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5/8 Trade Plan

5/8/20263 min read

Ticker: /ES
Timeframe: 5m
Bias: Bullish → Bearish below 7,345
Theme: Strong recovery → buy pullbacks unless structure breaks

🛡️ Trade Less. Demand Confirmation. Protect Accounts.

🧭 Context

Yesterday’s selloff held firmly around 7,345, and buyers reclaimed key levels overnight. We are now holding above:

7,366–7,375 (prior highs)
7,390–7,395 (Wednesday highs)

That shifts the market back into continuation mode. Key structure now:

7,390–7,395 = primary continuation support
7,366–7,375 = deeper pullback support
7,410 = breakout trigger
7,345 = line in the sand

This is NOT the environment to aggressively fade highs unless the market clearly fails.

Key idea:

Buy pullbacks until structure breaks
Don’t fight trend at highs

📊 Key Levels

🟩 Support
7,390–7,395 — primary support
7,366–7,375 — deeper pullback demand
7,345 — breakdown trigger

🟥 Resistance
7,410 — ATH / breakout level

🟢 A+ Setup — Pullback Hold Long (Primary)

Zone: 7,390–7,395

Trigger
Pullback into support
Buyers defend / higher low

Targets
7,410

Stop Acceptance below 7,380

Notes:
👉 This is the best trade on the board
👉 Strong continuation structure

🟢 B+ Setup — Deeper Pullback Long

Zone: 7,366–7,375

Trigger
Flush into support
Strong reclaim / buyers step in

Targets
7,390
7,410

Stop Acceptance below 7,350

Notes:
👉 Backup long location
👉 Better RR if reached

🟢 A Setup — Breakout Above 7,410

Zone: Above 7,410

Trigger
Break and HOLD above ATH
No immediate rejection

Targets
Price discovery / extension

Stop Loss of 7,395

Notes:
👉 Only if it proves
👉 No chasing first push

🔴 B+ Setup — Fade at ATH

Zone: 7,410

Trigger
Push into highs
Clear rejection / failed hold

Targets
7,395
7,375

Stop Acceptance above 7,420

Notes:
👉 Counter-trend trade only
👉 Lower conviction than longs

🔴 A Setup — Breakdown Below 7,345

Zone: Below 7,345

Trigger
Loss of structure
Failed reclaim

Targets
7,320
7,300

Stop Reclaim above 7,365

Notes:
👉 Real downside only begins here

🧩 RAIN Confirmation

1️⃣ 5m acceptance at 7,395 or 7,410
2️⃣ Reaction at extremes only
3️⃣ VWAP aligned
4️⃣ No chasing

⏳ Best window: 10–11:30AM

🚫 No emotional ATH fades
🚫 No trading middle
🚫 No forcing shorts in bullish structure

SPY (5 MIN)

The 730 lows from yesterday will be a main level moving forward. Holding above that low will be crucial. Any fail below that in the future will spark downside. We reclaimed the Wednesday pre market highs between 731.70/732.56, spot to watch for pullbacks today. We have reclaimed the Wednesday HOD at 734.14/734.59, look for that to hold as a higher low today for a move into 736+

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