I will put up a more detailed post on global markets a bit later. I just wanted to write out my plan for the ASX200/SPI here before the open.
My SPI Range: 4260 to 4285. Outlier level 4300
My SPI Day Trading Plan: I was looking for a retest of the previous highs in my past few posts. We are here today with the SPI indicated at 4275 early given Fridays strong move in the US. I will look to short fade 4280 and 4285 with stops above 4290. Longer term traders should wait for confirmation. I will look to scale out of shorts in the low 60s if we do get a move lower. 4255 could provide potential Long Scalping opportunities today. I will only look to get long and join this uptrend if we see some consolidation and holding of this morning gap up. Then I will join a breakout should that play out.
