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Long

SBI: The Divergent Trade

NSE:SBIN   STATE BK OF INDIA
Notes on the chart.

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Comment:
Alright, there is divergence as we can observe. But we dun know where the downwave would end.
There are three types of entries which one can try:

Assume that the price has made a double bottom on 15 min chart-->
1) Break above the trendline
2) Break above the swing high 335.90

Assume price goes down from here-->
For this trade, I personally dun like the price to go down below 331.
3) seller failure setup (difficult one to take).
Comment: I am in @ 332.50; Sl is below 330.
Trade closed: stop reached
expected divergence just happened. Watchout
Reply
Bravetotrade saranathanr
@saranathanr, In which time frame you observed that?
Reply
saranathanr Bravetotrade
@Bravetotrade, 30 mins
Reply
Bravetotrade saranathanr
@saranathanr, divergence appeared in the last hour only.
Reply
would u mind posting when the trade is active , just for understanding....
Reply
Bravetotrade Parasuram
@Parasuram, I deliberately leave it on the traders or else they ll just start blindly following without any learning. For your convenience I suggest two things: either 1) use a one bar or multi bar setup or 2) a higher swing high setup.

Its not necessary that we get a perfect entry but we may get an optimal one. Focusing on the structure is more useful than focusing on perfect entry.
Reply
Parasuram Bravetotrade
@Bravetotrade, perfect! thanks
Reply
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