on DAILY: Left Chart CAKE has been stuck inside a big range between the 3.0 support and 5.0 resistance.
Now #CAKE is approaching the lower bound / support zone so we will be looking for buy setups on lower timeframes.
on H4: Right Chart CAKE is bearish from a short-term perspective trading below the red trendline.
🏹 Trigger => for the bulls to take over, we need a new high to form and then a break above the upper red trendline and red zone. Meanwhile, until the buy is activated, CAKE can still trade lower till the 3.0 - 3.2 support zone .
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck! All Strategies Are Good; If Managed Properly! ~Rich