GER 30 Wave 4 Retracement Possible Re-test 11500
I am watching for confirmation that we have begun a Wave 4 Retracement on 1h Chart.
There is bullish divergence appearing on the RSI & MACD between Wave iii and v possibly signalling a short term bottom.
As Wave 2 was a short uptrending 3 Wave Zig~Zag Correction by law of alternation I am looking for a drawn out 3 Wave Flat Correction over the next couple of days. Pending information on Greece's debt crisis.
Wave 4 should not break above the lows of Wave 1 (11585). This analysis will be voided if this occurs.
There is bullish divergence appearing on the RSI & MACD between Wave iii and v possibly signalling a short term bottom.
As Wave 2 was a short uptrending 3 Wave Zig~Zag Correction by law of alternation I am looking for a drawn out 3 Wave Flat Correction over the next couple of days. Pending information on Greece's debt crisis.
Wave 4 should not break above the lows of Wave 1 (11585). This analysis will be voided if this occurs.
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