{"id":198692,"date":"2024-01-20T07:00:00","date_gmt":"2024-01-20T15:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=198692"},"modified":"2024-01-20T04:00:12","modified_gmt":"2024-01-20T12:00:12","slug":"ftse-100-triangle-bull-bo","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-triangle-bull-bo\/","title":{"rendered":"FTSE 100 Triangle, Bull Breakout Test of 100-Week MA"},"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 lower last week back top test the apex of the triangle and the 100-week moving average (MA.) Deep pullbacks, disappointment and strong near the extremes. Trading range price action. That could lead to buyers here, as buying this MA has been a good trade historically.<\/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\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-MA.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-MA.jpg\" alt=\"FTSE 100 Triangle, Bull Breakout Test of 100-Week MA\" class=\"wp-image-198758\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-MA.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-MA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-MA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-MA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-MA-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Triangle, Bull Breakout Test of 100-Week MA<\/figcaption><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.ice.com\/products\/38716764\/FTSE-100-Index-Future\" rel=\"noopener\">FTSE 100 futures<\/a> fell back last week to test the apex of a triangle.<\/li>\n\n\n\n<li>It was a big bear bar closing near its low and below the 20-week MA. <\/li>\n\n\n\n<li>It is the 3rd consecutive bear bar, which is a surprise, and traders might expect a second leg. The second leg might only be one bar. <\/li>\n\n\n\n<li>It was also a large bar. That could lead to profit-taking by the bears and more sideways.<\/li>\n\n\n\n<li>It follows a tight bull channel. The tight bull channel should have got a second leg up and might still do.<\/li>\n\n\n\n<li>That makes it a deep pullback and trading range price action.<\/li>\n\n\n\n<li>The bulls see a broad bull channel and a break above a double top. They are looking for a measured move-up.<\/li>\n\n\n\n<li>The bears see a failed break above a double top, a test and are looking to return to the range lows.<\/li>\n\n\n\n<li>Both traders can be right because we are in a trading range and a triangle. That means it is BOM, and traders are deciding.<\/li>\n\n\n\n<li>If you sell here, you believe we will break strongly below the long-term MA, which has been a low-probability trade. That means we probably won&#8217;t go much further down yet.<\/li>\n\n\n\n<li>Buying 3 bear bars is also low-probability unless you scale in lower. So we might go sideways next week.<\/li>\n\n\n\n<li>Most traders should wait for a strong stop order signal.<\/li>\n\n\n\n<li>Are we always in short? No. Too many bull bars above the MA, so unless we go below the low of that bull spike, we are still always in long.<\/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\/2024\/01\/FTSE-100-Failed-High-2-Bear-Surprise-Bad-FT.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Failed-High-2-Bear-Surprise-Bad-FT.jpg\" alt=\"FTSE 100 Failed High 2, Bear Surprise, Bad FT\" class=\"wp-image-198763\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Failed-High-2-Bear-Surprise-Bad-FT.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Failed-High-2-Bear-Surprise-Bad-FT-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Failed-High-2-Bear-Surprise-Bad-FT-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Failed-High-2-Bear-Surprise-Bad-FT-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/01\/FTSE-100-Failed-High-2-Bear-Surprise-Bad-FT-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Failed High 2, Bear Surprise, Bad FT<\/figcaption><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.ice.com\/products\/38716764\/FTSE-100-Index-Future\" rel=\"noopener\">FTSE 100 futures<\/a> moved higher on Friday but sold off into the close. <\/li>\n\n\n\n<li>It was a reasonable buy signal as a test of a triangle. <\/li>\n\n\n\n<li>It mimics the weekly chart as well. It was a good area to buy after the bulls gave up earlier.<\/li>\n\n\n\n<li>Some bulls will wait for a second entry buy signal a little lower. Or at least wait for the bears to fail below.<\/li>\n\n\n\n<li>The bulls see a trading range and a failed High 2 buy high in the range. They will be looking for a High 4 &#8211; or the second attempt at a High 2.<\/li>\n\n\n\n<li>The buy had good context because of the HTF chart &#8211; the 200-weekly MA.<\/li>\n\n\n\n<li>The bears see a trading range from December, bear breakout and hit their 2:1 swing target on Wednesday.<\/li>\n\n\n\n<li>The bears sold back in November, and in a trading range, it was reasonable to expect to get out. We hit their breakeven point on Wednesday.<\/li>\n\n\n\n<li>Judging by the strong pullback, that might be it for the bears.<\/li>\n\n\n\n<li>The bears would like to go and let the remaining bears out next week from October and November. But after such a strong move against them, I think they will be disappointed. <\/li>\n\n\n\n<li>They want that to be the bottom of the trading range, lower high and then break below. But the HTF is against them.<\/li>\n\n\n\n<li>The bulls want to trap them here, a sell climax and small pullback trend back up.<\/li>\n\n\n\n<li>Always in short, so better to be short or flat.<\/li>\n\n\n\n<li>Expect swing bulls to start scaling in around here.<\/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 lower last week back top test the apex of the triangle and the 100-week moving average (MA.) Deep pullbacks, disappointment and strong near the extremes. Trading range price action. That could lead to buyers here, as buying this MA has been a good trade historically. FTSE [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":198758,"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-198692","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\/2024\/01\/FTSE-100-Triangle-Bull-Breakout-Test-of-100-Week-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\/198692","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=198692"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/198692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/198758"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=198692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=198692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=198692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}