Simple Trade Setup|KOTAKBANK|24-08-2021|Bullish Divergence?

23 באוג׳ 2021

KOTAKBANK

Observations:
1) On 1 hour time frame we can see it made higher low, while RSI made lower low. This can be act as hidden bullish divergence.

Please refer Chart below: 1 hour time frame.


2) On 15min Time frame, we can see it made almost flat lows in price action, while RSI is making higher lows. This can be act as Exagerrated Bullish Divergence.

Please refer Chart below: 15 min time frame.



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Trade Setup for Date 24-08-2021:


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

Please refer below chart for levels.


Hope I made it easy to understand it.

Do comment your doubt or suggestion.