IWM
chart analysis/mapping. IWM ETF rally off late October lows on market expectations of the end to Fed rate hikes.
Trading scenarios:
- Continuation rally #1 = multiple gap fill / 38.2% Fib / upper range of parallel channel (green) confluence zone.
- Shallow pullback #1 = 23.6% Fib / horizontal line (light blue dashed) confluence zone.
- Deeper pullback #1 = lower range of parallel channel (green) / 200MA confluence zone.
- Capitulation #1 = re-test ~163 bottom.
