$RTY #240 min #corrective a-b-c up pullback #trading setup
RTY hit confluence of two fib levels and 200 MA on 240 min chart:
The move up off the low looks like a corrective -a-b-c- up bounce that has just retraced 41.4% of the preceding five wave down move. That is a textbook target for a corrective pullback.
I consider this move up as a corrective bounce setting up for another leg down.