Dear TradingView community and fellow traders,
I am Richard, also known as theSignalyst.
I find the SUI daily chart to be intriguing as it appears to be following the famous Wyckoff Cycle.
I would like to apply Richard Wyckoff's four market stages/phases to this chart for analysis as a practical example.
1️⃣ Accumulation
SUI rejected the $0.50 round number and entered an accumulation phase, consolidating for several months.
2️⃣ MarkUp
After breaking above the accumulation range at $1, SUI kicked off the markup phase.
3️⃣ Distribution
SUI found resistance at the $5.50 round number, with the lower bound of its range near $4—forming a wide distribution phase.
4️⃣ MarkDown
Once SUI broke below the $4 major low and exited the distribution zone, it transitioned into the markdown phase.
🔄🔄🔄🔄🔄⬇️
1️⃣ Accumulation
After finding support around the $2 round number, SUI hovered within a range, forming another accumulation phase.
2️⃣ MarkUp
We're here 🙂 This week, SUI broke above the $2.80 major high and the accumulation range—signaling the beginning of a new markup phase.
❓ What's next?
Will SUI continue to trade higher from here, or will this cycle play out differently?
I hope you find this post useful, and I would appreciate your likes and support.
Which scenario do you think is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard
I am Richard, also known as theSignalyst.
I find the SUI daily chart to be intriguing as it appears to be following the famous Wyckoff Cycle.
I would like to apply Richard Wyckoff's four market stages/phases to this chart for analysis as a practical example.
1️⃣ Accumulation
SUI rejected the $0.50 round number and entered an accumulation phase, consolidating for several months.
2️⃣ MarkUp
After breaking above the accumulation range at $1, SUI kicked off the markup phase.
3️⃣ Distribution
SUI found resistance at the $5.50 round number, with the lower bound of its range near $4—forming a wide distribution phase.
4️⃣ MarkDown
Once SUI broke below the $4 major low and exited the distribution zone, it transitioned into the markdown phase.
🔄🔄🔄🔄🔄⬇️
1️⃣ Accumulation
After finding support around the $2 round number, SUI hovered within a range, forming another accumulation phase.
2️⃣ MarkUp
We're here 🙂 This week, SUI broke above the $2.80 major high and the accumulation range—signaling the beginning of a new markup phase.
❓ What's next?
Will SUI continue to trade higher from here, or will this cycle play out differently?
I hope you find this post useful, and I would appreciate your likes and support.
Which scenario do you think is more likely to happen first? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard
Trade active
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade Made Simple
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
RichTL.com
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Crypto.com Exchange
crypto.com/exch/theSignalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.