Trading Plan for the days action 9/02/22

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The SPI200/ASX200 both extended on the days gains and pushed into resistance…7105 SPI and 7193 ASX. The final few minutes have already flushed the level and cleared out stops so we may see a move up to 7262 today. Will be looking for a higher low to hold after open. The DOW finally broke up through 35330 and then bulls held a retest of the level. Expecting buyers to push price up into 35650 to complete the measured move from 35060. The Hang Seng rallied hard from the Index close…up of 400 pts at one stage from the 7pm close. Expect a big gap up on the underlying index so I will find longs very sketchy….and would expect a lot of traps for bulls. Watching for a gap fill move lower to flush out some buyers. The Nikkei will also gap up on the underlying index open but could easily extend into yesterdays highs so a long through 27460 is on the cards. If the level holds again, then watching for a lower high short.

Cryptos ramped higher in the final hour of the US market and may extend on that move in the Asian session. Watching Bitcoin for a flush lower into 43300 for a higher low to hold and a potential long. Ethereum is much the same plan…look for a pullback and higher low to hold and give bulls some confidence off the EMAs.

Spot Gold extended on the previous sessions gains after holding the 1816 level. Will be watching to see how sellers react around the 1830 area. Will be watching for either a lower high short off the level or a retest after a break higher for a long.

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SPI200 Index