Simple Trade Setup|KOTAKBANK|25-08-2021|Bullish Divergence?(2)

Updated

Observations:
1) On 15 min time frame it has been making lower lows in price chart but on RSI it is making higher lows. Which can work as regular bullish divergence.

Please refer below chart.

2) On 1 hour time frame it has been making higher lows in price chart buy on RSI it is making lower lows. Which can work as hidden bullish divergence.

Please refer Chart below: 1 hour time frame.

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Trade Setup for Date 25-08-2021:

1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.

2) If it opens flat and goes down then pay attention to RSI if RSI takes support from this trendline then it will be buy trade signal coming but buy trade entry will start only on breakout of 1710 level.

3) Also use 1hour chart in the meantime to check and judge RSI. I will try if I can post update during live market in the comment section to update you.

4) Everything is mentioned on the chart. I hope it is easy to understand.

5) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tommorrow.

Please refer below chart for levels.

Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Trade active

Good to buy once it breaks 1710 and closed above it.

Trade active

Trade closed: target reached

Trading_hawk

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