4 March: S&P 500 Approaching Critical Level

Today’s Video Update sees Rick begin with a chart pattern that didn’t work out, and stresses the importance of managing your trades in order to limit losses when things don’t play out as you might hope.

The S&P 500 reached a critical level that Rick has been watching for the last few days, what to expect in terms of a reaction and how it might set up a trading idea.

Rick also highlights the importance of planning out support & resistance levels before you start trading. It’s a good habit to make part of your analysis routine as it helps you to get your bearings and create something of a roadmap. You don’t want to be going short at support and long at resistance, but this is easily inadvertantly achieved if you’re not sufficiently prepared!

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