Back to collectionLarge Orders, Quiet Trading, Unsettled Expectations
The day before, the community had talked about the USD 1.50 level and a possible record next week. Trading was unusually quiet. People called it the calm before the storm, though no one knew which way the storm would move.
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The day before, the community had talked about the USD 1.50 level and a possible record next week. The Night Watchman still had nodes to tend. With no clear direction on the market, he wanted to understand what the large orders repeatedly shared in the group actually showed.
Trading was unusually quiet. Large orders sat on the book without being dumped into the market. Some saw confidence among buyers; others thought sellers were waiting for a better price. After watching for a while, the Night Watchman reminded the group that an order could be canceled at any time. Visible depth was no promise of a completed trade.
People called it the calm before the storm, though no one knew which way the storm would move. The Night Watchman decided to keep recording how his nodes actually ran while watching the order book. Records he could check were more useful for tomorrow’s shift than guessing the next price move.