A practical guide to the numbers behind each move.
01 / PARTICIPATION
Volume tells you how much traded.
Futures volume counts contracts. Crypto volume here covers the named exchange and pair. Spot FX has no single consolidated global volume figure.
What should I check?
Compare the same instrument, venue and time window. High volume alone does not prove buying pressure: every completed trade has a buyer and a seller.
02 / MOVEMENT
A quiet close can hide a busy session.
The daily change compares closing levels. The range measures the distance between the session’s high and low. They answer different questions.
How do I read the range?
A wide range with a small closing change can mean price moved substantially before returning near its starting level. It does not tell you which high or low happened first.
03 / COMPARABILITY
Same market story. Different instruments.
GC is a COMEX gold futures contract, distinct from spot gold. An index is not its futures contract. Proxy data is labelled so you know exactly what was measured.
Why do the units differ?
Treasury yield changes are shown in basis points: one basis point is 0.01 percentage point. Futures volume is in contracts; crypto volume may be in units of the asset. Those totals should not be added together.
Original editorial illustrations. These images are explanatory artwork, not measured market charts.
Read the evidence labels.
Reported A named source reported this observation. The link and time define its scope; a reported fact is not automatic proof of causation.
Analysis Our interpretation or a testable mechanism. It may explain the move, but it is not presented as a transaction we observed.
Context / Method Background, prior-session evidence or a guide to reading the data. It is not passed off as a fresh event.
The evidence gap Every report states what we could not verify. A wallet transfer is not a proven sale; options volume does not establish dealer inventory; a large futures print does not name a trader.