This morning we had a good down move on 6e. At one time price came back to a level (good level and va high of 2 days ago) at which i sold to jump on the down move.
While entering the trade i watched the footprint chart (gom ladder) and the cumulative delta chart (gom cd) to see market orders coming in. After a few minutes a huge amount of buy orders came in, rendering a big bullish bar on my cd chart and printing high numbers on the volume ladder.
So i got myself out of the trade.
Strange thing was that the huge amount of buy orders didn't have any effect on the price chart. Price kept below my entry level.
With hindsight i would have guest that the huge amount of buy orders were eaten up by sell limit orders.
With that in mind would it be wise/stupid to say that trading cumulative delta divergence is not smart, mainly because the cd chart ignores the filled limit orders?
A related question comes to my mind: is it possible to see if market orders are eaten up by limit orders?
You can look at the price chart, if huge number of buy market orders comes in and price isn't moving much higher, something is eating market orders. But i was wondering if there is a better way to see this?