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Bravetotrade
Nov 18, 2017 6:06 AM

SBI: The Divergent Trade Long

STATE BK OF INDIANSE

Description

Notes on the chart.

Trade safe, stay healthy.
Do hit the like button as a token of appreciation.
Enjoy the weekend.

Regards
Bravetotrade

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

Comments
saranathanr
expected divergence just happened. Watchout
Bravetotrade
@saranathanr, In which time frame you observed that?
saranathanr
@Bravetotrade, 30 mins
Bravetotrade
@saranathanr, divergence appeared in the last hour only.
Parasuram
would u mind posting when the trade is active , just for understanding....
Bravetotrade
@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.
Parasuram
@Bravetotrade, perfect! thanks
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