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Everyone’s chasing SLX longs—but the 4h MTF just flipped SHORT with 55% conviction.
$SLX /USDT - SHORT
Trade Plan:
Entry: 0.174 – 0.178
SL: 0.195
TP1: 0.162
TP2: 0.152
TP3: 0.138
Why this setup?
• RSI at 64 on 15m is overextended in a range-bound 1D trend—perfect rejection zone.
• Entry ref at 0.176 with tight SL at 0.195 gives a 2.5:1 risk-to-reward to TP1 at 0.162.
• Why now? The 1h ATR (0.0079) is low, meaning a squeeze is due—and the data favors the downside.
Debate:
Are you shorting the bounce at 0.176 or waiting for a fakeout above 0.178?