Bookmap forum

Hello,
here is what the first minutes of INTC (intel) chart looked like (see image below=.

VERY imbalanced book with 92% ask orders, tons of limit order overhead acting like resistance, yet almost no bid order to support the price.

Yet the price went straight up.
Seing those orders ahead I would have never went long, especially after a large gap up, yet it was the thing to do and price ate most of those levels.

This is counter intuitive, could someone explain the phonomenon, and why price went in the direction with the most limit orders (resistance)? With little bid orders I would have expected the price to fall like a rock.

 

the difficulty is right there. Understand when they take away without getting into the book. It's counter-intuitive but buyers don't have patience to be executed. Area 54.99 kept the prices for a while but then they were executed and went on .... it sounds easy but it's not at all easy.

Resting "liquidity" does not mean resistance or support...it's just orders.

It's only "counter intuitive" because you lack education...inform yourself.

If it was that easy...price ladder/orderbook/Dom traders would be rich in short time.

 

Hi berenis,

Here's an older video but i think you'll still find the content helpful and answer your question.
https://youtu.be/0H1PxLaXuhs

You may also consider attending the Advanced daily Bookmap webinars at 11am ET. We cover this type of phenomena all the time.

regards,

Bruce

Hi Bruce,
i wish I could see the video, but it is a private one. Can you please make it public.