Market Overview: FTSE 100 Futures
FTSE 100 futures went greater with a bull exterior bar final month in an outside-outside sample. Bears didn’t do sufficient to persuade merchants to get quick, and now sideways to up is extra probably. It’d go up with two-legged pullbacks, however the bears couldn’t make 1R promoting under the bear bar.
FTSE 100 Futures
The Month-to-month FTSE chart
- The FTSE 100 futures went greater with a bull exterior bar final month.
- It kinds an outside-outside sample and a breakout mode sample. I’ve put the 2 doable measured strikes on the chart.
- The bulls see a bull channel and three legs as much as a brand new all-time excessive.
- Typically, the final leg of a three-push sample can be a three-push sample. So a duelling strains setup.
- The bears see a breakout above a buying and selling vary with a lot of two-sided buying and selling.
- The bulls maintained hole above the breakout level, which suggests there’s a greater likelihood of a second leg up.
- The bears tried to overlap however failed beneath that bull bar, which was purchase sign in a microchannel with open gaps.
- The bears did scalp above the within bar, however one of the best they had been hoping for was a buying and selling vary, in order that they exited their scalp.
- It’s now a stop-entry purchase above a bull bar in a bull channel. But it surely has one downside. The shut shouldn’t be above the excessive of the prior bar.
- If we’re in a channel, extra bulls could also be ready for a pullback into the purchase zone of the prior bar to enter.
- Bears can argue that the surface bars had a much bigger draw back, and so there are bear scalpers round. However most merchants ought to be trying to observe the uptrend.
- At all times in lengthy, so merchants ought to be lengthy or flat.
- Anticipate sideways to up subsequent month.
The Weekly FTSE chart
- The FTSE 100 futures went greater final week with a small bull bar with a fail above it.
- For the bulls, it’s all the time in lengthy, so merchants ought to be lengthy or flat.
- The bar was small, so some merchants count on a volatility enlargement subsequent week.
- It’s a bull channel with open breakout gaps under, so merchants anticipated a second leg sideways to go up.
- But it surely fashioned an increasing triangle. So bears may generate profits promoting above bars, and bulls had been shopping for decrease.
- Breakout mode can final for much longer than merchants suppose, so you have to be cautious buying and selling with cease orders.
- There’s a small hole close to the transferring common, which might be a wonderful purchase zone. However with consecutive bars, we’d not get again there.
- If I had been quick and noticed three bull bars, its time to cowl!
- Bears want promote scalp above the excessive of that massive bear bar.
- However the bears bought caught. Some exited with 1R, and others are nonetheless quick. It was a foul location for a promote (above the MA), so maybe it won’t act as a robust magnet.
- You may see that when the prior week closed, merchants purchased it. Whether it is again to BTC (Purchase The Shut), shopping for and scaling in decrease is one of the best method.
- Can the bears get one other leg down? We went above the large bear bar and nonetheless closed close to the excessive, in order that implies that the entry bar is disappointing for the bear. I’d exit above if I had been quick.
- Anticipate sideways to up subsequent week.
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