I think a good defensive strategy is to cut losses when getting out of the support area. Therefore, if we continue to maintain losses, it could be that our emotions are not maintained and later can panic sell at bigger losses. As traders, of course, we must be able to keep our capital safe, because there are still many opportunities later
A strategy in defensive manner but beyond stoploss levels? I understand that you are suggesting to keep holding until getting out of support levels which means even stoploss levels fall before that then we need to wait more? I guess it would be too dangerous for our capital. Personally I will not prefer it.
I am always too conscious to go for stoploss so that I will keep my capital ready for next opportunity rather than waiting for markets to bounce back. This is the reason, I guess your way of defensive strategy is not coming under my risk management principles.
Stop loss is commonly used by many traders, quite some didn't and just let the fund stay there waiting for the next pump, and I actually did sometimes just to know what will be the results. I made several trials and I have noticed that stop-loss helps us during the bear reason but not in the bull market. I have lost a few bucks with this study and trials, even though you will think this could be enough and will give a satisfying output but base on my experience, we can never assure that it all be fine. The volatility of the market makes these things happen and so losses are still evident.