 All right, testing, testing. All right, I think we're good to go. Work, work, work, work, work, work, work, work, work. Yeah, excellent. Take it away, John. All right, welcome, everyone. Continuing my series on achieving peak performance. And this, we went through self-awareness, and then know your enemy and who we're going against. And today, I'm going to go over, you know, know the battlefield. So, you know, I'm a big fan of Mayuta Masashi, the book of five rings. It's a great, you know, he was a master swordsman in Japan in feudal days of Ronin. And his book is all about, you know, going to battle with someone, you know, right in front of you with a, you know, five-foot knife, you know, basically, you know, sword and how do you, you know, how do you focus yourself for that battle of life and death? And, you know, really understanding the context of, you know, the environment, you know, is it, you know, if it's an early morning battle, you know, is it due on the ground or on your, you know, is it gonna, if it's a little chilly, is it gonna make your sword stick in its saber, you know, and you can't get it out quick enough, you know, just all the little nuances of context, you know, before you go into the trading day is so critical to understand, you know, where you're at and you can make those intuitive decisions. And that's really what we're talking about here is how can we trade more in a flow and more intuitively. And so, you know, before I get going, I want to add a little disclaimer and disclosure here and, you know, you know, basically you can read through this, but this is all for educational purposes. So, you know, nothing I'm going to go over is specific advice, but if it can improve your trading, that's what we're here to do. And a little bit about, you know, Dharma Capital Trading, you know, I grew up on the trading floor. I mean, my first summer job was a runner on the Mercantile Exchange. And, you know, a really big fan of, you know, intuitive function and proving people's ability to perform at their peak performance, at the top level. And, you know, I'm looking for, you know, as the world's changed and more and more trading's gone, you know, completely automated to kind of bring back the trader, you know, the risk taker. And really, you know, create some positive impact on people to improve their lives and empower you with, you know, fact-based trading, you know, kind of moving away from subjective indicators that give you doubt and really, you know, focusing on all the truths that are out there and the real facts. You know, how can you really, really improve where you need to have all the good facts to do that? And just your opinions don't matter so much, you know, and you need to understand and have awareness to that those are your opinions and that kind of gives you beer goggles looking at the market, hoping that, you know, what you want to happen will happen. And that's just not the case. And so we're gonna go, you know, this whole series is about helping you attain better awareness and so we can kind of facilitate getting you into a state of flow to really achieve, you know, the best that you can achieve. And so this is third part of the series. I know the battlefield and, you know, what we're talking about here is always going to a fact focus. So, you know, whenever you have those self-doubts or questions or too excited one way or the other or too fear for one way or the other, you know, always going back to, you know, what are the facts? And so today we're talking about context. You know, what's the underlying context, you know, and really owning that and not, you know, and that's your basis. And so, you know, the context informs, you know, helps you inform your trading decisions, helps you identify risk and opportunities. So in a general sense, you know, markets are fundamentally driven and interconnected. You know, the price movement within that fundamental framework reflects the current market state and these states and shifts and state will occur at specific price inflection points. And that's, you know, that represents the structure of the state. And so if the market is holding structure, then we are going to anticipate that the state's going to persist. And if the market's breaking structure, we know that we shouldn't hope that the original state's going to persist. We know that there's a transition in play. And so it really becomes a more of an if-then statement. If the market's holding structure, the state's going to persist. And if it's not holding structure, then we're in transition. And so then that's when we know we need to adjust our tactics. So our tactics are aligned with the state expectation. And then if it shifts, we're going to need to adapt to those shifts. And so, you know, whereas we're building our, you know, fact foundation on, you know, this baseline, what is the battlefield? What is the context of the state? You know, one of the things definitely in crypto is the news narrative. And, you know, it's almost comical. What goes on in the news narrative and all the clickbait stuff that's out there. And, you know, you'll have a headline that's completely opposite to what even the article's about. And then you have just, you know, wannabes out there just hyping whatever token they just bought because it's, you know, they're on top of their Ponzi scheme and they're trying to just, you know, get people hyped to sell to somebody else. And not really a part of what's happening here in crypto, which is really kind of a revolution to from centralized systems to decentralized systems. And, you know, really being a part of that movement is what we're all about. But there's a lot of news narratives. And you even see this in the traditional markets where, you know, people are just talking their position. So you really need to go through and not let that stuff anchor you as well. So you read something quickly. You don't want to get, you know, stuck on that. Verify who's, you know, who's posting it. Are they worthy? What are they supposed to be for? You know, you know, are they just a, you know, a Bitcoin maxi and they're just gonna dis-eat or whenever they can. Or, you know, are they just, are you following someone who really has a solid foundation is giving, you know, good insight. So the news narrative, you can affect the market. You have to respect it. You can, you know, there's a lot of noise out there. So this news narrative can drive the market in one direction for a week. And then all of a sudden one day it just shifts with some other just, you know, clickbait thing. And so it's always, you know, that's part of the context. You need to know where it is. But, you know, as long as you understand we're going to get into the structure of it and where those things are occurring, it can give you some better insight to, you know, how that news narrative is gonna affect things. You know, economic reports. You know, so we've got, you know, you always need to be aware of, you know, what's happening, what releases are coming out. And I like to look at, I think this is a great calendar. The Bloomberg economic calendar you can go through and, you know, kind of go through your filters. But it gives you a good sense of the week and you should always pull this up on the start of the week to get a sense of what's coming out, what's happening. I, you know, on the filters, you know, I filter through just for the states and then I'm categories I'm looking at all. And then I'm just focused on the major important. You know, what are the major important ones that are coming out? And then it'll just give you kind of a highlight of the week. You know, and what's happening this week is, you know, the big thing this week is we've got unemployment on Friday, right? So, and we do have a lot of other things happening throughout the week, but this is definitely the main thing. And that's what the market is gonna focus on. And, you know, so as you go through the week, you're gonna have, you know, these are all volatility opportunities. And, you know, it's, you watch observing price action. You know, so today we're coming in and we've got, you know, we had a report come out at 10, you know, now, you know, non-farm payrolls is gonna be, non-farm unemployment is gonna, you know, be something that's interesting, manufacturing, all these things are good and how the market is gonna kind of prep for it. You know, a lot of times when there's some dead space, there's not a lot of releases and there's a major release, you know, definitely the day or two before that major release, the market's gonna trade sideways. And it also helps to show you how much interest there is. You know, today, you know, we're having, you know, a decent move in Ether right now. And, you know, it's just, it has something to do with, hey, you know, the reports are, the major reports come out at the end of the week anyways. Let's see what we can do before that happens. You know, so, and, you know, bottom line is you need to understand what these, what reports are coming out, what's the potential impact, if everything's all geared up for it and be ready for it. And, you know, and make sure that, you know, and understand that the market's gonna do some positioning, you know, to test the upside, test the downside, you know, sometimes before those reports. Yeah, the other thing, you know, again, you know, so we're just, you know, building that contextual foundation. You know, you're just gonna, is there a narrative going on? Is, what reports do we have coming out? You know, part of the news narrative, I didn't mention, you know, we've got, you know, in Chicago, I've got an election. You know, we've got a mayor or election. You know, we've got the Trump situation. You know, so there's, you know, a lot of, you know, what's happening. You know, keep that all in context. You know, the other thing is, common moving averages. You know, what's the world watching? You know, it's important to just be on top of what everyone's looking at. And, you know, 50, 100, 200 day, those are just, those are the classics. You know, and so, you know, where are those, if there is a signal that's occurring, where is it occurring within the structure of the market? You know, and that's, you know, so we're gonna get into that a little bit more. But you know, identifying are these signals occurring and are they in alignment with the narrative, the reports, you know, as we're gonna get into the state of the market. And if these averages and these average signals are occurring in alignment, then they're more real. And if they're not, then they're not real. And so that's, and then you need to take into account if everyone's watching this thing and it's occurring kind of outside the box and it's not in alignment and you're getting a, you know, a negative, you know, the market is just brought below the 100 day moving average, I'd say. But it's not in alignment with anything else. Hey, you know, if that thing turns and we pop back above it, we could have a big, you know, a big positive shift because, you know, it was basically a head fake. And so understanding, you know, where these things are occurring within structure is important. You know, so here's the moving averages, you know, I've just got the hundred and the just this so change the color here. So I want to show, you know, these are the tools I use, you know, at the end of the presentation, if any of these tools are interesting, you want to check them out, you know, we'll get you set up to kind of test drive everything. But, you know, basically, you know, it's nice to have a, you know, a sense of, you know, where these big averages are in the market. So again, you know, everything we're doing here is focusing on facts and that's what's important. You know, really understand the truths, you know, and if you're dealing with subjective technical analysis, you have to understand what it is that's subjective and it's really the last thing you want to look at and you should not be making decisions based on just, you know, something that's subjective. You want, you need a statistical baseline, you need a truth fact foundation and that's what we're going over right now. We're going over that context. And so we're talking about price data, you know, and so this is, these are truths, you know, with the open, high, low close, you know, the VWOP, you know, this is great factual insight to what the current condition is. You know, not only, you know, and you know, so let's just, let's just take a look at that. You know, so price data, you know, this is a five minute bar chart. You know, just simple things like, okay, what's yesterday's high? You know, what's yesterday's low? And you know, what's the midpoint? So these are just simple tools and facts, right? So, you know, here's the start of the day. What do we know? That's true. Well, markets trying to stabilize above all our moving averages, that's positive. And it's above yesterday's midpoint. If I'm getting a sell signal right now from whatever, you know, or I have an opinion, I came in and I got anchored on a news story that is saying that crypto's going to zero. You know, this is a fact that says, hold up. You know, if you absolutely have to do something, you just do it small. But this is telling you that whatever you're doing, you're doing it against what's true and what's factual. Above the, you know, and the same thing with the, you know, yesterday's close. So yesterday's close is a little bit higher than the midpoint. So we kind of have this, you know, this is kind of our band of saying, hey, you know, these are simple truths. We're above the midpoint yesterday. We're now we're getting trained above the close. You can see how it kind of came in here. We're above all our averages. This is just continues to tell us that this market is strong. What should we expect here? Well, we should expect a retest of the high. Why not retest of yesterday's high? They retest it, they give us a pause and then they just jump through it. And now we're kind of all systems go that we've just, you know, kind of made it, you know, just with this price structure. And, you know, we can do the same thing on different time frames. And this is real important. You know, when you're, when you are, you know, entering the market, you're dealing your, you know, if we went over last time, who are your enemies? You got the big funds and you got the IHFTs. You know, so that the big funds and what are they worried about? Well, they're concerned about, you know, the higher time frames. So, you know, we know what the last day is, but you know, now what was, what was the last, what was the last week's high? What was the last month's high? And what was that midpoint? And so that, you know, all of a sudden we get this different context of what the bigger, you know, the bigger timeframe, what people are looking at. And so if we, you know, so we're about now we're above last month's high. And so this 1860 level in Ether is, you know, it's a big deal, you know, so we have this whole zone yesterday's high point, the month, you know, this kind of whole band here, you know, if this market is really transitioning higher, you know, where does this tell me to sell? You know, it doesn't. And so as long as the market is, you know, kind of starting to hold positive structure and it's above these highs, we have to respect that. You know, it's just, you know, where's again, we're just building on this context. And so when you're dealing with price data, you're looking at, you know, the high low close, the midpoint or the VWAP of whatever timeframe are all key factual times, points. What's, you know, so now we're coming into, you know, that, you know, how we're building this, you know, this base layer, right? We're building this, you know, our baseline fact foundation and we're looking at, we need to understand what time phase we're in. You know, and is it a good time to trade? What's the liquidity going to be? You know, so, you know, in general terms, you know, the US, you know, the start of the US markets is the most liquid time. You know, definitely a decent time is the start of the European market. You know, and they'll trade, they'll have to provide good liquidity and then there's kind of a dead time until the US markets start to open up and then, you know, really kind of, even starting around 6 a.m., 6 30, things start to get interesting. But with, you know, with crypto, we're trading UTC time. So, you know, I'm in Chicago, so the opening for crypto for me right now is 7 p.m. And, you know, and that's a big time. And, you know, you need to be, you know, just being aware of what time phase that we're in to align your tactics. Because if you're trading during liquid times, when there's a lot of funds that are open, you know, and trading, there's a potential for some, you know, the market to really roll and steam roll in a direction. Versus if you're trading, you know, outside the box and time zones that aren't that active, you're gonna have more HFT activity. And there's, you know, things could have the potential to be more choppy. You know, kind of railroad one direction to just flip around and go the other way. So understanding, you know, again, it's all context, what's the context? Time frame is a big part of that context. And along with these time frames is what, you know, the theory of price discovery. So price discovery is, you know, we're really identifying, you know, the kind of the cycle of the day. So it's determined by, you know, major market participants, you know, coming at the start and end of a trade period. You know, and so you can look at that as, you know, I'm coming from the futures markets. And if you're trading on leverage, you're dealing with that in crypto. But, you know, if you just look at your trading day and what happens at the end of the day? Well, most people, you know, they have to settle up their margin or they have to get out of their position, you know, because they can't afford to hold it. And so that creates a unique time frame. It's called settlement, that market's gonna perform a little differently. And, you know, it's a tough time to trade. So, you know, one, you need to be, you know, on the 24-hour market, it's really the last four hours of the trade period. Can be kind of squirrely. Or they can just drive in one direction. You know, because everyone's short and then they just rally them right up all through settlement and then immediately the settlement's over and they flip it and they just drive it right back down. So it's important to understand these, you know, these time phases of price discovery because, you know, just as the settlement's important and the opening is important. So now the opening comes along, everyone's either getting back in or there's new orders to be placed and it creates this kind of opening range where the market's trying to determine what are we doing? You know, let's test it to the upside, let's test it to the downside. You know, and then you get into the, then after the opening range is formed, which is, you know, for a typical regular trading session, futures market's gonna be an hour, but for the crypto market it's gonna get the first four hours and it's gonna be kind of the key range that you're gonna look at to discover where we're going. Are we going sideways or are we making a move today? You know, and this is all, you know, and this happens not only on a daily basis, but a weekly, a monthly, quarterly, yearly, you know, fund managers are using their, you know, their big benchmarks, their performance and so monthly benchmarks are big so you can look at, you know, the last week of the month is kind of the settlement week, you know, the first week of the month is the, which is what we're in right now, the new month, we're in the opening range of the new month, so the market is, you know, pressing, you know, right now we're pressing it to the upside, we're searching for, either we're searching for some resistance, but we're making, you know, we're still part of this opening range. And so the market's, you know, it's searching for some sellers right now. So we need to align our tactics with these facts and you know, all this, you know, this price discovery, the time phase, price data, all this stuff is things that we cover at Denver Capital Trading and our Trader Development Program so we get into, you know, we get into depth with that. Actually, let me show you, I could show you something real quick here in terms of price discovery. So you get a better sense of what I'm talking about. This is an app we have within this application. And the red represents the settlement period, yellow represents the opening range period and this is kind of the discovery period and this is what we call our validation period. You know, basically last night the market, you know, yesterday the market formed this big settlement range and you know, typically you can use that, you know, again, just as you use the high, low and the midpoint and the close as structure, you can use the settlement range as structure for the opening range to get a sense and so our opening range this morning was pretty tight. You know, as long as it's above the midpoint, it's positive pressing this area and this is typically opening ranges will challenge the settlement range but when it's a big range, it's not so much. So here, the previous period, you can see that we kind of tested the upside, tested the downside and they broke below it. They obtained, you know, basically equa did 100% move of the settlement range, which is, that happens a lot. You get these extensions of 100 to 200 times the range and then here in the discovery, it says okay, it should stay below this opening range midpoint, it doesn't and what's it gonna do? Well, it's more likely it's gonna test the upside. It was the previous settlement and the opening range and it does and then that's where you get your big initiation yesterday where it validates that it's gonna, you know, the market wants to go higher and in today's action, you've got, you know, here's your settlement range, here's your midpoint, we're opening above it. So here, in the discovery stage, it's gonna, you know, kind of test those opening range parameters. It tests it on the low point and then all of a sudden it trades above it and this is kind of a sign of strength that's saying, hey, market wants to go higher, read comes back and retest the opening range midpoint and then at this point, it's validating that, hey, we, you know, this market truly does want to bust out of the opening range and it gives us this move. And again, this is just another layer of context, right? I mean, the markets are complex and there's a lot going on and this, things aren't easy. So, you know, but understanding what the facts are and what the truth is, you know, fact is we're, you know, at this point, we're above the opening range and, you know, we're, you know, we were also, you know, we, you know, we can, you know, kind of combine these, these pictures and it gives us, you know, more insight to, you know, we're above the previous days high, we're above that midpoint, you know, and all these things come into fact, it gives us better clarity to what's more likely to occur and that's what we're looking for. You know, we're looking to, you know, kind of get in that zone and that's how you do it by having a fact focus. So, price discovery is a big deal and that's something that we go into a lot more detail in our development programs at Dharma Capital Trading. You know, now, now we're coming into, you know, where things get really interesting and there's more clarity where we're identifying the state. So, you know, this is a technical position, you know, pretty much for the trade period and how, you know, the current daily timeframe is what our focus is with the market state. And, you know, now we're coming into just familiar terminology where we're, you know, this is defined by the nuances, you know, this is a positive day, negative bias, no bias, is there liquidity, volatility? You know, you know, we're identifying these states that we've all traded in, but we're just putting a label on it. And, you know, is it a bull trend? Is it a bear trend? Is it a non-trend? Is it correction? Is it accelerating? Is it extreme? And we've all traded these market states and we want to put, you know, we're able to put a label on it. And this is something that we do with our applications and all of our work is completely quantitative, but as you're building, you know, your FAC Foundation, and just as we've seen here with these FACs, you know, this is telling us that, you know, this is positive and so you could call that, you know, this market is in a positive state. And that aligns with our application. And this is something that we do where we're, you know, identifying, you know, different market states for the different markets. So, you know, for Ether, you know, the market is in a bull trend. And, you know, when you identify a market in a market state, you know, just understanding, you know, really doing a deep dive in what that state means, you know. Yeah, for a bull trend, it's pretty straightforward. The market's making higher move highs, higher move lows. Bull trends don't always go up. You have corrective moves against them. And so that's another part of creating this context is, you know, we guess we're in a bull trend. What part of that bull trend are we in? You know, we got a peak, getting ready to, you know, for potential correction and we had a trough for, you know, really a sweet spot for a big move. And so, you know, really understanding the state of the market, you know, we can, you know, start to really, you know, align our tactics. And so this is what we call our playbook, which identifies the market states of different markets. And it's a great feature you can just, you know, kind of go through. We've lined up, you know, most of the liquid crypto and if you trade futures or stocks or ETFs, we provide the, you know, states on those as well. But, you know, having a definition or a mandate, I find that really important in trading, you know, and creating that solid foundation. So this is my story and I'm sticking to it until things change. And when do things change? That has to do with market structure. You know, so the market structure or what we call the price map is the boundaries that define a state. So, you know, if you are in a bold trend, where, what is the structure of that state and where does that state shift? And that's where really all the liquidity is in the marketplace at these structure points. And this is where the funds enter. This is where the HFT guys get rolled over. You know, so, and this is something that's, that we do and we define in our playbook. So we have a market that's in a market state and then we define the structure of that state. Let me go back to my crypto example. So we have a state expectation of bull trend, but what's the structure of it? And so today for Ether, the structure of that state is what we call balanced. So anytime a market is in a trend state that's balanced, it's a pretty dynamic market state because what the structure is telling us is that if the market is really good, it's just gonna go and it's gonna go now. And where is it gonna go from in Ether? It's gonna go from 1807. So as long as we're above 1807 unstructurally, this bull trend is all solid. And so understanding these inflection points where this bull trend is no longer true is key. So if we know the definition of bull trend, higher move, higher move, lows, we can, and that's something we're gonna talk about next is just price structure. Okay, so when is that not true? Well, in this example on structure, this is telling us that below this price point, this market should really hold this price point, which is 18.734 on the perpetual. And if it breaks that structure, then we're no longer, there's problem with this bull trend. And if we go below this point, which we call our downside pivot, 1769.97, then this is completely untrue. And so we don't have this expectation of a bull trend. And if we get above this price point, this tells us, okay, this bull trend is gonna try to expand and we're gonna try to reach a new level. And so these structure points for the market, for the market state, tells us where we can anticipate shifts or transitions in state or the extension of it. So is the market going to, doge had a news come out? That was part of the narrative. And it just jumped. And so this market's positive, really positive, but it's really overdone and the real energy, structurally, this thing can break pretty big and it's still real good. So that's good to know. So if you did, this is a long-term position for you, that's something to consider that, hey, if the market starts to fail from the structure point, I could get squeezed. And so just, again, building that base narrative, what's the structure of the market? What's that state? What's the structure to provide you with some clarity? And then once we understand that, we know where we want to adjust our tactics or where these, that's when we first talked about the moving averages, common moving averages, where are those occurring within that structure? And they kind of help to, and when you see the alignment of different things and or you have some subjective indicators, well, okay, where are those occurring within the structure? And if they're occurring at structure alignment, they're valid. If they're not, they're not. And that's kind of why technical analysis kind of works and it doesn't work because it works when it's in alignment with facts. And it doesn't work when it's not in alignment with facts. So it becomes frustrating. So if you always have that as your secondary add-on, you'll be okay. But you can't make decisions based on subjective, your subjective opinion basically comes down to it. You have to have a statistical baseline to really succeed. So price structure, that's simple bar charts. And I prefer bar charts myself, but we went over this, high, low, close in the midpoint, looking at the higher time frames. So not just the daily, but look at the, what's the weekly? What's the monthly? Understanding what these periods are. And then when we're observing price action, is the market holding price structure or breaking price structure? So you change the time frame here and absolutely sense the large funds are really, they're into the bigger time frames, the smaller you go on your time frame, the less valid the price structure is going to be, especially for crypto. Crypto seems to trade like a seismograph. And it really focuses on the structure points versus price patterns. And more times than not, you'll get structure breaks that just don't follow through and they actually provide some opportunity. But, and also that's where moving average has kind of helped to come into play as well, where they help kind of give you a sense of, okay, this market is trending. We're looking at this price structure. So you have this market here makes it low and it's building this positive price structure and it just starts to scream higher. And then right here, I'll level it up a little bit for you. You know, market makes you low, takes out this low, it can't stay below that low, pops back above it and starts to base here. You know, it starts to hold positive structure. So, you know, I'm always playing this high low game of just, you know, is the market holding structure or breaking structure. And if it's, if it starts to hold structure, it's like, okay, you know, market's going lower, had this big event. I know that there, you know, since this thing didn't follow through, there's an issue. I had this huge strong bar, breaks below this previous low point and now it doesn't follow through. And now it's basing. And now I'm holding, and then I just take a look back. Okay, where's my low? Now the market makes a new high. Okay, now I got a low and another low. Now I got some positive structure. And this thing holds structure, takes out these highs and jumps. And now I'm looking at this low, you know, makes a new high and it just can't, it can't make a new high and here we break structure. You know, this tells me there's a problem and it turns into this. You know, the market can't build momentum. Starts, you know, again, you take out these lows, doesn't follow through, starts to hold structure. Now it's holding, you know, holding positive price structure. And so just, just basically observing price action. Is it making higher lows, higher highs or not? Is it making lower lows, lower highs or not? And if it is, you know, that's, you don't want to, you don't want to fade that. You want to, you know, if the market's trending, trend is your friend, you know, it's absolutely, you want to, you know, if the market's basing here and we have these higher lows and we're getting higher lows above yesterday's midpoint and the close and we get the moving averages are coming. This is all this positive price action here. You know, it's consolidating. You had a two downside head fix that didn't, that didn't follow through. These two spikes lower or higher. So you have higher positive price structure here. And then when you get into situations like this, it is mind numbing, you know, to, to deal with this. But bottom line is when you're getting, you're concerned here, the thing's going to, oh, it's going to roll over and you have an opinion that the market's going to take out the midpoint and go and you bail out of all your stuff or you tighten your stops up and you get, you get stopped out here in the market terms. You know, so you have to, you got to, you have to focus on the facts. In fact is, if it doesn't break structure, it doesn't break structure. It's as simple as that. So, you know, these are the, you know, again, just really breaking down the foundation of the market and this price action, you know, within market structure is really when things, you know, get interesting. When we're, when we take a look at, I'm going to start to put some price structure on this, but when we identify the, you know, the structure of the market, like we saw before of the bull trend and where does that bull trend go, then things get real interesting. So I'll come back to that in a minute. So, you know, the, kind of one of the final things on, you know, really identifying the battlefield is the sentiment bias. And, you know, there's a lot of different names for this. We call ours the R level. Some people call this their over-under number. And, you know, basically for whatever timeframe you're looking at, you know, daily, weekly, month, the quarter, the yearly, you know, there's a, there's one price point that's going to, you know, that's going to shift sentiment. You know, so, buy breaks above this level, sell rallies below this level. And so that sentiment bias is what we looked at on this, on the structure before, you know, it helps to identify, yeah, this is the swing point. This is a reversal level. And that's going to affect, that's something to take into account. And, you know, so, you know, one of the things about sentiment, you know, that's, since it is, you know, kind of the turning point level, well, that's going to be the best place for your risk reward. Because if it can't hold that level, it's going to reverse and go the other way. So, you know, your size always needs to be bigger at sentiment. And then the farther you get away from sentiment, that is how much, how vulnerable you are to your position. So if you're among the market and the market goes higher and sentiment's way below the market, well, the market can turn and go all the way down to that level and it's still good. So you have to, that's something to take into context of how you're going to manage that position or manage any kind of potential there. So, you know, kind of pulling it all back together here and let me pull the playbook back up. So we have our market state, trend, and then we have the structure of that state and we have our sentiment. And so we talked about here, the sentiment was balanced. For Bitcoin, it's a similar structure in state. For Litecoin, it's a little different. We're sentiments below the market. So this is kind of, I call this a power stance where sentiment is at the bottom of the structure. Excellent, it's similar. So we've got different exchanges and most of the bull trends are kind of similar there. But it gets, you know, where the sentiment is within the market state is going to give you, you know, a different insight to how you want to approach the market and how it's going to skew the state as well. So for this market, here's our sentiment. And this is, yesterday, we had, you know, sentiment was at 1798-78 and the market was real rotational around it. So this is what happens at sentiment. It can be kind of a rotational. There's a bigger story to this because yesterday this market was in a bull trend state as well. And I'll put those parameters up. And we know that when the market's in a bull trend state, you know, it should be above here and it wasn't. So this action here actually told us that there could be some issues like this. And I'll show you why. So if we're in a bull trend state and yesterday was also Monday. So Monday is the opening range for the week. So it's an interesting day. And we know the market, you know, we're coming in, let's pull up yesterday. So yesterday markets in a bull trend, same state and structure with the R level at 1798. So we know that the market's balanced and it's ready to make a move. So if the market's in this state has this structure, what are the strategy themes? You know, so it's everything's an if then statement. It's all just factual. You know, we're in this state, it has this structure. What do you do? Well, we know sentiment's balanced because it's this structure. So we know that the optimal thing to do is to be long from the R level. And if the market can't and then impress it if we get a breakout above the upside pivot. And then if the market can't sustain a breakout and it reverses, that's an opportunity. And then definitely if it breaks structure, that tells us that we're in a head strategy theme. So typically what happens is every day, you know, every market is in a state, every market has a specific structure and every market has, because it's in that state and the structure has this specific themes. And the market either performs the expectation of the state and structure and this whole, you know, narrative of context. And that's what we call optimal. And that's when trading seems easier and because the market's holding structure and it's performing to the expectation of the state. You know, we know these characteristics of a bull trend, the market holds positive structure and goes higher. And you know, when we identify that, that it makes things easier. When it breaks structure, things get more difficult. Because now this bull trend is no longer true. This is the nice part about using this method is that if the optimal strategy, if the optimal theme is no longer true, then it's either the market's either gonna perform the expectation of a hedge theme, or you're gonna have one of these non-event linear sideways days and it's just gonna be a garbage day. It's gonna just chop around. And so the market tells you what it wants to do. And so yesterday, the market told us what it wants to do here, right from the get go. Because if the market was good, it would be above this point and it would be trending higher. It would be like today. It would hold structure and go. Here, it told us that the bull trend, optimal theme is not true. It can't be, I'm not looking for a trend higher day. It's either gonna have a hedge strategy theme where we're gonna reverse or it's gonna be a choppy day. This was a volatile choppy day. More times than not, it's like this. But it told us that it wasn't gonna trend higher. And it told it, so this knowledge gave us a sell opportunity here down to structure, which is part of this theme. We call this a sell or a breakout. Down to structure, that's the base. But what happened here is it held, it couldn't validate by going outside what we call our critical range and it broke structure and said, hey, the hedge strategy theme's not true either. So we know the bull trend's not true. We know the hedge strategy theme's not true. That tells us that it's more likely we're not gonna get follow through than we didn't. Whereas today, we come in, we're in a bull trend, structure's balanced, set depends on the directional and we get a market that's holding positive structure and we get some follow through. And so we get what we call a two APMD move, two average price map distance move. But again, it's all just in the context. You go from the very basic, what's the news narrative, what's the economic reports, what's the opening, where we close, what's yesterday's midpoint, high low, what's the time phase that we're in and then we get into some more sophisticated stuff with what we currently offer. And it all comes together as a fact foundation and how we use, so then what we do to execute this, we use a book map, which you are familiar with, you reduce this. So here's this price action here happening. So what do we know is true? Market's in a bull trend and we're here. We're breaking out here. We're in this strategy theme. This, both of these engaged by our fade, by UP breakout, we're in an optimal strategy theme. That's our story, we're sticking to it. So we had the R fade here engaged, gave us two APMDs, the UP breakout, market broke out, paid out full APMD and we had a retest here. So the expectation for a UP breakout is a two APMD move. So we're looking at 1925. This 1867 is what we call our critical range extreme. So this is just giving us some insight to this breakout. And if we're coming in today and it's where are we at for the trade period? Well, we are in, let's pull up that other. So we just got in, this is our time shift and we're coming in. So what do we know? Well, we know the market is still in the validation phase. So things are still in play. We haven't settlement phase hasn't started yet, which can get difficult, but with the settlement today, the markets, what's it gonna do? It's gonna, you can break all the way back down to 1807 and things still good. More likely if this market is gonna trend though, it's gonna start to hold some positive price structure. And so now that the market came back and retested the top of the critical range, upside pivot and we're sitting here, we're gonna look at the order book and I'm using the multi-book and I've got my positive price structure here. I like to see, we had this exhaustive move here. So when you're getting an intensity of trade, add an extreme that's at structure, these are great opportunities. But then the market broke out, I'm a buyer, everything's performed to expectation. And I know this is a squeeze. If I don't have structure, I'm looking at these lows and saying the market broke, broke this price structure, we talked about before that crypto's more like a seismograph and it really just cares about the structure points. It doesn't care about this inter-day stuff at all. But this gives you insight and then especially when you get this intensity of trade and things start to really blow off and it's happening at structure, it gives you an opportunity. And so now, and we do have liquidity pushing on the top of this. So this, I like to see these kind of liquidity shifts happen at these metrics like here and like in with BookMap, it makes it much more easier to see what's happening here. And we can see now that liquidity shifting up to the top of this metric, which is telling us it's positive. I also know based on structure that, if this market is a true breakout, I should see a two APMD move. So my trade vision is 1925. And so since the market attained the target and pulled back to here, absolutely that might be all we have for the session, I need to be aware of it. But at the current moment, it's telling us it wants people higher. In the current moment, it's telling us as long as we're above 1863 here, this metric, and we're holding this positive structure, there's no reason to sell this thing. And that's a story from another time we can get more into that as I go through the different series. I just, you know, the biggest thing today is just to understand that battlefield, you know, understand what that basic context is so that you can align your tactics. And so the, you know, you can get access to any of these analytics I've shown you from the Dharma Capital.Trade website. And it incorporates the JS Analytics and the JS Playbook that are, you can register for free trials there on those. If you haven't taken the personality profile, I definitely recommend that you do that and you'll kind of go back through the full series and, you know, self-awareness, know your enemy, know the battlefield. Again, you know, this is all about fact-focused and to achieve intuitive function. You know, the way that it's, you know, it's kind of like the matrix, you're Neo and you can beat the machine because you don't have those limits. And that's exactly what we're doing here. We want to define that baseline, statistical baseline that you can work within that framework and you can really perform to your peak. You know, some facts, you know, and some study. The Thinking Fast and Slow is a great book that really, you know, validates this method, you know, from Daniel Kalman, you know, outside view offers more accurate predictions than the inside view whereas, so a statistical view versus a subjective view. There's just a lot of cognitive heuristics that mess with your intuitive function. You need to know what those are. So I highly recommend reading this book. It'll give you a great insight to yourself and help you make better trading decisions. And this is exactly what we help, you know, provide, is that baseline, that statistical baseline. Feel free to email me any questions. And this is, you know, you can access this off, this video off YouTube. And next week, we are going to get into more on the optimal winning strategies. And that will be, you know, kind of going along the lines of, hey, we, you know, understand ourself. We know what we're dealing with. And now we have a sense of the battlefield. Okay, now what are the optimal strategies? And we touched on that a little bit today with the optimal and the head strategy themes. So thank you for your time. We went along today and, but everything, you know, again, the main thing is always have a fact foundation. Always know what the truth is. Just understanding where the yesterday's high, low, close and midpoint are is, and what the current day's VWAP is, that even using that as your structural foundation for your decisions will really improve your trading, you know, as simple as that. And the more awareness you have, the better you're going to trade. And when, when you have alignment with the truth and with the facts, you know, that's when you trade bigger. And when there's no alignment, you sit on your hands or you trade is, you know, with crypto, it's really nice because if you really have to do something, you know, you can trade, you know, you know, 0.01, you know, ether or 0.01 Bitcoin, you know, so it'll, it'll kind of, hey, you have to buy. Well, okay, just buy a micro bit, you know, and then get rid of that emotion and then get yourself straight and figure out your facts and is this the right thing to do or not? If it's not, then just bail out of that thing because you proved to yourself that, yeah, this is, I shouldn't be doing this. But, you know, when things are in alignment, it's a different story, you know, and we're going to talk about that next time, you know, you almost want to trade bigger than you really want to. And as long as your risks are defined. So thank you for your time today. And again, any questions, please email me. Feel free to visit the site and register. And I look forward to seeing you guys in our trading room or back next time. Thank you.