Dominate Today's Chaos. Trade Ideas for Friday Sep 5
Protect capital amid potential volatility from key economic data. FREE LESSON ON join an all day grinder.
Market Context
SPY is showing upward momentum in premarket, with the latest close at 651.49, above the pivot at 647.98 and near resistance at 652.46. The chart indicates a bullish bias from recent highs, positioned 0.5% below the first resistance level.
Before I get into today, I want to share about yesterday. Some of you struggled to join the all day grinder so I wrote this review just for you!
Don't miss the next all day grinder in SPY. 4 spot you could have entered on Thu Sep 4
What a day today in SPY. SPY did a 2 level move to the 648 level and gave a bonus squeeze into 649!
Key Events Today
08:30 ET - Non-Farm Employment Change - Monthly U.S. jobs report, expected to influence market direction
08:30 ET - Unemployment Rate - Measures U.S. labor market health, released alongside payrolls
08:30 ET - Average Hourly Earnings - Tracks wage growth, impacting inflation expectations
Key Levels and Their Significance
661.66: High Priority; Extended resistance with 70% hold rate on bounces, aligns with multi-day high, suitable for swing traders at close.
654.82: Resistance with volume spike >2x average on prior rejection, 65% probability, active for scalpers mid-session.
652.46: High Priority; Key resistance near premarket price, frequent reversals, 75% bounce rate, relevant for open.
651.49: Premarket high with clear rejection on 1-minute chart, 60% probability, suits intraday traders.
647.98: Pivot point with historical support, volume spikes, 70% hold rate, active throughout day.
645.62: Support with multi-day low alignment, 65% probability, for swing setups at low volume periods.
641.14: Strong support from frequent bounces, >2x volume, 68% probability, relevant post-open.
634.30: Extended support with low volume reversals, 60% probability, for longer holds.
There is massive opportunity in this market. Are you taking advantage? Literally have planned and alerted trades that pay over 300-1000%! You will need patience to wait for entries and the exits. But if you have self discipline or trust bracket orders, my process can help you get the results you want.
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
If you are busy and want to see my commentary and ideas in real time consider joining THT-PRO.
Education
How to Join a Strong Trend
The process I typically follow for joining a strong trend are as follows:
All day grinder: join on dips to 20ma
Multi-day grinder:
Join either on support test of morning lows or failed breakdown reversal at key level
Join at VWAP mid day or end of day
Keep it simple. Don’t chase, wait for support levels for great risk/reward entries!
Systematic Profit Taking
How do I take profits? I keep it relatively simple. Depending on the entry and range to the next levels I typically with take profits 50-100% of my profits at 3-10R and then raise stops to above entry with a goal of letting runners take me to the next level or 2 and to then reload if I believe we are consolidating before the next leg.
I then repeat the same process on the reload.
Securing Profits on Options overnight
Sometimes you get this massive paper gains overnight on options but you can’t secure it right? Well if you have a big enough account and a margin account if you have calls you can. What you need to do is buy or sell the stock overnight. and the option turns into a hedge against that position essentially securing your profits.
Plan for Friday Sep 05
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.