It is not recommended to use conventional indicators such as the long-short ratio, Net Positions, OI, order book depth, or relative exchange rates to judge market movements when the market is primarily driven by off-chain factors like geopolitical issues, presidential elections, security incidents, etc.

While these indicators are often very useful, there have been very painful failures in history. The main reason is that seemingly irrational unilateral counterparty positions actually have access to more information. At such times, placing heavy bets on market reversals essentially means selling your safety margin and opportunity cost cheaply to others' informational advantage.