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 was generally range bound over night lacking any direction from either bulls or bears. Price held between 7293 and the day sessions lows around 7270. After yesterday, price may gains some ground although we would expect to see a flush lower on the open first to clear out the overnight buyers. The DOW pushed below the 34655 level and looks set to grind lower today. Watching for a test lower but do expect any downside to be contained as traders generally await CPI data. The Hang Seng was sold off yesterday on the open before bouncing off 28630. Price is in no mans land for us so we would like to see a flush lower and then a higher low to hold or the reverse on the upside. Price action does look like it could have another leg down but…knowing the HSI…it will probably squeeze out sellers before the European session. The Nikkei (N225) held the 29140 level after falling hard on yesterdays open to test into 28935 which held. Expecting to see a flush higher and then a squeeze lower off 29140/29190.

Crypto took a hit after the US close with Bitcoin breaking down through support and dragging other pairs and Alts with it. Expecting Bitcoin to at least flush some stops below 33450 before a rally can hold. If price flushes too hard, then a short on a retest of 33450 from beneath is on the cards. Ethereum is holding up off 2550 but has broken the recent uptrend. As price fails to go higher, there will be more crypto gurus getting nervous and may be forced to lock away some risk. Watching for 2550 to be flushed and looking for the same scenario as with Bitcoin.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum