Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
US500 is overall bearish from a long-term perspective trading inside the falling broadening wedge pattern in brown, and it is currently retesting the upper brown trendline.
Moreover, the zone 4150 is a strong resistance and supply zone .
So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance zone and upper brown and red trendlines . (acting as non-horizontal resistance)
As per my trading style: Since US500 is approaching the purple circle zone, I will be looking for bearish reversal setups (like a double top 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
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