$SUI /USD Trade Setup
Entry Point:
Buy at: $3.57 (Current price)
This is near the recent price action, with potential for a small pullback and continuation upwards.
Stop Loss:
Stop Loss at: $3.45
Set your stop loss slightly below the recent support level of $3.45 to limit risk if the market reverses.
Take Profit Levels:
First Take Profit at: $3.65 (Intraday resistance level)
A conservative target to lock in profits if the price pushes up
Second Take Profit at: $3.85
This level is closer to the next major resistance and provides a more aggressive target for higher returns.
$SUI Trade Strategy:
Position Type: Long (Buy)
Risk-to-Reward Ratio: 1:2
With a stop loss of $0.12 and take profit at $0.30 for the first target, this offers a good risk-to-reward ratio.
Trade Plan:
Enter the market at $3.57.
Place stop loss at $3.45
Set take profit at $3.65 and $3.85 in case of a bullish breakout.
🔔 Monitoring: Keep an eye on the price action near the resistance levels. If the price fails to break through $3.65 or shows signs of reversal, consider exiting or adjusting your targets.