The long position was opened on the reasons of: 1) $add posted higher high; 2) energies (the weakest sector during the whole session at that moment) also made higher high and looked better then the market during last half an hour. Jumping ahead of itself, the trade exit was not the best ever. The position was fixed by the take profit order placed before I have left trading screen for a while near yesterdays session morning high.
Not so cool was also an entry. Today was obviously the repeat of the patterns seen on 17th & 19th february sessions. In all three examples, including todays, bearish divergence showed up on the ES chart. And no matter $tick confirmation, it did realize. But in the same time when ES do post bearish divergence, $add looks better then the market and is trending higher. In 2 out of 3 occasion when divergence higher high was equal w/ previous high, $add unlike ES, did posted fresh interim high.
And in all in 3 occasions $add bullishness was forerunner of the future market move to the upside, after pullback caused by ES bearish divergence. So in the future I should take into account such divergence w/ $add and the market performance pattern.
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