Russell 2000 ETF (IWM) ~ December 4H Swing

4 Ara 2023

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.