I’m fairly satisfied with this short position today—not because it dumped hard, but because the weakening process of $IRYS from the high level was very clear, giving enough confirmation.

I was watching the entry at 0.04832. After the failed bounce here, the chart started to turn weaker in a continuous way, and the key levels were pushed lower and lower. A lot of people are still waiting for a strong bullish candle to save the day, but to put it bluntly, the rhythm has changed. Places that previously could be pulled back from clearly can’t be pushed back this time.

Now the price is at 0.0126, and the return is +1455.14%. The market’s upside/downside room has been released. The biggest fear in trading is: even when the structure is already broken, still using hope to hold on. A short can take a move like this because it wasn’t scared out by a short-term counter-bounce.

There’s no need to get excited right now. After the profit is out, think first about how to protect it. If your position size is large, you can take profit on most of it first; keep a smaller remainder with a protective level and follow it. Don’t let the gains you’ve got get wiped out by back-and-forth whipsaws. If you didn’t get in, don’t rush—don’t chase shorts. Wait for the next, more comfortable level.

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