US500 - Strong Support Zone Ahead!

Feb 21, 2023

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

US500 is overall bullish trading inside the rising red channel and now retesting the lower red trendline.

Moreover, the zone 3900 - 3950 is a strong weekly support zone .

🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support zone and lower red trendlines . (acting as non-horizontal support)

As per my trading style:
As US500 approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich