$SEI this position is a bit interesting.
A 15m candle pulled up 2.43%, with volume directly hitting 4x the normal level, and it even closed above the upper boundary of the recent 20 x 5m range. The key is that OI rose along with it — 15m +0.6%, 1h +0.4%, with notional change totaling close to 900k U. Price and open interest moving up together suggests this rally is more like new longs entering with leverage, rather than a fake move caused by shorts covering and getting squeezed.
The OI anomaly percentile has already reached 98.6%, ranking 9th in the whole pool, and notional change is also among the top ranks. The active buy/sell ratio is 1.15, active trading difference is +6.8%, so buyers are really taking liquidity.
It’s not far from the historical extreme range now. At this kind of level, it either accelerates directly, or it’s a round of bullish trap. I’m just watching for now, not chasing higher, and seeing whether the pullback can hold this breakout 5m upper boundary. 24h turnover is 50M, and the depth is still holding up.
Don’t FOMO. Once you enter a structure like this, you need to have a clear exit plan.
A 15m candle pulled up 2.43%, with volume directly hitting 4x the normal level, and it even closed above the upper boundary of the recent 20 x 5m range. The key is that OI rose along with it — 15m +0.6%, 1h +0.4%, with notional change totaling close to 900k U. Price and open interest moving up together suggests this rally is more like new longs entering with leverage, rather than a fake move caused by shorts covering and getting squeezed.
The OI anomaly percentile has already reached 98.6%, ranking 9th in the whole pool, and notional change is also among the top ranks. The active buy/sell ratio is 1.15, active trading difference is +6.8%, so buyers are really taking liquidity.
It’s not far from the historical extreme range now. At this kind of level, it either accelerates directly, or it’s a round of bullish trap. I’m just watching for now, not chasing higher, and seeing whether the pullback can hold this breakout 5m upper boundary. 24h turnover is 50M, and the depth is still holding up.
Don’t FOMO. Once you enter a structure like this, you need to have a clear exit plan.