HF
IMO it is simply a capper. No other reason.
When volume ticks up a flood comes out straight away on the sell side. This is often at below sell levels.
E.g. All buys are taken out at 17c and whats is left is buys at 16 and sells at 18c. Instead of the seller coming out at 17.5 and make the buyers come up, they hit out at 16.5 or start selling into the 16's. It is very controlled and very obvious.
Wait and see.
cqt stays true to its stated mission ..., page-5
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