All marketsIntermediate

Order Book

a.k.a. Depth of market, DOM, Level 2

The live list of all waiting buy and sell orders at each price for a market.
In plain English

The live list of all waiting buy and sell orders at each price for a market.

An order book is the queue of people waiting to trade. Buy orders (bids) stack up below the current price; sell orders (asks) stack above. Each line shows a price and how much is waiting there. Where they meet is the current market.

On exchanges, you can often see it live, and big walls of orders can act like temporary support or resistance. The spot forex market has no single order book, because it is spread across many dealers, so retail traders usually only see their broker's slice of it.

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