More likely you'll see a load of fake bids evaporate when...

More likely you'll see a load of fake bids evaporate when touched.

Now with respect to yourself and anyone else reading this who believes in market depth as an indicator of support and resistance you need to gain some experience using open book data feeds and study how the fake orders market depth game is played

Market depth has absolutely no relevance to support and resistance levels, they are manipulated heavily with fake stacks of bids, what you think might be depth and a resistance level by looking at market depth for particular stock is likely to be a handful of cancel when touched bids or sells.

Age of HFT there are endless games being played, not so much on ASX penny stocks compared to major markets but they still exist. If your using TA on a stock which has a SP moving in relation to company value e.g its not a penny dreadful then you can chart support resistance lines, but thinking a stock has support or resistance at a particular price just because there is a stack on market depth is completely wrong.

There been a stack on QFX at .001 for some time, that will evaporate in seconds once some sell volume hits it.

Open book data for ASX isn't cheap but it;s worth it to learn/see how the market depth games are played by others. Best application for ASX I've ever come across with good open book market depth indicator is Spark by Iguana

When you start trading US S&P 500 stocks, ETFs and bonds the games played are a whole other level way above whats experienced on the ASX. Why scalping or day trading now is an extremely difficult game, near impossible to play against the HFT quants and win.


Kat.