S&P 500: Buying A Pullback from Key Support |15-2-2022
S&P 500: Buying A Pullback from Key Support
Price Action: Price formed a Bullish Tailed Bar Signal, overnight (We are not considering trading this signal as it didn’t form at any confluent level and we prefer to buy on a deeper pullback to the key support areas).
Price finally sold off from the prior Bearish Pin Bar Signal that had formed just under the 4581 – 4600 key resistance area, over a week ago.
The recent Bullish Tailed Bar + Multiple Inside Bar Pattern (Combo Setup), failed (We did not consider trading this signal and hopefully saved some members on this market).
Potential Trade Idea 1: We are now staying on the sidelines until further price action develops.
Potential Trade Idea 2: For more advanced traders there could be a buying opportunity at or just above the 4245 – 4270 key support area (Prior Event Area).
Price Action: Price formed a Bullish Tailed Bar Signal, overnight (We are not considering trading this signal as it didn’t form at any confluent level and we prefer to buy on a deeper pullback to the key support areas).
Price finally sold off from the prior Bearish Pin Bar Signal that had formed just under the 4581 – 4600 key resistance area, over a week ago.
The recent Bullish Tailed Bar + Multiple Inside Bar Pattern (Combo Setup), failed (We did not consider trading this signal and hopefully saved some members on this market).
Potential Trade Idea 1: We are now staying on the sidelines until further price action develops.
Potential Trade Idea 2: For more advanced traders there could be a buying opportunity at or just above the 4245 – 4270 key support area (Prior Event Area).