Short Russell 2000:channel bottom in SRTY
IWM facing resistance from 2014 uptrend line. Also two degrees of rising wedge forming with continuing bearish divergence on 1 Day chart. ~14% drop in IWM to 38.2 fib level likely to correspond to the channel fill in SRTY.
Trade active
Target reached (20% profit) but keeping position as IWM lost 200DMA. New target 53 with stop loss at 46.Trade closed: target reached
Stopped out at 46 for 15% profit.
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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.