Divergence is good as a leading indicator and as BM mentioned can serve as a timing indicator. Meaning, it's good as an early warning, but not necessarily an isolated absolute entry signal. You can use other signals, even so called lagging indicators from other methods in combination for an entry.
For example, the short intra-retracement reversal divergence in your chart also coincided with a bounce off the dashed MA which adds extra confirmation. And having had experience with price action, one would get the feeling that the first reversal breakout of a trend (in this case the overall downtrend from the left) would have a high enough probability of having a breakout pullback i.e. it could likely reverse it's retracement. In this case the short divergence was an excellent warning that price could more likely become a breakout pullback instead of a two legged breakthrough trend long causing a "v" reversal of the downtrend.
As for the longer, extended divergence as Monpere put it, one used to trading countertrend off a bollinger band bounce could still trade it long even if just for a small scalp. Brooks would count it as a breakout pullback or the second leg or H2 long of a breakout pullback. In general a divergence signalling a reversal most often corresponds with a price action breakout pullback , and also a bollinger band bounce with target back to an MA, all representative of a reversal or countertrend type of trade.