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 bounced back hard along with the US indexes overnight. Price trading into 7250 where it closed wo we expect to see a flush of the level on the open and then potentially some continuation higher although it may be a stretch for the ASX as it will open up 100 points. If price flushes lower on the open to squeeze out some buyers then we are watching for a higher low and ramp into the close. The DOW bounced back hard as expected and pushed into 33940. Expecting a grind higher today on a positive Asian session but the key will be around 33940 later into European trade. The Hang Seng also ramped up after the Index closed and settled up into 28665. This level will be key for us on the open and we will be watching for a flush and drop or rally up off the level into 28825. The Nikkei (N225) also pushing into potential resistance that will be key for the open. Same plan as for the Hang Seng…flush and fade off the level or rally off a retest.

Crypto took a hit as it seems that things may be falling apart for long term bulls….ie hodlrs! Bothe Bitcoin and Ethereum were hit hard and held a lower high at key areas. Bitcoin bulls will be hoping that 31150 will drag in some buyers for support and squeeze on sellers so the zone is key today. Ethereum is pushing into 1827 which will become key today. It seems that the buy the dip mentality has caught a lot of traders on the wrong side of the market and the smart money will be waiting to see what happens in the wash as both are down on major levels that will need to hold and will bring in some volatility. Patients is the key for now.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum