Hi fellow traders, hope you're doing good.
Let's start the US sessions with German DAX, where we see index trading in a big, bearish triangle formation. We can see a possibly completed leg C at the 11439 level, and the reason for this is a nicely, unfolded three-wave rally within it, which can now be followed by an intra-day drop from the upper triangle line. If that is the case, then current drop can be a new leg D, which must also unfold a three-wave reversal, and can later look for support and potential bounce near the 11180 level, where former gap can be filled. As we know, gaps usually get filled, once they show up. That said, once wave D shows up, a new rally as final leg E may follow.
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