I am following your blog for a while and really trying to learn from an experienced mature trader like you. What triggered you to take long position in WFR?
isitpossible,WFR is a TREND FOLLOWING trade based on a daily chart. By trend following, my method is to buy every time it clears and intermediate high which it did today.
On a weekly chart, we can see that stock broke the earlier high of 48.5 and now the stock is well in overbought (RSI) territory. I felt it will retest that level for support. At what level you put a stop loss on this one? or what is expected target?
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