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 with KEY LEVELS and PRICE ACTION to watch

— Remember to work off Key Levels on charts and SEE THE TRADE first —

It is always important to work off confirmation at levels

The SPI200 pushed into support at 7226 which we would expect to see flushed on the open. From there, it will be a day of continuation lower off a lower high or a move back up above the 7226 level and a grind up. The DOW ended below the 34700 area with no real support level for 250 points lower so we expect to see a grind up to squeeze some sellers prior to the European session. The Hang Seng came under pressure from the US open. Price pushed into support at 27700 but ended just above the level. This level will be key today for us to watch for a flush and bounce or a lower high continuation setup lower. The Index flushed highs Friday before moving lower which my signal some risk off today. The Nikkei (N225) will look to flush below 27660 and bounce or trade lower into 27435 lows. Price is getting a head of steam down so bears remain in control.

Crypto chopped around the lows over the weekend with sellers capping rallies while tentative buying held prices off key lows. Bitcoin may extend down into key support today after trapping some traders short on a spike higher. Bulls will need to push price back above the 31850 area to fend off more selling today. Ethereum is also holding just off a key support area and could extend into the zone today to squeeze out some buyers. There remains a lot of committed ETH buyers who are yet to close so there remains the potential for a bigger move down into 1740.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum