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BeginnerOrder Book, Fake & Trap

Order book basics: bids, asks, walls and depth

What the order book is, why large walls attract attention, why not every wall is real, and what Antick measures about it.

7 min read
1

Bids, asks and the mid price

The order book is the list of orders waiting to trade. Bids are buy orders resting below the current price; asks are sell orders resting above it. The price halfway between the best bid and the best ask is the mid price.

Depth is how much is waiting at each price, added up outward from the mid. Deep books absorb large trades with little price movement; thin books move easily.

An order book depth chart: bid depth builds to the left of the mid price, ask depth to the right.
2

Walls

A wall is an unusually large resting order at one price. Traders read a big bid wall as support and a big ask wall as resistance, so walls change behaviour even before anything trades against them.

3

Why some walls are not real

Because walls influence other traders, some are placed to be seen rather than filled. They appear, the market reacts, and they are cancelled or pulled away before price reaches them. A book can look deep on the screen and still be thin where it matters.

Antick names these behaviours precisely: a fake wall is large resting size that disappears before price reaches it; pulled liquidity is size withdrawn as price approaches; pulsed liquidity is size shown and withdrawn repeatedly at the same price; depth decay is depth thinning over consecutive snapshots at the same price.

4

What Antick measures

Antick tracks large resting orders and records what happened to each one: filled, cancelled or pulled. It compares the liquidity that was displayed with the liquidity that actually traded, and marks the price bands where traps and fake zones appeared.

All of this lives on one page: Liquidity Behavior Intelligence, then Fake & Trap Detection. The page is available on the Pro plan.

5

How to use this category

Read the guides in order: the six state cards give the summary, the two charts show where it happens, and the tables list every event. The later guides explain the individual behaviours in depth.

Patterns, not proofAntick flags behaviour that matches manipulation-like patterns. It is a probability-based reading, not proof of anyone's intent, and not financial advice.