easy · Order Flow Analysis order-book-dom

In Treasury Note futures (ZN), a trader sees a diagonal ratio of 3.5:1 with 500 contracts on the bid side.

Based on the market-specific characteristics provided, how should the trader treat this signal?

  1. As a major institutional signal, because the ratio exceeds 300%.
  2. As negligible noise, because absolute volume is too low for this specific market.
  3. As an iceberg order, because the volume is concentrated at one level.
  4. As a 'slam dunk' trade if price is at a Fibonacci level.

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