US500 - Two Possible Scenarios!
Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
US500 is overall bearish trading inside the brown falling broadening wedge, however, it is now sitting around a support zone 3550 - 3600 so we will be looking for short-term buy setups on lower timeframes.
If the 3550 - 3600 is broken downward, then the next support would become 3300 - 3400 in blue.
3300 - 3400 is the strongest support on this chart as it is the intersecting with the lower brown trendlines. (acting as non-horizontal support)
As per my trading style:
Since US500 is around the green support, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
and if the green zone is broken downward, I will be looking for buy setups around the blue zone.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
US500 is overall bearish trading inside the brown falling broadening wedge, however, it is now sitting around a support zone 3550 - 3600 so we will be looking for short-term buy setups on lower timeframes.
If the 3550 - 3600 is broken downward, then the next support would become 3300 - 3400 in blue.
3300 - 3400 is the strongest support on this chart as it is the intersecting with the lower brown trendlines. (acting as non-horizontal support)
As per my trading style:
Since US500 is around the green support, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
and if the green zone is broken downward, I will be looking for buy setups around the blue zone.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Trade Made Simple
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
RichTL.com
Instagram:
instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker - Tickmill
cutt.ly/TickmillReal
Kucoin Exchange
kucoin.com/r/af/signalyst
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.