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 had a really boring overnight session Friday being well contained between 7043 and 7022. Expect to see price potentially flush both levels on the open but then for a tame ASX open. We may see price again creep lower so watching for a lower high for a short position. If buyers can hold above 7022, then a higher low and test of 7071 is on the cards. The DOW is holding higher lows with key support at 34150 and then 34070. Expecting to see buyers hold price up off the levels today but do expect a tame session into the US open. The Hang Seng is holding up off 28260 but price action does look heavy and has the potential for a selloff today through 28260. The open will be key if price will attack 28260 or not and if price does flush….buy how much for a selloff or a bounce back above the level. The Nikkei (N225) is holding between 28470 and 28260. There is the potential for a long squeeze and move lower from the open so watching for a lower high.

Crypto was hit hard over the weekend which is good for our short on Ethereum from 2565…a partial locked in and a risk free trade on the remaining. Ethereum is holding below the 2163 level which we expect will be the line in the sand today. Either buyers will break and price will squeeze on short sellers for a move up or we will see the level hold (maybe after a washout) and then continue lower. Bitcoin is also under pressure but ‘dip buyers’ just can not help themselves. The problem we see now is that a lot of margin positions have been closed so that will make them tentative to dive back in leaving a lack of buyers to support price. With the action on its knees, there will be many still questioning whether they should cut and run or become bag holders. We expect that there will still be more downside to come.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index