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I don't want to chase that pump at all. $MYX looks strong, but the absorption at highs is actually very weak. The higher it goes, the more it feels like setting up shorts. Now that it's dropped, the answer is clear.
Short position opened at 0.1975, now at 0.069, current profit +1281.08%. Many people were only looking at the breakout. I watched the pause after the breakout — the price surged but couldn't hold, buying didn't continue to follow, and it started to get pushed back. That's when it was already off.
At times like this, it's not about who shouts the loudest, but who dares to execute the plan. Now the trend extension is obvious, profits have been released. For large positions, you can handle 80/20 in batches first, keep a trailing stop for the rest, and don't let the pullback ruin the rhythm.
I care more about trade quality. I don't need to eat every move. After taking profits on the drop, first get the initiative back. If you missed it, don't chase. Don't chase. Wait for the next opportunity, wait for a more comfortable entry.
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