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 lower in the European session as the DAX and FTSE fell over but then rallied straight back to resistance at 6780. Expect that the level will get flushed on the open and then it will be about failed highs for a sell or a higher low and continuation of the move up. The ASX has been supported well the last few days so may get another ramp today. If the ASX holds above yesterdays close then up we go…but if the 6805 level holds a retest, then expect to see some profit taking and selling into the weekend. The DOW saw a big flush of 32390 before price was ramped back up into the range. The way if moved up suggests that bulls have not finished yet and may push price higher today and tonight through 32790. The Hang Seng was a tough session yesterday as any continuation selling was soaked up on spikes lower. Price ended the overnight session with a push into resistance at 27980 so may get flushed on the open. Expect that this level will be the key…if sellers defend then expect a spike higher to trap some buyers and a squeeze lower. If the initial action is lower like yesterday and runs into a buy wall, then a higher low is the play. The Nikkei (N225) edged its way higher all session to end just below a minor lower high at 29100. Expect that the level will be flushed on the open and then a back and fill into the range. If a higher low then holds, we are looking for another leg higher. If a lower high holds below 29100, then a squeeze lower is on the cards. If price pulls back from the open, then watching for a higher low and expansion through 29100.

Bitcoin and Ethereum found some further selling pressure overnight and bulls never really had any luck. Bitcoin has found a low at 50620 and may need to retest the level before a run higher…even test 51380. Bulls will need to push back up through 53250 to fend off a bigger move down. Ethereum is holding below 1618 and looking set for another push lower off the level. Bulls will need to hold a higher low and run price back up through 1618 to bring in fresh buyers off the sidelines.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index