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Triangle On German DAX Points Higher!

German Dax made a three wave drop, from blue wave d highs, which can only mean that final wave e of a triangle is in motion. Ideally we will see some support kick in around the Fibonacci ratio of 61.8, from where a new reversal higher into wave 5 can follow.

German Dax, 1H

DAX 1-Hour Chart

Triangles are overlapping five wave affairs that subdivide 3-3-3-3-3. They appear to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility.

Basic Triangle Pattern:

Idealized Basic Triangle

 


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