Bearish ADL Divergence is when the ADL is trending downwards while price is on the rise. In this instance, ADL is signaling an increase in selling pressure (Distribution), and price took a downwards turn.
Formed a pennant pattern and observed the break to the upside. Measured move nearly fulfilled, my entry price was 1.01.
Previous ATH at 1.185 was taken out easily with high volume and confirmed with an uptrend on the ADL. It is now in a low volume profile region which could make the price action more choppy in the near term.
Trade closed manually:
Taking profits, RSI is over extended now and price level is well above my measured moved from the triangle breakout.
60% profit on this trade.
60% profit on this trade.
This would be an ideal time to use a trailing stop loss.