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