{"id":177563,"date":"2023-05-06T07:00:00","date_gmt":"2023-05-06T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=177563"},"modified":"2023-05-06T03:29:13","modified_gmt":"2023-05-06T10:29:13","slug":"ftse-head-and-shoulders","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/ftse-head-and-shoulders\/","title":{"rendered":"FTSE Head and Shoulders Top or High 1 Buy?"},"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 possible FTSE head and shoulders top on the weekly chart. The bulls want a High 1 buy above the pullback, but they might wait for a better entry bar. The bulls want a strong close or double bottom above the prior trading range high from 2022. The bears have a chance to break back inside that range with a lower high. Next week should be sideways to down.<\/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\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy.jpg\" alt=\"FTSE Head and Shoulders Top or High 1 Buy\" class=\"wp-image-177642\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Head and Shoulders Top or High 1 Buy<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The <a href=\"https:\/\/www.brookstradingcourse.com\/analysis\/ftse-100-small-pullback\/\" target=\"_blank\" rel=\"noreferrer noopener\">FTSE 100 futures<\/a> last week was a bear bar closing below its midpoint (but it&#8217;s hard to tell from eyeballing it.)<\/li>\n\n\n\n<li>It looks like a head and shoulders top, which could lead to a measured move down.<\/li>\n\n\n\n<li>It closed below last week&#8217;s bear bar, so traders who sold last week made money.<\/li>\n\n\n\n<li>It&#8217;s a bear bar, so it&#8217;s a sell signal and is the second consecutive bear bar &#8211; although both have significant tails.<\/li>\n\n\n\n<li>The tail below is large, so it&#8217;s a bad stop order sell, which means it is a good limit order buy &#8211; most traders should wait for more information. <\/li>\n\n\n\n<li>The bulls see a strong 5-bar bull micro channel and expect a second leg up.<\/li>\n\n\n\n<li>The bears see a lower high double top, a possible head and shoulders top and are looking for a break below and a possible measured move down.<\/li>\n\n\n\n<li>The bulls see we have a gap of exactly 4 points above the high of the prior 18-month trading range from Feb 27<sup>th<\/sup>. <\/li>\n\n\n\n<li>Although small, that could be important. If bulls can get close to keeping that gap open, the bears will start to give up, and bulls will get a second leg higher.<\/li>\n\n\n\n<li>After such a strong spike, both traders expected to buy at the moving average. The bulls want this to be a spike and channel bull trend, and we just ended a pullback. They are looking for the High 1 buy.<\/li>\n\n\n\n<li>The bulls also see the open gap above the doji, which kicked off the move and will act as support. Bears want to close it to keep the price in a trading range. In trading ranges, gaps close, while in trends, they stay open.<\/li>\n\n\n\n<li>The sell climax disappointed the bulls in March, so they scaled in lower and exited back at their original entries &#8211; limit bulls are making money.<\/li>\n\n\n\n<li>Bears need one more bar to get the always-in bulls to exit &#8211; they will get out below a strong bear bar.<\/li>\n\n\n\n<li>Expect sideways to down next week with buyers below the lows. It might form a larger bull flag pattern.<\/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\/2023\/05\/FTSE-100-Parabolic-Wedge-Bottom-at-100-Day-MA.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Parabolic-Wedge-Bottom-at-100-Day-MA.jpg\" alt=\"FTSE 100 Parabolic Wedge Bottom at 100-Day MA\" class=\"wp-image-177646\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Parabolic-Wedge-Bottom-at-100-Day-MA.jpg 1920w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Parabolic-Wedge-Bottom-at-100-Day-MA-300x169.jpg 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Parabolic-Wedge-Bottom-at-100-Day-MA-680x383.jpg 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Parabolic-Wedge-Bottom-at-100-Day-MA-768x432.jpg 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Parabolic-Wedge-Bottom-at-100-Day-MA-1536x864.jpg 1536w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/a><figcaption class=\"wp-element-caption\">FTSE 100 Parabolic Wedge Bottom at 100-Day MA<\/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> went up on Friday with a bull inside-bar in between the 20-day and 100-day MA.<\/li>\n\n\n\n<li>It is a bull bar closing on its high, so it&#8217;s a High 2 buy, but inside bar BO&#8217;s have a high failure rate.<\/li>\n\n\n\n<li>The bulls see the 20-bar MA Gap bar buy failed on Wednesday, and the bulls scaled in below it to get out with a profit.<\/li>\n\n\n\n<li>It&#8217;s three pushes down, a parabolic wedge bottom so that traders will expect 2 legs sideways to up.<\/li>\n\n\n\n<li>The bears want to break below the wedge and get back to the start of the spike and channel from the end of March.<\/li>\n\n\n\n<li>The lack of sellers below Thursday&#8217;s low is concerning for the bears. They might wait for a pullback to sell higher &#8211; a reasonable place would be at the failed High 1 area above.<\/li>\n\n\n\n<li>The bulls see a pullback from a very strong move and want a second leg of that whole move from April.<\/li>\n\n\n\n<li>But we&#8217;ve been going sideways for 6 months, and we are near the midpoint, so the probability is closer to 50\/50.<\/li>\n\n\n\n<li>Bulls need to break a trendline before buying &#8211; stop going down, start going sideways, and then buy.<\/li>\n\n\n\n<li>Bears will likely sell a scalp above this bar for a move back to the prior breakout point and close the breakout gap.<\/li>\n\n\n\n<li>It is a better buy above, so limit bears might wait.<\/li>\n\n\n\n<li>Because the bull move was a type of wedge, the pattern might need to complete to test the start of leg 3, which is one more bar down. <\/li>\n\n\n\n<li>There are gaps above and gaps below &#8211; we will probably close both &#8211; but not sure in which order &#8211; up first, then close low by Friday.<\/li>\n\n\n\n<li>Because it&#8217;s a trading range, we might do both. Expect sideways to down next week.<\/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 possible FTSE head and shoulders top on the weekly chart. The bulls want a High 1 buy above the pullback, but they might wait for a better entry bar. The bulls want a strong close or double bottom above the prior trading range high from [&hellip;]<\/p>\n","protected":false},"author":10339,"featured_media":177642,"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":[1699,1894],"class_list":["post-177563","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ftse-100","category-analysis","tag-ftse-100","tag-head-and-shoulders","entry","override","shadow"],"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/05\/FTSE-100-Head-and-Shoulders-Top-or-High-1-Buy.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\/177563","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=177563"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/177563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/177642"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=177563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=177563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=177563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}