I've got some basics I want to get clear in my mind. I can't seem to find an answer. Perhaps its hidden in the depths of futures.io (formerly BMT), and if so, sorry to repeat it here, but I can't get through every thread, even though I would like to (i'm not a fast reader).
Ok, T&S vs Delta.
Would I be right to say that T&S shows everything, all buys and sells, regardless of if they are at bid, at ask or limits (differentiated by the colour of the text), but Delta refers to only the At Bid and At Ask difference ? I think I got that correct (btw I would love to be able to chart ALL T&S).
So if that is correct, when price is moving higher the Ask is being hit, and as all the contracts at a specific price are all sold out, the price moves to the next tick up etc Therefore it seems logical that the Delta is postive during this time and often this is the case. That much makes sense to me.
Ok, so why is it when the total Delta is going down, sometimes the price moves up sometimes and sometimes very violently up ? If the Delta is going negative, then that should mean that there are more people hitting the Bid and that should push price down ?
I'm sure its something to do with the supply somehow increasing, but I am not seeing it minds eye.
Also if the delta if negative and price is moving higher, does this show a very bullish market (ie its ignoring the negative delta) or does it show a market that is going to turn bearish very soon ?