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SLX 4-hour short squeeze trap—who’s going to get stuck holding the bag?
$SLX /USDT - go short SHORT
Trading plan:
Entry: 0.16024 – 0.16206
SL: 0.16992
TP1: 0.15457
TP2: 0.15019
TP3: 0.14362
Why pay attention to this setup?
- Intraday trend is ranging, but the 1-hour EMA suppression is clear. The 15-minute RSI has already fallen to 31.89—oversold, but not yet reversed.
- Reference the short target TP1 at 0.15457. Enter around the current 0.16115 area, set stop-loss at 0.16992, with a risk-reward ratio of about 2:1.
- Why now? The end of a range often comes with a false breakout—shorting the pullback window.
Discussion:
Will this drop reach TP1 first, or is it a bull trap and rebound?