Just chatting. I was looking at the contract data today, and one detail about $SAND caught my eye: open interest rose 29.06% over 24 hours, while the price was down 0.48%.
The price barely moved, but positions kept piling up. I’ve been burned by this kind of setup before: the longer it builds, the bigger the eventual candlestick tends to be—but there’s no way to know in advance which direction it’ll go. So these days, I usually reduce my position first and wait to see how things unfold.
Feel free to share a different take in the comments.
I could be wrong, so please manage your own risk.
The price barely moved, but positions kept piling up. I’ve been burned by this kind of setup before: the longer it builds, the bigger the eventual candlestick tends to be—but there’s no way to know in advance which direction it’ll go. So these days, I usually reduce my position first and wait to see how things unfold.
Feel free to share a different take in the comments.
I could be wrong, so please manage your own risk.