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SLX short signal is out—are you brave enough to follow it?
$SLX /USDT - SHORT
Trading plan:
Entry: 0.11798 – 0.11952
SL: 0.12618
TP1: 0.11318
TP2: 0.10946
TP3: 0.10389
Why focus on this structure?
On the 4-hour timeframe, the direction is clearly SHORT. The 1-hour EMA resistance is at 0.11875. The current 15-minute RSI is only 50.27 and hasn’t reached oversold yet. TP1 targets 0.11318, TP2 targets 0.10946, and the stop loss is 0.12618, with a risk-reward ratio close to 3:1. Why now? Price is chopping near the top of the range as the shorts build momentum.
Discussion:
Will this move first poke TP1 with a bounce, or will it directly dump to TP2?