Wyckoff Cycle - Practical Example (SUI)

24 Apr

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

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