US500 - Purple War Zone!

15. Dez. 2021

US500 is overall bullish trading inside our brown channel and now approaching the lower brown trendline acting as non-horizontal support, we will be looking for Trend-Following Buy setups.

Moreover, the 4K - 4.5K is a strong round number currently acting as support.

So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower brown and red trendlines.

As per my trading style:
I will be waiting for US500 to approach the highlighted purple circle area to look for buy setups (like a double bottom, 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