SPY poised to breakout but will it dip again first? Trade Ideas for Mon Oct 18
Nailed the failed breakdown reversal idea off the lows. Ideas yielded 200 to 500% gains! In today's video get a sneak peak into how Edge will change how you trade!
Video Lesson/Review SPY/SPX
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What is Two Hour Trading?
Two Hour Trading is my system for finding and executing trades while spending less than two hours a day trading. My goal is to earn 100-300% on the capital I risk while waiting for 1000%+ gain trades to set up. Key benefits include:
High-quality trades with excellent reward vs. risk
Avoiding overtrading and losses from it
Trading to win vs. trading not to lose
Stacking the deck in your favor
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Plan for Mon Oct 20
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 Surge: Seize the Breakout Edge
Pivot at 661.2 Targets Fresh Highs Amid Bullish Momentum
Market Context
SPY has shown resilient upward momentum over the past five trading sessions, climbing from lows near 651.41 on October 14 to highs above 670.23 by October 17, with intraday volatility creating multiple reversal opportunities. The chart displays a series of higher lows and failed breakdowns below key supports, suggesting a bullish bias as buyers defend the 661.2 pivot level. Recent sessions featured choppy action with quick recoveries from dips, driven by broad market participation, positioning SPY for potential continuation if volume supports upside breaks. However, lingering resistance overhead could cap gains, making failed breakouts a prime watch for reversals.
Key Events Today
No major economic releases are scheduled for October 20, reducing fundamental volatility. Focus on corporate earnings reports from key S&P 500 components like Netflix or Tesla, which could spark sector rotations. Geopolitical headlines or Fed commentary may influence sentiment, but premarket stability around 667 points to a quiet open unless unexpected news emerges.