CDozen

WFT Fib Retracement with Stop Loss

NYSE:WFT   WEATHERFORD INTERNATIONAL PLC (IRELAND)
29 1 0
Fib trend from 3.7 (100%) to 2.99 (0%). I'm expecting the 2.64 (-50%) support to hold. Just in case I have a stop loss just under the support line at 2.62. I don't expect high returns because of the downtrend from the beginning of this year. If the support does hold I would see it rise to 2.72 (-38.2%), but fall shortly after to continue the downward trend.

I have no idea what I'm doing and this is all for fun, good trading.
Sold at 2.73 (-37%) for 8% gain I had my doubts on this trade. I'm glad it worked.
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