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When I looked at $SNDK this morning, my first reaction wasn't to short it immediately, but rather that it was struggling to go higher. Not being able to rise doesn't necessarily mean it will drop right away, but every time it gets pushed back from the highs, it shows that the bulls are already feeling uncomfortable.
This SNDK opportunity didn't appear out of nowhere. Several intraday bounces failed to sustain momentum. The real change came after one failed rally, when the pullback speed noticeably accelerated. I entered a short around 2095.20, not with a heavy position, letting the market first prove I wasn't wrong.
From 2095.20 to 1780.51, this leg played out, yielding a return of +727.95%. I didn't use a rigid 80/20 phased approach; rather, I focused on the rhythm, first placing my stop-loss at a comfortable level to avoid having my mindset disrupted by a retracement.
Profits from such a decline can easily make one arrogant, feeling like you've seen through the market. In reality, you haven't. The market is always changing. My thinking now is very clear: first, protect the profits. If no new signal emerges later, I won't chase.
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