{"id":193520,"date":"2023-11-04T07:00:00","date_gmt":"2023-11-04T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=193520"},"modified":"2023-11-04T05:10:57","modified_gmt":"2023-11-04T12:10:57","slug":"ftse-100-broad-bull-bom-wedge","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-broad-bull-bom-wedge\/","title":{"rendered":"FTSE 100 Broad Bull Channel, Wedge, BOM at MA"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: FTSE 100 Futures<\/h2>\n\n\n\n<p>The&nbsp;<strong>FTSE futures <\/strong>market pulled back to below the MA in a broad bull channel. Its breakout mode, and maybe 3 pushes down after a bull spike. Traders bought the High 2 buy setup at the 100-month MA, selling above the high of the COVID crash. Longer-term buyers are probably waiting between the MA and that buy signal entry price. Bears see a failed BO and want to run the bull stops below the low of that last swing point.<\/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\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA.jpg\" alt=\"FTSE 100 Broad Bull Channel, Wedge, BOM at MA\" class=\"wp-image-193578\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Broad Bull Channel, Wedge, BOM at MA<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/liveindex.org\/ftse-futures\/\" rel=\"noopener\">FTSE 100 futures<\/a> market last month was a bear bar, closing on its low in a broad bull channel.<\/li>\n\n\n\n<li>When I look at the chart, the first thing I notice is in the past 2 years, the bears only one got two consecutive bear months. So, it makes me believe next month will be bullish.<\/li>\n\n\n\n<li>It&#8217;s a broad bull channel, and we&#8217;ve been going sideways all year.<\/li>\n\n\n\n<li>Last month was the first time the bears got a close below the MA &#8211; bulls will buy it.<\/li>\n\n\n\n<li>It is the first close on that major trendline since COVID, and bulls will buy it.<\/li>\n\n\n\n<li>The bulls didn&#8217;t get a good High 1, with an almost inside and then outside bar closing on its high. There will be buyers below that bar and scaling in lower.<\/li>\n\n\n\n<li>We are right in the middle of the trading range, and it&#8217;s a triangle &#8211; so bulls can be long and bears can be short, and no one has had their stop hit.<\/li>\n\n\n\n<li>Some bulls see a wedge bull flag, three pushes down and want a buy signal but not too big for a couple of legs sideways to up.<\/li>\n\n\n\n<li>Bears have not been able to trigger a bear signal. So it makes me believe the sellers will be above this bar not below it.<\/li>\n\n\n\n<li>March was a bear surprise, and bulls scaled in and got out breakeven or with a profit before giving up. We expected them to buy lower.<\/li>\n\n\n\n<li>Some traders might see last October as the bottom of the trading range and will wait down there to enter.<\/li>\n\n\n\n<li>Most of the bar is above the MA, so some traders will buy the close and buy below, betting it is a bad stop order sell below.<\/li>\n\n\n\n<li>It&#8217;s breakout mode (BOM) &#8211; but the bears didn&#8217;t get a good sell signal. The bulls got the High 2 in October; likely more buyers there if we reach it.<\/li>\n\n\n\n<li>Expect sideways to up at the MA 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\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Buy-Major-TL-Bottom-of-Bull-Spike.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Buy-Major-TL-Bottom-of-Bull-Spike.jpg\" alt=\"FTSE 100 High 2 Buy, Major TL, Bottom of Bull Spike\" class=\"wp-image-193584\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Buy-Major-TL-Bottom-of-Bull-Spike.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Buy-Major-TL-Bottom-of-Bull-Spike-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Buy-Major-TL-Bottom-of-Bull-Spike-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Buy-Major-TL-Bottom-of-Bull-Spike-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Buy-Major-TL-Bottom-of-Bull-Spike-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 High 2 Buy, Major TL, Bottom of Bull Spike<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/liveindex.org\/ftse-futures\/\" rel=\"noopener\">FTSE 100 futures<\/a> market last week was a bull bar closing near its high with a small tail above.<\/li>\n\n\n\n<li>It is a High 2 buy setup low in a trading range, which is a high probability buy for a swing. However, most traders will scalp out in the tight trading range.<\/li>\n\n\n\n<li>Look at every bear bar below the 100-week MA &#8211; it got bought. We said last week that more longer-term buyers would be here, and they were.<\/li>\n\n\n\n<li>The bulls got a bull microchannel, 4 bars up with consecutive higher lows. This could be two legs sideways to down in a pullback.<\/li>\n\n\n\n<li>The bulls need to break the trendline and go sideways and then up.<\/li>\n\n\n\n<li>The bears see the bear breakout and follow through below the MA and want it to be always in short. <\/li>\n\n\n\n<li>This would be the pullback so they can get another leg down.<\/li>\n\n\n\n<li>But they were unable to close below August. That&#8217;s not as bearish as it could be.<\/li>\n\n\n\n<li>The bulls should have had a strong close above the bear bar, but that tail means limit order trading, and perhaps some bulls are waiting to buy lower in the bottom part of that bull bar.<\/li>\n\n\n\n<li>It&#8217;s BOM, so most traders should be flat. <\/li>\n\n\n\n<li>Ok to buy above the week for a swing &#8211; some bulls will wait for a FT bar before buying. It is not a great place to sell. If the sell works, then that surprise should have FT as well.<\/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&nbsp;FTSE futures market pulled back to below the MA in a broad bull channel. Its breakout mode, and maybe 3 pushes down after a bull spike. Traders bought the High 2 buy setup at the 100-month MA, selling above the high of the COVID crash. Longer-term buyers are probably waiting [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":193578,"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-193520","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\/11\/FTSE-100-Broad-Bull-Channel-Wedge-BOM-at-MA.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\/193520","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=193520"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/193520\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/193578"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=193520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=193520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=193520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}