SPY takes a breather yesterday and gapping up again this morning! Trade Ideas for Thu Jun 26
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.
Yesterday I wrote I was looking for a gap up reversal and we got exactly that. I wanted more push on the open but we essentially got a fail of 608 level and not 610s.
That’s ok. We also saw NVDA and COIN initially dump and provide reload long opportunities.
I’ll go over how I approached these trades and more.
As for this morning I correctly read yesterday’s afternoon action as BTFD and we are gapping up to secure gains.
I’ll go over the trades I planned as well as cover my ideas for today.
SPY / SPX
IDEA: 608 will reject and we will test 606.40 and maybe 604.
I first made a plan to take SPX 6100/6105 bear calls for 3 -3.50
What a perfect all day fader! Guys Credit Selling is a fantastic why to make moeny and not sweat the action. Especially when contrats are juiced. I expected yesterday to be a consolidation day and not make more highs and when we can risk $1 to make $3. why not take it. 5 minutes of work to prep the entry and trake profit orders and that’s it.
I was originally going to load up on puts but i didn’t like the contract pricing so I decided to trade futures!
The idea to wait for the first hour to complete and then I decide why not take a short vs double top. it’s great risk/reward!
That position paid super nice!
It took all day thought. the first payout came inside 40 minutes.
The second pay out came after lunch. about 3 hours later.
But the best part was to just use bracket orders and walk away.
IDEA: the 606.40 break and 13:30 dump was a failed break down reversal
I decided to trade this with futures because again I didn’t love the pricing on the options.
IDEA: the 606.40 break and 13:30 dump was a failed break down reversal and will lead to a gap up
So guys, I’m sick and tired of all these moves happening overnight and so I wanted to find a way to profit from it in a leveraged why with great risk/reward.
I can with /ES.
So futures opens at 6pm ET. we got a double bottom around 6146 which I recall as being of volume/interest during regular session. Basically set stops at 6140.
So 5 points of risk. I want to take profits at 15 and 25 points. for 3 and 5R.
6145+15 = 6160
6145+25- 6170.
Don’t you love math too? down to 10% size on runners.
COIN
I alerted swing long 400c for July at $2. these reached over $13 today. Locked in 80% and reload at 6.
NVDA
had massive call buying so I alerted 155 and 160 calls. as swings.
I saw massive volume in 160c. in theory NVDA is on track to see 180+. it got a 250 price target yesterday and it has broken out of a multi month consolidation period. Maybe we see 170-180 into Friday.
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 Tuesday price action:
SPY has brokedn out of 2 weeks of consolidation. Should see 610 this week
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 Thu Jun 26
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…