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.
Trade attivo
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 Trade chiuso: obiettivo raggiunto
Overall performance -Entry price: 283.50
Exit price: 257
Profit @ share: 26.50
Gross profit: 9.35%
Nota
Price has reached the buy zone level, however we are not buying at the moment because the overall market has started correcting as anticipated.
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.