{"id":194340,"date":"2023-11-18T07:00:00","date_gmt":"2023-11-18T15:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=194340"},"modified":"2023-11-17T19:14:27","modified_gmt":"2023-11-18T03:14:27","slug":"ftse-100-high-2-bull-breakout","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-high-2-bull-breakout\/","title":{"rendered":"FTSE 100 High 2, Bull Breakout of Inside Bar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: FTSE 100 Futures<\/h2>\n\n\n\n<p><strong>FTSE 100 futures<\/strong> moved higher last week with a bull breakout of an inside bar, a High 2. It is still BOM on the weekly chart, but the daily bulls are getting buy signals. After getting another always-in-short signal, the bears want the price to fail at the MA and see this as a pullback. The bulls need followthrough.<\/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\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Bull-Breakout-of-Inside-Bar.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Bull-Breakout-of-Inside-Bar.jpg\" alt=\"FTSE 100 High 2, Bull Breakout of Inside Bar\" class=\"wp-image-194371\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Bull-Breakout-of-Inside-Bar.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Bull-Breakout-of-Inside-Bar-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Bull-Breakout-of-Inside-Bar-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Bull-Breakout-of-Inside-Bar-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-2-Bull-Breakout-of-Inside-Bar-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 High 2, Bull Breakout of Inside Bar<\/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 bar with no tail closing near its high last week, a trend bar.<\/li>\n\n\n\n<li>The bar had no lower tail, just like the bull bar before it, which shows the urgency of the bulls.<\/li>\n\n\n\n<li>It is a High 2 buy setup around the longer-term MA and closed right at the MA, which is not as bullish as possible.<\/li>\n\n\n\n<li>It is the 5th reversal in a trading range, a triangle and a BOM pattern. So traders should stop trading after this and wait for more information.<\/li>\n\n\n\n<li>Traders able to trade small, scale in, and BLSHS, would look for a High 2 in the low of a range or to fade a Low 2. This is what is happening.<\/li>\n\n\n\n<li>The Low 2 did not trigger on this time frame, so it is implied &#8211; meaning it happened one timeframe lower.<\/li>\n\n\n\n<li>The bulls got a strong microchannel and expected a second leg up. But they should not have let the pullback be so deep. That is disappointing.<\/li>\n\n\n\n<li>The bulls want a strong follow-through bar like last week and closing far above the MA. The more it closes on its high, the higher above the MA it closes, the more traders will buy.<\/li>\n\n\n\n<li>The bears see consecutive bear bars closing below the MA and closing on their lows. That is technically always in short. They expect a pullback and then another leg down.<\/li>\n\n\n\n<li>That last bear bar might have been the non-symmetrical second leg.<\/li>\n\n\n\n<li>Breakouts of inside bars fail at a higher rate. Inside bars are triangles on lower timeframes, and because they are small bars, the market often tests both sides of them.<\/li>\n\n\n\n<li>Most traders should wait until we are clearly out of breakout mode (BOM.) That might mean waiting for 2 or 3 consecutive bull bars and looking to trade a second leg up.<\/li>\n\n\n\n<li>Expect sideways to up 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\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-3-Failed-Bull-Channel-or-Wedge-Bear-Flag.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-3-Failed-Bull-Channel-or-Wedge-Bear-Flag.jpg\" alt=\"FTSE 100 High 3 Failed, Bull Channel or Wedge Bear Flag\" class=\"wp-image-194377\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-3-Failed-Bull-Channel-or-Wedge-Bear-Flag.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-3-Failed-Bull-Channel-or-Wedge-Bear-Flag-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-3-Failed-Bull-Channel-or-Wedge-Bear-Flag-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-3-Failed-Bull-Channel-or-Wedge-Bear-Flag-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/FTSE-100-High-3-Failed-Bull-Channel-or-Wedge-Bear-Flag-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 High 3 Failed, Bull Channel or Wedge Bear Flag<\/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> market was a big bull trend bar with no lower tail and closing near its high, so we might gap up on Monday.<\/li>\n\n\n\n<li>We said last week there was a credible buy setup low in a trading range, and it turned out to be a great trade!<\/li>\n\n\n\n<li>We are in the lower third of a trading range, and a late leg usually means profit-taking by the bears. The bulls wanted a weak signal and got one last Friday &#8211; the big bear bar with a tail.<\/li>\n\n\n\n<li>So, 4 out of 5 bull bars last week, but lots of overlap &#8211; tails up and tails down &#8211; so trading range price action.<\/li>\n\n\n\n<li>The bulls see a higher low, a  trendline break, and a test and are looking to break strongly above the midpoint of the range.<\/li>\n\n\n\n<li>They broke above the lower high on Oct 25<sup>th<\/sup> and got a higher-low. They see the start of a bull trend on a lower timeframe.<\/li>\n\n\n\n<li>The bears see a strong sell climax, a vacuum test of the prior breakout point on Aug 24<sup>th<\/sup>. That started a strong bull spike and closed the last open gap.<\/li>\n\n\n\n<li>The bears wanted two legs up to the MA, and a sell signal, but the bar was too big. The bears might be looking for a Low 3, a type of wedge bear flag. <\/li>\n\n\n\n<li>That was likely on Thursday. We did not trigger the sell below it and are reversing up.<\/li>\n\n\n\n<li>Traders should be looking to buy low in the channel and sell high. Or wait for a clear breakout either way.<\/li>\n\n\n\n<li>The bulls also see a break above the failed double top and are looking for a measured move. That target, along with the bull spike, takes us above 7600.<\/li>\n\n\n\n<li>The bears see a channel with a few legs and will bet against a bull breakout of a bear flag, a low-probability trade.<\/li>\n\n\n\n<li>Traders are deciding if this is a pullback from the bear move down or a new move up to close the open bul gap above.<\/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 FTSE 100 futures moved higher last week with a bull breakout of an inside bar, a High 2. It is still BOM on the weekly chart, but the daily bulls are getting buy signals. After getting another always-in-short signal, the bears want the price to fail at the MA and [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":194371,"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-194340","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-High-2-Bull-Breakout-of-Inside-Bar.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\/194340","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=194340"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/194340\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/194371"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=194340"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=194340"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=194340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}