SLX short positions set up, 15-minute RSI drops to 25—buy the dip or escape the top?



$SLX /USDT - SHORT

Trading plan:
Entry: 0.1607 – 0.1627
SL: 0.1710
TP1: 0.1547
TP2: 0.1501
TP3: 0.1431

Why pay attention to this structure?
- 1D trend is ranging, bulls are struggling to break through, and 4H confirms the bearish direction.
- 15-minute RSI = 25.14, extremely oversold, but any near-term rebound may just be a bull trap.
- Current price is 0.1617, near EMA support. If it breaks below 0.1607, it could accelerate down to TP1 0.1547.
- Why now? After an oversold rebound, price is likely to keep trending lower, and the short entry point is at 0.1617–0.1627.

Discussion:
Will this move hit TP1 0.1547 first, or will it go straight with a wick to TP2 0.1501? See you in the comments.
SLX-11.02%
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