{"id":169278,"date":"2023-01-28T07:00:00","date_gmt":"2023-01-28T15:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=169278"},"modified":"2023-01-28T01:18:21","modified_gmt":"2023-01-28T09:18:21","slug":"ftse-100-pullback","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-pullback\/","title":{"rendered":"FTSE 100 Pullback in Bull Micro Channel, Higher High"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: FTSE 100 Futures<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The&nbsp;<strong>FTSE futures <\/strong>market dipped below the low of a prior bar last week, a FTSE 100 pullback in a bull Micro Channel. We said last week there would likely be buyers there. We are always in long, but after 12 months in a trading range, a strong reversal here could move back quickly as the breakout fails. Bulls want a bull flag and another leg up. Bears want a good sell signal and follow through.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">FTSE 100 Futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> FTSE chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High-680x383.jpg\" alt=\"FTSE 100 Pullback in Bull Micro Channel, Higher High\" class=\"wp-image-169343\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Pullback in a Bull Micro Channel, Higher High<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.ig.com\/en\/indices\/markets-indices\/ftse-100\" target=\"_blank\" rel=\"noreferrer noopener\">FTSE 100 futures<\/a> was a small bear doji last week.<\/li>\n\n\n\n<li>It is the second consecutive sideways bar after a bull micro channel, so we are likely always in long.<\/li>\n\n\n\n<li>The bulls see a breakout and a pullback in a bull micro channel &#8211; a higher high.<\/li>\n\n\n\n<li>The bears see a higher high in a trading range.<\/li>\n\n\n\n<li>Both traders expect to test back to the breakout point of the Feb 7<sup>th<\/sup> high to decide whether there is a continuation.<\/li>\n\n\n\n<li>The bulls want a successful breakout test and continuation follow-through. Then the gap becomes a measuring gap for a measured move up.<\/li>\n\n\n\n<li>The bears want a reversal and follow-through to create an exhaustion gap and measured move back down.<\/li>\n\n\n\n<li>The bulls see this strong move up as a second leg and pullback and expect a third leg because of the consecutive bull bars.<\/li>\n\n\n\n<li>But 80% of breakouts fail, so the bears are selling above the highs and higher, betting we will at least get back to their original entry. This is a reasonable strategy.<\/li>\n\n\n\n<li>If the bulls can get good follow-through and break above this pullback, it becomes a bull flag, and they expect a move up. Bears will close their positions, and we will race higher.<\/li>\n\n\n\n<li>The bears need to return to the November 28<sup>th<\/sup> high to keep the chances of a reversal likely.<\/li>\n\n\n\n<li>Most bulls will scale in below, betting that the breakout test will hold. <\/li>\n\n\n\n<li>Because we are always in long, most traders should be trading on stop entries and buy above big bull bars with wide stops and scale-in.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/em> FTSE chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Bull-Flag-at-Measured-Move-Target-Below-ATH-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Bull-Flag-at-Measured-Move-Target-Below-ATH-1-680x383.jpg\" alt=\"FTSE 100 Bull Flag, at Measured Move Target, Below ATH\" class=\"wp-image-169347\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Bull-Flag-at-Measured-Move-Target-Below-ATH-1-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Bull-Flag-at-Measured-Move-Target-Below-ATH-1-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Bull-Flag-at-Measured-Move-Target-Below-ATH-1-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Bull-Flag-at-Measured-Move-Target-Below-ATH-1-1536x864.jpg 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Bull-Flag-at-Measured-Move-Target-Below-ATH-1.jpg 1920w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Bull Flag, at Measured Move Target, Below ATH<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.ig.com\/en\/indices\/markets-indices\/ftse-100\" target=\"_blank\" rel=\"noreferrer noopener\">FTSE 100 futures<\/a> was a small bull doji with tails above and below.<\/li>\n\n\n\n<li>It is a sideways bar, a pause after a strong bull leg nearly reaching the All Time High (ATH.)<\/li>\n\n\n\n<li>The bulls see a bull flag above the moving average and will look to buy a High 3 near the moving average.<\/li>\n\n\n\n<li>There was a High 2 on Thursday, but the big tail means it might fail. We are still at the entry point.<\/li>\n\n\n\n<li>The bears might see the failed High 2 as a sign of weakness and look to get short.<\/li>\n\n\n\n<li>It&#8217;s been more than 20 bars above the moving average, so there is a 20-bar gap buy setup. Bulls will use a wide stop and scale in betting we get a trading range rather than a bear reversal.<\/li>\n\n\n\n<li>The bears see a failed measured move just below the ATH. They see the bears had a successful swing short last week and expect to return to the moving average.<\/li>\n\n\n\n<li>Both traders might be right, so we are probably in a trading range.<\/li>\n\n\n\n<li>Most always in traders exited after the consecutive bear bars on Jan 17<sup>th<\/sup>. That&#8217;s what created the bear surprise bar the day after. The bears then took profit.<\/li>\n\n\n\n<li>Some bulls might want a wedge bottom, three pushes down and look to scale in around the bear bar on Jan 8<sup>th<\/sup>. Some bears might be trapped there.<\/li>\n\n\n\n<li>The highest probability long trade here would be a bull bar closing above the bear trend line and getting follow-through for a move up &#8211; taking part off at 50%.<\/li>\n\n\n\n<li>Selling here is a scalp only as likely buyers at the moving average.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: FTSE 100 Futures The&nbsp;FTSE futures market dipped below the low of a prior bar last week, a FTSE 100 pullback in a bull Micro Channel. We said last week there would likely be buyers there. We are always in long, but after 12 months in a trading range, a strong reversal here could [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":169343,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[1697,136],"tags":[1699,1349,1347],"class_list":["post-169278","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ftse-100","category-analysis","tag-ftse-100","tag-higher-high","tag-pullback","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/01\/FTSE-100-Pullback-in-a-Bull-Micro-Channel-Higher-High.jpg","author_info":{"display_name":"Timothy","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/timfairweathercagmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/169278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/10339"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=169278"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/169278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/169343"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=169278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=169278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=169278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}