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I was planning to call it a day and rest after the close, but unexpectedly this intraday plunge turned the previous waiting into an immediate execution.
When the price kept churning and oscillating during the session, $CYS looked pretty lively, but every time it surged upward there wasn’t sustained buy-side demand. Once the price hit a key level, it pulled back. At the time, I didn’t try to guess the bottom, and I didn’t chase and shout. After the rebound showed signs of weakening and confirmation, I went long around 0.5173.
Afterwards, the price moved to 0.2955, and the profit showed +844.23%—this time the timing was right. The longer it chops at high levels, the less it means you’re necessarily safer; the key is still who’s taking bids and who’s pressing.
First, close 80% of the short position. Protect the remaining 20% at the cost price. If it keeps dropping further, let the profit extend. If there’s a rebound, only keep the positions that are controllable—don’t be greedy for that last bite.
Even if you only make 1%, as long as you can take it away, that’s yours. Even if the floating profit is higher, it’s only temporarily given by the chart. Don’t force it if you miss this leg—wait for the next move when the structure is clear.
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