$SLX is preparing to open a short position, and will continue to watch downward along the waterfall. At the same time, $BANK and $US are also watching for a potential pullback.

The entry area is roughly around 0.1173 to 0.1203. The first target to watch is 0.11212; if it continues lower, watch 0.10678. Although it’s still a momentum short, the RSI is already severely oversold, and a violent short-squeeze reversal could happen at any moment.

So make sure the stop-loss is set correctly—place it at 0.12511. Never go all-in and YOLO; manage your position size according to your account, and watch the risks.