Trading Plan for the days action 29/10/21

The SPI200 spiked into the US close setting to target a flush up through 7423 on the open. Will be watching for a retest and push higher being the end of month…or a failure and grind back below the level. The DOW extended up through 35700 into the close and is managing to hold onto the gains. Expecting to see a flush lower if bulls want to see a move into 35825 so there may be an opportunity to buy off a higher low on the lower timeframe charts. The Hang Seng did all its work early pushing into 25445 before grinding higher into the US close. For now, price is in no mans land so watching for a move into 25445 or up to 25630/25680 for some action. The Nikkei backed away from 28890 again so this will be a key level for the open. Price has held higher lows at 28745 and then up at 28810 so there may be a squeeze lower as there is some ‘buy’ fuel lined up. Same said for a flush up and continuation through 28890…enough fuel to drive higher.

Cryptos managed to make back some recent losses to edge higher. Bitcoin saw a big spike lower on news, 4% in a minute, before ramping straight back up again. Watching the 61450 level on BTC to see if sellers again step in or whether the spike lower was just your everyday price manipulation to set at a lower level prior to a run higher. Ethereum is more settled with the move up but is extending into the 4335 zone which is key for us today.

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SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



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