Wall Observer - MtGoxUSD wall movement tracker

[Killerpotleaf]

holy shit
10.40!  

Time to build up the bids and dump again?

i have a bad feeling about this.....

but i cannot bring my self to hit the buy button atm

[dopamine]

all big wall offers get pulled and then we rally 

[Piper67]

Someone needs bitcoins 

[humanitee]

holy shit
10.40!  

Time to build up the bids and dump again?

i have a bad feeling about this.....

but i cannot bring my self to hit the buy button atm

I'm definitely not buying. Too fake.

[niko]

 Is there any primer on how to read these walls again within the 100+ pages for us eco noobs watching from the sidelines?

  I get the walls idea but so what, if there's a huge ask (selling) wall, the price should stay where it's at, right?  If there's a huge bid (buying) wall, the price shouldn't move down too much either?

  Should the charts be mirroring each other ideally?  

  Otherwise if the orange line is flat, all the lower priced orders could be bought up sold into so the price crashes?

Different opinions on walls, but you have the right idea. Correction to your terminology, when the bids are thin, they are sold into, crashing the price. When the asks are thin, they are bought up quicker (rally).

That's what usually happens in my opinion, so I like trading based on depth (bid depth vs ask depth). Others think its better to ignore, because they are sometimes manipulation attempts ("fake" walls that get removed).

I usually trade on the spot, without placing an order on the book. I want to buy - go ahead and buy. I want to sell - go ahead and sell. I only pay attention to the order book to see how much I'll move the price, and what the average price will be.

[Killerpotleaf]

whats the word? WOWZERS!

[Killerpotleaf]

 Is there any primer on how to read these walls again within the 100+ pages for us eco noobs watching from the sidelines?

  I get the walls idea but so what, if there's a huge ask (selling) wall, the price should stay where it's at, right?  If there's a huge bid (buying) wall, the price shouldn't move down too much either?

  Should the charts be mirroring each other ideally?  

  Otherwise if the orange line is flat, all the lower priced orders could be bought up sold into so the price crashes?

Different opinions on walls, but you have the right idea. Correction to your terminology, when the bids are thin, they are sold into, crashing the price. When the asks are thin, they are bought up quicker (rally).

That's what usually happens in my opinion, so I like trading based on depth (bid depth vs ask depth). Others think its better to ignore, because they are sometimes manipulation attempts ("fake" walls that get removed).

I usually trade on the spot, without placing an order on the book. I want to buy - go ahead and buy. I want to sell - go ahead and sell. I only pay attention to the order book to see how much I'll move the price, and what the average price will be.

i almost never do this,

unless its like a total frenzy, i always place bids or asks and wait

[Cablez]

Looks like the volume is ticking up now, I wonder what the play is? It shouldn't last with everyone being so hesitant.

[Killerpotleaf]

MANIPULATION! ... but this time we have no clue which way the manipulator wants us to go 

[humanitee]

I'd say up.

[waspoza]

MANIPULATION! ... but this time we have no clue which way the manipulator wants us to go 

[kentrolla]

this weekend is going to be fun

[morkai421]

I'm starting to wonder if some are not into btc just for the thrill of gambling

[Yuhfhrh]

I'm starting to wonder if some are not into btc just for the thrill of gambling

Lol ^.^

[LoweryCBS]

I'm starting to wonder if some are not into btc just for the thrill of gambling

Not me. I'm in it for the chicks.

[Spekulatius]

I'm starting to wonder if some are not into btc just for the thrill of gambling

Not me. I'm in it for the chicks.

[totaleclipseofthebank]

bids going back up

[Killerpotleaf]

why does this feel like

Ten Dot Kinda Cheap

 

[humanitee]

Why does it feel like this is the most easily manipulated market ever? No walls are ever tested, people just flip out and sell or buy in front of them. I don't believe the depth chart at all for the bid side, a lot of those walls look fake.

[arklan]

i'd trust the bid walls far more then i ever would the asks. i mean, who wouldn't want to get some coins cheaper then the current price by catching them as the price shifts? it's risky, of course, cause the price could just go down farther then your bid. but catch the right flucation and you're golden.

ah, gambling.