Market Overview: FTSE 100 Futures

FTSE 100 futures went sideways final week on the ATH with a pause bar excessive in a bull spike. On a HTF, merchants anticipate extra legs up, however presently most bulls are sitting on huge income so they are going to be in search of any cause to verify the transfer up is failing. Three huge bull bars, so doubtless extra up, however okay to take income and anticipate a Excessive 2.

FTSE 100 Futures

The Weekly FTSE chart

• The FTSE 100 futures went sideways final week with a pause bar excessive after a powerful bull spike breakout and follow-through.
• Final week’s session noticed a failed breakout, with the bar closing on its low regardless of a tail above the excessive.
• A powerful bull breakout with three consecutive closes above a earlier excessive left an open breakout hole.
• All bull bars closed on their highs, indicating merchants are comfy holding positions. The primary reversal is anticipated to be minor.
• We’re seeing a five-bar bull microchannel. Anticipate consumers beneath the lows of the prior two bars.
• There’s a breakout above each the buying and selling vary and a broad bull channel and the transferring common, so it’s doubtless a check again down will likely be profitable.
• Distance from the transferring common is rising, suggesting merchants may take income and re-enter nearer to the typical.
• The cease is way away now, so merchants want to scale back threat. The best means is to scale back their place measurement.
• A second entry brief with a possible double high is required to halt the bullish momentum.
• At all times in lengthy, it’s higher to be lengthy or flat.
• Anticipate sideways to upward motion subsequent week.
• Bears see a possible bull breakout of a bull channel which will arrange a promote sign in two to 3 weeks.

The Day by day FTSE chart

• The FTSE 100 futures went sideways on Friday with consecutive bear dojis, a decent buying and selling vary on the ATH.
• There’s a tight buying and selling vary on the every day chart, with the final 5 bars overlapping with small our bodies and massive tails.
• Six straight bull bars with no decrease tails sign robust shopping for stress from the open.
• Bull cease distant; some merchants are in search of a pullback to get lengthy. However doubtless one final leg up earlier than help is created.
• Bears see the measured transfer goal and sure profit-taking space however no clear promote sign but.
• Most merchants ought to search for cheap cease entries in a spot with room to revenue. Up right here, most bulls are already on income so it may be higher to attend for a pullback.
• When not sure, you possibly can scale in because the commerce goes your means.
• Restrict-order bears have just one bear breakout beneath a bear bar, so there is no such thing as a high-probability scalp but.
• Trading beneath the consecutive bear bars subsequent week permits always-in bulls an opportunity to exit and re-enter later.
• Nnot a fantastic cease entry brief with the tails.
• Most merchants must be lengthy or flat.
• Viewing as a breakout above a wedge high or a failed double high—merchants anticipate three legs.
• Some merchants see the space to the cease and determine it’s simpler to brief. That is an phantasm. The chance is just too low to get pleasure from buying and selling this fashion for many merchants as they gained’t sit in to get the RR wanted to make it work.
• Sideways to up motion anticipated subsequent week.

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