IWM Found Buyers After Double Three Pattern

Hello fellow traders. In this technical article, we take a quick look at the Elliott Wave charts of IWM published in members area of the website. The ETF has recently given us Double Three pull back and found buyers again precisely at the equal legs area as we expected. In the following text, we’ll explain the Elliott Wave count.

IWM Elliott Wave 1 Hour Chart 05.18.2026

The ETF is forming a 3-wave pullback, unfolding as a Double Three pattern. At the moment, we can see incomplete sequences. Our members know that we constantly emphasize the importance of incomplete sequences, as these determine the market’s path.
The structure suggests more weakness toward the Equal Legs area at 274.71-267.93, buying zone. We expect at least a three-wave bounce from the Blue Box area. Once the price reaches the 50% Fibonacci retracement against the (X) connector, we will make the position risk-free by moving the stop loss to breakeven and booking partial profits.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing inside the membership area.

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IWM Elliott Wave 1 Hour Chart 05.22.2026

IWM made proposed leg down and found buyers as expected at the Blue Box area, making decent bounce. Any longs from the blue box zone should be risk free. 289.26 is the key level at this stage. A break above this peak would confirm a bullish continuation for the ETF and open the door for further upside extensions

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