NEW INDICATOR ALERT — SHOP TRADING TOOLS NOW
8/21 Trade Plan
8/21/20262 min read
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⚡ Trade Plan
Ticker: /ES (September Contract)
Bias: Neutral → Bearish Below 7720
Market Condition: Recovery Attempt After Sell-Off
🛡️ Trade Less. Demand Confirmation. Protect Accounts.
🧭 Context
ES sold off yesterday, found support around 7657–7670, and has bounced back toward the first resistance zone.
Price is currently 7695, just below 7698–7724. This is the decision area.
Reclaim 7698 → 7724 → 7756–7764
Reject 7698 → 7648–7632
Keep it simple: we're looking for the market to prove whether this is a recovery or just a bounce inside yesterday's sell-off.
📊 Key Levels
🟥 Resistance
7739.50 ⭐ Previous ATH
7764.58
7794–7800
🟩 Support
7718 ⭐ Key Support
7648.75–7632
7583.51 — 50 DMA
⭐ Highest Probability — 7720 Reclaim Long
Trigger: Reclaim 7720–7724 and hold above it with responsive buying/acceptance.
Target: 7756–7764
Invalidation: Acceptance back below 7698.
🟢 Second Opportunity — 7720 Rejection Short
Trigger: Continued rejection at 7698–7724, followed by a clean break and retest below 7698.
Target: 7648 → 7632
Invalidation: Reclaim above 7724.
🟡 Only If — 7632–7650 Support Long
Trigger: Deeper pullback into 7632–7650 / 20DMA support with responsive buying and a reclaim.
Target: 7698 → 7720–7724
Invalidation: Acceptance below 7632.
🔴 Avoid
Chasing longs underneath 7720 without confirmation.
Shorting directly into 7632–7650 support.
Forcing trades between 7698–7724 without confirmation.
Treating a hold of the 20DMA as bullish continuation without a 7720 reclaim.
🎯 Focus
7650 / 20 DMA holds → look for reclaims.
7720 reclaims → upside toward 7760.
7720 rejects → rotation back toward 7650.
7632 fails → downside toward 7570.
Today's Reminder: Support holding is not enough. We need the reclaim.
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