What does an SLX short setup and RSI breaking below 44 imply?



$SLX /USDT - SHORT

Trading plan:
Entry: 0.10571 – 0.10677
SL: 0.11130
TP1: 0.10245
TP2: 0.09992
TP3: 0.09613

Why focus on this structure?
- On the 4H timeframe, it’s bearish; the 15-minute RSI has already slid to 43.94, with insufficient momentum.
- Around 0.10624 is a key level on the 1H; if it moves down, TP1 is 0.10245, then TP2 is 0.09992.
- The 1D trend is ranging, but short-term bearish signals are clear, making it suitable for a light position following the trend.
- Why now? RSI isn’t oversold, so downside room still exists, and the stop loss at 0.11130 is manageable.

Discussion:
Will this SLX move hit TP2 first, or will it do a fake breakdown and bounce? Where would you enter?
SLX-6.08%
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