DAX30 Resting Previous Resistance as Support Within Channel

Good afternoon traders,

I hope you enjoyed your weekend. Always good to switch off and take some time away from the markets when you’re trading so don’t waste the precious little opportunity you’re given!

DAX30 Daily:

Click on chart to see a larger view.

As you can see, price broke out above resistance at the swing highs we were showing here and has now come back to retest the level.

This is where things get interesting again for indices traders as they will look to manage their risk around the level by either closing existing longs on a break, or possibly adding into their already profitable positions if the level can once again hold.

Best of probabilities to you!

Dane Williams – Vantage FX

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Source: Vantage FX Blog