The ETH strategy setup highlighted in the previous round played out as expected, and we successfully captured this move. High-reward opportunities often lie in confirmation against the prevailing move, and the current rebound in $SUI is a textbook example. On the four-hour chart, price is tracking along a descending trendline, with each attempt to move higher being pushed back down. Trading volume is shrinking at the same time, indicating weakening buying support. Structurally, price failed to break above the previous high and instead formed a lower high—a sign that the bearish trend is continuing, not reversing.
Once the key level gives way, more room to the downside will open up. A rebound into the resistance zone would be an opportunity to position for a short. Place the stop-loss above the structural high for a reasonable risk-reward ratio. Until the trend has run its course, trying to catch a countertrend bounce offers relatively poor value.
🔴 Trade direction: Short
📍 Entry range: 1.0101 – 0.9801
🛑 Stop-loss: 1.0702
🎯 Take-profit 1: 0.9601
🎯 Take-profit 2: 0.9301
🎯 Take-profit 3: 0.9001
🎯 Take-profit 4: 0.8501
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong, and witness the ebb and flow of fortunes.
#SUI
Click below to trade 👇
Once the key level gives way, more room to the downside will open up. A rebound into the resistance zone would be an opportunity to position for a short. Place the stop-loss above the structural high for a reasonable risk-reward ratio. Until the trend has run its course, trying to catch a countertrend bounce offers relatively poor value.
🔴 Trade direction: Short
📍 Entry range: 1.0101 – 0.9801
🛑 Stop-loss: 1.0702
🎯 Take-profit 1: 0.9601
🎯 Take-profit 2: 0.9301
🎯 Take-profit 3: 0.9001
🎯 Take-profit 4: 0.8501
Take in the vastness of mountains and seas; observe the market's finer details.
Trade alongside Uncle Xiong, and witness the ebb and flow of fortunes.
#SUI
Click below to trade 👇