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kinetictrading

IWM/R2K has been relatively weak compared to the Naz. Short?

Short
iShares Russell 2000 ETF (AMEX:IWM)  
kinetictrading Updated   
AMEX:IWM   iShares Russell 2000 ETF
Trend Analysis Chart Patterns iwmshort IWM Fibonacci Retracement
3
0
trendanalysis chartpattern iwmshort iwm fibonacciretracement
With confirmation, we will be entering this short with defined risk and target as shown on the chart. It has traded relatively weak compared to the other major markets.
Comment:
T1 is at 61.8 while T2 is at 50 Fib levels. Another option is to trail the stop when a lower high is formed.
Trade active:
Waited a week for this to go through S/R zone. In trade now with TGT as showed on chart.
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