Wed. Dec 8th, 2021

Long-term trend of CAKE / USDTPERP: bullish

Key resistance levels: 26.6500, 27.6250, 28.1700.

Key levels of attendance: 25.2825, 24.1150. 24.0000.

Daily chart:

The price of the highest time period is traded within a bullish channel formation where higher lows and highs are seen. The price already recorded a count of corrections, where we then expect a new upward movement in the same direction as the main trend.

Medium term CAKE / USDTPERP: bullish

4-hour chart:

In the lower term, the price managed to break the bullish formation of the pennant after publishing a series of bullish candlesticks. A lower correction could be seen in the highlighted area before a new bullish impulse wave to the next key level.

Signal idea:

Buy limit order @ 25.6300

TP 1 @ 26.6150

TP 2 @ 27.6250

Stop losses @ 25.3025

Trade safely 🙂

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