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 initially fell over at the start of the European session before bouncing back into the US close. Price held below the 7224 level wo we will be watching for a fade lower and lower high sell setup or continued push higher and a higher low long. The DOW extended up through recent highs at 34500 but momentum may be fading. Will not look to buy until some buyers have been squeezed out on a pullback and price reset. For shorts, we will need to see a lower high start to hold. The Hang Seng held the negative tone into the close with 28725 being support. Price may flush higher on the open in which case we will look for a lower high and move down. If 28725 comes under pressure on the open, then a lower high and continuation down or a retest and higher low are the plays. The Nikkei (N225) is extending higher in after market CFD trading so will be on guard for a spike and failure again. The Nikkei seems uncertain so we may see a further selloff although the reaction off 28550 has been strong.

Crypto generally edged lower in European trade before a sudden move up across the board early in the US session. Bitcoin lacked the enthusiasm of other cryptos on the rally and found resistance at 34950. For a buy, we want to see a flush lower and a higher low hold while for sells, we want to see the opposite but a deeper move down before the lower high. Ethereum looked stronger with a push up through previous highs and into resistance at 2285. Plan is for a push up through 2285 and for a retest to hold for longs, while for longs looking for price to flush up and fail back below.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum