Market Video Overview: FTSE 100 Futures
Tim Fairweather’s weekly report on the FTSE 100 futures market.
FTSE 100 report transcript
Hello everybody. And welcome again to a different weekly market report. My identify’s Tim Fairweather. And at present we’re going to do the FTSE 100 futures index. So let’s go and have a look now, simply earlier than we go into the weekly chart, let’s simply check out the place we’re on the month-to-month as properly. Now you see we’ve obtained a bull channel.
We’re above each the 20 and the 200 shifting common. We’ve had at the least three pushes up and we’ve obtained a few very robust units of bull bars right here. We obtained a brand new excessive and we triggered a purchase above that outdoors bar. There have been patrons under and we’ve obtained a spot to the shifting common. And final month was a bear inside bar.
And that’s actually essential once we zoom down a timeframe now. So now we’re wanting on the FTSE 100 weekly chart and you may see that was the month-to-month excessive one. I’ve obtained HH1. Which is my reference to it’s the best excessive one attainable on this bull development. And we’ve triggered that and gone under. Now we all know final week, sorry, we all know final month was an inside bar.
And now we’ve obtained final week was an inside bar as properly. Now it’s a bull bar, nevertheless it’s obtained a small physique, massive tail under. And meaning there’s two sided buying and selling. And meaning in the event you wished to purchase one tick above that bull bar, you didn’t get stuffed. So your order was stuffed. Will get wiped. So what do you do now?
Properly, in the event you’re a ball, you’re on the lookout for a purchase sign. Possibly you bought lengthy right here. You’re a bit disenchanted by this bear bar and also you’ve had an opportunity perhaps to get outbreak even different bulls are ready for the second affordable purchase sign utilizing the idea of second entry. So we’ve had one leg down to 2 legged pullback, hoping that there’s going to be extra to this spike, however they haven’t been triggered.
Now they’ve obtained an inside bar and that reduces the chance of a very massive breakout. with no pullback to that prime. So I believe we’re nonetheless going to go sideways, most likely above and again to this entry level. Um, ideally I’d like to purchase under that inside bar above the shifting common, however I’m undecided whether or not I’ll get stuffed down there.
I’m nonetheless trying to purchase on the weekly. I purchased, uh, my first weekly purchase was down right here. Second one was right here. After which, uh, I don’t normally commerce the weekly chart, nevertheless it was one thing I used to be making an attempt to enhance in my very own buying and selling. After which I mainly purchased the three lowest bull bars and it was great buying and selling on FTSE.
After which I used to be simply on the lookout for each second entry. So each second bull bar has been working all the best way up. After which we obtained a brand new all time excessive and I didn’t fairly get out all the best way on that bar, however actually good trades in there. So I’m on the lookout for one other commerce on the and I haven’t seen one but. Um, I almost purchased above this bull bar right here.
Nevertheless it’s an out of doors bar and there’s simply an excessive amount of sideways. And I desire for it to interrupt out and attempt to purchase a pullback than purchase, should scale in and have the stress. So in the event you’re a bear, what do you see? Properly, this was a giant pullback. So that you’re pondering there’s going to be one other second leg like that.
You suppose, okay, perhaps that is going to have three pushes up wedge bear flag. The issue is that all the pieces’s sloping up. So that you’re solely going to promote above one thing and also you’re solely going to promote In case you’re going to scale in. So some bears offered right here that didn’t work out too properly. Uh, so I might think about they’re going to attempt to promote once more right here and get out break even, and that their break even may really be the very best spot.
So we’re going to see what occurs there. So nonetheless at all times in lengthy, uh, anticipating sideways to up subsequent week. Uh, I don’t suppose there’s a very good cease entry commerce right here. Uh, restrict order bulls. We’ll be trying to purchase on this bar by the shifting common by under. Uh, however I don’t suppose the chance is different. In order that’s the FTSE on the weekly.
So FTSE 100 on the day by day chart. Properly, we all know we’ve obtained a month-to-month inside bar and a weekly inside bar. Shock, shock, once we zoom in, what are we going to seek out? A large number. We’ve obtained squeezing across the shifting common. There are not any cease entry trades right here on this chart. So, Um, you already know, you may zoom right into a decrease timeframe, however you’re doing that with the data that we’re reversing always.
Now only for curiosity, I simply drew a variety of the wedges. So you already know, wedge prime and a take a look at, which backside take a look at, which prime take a look at we’re squeezing in a triangle right here and merchants are beginning to marvel, is that this going to have a second leg? In all probability not as a result of we went above it. So in the event you offered and offered larger. Are you actually going to have one other shot at that cell or are you going to attend for a decrease low?
There are different bears that see this spike and need a second leg, however what’s the issue with these spikes? Each bear spike on right here actually struggled to get a very good second leg, however each bull spike equal to or higher second leg, okay? And that’s as a result of we’re above each shifting averages in a bull channel.
So each time there’s one thing bearish, it’s really one thing bullish. So I’m not prepared to make use of a cease order to promote under something right here. I actually don’t need to purchase above something right here with all these tails. Seems like a variety of, you already know, intraday scalping. Is Friday a very good sign bar? No, it’s not a very good purchase above.
It’s not a very good promote under. It’s crossing the shifting common. So typically, I might simply say, don’t contact barbed wire, tight buying and selling vary, decide it in for an instrument, or simply take a break. Subsequent attainable trades to arrange. Properly, we actually want a breakout. So to me, this was the most important factor on the chart.
Then that is the most important factor on the chart and this hasn’t obtained a second leg and patterns like this kind an infinite pullback in a bull channel and merchants look ahead to this, this second leg to kick, however then it finally ends up being a scout after which reverses and different merchants will name this a variation of a cup and deal with.
However in the mean time, too many outdoors bars, too many inside bars. Breakout mode. So greatest to go away. Thanks very a lot for watching everybody. That was the FTSE 100 for final week and prediction for subsequent week. So we’ve obtained a month-to-month inside bar, bear inside bar and breakout mode on the day by day chart. So most likely higher to attend for a greater cease entry commerce to arrange.
After all, in the event you’re an intraday dealer, the 60 minute and the 5 minute are going to have alternatives as typical. However that’s FTSE 100 for final week. My identify is Tim Fairweather. Thanks very a lot for watching from the Brooks Trading Course.
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