@rafaelken1989 17 September 2022

XLMUSD Targets Newly Formed Equal Highs

XLMUSD is trading in a new range since September 13 strong move down. I am looking at its newly formed equal highs thanks to Friday's good break-out move from the previous lower range consolidation. I think it will be the short-term bulls' immediate rally target. Just need to re-test $0.1050 sub-levels one last time as long covers on the double top rejection earlier, will be a good entry point. In case price breaks down below the blue line I've drawn, I put stop loss at $0.1029. Obvious immediate take profit target is a re-test on the newly formed equal highs. This trade plan scores a 1.667 RR. Original article written by me: https://www.finlogix.com/analysis/20220917/xlmusd-targets-newly-formed-equal-highs