Will SPY see 660 today? Trade Ideas for Fri Sep 12
High Probability Trade Idea (Flip) Worked! Be sure to Protect Your Capital Today in case reversals come.
Yesterday the high Probability Idea’s alternative plan worked perfectly. i wrote:
The idea wa that we could reject 654.60, but instead we cleared it. So go long. It was an ORB 15 breakout with ORB 15 low bouncing off the level below. It then quickly ran right to the level above and rough midpoint to the next level.
90% of the action was in the first 2 hours and then the last 30minute gave a play. I was off on my targeting. I alert 6590p for 1 which popped to 2.50-3 but it dipped to 0.50 which would have given the 300%+ gainer I wanted. instead I only collected 50% on the first pop and fail. That last 5 minute volatily is incredibly tricky!
that said we did plan and scoop 6590c for around 1-1.50 and it ran to 4+ :)
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 12
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 closed the previous day at 657.49 and is currently at 657.37 in premarket, positioning it above the pivot at 656.3. Recent price action shows consolidation with a slight upward bias, but watch for reversals at nearby supports and resistances.
Key Events Today
10:00 - Consumer sentiment
Key Levels and Their Significance
668.71: Projected R3. Super unlikely to hit,but high probability short.
662.38: Projected R2
660.11 - High Priority: Projected Resistance; 75% probability
658.33 - High Priority: Yesterday's High; All Time High
656.30 - High Priority: Pivot point; 80% probability from repeated holds and Fibonacci alignment; relevant for all trader types throughout the day.
653.78 - High Priority: Support level; 70% probability based on bounces with 2x average volume; suitable for scalpers early in session.
649.72: Lower support; 55% probability from multi-day low alignment; best for swing traders if tested later.
643.39: Deep support;