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 drifted lower off the days highs but held the 7372 area. Like yesterday on the open, we expect to see a flush of 7372 and 7400 before the SPI200 gets some direction. Price does look coiled and ready to rally again so we are bias up. The DOW edged lower to retest 34240 which we would expect to see hold today. We do not expect to see a lot of action until the FOMC which could trigger some risk on sentiment again and a rally. The Hang Seng held 28510 after a push down to 28440 to flush out buyers. There maybe some back and fill today so we are watching for a spike lower on the open to build a higher low. If price clears out 28660, then watching for a retest and hold for longs or a lower high failure for shorts. The Nikkei (N225) is expected to test towards 29274 before we see some buyers willing to dip their toes in the water for support. If price flushes higher to break the downtrend, then watching for a higher low buy setup.

Crypto was well contained overnight with Bitcoin managing to consolidate recent gains. Bitcoin is holding up off 39500 which will need to hold today for bulls to see higher prices. If the level breaks then we are watching for a short and unwind of recent buyers. Ethereum is looking heavier and set to push through 2522. Watching to see the reaction from bulls on a move down.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum