The Russell 2000 index ETF (IWM) is approaching a strong support level just below $108 where a well defined weekly trend line and the September trading range meet. This is usually a good short term trade entry point and one where risk can be defined easily. In this case, an entry at $108 with a stop around $106.88 and a target to the prior highs of $111.50 gives a Reward / Risk of 3:1
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- IWM Daily Chart
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- IWM Weekly Chart
