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 repeated the previous overnight session action with a test of support and rally into highs. Sellers stepped in around 6973 so we are expecting a flush of the highs on the open as buyers gain more confidence that inflation is not a problem. There will be a load of stop losses above 6973 and 6978 which will be a target. If weakness comes in off the open, then watching for a higher low. The DOW fell hard in the European session but bounced off 33570. Price may hold a lower high which could lead to a decent squeeze lower although movements are going to heat up over earnings. For sells, looking to work off lower highs and buys off higher lows above 33570. The Hang Seng was a whip saw yesterday as bulls and bears continue to fight it out. Longer term there is an argument for a big rally and selloff with key levels being around 28800 and 28300. Again, price ended mid range so will be watching 5min charts for higher low buys and lower high sells. The Nikkei (N225) has key support at 29560 and continues to hold lower highs. We expect to see a squeeze lower today and then will be watching for a higher low to hold for long entries. The way price rejected 29560 overnight suggests that bulls are building for a move higher.

GBPUSD did not kick off as expected but we are still watching for a move up off a higher low. The AUDUSD could extend to 0.7660 and we also have Gold on watch for continuation higher.

Bitcoin and Ethereum both had a big night but not quite as big as Ripple which exploded higher. With the Bubble continuing, longs are still the play and would like to see a washout of late buyers for price to build another higher low on both BTC and ETH.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum