Market rallies and gapping up on ceasefire news but will it hold? Trade Ideas for Tue Jun 24
What's stopping you from making 200-500%? Stop overtrading, and make more in less time. Read on to learn how I do it.
Good morning.
Another gorgeous trading day. I’ll be adding futures as another vehicle to profit as well as share which prop trading firm, why, how to get setup etc in coming days.
I’ve always been about finding insane risk/reward and opportunity and lately overnight has been where a lot of clean opportunity has been developing.
Lastly are you paying attention to failed breakdown reversals? In this Buy The F* Dip environment it really is a proven payer!
SPY / SPX
IDEA: 2 level move reversal
IDEA: SPY 596 rejection
The first hour gave buying almost reaching a 2 level move. That is where both Ace and I start hawking short AND I was scaling out of my /ES long from premarket scoops.
Given strength of market I wasn’t convinced we would break 596 but took small starter short on 5980p on the 10:30am level rejection. But then news came out that Qatar closed airspace and 596 started turning into a top. it took 15 minutes but then volume came in. I jumped into 5950p for this move.
Here is the action on 5980p:
Here is the action on 5950p:
Monster gains and opportunity and getting paid in under 60minutes!
IDEA: SPY 593.20 dip and reversal
This wasn’t “clean” but was strongly validated give the failed breakdown reversal setup. I was late to flipping long but it gave me conviction we would see new highs by end of day and likely a gap up into the next day and so I focused on /ES swing entries and 6050c for 6/24.
I was hoping for a dip entry at 3.5 on 6050c for 6/24 but by the time I made the decision it was 6-7. so I took only a starter position.
Here is what happened. Notice at 592 there was massive volume into that low. That indicates buy. then the higher low at 593.20 came. One can go long that and risk 30-50% targeting 602 by end of day and 604-606 for the next day.
Let’s go over the plays. PS congrats to THT PRO member who nailed the long! I love seeing members plan their trades!
Above is what the 6000c did.
And we took SPX 6020c for $1 as a yolo into the close! that paid over 800%!
TSLA
alerted long on this around $3 target $12 hit $13+
HIMS
alerted premarket short on this 50-52 target 40-45. Hit 40.60!
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.
Thoughts from Wed price action:
SPY is continues to consolidate but with some weakness
No clear signal yet for upside or downside next
BTFD bias continues until 592 breaks.
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.
Trade Ideas - Plan for Tue Jun 24
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.
Ideas
Market is gapping up and continues is BTFD action
Here are the trades I’m planning for today…