Want 500%+? First, stay safe. FOMC Volatility today! Trade Ideas for Wed Sep 17.
BOOM! 500-1000% gain in a narrow market secured! FREE LESSON: Don't just think about why to get into a trade, add why not to get into a trade in your trading!
Sorry for the delay in publishing. it took some time for the video to upload and process.
SPY has been consolidating in a tight range for a few “frustrating” days now. Everyone is wondering not just what will the Fed do with interest rates, but how will market react. I’m expecting volatility and for new traders, I would suggest trade small or avoid! There should be plenty of opportunity after the news and tomorrow.
That said the key levels remain and if reach and react to them, there could be some great money to be made.
One of the most important things you need to know as traders is when NOT to trade. Things brings us to yesterday….
VIDEO REVIEW of SPX on Tuesday
There is a lot to learn in today’s video. Be sure to watch it. I often get frustrated by these low range days, but then I remind myself, these can pay 500-1000% end of day and we got exactly that!
Was the video helpful? What do you think?
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 Wed Sep 17
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 is trading in a narrow premarket range around 659.80, positioned just below the pivot at 660.53 and above key support at 658.42, suggesting a neutral to slightly bearish bias amid consolidation patterns from recent days. Chart analysis shows repeated rejections at higher resistances like 661.86, with volume spikes indicating potential failed breakouts if price dips below supports. The latest premarket close at 659.80 hints at caution ahead of today’s FOMC event, favoring reversal setups near these levels.
### Key Events Today
- 14:00 ET - FOMC Interest Rate Decision - Announcement of federal funds rate, with forecasts for potential cut to 4.75-5.00% based on economic data.
- 14:30 ET - FOMC Press Conference - Fed Chair's remarks on monetary policy outlook, likely influencing market volatility.
### Key Levels and Their Significance
- 667.41: High resistance with low probability of touch today; historical multi-day high from extended data, volume spikes >2x average on rejections, 60% bounce rate, suitable for swing traders near close.
- 663.97: Resistance, potential for failed breakout reversal; aligns with recent highs and Fibonacci level, 65% rejection on 1-minute chart, active mid-session for scalpers.
- 661.86 - High Priority: Resistance likely to be touched today.
- 660.53: Pivot point; central level for intraday balance, shows clear rejections in recent sessions, 70% probability.
- 658.42 - High Priority: Support within 0.5% of premarket price; multi-day low with volume spikes, 80% bounce rate, strong for scalpers on failed breakdowns early session.
- 657.09: Support; potential failed breakdown reversal, aligned with price action bounces, 65% probability, suited for swing traders mid-day.
- 653.65: Low support, unlikely touch today; extended data low with volume support, 55% hold rate, for longer-term positions if breached.
Tips for Recognizing When a Trade Idea Is in Play
Volume Surge: Look for volume >2x average on reversal candles at key levels to confirm momentum shift.
Candle Rejection: Watch for long wicks rejecting the level, indicating failed break.
Premarket Alignment: Check if price action in premarket mirrors the level's historical behavior.
Time Sensitivity: Focus on open or post-event periods when volatility peaks.
Confirmation Signal: Wait for a close above/below the level before entry.
Risk Check: Ensure stop loss placement maintains 1:2 reward ratio based on targets.
