Trading Plan for the days action 15/02/22

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Charts Marked with ideal price action entry setups in yellow.

The SPI200/ASX200 both found buyers into the close as the US fought back from a mid session selloff. Prices pushed up to minor resistance levels into the close that will get flushed on the open so watching for either a rally up off the levels or failure lower. The DOW saw a choppy session as bulls put up a fight into 34335. The pressure is still on for now but the longer the price holds between the 34335 and 34750 zone, the higher the probability that there will be a squeeze on sellers for a push higher. Will be watching for a higher low. The Hang Seng held up off lows around 24330 with a rally on the CFD after the market had closed. Price reacted lower off 24580 but may look to test into the open. As price action ended mid-range, will be looking to work the edges ie 24580 or 24330/24290 unless a continuation pattern emerges. The Nikkei is range bound between 26875 and 27145 as bulls supported any push lower. Expecting to see a flush higher on the open so will be watching for a sell off a lower high for the range to remain in tact. If price starts to hold a higher level, then watching for a higher low.

Cryptos were fairly range bound after the weak open. Bitcoin held below 42840 but looks set for a push lower into 40900 as lower highs are holding. Ethereum pushed below 2947 and is also under some pressure from sellers. Watching for a lower high to hold off 2947 or a push above and higher low for a squeeze up.

Spot Gold continued to find a safe have bid and held a higher low around 1850 which led buyers to push price into recent highs at 1873. I feel it will be a big effort to push price up through 1873 without a pullback so expecting to see a lower high on the shorter term timeframes.

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SPI200 Index