Trading Plan for the days action 28/10/21

The SPI200 flushed below the 7386 level in the dying minutes of the session. Price action is weak and expect to see a nervous ASX open. That said, expect SPI200 bears to take advantage and drive price into 7361 on the open. Will be watching for ether continuation or a higher low to hold. The DOW pushed down into support around 35495 into the US close. Expecting to see some back and fill for a grind higher today. If price extends into the level as Asian gets underway, we may see a move into35440. The Hang Seng held below 25685 into the close. Price earlier flushed then held 25550 so this may be a level to watch on the open. I feel it will be either a trend day lower or a squeeze on the bears up through 25685…don’t expect a ranging market today. The Nikkei retested and held 28875 before falling over into the close. Expecting to see some opening negativity with a flush below 28630 and then potentially a move into 28465. For bulls a flush and hold of 28630 could see some entries off higher lows.

Cryptos took a hit overnight especially pairs like Ripple, EOS and Litecoin while Bitcoin held up a little better. Bitcoin is consolidating and could easily extend on the move lower as to Ethereum. That being said, never discount the random bullishness of Crypto enthusiasts.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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