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 took an early hit before bouncing right back to the night session open. Expecting to see some lingering negativity but would expect some bargain hunting on the ASX today after yesterdays over reaction. There is definitely an air of concern in the markets but to me, the underlying macro themes have not changed. Everyone on twitter and youtube – along with news outlets – is taking the opportunity to talk up a major selloff…which is probably on the cards, but I do not think just yet. I think that we will get through this ‘transitory’ period and then things may get rough. The DOW reacted off 33500 and then held above 33730 which we would expect to see hold today. The Hang Seng missed yesterdays action so is a tough one to plan for the open. Will need to see the open price to get an idea of levels to watch. The Nikkei (N225) held up well in the overnight session and held an inside level at 27825. We expect that this level may be tested around the open so will be watching to see the reaction from buyers.

Has the Crypto bubble burst??!! Bitcoin and other key cryptos were hit bard with Bitcoin being around 50% down from its highs at one stage. The key levels for us today on Bitcoin are 37500 and 40450. Support will need to hold to stem the tide of selling and give bulls a chance to fight back. Ethereum unwound also and remains under pressure now being capped at 2708. Watching for a lower high to confirm further selling to come. If a higher low holds, we may see a squeeze higher through 2708.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum