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IWM: Blue Box Reaction Higher – Awaiting Definition

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In this technical blog, we will look at the past performance of the 4-hour Elliott Wave Charts of IWM. In which, the rally from the 07 April 2025 low unfolded as an 5 waves impulse structure & made a pullback. Thus suggested that ETF should find buyers in the pullbacks in 3, 7 or 11 swings. Therefore, we advised members not to sell the ETF & buy the pullbacks into the blue box areas. We will explain the structure & forecast below:

IWM 4-Hour Elliott Wave Chart From 11.18.2025 Update

IWM: Blue Box Reaction Higher – Awaiting Definition

Here’s the 4-hour Elliott wave chart from the 11.18.2025 update. In which, the ETF made a pullback towards the blue box area. The internals of that pullback unfolded as Elliott wave double three structure where wave (W) ended at $236.37 low. Wave (X) bounce ended at $246.38 high. Then wave (Y) managed to reach the blue box area at $229.87- $219.62. From there, buyers were expected to appear looking for the next leg higher or for a 3 wave bounce minimum.

IWM Latest 4-Hour Elliott Wave Chart From 11.24.2025 Update

IWM: Blue Box Reaction Higher – Awaiting Definition

This is the Latest 4-hour Elliott wave Chart from the 11.24.2025 update. In which the ETF is showing a reaction higher taking place, right after ending the double correction within the blue box area. Allowed members to create a risk-free position shortly after taking the long position at the blue box area. However, the ETF’s awaiting definition now either to resume higher on a clear break above $252.77 October 15, 2025 peak and avoid deeper pullback.

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iShares Russell 2000 ETF (IWM)- Elliott Wave Buying the Dips at the Blue Box

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As our members know we have had many profitable trading setups recently.   In this technical article, we are going to talk about another Elliott Wave trading setup we got in iShares Russell 2000 ETF -IWM . The ETF has completed its correction exactly at the Equal Legs zone, also known as the Blue Box Area. In this article, we’ll break down the Elliott Wave forecast, explain the trading setup in detail, and provide the upside target.

IWM Elliott Wave 1 Hour  Chart 8.20.2025

IWM is forming a three-wave pullback against the 212.33 low. The price has already reached the Blue Box (buying zone). We have entered long trades at the equal legs level of 224.52. We expect at least a three-wave bounce from the Blue Box area. Once the price reaches the 50% Fibonacci retracement of the red B connector, we will make the position risk-free by moving the stop loss to breakeven and booking partial profits.

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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.

IWM

IWM Elliott Wave 1 Hour  Chart 8.20.2025

The ETF found buyers as expected, rallying toward new highs. Consequently, any long positions from the Blue Box should now be risk-free. We’ve set our stop loss at breakeven and have already secured partial profits. As long as the price holds the pivot at the 223.64 low, we can expect at least another leg up as indicated on the chart.

Short term: While above the 230.84 low (wave 4 red), IWM is ideally targeting the 239.41–242.03 area next.

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IWM Analysis: Where Should Buyers Look For Next Opportunity?

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IWM barely breached the November 2021 high before a significant pullback followed. However, the larger bullish cycle should resume in the coming weeks while current pullback ends above 161.69 pivot point. Where should buyers look for the next opportunity?

The iShares Russell 2000 ETF (IWM) is one of the most widely traded exchange-traded funds (ETFs) that tracks the performance of the Russell 2000 Index. This index represents the smallest 2,000 companies in the broader Russell 3000 Index, focusing on small-cap U.S. companies

IWM is bullish on both the weekly and daily charts against the March 2020 and October 2023 lows respectively. Despite the current pullback from the November 2024 high, the ETF remains in a clear bullish trend. Before this pullback, prices completed a corrective cycle in October 2023 after a 5-wave bullish sequence that spanned March 2020 to November 2021. The bullish move from October 2023 is forming a 5-wave sequence that should surpass the November 2021 high. While the 3rd wave of this sequence broke above the November 2021 peak, the 5-wave structure is not yet complete. Thus, the current pullback from the November 2024 high likely represents wave ((4)).

In long-term bullish trends like this, pullbacks often present favorable buying opportunities. In contrast, during bearish trends, sellers target the extremes of rallies. Buyers should wait for wave ((4)) to reach its extreme before entering long positions. The pullback from the November 2024 high appears incomplete. Where will wave ((4)) find its bottom and invite new bids?

IWM Daily Chart Updated on 12.01.2024

IWM

As the daily chart above shows, IWM is evolving lower with a double zigzag (7-swing) structure. Wave (W) of ((4)) ended on 20.12.2024, followed by wave (X) on 06.01.2025. Although wave (X) appears shallow, the break below the wave (W) low confirms that wave (Y) is in progress. Wave (X) acts as the connector within the double zigzag. As long as the 227.17 level (wave (X) high) remains intact, wave (Y) should continue lower toward the 198.65–181.06 Fibonacci extreme. At this zone, wave ((4)) is expected to complete, and wave ((5)) should begin. Buyers will likely focus on this area for new opportunities.

Why can’t we sell now?

Of course, you may be wondering, “Why not sell now?” While we expect the dip in wave (Y) to reach the extreme area, the probability of this playing out exactly as forecast is less than 50%. Price could take an alternative path and complete the pullback at a different extreme. However, if the dip does extend as expected, there is at least a 70% chance that a 3-swing bounce will occur at the projected extreme area.

This high probability is supported by two key reasons:

  1. The bullish overall trend: Institutional buyers often take advantage of dips in a bullish market to buy low and sell high, just as they sell into bounces in a bearish market to maximize profits.
  2. Historical patterns in pullbacks: More than 70% of the time, 3- or 7-swing pullbacks/bounces in bullish or bearish sequences react strongly near the equal leg zone (100-138.2%).

We will closely monitor IWM’s price action for Elliottwave-Forecast members in the coming days across all time frames. When a buy setup emerges, we ensure our members don’t miss the opportunity.

About Elliott Wave Forecast

At www.elliottwave-forecast.com, we update one-hour charts four times daily and four-hour charts once daily for all 78 instruments. We also conduct daily live sessions to guide clients on the right side of the market. Additionally, we have a chat room where moderators answer market-related questions. Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at support@elliottwave-forecast.com.

Ishares Russell ETF, IWM Elliott Wave Analysis shows bullish bias

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Hello traders. Welcome to another blog post where we discuss the application of the Elliott wave theory to trade different financial assets. In today’s post, we will discuss the IWM Elliott wave analysis.

The ETF reached an all-time high in November 2021 at 244.46, completing a bullish cycle. Afterward, it plummeted to 162.78 in June 2022 as part of the bearish corrective phase. We shared the chart below with members of ElliottWave-Forecast on the weekend of 9th June 2024.

IWM Elliott Wave Analysis – Weekly Chart. 06.09.2024IWM Elliott Wave ANalysis

The weekly chart above shows the expected corrective phase – wave II. Wave II completed the first leg – wave a in June 2022 and is now on a multi-month rebound for the second leg – wave b. Meanwhile, the price is precisely moving upwards in wave (3) of ((C)) of b. We continued to share weekend charts with members, indicating that the preferred path was upward and we didn’t recommend selling. Thus, buying the pullback was ideal to align with the overriding trend.

IWM Elliott Wave Analysis – H4 Chart. 06.10.2024

IWM Elliott Wave Analysis

On 10th June 2024, we shared the chart above with members. We identified the end of wave 1 of (3) discussed above in the weekly chart. The corresponding pullback for wave 2 was completing a double zigzag Elliott Wave structure. Besides the structure, we also identified the reversal zone at 199.02-193.10. We expected wave 3 to begin from this zone, offering ample opportunity for buyers.

IWM Elliott Wave Analysis – H4 Chart. 06.12.2024

IWM Elliott Wave Analysis

On 10th June 2024, the price hit a little below 199.02 and surged as expected. We shared the H4 chart above with members on 12th June to show wave 3 of (3) had begun. At the first surge, traders hit their first target, closed half of their positions, and adjusted the remaining half to almost break even. Thus, it’s a risk-free trade with the potential for even more profit.

What Next?

Currently, IWM is in wave 3. Wave 3 should break above wave 1 with an impulse, targeting 223.85-228.19. However, we don’t expect the wave 3 rally to proceed in a straight line. There will be pullbacks along the way. The good thing is that these pullbacks can be trading opportunities on the hourly time frames. We update the H1 chart of the IWM three times a day, the H4 chart at the end of the day, and the Daily and Weekly charts on the weekend. We do this consistently for IWM and 77 other instruments.

Members receive hourly updates four times a day and can use our forecasts as guides for their trading strategies. On each chart, we indicate the trading direction to consider. In the live trading room, members have access to trade signals and trade management guides. Additionally, members can chat with our analysts 24 hours from Monday to Friday.

About Elliott Wave Forecast

ElliottWave-Forecast.com updates one-hour charts four times a day and four-hour charts once a day for all our 78 instruments. We conduct a daily live session where we guide our clients on the right side of the market. Additionally, we have a chat room where our moderators help with any questions about market developments.

Experience our service with a 14-day trial for only $9.99. Cancel anytime by contacting us at support@elliottwave-forecast.com.