CPI is out. Do we break out/down or consolidate more? Trade ideas for Thu Nov 13
Yesterday we got the gap up reversal I was looking for but not quite the 680.50 I want. We did get gap fill though. folled by some BTFD and consolidation
No review video today… scroll down to the ideas for today.
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High-quality trades with excellent reward vs. risk
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Plan for Wed Nov 12
Stick to process. The process and trade setups I teach works. Rinse and repeat over and over again. There will be losses. Any good system will have them. Being systematic also means the gains will repeat and come again too. If you keep changing your system/process trying in an effort to never lose a trade, you will never get to where you want to go.
SPY’s Pivot Battle: Secure Gains Before the Break
Target reversals at 683.8 to lock in profits amid volatility
Market Context
SPY has shown resilient upward momentum over the last five trading days, climbing from lows near 661 to recent highs around 685, with the latest session closing at 683.33 after a sharp rally from 682.29. The overall bias remains bullish, supported by strong volume during upswings, but pullbacks have tested support levels, forming a series of higher lows and a potential ascending triangle pattern on the 1-minute chart. .
Key Events Today
FOMC came out triggering a small dip but essentially holding support so far.