Sell Setup Triggers in EEM

We had a sell setup in EEM when it finally rallied into some "symmetry" resistance.  This is where the recent rally was similar to some of the prior rallies within the larger downtrend.  

Note that the prior swing was $4.44 and the recent swing ended up being very similar at $4.47.  A sell trigger fired off after failing to clear the 53.55-79 area.  

So far we've seen a decline of $2.33.  At this point I would just trail a stop down  especially as we move into any key support on the way down.  I'm going to watch this support for a possible resumption of the rally somewhere above the 8/20 low.

Carolyn Boroden, who is renowned for her expertise in Fibonacci price and timing analysis, hosts the Fibonacci Market Analysis service at ElliottWaveTrader.