Trading Plan for the days action 8/11/21

The SPI200 closed around the 7450 resistance zone into the US close. Expecting to see a flush higher on the open and bulls support price after the US infrastructure package over the weekend. If price flushes lower on open, expect that it is just to clear out some buyers prior to a run up. The DOW pushing into new highs through 36185 which we expect to see retested today ahead of the US open. Price remains in an uptrend so expecting to see sellers soaked up and buyers hold higher levels. The Hang Seng pushed down into lows around 24725…again against the flow of the US market. The underlying index may want to push lower again today from the open but prices are extended into major support which may bring in some early buyers for a squeeze up into the mid session break. The Nikkei held the 29595 level during the US session but price is in now mans land at the moment so watching the open for direction. Will be watching the reaction from buyers or sellers around 29785 or 29595.

Cryptos were higher over the weekend with BTC showing some positive price action. Bulls will be watching Bitcoin for a move back above the 64000 level while Ethereum is extended into highs around 4639 and and may need to flush out some bulls before continuing higher.

Join Our Traders Discord Channel (email for the link)

SPI200 Index

DOW Index

Hang Seng Index

Nikkei Index



Do you have a comment...okay, lets hear it!!