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Everyone’s chasing SLX’s breakout—I’m watching the 4h chart for a trap.
$SLX /USDT - SHORT
Trade Plan:
Entry: 0.19738 – 0.20123
SL: 0.22333
TP1: 0.18129
TP2: 0.16928
TP3: 0.15126
Why this setup?
RSI on 15m is 67 (overbought squeeze), while 1D trend is range. The 4h frame shows a SHORT bias with 77% confidence. Entry at 0.19931, TP1 at 0.18129—that’s a 9% drop before any bounce. The ATR on 1h is tight (0.0077), meaning momentum is faking higher.
Debate:
Are we dumping to TP1 or is this a fakeout before a long squeeze?