SLX’s 4-hour chart— is it brewing a SHORT trap?



$SLX /USDT - SHORT

Trading plan:
Entry: 0.10897 – 0.11007
SL: 0.11483
TP1: 0.10554
TP2: 0.10289
TP3: 0.09891

Why focus on this structure?
Current price is around 0.10952; the 15-minute RSI is 59, indicating a short-term rebound but not overheated. The 1D trend is ranging, and on the 4-hour timeframe the bias is bearish, with 55.4% confidence. The entry zone is 0.10897-0.11007, TP1 is at 0.10554, and TP2 is at 0.10289. Why now? RSI hasn’t reached overbought conditions, the rebound room is limited, the short setup is complete, and it’s waiting for a breakdown confirmation.

Discussion:
Will this bearish move first sweep TP2, or will it bait longs and then rebound?
SLX-1.41%
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