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 held between the days highs and lows and finished below 7253 at the close. Expecting to see a flush of 7253 and then will be watching to see if there is any further strength to follow on from yesterday. If price falls from the open, then will be watching to see the action from buyers around 7237. The DOW is trading around 33940 resistance so watching for a further grind up off the level or a move back below to flush out some buyers. The Hang Seng edged its way higher once the index closed so expect to see a gap up on the physical index. From there, we are watching for a gap fill and extension lower or for a grind higher into 28490. The way the Hang Seng ended yesterday we may see some catchup to other markets and a rally. The Nikkei pushed up into 28880 and may add to previous sessions gains as long as the recent higher lows hold.

Crypto were hit overnight in the European session before bouncing back in US trade on the back of a meltdown into Bitcoin through 30K. Price did make back a lot of the gains but bulls will need to defend from another push below the level if they want to see another rally. Expecting to see Bitcoin edge down off 33290 potentially to retest the 31200 area. Watching Ethereum to also grind higher today and drag in some more shorts for a potential squeeze back up. Either way, the longer term pressure remains lower on both BTC and ETH.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum