{"id":215238,"date":"2024-08-17T07:00:00","date_gmt":"2024-08-17T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=215238"},"modified":"2024-08-17T07:02:54","modified_gmt":"2024-08-17T14:02:54","slug":"ftse-100-expanding-triangle-buy-signal-above-ma","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/ftse-100-expanding-triangle-buy-signal-above-ma\/","title":{"rendered":"FTSE 100 Expanding Triangle, Buy Signal Above 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> went higher with a bull bar in an expanding triangle. Tight trading ranges in trends are generally continuation patterns, so traders expect more up. But the bears have been scalping. So it will need a strong follow-through bar this week to convince traders it is back to buy the close.<\/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\/08\/FTSE-100-Expanding-Triangle-Buy-Signal-Above-MA.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Expanding-Triangle-Buy-Signal-Above-MA.jpg\" alt=\"FTSE 100 Expanding Triangle, Buy Signal Above MA\" class=\"wp-image-215359\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Expanding-Triangle-Buy-Signal-Above-MA.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Expanding-Triangle-Buy-Signal-Above-MA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Expanding-Triangle-Buy-Signal-Above-MA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Expanding-Triangle-Buy-Signal-Above-MA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Expanding-Triangle-Buy-Signal-Above-MA-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Expanding Triangle, Buy Signal Above 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> went higher last week with a big bull bar closing near its high in an expanding triangle and above the 20-bar moving average.<\/li>\n\n\n\n<li>The bulls see another bull bar above the moving average and hope for trend resumption back to the all-time high.<\/li>\n\n\n\n<li>The bar has a small tail above, a sign of hesitation.<\/li>\n\n\n\n<li>Bulls had a strong bull spike, and traders bought one tick above the high of that bar and haven\u2019t had a chance to get out break-even. <\/li>\n\n\n\n<li>Some of those bulls would\u2019ve scaled-in buys at the lows of the trading range, hence the tail on the bar two weeks ago.<\/li>\n\n\n\n<li>Bears have been scaling in one-to-one and have been fortunate to sell above bars, but time might be running out for them.<\/li>\n\n\n\n<li>Bears must trigger this bull bar and reverse back down to close the gap.<\/li>\n\n\n\n<li>We are in an expanding triangle, a trading range with climactic reversals.<\/li>\n\n\n\n<li>The only gap still open was left by the bar two weeks ago, and the bulls would like to keep it open and go higher.<\/li>\n\n\n\n<li>As long as the gap is there, bears will aim for it.<\/li>\n\n\n\n<li>We are probably back to always-in long, so traders should be long or flat.<\/li>\n\n\n\n<li>Expect sideways to up movement next week.<\/li>\n\n\n\n<li>Because it\u2019s breakout mode with more than five reversals, some traders will wait for a follow-through bar before buying, preferably above the high of the last bear bar, so both bears and bulls are buying.<\/li>\n\n\n\n<li>Bears will need a double top to reverse such a strong spike.<\/li>\n\n\n\n<li>The bulls had a strong breakout gap that the bears were able to close, which makes them believe that we\u2019re still in a trending trading range.<\/li>\n\n\n\n<li>When gaps are open, limit bears could sell higher and not lose money.<\/li>\n\n\n\n<li>However, most traders should wait for a good entry, either above the bar&#8217;s high or below its low.<\/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\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Bull-Microchannel-After-Test-of-200-MA.jpg\" alt=\"FTSE 100 Bull Microchannel After Test of 200 MA\" class=\"wp-image-215364\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Bull-Microchannel-After-Test-of-200-MA.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Bull-Microchannel-After-Test-of-200-MA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Bull-Microchannel-After-Test-of-200-MA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Bull-Microchannel-After-Test-of-200-MA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/08\/FTSE-100-Bull-Microchannel-After-Test-of-200-MA-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/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> on Friday showed a small bear inside bar with a tail below.<\/li>\n\n\n\n<li>It is in a nine-bar bull microchannel after a strong bear spike.<\/li>\n\n\n\n<li>The bear spike tested the 200-bar moving average and created a micro-double bottom.<\/li>\n\n\n\n<li>The bulls bought strongly from the support area, leaving several open gaps in this spike, a sign of strength.<\/li>\n\n\n\n<li>A bull bought one tick above the high of the last bull bar but got trapped by that spike, so we should go back up and let them out.<\/li>\n\n\n\n<li>The prior spike reversed down and closed all the gaps above it, but a few below might remain open.<\/li>\n\n\n\n<li>Can you sell below the low of Friday? No.<\/li>\n\n\n\n<li>It\u2019s an inside bar above the moving average in a bull spike, so the bulls should get a second leg up.<\/li>\n\n\n\n<li>Some of the bulls are waiting for a break above the high of that spike and a measured move up to a new all-time high.<\/li>\n\n\n\n<li>But trading ranges are disappointing. The bears didn\u2019t get a good second leg, and perhaps the bulls won\u2019t get one either.<\/li>\n\n\n\n<li>The market is always-in long, so traders should be long or flat.<\/li>\n\n\n\n<li>Expect sideways to up next week.<\/li>\n\n\n\n<li>Microchannels rarely last more than six bars, so traders will probably exit below the low of a prior bar instead of expecting more buyers.<\/li>\n\n\n\n<li>I think bears will sell above the high of that bear spike, betting they can at least make a scalp, so we might need to go sideways next week to see who\u2019s in control above that price.<\/li>\n\n\n\n<li>If not trend resumption, a trending-up trading range is likely.<\/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 with a bull bar in an expanding triangle. Tight trading ranges in trends are generally continuation patterns, so traders expect more up. But the bears have been scalping. So it will need a strong follow-through bar this week to convince traders it is back to [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":215359,"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-215238","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-Expanding-Triangle-Buy-Signal-Above-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\/215238","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=215238"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/215238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/215359"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=215238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=215238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=215238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}