Have You Considered A Ride Down IWM 170?

18 Mar 2023

IWM50 MA crossed down the 200 MA on the daily and 4H timeframe. The daily chart shows a lot of sellers. IWM also made lower highs on the weekly timeframe. Also, the exchange traded fund is resting on a trendline that it's maintained since March 2020! If we break down below 170 and it holds, IWM should see more downside. The weekly chart shows an increase of sellers between last week and this week. Last but not least, the etf shows a shooting star candle that printed on the weekly chart (March 13-17, 2023). Therefore, my plan is to short IWM below 170!

I will ride down IWM 170 (provided price gets there of course).



*This is not financial advice

Peace & Harmony,
MrALtrades00

19 Mar 2023

Not

IWM also has a head and shoulders pattern on the daily timeframe!