FractalTrader
Short

Short term bounce needed for short setup

AMEX:IWM   ISHARES RUSSELL 2000 ETF
30 0 1
I like the .382 fib retracement target in this case, based on the lower timeframe. The 15min chart has an ABC retracement in place, with an extension to the same area.

( IWM             15min chart)
snapshot


Both point to 166 area, then we should see another leg down covering at minimum the distance of this last move, but likely 161.8% or more.
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