FTSE 100 Futures<\/h2>\n\n\n\nThe Weekly<\/em> FTSE chart<\/h3>\n\n\n\n![\"FTSE](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/03\/FTSE-100-futures-Weekly-Chart-Bull-Doji-Bar-Pause-at-100-Week-MA-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week’s FTSE candlestick was a bull doji bar closing at its midpoint with large tails above and below.<\/li>
- Although it traded lower than last week’s large bear surprise bar, it was weak follow-through selling after the largest pullback in a 16-month bull trend.<\/li>
- Both this week and last week’s bar have tails on the bottom which suggest it is not as bearish as it could be.<\/li>
- The bears see it as a pause before a second leg down. Though we might need to go sideways to up first.<\/li>
- The bulls see it as the bottom of a 12-month trading range, the top of a breakout from 2021 and previous tight trading range which was a magnet and reasonable place for bears to exit.<\/li>
- The bulls might also see it as the deepest pullback in a much longer bull trend from the COVID crash.<\/li>
- Either way the bears have struggled to get follow-through selling on the weekly chart for more than 3 consecutive weeks since the COVID crash – and this week was no different.<\/li>
- The bears know we failed to breakout from the pre-COVID resistance above which improves their probability to scale into shorts above this week\u2019s bar. They need a strong close next week to convince trailers we are going lower.<\/li>
- This week was also the first moving average gap bar in over 3 months which is a reasonable buy setup in a trend. The bulls have bought each time this has happened in the prior 12 months.<\/li>
- If the bulls take that signal above 7250 it might suggest the bottom of the trading range is holding with a view to test the high at 7700.<\/li>
- The bears will need to print another week below the moving averages to convince traders we will get a second push down. Hoping on a measured move target to 6400<\/li>
- Because last week was a doji there is a lack of commitment which is the hallmark of a trading range. Traders will likely BLSHS (Buy low sell high scalp.)<\/li>
- Bulls want to trade higher next week and trigger a High 1 buy signal but will need strong follow through buying to get there. A high 1 buy in the middle of a trading range is not a strong signal so they will likely use a wide stop and scale in lower at a possible double bottom.<\/li>
- If we do go much higher in the next week or two, we can expect sellers around the moving average looking for a possible low 1 sell, possible second leg down to 6800.<\/li><\/ul>\n\n\n\n
The Daily<\/em> FTSE chart<\/h3>\n\n\n\n![\"FTSE](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/03\/FTSE-100-futures-Daily-Chart-Micro-DT-at-the-Moving-Average-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- Friday\u2019s candlestick on the daily FTSE chart was a bear doji with long tails. It was a possible failed low 1 at the moving average.<\/li>
- Wednesday and Friday was a possible micro double top and Thursday and Friday printed an inside-outside breakout mode pattern for next week.<\/li>
- Although Monday continued last week’s selling pressure, it finished at a measured move break of an expanding triangle from last week and then reversed higher.<\/li>
- The bears see it as a pullback in a weak bear channel and a high probability sell if we reject the moving average again or if we trade lower for another leg and test of 6800. 6800 is a reasonable exit as it has been support in a 6-month trading range.<\/li>
- That would also be a possible double bottom at the bottom of the trading range and reasonable buy setup for a test of the highs.<\/li>
- Bears want to convince traders that was the spike for a longer bear trend but were unable to get strong closes this week.<\/li>
- The bulls see Friday\u2019s failed low 1 and want a second leg up past the moving average. They see the spike down as a sell climax.<\/li>
- Because we are sitting in a 12-month trading range, both bulls and bears are likely to be disappointed.<\/li>
- We will likely see sellers above at the moving average and buyers below betting on a trading range. So the result is probably sideways to down.<\/li>
- Bears would need a strong close, which they might get closer up to around 7300 to convince traders we will go down further.<\/li>
- March and April are often the most bullish months of the year. So if we do see a second leg down it might end at 6800 creating a double bottom buy signal. That will help convince traders we have seen the low for many months, possibly even the rest of the year. <\/li><\/ul>\n\n\n\n
Weekly Reports Archive<\/h3>\n\n\n\n
![\"FTSE](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/03\/FTSE-100-futures-Weekly-Chart-Bull-Doji-Bar-Pause-at-100-Week-MA.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- This week’s FTSE candlestick was a bull doji bar closing at its midpoint with large tails above and below.<\/li>
- Although it traded lower than last week’s large bear surprise bar, it was weak follow-through selling after the largest pullback in a 16-month bull trend.<\/li>
- Both this week and last week’s bar have tails on the bottom which suggest it is not as bearish as it could be.<\/li>
- The bears see it as a pause before a second leg down. Though we might need to go sideways to up first.<\/li>
- The bulls see it as the bottom of a 12-month trading range, the top of a breakout from 2021 and previous tight trading range which was a magnet and reasonable place for bears to exit.<\/li>
- The bulls might also see it as the deepest pullback in a much longer bull trend from the COVID crash.<\/li>
- Either way the bears have struggled to get follow-through selling on the weekly chart for more than 3 consecutive weeks since the COVID crash – and this week was no different.<\/li>
- The bears know we failed to breakout from the pre-COVID resistance above which improves their probability to scale into shorts above this week\u2019s bar. They need a strong close next week to convince trailers we are going lower.<\/li>
- This week was also the first moving average gap bar in over 3 months which is a reasonable buy setup in a trend. The bulls have bought each time this has happened in the prior 12 months.<\/li>
- If the bulls take that signal above 7250 it might suggest the bottom of the trading range is holding with a view to test the high at 7700.<\/li>
- The bears will need to print another week below the moving averages to convince traders we will get a second push down. Hoping on a measured move target to 6400<\/li>
- Because last week was a doji there is a lack of commitment which is the hallmark of a trading range. Traders will likely BLSHS (Buy low sell high scalp.)<\/li>
- Bulls want to trade higher next week and trigger a High 1 buy signal but will need strong follow through buying to get there. A high 1 buy in the middle of a trading range is not a strong signal so they will likely use a wide stop and scale in lower at a possible double bottom.<\/li>
- If we do go much higher in the next week or two, we can expect sellers around the moving average looking for a possible low 1 sell, possible second leg down to 6800.<\/li><\/ul>\n\n\n\n
The Daily<\/em> FTSE chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- Friday\u2019s candlestick on the daily FTSE chart was a bear doji with long tails. It was a possible failed low 1 at the moving average.<\/li>
- Wednesday and Friday was a possible micro double top and Thursday and Friday printed an inside-outside breakout mode pattern for next week.<\/li>
- Although Monday continued last week’s selling pressure, it finished at a measured move break of an expanding triangle from last week and then reversed higher.<\/li>
- The bears see it as a pullback in a weak bear channel and a high probability sell if we reject the moving average again or if we trade lower for another leg and test of 6800. 6800 is a reasonable exit as it has been support in a 6-month trading range.<\/li>
- That would also be a possible double bottom at the bottom of the trading range and reasonable buy setup for a test of the highs.<\/li>
- Bears want to convince traders that was the spike for a longer bear trend but were unable to get strong closes this week.<\/li>
- The bulls see Friday\u2019s failed low 1 and want a second leg up past the moving average. They see the spike down as a sell climax.<\/li>
- Because we are sitting in a 12-month trading range, both bulls and bears are likely to be disappointed.<\/li>
- We will likely see sellers above at the moving average and buyers below betting on a trading range. So the result is probably sideways to down.<\/li>
- Bears would need a strong close, which they might get closer up to around 7300 to convince traders we will go down further.<\/li>
- March and April are often the most bullish months of the year. So if we do see a second leg down it might end at 6800 creating a double bottom buy signal. That will help convince traders we have seen the low for many months, possibly even the rest of the year. <\/li><\/ul>\n\n\n\n
Weekly Reports Archive<\/h3>\n\n\n\n