When I first got into trading, I only looked at candlestick charts. It was later that I learned to check open interest alongside them. $ICNT is a good example today:
Looking only at the chart, it was up 17.05% over 24 hours, so I thought new money was flowing in. But checking open interest, I saw it was down 19.8%—it looks more like shorts were closing their positions.
Do you usually keep an eye on open interest?
Looking only at the chart, it was up 17.05% over 24 hours, so I thought new money was flowing in. But checking open interest, I saw it was down 19.8%—it looks more like shorts were closing their positions.
Do you usually keep an eye on open interest?