Trading Plan for the days action

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SPI200 HANG SENG N225 DOW Index CFDs and Cryptos

Time Frame : 5/15/30 Min Charts

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Watch our Discord Channel for further Updates as the action plays out

Pre-Market Plan and Key Levels to watch

— Remember to work off Key Levels from charts —

The SPI200 pushed into resistance around 6810 and held the level into the close. Watching the level to see the reaction from buyers and sellers. Expect some heat to come out of the action from the yesterday and then the strong expected open on the ASX today although a push up to 6860 is not of the cards. The DOW has moved back up to the 31660 area which was previous resistance before the flush and selloff. Price is stretched higher so we are expecting some selling pressure although do not discount the bullish sentiment thanks to the US printing presses. On a side note, the USD actually strengthened as Bonds edged lower so if that theme continues, we would expect some profit taking tonight as yields remain a concern. The Hang Seng is not so convincing and has edged higher. We will be watching the 29645 level for a flush on the open and potential weakness. If the level holds then expect bullish action and a higher lows to stick for a long entry. The Nikkei (N225) retested the day sessions breakout level at 29485 before pushing higher. Price is stretched so we expect a flush lower on the open if price is targeting higher levels.

Bitcoin and Ethereum both bounced back along with the risk on sentiment. Price action is not out of the woods yet and bears are still lurking as Ethereum holds the downtrend and hovers around resistance. Bitcoin is much the same with no key upside levels broken. Price will need to consolidate the gains from 45300 and drag in more buyers to break 51100 before expecting new all time highs.

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