easy · Order Flow Analysis order-book-dom
An order flow trader notices an iceberg buy order at $4505.00 in ES. The price is currently $4508.00.
How should this information be used in a trade plan?
- It means you should sell immediately, since the market will inevitably 'hunt' the iceberg.
- It should be ignored, since resting icebergs are usually nothing more than 'spoofs'.
- It is a sign that the market is 'Top-Heavy' and that supply clearly dominates the traded price.
- It serves as a strong potential support level to enter a long or place a protective stop.
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