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This $VELVET short, to be honest, wasn't about having the guts to hold on. VELVET's high price was stuck and couldn't move down earlier. The more everyone shouted about a rebound, the more I dared not chase the long. This kind of level is the easiest to get carried away.
Actually, I had noticed this level earlier. After opening a long near 1.66025, what concerned me most was not how fast it fell, but that each bounce failed to hold. The real change was here: the bounces became weaker, and sharp spikes seemed just to give the shorts a breather.
From 1.66025 to 0.4286, this wave returned +736.62%, which was the answer during the session. There were a few times I wanted to exit early, afraid of profit retracement, but experience taught me that when the decline is flowing smoothly, moving around recklessly is more harmful than not holding.
Now the handling is simple: first move down the stop loss, don't let the rhythm we've got be disrupted by a bounce. Don't chase what was missed; just wait for the next decent signal.
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