hard · Elliott Wave Theory motive

During a bull market rally, price makes a new high in Wave 5, but the volume is significantly lower than it was during Wave 3. Additionally, the RSI peak in Wave 5 is lower than the RSI peak in Wave 3.

What do these signals suggest?

  1. The market has most likely entered a running flat correction pattern at this stage.
  2. Wave 5 is extending further and should eventually reach a 2.618 extension target.
  3. The count is invalid, because a valid Wave 5 must always register the highest volume of the entire impulse.
  4. The 5-wave impulse is likely complete, and a reversal or significant correction is imminent.

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