SUIUSD to start uptrend!
Volume started climbing on SUIUSD when it increased in price and volume went down as we had the last drops. So volume is supporting an uptrend as of now and the recent corrections can be seen as shakeouts.
Now let’s see if we can find clues that underline this idea. On 2 hour time frame we can see an inversed head and shoulders pattern building. We just finished building the right shoulder and if this analysis is correct, price of SUIUSD should only climb from here at around $0.633 to a minimum of $0.68 and then reassess. Probably it will then form a higher low that is higher than current prices and continue increasing. I‘ll have my stoploss around $0.59, if we stay around that price or lower for some time.
Recently I got an entry just under $0.62.
For me it’s not a scalp but a long term entry that I want to find. If market gives lower prices I‘ll take them at certain points, that I need to analyse later, if it drops from here. Right now I see more bullish indication as just described.
Now let’s see if we can find clues that underline this idea. On 2 hour time frame we can see an inversed head and shoulders pattern building. We just finished building the right shoulder and if this analysis is correct, price of SUIUSD should only climb from here at around $0.633 to a minimum of $0.68 and then reassess. Probably it will then form a higher low that is higher than current prices and continue increasing. I‘ll have my stoploss around $0.59, if we stay around that price or lower for some time.
Recently I got an entry just under $0.62.
For me it’s not a scalp but a long term entry that I want to find. If market gives lower prices I‘ll take them at certain points, that I need to analyse later, if it drops from here. Right now I see more bullish indication as just described.
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