AMZN hit new highs, is it back to BTFD? BE CAREFUL TODAY - Day Trading Ideas for Apr 12
Failed Break Down Reversal + the THT System yields 500-1000%+ gains
Good morning traders!
Yesterday was amazing. Unlike the day before where chop was a pain. We were winning left and right. Even the losers didn’t matter given the wins.
After a huge move, and what felt like market Eurphoria, it has me concerned that this rally will be short lived. That said, it doesn’t matter because we trade process and aer able to catch 2 level moves regularly.
In today’s blog I want to focus on process for going short, and recognizing the failed break down reversal.
It is so important to learn this skill because it can net you 500 or even over 1000% gains on your trades.
As for today, given the large move yesterday, I’m expected today to possibly be an inside day, however if we breakout over yesterday’s high, we could get a rally.
Be careful around SPY 521-523 zone. If market makers are looking to sell, I think that is the zone where they unload into the Chasers looking for the next rally.
Introduction (for New Readers)
Welcome to my blog on Two Hour Trading, your daily source for market insights and trading opportunities. In this blog, I will provide you with a comprehensive analysis of the market, educational lessons, and trade ideas to help you stay ahead in your trading journey and best of all doing it less than two hours a day.
What Subscribers Get
Subscribers to this blog will receive daily updates on market analysis, educational content, and up to three trade ideas each morning, all based on real-life examples and my personal approach to trading.
NOTE: screenshots from chat are from Edge Trade Planner. A platform available to THT PRO members. Join Us for live commentary and planning. Note my goal is to actively trade less than 2 hours a day finding 1 to 4 great trades a day.
What is Two Hour Trading?
It’s 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 setup. Key benefits:
High Quality trades with great reward vs risk
Avoid Overtrading and losses from it
Trading to Win vs Trading to Not Lose
Stacking the deck in your favor
2024 Alert Leaderboard
(I’ve decided to include a leaderboard so you can see what potential the 2 Hour Trading System has)
The following is based on entry alerts.
Apr 11 - SPX 5180/5185 bear calls - Entry $2.50 ($2500 premium potential)
Apr 10 - SPX 5180/5185 bear calls - Entry $2.50 ($2500 premium potential)
Apr 10 - SPX 5170c - Entry 0.50 ($500 → $5000 potential)
Apr 9 - SPX 5185/5180 bull puts - Entry $3 ($3000 premium potential)
Apr 9 - SPX 5205c - Entry $0.50 ($500→ $6000 potenitl)
Apr 8 - SPX 5225/5230 bear calls - Entry $1.20 ($1200 premium potential)
Apr 8 - SPX 5200/5195 bear puts - Entry $0.10 ($1000→ $8000 potential)
Apr 4 - SPX 5250p - Entry $4 ($4000→ $100k potential)
Apr 4 - SPX 5180p - Entry $1.30 ($1300 > $32k potential)
Apr 3 - SPX 5175/5170 bull put - Entry $1.50 ($1500 premium potential)
Apr 2 - SPX 5175/5170 bull put - Entry $1.50 ($1500 premium potential)
Apr 2 - SPX 5205/5200 bull put - Entry $1.50 ($1500 premium potential)
**Past Performance is not indicative of future results
For live alerts and market commentary click the button below.
Thursday’s Price Action (Education)
You don't try to make $100,000 ...You don’t start by saying, I’m going to make the biggest most profitable trade and turn $1000 into $100,000 and fix all my bad trades before.
You say, I’m going to plan and execute 1 trade as perfectly as I can today. You do that every single day, and soon you'll have a $100,000 and likely much more!
Sorry all, I have to make today’s blog short so will focus on highlights.
SPY/SPX
Trade 1.
Recognize failed breakout, then wait for 15-20 minutes for price action to confirm
on triple top and break back below vwap go short targeting 2 levels down or 512.50/premarket lows.
We took profits inot the lows and then yolo calls and puts.
.Trade 2 & 3
The 5100p for $3 stops at 1.50
the 5160c from $6 ran to 12, then 18, then 40+
The key to this trade was to recognize that once the 513.50 level I was looking for indicate downside, was recalimed, it needed to either reject 515.50 and break 513.50 to load up short, or we have a monster reversal setting up.
so we let market consolidate and after lunch it bunch over 5150 and we took SPX 5180c for $4-6 targeting 5203-5220. for an exit of 20-40. Final ell was $30!
NVDA
900c Swing for 4/26
Given the price action and all the recent call flow, this looked like a great swing opporuntiy assuming the BTFD regime continues.
i alerted this plan, although for swing I had a much highr allocation. Entry at 20 hit 37 end of day. If rally comes could hit $100-200 by expiration
Trade Ideas - Plan for Friday Apr 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.
Given the big range yesterday, there is a higher chance of rangy chop today. So be careful chasing long in to major resistance. I prefer to buy dips only like we got during premaret today.
Today I will be watching: SPY, NVDA, AMD