๐ LONG
$CAKE ๐ฐ Entry: 2.7760
๐ก Stop-loss: 2.7197 (โ2.0%)
๐ฏ Take-profit: 2.8475 โ 2.8928
๐ A large bullish body just swallowed the range off the EMA20 pullback โ CAKE's dip ended and buyers reclaimed the trend in one candle.
โข Trend is intact: full EMA stack with a wide 7.8% spread, and price pulled back just 1% to EMA20 before bouncing
โข Confirmation candle is decisive: an 84% body printing nearly a full ATR range right at support
โข HTF confluence is rare and clean โ 4H, daily and Elliott wave counts all point the same direction
โข RSI at 57 leaves room to run, far from overbought, while OBI at 0.09 shows bids firming on the book
โข Stop sits just 2% below in a defined swing zone against roughly double the reward โ favorable R:R
โญ Score 63/100 โ
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Trend-followers' entry: scale in on a candle close holding above EMA20, stop tight under the recent swing.
๐ฌ Long
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๐ Follow for hourly setups.