Prepare for potential volatility around key pivots. Trade Ideas for Tue Sep 9
BOOM! High Probability Trade Idea Scores Again!
BOOM! Our Trade Idea Scores Again!!
Yesterday I wrote:
Want over 100% gains? Watch this video to learn how to combine the idea with the price action!
SPX 6490C Potenital Profit Range
First Round: $2.60 → 7.70 (100%+)
Second Round: $1.20→ 7 (300%+)
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.
Plan for Tuesday Sep 09
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.
Market Context
SPY shows consolidation in premarket, with price action bouncing between 649 and 650. The latest premarket close is 649.59, positioned above the pivot at 648.9 and below R1 at 650.57, suggesting a neutral bias with upside potential if resistances break.
BOTTOM LINE: SPY is winding up for a move
Key Events Today
No major events scheduled today, potentially leading to range-bound action.
Key Levels and Their Significance
654.12: Low priority; acts as upper resistance with historical rejection on daily charts, 40% bounce probability based on past holds, suitable for swing traders in late session.
651.51: Medium priority; resistance with volume spike >2x average on prior day, 60% probability of failed breakout reversal, ideal for scalpers at midday.
650.57 - High Priority: Resistance near premarket price, frequent bounces in data with clear rejection on 1-minute chart, 75% probability, relevant for open and early trading.
649.59: Premarket close level; shows support from recent action with volume spike, 70% hold probability, for all trader types throughout day.
648.9 - High Priority: Pivot point, multi-day high volume area with reversals, 80% probability based on frequent bounces, active at open.
647.96 - High Priority: Support with Fibonacci alignment and volume >2x average, 70% failed breakdown probability, suited for scalpers in morning.
646.29: Medium priority; support from price action lows, 65% bounce rate, for swing traders mid-session.
643.68: Low priority; deeper support with historical holds, 50% probability, relevant late day.
As you can see, today’s levels are closely packed and range is tight. unless we get range break, big profits may be tough to secure. I plan to take profits quickly at 50% unless we get some range.