bank nifty has formed bullish divergence on hourly chart.
Comment:
-One should always wait for confirmation before taking a trade on divergence.
-Safe traders can initiate Long trade when price closes above hourly candle/or when
their setup gives bullish sign.
-Here in this case, bullish divergence has not given a confirmed buy signal.
-Here, price has also broken a trendline support. So, one should be extra cautious.
Trade closed: target reached
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-Safe traders can initiate Long trade when price closes above hourly candle/or when
their setup gives bullish sign.
-Here in this case, bullish divergence has not given a confirmed buy signal.
-Here, price has also broken a trendline support. So, one should be extra cautious.