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 added to yesterdays gains overnight to push into resistance at 7071 which we would expect to be flushed on the open. The Nasdaq is showing good signs of moving higher after holding a double bottom and support suggesting that rates rises are off the cards for now. Watch the SPI200 for a bullish day although prices may be capped into the weekend and because….well…its the ASX!! The DOW pushed into 34210 before seeing a reaction from sellers. Price is consolidating below the level and has yet to hold minor higher low or lower high but we suspect a move down so some heat can come out of the action prior to the US open. The Hang Seng held up off the 28240 level and was bullish into the US close. We see the potential for a continued ramp up through 28545 to 28660 if 28465 holds. The underlying index looks bullish and is expected to hold a higher low to pressure into new highs. The Nikkei (N225) is also bullish and we expect a ramp higher from the open to hold above 28160.

Crypto found a bid overnight but prices remain tentative and are far from out of the woods yet with the pressure down. There was a lot of margin positions squeezed out of the action and that has taken a lot of heat out of prices and there will be a lot of ‘traders’ licking their wounds and reluctant to have a second dip. Expecting the cryptos have lost their mojo in the near term so will remain choppy which could pressure more holders out. Ethereum is looking heavy so watching for a break down while Bitcoin is also struggling below 42200.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum