XLV has formed a five-week equilibrium. The price contraction is already quite tight, indicating that this equilibrium could break very soon. The context is highly bullish: the XLV price is on a weekly uptrend, and the broader market is also showing strong performance. The odds are in favor of an upside breakout.On the chart, there is an example of a possible trade. Please note that while I’m not a fan of diagonal levels, I’ve drawn the triangle solely to illustrate the idea of equilibrium
Disclaimer
I don't give trading or investing advice, just sharing my thoughts.
Note
I'm taking 50% of profit at 146.6 on pre-market strength and moving my stop-loss to 144.95.Now, I'm conviently at break-evenNote
Taking another 25%Trade closed manually
Closed rest at 146.8
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.