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Everyone is bullish on SLX – I’m watching the 4h short setup that most are missing.
$SLX /USDT - SHORT
Trade Plan:
Entry: 0.19787 – 0.20035
SL: 0.21097
TP1: 0.19021
TP2: 0.18428
TP3: 0.17538
Why this setup?
RSI 15m at 65.57 signals overbought exhaustion in a range-bound 1D trend. Entry around 0.19911 with tight SL at 0.21097 gives a 4.6% risk for a 7.5% drop to TP1 (0.19021). Why now? The 1h ATR of 0.0049 confirms low volatility – shorts thrive when the pump fades into resistance.
Debate:
Is this a fake breakout trap or the start of a 12% slide to TP3 (0.17538)?