Detailed Trading Strategies for $SUI /USDT:
1. Bullish (Long) Strategy
If you're looking to profit from the upward trend, follow these strategies:
A. Buy on Breakout
Entry Trigger: Wait for a break and close above $5.1110 (the 24h high). Confirm the breakout with strong volume.
Target Levels:
Target 1: $5.32 (psychological resistance)
Target 2: $5.50 (projected Fibonacci extension)
Target 3: $6.00 (key round number)
Stop-Loss: Place it slightly below $5.00 to minimize risk if the breakout fails.
B. Buy on Retest of Support
Entry Trigger: Look for a pullback to key support levels:
$4.47 (MA7 and recent consolidation area)
$3.79 (strong swing low and historical support)
Target Levels: Similar to the breakout targets above.
Stop-Loss: Place it slightly below the support zone you’re buying at.
Additional Confirmation: Use indicators like RSI or MACD to confirm momentum:
RSI above 50 suggests bullish strength.
A bullish MACD crossover (signal line crossing MACD line upwards) strengthens the buy case.
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2. Bearish (Short) Strategy
For those anticipating a correction or pullback:
A. Short on Rejection
Entry Trigger: Monitor price action near $5.1110 or $5.32. If there’s a clear rejection (e.g., long upper wick or bearish candlestick pattern like a shooting star), it may signal a pullback.
Target Levels:
Target 1: $4.47 (MA7)
Target 2: $3.79 (swing low)
Stop-Loss: Place it slightly above the resistance level ($5.12 or $5.35) to avoid getting stopped out in a fake breakout.
B. Short on Breakdown
Entry Trigger: If price breaks below $4.47 with high selling volume, this may signal a reversal or deeper correction.
Target Levels:
Target 1: $3.79
Target 2: $3.50
Stop-Loss: Slightly above $4.50 (previous support level).
Additional Confirmation: Use the EMA or SAR for trend reversal signals:
A bearish EMA crossover (shorter EMA crossing below the longer EMA) or SAR flipping above price could validate short positions.
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Indicators to Watch:
1. RSI (Relative Strength Index):
Above 70: Overbought → Possible reversal or consolidation.
Between 50-70: Strong bullish momentum.
2. MACD (Moving Average Convergence Divergence):
Watch for a bullish crossover to confirm upward moves.
A bearish crossover near resistance signals a potential downtrend.
3. Volume:
Ensure high volume during breakouts to confirm strong participation.
Declining volume near resistance suggests weakening momentum.
4. Bollinger Bands:
Price consistently closing near the upper band indicates strong bullish momentum.
A sharp move outside the bands could signal overextension and potential pullback.
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Risk Management:
Position Sizing: Risk no more than 1-2% of your total capital per trade.
Trailing Stop: Use a trailing stop to lock in profits if the trend continues in your favor.
Exit Plan: Have a predefined exit plan for both profit and loss sce
narios to avoid emotional trading.
