$SLX has retraced into a significant supply zone where sellers may step back in and regain control, presenting a high-probability short opportunity if resistance holds.
Trading Plan – Short $SLX
Entry: 0.540 – 0.560
SL: 0.590
TP1: 0.510
TP2: 0.485
TP3: 0.460
Price has recovered into a key resistance area that has previously attracted strong selling pressure. Despite the recent bounce, the overall move still appears corrective within the broader bearish structure, while liquidity continues to build below the latest swing lows.
A rejection from this supply zone could trigger the next wave of downside momentum, with price potentially rotating toward the outlined take-profit levels. Stay patient, manage your risk, and wait for confirmation before entering.
DYOR (Do Your Own Research).
Trading Plan – Short $SLX
Entry: 0.540 – 0.560
SL: 0.590
TP1: 0.510
TP2: 0.485
TP3: 0.460
Price has recovered into a key resistance area that has previously attracted strong selling pressure. Despite the recent bounce, the overall move still appears corrective within the broader bearish structure, while liquidity continues to build below the latest swing lows.
A rejection from this supply zone could trigger the next wave of downside momentum, with price potentially rotating toward the outlined take-profit levels. Stay patient, manage your risk, and wait for confirmation before entering.
DYOR (Do Your Own Research).