[notouch]

Something interesting happened today in YM which happens quite often. If you looked at the order book 15-20 minutes after the open you would have seen about 450 bids sitting above the monthly pivot at 12764. Normally you don't see 450 bids or offers at any one price in YM so it was a fairly blatant example or order spoofing. The purpose of order spoofing is so newbies will try to put orders ahead of the big one. The spoofer then sells to the newbies and pulls his bids. The price then collapses, as happened today. If you can identify order spoofing you can be on the side of the big player and against the newbies.