ESM2025 playbook: From 5,904 bounce to 6,038 upside – Key reversal zones at 5,960 and 5,904

Updated S&P 500 Futures (ESM2025) Trading Plan

As of May 20 – Post-bounce off 5,904 POC → rally to 5,960

1. Key levels

Resistances 5,960 - Recent pivot/range high

5,977–5,994 - Target zone (50–61.8% Fib of May 13 gap)

Support 5,904 - POC / VWAP mid-line—reliable demand anchor

5,926.75 - 61.8% retrace of Monday's gap-up rally

5,870 - Lower channel base & May 16 swing low

2. Market context

• Bounce Confirmed: Price respected the 5,904 POC line and has reclaimed 5,926.75, validating buyers at value control.
• VWAP Alignment: The intraday VWAP band has flipped into support, reinforcing institutional demand through the morning.
• Momentum Shift: A clean break above 5,960 would trigger a bullish acceleration toward the Fibonacci cluster near 5,977–5,994.

Friday, 16 May, close of trades

Chart update Monday 20

3. Bullish play

1. Re-test & Hold 5,926.75:
   • Entry: Scale in long on any pullback and hold above 5,926.75 + VWAP mid.
   • Targets: 5,960 → 5,977 → 5,994
   • Stop: Below 5,904
2. Breakout Above 5,960:
   • Entry: Aggressive long on 5-min close above 5,960.
   • Targets: 5,977 → 6,000 (psychological) → channel upper pitch near 6,038
   • Stop: 5,940

4. Bearish play

1. Failure at 5,960–5,977 Zone:
   • Entry: Short on a reversal candle into that resistance band.
   • Targets: 5,926.75 → 5,904 → 5,870
   • Stop: Above 5,980
2. Break Below 5,904 (POC):
   • Entry: Short on 5-min close under 5,904.
   • Targets: 5,870 → 5,845 (0% gap) → lower channel near 5,814
   • Stop: 5,920

5. Execution notes

• Volume Confirmation: Favour entries when volume spikes at your entry level.
• Risk: Keep risk per trade ≤ 1% of capital.
• Alerts: There are 5,926.75, 5,904, and 5,960 alarms for swift reaction.