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anaida_sultana
Aug 30, 2021 6:57 AM

#WOCKPHARMA: Positive Divergence Strategy for Swing Trading Long

NSE:WOCKPHARMA60
WOCKHARDTNSE

Description

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As per the chart, there's a clear positive divergence on the hourly time frame.

On the daily time frame, the prices are at a crucial support zone with a bullish harami candlestick pattern hinting at a bullish reversal.

Prices have also breached the trend line confirming the entry signal on the hourly chart.

You can consider adding a fresh long position here with a SL of 393.5, and a first target at 428.5 level.
Beyond Technical AnalysisTrend AnalysisSupport and ResistanceDivergencepositivedivergenceswingtradinglongsetup
Comments
depanjaldas
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nice one.
Paritoshlal
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RRR of 1:1 in Swing trading is commendable :)
anaida_sultana
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@Paritoshlal, Trading divergence essentially means trading reversal which always the riskiest position. Booking some profit off the table and trailing SL is what I do.

Idk where y'all Mark Minervinis come from 😂 acting like y'all know everything. Relax LMAO.
Paritoshlal
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@anaida_sultana, Good luck with that attitude 🙂
anaida_sultana
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Sure, Lord_ozb 😂
lord_ozb
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The trendline doesn't seem to be correct.
This is not bullish divergence.
anaida_sultana
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@lord_ozb, How do you define bullish divergence?
lord_ozb
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@anaida_sultana, RSI(14), it takes consideration of the previous 14 candles. The previous Lower low was around 30 candles before. Wait for it to make another lower low and see if RSI makes a higher low.
Wait for at least 3 higher lows before considering it an RSI divergence otherwise all stocks would start showing RSI divergence :D
anaida_sultana
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@lord_ozb, Thank you for the insights. I hope you know that there's more than one way to be right in the stock market. Good luck!
lord_ozb
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@anaida_sultana, 😂😂😂
Good luck 😂
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