Price action Entry Setups Intraday – Index Plan Update

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SPI200 HANG SENG N225 and DOW Index CFDs

Time Frame : 5/30 Min Charts

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Watch Here for further Updates as the action plays out – Refresh Page during the day.

Update 10:28am – The SPI is falling…the SPI is falling…my attempt at humour! Watching for a sell entry for move down through 6084.

Update 10:32am – N225 has rallied so may see it stall and sellers come in to the action off highs…watch for sell entry.

Update 11:38am – Sell SPI200 through 6075 with 10 pt Stop Loss

Update 11:41am – That did not play out at all…hold off for now…Hang Seng moving up.

Update 11:48am – Watching for SPI200 weakness and also Hang Seng. SPI200 chart below….hopefully the bear in me is right today.

Update 12:32pm – Choppy action on the Hang Seng making a direction difficult. Price action is struggling to give a decent entry each way and looks set to retest the highs now….range day.

Update 1:15pm – N225 looking set for a good move lower…watching for a lower high for the sell entry. Make sure to work off a shoulder setup for weakness.

Update 3:26pm – Europe is about to open and the Indexes may be setting for a run lower. Happy to sell N225 through 22774 and hold stop loss at 22822. If Stop level hit prior to entry then cancel alert…Partial around 22680 to start…lows.

Pre-Market Plan

The SPI200 was sold hard into the US close but did bounce off 6084. Watching for two scenarios…a retest and bounce off support for a rally or a lower high leading to a move below the level. The DOW is starting to break down so watching for further weakness into Europe which is expected to open lower. The N225 was also sold hard into the US close off 22490 after yesterday breaking up through 22630. We expect to see a retest of 22630 so will be watching for buying interest and squeeze higher. If the open is very weak, then go with the flow lower. Expecting the US close sentiment to flow into the Opens today. The Hang Seng will need to hold 22746 for bullish action so watch for a higher low off the level. If there is clear weakness on the open, then a move down to 24488 is on the cards.

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