Good day Toymaker. Tough questions. Yes, a large sell order at .001 or .002 would set a new trading level until buyers absorbed the stock OR until a panic sell off brings the price down lower, which such a manipulator is counting on. If there was a downward spike below the sellers limit price on high volume the manipulator's limit order to sell 30 million would go unfilled, he could cancel the order and begin buying at lower levels. This action would blow the chart to pieces which is why chartists like to trade high volume stocks that are less susceptible to manipulation. In this case the technical analyst would have to go to a longer term chart and find a lower support level which I have drawn in blue on this chart. So as a trader, when the support (lower red line) gets broken on volume you initiate a spread. you place buy orders at the manipulators price and on longer term support lines (blue). You don't need L2 to gauge buys versus sells. You look at the volume of down ticks versus volume of up ticks which can be done on a chart with volume indicators.
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