{"id":212143,"date":"2024-07-06T07:00:00","date_gmt":"2024-07-06T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=212143"},"modified":"2024-07-06T05:56:58","modified_gmt":"2024-07-06T12:56:58","slug":"ftse-100-tight-trading","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-tight-trading\/","title":{"rendered":"FTSE 100 Tight Trading Range, Above Support"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: FTSE 100 Futures<\/h2>\n\n\n\n<p><strong>FTSE 100 futures<\/strong> went sideways last week again, with a tight trading range in BO mode. The bears had a chance to pull back the market, but the buying has been relentless. You don&#8217;t want to trading countertrend with open breakout gaps below, the probability isn&#8217;t worth it. But the bulls need to do more next week to bring the team back again long. I expect the next volatility expansion to be up, but TTR are 50\/50.<\/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\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1.jpg\" alt=\"FTSE 100 Tight Trading Range, Above Support\" class=\"wp-image-212273\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Tight Trading Range, Above Support<\/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> went sideways in a tight trading range above support.<\/li>\n\n\n\n<li>It was a bull doji bar following a bear sell signal, a Low 2 or Low 3, depending on how you count it.<\/li>\n\n\n\n<li>For the bulls, it is two or three legs down after a strong bull spike, and they expect a second leg sideways to up. That is highly probable.<\/li>\n\n\n\n<li>The bears saw 5 bear bars in a row and wanted their second leg down. They might have just had it.<\/li>\n\n\n\n<li><strong>So, what do you do in a tight trading range? <\/strong>As a stop-entry trader, you wait.<\/li>\n\n\n\n<li>If a bear sold below last week, how are they feeling with their entry bar? Disappointed. If it goes above this week, they will sell more to exit breakeven if they haven&#8217;t already.<\/li>\n\n\n\n<li>We said last week that bulls were more likely to take over around the MA after such a strong spike.<\/li>\n\n\n\n<li>We could still test the breakout point and breakout gap below.<\/li>\n\n\n\n<li>But as the best sell signal in this pullback has not got 2:1, not the stop entry 1:1, the best choice is to wait for bears to finish\/exit what they are doing and look to buy.<\/li>\n\n\n\n<li>The bears never took out a swing point, so it&#8217;s always in long for me. The pullback is about 50% of the leg up, so it&#8217;s reasonable to buy with a limit order.<\/li>\n\n\n\n<li>Buying below the bull bar was okay, but most traders should wait for a good stop entry before buying above it.<\/li>\n\n\n\n<li>Buying below the low of the second-last bull bar in a microchannel was also a cracking buy last week.<\/li>\n\n\n\n<li>Expect sideways to up next week as the bulls take over.<\/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\/07\/FTSE-100-Wedge-Bottom-Strong-Buy-Signal-Bear-Channel.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Wedge-Bottom-Strong-Buy-Signal-Bear-Channel.jpg\" alt=\"FTSE 100 Wedge Bottom, Strong Buy Signal, Bear Channel\" class=\"wp-image-212278\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Wedge-Bottom-Strong-Buy-Signal-Bear-Channel.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Wedge-Bottom-Strong-Buy-Signal-Bear-Channel-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Wedge-Bottom-Strong-Buy-Signal-Bear-Channel-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Wedge-Bottom-Strong-Buy-Signal-Bear-Channel-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/07\/FTSE-100-Wedge-Bottom-Strong-Buy-Signal-Bear-Channel-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Wedge Bottom, Strong Buy Signal, Bear Channel<\/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> triggered a wedge bottom and a buy signal with good follow-through last week.<\/li>\n\n\n\n<li>Bears see a spike and channel down from the all-time high. They are two or three legs down, so they are probably due for a BOM or a correction.<\/li>\n\n\n\n<li>Bears failed a few times to break the strong bull spike and you can see the urgency in the buy signals last week.<\/li>\n\n\n\n<li>Bulls see that the bears couldn&#8217;t trigger stop entries below strong bars and get follow-through. Too many tails below.<\/li>\n\n\n\n<li>Bulls must do a little more to convince most traders to get long. I think it&#8217;s better to wait to see what happens Monday below that bear bar\u2014I think it&#8217;s a bear trap, and we will reverse up.<\/li>\n\n\n\n<li>I would be out of shorts above that bar.<\/li>\n\n\n\n<li>See how Friday closed on the MA in the middle of the range? It&#8217;s saying TR price action in an overall HTF bull spike.<\/li>\n\n\n\n<li>What would I need to sell? I&#8217;m not interested in selling here at the MA. I think its a buy below those big bull bars.<\/li>\n\n\n\n<li>Now that bulls have triggered a High 3 buy signal on Thursday, I would need to see those traders trapped long, as we reverse strongly to even consider it.<\/li>\n\n\n\n<li>Better to be long or flat, but ok to wait for more evidence.<\/li>\n\n\n\n<li>Wedge Bottom pullback towards the 200 is a reasonable long entry for a test of the high.<\/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 went sideways last week again, with a tight trading range in BO mode. The bears had a chance to pull back the market, but the buying has been relentless. You don&#8217;t want to trading countertrend with open breakout gaps below, the probability isn&#8217;t worth it. But the [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":212273,"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-212143","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\/07\/FTSE-100-Tight-Trading-Range-Above-Support-1.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\/212143","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=212143"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/212143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/212273"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=212143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=212143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=212143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}