{"id":214101,"date":"2024-08-03T07:00:00","date_gmt":"2024-08-03T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=214101"},"modified":"2024-08-02T20:35:03","modified_gmt":"2024-08-03T03:35:03","slug":"ftse-100-microchannel-open-bo","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-microchannel-open-bo\/","title":{"rendered":"FTSE 100 Microchannel, Open Breakout Gap, Outside 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> went higher last month above the prior inside bar, breaking a bull microchannel. Traders expect more, but that can mean a pullback first to 50% or closing the breakout gap below. It is too high to buy up here, but traders might buy the new high with a small size and scale-in. Otherwise, the inside bar is a sign of profit-taking.<\/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\/2024\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-Bar.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-Bar.jpg\" alt=\"FTSE 100 Microchannel, Open Breakout Gap, Outside Bar\" class=\"wp-image-214168\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-Bar.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-Bar-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-Bar-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-Bar-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-Bar-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Microchannel, Open Breakout Gap, Outside Bar<\/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> monthly chart went higher with a bull outside up bar closing near its high.<\/li>\n\n\n\n<li>The bulls see a microchannel and buy below the low of a prior bar.<\/li>\n\n\n\n<li>The bulls see open breakout points and so a breakout gap below.<\/li>\n\n\n\n<li>As long as gaps are open, it is more likely a trending environment.<\/li>\n\n\n\n<li>When gaps close, traders will target those gaps in a trading range, BLSHS environment.<\/li>\n\n\n\n<li>The bears see a broad bull channel, with family two-sided trading ranges in between. Some bears will sell new highs and scale in above prior highs, betting they will make money.<\/li>\n\n\n\n<li>Currently, they are not able to close the last gap, and that&#8217;s a problem for them.<\/li>\n\n\n\n<li>I suspect they will try once more to do that next month.<\/li>\n\n\n\n<li>Always in long, so traders should be long or flat going into August.<\/li>\n\n\n\n<li>Because of the distance to the moving average, we are more likely to pull back a little first to give the bulls a better risk-reward ratio on their trade.<\/li>\n\n\n\n<li>Can you short here? No. It&#8217;s better to wait for a higher probability sell signal below a good bear bar. Selling below anything in a tight bull channel is low probability.<\/li>\n\n\n\n<li>Selling above a rising moving average is also a weak trade. The price is more likely to go sideways there, and then a better buy\/sell will set up.<\/li>\n\n\n\n<li>Expect sideways to up next week.<\/li>\n\n\n\n<li>The inside bar was a reasonable buy below, betting that will not be the top and the bulls will need at least a double top to exit long.<\/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\/2024\/08\/FTSE-100-Tight-Trading-Range-Sell-Signal-After-Buy-Signal.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Tight-Trading-Range-Sell-Signal-After-Buy-Signal.jpg\" alt=\"FTSE 100 Tight Trading Range, Sell Signal After Buy Signal\" class=\"wp-image-214177\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Tight-Trading-Range-Sell-Signal-After-Buy-Signal.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Tight-Trading-Range-Sell-Signal-After-Buy-Signal-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Tight-Trading-Range-Sell-Signal-After-Buy-Signal-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Tight-Trading-Range-Sell-Signal-After-Buy-Signal-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Tight-Trading-Range-Sell-Signal-After-Buy-Signal-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Tight Trading Range, Sell Signal After Buy Signal<\/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> weekly chart went lower, with a bear bar closing on its low.<\/li>\n\n\n\n<li>The bar triggered the buy orders from the High 2 and reversed strongly.<\/li>\n\n\n\n<li>It is a tight trading range and often breakout attempts come right back into the range of the prior bar.<\/li>\n\n\n\n<li>Bears were stuck selling below bars and needed to scale in to get out, but they are not yet out of the stop entry short.<\/li>\n\n\n\n<li>If a bear sold below a prior bar&#8217;s low, they are still stuck.<\/li>\n\n\n\n<li>I think those traders will exit when the price comes back.<\/li>\n\n\n\n<li>Bulls are disappointed with the buy, so they will probably exit if the price returns to their entry at the close or high of the prior weekly bar.<\/li>\n\n\n\n<li>Bulls closed the open gap above, which was expected. That means a trading range is more likely.<\/li>\n\n\n\n<li>Trading ranges create channels and then resist breaking out of them.<\/li>\n\n\n\n<li>We are always in long, but I&#8217;ll change my mind if the bears close below that High 2.<\/li>\n\n\n\n<li>The best sells recently were above a bear bar, so the best buys are typically below a bull bar until one side gets disappointed.<\/li>\n\n\n\n<li>Both moving averages are rising so a bull channel, and traders expect the moving average to act as support.<\/li>\n\n\n\n<li>The pain trade for the bulls is if it becomes a trading range, all the juicy gap targets are below.<\/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 went higher last month above the prior inside bar, breaking a bull microchannel. Traders expect more, but that can mean a pullback first to 50% or closing the breakout gap below. It is too high to buy up here, but traders might buy the new high with [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":214168,"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-214101","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\/08\/FTSE-100-Microchannel-Open-Breakout-Gap-Outside-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\/214101","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=214101"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/214101\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/214168"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=214101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=214101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=214101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}