DAX triangle break-out

FX:GER30   DAX Index
The triangle I highlighted yesterday played out. The DAX             rallied, came within 10 points of the upper trend line and then retreated a bit. The retreat of wave e of the triangle was very small, it undershot the lower TL by a lot, but that can happen.

Now that we have the triangle break-out, the direction is up. We need to complete a 5 wave impulse to finish the C wave of this (presumed) 4th wave - a-b-c bounce.

The line at 11.022 is where wave 1 of the correction is, so if we overlap that it either means a bear nest or something more bullish . I do not expect the said overlap though.

For traders, there is great news coming from mcm.

They have developed short-term trading tools also for dax             (previously had only for s&p             and dow). This is a major deal as these tools provide a great edge especially in this very stressed environment.

I started a cooperation with them on that regard, so if you have any questions about the tools or are potentially interested in how they work please contact me anytime at

Good luck to your trading!
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