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 fell apart as US Indexes opened up and sold off although the SPI200 did not recover to the same extent …which is not a surprise. Price has two levels we are watching on the open…7052 and 4042. Expecting market to flush up and then fall into the weekend potentially back down through 7035 to squeeze out some buyers. If a flush lower happens on the open, then we may see a pop back up and flat session to end the month. The DOW continued to chop between support and resistance rejecting the 33800 area to spike into the close. We see a test of 34070 on the cards today but would not expect much action prior to the US session open. The Hang Seng backed off from 29340, around levels where the underlying index closed, so we see some weakness coming into the action today…but with the HSI…it is hard to tell until the open chop builds a level for longs or shorts. If price can hold up above 29035, which it could spike into off the open, then watching for a long into the close. The Nikkei (N225) gave up the Asian session gains to push lower off 29110 to test and reject 28845. Price is expected to hold off support and continue to chop around between support at 28845 and resistance at 29110. Longer term, we expect a squeeze lower but not until the US shows some cracks. Markets are in wait and see mode at the moment.

Expecting further weakness into Bitcoin after the move down below 54050…but strange things happen with crypto. Bias down (as we are short with TradeSetup) for a move into 47900…potentially. Ethereum is holding up better as if is now the ‘keyboard warrior’ favourite. Will be watching for either a lower high and some weakness or continuation up off a higher low.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index