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 on charts and SEE THE TRADE first —

The SPI200 worked its way off lows into 6992 and is showing signs of consolidating the highs. We expect to see a flush lower to clear out some buyers and then bulls to support price for a move higher. Concerns still linger in the markets as the inflation narrative gathers steam so we may see a selloff if 7026 does not hold. The DOW held 34210 and is set to test to the 34460 area today. Expecting prices to be contained though until the US opens tonight. The Hang Seng and Nikkei may feel more pressure today due to covid concerns which weighed on the action yesterday. We may see the Hang Seng push up through 28240 which is the key level for today. Watching for a key higher low to hold for a rally or a flush and fall and the level to hold the action down. The Nikkei (N225) looks to be forming a base after yesterdays selloff probably anticipating a big move lower in the US. Watching for higher lows today and a squeeze on sellers.

Also like the AUDUSD for a buying opportunity if the higher low holds at 0.7760.

Cryptos were held down overnight…accept for Ripple which rallied…and continue to find pressure. The strange thing is that buyers can not support this time and the weight of numbers seem to be on the sell side. Previously, prices would reject lows and the ‘buy the dip’ mentality was strong….not as much now. May be some margin positions coming under pressure. Watching for price to either base and squeeze some sellers or for lower highs and a selloff…simple today.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index