Quick Trading Tip- Sell Walls

in #cryptocurrency5 years ago (edited)

Something very important to look at when trading are the buy and sell walls. Before placing a limit or market order, it's important to look at how the action is being placed on the specific crypto from a macro level.

Screen Shot 2018-01-29 at 1.05.46 PM.png

Look to the right side of the image. Advanced section of binance shows 8 decimal places on the order list. A quick and easy tip is to filter down to 5 decimals. This groups the sell and buy orders into a more macro view of how the asset is trading.

As you can see, XVG/ETH has a favorable buy position and that shows us that this asset may increase in the short term.

Switching over the to 'depth' section of the graph view, you can see a qualitative view below:

Screen Shot 2018-01-29 at 1.09.25 PM.png

Notice the very large green buy wall versus the smaller red sell wall. To me, this reads bullish and I anticipate this crypto to rise considering all factors are equal.

Legal Disclaimer: This is only my opinion, make of it what you wish. This means that it's not advice or a recommendation to either buy or sell anything! It's only meant for use for entertainment purposes. Do your own research!

Upvote Gif.gif


I still have a lot to learn, but thank you for sharing what you have learned! I'm planning on reading a lot of your posts :)

Thanks for the nice comment. I'm here to help as much as possible. Look forward to interacting more!

Coin Marketplace

STEEM 0.19
TRX 0.08
JST 0.023
BTC 27748.37
ETH 1903.72
USDT 1.00
SBD 2.16