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 added to the day sessions losses as overnight Indexes were sold lower. Price found sellers around 7175 which we expect to see flushed on the open. If it is not flushed, the recent session action suggests a selloff to 7120. If price does flush higher, then there is a lot of short seller fuel to be squeezed out for a rally. The DOW was hit on the open to drop around 400 points before recovery half into the close. We see the move down as a big washout on some unfounded fear from the Bond rally so expect to see some buyers to step back in to provide support. The Hang Seng also crept lower along with European and US Indexes to push down into 27625 ending just shy of the level. We are watching for a flush lower on the open and then either a lower high for a selloff or a higher low and grind up. If prices hold up on the open, then a squeeze higher is on the cards. The Nikkei (N225) is being hit on the open which may set up a move down today as overnight lows are cleared. Watching for a lower high to sell into. If price recovers, then expect to see sellers from the open squeezed out on a rally.

Crypto were a bit choppy over night as buyers initially ramped prices into the start of the European session before sellers capped the action. Ethereum looks strong and it seems only a matter of timing for the next rally to continue the trend higher. Bitcoin looks heavier and is struggling to move higher. We are watching for Bitcoin to hold above the 33650 area to drag in more bulls for a rally. If the level breaks, then a major lower high is confirmed which couls lead to another selloff.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index