I'm a bit naive when it comes to the workings of institutional trading desks but maybe someone here could explain this to me.
I'm watching the depth in ELD again today and I have a position.
At the moment there is a substaintial buy side at .265 and a diminishing sell side at .27.
There is a bot selling small parcels at .265, but it only comes into play immediately after someone steps up to buy at .27
So the bot is only programmed to feed down into the buy side when someone buys up at .27 and it is not selling down at any other time.
What's the objective here?