medium · Order Flow Analysis footprint-delta
Price opens with a 15-point 'Gap Up' in the ES. In the first 10 minutes, the footprint shows selling imbalances at the open price and a cumulative delta that is rapidly turning negative.
What is the most likely scenario and trade plan?
- Gap-and-Go; buy the first pullback to the opening range high with a stop at the open.
- Responsive buying; the negative delta is an 'air pocket' that will soon be filled by institutional longs.
- Gap-and-Stall; wait for a breakout of the Initial Balance high or low after 60 minutes.
- Gap-and-Fill; short at the open price zone targeting yesterday's close or the midpoint.
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