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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
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:
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