Short on $CAKE : breakdown on volume, below its EMA200.
The 1h candle closed below 1.945, the low of the previous 20 hours. I sold at 1.891.
That candle had 4 times the average volume of the preceding hours.
Initial stop at 1.942 (2.7% above). No TP: I use a trailing stop: it moves down following the low and closes if the price rebounds to it; 7 days is just the maximum.
Many trades don't work out; that's why each trade risks little.
This is not financial advice. Do your own research and adjust your risk.
$CAKE #trading #futures
The 1h candle closed below 1.945, the low of the previous 20 hours. I sold at 1.891.
That candle had 4 times the average volume of the preceding hours.
Initial stop at 1.942 (2.7% above). No TP: I use a trailing stop: it moves down following the low and closes if the price rebounds to it; 7 days is just the maximum.
Many trades don't work out; that's why each trade risks little.
This is not financial advice. Do your own research and adjust your risk.
$CAKE #trading #futures