$$CLO surged 33% to 0.2346, my short position lost 8%, and now chasing long is just asking for death.

Real-time data: price 0.2346, 24h trading volume 24.9M, volume has surged 40% compared to early morning, but the high point at 0.2362 was pressed down by three long upper shadows. This rally started from 0.1657, with no decent pullback — those who understand know that this kind of vertical surge is most likely to trigger a double kill of longs and shorts.
My position: - current price 0.2346, light short position 0.3% total position - stop loss set at 0.2380 (0.2% above the previous high of 0.2362 after a breakout) - target at 0.2150 (the lower boundary of the 24h trading volume cluster) - add to short plan: if it falls below 0.2250, add 0.2% short, move stop loss down to 0.2320.
Preliminary judgment of two scenarios: 1. If 0.2362 is tested again and breaks out with increased volume (volume must be twice the average of the previous 30 minutes), I will immediately close the short and switch to long at 0.2450, with a stop loss at 0.2300. This kind of breakout is genuine, a real signal that the market maker’s shakeout has ended. 2. If it cannot stabilize above 0.2350 tonight, all those chasing longs will be trapped at the top. 0.2150 is a short-term fragile equilibrium point; breaking below it will trigger a waterfall.
I guess you’re more concerned about why I shorted. The simple reason: a 33% daily increase is typical of small-cap coins used to pump and dump. The market maker built a position at 0.1657, then pushed it up to 0.25-0.28 to perfectly exit. CLO’s liquidity is only 24.9M, not enough to sustain continuous rise.
Pay attention to my stop loss position — less than 0.5% above entry, very strict risk control. Don’t forget I also hold spot holdings in my wallet; the short is just a hedge. I don’t recommend anyone blindly follow, but you can observe tonight’s closing price at 10 PM.
Update the results in the comment section.