CAKE - Wait For The Trigger!

5 Kas 2021

Hello everyone, if you like the idea, do not forget to support with a like and follow.

CAKE is approaching a strong support and demand zone so we will be looking for buy setups on lower timeframes.

on H4: CAKE formed a wedge pattern but it is not ready to go yet. Before we buy, we want the bulls to take over.

Trigger => Waiting for a momentum candle close above the last high in gray to buy.

Meanwhile, until the buy is activated, CAKE would be overall bearish can still trade lower and dive inside the blue zone before going up. In this case, we will be looking for new buy setups to form.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich