Asian End of Day Summary

Today was a great trading day for the bulls in Asia. I thought I would keep tonight's post very simple and show a number of Daily setups after the close that clearly illustrate the bullish scenario across the region. I believe we are going a lot higher in the next few sessions/weeks thus we must be prepared. As I write, the Eminis are also charging, breaking my 1320 key marker (note that Asia led this move).

ASX200 Daily:
I talked about the 4800 level some weeks back and reiterated it yesterday: http://swingtradersedge.blogspot.com/2011/04/asian-morning-thoughts_19.html. Today we gapped up out of 4800 and rallied all day to close on the highs. This is a very strong closing engulfing candle right out of the moving averages. Look for retests of 5000 and beyond.

SPI June 5mins:
Clear trend day for Day traders. The gap strategy I have been talking about worked wonders today. Very simply, wait for the first 10 to 15mins to trade, buy a 5min closing candle above the high of this morning range and/or short a 5min closing candle below this range. Hold to the close!

MSCI Singapore Continuous Daily:
Price pulled back to the key pivot level and moving averages, put in a hammer and was followed by today's strong closing candle. We are breaking out of a clear flag pattern and I believe a move towards the previous highs is now in play.

MSCI Taiwan Continuous Daily:
Similar to Singapore, price retested key support, held, and today's follow through was very strong. Don't be afraid to join as this market is set to go higher. A inverse Head and Shoulders pattern has now formed.

Hang Seng Continuous Daily:
A strong gap up and follow through day should be the confirmation for a strong move higher in Hong Kong out of the recent range.

Simple charts which all imply strong moves ahead of us. It is time to switch to breakout mode and don't be afraid to join this move paying higher prices- its going higher.