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 took a smaller hit that would have been expected considering the action in the US but so to did European Indexes. We may be in a major process of trapping sellers on inflation concerns only to ramp up off support levels for a squeeze higher. If not, then batten down the hatches. The SPI200 moved back into support around 6977 which marries up with the 7000 level on the ASX which is where we expect price to open. We may have over factored in weakness the last couple of sessions so we expect a flush of 6977 on the open and then will be watching for a short squeeze. The DOW pushed below the 33800 level so it will either retest and fail again for shorts or pop straight back above and hold a higher low for short a squeeze. The Hang Seng was generally in a wide range yesterday between 27820 and 28160. Support may confirm at 27820 on the open in which case we are looking for longs. If price back and fills early to drag in some buyers to trap them, then watch for a late surge lower through support. The NIkkei has had a very rough few sessions with a major selloff. Expecting to see price extend the losses on the open but to then potentially find a bid for a squeeze higher.

Cryptos took a hit overnight with the risk off tone and are coming under more pressure as we speak. There will be a lot of keyboard warriors that will feel the pinch no matter how bullish twitter remains. We are watching for Ethereum to test the 3906 area even down to 3794 but to hold the longer term trend up. Bitcoin is not looking as convincing with a move down under way. The daily has the potential for a major correction off a lower high which could really start to trigger some sellers into action.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index