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hermes_trisme

XLV is in tight equilibrium; will break soon

Long
SPDR Select Sector Fund - Health Care (BATS:XLV)  
hermes_trisme Updated   
BATS:XLV   SPDR Select Sector Fund - Health Care
Chart Patterns Trend Analysis Triangle equilibrium contractingtriangle trianglebreak healthcare
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chartpattern trendanalysis triangle equilibrium contractingtriangle trianglebreak healthcare
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.
Comment:
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-even
Comment:
Taking another 25%
Trade closed manually:
Closed rest at 146.8
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