OGDC PROBABLY IN WAVE ' 5 ' - LONGThis is in continuation to our ongoing tracking of OGDC wave structure.
If our wave count is correct then prices will take support from the 257-250 levels and will target the upside level of 279 - 290. Our wave count suggest that prices might even go above 300+ but that depends on how strong the bullish move is.
Alternately, if price goes below the 231.55 level this trade setup will become void. Once price breaks below this level it will target 175 area and below.
The issue with this trade setup is Risk/Reward ratio, as the entry point of 257 is not offering a nice R/R ratio, whereas entry point at 251 will give a better R/R ratio.
Trade Setup:
Entry level: 251
Stop loss: 231.54
Targets:
T1: 279
T2: 290
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.
