FTSE 100 Futures<\/h2>\n\n\n\nThe Weekly<\/em> FTSE chart<\/h3>\n\n\n\n![\"FTSE](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Bear-Breakout-of-an-Inside-Bar-at-the-MA.jpg\" "\\"\\"")
<\/a>FTSE 100 Bear Breakout of an Inside Bar at the MA<\/figcaption><\/figure>\n\n\n\n\n- The FTSE 100 futures<\/a> was a bear breakout, a big bear bar closing below its midpoint with tails above and below.<\/li>\n\n\n\n
- It is the 5th<\/sup> consecutive bear bar and the second leg.<\/li>\n\n\n\n
- We broke strongly below last week’s bear bar, so we are likely always in short. Most traders should be short or flat.<\/li>\n\n\n\n
- We just closed an open bull gap from March with the tail but did not close the body gap. <\/li>\n\n\n\n
- Gaps closing are a sign of trading range price action or the end of a trend.<\/li>\n\n\n\n
- The bulls see an 18-month trading range breakout, a higher high, and a deep pullback to 50% of that leg. They see it as a lower high and this second leg having two legs.<\/li>\n\n\n\n
- The leg up from March was strong enough to expect a second leg, but it hasn’t started yet.<\/li>\n\n\n\n
- But 5 bear bars are disappointing, so we can expect sellers above at the April high and maybe even beforehand.<\/li>\n\n\n\n
- Bulls will scale in above the next bull bar and likely get out at the midpoint of the two entries or the Low 1 on April 17th<\/sup>.<\/li>\n\n\n\n
- The bears see a failed breakout above the trading range and now a lower high. It is possibly a head and shoulders top, and we just printed the right shoulder.<\/li>\n\n\n\n
- An Head & Shoulders top (HST) is also a Lower High Major Trend Reversal (LH MTR). Traders will expect two legs sideways to down if that is the case. We are likely in the second leg.<\/li>\n\n\n\n
- Most of the bar is below the moving average, so likely sellers are above.<\/li>\n\n\n\n
- Bulls want a bull bar next week to buy above, a High 2 and a reasonable long swing entry at the MA in a bull trend.<\/li>\n\n\n\n
- Because this bar is larger than the others, it is a type of climax, and some traders will expect profit-taking. Bears need follow-through, a measured move down from the lower high.<\/li>\n\n\n\n
- The prior week was a doji, so a bad sell signal. We might go up early next week to let those trapped traders out before moving down.<\/li>\n\n\n\n
- March 20th<\/sup> was a reasonable bar to sell above in a bear spike, and they got trapped, so we expected buying at that high.<\/li>\n\n\n\n
- Also, remember the prior week was an inside bar, so breakouts of inside bars have a high failure rate. Likely, we pull back to the low.<\/li>\n\n\n\n
- It was reasonable for bulls to buy at the MA, so we should get back there to let them out.<\/li>\n\n\n\n
- Expect sideways to down next week, with a pullback of the bear breakout<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> FTSE chart<\/h3>\n\n\n\n![\"FTSE](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Bull-Outside-Bar-Open-Bear-Gaps-Above.jpg\" "\\"\\"")
FTSE 100 Bull Outside Bar, Open Bear Gaps Above<\/figcaption><\/figure>\n\n\n\n
<\/a>- \n
- The FTSE 100 futures<\/a> was a bear breakout, a big bear bar closing below its midpoint with tails above and below.<\/li>\n\n\n\n
- It is the 5th<\/sup> consecutive bear bar and the second leg.<\/li>\n\n\n\n
- We broke strongly below last week’s bear bar, so we are likely always in short. Most traders should be short or flat.<\/li>\n\n\n\n
- We just closed an open bull gap from March with the tail but did not close the body gap. <\/li>\n\n\n\n
- Gaps closing are a sign of trading range price action or the end of a trend.<\/li>\n\n\n\n
- The bulls see an 18-month trading range breakout, a higher high, and a deep pullback to 50% of that leg. They see it as a lower high and this second leg having two legs.<\/li>\n\n\n\n
- The leg up from March was strong enough to expect a second leg, but it hasn’t started yet.<\/li>\n\n\n\n
- But 5 bear bars are disappointing, so we can expect sellers above at the April high and maybe even beforehand.<\/li>\n\n\n\n
- Bulls will scale in above the next bull bar and likely get out at the midpoint of the two entries or the Low 1 on April 17th<\/sup>.<\/li>\n\n\n\n
- The bears see a failed breakout above the trading range and now a lower high. It is possibly a head and shoulders top, and we just printed the right shoulder.<\/li>\n\n\n\n
- An Head & Shoulders top (HST) is also a Lower High Major Trend Reversal (LH MTR). Traders will expect two legs sideways to down if that is the case. We are likely in the second leg.<\/li>\n\n\n\n
- Most of the bar is below the moving average, so likely sellers are above.<\/li>\n\n\n\n
- Bulls want a bull bar next week to buy above, a High 2 and a reasonable long swing entry at the MA in a bull trend.<\/li>\n\n\n\n
- Because this bar is larger than the others, it is a type of climax, and some traders will expect profit-taking. Bears need follow-through, a measured move down from the lower high.<\/li>\n\n\n\n
- The prior week was a doji, so a bad sell signal. We might go up early next week to let those trapped traders out before moving down.<\/li>\n\n\n\n
- March 20th<\/sup> was a reasonable bar to sell above in a bear spike, and they got trapped, so we expected buying at that high.<\/li>\n\n\n\n
- Also, remember the prior week was an inside bar, so breakouts of inside bars have a high failure rate. Likely, we pull back to the low.<\/li>\n\n\n\n
- It was reasonable for bulls to buy at the MA, so we should get back there to let them out.<\/li>\n\n\n\n
- Expect sideways to down next week, with a pullback of the bear breakout<\/li>\n<\/ul>\n\n\n\n
The Daily<\/em> FTSE chart<\/h3>\n\n\n\n
FTSE 100 Bull Outside Bar, Open Bear Gaps Above<\/figcaption><\/figure>\n\n\n\n - It is the 5th<\/sup> consecutive bear bar and the second leg.<\/li>\n\n\n\n