I've been using L2 for a few months but I am struggling to use intraday auctions on fast moving stocks as I can't seem to predict which direction the price will go after the auction.
For instance, the last auction I saw there was huge selling going into the auction and the price was plummeting. The sell orders in the auction far outweighed the buy orders, the uncrossing price was down on the pre-auction price, but as soon as the auction finished, the price rocketed. Is there any way of predicting this as the auction is proceeding or is it just in the lap of the gods?
Any advice or tips anyone has on intraday auctions would be much appreciated. Thanks
For instance, the last auction I saw there was huge selling going into the auction and the price was plummeting. The sell orders in the auction far outweighed the buy orders, the uncrossing price was down on the pre-auction price, but as soon as the auction finished, the price rocketed. Is there any way of predicting this as the auction is proceeding or is it just in the lap of the gods?
Any advice or tips anyone has on intraday auctions would be much appreciated. Thanks