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 continued lower overnight setting for a weak open on the ASX today. Watching for price to flush 7161 on the open and then will be looking for either continued weakness or some strength to come into the action. It seems that the ASX is leading the overnight markets so we may see some bargain hunting after the last few sessions. The DOW remains tentative but not willing to move lower as the macro scene remains the same….potentially bulls are just tired. Price may grind its way down although momentum looks set to shift higher. Watching for a higher low for a rally into 34065 or continued lower highs. The Hang Seng looks set to push up through 28835 so would expect to see a flush lower on the open to trap some sellers prior to a move up. On the flip side, price action is extended into resistance and may need some corrective action lower…so then will be watching for a flush of 28835 on the open before a selloff. The Nikkei (N225) drifted lower yesterday with little conviction from either bulls or bears. Price held up off 28708 so we are watching for a higher low and spike through 28880.

Crypto was tentative after some bargain hunters lifted prices (mainly on Bitcoin) early in the Asian session to defend a potential break of major support. Bitcoin is hovering around 33290 which may drag in some more buyers but we do see the longer term bearish action as far from over. Will need to see a higher low for longs of a push down from current levels and lower high for a move into 31200. Ethereum is grinding up off 1897 with new buyers generally holding on the sidelines until the outcome becomes clearer. The current grind up off 1897 is not convincing so watching to see the reaction from buyers on a spike lower before looking for longs.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum