CAKE is one of the cleanest and easiest charts to read. We have a simple ABC correction and we completed the C wave recently.

We are now in bullish territory and looking for any opportunities to go long. We have a nice correction forming now and all we need to do is wait for a breakout and enter.

Trade Idea:
– Watch for breakout of the descending trendline
– enter with stops below the structure
– Targets: 17, 26, long term target 40

It is possible we may come back to test the structure to create a double bottom before moving so just be wary of that.