SLX on the 4-hour timeframe: the short signal is already armed, but confidence is only 55%?



$SLX /USDT - SHORT to sell

Trading plan:
Entry: 0.10539 – 0.10657
SL: 0.11167
TP1: 0.10171
TP2: 0.09887
TP3: 0.09460

Why focus on this setup?
- Current price 0.10598 is hugging the 1-hour EMA, and RSI (15m) is only 33.94—short-term oversold.
- Why not chase a short? Because the 1D trend is ranging; ATR is only 0.002371, volatility is low, and fake breakouts are common.
- Now the entry: there’s potential for a rebound to 0.11025 in the LONG direction, but in the SHORT direction TP1 at 0.10171 fits the ranging-down logic better.

Discussion:
Is this move first a bounce to lure longs before dropping, or does it break down directly to 0.10171?
SLX-4.52%
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