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.”

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

Risk Disclosure: In addition to the website disclaimer below, the material on this page prepared by forex broker Vantage FX Pty Ltd does not contain a record of our prices or solicitation to trade. All opinions, news, research, tools, prices or other information is provided as general market commentary and marketing communication – not as investment advice. Consequently, any person acting on it does so entirely at their own risk. The expert writers express their personal opinions and will not assume any responsibility whatsoever for the forex trading account of the reader. We always aim for maximum accuracy and timeliness, and Vantage FX shall not be liable for any loss or damage, consequential or otherwise, which may arise from the use or reliance on this service and its content, inaccurate information or typos. No representation is being made that any results discussed within the report will be achieved, and past performance is not indicative of future performance.

Source: Vantage FX Blog