AK FlowBook part 4: icebergs, shows 2, trades 176

Shows 2. Trades 176. 🧊

An iceberg is a big order that hides its size: the order book only shows a couple of lots, and each time they trade the same order quietly refills. Only the trades add up the real size.

Two states on the chart:

• Still alive: a solid line, the hidden order keeps refilling
• Broken: the line turns dotted and ends with an x where price went through

Real example, Oct 2: 176 lots absorbed at 4241.5 (XAUUSD ≈4213) in 6 seconds. Price held there about 25 minutes, then broke and fell about $24 in the next 20 minutes.

Icebergs show intent, not the future. Part 4 of the AK FlowBook series.