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 edged its way lower off the days session highs and moved back below the 6812 area. We expect to see some overflow bullishness on the ASX open and a run higher on the SPI200 so watching for a minor higher low to work a long off. The anchor to the move up is at 6778 so if this level comes under fire we can expect a reaction from buyers. The DOW backed off into minor support at 32790 which we expect to hold today into FOMC. Price action is showing a little more weakness than before and could see some short term covering for a move down towards 32640. The Hang Seng was a basket case yesterday with both sides of the markets getting chopped apart. Price edged its way higher in the European and US sessions to test 29120 which we expect to get a flush on the open. From here, the action could go either way…bulls could ramp to 29480 or bears could flush to 28765 or lower….so the open is important…or maybe we chop around again between 28765 and 29120. The Nikkei (N225) is on the verge of holding a minor lower high and pushing down to 29750. We may see a decent breakdown if the level can not hold and the recent uptrend breaks.

Bitcoin and Ethereum were knocked around in the Asian session yesterday but managed to make back the losses into European and US trade. With Bitcoin, the 57265 level is key as to whether bears can hold it in tact or bulls break through the level for a ramp higher. Ethereums key level for the day is around 1807 and the same applies as with Bitcoin. Watching for a reaction lower off the level or up and through.

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