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 took a hit off resistance at 7228 at the start of the US session and never recovered. Price pushed into 7178 which we expect to be flushed on the open today. Expecting to see more weakness early and a move into 7161. The DOW moved into 34200 before finding some buyers willing to support the level. Expecting to see a grind higher today as price holds a minor higher low. The Hang Seng was closed for most of the session due to weather issues in Hong Kong. Key levels for the session remain at 29355 and 29200 (refer to chart for price action sequences and trade plan). The Nikkei edged lower after testing the 29127 level. Buyers seem happy to remain on the sidelines which opens up for a move into 28708 if a key lower high can hold. Either way, markets are being well contained at the moment as volatility takes a breather.

Crypto were mixed with some consolidating sideways for the session while others found a bid. Ethereum moved up through resistance at 2040 and held above the level into the US close. Expect that there will be some more bulls and a bit of FOMO to lift price during the Asian session today so we are watching for a higher low and expansion up towards 2285. Bitcoin struggled and still seems heavy as traders attention moves into Ethereum. Key level for a sell setup is off 34950 off a lower high. At the moment, price is moving sideways so we would like to see a flush lower and then a lower high to put the pressure on.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index