SUI TRADE IDEA 
2025-01-07
Category: None

SUI has performed remarkably this Bullrun and it doesn't look to be slowing down. This is just some thoughts on the low timeframe:

Bullish scenario - 

A retest of the green zone which is a clear bullish orderblock and the last local high would be an ideal place to get into a Long to then fill the wick up to local high. The general rule of thumb is that wicks get filled and this move would be a near 20% with good R:R. A poor reaction/ no reaction in the green zone would void the trade idea and the Daily support is the next area of interest. 

Bearish scenario - 

A SFP once the wick gets filled would be a potential bearish trigger with the midpoint and green zone providing areas for the bulls to fight back. SUI is very overbought on the higher timeframes so a larger cool down could be triggered by this pattern playing out. I do also think BTC would have to pullback in order to drag SUI down with it as SUI is just so strong at the moment. 

So far a strong start from the US market with the first meaningful day back since the holidays providing strong volume and a bullish bias. 