Opened long as: 1) energies (the weakest sector during the day) did strongly spike; 2) Nasdaq Composite futures posted new session high and 3) internals were in favor: only 2 $ticks below -800 at the moment of the trade entry w/ some 18 $ticks above +800. Fixed soon on the reasons: 1) energies (the cestor, that became one of the leading drivers of the recent leg higher) slided sharply, plus 2) there was no $tick confirmation of the ES fresh year high. But the market did continue to climb higher.
Overall, this trade is very similar w/ the position back to beginning of the current mouth. On 11th march, when ES also did struggle to make new year high, within few minutes before spike higher I have entered long position. Soon I have fixed the trade also on not so cool reasons and the market, again also, did continue to trend higher. The conclusion from that two similar patterns is not to focus on internals data when ES do breaking some principal levels. In response to particular market environment, when bulls and likewise bears do manage to break some very important level, that fact do prove that the momentum is enough strong not to care about internals data.
All at all, 7 minutes and plus almost three and a half percent. Grool!
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