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SLX 15-minute RSI drops to 30—buying the dip or a trap?
$SLX /USDT - Go LONG
Trading plan:
Entry: 0.12327 – 0.12483
SL: 0.11434
TP1: 0.13133
TP2: 0.13619
TP3: 0.14348
Why focus on this setup?
- RSI 15m is now 30.47; oversold conditions often suggest a short-term rebound
- 4h direction is clearly bullish, 1D trend is ranging, suitable for buying the dip
- Current price 0.12405 is close to the entry low 0.12327, with limited downside
- Target TP1 0.13133 (+5.8%), TP2 0.13619 (+9.8%)
Discussion:
Will this rebound reach TP1 first, or will it V-reverse directly to TP2?