Trading Plan for the days action

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 and PRICE ACTION to watch

— Remember to work off Key Levels from charts —

The SPI200 flushed the 6741 support zone into the close as the US sold off. We expect to see some action lower on the ASX open as some of yesterdays buyers feel a bit of heat. It will be interesting to see if the ASX is again ramped up off the lows as buyers try to fend off a selloff into the ASX through 6660. The DOW is ranging and also protecting support around 32390. We may see some more of the same action as yesterday and a flush of stops below the level and then rally. The Hang Seng has had two selloff days and may be setting for a third but that may be a big ask. The next key level is a long way down but the Index has broken the uptrend and is heading south. Watching to see if price can test 27980 to flush some stops. From there it will be about a lower high or higher low for a squeeze on sellers. The Nikkei (N225) is under pressure and holding lower highs. The important level for the day is at 28300 which we expect to be tested today around the open. Momentum is set for a swing lower which suggests a break below the level but buyers may put up a fight first.

Bitcoin and Ethereum both had a big selloff in the US session to give up earlier gains. Price has extended into support so we will be watching for a reaction from bulls especially in Bitcoin. Not trying to pick a bottom is key…let the action show some buying support and selling exhaustion first.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum