In the trade review section, I explain in detail how to day trade S&P 500 by trading the breakout. Besides, I will reveal the one simple trick that I used to help increasing the breakout trading winning rate. Check out the video for a complete walk through of the daily market analysis of S&P 500 futures (ES) for 6 Oct 2020 trading session. In this video, I am going to show you the market recap during the last session and trade reviews in the three-minutes timeframe (including entry, exit and the rationale behind). Going forward, I will cover the bias, the key levels to pay attention to, my trading plan for the session later.
Check out my daily market analysis video in the last session if you haven’t in order to better relate to the market recap and the trade review.
Bias — neutral (Day trading); bullish (long term).
Key levels — Resistance: 3420–3450; Support: 3380, 3300–3320, 3200–3230.
Potential setup — Look for potential reversal at the key levels.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Gold pressures record highs, aims to extend gains
Gold prices maintain their constructive bias well in place on Tuesday, now receding somewhat following earlier record peaks near the $3,040 mark per troy ounce in response to mitigating geopolitical effercescense around the Russia-Ukraine crisis.

EUR/USD picks up pace and flirts with 1.0950
The US Dollar now accelerates its daily correction and lends wings to the risk complex, encouraging EUR/USD to return to the area of recent highs around 1.0950 amid positive news after the Trump-Putin call.

GBP/USD regains the smile and retests 1.3000 and above
GBP/USD now leaves behind the earlier downbeat tone and returns to the 1.3000 region on the back of the resurgence of the downward bias in the Greenback as geopolitcal tensions on the Russia-Ukraine front subside.

Trump-Putin talks raise hopes of a ceasefire – Middle East risk returns
The prospective end to the Russia-Ukraine war has traders excited for a more positive growth outlook in Europe going forward, with heavily industrialised nations such as Germany having suffered under the weight of elevated energy costs in recent years.

Tariff wars are stories that usually end badly
In a 1933 article on national self-sufficiency1, British economist John Maynard Keynes advised “those who seek to disembarrass a country from its entanglements” to be “very slow and wary” and illustrated his point with the following image: “It should not be a matter of tearing up roots but of slowly training a plant to grow in a different direction”.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.