SUI Wave 4: Pivots, Patterns, and Possibilities
2025-01-04
Category: None

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The cleanest conservative count, in my opinion, suggests that we are still within a wave 4 or possibly a diagonal. This conclusion is based on the 3-wave move up that has printed so far, which aligns with the characteristics of corrective wave structures.

Wave 4, according to Elliott Wave principles, often presents as a more complex corrective pattern, and this appears consistent with the current price action. However, the situation remains dynamic, and key levels will play a crucial role in determining the next steps in the wave count.

### Key Levels to Watch

1. **4.92**: If price action fails to generate further upside momentum and drops below this level, it would indicate potential weakness and could lead to a revisit the 3.95 level.

2. **3.95 Pivot + Price Action (PA)**: This level will be pivotal in determining where we are within the broader wave count. A hold above this level could maintain the possibility of the current count, whereas a deeper breach could suggest a shift in the structure.

### Scenarios to Consider

- **Bullish Continuation**: If price action remains above 4.92 and generates impulsive moves, it may signal the end of wave 4 and the start of wave 5. 

- **Extended Correction**: A drop below 4.92 and a test of the 3.95 pivot could indicate a continuation of wave 4 or a diagonal pattern. An impulsive breach would lend to a flat. 

### Neutral Perspective

This analysis remains neutral, focusing on the possibilities rather than definitive predictions. The next moves around these levels will provide important clues about the broader structure and potential directional bias. As always, flexibility and attention to evolving price action are essential when navigating corrective waves.

By monitoring these critical levels and patterns, traders can better position themselves to adapt to the unfolding price action.

Trade safe, trade smart, trade clarity.

