{"id":191228,"date":"2023-09-30T07:00:00","date_gmt":"2023-09-30T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=191228"},"modified":"2023-09-30T03:48:16","modified_gmt":"2023-09-30T10:48:16","slug":"ftse-100-bom-high-2","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-bom-high-2\/","title":{"rendered":"FTSE 100 BOM High in Trading Range, High 2"},"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 higher on the monthly chart with BOM and a High 2 setup. We have been going sideways for many months at the top of the prior trading range. The moving averages are pointed up, so it is a tight channel that is starting to flatten out. The bulls want to trap the bears here. The bears want to break below the channel line and go sideways to down.<\/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>Monthly<\/em> FTSE chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2.jpg\" alt=\"FTSE 100 BOM High in Trading Range, High 2\" class=\"wp-image-191355\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 BOM High in Trading Range, High 2<\/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\" rel=\"noopener\">FTSE 100 futures<\/a> was a bull doji just above the MA &#8211; its Breakout Mode (BOM.)<\/li>\n\n\n\n<li>The bulls see a possible High 2 setup if we trade above this month. A High 2 at the MA is a high-probability trade.<\/li>\n\n\n\n<li>The bears see a possible head and shoulders top &#8211;  a LH DT now and want to trade below the neckline for a possible MM down.<\/li>\n\n\n\n<li>We have been going sideways for two years, but only one bar is below the MA. That means we are in a bull channel, and trading below the MA is usually a buy zone.<\/li>\n\n\n\n<li>It was a bull microchannel up to February 2023, and traders have been buying below bars since then. But it was also disappointing the sell-off in March.<\/li>\n\n\n\n<li>The bears are yet to get to a good sell signal, and yet to get two consecutive bars.<\/li>\n\n\n\n<li>The monthly range is small, so we might trade above and below it next month.<\/li>\n\n\n\n<li>The bulls want the High 2 buy to work and get a FT bar up to the range&#8217;s high.<\/li>\n\n\n\n<li>The bears want it to fail and create a possible Failed High 2. But a failed High 2 sets up a High 3, which is an even higher probability trade &#8211; hence the lack of sellers here at the MA.<\/li>\n\n\n\n<li>The bears must trigger another sell signal below a bear bar to get strong selling. Otherwise, bears will wait until the highs of the range again.<\/li>\n\n\n\n<li>Bulls were a bit disappointed the bear bar was so big &#8211; some traders might have gotten out back at their entry two months ago at breakeven &#8211; some bought more at the MA and made money.<\/li>\n\n\n\n<li>Expect sideways to up next month.<\/li>\n<\/ul>\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\/09\/FTSE-100-Broad-Bull-Channel-Close-Above-the-MA.jpg\" alt=\"FTSE 100 Broad Bull Channel, Close Above the MA\" class=\"wp-image-191359\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-Broad-Bull-Channel-Close-Above-the-MA.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-Broad-Bull-Channel-Close-Above-the-MA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-Broad-Bull-Channel-Close-Above-the-MA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-Broad-Bull-Channel-Close-Above-the-MA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-Broad-Bull-Channel-Close-Above-the-MA-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><figcaption class=\"wp-element-caption\">FTSE 100 Broad Bull Channel, Close Above the MA<\/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\" rel=\"noopener\">FTSE 100 futures<\/a> was a bear bar closing above its midpoint and a big tail below but closing above the MA.<\/li>\n\n\n\n<li>Its a pullback and a pause bar after the strong bull climax bar two weeks ago. We said there would be buyers at the midpoint.<\/li>\n\n\n\n<li>It is BOM on a higher time frame, so the moves have less than three legs.<\/li>\n\n\n\n<li>The bulls see a DB at a HTF trendline and a bull microchannel. Every low above the low of the prior bar. There will be buyers under the big bull bar.<\/li>\n\n\n\n<li>Traders expect a second leg after such a strong push, so this reversal is more likely to be minor and bulls to get one more bar up.<\/li>\n\n\n\n<li>Bears see the last strong leg as bearish &#8211; the parabolic wedge and expected two legs sideways to up to correct it. The bears want to resume now. They got their bear close below a bear bar.<\/li>\n\n\n\n<li>But the bulls got strong closes above the MA, which is likely a trading range.<\/li>\n\n\n\n<li>It is a bear doji with a big tail below, so a weak sell. But it is also not a great buy yet. <\/li>\n\n\n\n<li>Bulls want to get above it and run the stops on the bears here. Then they can try to get a measured move of that bar up to the April highs.<\/li>\n\n\n\n<li>Trading ranges are full of disappointment, so expect sellers above and buyers below.<\/li>\n\n\n\n<li>There is still a gap open below &#8211; the bears will want to move lower to keep it closed.<\/li>\n\n\n\n<li>The move started from a bear bar as the low pivot, making it less likely to go straight up from here.<\/li>\n\n\n\n<li>Four bull bars in a row, so we expected to test the high of the third bar &#8211; bears were fading there and got stuck. Now it has been tested so that it can go higher.<\/li>\n\n\n\n<li>Expect sideways to up next week.<\/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 higher on the monthly chart with BOM and a High 2 setup. We have been going sideways for many months at the top of the prior trading range. The moving averages are pointed up, so it is a tight channel that is starting to flatten out. [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":191355,"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-191228","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ftse-100","8":"category-analysis","9":"tag-ftse-100","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/09\/FTSE-100-BOM-High-in-Trading-Range-High-2.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\/191228","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=191228"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/191228\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/191355"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=191228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=191228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=191228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}