Levell II

Level II can be used against you... don't count out the possibility... but it can also work for you... and it's not as complicated to interpret as you might think, if focusing the effort on the right aspects.

Level II shows the bid and ask and depth on each side, as in up or down at the different levels of bidding or asks.

So you have levell II... Look for selling or buying... hard hitting from the side lines in either direction is easy to see if your watching... look at the bids for support or resistance... make a speculation... but pay more attention to the exuberance coming in from the side to be the action of choice to act on. Support and resistance blocks (even with seemingly impenetrable depth) can have a reverse effect buy drawing out the bigger action, acting as bait rather than giving confidence in support or resistance as  first thought.

If the hitting from the side is hard enough, and in large enough chunks to waste a block in either direction... it will soon become apparent that the movement to watch comes from the side lines... not the strong hands that bid or sell on the platform. Pretty good clue as to the trend in either direction when matched up with technical charting. The reason for this last few posts is that in order to catch the action if it develops as per EVG.V... you need to watch and be looking at the right thing to catch the dance for use in other issues.

Sentiment buying in action.

GLTA Lostoutwest

Kenuck SmallCap Trader

Stockhouse

Track My Trade - this is a link to an off site I follow, and have no affiliation with.

National Post

Grandich

StockCharts Public Chart List

CBCnews

Please read our Complete Disclosure

If you see the hand... click on screen shots to enlarge them.