Spoofing, Pull and Stack: recognizing the decoy

Spoofing consists of displaying a large order to make people believe in a wall, then pulling it before execution, in order to push price in one direction. It is illegal on regulated markets, and it exists anyway, in more or less crude forms: algos that place and pull within a few hundred milliseconds, walls that "follow" price without ever letting it arrive.

How to expose it

The DOM's Pull/Stack column and the heatmap expose this behavior: the band appears large… then vanishes just before contact.

• Stack: liquidity actually added. Credible defense.
• Pull as price approaches: fake wall. Do not trade it as a support or a resistance.