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 managed to hold up off 7193 with price edging up off the level into the US close. Watching for a test and hold of 7193 for a long entry or a lower high for a move lower towards 7161. If price ramps straight from the open, watch for a higher low around 7225 and push up to 7253. The DOW has a minor support zone at 34420 and major down at 34265. Price is a little extended but we do not expect a lot of downside today ahead of the US session as bullish sentiment remains strong for now. Watch for a higher low long entry on a lower timeframe chart. The Hang Seng if holding above 29090 and just below 29370 in no mans land for us. We want to see a flush up into 29370 and will be watching for a lower high to start the squeeze on Fridays bulls. If the level can hold and consolidate the level, then a rally into the close will be on the cards. The Nikkei (N225) is being held between 2900 and 29127 which will be the key levels today. Want to see the reaction from buyers and sellers around the levels before looking for a lower high or higher low entry setup.

Crypto found some very bullish action a few hours ago into the start of the Asian session with bitcoin leading the spike higher. Bitcoin is holding up off major support that will give bulls some confidence. We expect that the action will remain choppy and lack a trend for now so watching Bitcoin around 34950 before looking for a buy or sell setup as price is extended. Ethereum is much the same with the buyers running out of steam. For shorts, we will want to see a clear lower high or an extension into 2040.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index