Trading Plan for the days action 27/10/21

The SPI200 had a flat overnight session as price gave back early gains into the US close. Price held above support around 7409 and also held a lower high at 7424. Ideally, bulls would love to see a flush of 7409 to trap some sellers, and then a ramp up through 7424 to squeeze them back out. Bears would simply like to see a break and hold below 7409. The DOW again moved higher in messy price action. I am not seeing clear levels build or hold as algo traders continue to flush levels and reverse (good for The 5 Minute Trading Day strategy though). Watching 35750 for a flush and hold into the US open. The Hang Seng was a grind yesterday as any buyers were squeezed out of the action. Price held a lower high at 26080 and extended on the day losses below 25855. The open will be important for a heads up whether the Index wants to fall or start to squeeze yesterdays sellers. The Nikkei held a lower high at 29040 and up off support at 28925. Watching for a flush of support and then continuation on yesterdays strength.

Cryptos were again mixed with Bitcoin under pressure and Ethereum moving higher although it has taken a hit in the previous hour. Watching bitcoin around support at 60500 for either a reaction higher or follow through weakness. Ethereum is holding an uptrend but lacking conviction. Watching the 4113 support level or 4262 resistance for action.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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