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 was well contained below the 7047 level which we expect to see flushed on the open. After yesterdays negative action, the weakening USD and stronger commodities, expect to see the market supported today and make back yesterdays losses which suggests a run up to 7075 and potentially higher. The DOW smashed into new highs new all time highs but is extended so we are not looking to buy until some heat has come out of the rally. A lower high shoulder may present a selling opportunity. The Hang Seng held below the 28705 area and continues to find some selling pressure during the day session. The Index continues to look tentative so we are on guard for a big corrective move lower…but maybe not today. Key levels for today are the 28705 for a break and retest long or short on a failed break…and 28535 for a flush and buy off higher low or failure short. The Nikkei held nicely above 29140 so we expect to see some continued momentum up. If price trades back down to 29140, there may be a bigger unwind of buyers into the weekend.

Cryptos were mixed with narrows ranges generally (for crypto anyway) awaiting US payrolls. Bitcoin rejected a move up and may find sellers off 56750 zone…but then again a lot off selloffs have found a bid so watching for a lower high before any short. Ethereum is holding…for now…below 3545 and we may expect to see some buyers lock in some gains and take some risk off the table if 3545 holds…but that would be expected of a seasoned trader not the crypto space.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum