It is not a weight in numbers game.
It is what is actually executed that matters .
You can have a multitude of fake buys in there at lower prices that are triggered to CXL if the order in front of them gets hit. Basically a conditional order.
It is done to give people a false view in some cases and confidence to place a buy order infront ( ie at a higher price) than current bid otherwise be back in the queue behind a mass of orders. So a lot of those buy orders in depth may be " false" in the fact that they are never going to be executed or are stop loss orders on a short position etc. You can test sometimes by placing a order behind or infront of them and see if they automatically amend their size or price to work out if they are being manually placed or algo based or automated conditional orders. All sorts of games get played so all you can rely on is the bid and offer at market that can be filled and not withdrawn before it is executed at a market order although the smart traders can beat you by a millisecond . Fair marketplace, level playing field - nah IMO.
Total guesswork as no one but the order owner knows the intent of the orders or the reality of if it is conditional and ever has a chance of being executed.
CCE Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held
