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SLX, this drop—are you brave enough to follow?
$SLX /USDT — SHORT
Trading plan:
Entry: 0.17624 – 0.17954
SL: 0.19372
TP1: 0.16602
TP2: 0.15810
TP3: 0.14622
Why watch this setup?
- The 4-hour timeframe signal clearly points to SHORT. RSI on the 15m is 50.22, not oversold, and there’s still room for downside.
- The 1-day trend is ranging. The current price, 0.17789, is near the upper edge of the range, which suits entering a short.
- Reference TP1 at 0.16602 has a reasonable risk-reward ratio, with the stop loss set at 0.19372.
- Why now? The top of the range overlaps with hourly resistance, and bearish momentum is building up.
Discussion:
Will this reach TP1 first, or will it bounce and hit the stop loss? Share your thoughts.