This short position finally paid off. From the moment $EWY came under pressure at the high, the order book stopped behaving like a normal rally. A lot of people are still waiting for it to push higher again. But what I was watching wasn’t whether it would go up—it was whether the pullback after each upward push had enough follow-through.

The key is right here: the price dropped from 198.58 to 177.76. This decline isn’t just a one-candle issue. The structure has been weakening continuously—pullbacks are getting more and more feeble, while sell pressure is getting clearer and clearer. The short’s return is already +257.46%, and the market’s room has been released very directly.

I had already paid attention to this level earlier. What truly confirmed it for me was that the rebound couldn’t get up and kept getting pushed back down. Brothers with larger positions—don’t let profit rush you. Handling it with an 80/20 staged approach feels more comfortable: take some profits off first, and then keep the rest with your protection level in place while you continue to watch for extension.

If you haven’t entered, don’t rush to chase. After this kind of downside move has been realized, it’s even more likely to sweep back and forth. Don’t chase entries—neither longs nor shorts. Wait for the next more comfortable position to make your move.

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