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SLX 4-hour RSI dropped to 27. Do you dare to follow this bottom fishing?
$SLX /USDT - LONG
Trading plan:
Entry: 0.16433 – 0.16753
SL: 0.14592
TP1: 0.18094
TP2: 0.19094
TP3: 0.20595
Why pay attention to this structure?
- 1D trend is oscillating, but the 4-hour RSI is oversold at 27.33, building short-term rebound momentum.
- Current price 0.16593, close to the LONG entry range 0.16433-0.16753, with a clear risk-reward ratio.
- TP1 0.18094 (+9%), TP2 0.19094 (+15%), stop loss 0.14592 (-12%), risk-reward ratio approximately 1:1.3.
Discussion:
Will this wave hit TP2 first, or is it a bull trap?