{"id":182837,"date":"2023-07-08T07:00:00","date_gmt":"2023-07-08T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=182837"},"modified":"2023-07-08T01:12:14","modified_gmt":"2023-07-08T08:12:14","slug":"ftse-100-surprise-bear-bo","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-surprise-bear-bo\/","title":{"rendered":"FTSE 100 Surprise Bear BO Below a Wedge, Bull Channel"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: FTSE 100 Futures<\/h2>\n\n\n\n<p>The\u00a0<strong>FTSE futures <\/strong>market moved lower strongly last week with a surprise bear BO below a wedge. Traders may expect 2 legs sideways to down. The bulls see a climax bar and will look to reverse it near the 200-week MA. Bears need a follow-through bar next week to try to hit the measured move targets below. Bulls have been buying strongly here for the past 2 years so are likely to continue to do so.<\/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-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Surprise-Bear-BO-Below-a-Wedge-Bull-Channel.jpg\" alt=\"FTSE 100 Surprise Bear BO Below a Wedge, Bull Channel\" class=\"wp-image-182892\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Surprise-Bear-BO-Below-a-Wedge-Bull-Channel.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Surprise-Bear-BO-Below-a-Wedge-Bull-Channel-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Surprise-Bear-BO-Below-a-Wedge-Bull-Channel-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Surprise-Bear-BO-Below-a-Wedge-Bull-Channel-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Surprise-Bear-BO-Below-a-Wedge-Bull-Channel-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><figcaption class=\"wp-element-caption\">FTSE 100 Surprise Bear BO Below a Wedge, Bull Channel<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.investing.com\/indices\/uk-100-futures\" target=\"_blank\" rel=\"noreferrer noopener\">FTSE 100 futures<\/a> was a big surprise bear BO bar breaking out below a wedge.<\/li>\n\n\n\n<li>It is a large bear bar closing on its low so we might gap down on Monday.<\/li>\n\n\n\n<li>The bulls see a High 2 that failed. But it was a reasonable stop-entry trade, so we will likely test back to their entry.<\/li>\n\n\n\n<li>The bulls see a bear channel, perhaps broad, perhaps a trading range &#8211; but higher highs and higher lows, so ok to buy and buy more lower.<\/li>\n\n\n\n<li>The bears see a HH DT,  a lower-high &#8211; so a variation of a MTR. But did it really break a trendline?<\/li>\n\n\n\n<li>Bears could argue that Oct &#8211; Jan 2023 was a collapsed spike &#8211; a failed BO above a trading range. If so, the maths is bad for selling so low now.<\/li>\n\n\n\n<li>The bears want a follow-through next week, so a second leg sideways to down. But at the 200-week MA, it might be difficult to swing.<\/li>\n\n\n\n<li>The bulls will scale in 2x the bar size expecting to get out at least breakeven. That happens to be the trendline as well, so double support.<\/li>\n\n\n\n<li>The bulls were disappointed by the collapse at the new ATH, so will look to buy in the lower third\u2014the prior BO point, 7000, trendline &#8211; all reasonable mathematical areas.<\/li>\n\n\n\n<li>Around here, the probability and risk are low without a sell signal, but the reward is high.<\/li>\n\n\n\n<li>The bears want a measured move from the lower high. They will need next week to show follow-through with a decent body and not a large tail.<\/li>\n\n\n\n<li>Big bars in trading ranges are often profit-taking bars, so traders will be watching to see if bulls buy strongly here as bears exit.<\/li>\n\n\n\n<li>Expect sideways to down next week.<\/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-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Broad-Bear-Channel-Low-in-Trading-Range.jpg\" alt=\"FTSE 100 Broad Bear Channel, Low in Trading Range\" class=\"wp-image-182887\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Broad-Bear-Channel-Low-in-Trading-Range.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Broad-Bear-Channel-Low-in-Trading-Range-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Broad-Bear-Channel-Low-in-Trading-Range-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Broad-Bear-Channel-Low-in-Trading-Range-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/07\/FTSE-100-Broad-Bear-Channel-Low-in-Trading-Range-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><figcaption class=\"wp-element-caption\">FTSE 100 Broad Bear Channel, Low in Trading Range<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.investing.com\/indices\/uk-100-futures\" target=\"_blank\" rel=\"noreferrer noopener\">FTSE 100 futures<\/a> on Friday was a small bear bar with a tail below it.<\/li>\n\n\n\n<li>It was a surprise bear BO with follow-through and should get a small second leg sideways to down.<\/li>\n\n\n\n<li>It is still always in short, so traders should be short or flat.<\/li>\n\n\n\n<li>It is the fifth consecutive bear bar, so a 5-bar bear microchannel and bears will likely sell above the high of the 1<sup>st<\/sup> and 2<sup>nd<\/sup> bars if they are strong bars.<\/li>\n\n\n\n<li>There is a strong open gap between those bear bars &#8211; a breakout on an HTF. <\/li>\n\n\n\n<li>There is also an open breakout gap below the breakout point. The market should test that breakout point &#8211; when the test can fail or succeed.<\/li>\n\n\n\n<li>We are far from the moving average, so some bears might wait to sell a pullback, two attempts from the bulls first.<\/li>\n\n\n\n<li>We are at a measured move target for the bears, and their swing target is near the 7000 Big Round Number.<\/li>\n\n\n\n<li>It is a bear bar, so a sell signal, but low in a developing trading range is a high-probability scalp but can move sharply back up as the math changes.<\/li>\n\n\n\n<li>The bulls need a buy signal, so until then, we might test the March low or open BO gaps below 7000.<\/li>\n\n\n\n<li>Gaps close in trading ranges, so they become magnets and targets.<\/li>\n\n\n\n<li>The bears see a small pullback bull trend, 2 open gaps and a lack of bullish follow-through. They can keep selling as long as no trend line is broken.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>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\u00a0FTSE futures market moved lower strongly last week with a surprise bear BO below a wedge. Traders may expect 2 legs sideways to down. The bulls see a climax bar and will look to reverse it near the 200-week MA. Bears need a follow-through bar next week to try to [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":0,"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],"class_list":{"0":"post-182837","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-ftse-100","7":"category-analysis","8":"tag-ftse-100","9":"entry","10":"has-post-thumbnail","11":"override","12":"shadow"},"featured_image_src":null,"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\/182837","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=182837"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/182837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=182837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=182837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=182837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}