How Overnight Price Action Affects SPY Trading Intraday

I wanted to make this video to discuss the overnight all time high I’ve been bringing up in the group for weeks now. Last year, we had a different scenario where overnight prices were left untested, and the market eventually did test them (and dramatically so). How do we use this piece of market information to trade? That’s what I discuss.

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SPX Options Experts

Using Fibonacci Retracement on SPY to Find New Price Levels In this video I cover Fibonacci retracements because this week has been a great example of how you can use the fibs to predict price and price moves. Basically, the move on Thursday Jan 7 2021 as of the recording of this video shows a move that is exactly 1/2 of the day prior, which is a fractal of Monday’s large move down. That move, was exactly three of yesterday’s moves. Looking at the retracement extensions we can see where price will move in new yet uncharted higher prices above. If you like this type of learning, join our discord! Get your free copy of my book 3 Winning SPY Trading Strategies! Happy trading!

How To Buy or Sell Options Based On the Price of the Underlying Stock In this video I explain how to use Thinkorswim by TD Ameritrade to place option orders, buy to open, sell to close, or stops or really any kind of order with TOS and base the order on the price of the underlying stock. For example, I buy a call option on AMD. In this case I bought the 4-24 expiration $57 strike call. And I want to get out of that option if the price of AMD dips to $56.50 or lower. You can do this with an stock, etf, or futures that you play options on. You can do it with straight stocks as well, but we play options in our group so this is to place orders on options based on the underlying price. Get a 7-day free trial of our options alerts group: And don’t forget to subscribe!

How To Create Conditional Orders with a Sell and Stop Loss in ThinkorSwim Mobile

I apologize it appears the sound in this video is not that great, but this is a huge advantage to using TD Ameritrade’s ThinkorSwim platform vs other tools and especially over Robinhood. ThinkorSwim can allow you to have a sell for profit and a stop loss order automatically execute when your buy to open order gets filled. This is a huge advantage, especially if you are unable to watch your phone all day. Or if you just don’t want to get off guard on a big move. You should always have a stop loss anyways, and this just allows you to minimize losses and maximize returns


Big Gains on Quad Witching Day

Overall we had a pretty light week in the group, with FOMC on Wednesday it was only good for scalping. Monday, Tuesday, and Thursday were overall pretty normal but choppy still. The big payoff in analysis and patience came Friday on a unique quad witching day, with some large gains. SPY overshot our target by three cents making it an excellent trade with a nice big dip.