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$SLX | 1h | Short Rejection
Bias: Short
Entry Zone: 0.5480 to 0.5600
Stop Loss: 0.5860
Targets:
TP1: 0.5160
TP2: 0.4850
TP3: 0.4550
Invalidation:
Close above 0.5860
Why This Setup:
I’m seeing price reject the 0.56 area after a strong impulse and sharp pullback, which keeps the short-term structure vulnerable to a deeper retracement. The current range has failed to reclaim the recent highs cleanly, so I’m fading strength into resistance with room back toward the prior support shelf.