This $VELVET short play paid off quite cleanly. Honestly, when it faced resistance at the high during the session, I wasn't in a rush to chase. Many people see a surge and want to go long, but I've taken losses in that kind of position before — the more crowded it gets, the more you need to watch the selling pressure. Earlier, I had already noticed the repeated rejections above VELVET; what actually got me to act was when the rally failed to follow through.

From 1.66025 down to 0.40103, there were several bounces in between — the kind that make you doubt yourself most easily. The key was that those bounces didn't establish a new rhythm; instead, they wore down the patience of short-term longs. To put it bluntly, I wasn't trying to pick a top — I waited until it showed its own exhaustion.

Now with +753.07% on the books, I have no intention of getting greedy. I'll close it out in an 80/20 split, lock in the profits that need protecting first, and trail the stop downward. The biggest danger when making money on a short is getting excited — once you get excited, you tend to give back the rhythm you've earned.

The lesson this time around is still the old saying: don't chase what you miss; once you're in, keep your hands in check, and wait for the next clearer opportunity.

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