CAKE Ready for a Breakout? Cup & Handle Pattern in Play!

11 בפבר׳

Analysis: #CAKE is in a strong uptrend and is currently forming a cup and handle pattern on the 30-minute timeframe. This is a classic bullish continuation pattern, signaling a potential breakout.

Key Observations:
🔹 Higher Highs (HH) & Higher Lows (HL) indicate a healthy uptrend.
🔹 Bearish divergence spotted—indicating a possible retracement.
🔹 If support breaks, we may see a trend reversal.
🔹 If the handle completes and #CAKE breaks out, it could be an ideal buying opportunity.

Strategy:
🔹 Wait for breakout confirmation above the cup resistance.
🔹 Entry: On breakout with volume.
🔹 Stop Loss: Below recent HL.
🔹 Target: Measure the depth of the cup for a price target.

Final Thoughts:
This setup has high potential, but always use proper risk management.

What’s your take on #CAKE? Will it break out or break down? Comment below!

12 בפבר׳

עסקה פעילה

Trade is active. Now wait for the uptrend.

12 בפבר׳

הערה

#Cake is moving uptrend. Enjoy the trade.

12 בפבר׳

הערה

1st TP Hit, u can close ur trade OR wait for 2nd TP. #Cake have more potential to move in uptrend.

13 בפבר׳

עסקה סגורה: היעד הושג

All TP Hits.