$MAGIC 1-hour open interest increased by 6%, while the price fell 1.47%.
Funds flow into contracts quickly and usually leave just as quickly. When a market move is driven by rising open interest, its staying power is questionable.
Only moves where volume and price rise in tandem are meaningful; an anomaly in a single candlestick doesn’t tell us much.
Just my personal opinion, not a basis for trading.
Funds flow into contracts quickly and usually leave just as quickly. When a market move is driven by rising open interest, its staying power is questionable.
Only moves where volume and price rise in tandem are meaningful; an anomaly in a single candlestick doesn’t tell us much.
Just my personal opinion, not a basis for trading.