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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Pre-Market Plan and Key Levels to watch

— Remember to work off Key Levels from charts —

The SPI200 pushed up into previous highs and a resistance zone around 6764/80. The anchor to the move up is at 6764 with a higher low at 6722. Expect a flush higher but for buyers to be tentative so watching for a lower high off the zone. The DOW is extended up into 32868 which we expect to see some profit taking from buyers. It may extend the level so watching for a lower high to build. If not, then expect a grind higher. The Hang Seng reacted off 28564 after a beating during the Asian and European sessions. Price is not too convincing from the bulls so we may see a test below 28430. The Nikkei (N225) reacted off 29740 but edged its way back up to the area into the US close. Watching for a flush up through the level on the open and then will be watching for a lower high or higher low for direction.

Bitcoin and Ethereum ramped higher over the weekend so we may see some catchup buying in the Asian session. Etheeum will need to hold around 1867 for another leg higher which it looks poised to do. If not then a deeper grind lower is on the cards. Bitcoin is edging down off highs as buyers will be tempted to lock in some gains. Price could ramp higher from here but we expect some more heat to come out of the action for a test down to 58500 area but hold the trend up.

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