OGDC is most probably in wave B or 5
Currently the price is forming a flag pattern as minor wave b or 2 which might continue to build this week. As per our preferred wave count we are only looking to buy OGDC once it breaks above the flag formation.
Last minor swing high is at 213.50 at the moment therefore we will enter at 213.60, however as the pattern might continue to build it can make new swing low and high therefore if the flag pattern stays intact then we will use the next minor swing high for entry accordingly.
Currently we are targeting 235 area, however if the pattern continues to build we will modify the target as well.
Alternately, if the prices go down and breaks the flag pattern this trade setup will get invalid
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.
Currently the price is forming a flag pattern as minor wave b or 2 which might continue to build this week. As per our preferred wave count we are only looking to buy OGDC once it breaks above the flag formation.
Last minor swing high is at 213.50 at the moment therefore we will enter at 213.60, however as the pattern might continue to build it can make new swing low and high therefore if the flag pattern stays intact then we will use the next minor swing high for entry accordingly.
Currently we are targeting 235 area, however if the pattern continues to build we will modify the target as well.
Alternately, if the prices go down and breaks the flag pattern this trade setup will get invalid
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.
交易進行
The blue trendline might provide resistance therefore we will close 50% positions once price touch it and with the remaining 50% we will target 235Entry price: 213.60
Stop Loss: 206.35
Targets:
T1: 220-223 (50%)
T2: 235 (50%)
註釋
Due to geopolitical events the price has not progressed as expected, let see if our stop loss gets taken out 交易結束：達到停損點
Stop triggeredEntry price: 213.60
Exit price: 206.35
Loss @ share: 7.25
Gross loss: 3.39%
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