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 kicked up strong into the US close along with other Indexes. Price is well and truly extended but we will not write off a further push higher. The key level to see hold or fail is at 6833 on the SPI and 6860 on the Index. The open for the index is earmarked for up 45/50 points which is right at the level. Will be on guard for a weaker than expected open and flush lower. If there is to be strength, then a higher low is the key. The DOW saw a big spike in the last hour of trade and is hovering just below potential resistance at 33150. If this level holds, then we will see a big double top confirmed and the pressure build to the downside. Hard to buy at these levels until we see a flush and reset for a higher low. The Hang Seng also extended into some key resistance levels around 28555. Price is extended but may flush higher to 28745 after the open. Again, hard to buy at extended levels without a higher low holding. The Index is also at a key level that if it holds, we will see a decent move down. The Nikkei did not miss out on the fun spike into the weekend and also extended on the push up into the close. Price will need to hold a higher low above 29325 for bulls and the level will need to break to see a decent move down.

Bitcoin and Ethereum were contained over the weekend and held onto the recent gains. Ethereum does not look to convincing for a move up and is looking very heavy off 1722. We will be watching for a lower high and shoulder entry to sell for a break down below 1667. Bitcoin may also produce a sell opportunity off a shoulder if the 56400 zone holds today.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum