Level II can provide enormous insight into a stock's price action. It can tell you what type of traders are buying or selling a stock, where the stock is likely to head in the near term and much more. Today I explain what level II is, how it works and how it can help you better understand how to trade a given stock better.
Level II is essentially the order book for Nasdaq stocks. When orders are placed, they are placed through many different market makers and other market participants. Level II will show you a ranked list of the best bid and ask prices from each of these participants, giving you detailed insight into the price action.
Knowing exactly who has an interest in a stock can be extremely useful, especially if you are day trading.
Watch this show - How to trade better using Level II 📹 The Mojo Day Trading Show 8-19-19