This short position feels quite good. When $MYX dropped from its high, many were still waiting for a rebound, but I felt something was off.

Opened a short around 0.1975, not trying to show off, just saw that its upward momentum was weak and support was loosening.

Now the price has reached 0.081, with gains at +1161.45%.

To put it bluntly, too many people were calling it strong before, but the chart kept failing to deliver a decent continuation. This kind of divergence is the easiest to trap people.

I have already taken profit on 80% of the position, and am holding the remaining 20% to see if it extends further.

The stop-loss has been moved down accordingly; once profits are in hand, there's no need to stubbornly hold on.

This drop didn't come out of nowhere; there were signs beforehand, but at the time many were unwilling to acknowledge the weakness.

If you missed it, don't chase the short; the move has already played out.

Next time, wait for the structure to present another opportunity; pulling the trigger then will be more stable.

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