Is SLX’s 4-hour timeframe brewing a short trap?



$SLX /USDT - SHORT

Trading plan:
Entry: 0.10834 – 0.10940
SL: 0.11400
TP1: 0.10503
TP2: 0.10246
TP3: 0.09862

Why pay attention to this structure?
- RSI on 15 minutes is 51.65, neutral-to-weak, but the 1-hour EMA hasn’t issued a strong signal.
- The 4-hour direction is clearly SHORT, but the trend is ranging, indicating this isn’t a one-way market.
- The entry at 0.10887, TP1 at 0.10503 (-3.5%), TP2 at 0.10246 (-5.9%), stop loss at 0.11400 (+4.7%), with a risk-reward ratio of about 1.3:1.
- Why now? RSI isn’t overbought; within the range, there’s room for a short, but be wary of a false breakout.

Discussion:
Will this first reach TP2, or will it fake an upside move and bounce to 0.112?
SLX-6.88%
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