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Everyone’s bullish on SLX — but the 4h chart just whispered a secret that could trap late buyers.
$SLX /USDT - SHORT
Trade Plan:
Entry: 0.17233 – 0.17569
SL: 0.19013
TP1: 0.16192
TP2: 0.15386
TP3: 0.14176
Why this setup?
Why now? RSI on 15m sits at 44.07 — still in bearish territory, not oversold. The 1h pivot at 0.17401 is acting as resistance, and ATR of 0.006718 confirms low volatility often precedes a breakdown. With a SHORT bias at 55% confidence and a 1D trend stuck in “range,” the path of least resistance is down toward TP1 at 0.16192.
Debate:
If 0.17401 holds as resistance, are you shorting SLX or waiting for a fakeout above 0.17569?