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Everyone is bullish on SLX, but the 4h chart is screaming SHORT.
$SLX /USDT - SHORT
Trade Plan:
Entry: 0.20803 – 0.21133
SL: 0.22552
TP1: 0.19780
TP2: 0.18987
TP3: 0.17799
Why this setup?
RSI on the 15m is overheated at 64.08, and the 1D trend is stuck in a range. With a 55.4% confidence on the short bias and entry at 0.20968, the downside targets (TP1: 0.19780, TP2: 0.18987) offer a 5-9% drop. Why now? The ATR shows tight volatility—breakouts are imminent.
Debate:
Do you trust the range or the RSI exhaustion for SLX?