How to interpret The TOP 5 BUY and SELL table data on the SNAP QUOTE

General
1

Hi Traders,

For those who are familiar with the Snap Quote window:


The TBQ and TSQ does reflect the overall supply and demand , but my question is:

Is it possible to determine the immediate direction of price by looking at the TOP 5 BUY and SELL table data ?

If yes, How to interpret these tables, any good articles on this.

Thanks again and HAPPY TRADING.

2

Personally I think it is best not to look at TBQ and TSQ to decide on trading. There are many orders usually placed much below and above the market price (which has no significance) which will skew this data. I also know of many traders who will place orders much away from the current price in the opposite direction of the trade they are intending to take, just to get a good fill.

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