Technical Analysis:
1.) Elliott Wave 5-wave impulse is complete.
2.) RSI is overbought (typically >70 on most platforms) — this often signals a momentum slowdown and coming reversal.
Thus,
The Market is likely about to shift into corrective mode → A-B-C pullback, as you’ve sketched.
Market Psychology:
At Wave (5) + Overbought RSI, the psychology is typically:
Retail traders rush to buy the top.
Smart money prepares to exit or short.
Trigger events (fundamental catalysts) are only needed for acceleration, not for reversal to start.
1.) Elliott Wave 5-wave impulse is complete.
2.) RSI is overbought (typically >70 on most platforms) — this often signals a momentum slowdown and coming reversal.
Thus,
The Market is likely about to shift into corrective mode → A-B-C pullback, as you’ve sketched.
Market Psychology:
At Wave (5) + Overbought RSI, the psychology is typically:
Retail traders rush to buy the top.
Smart money prepares to exit or short.
Trigger events (fundamental catalysts) are only needed for acceleration, not for reversal to start.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.