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🍣SUSHI Elliott Wave Setup: Anticipating the Wave (C) Retracement 🌊

06/02/2026 08:15

⚡️ Market / Price Context

SUSHI/USDT is showing signs of transitioning into a corrective phase on the 8H chart. Based on Elliott Wave structure, price appears to be preparing for a wave (b) retracement, a countertrend move that typically precedes further downside continuation.

📈 Chart Explanation

In Elliott Wave theory, wave (b) represents a corrective pullback within a larger three-wave sequence, often followed by wave (c), a move that extends price toward lower levels before the broader structure resolves. This pattern suggests the current retracement is a structural phase rather than a reversal of the larger trend.

📈 Outlook

Should this wave count play out, price could continue lower into wave (c) territory before the corrective sequence completes. As with any developing wave structure, confirmation comes from price action itself, and proper risk management remains essential while the pattern unfolds.

Updates

06/04/2026 11:46

📣 Trade Update

The projected wave (b) retracement on SUSHI/USDT played out as outlined, with price moving into the anticipated entry zone before reversing higher. The structure confirmed cleanly, validating the earlier Elliott Wave read on the 8H chart.

💰 Trade Management

With price extending favorably from the entry zone, the first target level was reached, representing a strong risk-to-reward outcome for the setup. At this stage, securing gains at a defined target is a standard approach to locking in progress while the broader wave structure continues to develop.

📈 What's Next

With the first target achieved, attention now shifts to how price behaves from current levels. Continued strength would support further progression within the wave count, while any loss of momentum would warrant reassessing the structure's next phase.

06/05/2026 18:20

📣 Trade Update

SUSHI/USDT continued its upward progression following the earlier wave (b) structure, extending further and reaching a second target level on the 8H chart. The move reinforces the validity of the original Elliott Wave read.

💰 Trade Management

With price reaching this extended target, securing a larger portion of the position becomes a reasonable approach to lock in the bulk of the move's gains, while leaving room to track any further continuation. Managing exposure at successive targets is a standard way to balance profit-taking with staying engaged in a trend.

📈 What's Next

With most of the move now captured, focus shifts to how the remaining structure develops. Continued strength would support further upside within the broader wave count, while a shift in momentum would signal it's time to reassess the position entirely.

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