DAX30 Bullish Channel Setup Plays Out

Good afternoon traders,

Like I do every morning, I was just casually flicking through my MT4 watchlist today in search for markets that are in play. Buried at the far end of my list are the indices markets that I don’t normally reach… Until today!

If you are after a textbook setup and trade, then it doesn’t get much better than this DAX30 testing channel support setup. It’s truly one of the cleanest setups I’ve seen play out in a long time. Long live indices markets!

Take a look at the daily chart we posted at the end of August and then compare it with today’s chart below:

August 31:

“DAX30 Daily:

Click on chart to see a larger view.”

Today:
DAX30 Daily:

Click on chart to see a larger view.

The setup has it all: Higher time frame bullish channel support, intraday bull flag, horizontal resistance retested as support… It truly is a piece of art.

Well, I hope you were able to take advantage of the setup. You won’t see a more textbook example of a bullish trend following trade than that.

€$

Best of probabilities to you!

Dane Williams – Vantage FX

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Source: Vantage FX Blog