$KMNO This drop is a bit brutal—on the 15m chart it smashed down by more than 3 points. Trading volume was pulled to more than 3 times the norm. This isn’t a slow bleed; someone is genuinely running.
OI on the 15m fell by a bit over 2%, but on the 1h it’s still slightly increasing. Put simply, this structure means longs are unwinding leverage, and a round of stop-loss orders has been swept.
Even more worth noting: the abnormal percentile of OI has reached 97.2%, ranking the whole pool at #12. At this level, long crowding is extremely stretched. With even a small bit of “wind and grass,” it’s easy for a chain-reaction stampede to happen.
Near the historical extreme range, don’t rush to bottom-fish. Wait until OI has cleared out cleanly first.
OI on the 15m fell by a bit over 2%, but on the 1h it’s still slightly increasing. Put simply, this structure means longs are unwinding leverage, and a round of stop-loss orders has been swept.
Even more worth noting: the abnormal percentile of OI has reached 97.2%, ranking the whole pool at #12. At this level, long crowding is extremely stretched. With even a small bit of “wind and grass,” it’s easy for a chain-reaction stampede to happen.
Near the historical extreme range, don’t rush to bottom-fish. Wait until OI has cleared out cleanly first.
