NQ Daily Trade Plan โ 2026-08-19
๐ง Current Context Today was a clean down day that worked through the plan level by level. The Pivot Bull at 30074โ30090 failed in globex and never recovered, setting the tone for the entire session. From there, price sold through each level in sequence: the 29912 short beneath failed recovery triggered cleanly, 29650 offered a long scalp that pushed back to 29770, where the short below after failed bounce activated and delivered a strong move back down. The 29550 level then produced a textbook failed breakdown that ran back to 29650, before selling again and returning to 29550 where price is currently consolidating around 29570. Every level on today's plan performed. The structure has now shifted meaningfully lower. What was support all week โ 30074, 29912, 29733, 29650 โ is now resistance above current price. Bears have been in control since the globex break of 30074 and remain so until NQ reclaims and holds 29650, then 29733. Until those levels are recovered, any bounce should be treated as a counter-trend opportunity rather than a resumption of the prior bullish structure. Price is consolidating just above 29550. This level has been tested twice today and held both times. The key question for tomorrow: is this a base forming above 29550 before a recovery attempt, or is it a pause before continuation lower toward 29426 and 29233? ๐ Short-Term Structure NQ is trading around 29570, just above the 29550 level that acted as failed breakdown support twice today. Resistance above starts at 29650 โ the level that produced a long scalp earlier today and is now the first barrier to any recovery. Above that, 29733 and 29912 are the next resistance zones. On the downside, if 29550 fails, 29426 is the next major support, followed by 29233 and 29192. Bears remain in control below 29650. Any bounce into this level that fails to hold becomes a short setup. Bulls need a reclaim of 29650 and acceptance above it before any bullish structure returns. ๐ข Bullish Strategy The cleanest bullish setup for tomorrow is a failed breakdown at 29550 โ price traps below it briefly then recovers quickly above it. This level has proven itself today and a second trap below it before a recovery would be the highest quality long entry available. Target on recovery: 29650. If 29550 fails to hold and price drops further, the next actionable longs are at 29426 and 29233. These are deep support levels from the prior structure and a failed breakdown of either offers a valid long with a clear level as stop reference. The 29426 level is a prior resistance shelf that broke out to fuel the August rally โ a backtest and failed breakdown there is particularly significant. For a more aggressive bullish play: if price reclaims and accepts above 29650, that level transition from resistance to support would signal improving structure and open a path toward 29733, then 29912. But this requires clear acceptance, not just a wick above. โ Bearish Strategy Bears maintain control below 29650. The primary short setup for tomorrow is a bounce into 29650 that fails to hold โ a failed recovery and rejection from this level activates the short beneath with the target at 29550 and 29426. The same pattern applies at 29733 if price gets that high. If 29550 fails cleanly with no immediate recovery, the short beneath activated below 29550 targets 29426, then 29233. These are clean continuation trades within the current bearish structure. The 29912 short beneath after failed recovery also remains on the plan in case of a larger bounce. The deeper bear case develops if 29426 fails. Below that, 29233 and 29192 are the next meaningful supports, and the broader structure would be in serious damage if those levels are tested. โ Summary NQ has shifted into bearish control after today's full down day. Price is consolidating above 29550 around 29570. Tomorrow's key setup is either a failed breakdown of 29550 for a long scalp toward 29650, or a rejection at 29650 for a continuation short toward 29550 and 29426. All levels carry over unchanged from the prior plan โ the same prices now function as resistance above rather than support. Bears remain in control below 29650. Bulls need a reclaim of 29650 and then 29733 to begin restoring structure. NQ Levels ๐ Support Levels: 29550, 29426, 29233, 29192, 29067, 28964, 28831 ๐ Resistance Levels: 29650, 29733, 29912, 29984, 30074, 30150, 30277, 30350 ๐ Plan Going Forward Above โ: 29550 โ 29650 โ 29733 โ 29912 โ 29984 โ 30074 Below โ: 29550 โ 29426 โ 29233 โ 29192 โ 29067 โ 28964 โ Key Confirmations: Strength confirmed above 30077 Weakness confirmed below 29426 โ Pivot Bull: 29912โ29926 โ Pivot Bear: 29526โ29550 ๐ Trade Ideas: ๐ท Long fail & reclaim: 29550 ๐ท Counter Trend Long: 29426 ๐ท Long fail & reclaim: 29233 ๐ท Counter Trend Long: 29177 ๐ท Long Direct or FBD: 29067 ๐ท Long fail & reclaim: 28964 ๐ท Long if reclaim and hold: 29733 ๐ท Long if reclaim and hold: 29650 ๐ถ Counter Trend Short: 29912 ๐ถ Counter Trend Short: 29984 ๐ถ Counter Trend Short: 30074 ๐ด Short Beneath Bounce: 29550 ๐ด Short Beneath Bounce: 29426
Trade Ideas for TradingView: Click Copy Formatted Levels below, then open the Trading Levels PTZ v2 indicator on TradingView โ Settings โ paste into the levels field. Long entries appear in aqua, short entries in orange.
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