US500 Signaling Optimism!

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

📈Long-term, US500 has been overall bullish trading within the rising wedge pattern marked in blue.

This month, US500 has been in a correction phase, retesting the lower bound of the wedge.

Moreover, the green zone is a strong structure and previous ATH.

🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of structure and lower blue trendline acting as a non-horizontal support.

📚 As per my trading style:
As #US500 is hovering around the blue 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

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.