{"id":166682,"date":"2022-12-17T07:00:00","date_gmt":"2022-12-17T15:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=166682"},"modified":"2022-12-16T22:21:07","modified_gmt":"2022-12-17T06:21:07","slug":"ftse-100-double-top","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/ftse-100-double-top\/","title":{"rendered":"FTSE 100 Double Top in Trading Range or Pullback"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: FTSE 100 Futures<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The\u00a0<strong>FTSE futures <\/strong>market formed a FTSE 100 double top high in a trading range last week, or is it a pullback?  The bulls had a tight bull channel, so they expected a second leg after a corrective move sideways to down. It is likely we will test the breakout point in November. Bulls want a bear trap and reversal for a breakout above. The bears want continuation for a sharp move back down into the middle of the range.<\/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\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback.jpg\" alt=\"FTSE 100 Double Top in Trading Range or Pullback\" class=\"wp-image-166754\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Double Top in Trading Range or Pullback<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.investing.com\/indices\/uk-100-futures\" target=\"_blank\" rel=\"noreferrer noopener\">FTSE 100 futures<\/a> was a bear bar closing on its low, so we might gap down on Monday.<\/li>\n\n\n\n<li>It is two consecutive big bear bars so we are likely always in short.<\/li>\n\n\n\n<li>The bulls see a pullback after an 8-bar tight bull micro channel. It is a spike and likely to have a second leg sideways to up.<\/li>\n\n\n\n<li>The bulls see Nov 7<sup>th<\/sup> as a target for the pullback as a prior breakout gap to reverse and continue higher.<\/li>\n\n\n\n<li>The bears see a strong sell signal high in a trading range, so a reasonable short. The bears want a second leg sideways to down, probably to the first pullback in the middle of the trading range.<\/li>\n\n\n\n<li>Last week&#8217;s bear bar wasn&#8217;t an ideal sell signal, so we might need to go back and test it before a second leg further down.<\/li>\n\n\n\n<li>This trading range has had sudden big moves, so although it is bearish, look left and see the corrections up are just as fast.<\/li>\n\n\n\n<li>Bulls will look to scale in at the moving average, seeing last week&#8217;s bar as bulls exiting and not as bears selling. They know some bears sold at Nov 7<sup>th <\/sup>and are trapped.<\/li>\n\n\n\n<li>Bears will look to create a lower high than last week. They succeeded in preventing a higher swing point with Aug 19<sup>th<\/sup>, so at least they have a trading range to convert into a deeper trend down.<\/li>\n\n\n\n<li>Most traders should be short or flat. <\/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\/2022\/12\/FTSE-100-BO-Test-of-Channel-or-Failed-Wedge-Bottom.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-BO-Test-of-Channel-or-Failed-Wedge-Bottom.jpg\" alt=\"FTSE 100 BO Test of Channel or Failed Wedge Bottom.jpg\" class=\"wp-image-166739\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-BO-Test-of-Channel-or-Failed-Wedge-Bottom.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-BO-Test-of-Channel-or-Failed-Wedge-Bottom-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-BO-Test-of-Channel-or-Failed-Wedge-Bottom-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-BO-Test-of-Channel-or-Failed-Wedge-Bottom-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-BO-Test-of-Channel-or-Failed-Wedge-Bottom-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 BO Test of Channel or Failed Wedge Bottom<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.investing.com\/indices\/uk-100-futures\" target=\"_blank\" rel=\"noreferrer noopener\">FTSE 100 futures<\/a> was a bear bar closing on its low, so we might gap down on Monday.<\/li>\n\n\n\n<li>It is the second consecutive bear bar &#8211; both big and both are closing on their lows, so we are always in short closing just above the 100-day moving average.<\/li>\n\n\n\n<li>The bulls see a small pullback bull trend from the low to the high of a trading range. Traders expected two legs sideways to down.<\/li>\n\n\n\n<li>It was more than 20 bars above the moving average, so traders expected to reach it and find buyers. But now we are breaking below.<\/li>\n\n\n\n<li>There was a double top on Dec 5<sup>th<\/sup>, a bad sell signal, so once we hit the moving average, we tested that breakout point and continued down for another leg.<\/li>\n\n\n\n<li>The bears see a bigger double top with August 19<sup>th<\/sup>. It was a second entry short signal after the bear bar on Dec 6<sup>th<\/sup>. Most bears sold below that or waited for one more bar.<\/li>\n\n\n\n<li>The bulls want a spike and channel test down to the Nov 11<sup>th<\/sup> or Nov 22<sup>nd<\/sup> low. They have open gaps around here, so it is reasonable to test these swing points in a trading range.<\/li>\n\n\n\n<li>The bears might see a failed wedge bottom bull flag, with Friday breaking below. They would want a further measured move based on the measuring gap putting it down at that channel test. <\/li>\n\n\n\n<li>Trading ranges are full of disappointment, so we might do none of the above. Monday could reverse, creating a sell climax and trapping bears into a bad short. Bulls can get a second entry-long signal with Dec 13<sup>th<\/sup>.<\/li>\n\n\n\n<li>Small pullback bull trends are likely to convert into trading ranges first.<\/li>\n\n\n\n<li>Most traders should be short or flat<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">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 The\u00a0FTSE futures market formed a FTSE 100 double top high in a trading range last week, or is it a pullback? The bulls had a tight bull channel, so they expected a second leg after a corrective move sideways to down. It is likely we will test the breakout point [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":166754,"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":[328,1699,84],"class_list":["post-166682","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ftse-100","category-analysis","tag-double-top","tag-ftse-100","tag-trading-range","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2022\/12\/FTSE-100-Double-Top-in-Trading-Range-or-Pullback.jpg","author_info":{"display_name":"Timothy","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/timfairweathercagmail-com\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/166682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/10339"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=166682"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/166682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/166754"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=166682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=166682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=166682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}