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 —

Expect to see some chop today as fear may spike the volatility…it is important to work off confirmation at levels today

The SPI200 was hit along with other markets and managed to find support around 7152 before working its way back up to 7212. We are watching this level on the open to see if bears defend it or buyers start the squeeze on recent sellers….either way expect some chop on the open before a direction becomes clear. The DOW smashed into 34150 before recovering and running up to 34500. The way price held 34150 shows that the general bullish sentiment for the broader market is not lost yet. Watching for a push back into 34500. The Hang Seng took a hit during the day and continued in the European session into 26910 where price bounced into the US close. The Hang Seng has the potential to continue with the Daily weakness and push into 26005…or a lot lower below 26910 at least. Watching for a flush into the 26910 zone and then either a lower high or a higher low. If price flushes up from open and stalls, then watch for a lower high. The Nikkei (N225) was smashed into support around 27720 which we will be watching to potentially hold today. The news of the state of emergency may still keep bulls at bay so we have to be prudent to work from confirmation ie higher lows or lower highs.

Crypto had a rough night as they could not escape the broad based selloff. Bitcoin is tentatively hanging on to avoid a major selloff towards the 30k level and beyond. We are watching the 32800 area today to see how buyers and sellers react and will be on guard for a lower high and sell entry setup. Ethereum is coming under more pressure as price flushes below 2118. We will be watching this zone for a either a retest and sell setup or a push back above the level for a squeeze on sellers.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum