medium · Order Flow Analysis footprint-delta
A cumulative delta chart shows a value of +1200 while ES makes a session high of 4520.00. The current bar has an ask total of 2500 and a bid total of 3800, and the cumulative delta drops to -100.
What is this phenomenon?
- Bullish divergence; price making a fresh session high confirms strong trend continuation despite the delta.
- Market absorption; both sides are trading heavily at the high without the price moving at all.
- Initiative buying; short sellers are being forced to aggressively cover their positions at any price.
- Bearish divergence; aggressive sellers are dominant at the session high, making the high vulnerable.
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