Will SPY return to grind today? Trade Ideas for Monday Sep 8
Did you catch 1000-2000% with us from Friday's Trade Idea? If not watch the review video to learn EXACTLY how we did it.
BOOM! On Friday our SPY 6480p flew!
On Friday I wrote the high probability trade was 652 rejection…. Target 2 level below per process and you got paid! You can see how SPX 6480p ran from 2.5 to over $30!!
If you missed out on 1000% plus gains watch this video!
Today’s Market Context
SPY is showing consolidation in premarket, with price action bouncing between 648.00 and 648.80 on low volume. The latest premarket close is 648.63, positioned above the pivot at 647.58 but below R1 at 648.92, suggesting mild bullish bias if support holds.
Key Events Today
No major events scheduled today, potentially leading to range-bound action.
Key Levels and Their Significance
652.86 - High Priority: R3 with historical resistance from multi-day high alignment at 652.05, 65% probability based on prior rejections, suitable for swing traders near close.
650.22: R2 with volume spike support from September 5 highs, 70% probability based on bounces, ideal for scalpers at mid-session.
648.92 - High Priority: R1 near current price, frequent reversals in premarket, 75% probability based on volume >2x average, active at open for day traders.
647.58 - High Priority: Pivot with consistent holds over 5 days, 80% probability from Fibonacci alignment, relevant for all traders throughout the day.
646.28: S1 with reversal patterns from September 5 lows, 70% probability based on bounces, suited for swing traders.
644.94: S2 aligned with multi-day support, 65% probability from volume spikes, active post-open.
642.30: S3 with strong historical low from data, 60% probability based on clear rejection on 1-minute chart, for longer holds.
640.96: S4 extended from range, volume support from September 3 lows, 55% probability, relevant if breakdown occurs.
Scroll down for the Trade Ideas for today..
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.
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.
Plan for Monday Sep 08
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.