Greetings all and happy weekend!
And, if its your thing - Happy Chinese New Year! ... or:
- Gong Xi Fa Cai
- Gong Hey Fat Choy
Did I get those right?
Friday when I posted the EUR/USD orderboard I stuck this on:
... these market orderboards convey where there are clusters of orders in the market. There are orders at pretty much every tick in the market (round numbers, despite everyone knowing better, are particularly attractive), there's always (not always, most mostly) interest pretty much everywhere, always a bid, an offer, a stop, and so on ... so what you are looking at here is where the clusters are. It isn't complete, it can't be. Anyone who tells you they have the lowdown on every order and interest in the market is bullshitting mistaken in his mind ;-)
Now, I'm not the only one of us to have written on the orderboard.
Mike has posted this brilliant piece:
And we had a guest poster, Tommy Molloy, post this fantastic article:
If you use the orderboards as part of your trading technique, enjoy these - happy weekend reading!