This is in continuation to our ongoing tracking of OGDC wave structure.
If our wave count is correct then the 5th wave is almost over and a downtrend will start taking price toward 257- 245 level as wave 4 and further down if this turns out as wave C
Alternately, if price goes above the 291 level it will make the 5th wave extend which will take prices toward 305 - 310 level
We are anticipating bearish long term trend in OGDC therefore we have taken this trade as the risk/reward ratio is also nice.
Trade Setup:
Entry level: 280
Stop loss: 291
Targets:
T1: 255
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
If our wave count is correct then the 5th wave is almost over and a downtrend will start taking price toward 257- 245 level as wave 4 and further down if this turns out as wave C
Alternately, if price goes above the 291 level it will make the 5th wave extend which will take prices toward 305 - 310 level
We are anticipating bearish long term trend in OGDC therefore we have taken this trade as the risk/reward ratio is also nice.
Trade Setup:
Entry level: 280
Stop loss: 291
Targets:
T1: 255
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
Operación activa
Trade Setup:Entry level: 283.50
Stop loss: 291
Target: 255
Nota
Note: Stop loss is based on regular market price not futuresNota
Price is moving down nicely, let's see if price will break below 267 todayNota
Target modified to 257Nota
Price is moving down nicely, we might see a little bounce from 267 level but the overall trajectory is down 
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La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.