DIVISLAB trade ideas
Divi's Lab has formed Rising Wedge pattern Divi Lab has progressively formed a Rising Wedge pattern on daily candlestick. Apex of rising wedge is at 1771. Rising wedge is a reversal pattern from bullish to bearish. Height at the base of rising wedge is 170pts. According to Bulkowski, rising wedge has culminated into bearish movement in 69% of cases and on average the fall has been 58% to 64%. Thus, minimum 100 points fall can be estimated
DIVISLAB Outside Bar TradeLong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.