This short position has been realized, $VELVET pressed from 1.66025 all the way down to 0.50719. I first took profits on 80% of the account, and that intraday plunge was really decisive.

Just now, many people were still waiting for a pullback to go long, but I felt something was off. The resistance at highs was too obvious, the rebound had no volume, and every time it was pulled up, it got smashed down, indicating that the selling pressure above hasn't eased.

It has clearly weakened here.

Now I'm handling it in an 80-20 split batch: first take the main position, leave the rest for the trend to extend, and move the stop-loss down accordingly. If you missed this move, don't chase it. After the short position is realized, forcing a chase can easily get you washed out by a pullback. Wait for the next structure.

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