CAKE/USDT | Rising Wedge ⇒ Supply-Zone Short
Building on Prior Success
Following my May 1 CAKE/USDT forecast—view it here:
—which itself was rooted in the April 6 trend-rebound call that delivered a 38% gain:
📈 Market Structure
Pattern: Well-defined rising wedge since early April (blue trend-lines)
Bearish Impulse: Wedges often break down as buying exhausts into the apex
📌 Supply Order Block
Zone: 2.246 – 2.300 USDT (blue shaded area)
Upper Resistance: 2.387 USDT (Red line) marks April’s supply peak
⚔️ Entry Levels
Aggressive: Short on a clear rejection from 2.246 USDT (lower edge of block)
Conservative: Wait for a failed break or bearish candle near 2.300 USDT (block/wedge confluence)
🛑 Stop Loss
Invalidation: A close above 2.40 – USDT high-timeframe supply
Rationale: Allows for a false spike while protecting capital
🎯 Profit Targets
TP1 2.110
TP2 1.946
TP3 1.752
🔧 Trade Management
- Scale out partial positions at each TP to lock in gains
- Move stop to breakeven once TP1 is reached
- Reassess if price sustains above 2.40 USDT
⚠️ Rising wedges can whip both ways—always size positions properly and respect your stop.
Building on Prior Success
Following my May 1 CAKE/USDT forecast—view it here:
—which itself was rooted in the April 6 trend-rebound call that delivered a 38% gain:
📈 Market Structure
Pattern: Well-defined rising wedge since early April (blue trend-lines)
Bearish Impulse: Wedges often break down as buying exhausts into the apex
📌 Supply Order Block
Zone: 2.246 – 2.300 USDT (blue shaded area)
Upper Resistance: 2.387 USDT (Red line) marks April’s supply peak
⚔️ Entry Levels
Aggressive: Short on a clear rejection from 2.246 USDT (lower edge of block)
Conservative: Wait for a failed break or bearish candle near 2.300 USDT (block/wedge confluence)
🛑 Stop Loss
Invalidation: A close above 2.40 – USDT high-timeframe supply
Rationale: Allows for a false spike while protecting capital
🎯 Profit Targets
TP1 2.110
TP2 1.946
TP3 1.752
🔧 Trade Management
- Scale out partial positions at each TP to lock in gains
- Move stop to breakeven once TP1 is reached
- Reassess if price sustains above 2.40 USDT
⚠️ Rising wedges can whip both ways—always size positions properly and respect your stop.
Telegram: t.me/Crypto_Sheykh
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Telegram: t.me/Crypto_Sheykh
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.