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SLX bearish signals appear—are the main players setting up on the 4-hour timeframe?
$SLX /USDT - Short SHORT
Trading plan:
Entry: 0.11163 – 0.11305
SL: 0.11919
TP1: 0.10720
TP2: 0.10378
TP3: 0.09865
Why focus on this setup?
- RSI (15-minute) is only 39.7, and short-term momentum is weak, with bears in control.
- The 4-hour direction is clearly SHORT, with a stop-loss at 0.11919 and a reasonable risk-reward ratio.
- Current price is 0.11234, hovering near EMA resistance—this is an entry window.
Discussion:
Will this SLX move hit TP1 at 0.10720 first, or will it bounce and bait longs before dropping again? Which side are you on?