At this position of SLX, the shorts are watching your stop-loss order.

$SLX /USDT - go short SHORT

Trade plan:
Entry: 0.10985 – 0.11113
SL: 0.11663
TP1: 0.10588
TP2: 0.10281
TP3: 0.09821

Why pay attention to this structure?
On the 4H timeframe, the trend is still ranging, but the 1H pivot has already broken 0.11046. The RSI on 15M is only 36.96, and the bearish momentum has not exhausted yet. With the current entry at 0.11049, TP2 at 0.10281, the risk-to-reward ratio is about 1:3, and the SL is set at 0.11663, right above the EMA. Why now? Because once the lower bound of the ranging range is broken, an acceleration in the selloff often happens in the very next candle.

Discussion:
Do you think this move will first hit TP2, or will the EMA pull it back to bait longs?