Just now opened a sui long. I think it has a good probability of retesting the $5 dollar level and possibly pushing higher.
$5 seems like a good psychological target and considering that market also looks to be high on the monthly don't want to be in for long hence why I think its a good idea to scale out 70% of position there to be conservative then scale out the rest at higher prices given the trade plays out.
market structure is still bullish on 1hr and 4hr timeframe that tells me the bulls are in control still but like I said price is high and we saw a decent rejection from $5 and then $4.93 but $4.93 didn't look to me like it had a lot of volume to support the move down and just this past hr he market closed back above $4.84 which I think is a key area of interest.
$5 seems like a good psychological target and considering that market also looks to be high on the monthly don't want to be in for long hence why I think its a good idea to scale out 70% of position there to be conservative then scale out the rest at higher prices given the trade plays out.
market structure is still bullish on 1hr and 4hr timeframe that tells me the bulls are in control still but like I said price is high and we saw a decent rejection from $5 and then $4.93 but $4.93 didn't look to me like it had a lot of volume to support the move down and just this past hr he market closed back above $4.84 which I think is a key area of interest.
Nota
close suit early again. Waiting some more before attempting another long on it. Bulls seem a bit weak in the night.Nota
Had re-entered sui long last night on my phone but couldn't update tradingivew
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