Also, I'd like to point out that incomplete auctions theory should be balanced with WHAT ACTUALLY transacts at levels. For example the lower deltas in the chart tweet below:. Don't put your eggs all in one basket.
#ES_F #volumeprofile #footprint https://twitter.com/Trade_Your_Plan/status/1349081100908335104?s=20
#ES_F #volumeprofile #footprint https://twitter.com/Trade_Your_Plan/status/1349081100908335104?s=20
So let's think about it a little bit. Ask yourself, "where did these negative deltas transact?" The answer is they were aggressive shorts on the WAY down to the upper 60s, and thus, yes, some covered on this rally, and others are going to wait until price oscillates back down.
Also, let's look at upside. Weak structures above too. #ES_F