US500 - Critical Zone Ahead ❗️

20 thg 12, 2023

Hello TradingView Family / Fellow Traders,

📈 After breaking above 4100.0 high, US500 has been overall bullish trading inside the blue rising wedge pattern and it is currently approaching the upper bound of the pattern.

Moreover, the zone 4800.0 is the current All-Time-High.

🎯 Therefore, the highlighted blue circle represents a significant area to consider for potential shift in momentum, as it marks the intersection of the green All-Time-High and the upper blue trendline.

📚 As per my trading style:
As US500 approaches the blue circle zone, I will be actively searching for bearish reversal setups to capture the next bearish correction movement.

For the bulls to invalidate the bearish scenario, we need a momentum weekly candle closing above the All-Time-High.

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr