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Is SLX’s rebound a trap or a real breakout?
$SLX /USDT - Short SHORT
Trading plan:
Entry: 0.1266 – 0.1284
SL: 0.1360
TP1: 0.1211
TP2: 0.1168
TP3: 0.1104
Why watch this structure?
- A 4-hour bearish signal has appeared, but 15-minute RSI at 65.3 shows short-term overbought, which may trigger a pullback.
- Key level 0.1275: if it breaks down, TP1 at 0.1211 is the target; if it holds above, it could be a fake-out first.
- Why now? 15-minute RSI is high + the 1-day trend is ranging, so the bearish entry point is safer.
Discussion:
Will this move hit TP1 at 0.1275 first, or will it tap SL before reversing?