Has TSLA reversed course? Is BTFD back on SPY? Day Trading Ideas for Apr 30
How will markets react to FOMC tomorrow
Good morning traders!
Some homework/maintenance update. Writing the trade review section is a time consuming process and I hate feeling rushed to publish ideas in the morning. So I’m going to try and write most of the blog the day/night before and adjust the ideas section in the morning based on premarket action for the next week and let’s see how that goes.
Let’s recap, Monday was essentially a rest day after last week’s market reversal. The big highlights being TSLA’s FSD in China and AAPL reclaiming 170.
The fed will announce decision on interest rates on Wed and the question is how will market react. Imho I don’t understand the logic to go risk/on with inflation fears back on the radar. But that doesn’t matter, what matters is process and price action. We take advantage of the levels and reaction to them, and take the gain as they come.
Given we are pushing into a major resistance, and the news risk tomorrow, I would not be surprised by some profit taking today. That said every dip has been bought it does appear we are setting up for a breakout on SPY over 510 for run toward 512+
I’ve shifted most of my trading to now avoid the first hour, and that has paid well.
I’ve also looked toward doing more credit selling which has led to more consistent gains/wins.
Let’s get into yesterday’s acton and some ideas for today.
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.
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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 23 - SPX 5060/5055 bull puts - Entry $1.75 ($1750 premium potential) drawdown < $200
Apr 22 - SPX 5050c swing - $5.50 → ($5500 → $42000 potential)
Apr 22 - SPX 5000c - $3.20 → ($3200 → $39000 potential)
Apr 22 - SPX 5020c - $0.20 alert, dipped to 0.55, fill at $0.70 → ($700 → $20000 potential)
Apr 19 - SMCI 750p - $1.50 → ($1500 → $38k+ potential)
Apr 19 - NVDA 800p - Entry $0.5 ($500→$40k potential)
Apr 18 - SPX 5050c - Entry $6 ($6000→$16000 potential)
Apr 18 - SPX 5020p - Entry $4 ($5000→$20000 potential)
Apr 16 - SPX 5140/5135 bull puts - Entry $2.50 ($2500 premium potential) drawdown < $300
Apr 12 - SPX 5100p $1. (dipped to 1.30) - Entry $2 ($2500 premium potential)
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 potential)
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
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Monday’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!
SPY/SPX
Waiting or the first hour and seeing the failed push gave a chance to do 5120. bear calls and 5100p for a scalp into morning support.
Then after lunch thre was a another lower high and back below vwap triggering a fast flush into 507.30. And then what happed… it got bought. I got stopped on my 5100 bull puts that I took after lunch. But it was a nice trade from $1.20—>0.35 credit for some profit. I did screw up and get out. break even on reload around 2.50. as it looks liked we might into 505.
once r/g at 3:15 was reclaimd, taking 5110c targeting a close of 5110-5115 would have worked.
TSLA
We target Aug 200c swings for $7 last week or week before. These hit 25 yesterday. I sold majority and now looking to reload small some under $10-15 in coming week.
For today, this may get some profit taking if it can’t reclaim 195 for a 200+ push fast.
I
I’m watching dips on 180-185 for possible long for 200+.
Trade Ideas - Plan for Tuesday Apr 30
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.
Will be looking for some range tests today and possibly and break in either direction in SPY.
My focus today: SPY, TSLA
Sorry only 2 ideas today. focusing on profit taking trades into resistance, unless support gets established after first hour.
Tonight we should have trades develop after e/r rreports so tomorrow should be a payer between those and FOMC.