📈 $SUI Day Trading Strategy
1. Entry Points:

Support Zone: Consider entering long positions when SUI approaches the support range of $2.20 to $2.30. Look for confirmation signals such as bullish candlestick patterns or a crossover where the 7-day moving average (MA) crosses above the 25-day MA.

Oversold Conditions: Monitor the Relative Strength Index (RSI); an RSI below 30 may indicate that SUI is oversold, suggesting a potential buying opportunity.

2. Exit Points:

Resistance Levels: Plan to take profits near resistance levels, particularly between $3.40 and $3.50. These levels have previously acted as price ceilings.

Trailing Stop-Loss: Implement a trailing stop-loss to protect gains as the price moves in your favor.

3. Risk Management:

Stop-Loss Placement: Set a stop-loss order around $2.10 to limit potential losses if the trade moves against you.

Position Sizing: Avoid risking more than 2-5% of your total trading capital on a single trade to manage risk effectively.

4. Advanced Considerations:

Fibonacci Retracements: Utilize Fibonacci retracement levels (e.g., 0.702–0.786) to identify potential entry points during price pullbacks.

Elliott Wave Theory: Analyze price movements using Elliott Wave Theory to anticipate potential future price directions.

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