What is the right course of action?

You are faced with a yield sign (a triangular red and white sign) at the intersection. According to German traffic rules, when you approach a yield sign, you must give way to traffic on the main road.

In this situation, the cyclist on your left and the black car seen in the rear-view mirror have the right of way because they are on the main road, which you are about to enter. You must wait for both the cyclist and the car to pass before you can proceed with your right turn.

This rule ensures safety by preventing collisions when entering or crossing a main road. Always watch carefully for other road users when seeing a yield sign and prepare to stop if necessary. So, in this case, waiting is the correct action.