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 moved down off the days session close to add more weakness to the action. Price retested the days close before holding a lower high into the US close. Watching for a washout lower and then for some bargain hunters to come into the action on the open. If Price holds below the 6690 area then expect some further weakness today. The DOW came under pressure after a rush up through 33165 and cleared out some bulls from the recent action. The key level is 32790 which we will be watching for some action on a test. If price pushes higher, watch for a lower high to hold for a deeper correction lower into the weekend. The Hang Seng is in no mans land after falling away from the days highs around 29570. Price held a minor lower high at 29330 which may come under fire around the open prior to some bearish action and move lower. Watching though for a spike into 28890 to drag in some sellers before a bounce off the zone. This would match with a gap close (or gap down) on the underlying index into a potential bid zone. The Nikkei (N225) will need to hold current levels if bulls want to see higher prices. In saying that, we are expecting to see a gap down on the open and test the 29785 area before a bounce.

Bitcoin is showing some weakness off the 59517 level after the ‘puimpfake’ through and failure back below to clean out some buyers. If price grinds its way back up and starts to stall at a lower level, we are looking for sell entries and a squeeze lower. Price may just need to drag in some buyers off 57215 prior to a move down. Ethereum also looks heavy and we expect to see bulls conviction tested today. If price holds a lower highs below 1830, then we are looking for sells.

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