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 ramped higher once Europe opened and price pushed up into 7298. Expect the level to be flushed on the open to clear out some stops but it is hard to see price continuing much higher today. The ASX is expected to open up 70pts so we may see another grind lower into the close. The DOW has established and uptrend off 33760 and we expect to see that continue into 35020 prior to Europe open. Price may get led around by the Asian markets but we do expect to see a grindy market being biased up. The Hang Seng continued to work its way higher with 27545 the next target. The underlying index has pushed into support so we see the potential for a short squeeze today after the recent selloff. If any spike higher is quickly rejected, then watching for another push into support. The Nikkei (N225) also ramped higher up through 27865. We expect that some buyers will need to be flushed out before continuation higher so watching for a minor higher low to work longs off after a flush. Price could just as easily spike higher out of the gates so we will watch the action into 28125.

Crypto found a major bid across the board overnight as prices ramped higher with Bitcoin and Ethereum leading the charge. Bargain hunters were in force off major lows but price is now extended and will need a pullback before enticing traders back into the action in the near term. Bitcoin traded into 32275 where sellers stepped in to lock in some gains and we expect that this level is key today for either a move lower and squeeze on buyers through 31550 or for the 31550 level to hold and a ramp up and through 32275. Ethereum also ramped into a resistance zone around 2028 where sellers stepped in to defend a move through. Much like Bitcoin, this level is key for either a squeeze lower or ramp higher.

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SPI200 Index

DOW Index

Hang Seng Index

Japan N225 Index

Bitcoin

Ethereum