The recent rally of IRYS shows a very regular bullish rhythm, and the trend is quite strong. Some people have stopped out here, but based on the current movement, a bearish pattern has not truly formed yet.

My advice is: don't rush to catch the top and short. Many people have suffered losses because of this—frequently stopping out or having to hold through the position. The problem is, as long as the bullish trend hasn't been broken for a day, short positions entered prematurely are very likely to become cannon fodder for the bulls.

Instead of risking it by trying to bottom-fish or catch the top, it's better to wait until the bearish pattern is fully established before taking action. When the buy-sell reversal signals appear, the opportunity will naturally come. Acting at that time will give you better odds.