 Good morning traders and welcome to the book map advanced education the pro trader webinar series all week long We've had some some nice presentations here today. We have Scott Pulsini futures trader. You may have heard of them And this is similar to yesterday's with Jay trader You guys are getting free access to what our advanced education is like that we do this every week. So You know Scott presents every Thursday He goes for about an hour 10 a.m. Eastern to about 11. He usually goes to about 11 30 to be honest and He's gonna go through read the order flow the way that he trades and uses book map and he you'll find out more about that and is his How he accesses stops and icebergs, etc. And And the way he manages his trades and everything so this is insight to what we do every week and That's the pro trader webinar for today. So he he also takes live positions It is in demo and I'll talk about that in just a second And if you guys don't know who Scott is I'll just go over it quickly here Scott has been trading for over 20 years during the years of 2002 to 2005 Scott was responsible for trading about 10% of the S&P many Futures volume Scott now focuses on trading both equities and futures He's an expert scalper as an innate ability to quickly read the order flow and volume within price patterns Which is perfect for book map? Scott's also a mentor an educator he has a trading room and Go to his website here. You've got his email. You've got his Twitter feed Trading room. He's got an educational course that's on our bookmap marketplace and you can get special deals from Scott's link here I will paste all of these into the into the go-to webinar chat So you guys don't have to copy them down Now I need to go through the disclosures and then we'll turn it right over to Scott General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment Advice nor recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance All right, so know what you're getting involved in here. I need to mention this Especially since this is open to all today and free so you guys get a taste of what we do here in the book map education And that is it's demo and it's not foreshadowing It would be just foolish to do something like that. It is about learning how he reads the order flow It's part of the book map education You have an educational course and you have a daily advanced webinars every weekday From 10 a.m. to about 11 and you know, we it's all forward-looking analysis plus you have the live trading like today All right So risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors An investor could potentially lose all or more than the initial investment risk capital is money That can be lost without jeopardizing one's financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading past performance is not necessarily indicative of future results and With that, let's just turn it right over to Scott and let him take it away I first hear me yes Little crazy right now I'm trying to Follow multiple things here. Obviously I had ripping off rally What's funny about this rally as I was long overnight in my room we talked about this trade and in my Fatigue so you can see that traders that have been trading 20 plus years make mistakes as well like stupid ridiculous mistakes So I before I wouldn't so I was long from 85 42 85 just just a couple Because my night trading sucks because I can't obviously monitor, but I had my we talked about this liquidity level here I can't really see it now, but you see right here It was in there all day yesterday, and I said that was my target and before I went to sleep I put an order in what I thought was a sell order instead I bought more at this price and then woke up and came down here It came to market was down here, and I'm like you gotta be kidding me So the point is it started to sell off, and I just scratched the whole thing But I cost myself huge money with an error And I wanted to be long as I was long this market And I bought more at the pretty much die And then it's a lot when I cut out and then we just ripped back all the way so pretty painful start in the morning on a you know self-induced error, but Now you can see how it happens to the best of us and you have to you just gotta be paying attention when you do stuff Work can cost you dearly and that one cost me dearly so So anyway, here we are. These are very important areas for crude Equities yes, and Q and gold as well so you can see here. There's a yes This is a straight beeline move we were talking about Why I wanted to be long here yesterday at the close Structure wise and that liquidity We get broken out of this balance We built more balance on top of balance and then we you know, we're right near when I got long yesterday and Shoot for that liquidity there. So now we've had a straight beeline move where I know very important area You can see the zone that I drew here. So that what's this zone? This zone is the bottom of this balance area that we Borrowed down from this is a very very important area, right? So, you know when markets retest important areas they tend to fail at least temporarily Especially when they do straight line moves into those areas. So you can see we even had little balance below the balance And then this is where this dry hole directional conviction area started So this is really telling what happens here as far as the structure if we get through here. The next stop is Probably going to be right around here this 4460 area. That's the volume note of this. So again markets are This is in an intermediate bearish Short-term bullish, right? So the short term I showed you bullish But intermediate this is still bearish because we broke down from this bigger one and this one here Right and all we're really doing is returning to this right now So this is a place where this market could pause and it's still again intermediate term bearish until we can overtake The high volume note of the balance area That with the bigger balance area in a multi-week balance area That we broke down from right so markets can come all the way back retest and do that They can even retest the high volume note and do that. So until we can get through this I still will consider shorts especially now that we've gotten I didn't want to I wanted to be long here and especially That I really wanted to be long here, but I didn't do anything because I was again Put in the wrong order, but Now that we're far enough away from this structure, you're not standing in front of a puke, right? That's what you have to be careful of when you want to if you want to short You don't want to be shorting here because all the traders that are short here have to get out And that's how you have to think about it anyway But now we're so far from this structure and this structure and we're back into important area I broke down from I would potentially take a short here. It feels not good to even think about that right now, but I Just have seen this too many times where you get straight beeline moves into important areas and then it Turns around it that that we're going to do this, but we can definitely pull back Especially to you know VWAP area right before resuming upward So I the point is I will take a short here again. It feels like I'm standing in front of a freight train And most of the times those are the best trades the ones that feel the worst are the best trades So that's why I try my best to train what I see and not what I feel So, you know, so Those even on my webinars in the past I Use structure both, you know, the candlesticks structure stuff I just showed you balance areas market profile And then I use the real-time volume to confirm my areas and the setups that I use the five distinct setups to enter my trades, right? So quickly before we Go forward you can see here on the market profile. This is very important area here, too You know market profile is structure, but and then just showing you in a different way So this was a composite value area that we For blurred so 501 So we've moved all the way back these are the last few days so two days ago we're I was short on this We failed to get in one time fail to get out another time Actually, I did not go short this I take that back I but I made a playbook off of this that we're sharing with my room But anyway, this was a good sign at the time for a short try to get in this market profile composite fail Try it again fail got below VWAP sold off closed here Then yesterday Fed met that meeting yesterday interest rates We attempted to get out pull back to the inside I did to get out get out and then basically closed here and then overnight You can see we just launched right through here or right through this guy and now we're here So this is a very very important area where we could pause and pull back like I said, and here's that area They just showed you on the bar chart, right? So If we you know except in the air And I start getting some bull signals I will take along Or there's that 4460 area to the other side of this the Tennessee for markets when they get in composite profiles Does it go to the other side? But I will also take a short here if this fails because again, we've had a straight beeline move. I'd rather I've just seen this too many times again the straight move into an important area where it will fail at least temporarily So I'd rather take a short here even though it feels like you know, like I said not so good But you know, if this doesn't mean this market can't do that, right? So if I'm using my volume signals to confirm which way I want to trade here But this is one of those times again, I come up every day in my room. We go over the markets I come up with a thesis on what I'm seeing from my experience and what I think is going to happen And then I try to trade in that direction obviously, right? But there's certain times were in areas where you can trade either way and this is one of them right here I could go along if this up occurs or I can go short So then real-time buy-in Here we had a series of buy icebergs They weren't huge, but they were still threshold. This one was 713. That's this area here So that was this And I think we just got us So the stopper was inside this ice and that wasn't even threshold. I mean, it was close It was 500 but the stopper failed as well. So this is this zone is important And then we came back and you can see more buy ice. Here's another thousand same same area I can actually lower this a little bit to incorporate that So I'm gonna do Really the wrong side of that of the change. All right, so there's your iceberg zone a couple thousand in that zone So the way I determine what's up So I have five to see a setup So I have Titanic a Titanic setup when you know the market runs into buy ice or an iceberg and holds and continues that way That's the Titanic or I've broken ice So this was a Titanic setup as long as it can get an ATR above the area Then that determines what setup it is for me. So the ATR right now is you can see 5.56 points So I'm pretty sure this is going five points above So now what I'll do is you know barring something else coming in which looks like it is right now, let's see Yeah, so you had combined a file close to a thousand stop runs here This is another thousand ice. So this this could be a stopping point right here, right? So let's mark this up. Let's see So this is what we call a double whammy, right? So you have the buy stop runs So usually stop runs are the retail trader into Actually, this is a this is not a double whammy take that back you have buy stops and buy ice So this is not a very common very common setup Get this marked and then so what I want to do here is Not really interested in shorting this up here because of what just happened down here, right? But if we If this fails and gets below this this prior ice here, then I'll look for shorts And I'll look for a move down in that 16 area Because the problem is you could short this but you have this up here that help right? You had this buy ice again This was 2000 buy ice here that Obviously are winning right we moved nine points away from that Yes, this could turn into a bearish setup Um where this breaks, but you guys still got to still has to get through this area of that You know whoever sold in this area into the paper and that's that's the iceberg is It's basically hidden orders that were buying when when paper was aggressively selling When this comes back that those sellers want to get out, right? So you may see, you know Bounce off this area. So that's why I don't want to short right here Just because it's so close to this zone But if we get below this zone, then I'll reconsider if we get above this zone I'm going to go long right because of everything we just talked about How this is a really important area So we're trying to accept into this into this market profile Composite You see the prealtime buy-in if you can get above that ice zone that I just drew then I'm going to go long And I'm going to look for 44 60 is my first target if these two zones fail then I will take a short so If you want to be really aggressive you could short On the break of this right the zone here But again, this is just too close. I want to see us get below there This market's just going crazy and you can see these the underlying stocks that comprise the index the the majority that High percentage in the index like these these five or six or seven stocks the fang tea Whatever they call it Is that comprises like 20 25 of the index right and this you want to keep an eye on these this is This is a software called tick strike. I've used it for a lot of years They finally updated their software But there's other things in the work that I'll be showing you guys here in the next few weeks They're talking about that there's an alternative to this so it's a little surprise So we'll cover that at the time but for right now I'm using these and it's just helping me gauge The strength of the market, you know in my in my areas as well So you can see they just keep buying these so this goes from a one to a 15 level So 15 is max that means they're basically buying these stocks max Right, so that just helps me as well like you guys have seen in my prior webinars whether Where I usually the conservative entry in this zone, right? So if I wanted to get long here if this breaks the zone It's to wait for an atr move above which we just said was right around six points five nap points A retest then fail and then you get an half atr and then you take the trade There's times I'll be aggressive right out of the zone if all these stocks are firing off I will be aggressive right so I'll make that determination if this starts to move back up here a half atr So say three points Which is three points above this then and these are all firing off. I will hop in immediately So we'll we'll get to that if that happens. Oh, that's confusing. I know there's some newer people on here You know a lot of this things I'm talking about are pretty advanced where you'd have to be on prior webinars to Understand on that time is obviously if I'm live trading to go back and talk about the elementary stuff But you'll be able to follow here if I put this trade on So This is undetermined right now. We're still in this zone I want to see there's see a break above here and I'll go long or if we get below these two zones Then I will take a short So that's a yes Any questions on that first before I move over to I had a question, but then oh mar Also was asking about when you're talking about pullback To v-wap. Are you talking about the 24 hour v-wap or the regular trading hour v-wap? 24 hour I use in the So I put that on my five minute chart So I use the 24 hour. This is just standard thinkorswim V-wap, um, whatever their default settings are here. I'll show you Shows the deviations the two standard deviations from v-wap It's a That's about it, but yes 24 hour okay I was wondering about like looking at your volume profile. I will For for anyone who's new in here. I mean you can see what scott's doing He's looking and he has a strategy that he studied on the higher time frame And then then looking at the order flow In book wrap and really drilling into the order types within the order flow The stops and icebergs that is viewable with market by order data And and indicators from from book map that We can talk about later, but um, so are you looking for What about the point of control you're looking at the um, value area low and high from those previous Profile areas What about the point of control though as well? Yeah, I will watch that as well. Um, you know, it's not as as important to me as the The tops and bottoms in these areas, but yeah, and I'm going to show you an example of That here in another market, but yeah, we're real close to the point of control here too. So You know, I don't like just The biggest thing for me is if we accept in here, I don't I'm not I'm not looking to short the point of control Yeah, we could bounce off here, but I want to see us get back out of here if I want to short I'm not I don't like when mark again when markets accept in the market profile composites The tendency is to get to the other side So I don't want to just short here and hope it comes back and moves back out of here Right the tendency is to get to the other side. So I'll pay attention Especially if it rejects it that just gives me more Confidence that this will fail if it gets back outside of this guy, right? Okay, I don't you know I don't really fade markets at the point of control Put it that way. Okay. All right, and I didn't know if you wanted to show your Web cam or mission control. Yeah, I forgot about that machine control You got me. Oh, yeah, there it is. It's nasa Um Oh, so I was gonna show you let's see. There's another market that I think it was gold. I want to see Yeah, well, this was at the time It was looking like it was going to bounce off this point of control on this move down But this is a perfect example what I'm talking about, right? So you're if you're like, hey, yeah, here we go a straight moving the point of control I want to get long What did it do once it accepted inside this composite? We went right to the other side, right? So that's why I don't like playing fades at point of controls. I'll pay attention So again, if that were to bounce off point of control and got back out of this area Then I would then I would have been go time for a potential long, right? But I don't just blindly by voting control and you can see why this thing accepted in here and it went exactly Pretty much to the tip to the other side of this this prior composite So now whatever way this breaks out of this is going to be the next big move in my opinion We're either going to retrace this entire thing. We'll go over gold and the structure stop But we're either going to retrace it or we're going to move down to The next big one here. There was another one here that it could pause at from prior So that one was from August this one was from early August and August these two composites So that's those are the next stops down and obviously then this one's not too far away But if we get through these and then we're coming down here Um, I mean while I'm on this marking might as well look at it. We talked about this in the room yesterday How this was looking after the Fed this was looking bearish once again Yeah, this balance that built We the fact came out Tried to break out of this not only was that a fail breakout and got through the high buying note. It was a massive Selling tail which is there's a signal in itself, right? That's instant rejection and then that was also fail breakout of this guy So I told the room yesterday. I was looking short even though I haven't done it I was short and then the PMI came out and basically scratched it That was way down here, but Struction wise this was telling you something was up that this thing did that We had a fail breakout of that and you can see overnight what happened here This is the tendency this happens in all markets all the time. Here's the high buying note NQ stops December stopped by NQ 160 contracts I'll come back to that in a second. I don't want to miss the live trades showing stuff that It already passed Let's see what we're doing. All right, so this was I spread before I got on here. I drew this you can see these zones here Actually, this was humongous. I should have been all over this I forgot So we're just breaking out of the zone now, but I will go along this you can see 605 Buying icebergs and NASDAQ which is a lot That's the zone here, right? And we just basically have been bouncing around So I was looking for an ATR about breakout a year retest fail, right? So ATR right now is 20 20.76 so 21 20 not ticks points right, so It still haven't technically got a a tear and not a tear out of here Right, so that means I need to see 21 points above this zone to confirm. This is a iceberg Titanic setup, right? So that was top of the zone is 25. So I need to see 46 Right, then this is the conservative entry, right? You could go long um aggressively but First and foremost so the conservative entry is way for an ATR to confirm this is a titanic setup way for the pullback Then when it moves when it retest fails half ATR you can get in and your stop goes a full ATR Plus a few points to get out of that range below here, right? So Again, we still haven't gotten below here. I mean a full ATR above here so that we still don't really know what this is officially And if this comes back above here, and these are all firing off remember I was talking about an aggressive entry I will go along This this based on this huge iceberg that's holding right now So half ATR when I say we are 20 21 points so we're looking at 10 and a half points above here, so I'm actually glad I missed this because I probably would have done and you guys basically every webinar I've been I'm I've been aggressive every time it's done that so I'm glad I missed that trade because I would have been right Around 35 and a half, but if this comes back again, and these are firing off. I will go along We're gonna have ATR above here This is the aggressive entry, right? Or you can wait for a full ATR retest fail and then get it Those are the best entries But the problem is you might miss a trade, right? Because the I talked about all the time is about 80 of the time the market will retest this area after moving the full ATR away But 20 percent of the time it just does that and then you're sitting here Besides yourself and eating get on the trade So what I'll probably do is just do half position once if it comes back up here in these stocks That's the aggressive entry and these stocks are firing off. So watch that Check yes, it's gone here and I'll cover gold a little more So yes, it's still on the zone Let's take a quick look at Structure and as that again really important area Same look, right? So you can see this was Multi-week Yeah, that's about a week Friday to Friday balance So we broke down from this guy We built balance below balance broke down from then and built little balance Broke down hard gap down from this exact area right around this balance area and now Again short term We were bullish balance breakout balance breakout, but now we're far enough away from this now We're coming into an area where this could do this Or if this gets a little higher like if this bond if I get my signal This is what I this is exactly what I look for, right? So now we're getting that iceberg right here So this is telling me if this holds we're coming To the high buy note of this and that's right around 15 for a little higher So that's almost 100 points higher that this trade could produce Right. So again, I look at my structure. I come up with my thesis So we are basically through this zone and I see that ice So I will go along if this fails here and I start to get that ice breaks Then I'll go short and at least watch and move back in a year. So again, this is another Market right now where I can trade either way. It doesn't happen that often But this is what they call an inflection point It's either do that or do that and I'm going to base it on the real time buy Which is the most important thing you can be looking at and how it reacts So based on this huge ice iceberg, whatever way this breaks is basically the way I'm going to trade this thing Another thing you want to pay attention to is exactly what we saw yesterday Where's all the liquidity? Right here. Where do you think we're going right here that this just we talk about it I've been talking about this for two years on these book and have webinars whether it be stocks futures This is the big money. The big money gets their way It doesn't mean it's going to just straight be lying right into this right now But trust me, we will get up into this and that's exactly what we saw yesterday when I got long yesterday that I Somehow screwed up overnight That's exactly what we saw was that liquidity was in there The entire day yesterday going into the Fed. That's another thing I stressed in my room Yeah, so this this shows right here, right? So this is these two bands of liquidity. These were in here And this is going back to last night, right? These were in here Before the Fed into the Fed after the Fed so when that liquidity sits in there like that That means they want to get filled, right? They're not afraid of what if the Fed would have been the most, you know Bullish thing ever and it just would rip right through there whether they want that That that shows you they want to get filled, right? They didn't pull that liquidity before the number meaning It's a very very high likelihood We're going to get up to here Why because they'll find a way because they're the big money They're the big players and it gets as it gets closer inches up closer They'll push it into their liquidity to get their fills and you can see when I put my backward order in here Like a complete tired moron when I should have been selling there That's where we took out the first time we moved down And then we came out and took out the other liquidity Now this is where you want to be careful, right? You look at this and you're like, well, what is this man? There's a lot of liquidity. I don't pay attention to liquidity that just pops in the order book now, right? That's just algos Most of the time, right? I or it's guys trying to spoof the market so on and so forth like this liquidity I'll pay attention to because this has been in here since before the open, right? I'll pay attention to that liquidity this liquidity you can see is just algos I'm not interested in any see how polls puts it in polls like this is just games These are not games and there's the tendency for this market to go These markets to go to liquidity is extremely high So, you know in the morning when you're coming up with your thesis and you're looking at your charts and you're like, okay This is bullish. You know, this is when we're way down here Right. We gapped up overnight and we're here and you're like, okay, let's pull back I know we're pulling back to the to the top of this balance area And I know there's big liquidity up there. I want to be long, right? That just helps you with your thesis and it also helps that we pretty much always go there. So You can see there's liquidity up here. So I'm you know, I said I will get short If we break this area Will but it doesn't mean we're not going to make it up to her eventually, you know, see what I'm saying So I'm basically going against the grain because I have a feeling I don't even think I'm going to have to worry about it because I don't think we're going to get below here I think we're going to break out of this and I'll go long But I will take the short as well because it doesn't mean we're going to get there right this second, right? I know that sounds a little contradicting, but You know, I will take a temporary short if I short this it's not I don't I don't think we're going to pull back 100 points. I think we can pull back, you know 15 points and then resume upwards and then once that happens if I get another long signal I keep this in mind So the point is keep the liquidity in mind when you're doing your your overall thesis You know, trust me, you'll be on the right side of the market as you can see here. Look at this You see anything below here? nothing black There's the liquidity above here. So the odds are we're going up there and it looks exactly the same as there, right? See that Black liquidity Where do you think we're going wherever paper wants us to go paper meaning, you know, the big money analysis is the big fund Other things that I look at I don't look that I'm a ton lately here because I took these off my chart to help my book map flow easier These are the the ETFs a lot of times you can get some Good views of where liquidity is on these sometimes it's very straightforward. Sometimes it's confusing. This is not straightforward to me So you can see here Little liquidity here. There's much higher liquidity here What does that mean? Who knows, right? I mean, this this is not clear to me. So you can't really trade off it What's probably going to happen is we'll probably fill all these and then we'll come down and fill all those and I'll have the ultimate you know 40 point scale So that's an helpful that's qqq spies see if that looks any different So I'm not really seeing anything in here. There's a little bit above Right, and then this is pretty funny to watch too, right? Like you can tell this is one house Look, look at this how this like blocks off right? Disappears higher So it's like, you know, this is the same person big player big house big fund Whatever you can just see it like it cut off there and then they move it up here so Whether they get to fill or not who knows but you can see there's liquidity up here, too So I'll just I'll glance at this to take you know get in overall because there's going to be some days Well, you'll just see nothing kind of like you see now in the futures Nothing down here. You know to see bands of liquidity and you know, that's where we're headed Try to find your best point to get long based on your real-time buying samples Any questions on that first? Uh, no All right, so these are basically just sitting in limbo Remember, I will get longness Half ATR above here if these stocks are firing off Again, ATR is now it's down to 20 19.93. So 10 points above this zone I will enter them off if these are firing off. If not, I'm going to wait for a move away retest fail and then I'll go Other stuff we look at Talked about this my intention this webinar these and this is called I'll go guy and call it in my room I'll go guy. Oh, this is an exponential moving average the blue Are the is the shorter term moving averages the red are the longer term A lot of guys trade this there's there's different ways to trade this thing like when it crosses You can see and at this thing crossed it was just a trend up Other way guys trade again. I learned this from one guy that I mentored I do not I do not add things in my trading very lightly, right? The less you can have on your charts the better. That's all I ever do is preach that So you're not getting contradicting signals. I mean, there's guys You know that have 55 things on their chart and again, I there's a guy in the room the other day He's actually he actually showed me some cool things but And he's you know, he obviously has the bandwidth to look at a lot of stuff But it's still not good. He we did a playbook session So we do that in my room because that's the most important thing you can do in trading It's come up with playbooks to distinct setups that you look for and you wait for like a sniper And when you see him that's when you trade, you don't just trade to try to catch moves, right? So anyway, he presented and a lot of stuff you've talked about was valid Like I like some some stuff that I never even heard of like for instance Not have never heard of but I didn't know you can do it like I think I swim I didn't know you can do this and trading however long I didn't know you can have like a synthetic product here Where you can add you can see this is microsoft plus amazon plus facebook. So basically the fang stocks I didn't put tesla in here, but So this is like a synthetic view of All those stocks combined. I didn't know you can do that, right? So that that's one of the great things about a trade room is guys collaborate and you get you come up with different ideas But i'm very wary to add anything to my charts Without watching it for months and months and months. So back to this A guy that I mentored showed me this is how I used to trade and this is exactly the trade He would take you would wait for a pullback into the longer term moving average and as soon as it got back above the blue That's the trade he would take right. So that's another way you can trade this You know But the way I use this I don't trade this in a vacuum I don't trade anything in a vacuum, but I will pay attention. Hey is that you know, is this bullish or is this bearish? Is this crossing, you know, then you got to be careful things like that. So that's I keep an eye on that And then I mean that's basically all I use and then again, I know Bruce doesn't like the doesn't love the footprint, but I you know I use this for years and years and years and I was at best an average trader This is before book map. I just think this kind of gives you an idea You can see the relative volume coming in and you can see hey your seller's outside or the buyer's outside So I started using this again recently again I used it for years and I was now I was I had to get out of the business You know, I got back in the business when book map came around to put it that way So that's why this is not an all be all at all and you can go down a rabbit hole with this stuff But it's I like to look at it just to see the relative volume and you know what What the aggressors are doing and there's a way to look at this on book map as well But I look at book map. I have so much stuff on book map as it is. I just like the glance at this Right. So you can see here as this came up sellers sellers sellers sellers Some buying sellers You know, so they you know, these sellers were wrong. This is not a small move Let me get the prices here. I have a condensed so you can see here They've been selling this thing since basically 4410. How did that work out for them? Not good, right? So it's like they sell it. They got a puke it sell it to puke it sold more You can see this almost the exact same delta, right? So the delta is the aggressor So they were there was more aggressive hitting in the dead and obviously buying and then they were wrong And then turn around almost the exact same delta going up, right? So it just this just helps you but you can go down a bad rabbit hole with this stuff, right? But I like to keep an eye on it with my book map stuff Book map is number one. Obviously it's mine on the weather All right, so we're still in this ice zone So, you know The what when I'm showing you guys is ways I trade it by using this thing for almost two years, right? You can say, you know what this zone is important. This market's very bearish Hey, we're pulling back to the red elbow guy. Whatever you're looking at the this is remember This is the most important the zone, but you say hey, I want to get long right here, right? I don't want to do that in this situation because this is a inflection point like I said this could be a Um, this could stop right here and turn around and pull back to this stuff So that's why I don't want to do that But you can come up with your own variations of I mean the zones are the zones the volume is the volume But you can say hey, you know what Scott? I don't like Scott's method of waiting for move ETR retest fail I want to wait for the bottom of the zone and I want to give it a shot and just risk maybe an ETR below the zone And I that means I don't have because guess what if I if I get in here wait for this and I get in up here I got a risk, you know 30 plus points if you're getting in right here You may only have to risk five points and if this holds which it does all the time You know now you're risking five points to make it's going to go 30 just before it even gets into where I would enter Right, so you could come up with variations of the zone the zones are the zones So there's no there's no like there's no those are black and white, right? It's black and white that this was 500 by ice right here Right, that's black and white, but how you play these zones you can come up with your own variations I just from my experience, you know, it's it's you know It's Dangerous to be buying at the bottom of this because this could just do this But you don't have to risk much and you could be you know, it could hold and you can you can rip away so You know, there's there's different variations of playing the zones put it that way But these are the way I play them are just from my experience of watching it for almost two years now, so Just know that you can have variations to those Um, just a whole lot of nothing going on right here as we digest this area. So, you know, the longer we sit here the more likely Probably break out all we're doing is you know, this is trending markets have the tendency to do at the tendency they do do You know directional conviction balance directional conviction balance, so So what other things can we look at to figure out if this is a trend day? Well, you want to look at ADD advanced decline line. This is again standard You want to see this usually if we're going to be trending this will be over 2000 All this is as stocks advancing versus stocks declining, right? Trend day is when you get above there and it holds and it does this This is still bullish, right? We're plus 1600, but You know, this is starting to pull back a little bit. So it's not really trend day material yet. It could get there Um, and here's your little this thing that I just found out about or learned about which is kind of cool I didn't know this And I think book map is in the works of coming up with some synthetic stuff You haven't released that yet. Abby Bruce where you can overlay all these different products or have you? I'm sorry. Um, I don't understand You know kind of like you're doing with the bitcoin You guys send out an email there where you can overlay all the different exchanges so you can see liquidity I thought I thought you guys are talking about you're coming out of the functionality where you can Have a synthetic product, right? So yes Yeah, you can do that now in futures That's it's been out. Yeah. Yeah, I'll show it to you. Um, so I mean Basically, it's it's called multi book. You guys may have heard about it. Let me just give a quick overview So it just answers questions up front here If you want to look at bitcoin bitcoin is obviously from multiple exchanges each one has their own price Um, so and and own liquidity. Uh, so, uh, you know, it varies greatly So if you're looking at in finance, for example, that's a pretty big one But you want to add in others you can look at one bitcoin symbol, but Uh, it all is consolidated on the in one chart from five different exchanges The way it will work in futures. Uh, yeah, I mean you can add different Um, uh, whatever symbol you want to it in futures, but You know, you're gonna have kind of weird pricing in there So it's better to maybe do calendar spreads on rollover, for example If you want to look at like, uh, you know the es um December contract versus the, you know, the the march contract or something like that Or crude, you know one month versus the next, you know, november versus december I'll have to check that out Yeah, I'll show you it Okay, cool All right, so Again, like I said, this is a really important area and these markets are still intermediate term bearish So this is an area where this could fail and this is why I said that can go either way once again This is where this whole move started and this is where we got to right so this could fail If this ice fails, I will go short and I will watch and move back To either the top of this or the high volume now depending it could go right through here But these are two areas that can stop right the same stuff all day long so this is You know, this is 80 points away 15 to 20 area just to get back to the top of this I think that could pull back there doesn't mean we can't do this This and then this and then go get that liquidity I was showing you right But this is an area where you this is why these zones are drawn, right? So and you can see like once you learn how to draw these zones I in the middle of making a course it's going to come out one of these days I just had a lot going on But you can see how it will it will correspond with prior areas, right? So you can see this was an area where we launched directional conviction And then I kind of made this a little bigger But you had support support support support And then this was actually the bottom of this and then you had a balance here And then you had directional conviction here. So you start to see like these areas They just have confluence and they keep they continue to be important and this is one of them, right? If we get above there, that's telling you something as well And I think we're going to at least that I mind node if we get to that mind node Then the market is not intermediate bearish anymore And now it's bullish because this would be an official fail breakdown of the structure, right? So I will again in this area I will trade his way if I get the opportunity or I could just sit in this home for an hour and a half Do nothing All right, some other markets. This is really important. We just got through here So I do want to show you something from yesterday very important. We saw this I've seen this twice now in crude where and then again, this is where the Footprint can come in handy, right? So I saw it. We saw it down here this day Nothing but sellers all day long like he would not show you on the footprint here in second What yesterday looked like, but it was like negative delta every five minute period was negative negative negative negative And it kind of just sat here and I'm like, okay, and I kept trying to get long And it really didn't do any really lose that day, but it just didn't do anything that day And then we open up gap up and then that was it gone same exact thing yesterday This area here it was just nothing but sellers all day long I'll show you that here in a second and then look what we're doing Right. So now you can see this was when I got on the webinar We were right here and this was couldn't be Same thing as you see inequities where we could have paused into this or through here This thing is going this is going to be really great for gas prices not But this this thing is going to rip right We got through here. This is where this direction of conviction started. These were balance areas This is where we tried to break down. Here's we came back to slide by and no fail. This was a very big area We just got through there. So now I am looking nothing but long in crude, right And there were signals here. I had a tongue going on. I didn't take this dummy here We mean you got the of course the pullback here. So you can see This was right here Here's your 177 stop run. This is what we call one of my five setups In my SI indicator course. This is a stop and hold stop run that holds Right to hold meaning the big money comes in behind it. It's just not the buying buying of guys puking Now the big money comes in the proposal higher, right? And let's see what happened here Got a little bit below it, but we're not going to guarantee it wasn't an ATR below it, right? So the ATR is 15. It was right around that. Probably we would pull back there This number got 15 ticks below there held gone and then you got Here's your ATR above. This is this is what I talk about in crude That's the December ice iceberg seller at ES 734 compress All right now you got some Do you want any Some cell ice coming in Not huge still in this zone So once again break of the zone is going to be And what I will do here, I think I already saw this but so ATR is five five and a half five point four five So if this gets an half ATR above here and these are firing off, I'll go long less I think I already said that I know I said in the NASAC, but So meaning We're looking at two two and three quarter points We'll just say three points to make it simple, right? So 40 44 and a half would be a half ATR So if this comes up, we already know what's in this zone, right now We're talking well now we're talking probably, you know, three four thousand contracts in the zone mostly by ice But now here's some cell ice, right? This launch is out of here. I will go along if these are firing off. I will along aggressively out of here And then we're headed up to that liquidity And here we go and you see that's in December stops top by alert at ES 659 contracts. Here's 43 All right, so we're long Hopefully this doesn't turn into a dumb and dumb or set up on the stop run. Of course, I bought right on it All right, so let's let's draw this down the chin on this one What I should have done I heard that stop run go off I should have just waited for us to clear this area and so I just jumped in again because this doesn't mean it's real buying Right, this is this is a stop run meaning it's Most of the time retail traders puking I'm just hoping this can hold It was aggressive. I saw these stocks firing off. That's why I did this but When another set up's firing off you probably want to pause for a second Especially we're in an inflection area like we've talked about All right, so I'm going to cover half these until we can get out of this zone. There's no reason to take a huge loss here Because again, this is a new setup I want to see buying propellus out of here real buying not a puke So I should have just waited again. I'll keep three on See what happens here, but if this gets above this zone then it's then it's go time and I think we're going up to 60 Gold ice gc 150 contracts Gold's going to zero free gold for everybody All right, so that's what just again this is I I wanted to be I wanted to be long aggressive there and I did but then something else fired off So I want to see this clear and then I'm going to be long. I'm going to add to it We're going to add another 700 sell ice that was in this zone So let's see what happens here. So my stop for this is going to go What I was going to do and pretend this didn't happen I would've gone an atr below this plus I usually go plus a point to get out of that range Now this is a new setup. I could I'm going to trail my stop to an atr below the bottom of this zone. So Again atr is five and a half. So we're going to say six. So just make it easy. So six points below here is 35 50 Plus four some 34 50 and then it would put me outside of this zone as well So that's I like that because I don't like getting stepped on in those zones. You guys have seen webinars where that's happened So there's my stop for that three lot if this breaks above here I will add to it stops them going the same spot. I'd really like to see these stops participating to get out of this thing So again, as I've never gotten atr below here Atr is 20 20 and a half I've never got 20 points below here. It got about eight points below there Now we're trying to launch So what did I some point I said it's FATRs 10 and a half 10 and a quarter points So meaning this gets This looks like it's holding remember this is five on or by ice This didn't get an atr below here. So this is still a titanic setup right If we get above here green stops stopped by cl 301 conference That's why I wanted to I'm just showing you guys. I want to buy that All right, so now I'm getting in this as well I'm only going to put on the half right now Because this is this is I'm risking a lot more here. I'll get into that as well like as far as risk reward Like my stop is go now an atr below here, right? So I'm talking the size of the zone Which is that's 15 points and atr is another 21 points So that's 36 points plus Point data the atr. So that's 37 points below the zone. I I'm sorry 27 points below the zone. I have to go So that's not a need Three ish. I'll come back to that make sure it's accurate, but So again, you gotta you gotta make sure you're not over trading for your account size, right? If I'm risking more here, I can't be putting on full size if I have to risk, you know, 40 points on the tray But actually I could I could put on full size anything. Let's check it real quick I can cover this for you guys too Usually I have this all mapped out. It's just when I'm doing these webinars. I'm jumping from the product product So you can see here So the spreadsheet we have in my room my room So this is based on Like my account size, right? So you want to basically what you need to lean from this is two percent of your account Account size is what you should be risking for trade. That's even hot Maybe one and a half percent But if you're trading micros and you only have like a 13,000 dollar account You don't even have to change this because this is based on the full size If you trade micros, it's the same thing just 13,000 Then you put on for instance, so I'm risking 40 points right So I can have four or three on right if you're trading micros You can have three micros on based on a 13,000 dollar account So trust me if you only have a 10,000 15,000 dollar account, you need to be trading micros You're trading too big if you if you're not because I can I should And you want to be consistent with this too. You don't want to be one time putting on one another time three Based on your account size be like an algo, you know, you're putting on this year Based on when you have to risk You're risking 2% you put on that amount of size isn't and you can't change it because you don't feel like this doesn't feel right Right, just be consistent. You've got to be consistent with that stuff where you're not going to make it in this game So that's that for right now So along both equities position on here Do we get an ATR above there? No, we need to get an ATR above this stop stop. So All right, so the other market I want to buy is prude What I just showed you guys So if this turns into a stop and hold I will be along this as well So here's the stop run. You can see it on the chart here. You can see where it started. You can see the spike on the sub chart 300 300 Let's just help you determine that area much better for me Stop run and we want to make sure you incorporate all the prices We'd stop buys 264 contracts Previce for sales 155 contracts We'd stop buys 297 contracts So we it's active Go down a second So again Take the r20 points So I already went over why I want to be along this market We'll look at market profile here in a second too if I Give a chance. Notable to iceberg sales EW contracts So ATR is 15 14.76 of 15 points So meaning this could be a either a stop and hold or a dumb and dumb run We don't know until it goes an ATR below or an ATR above This market has the most propensity to retest the zone So I will let this go a full ATR above retest fail then I will get in I've learned my lesson chase, you know getting an aggressive in this market, right? This is a perfect example of one that did that exact thing, right? Here you go When we finally did get an ATR above here I don't think this first one was this one definitely was here's your retest Here's your fail you get an 1.5 ATR and you're you're already 40 plus ticks in the money And then what you can do based on these setups say you did get long off of this one If this fails then you're out because this would be a temporarily a bearish setup, right? And then just wait for your next one You don't want to see this fail if this if there's truly buyers in here This should hold and it should go higher if it fails you just get out if you're trying to have a bar chart You have no idea you're sitting here like This looks bullish to me This looks bullish to me like what I don't understand. Why why did this fail? Well, you have book map real-time this I indicated real-time I and you know exactly why it failed There's a stop run and there was no real buying behind it. That's why I fail That's pretty important information to know where you're not just sitting there holding the bag Is this thing sells back off comes all the way back and you're like well, what happened? Well, you know what happened there's 300 buy stops Is there any is there any big money willing to hold this and push it higher? Or is it just the dumb money that puked and it's going to turn around and sell off, right? Say every webinar if you do not have you're not using real-time volume in your trading You just don't have all the information period. So I'm hoping this thing can hold this nice so now Again, I wouldn't even have been in this yet because of this setup. Remember that's why I covered half of them But I'm willing to give this a shot to get higher Because again, I was playing off of this Ice zone and then this came in and this could be a dumb and dumb or the exact same thing I'm showing you in crude. That's what this could turn out to be Right, so I want to see this get above here and then I will add to this position As the course by the exact I take I'm fine with it. That was the aggressive entry again. This is still never got an ATR above here Retest fail, right? That's what you can wait for if you want to be more conservative for the entries It just seems like every time I do these webinars when I enter aggressively it's immediately In my face, but that's what it is All right, any questions first Yeah, a few questions on well your settings, I guess maybe on the ES like You know why and maybe explain like why you're looking at spikes, I guess instead of As you know, I like to look at the summation, but Maybe Cover that and then also James has a question on ATR If you can explain the ATR projection and setup So let me uh, so this and we is You can see here Monster stop runs over 500 in the waiting hands of sell ice. That's a double whammy we call right so Majority of the time This is like a stopping point right because again, it's not real buying. It's a puke and the big money is Basically absorbing the puke and saying we think this thing's going down, right? So this is all in a vacuum. We got to look at the structure and everything to determine You know if we want to short this thing, but Should use the dark dark blue for double one or for double whammy so let's get that drawn Or so if that zone fails and then in Nasdaq, I'll I will flip and go short, right? Again, this is a really important area. I'm giving it a shot If it fails, I'm going short and I think we got it. We can move down harder points down the other way. So We talked about why why that was an important area. So you can see your huge stop run 626 into the sell icebergs And there's a little buy icebergs, but this is this is a really important area Sure, I can make this a little bigger Of course, there's times of equities. I can see my and only stop that market markets All right, so we'll keep an eye on this because I'm definitely want to check that's a huge size You're going to get a big move out of here either way. So Let's just quickly look we're at on the big picture this is this is Iffy right, so This is a fail breakdown got to the high volume note, but now where are we? High volume note of where this broke down from So this is obviously bigger as well and you can actually just do one of these make this one big one right Broke down every test at the bottom remember we talked about the areas that so this was still bearish, right? Even though it came back retested the bottom of this failed It could still be bearish. Here's that Zone which is the high volume note of this it could still do that and still be bearish, right? So I will still lean even though we're out of that zone if this zone fails I will still go short this market if we get above here This is where I want to be long above 70 30. So I'm not going to go long That set up, but I will go short because if we get above this zone, I will go long. I'll look for long Hopefully that makes sense Let's see if this fails. I will short that Let's see the beating I'm taking here And I'm going to make a rule from now on in these webinars. I'm only going to enter Enter positions conservatively. I'm not going to be aggressive anymore every time I'm aggressive. It's like that's the high tick This one at least I refrain because again you saw this this Dumb and Dumber. This is now looking like it's a dumb and dumber See the ATR is the cover the ATR question ATR is still five. So did we get five cents or five points below here? Sure did. We only got about three right So this still could be a stop and hold if it gets five points below here Then it's an officially a dumb and dumber setup meaning stop run no follow through the dumb money puke failure right So we still don't know what that is Yeah, there's a few questions about ATR in here and like I mean basically correct me if i'm wrong. I just to Try to paraphrase here. I mean you're using this as understanding the market structure and the market behavior And then you're using ATR to manage your trades Right, it's just a dynamic way. So before I used to use, you know when I first came up with these setups I used to use just a set number for these products that I from watching it over and over and over the standard which is still good 80 percent of the time is 10 ticks and crew right so determine this up. So as long as it doesn't move 10 ticks below the zone So say say this move 10 ticks below the zone, which it did this would be officially a dumb and dumber Right or if it moved 10 it doesn't move 10 ticks below and then moves higher. That's a stop and hold Right. So I would use 10 ticks for for golden crude. I'd use 10 points for nasda I'd use three points for es as a standard But the more I got into it the more I started to be a little more dynamic Which makes sense where now i'm just using i'm using what the volatility is for that day Right. So that makes more sense where if the market's more volatile I want to be using what on a five minute chart I want to be using what that ATR is so instead of 10 ticks we're looking at 15 right 14.5 I round up so 15 ticks instead of 10 because it's just incorporating the volatility of the day So 95 percent of the time I use the ATR the five minute chart 5 percent of the time I will use 20 percent of the hourly so you can see 20 percent of this hourly is Round up to 60 so 12 12 ticks versus 15 When do I use this like after a number right where it's just like a one time event where the number comes out It's a big spike december iceberg cell and hue 151 contracts But if it's a one time event I'll use 20 percent of the Of the ATR for the hourly other than that i'm always using the five minutes So hopefully it makes sense and it's just a more dynamic way to incorporate the the volatility of the day It's all of this Okay. Yeah, I mean we're pretty much all caught up on gone questions Okay All right, so again if I could stop to out of this masdic I will be looking to go short especially so say for instance this does this Stops me out. We get an ATR below here, which this is an ATR below here. It comes back it retest it fails I will short this this setup right Yeah, I mean this is probably like the eighth time this has happened where I bought aggressively instead of just waiting for the retest failure Where it's literally been I take and go So that is what it is. I'll stop out of this And I'll look for a retest failure. Thank you ice december iceberg cell and hue Yeah, I'm gonna set up here to 150 is that's my threshold And this was 150 Most days, it's a little higher today 150 looks like it's Adequate let's watch me now get sucked out to the tick here and then move all the way back up Come on you can do it Let me draw this zone here real quick So like I told you guys that that was an inflection area So I should have just been conservative on that entry because again, I just got done saying for an hour That we could trade either way out of that zone, right? So when you find an area where it could go either way, you shouldn't be aggressive. You should be conservative. I'm talking to myself you know, but I'm trying to put on trades here for you guys and You know, that's not my excuse that it's still You know, I still should have been conservative, but it's a perfect example So the idea of these webinars are for learning learning for you guys, right? So that is a great learning experience when you look at a market and you say this can go either way here You certainly don't want to be aggressive. All I had to do is wait for this thing to get an ATR above this huge buy ice Retest fail like why am I being aggressive when I just said this area could go either way, right? So that's a good lesson for you guys like hey You know, I want to wait if you're using these setups. I want to wait for a retest failure. Then I'll get on the trade There's my stop. That should be it So now though I what I will do I mean, this is a new setup as well I mean, am I imagining that like seriously it's every time you guys should see in the room I sit here. It happens five days five times a day. It's amazing. Look at that All I can do is life at this point anyway, if this comes back now into this zone I can actually even see but the thing is this hasn't got an ATR boat below this zone So I'm looking right now. So let's say this comes back I wouldn't short off for this zone because we have not got an ATR below their retest fail I will short off this so retest fail So let's watch here to see that happens But I believe I call that would be stopped up to the exact tip that I not press How many times have you seen it just something as well as look at that? So I just want I just want to get confirmation I called it Yeah, yeah, you you did. I mean, I I did see it though like, you know, when you had your stop there and it didn't it didn't trigger True, but it actually traded at that exact price level But I just I just you know, I I I hear you I just try to be realistic. It's the same here in New York City when the subway trains come and and leave. Oh, I always miss the train You know, it's not true Like it just arrives when I'm walking down the steps, you know Well, it just shows up just like every other trader too, right? Doesn't every trader think that stop stop hunting is it's personal, right? Yeah, but the reason I stress it is because I'm proving it like Come in my room and watch it gets hysterical. It happens five times a day. Like look at this. I'm not imagining that At least you guys get some entertainment out of here So now I will short this if this kind of I want to see again This isn't an official we didn't get an ATR below here So I'm not going to short this zone here that just fired off I want to see a retest of this zone failure and then I'll get any no In the middle of this most recent one. I'll still short it. You got 500 bias that's underwater Maybe talk about your entry there on the short Um, well, I haven't entered it yet. No, no, I mean if you if what are you looking for? Right. So again, this was a this is now what you call broken ice, right? This is one of the five setups. So this was We were on here when I said this is huge Where are we out here? Like can I find this that spike? I Wasn't this This is the one issue here. I can never like this stuff blends in. This was a 500 I hear this, okay So this zone was off of this. This is 600 by ice Right, meaning paper had hidden 600 by ice And again, this is for example, paper is not always right. What's important is the area that is important Star works the area is important, right? Yes, paper is the big money and they usually get their way But when they're wrong, they got a puke like the rest of us, right? So that's what these setups are based off of and this is all based on my Experience as a large scalper, right? So when I was a big trader, I know how to react to trades When they would go against me and when we'll come back I'd be praying for it to get back to my area that I got in So I can just scratch the trade and I used to watch other big traders back then you can see counterparty I can see exactly how other traders used to trade. So The all my setups are based. They're not hypothetical They're based on how big traders react when they're wrong when they're right When, you know, the central central so that that's what these are based off of so what I'm doing here now This is an officially a broken ice setup, right? It's not Very high tech. It's iceberg. That's broken meaning they were wrong This got an ATR below here as you saw my exact to the tick stop out Now I'm looking for a retest of this zone, which I should have waited when I went long when I went long here I should have waited for an ATR retest here that I'm complaining about But now I'm going to wait for this this this and then I will short this off of this these guys that were wrong This zone 600 bias So I'm just praying I can get back up into this zone so I could short See if I got stopped out of ES sign and tough and ES All right, so I'm just hoping I can get up to this zone, you know, for some reason if it doesn't get up here And then this zone Whoa confusing. Let me just let me hear this right now. Even though we did bounce off this Let me just make this a different color. So people aren't confused This was sell ice as well earlier so Say for instance, we don't get up to this zone. I'm hoping we get up to this zone so I can short Right. So what I what I need to see now Here's your ATR. Here's the zone Here's the ATR below. I want to see it retest fail I'll get in a half ATR. If we don't get up to this zone. I will play off of this zone Meaning I need to see an ATR below a retest failure half ATR. I'm in Stop goes an ATR plus four, you know, a point or two to get out of the ATR zone above this zone This zone so again, I did not do I was aggressive on this entry of NASDAQ When I should have especially in an inflection area that I just said I should have waited for a full ATR Which was 20 plus points Retest failure then I get it instead. I got in aggressively and I took it on the chin So I basically bought the high tick and I sold the low tick which is Which is awesome minus the awesome part So now I'm watching here. I don't either want to see retest this zone or if this breaks I'm going to short on this one. Let's check out weed here Weets is basically still sitting in this zone Gold we didn't really cover this as far as this. There's a lot of stuff earlier that fired off But the thesis was short, right? So this is basically the last stand for gold. I already I still wouldn't buy here What we talked about earlier and that's such a fail breakout buyout Selling tail retest of the I volume node failure We got through this was basically the convoluted balance area, but still was test test test This is a balance area. This is the I volume node Did we stop at that I volume node like we stopped at this I volume node? No, we went right through it So this thing may screw around here for a little bit, but I think we're going much slower now, right? This was buying tail buying tail buying tail directional conviction. This is an important zone But this has failed. So I know I wouldn't go long off of this because we failed the structure Now I'm looking for shorter. This gets through this zone. You're going to get a monster move in my opinion So that noise is basically gold getting hammered here So again, if we get through this zone, I'm going to short this. I mean, you could have shortened up here There were signals. There's just so much going on this morning I didn't even get a chance to put it on but I will definitely short this if this breaks the zone We're coming down to MQ. I stress ember iceberg cell and Q 154 contracts Of course never retested that but buy I sound yet still could do it and Hallelujah, I didn't get stopped up to the tech. I did for the second there to torture me, but you got lower So now I'm okay with that I don't have to complain about that for the rest of the day Here comes the iceberg cell CL 156 contracts Check that in a second. Let me just get this zone out of here since there's new stuff firing off So here's some more cell ice. So this is exactly what I said guys like this was Inflection areas and now I will go short. I'm retested any of these zones Too bad. I had to take it on the chin being aggressive, but that's what it is So what I'm going to do here because this is more cell ice. I'm just going to make this one big zone Right because this is another setup So what I'm going to do here is just I'm going to do this Where's all the buyers at? I thought that this was euphoria This is a good lesson too for you guys As in girls over there These markets are still intermediate term bearish Just like we talked about This needs to be It needs to cover through that. I know for this to turn bullish that all this is doing is returning for where we broke down This is where we gap down. This is where we're struggling This thing can turn around like I said And pull back all the way to this And if it and guess what if it gets through this that's a fail breakout of that and then we're coming down here So this is getting interesting now I wanted to do here is make this one big zone. So I'm going to move this S&P December ice iceberg by alert at ES 700 to contracts All right, so what am I looking for now? Obviously, I didn't get a retest to that one zone. I wanted a short hat but Do we get an ATR it here is 21. Do we get 21 points below this? Double ice. So I'm double cell ice on the black 82 Quarterish do we get down to 62? No, those those only 16 points. So we officially did not get an ATR below here so This is not an official ATR retest fail. That's why I will get short, but I need to see an ATR below here I'm definitely going to be conservative on the south side as we all know what the habitual bungee jumps these inequities do So keep an eye on gold if that breaks a little lower. That's going to be a free fall Stopped out of my ES I mean at least I covered half of those again. This was the setup, right? This was the most recent setup. You had a dumb and dumber that failed Now we're through this ice too. These things could go be going all the way back down Yes, and I had dual bias here. So this is still in this home basically. So I'm just going to keep this. I'll just know this zone is current Right, this was bias from earlier And I had more bias in here So what I want to see now is I want to if this break I want to see this break I want to see to get an ATR below there retest failed and then I'm going to go short off of this One because this was prior to this just came in as well. So this is a big area I still I mean this liquidity is still above. So this could hold and move higher I could go long here too. This holds I know ahead Second here. It's confusing me now. I have turned that inadvertently. All right. So I'll stay a little longer. See if these zones break Any questions first? We always get you know questions and um, and I haven't asked them here We always get questions about your threshold settings, etc and you know, we just over the several webinars and basically over a year or two now don't answer these because it's it just takes too long and And this is all a part of your course too. These are your proprietary threshold levels. So I don't mean to disappoint anybody here, but Yeah, if you are like the way that Scott trades I mean his thresholds are the way that he studied the market and what he came up with So you might want to reach out to Scott Uh directly for that. You've got his email and information I put it into the chat and I'll put it in here again. Hold on I think I My trade room they get those thresholds, you know, we all It's not like I cover everything every day, but you know, you're in there long enough The best way is just get the course learn the setups learn the thresholds instead of trying to like You know piecemeal you're in there. I even tell guys in the room It's like, yeah, you're gonna learn all the setups in the thresholds eventually But do you want it to take six months? Like if you want to fast-track it just get the course It's like anything else in life, right? Learn what you're doing But if you join the trade room and you're in there, you're gonna see me using them We talk about thresholds and stuff all the time those guys in there Have the course and they'll share that stuff too. But yeah, it's just Just get the course. Do you have do you have anything? I'm not sure. I just I can't recall if you get the course Uh, do you get like a a month in the in the room for free or anything like that or they're sold separately? Uh, I do have discounts. So if you get the course you get a discount to my trade room I think it would I this is a 20% off the trade room Or if you join the course, I mean join the trade room Then you get depending on the the the term of the trade room So I do monthly, quarterly, yearly. I think it's 10 percent 15 percent 25 percent something like that So I it's either way So if you join the trade room, you get a discount on the course if you buy the courses you get a discount on the trigger Just go to my website and you can see all that. I don't know off the top of my head What the exact percentages are? Yeah, I paste it all the information in the in the chat there for for everybody All right, so atr encoders 14 text It's got 17 text below here. So this was an official dumb and dumber I don't want to short this market. So like again, I This is this is a perfect example not trading these setups in the vacuum, right? So like Even though it's turned into dumb and dumber this did retest and fail Like I don't want to go short based on everything I just showed you this right So now I'll just say okay. Well, this turns out to sell off ends up selling off and that's fine I don't want I want to just look for long setups, right? So depending on what this does here I think this is just getting started. I mean if you look at the Which is not going to get for us driving gas prices, but You look at this Let's go to the daily here. This is This is the max big area. I need to draw this on in here. Why is this a foreign area? Well This is what started this entire down move. This is a very very important area and that's not too far from here So let's draw this on real quick Again, I have a course coming out here shortly soon one of these days I'm drawing these zones in the port area because they're very very you can see like we just saw in equities how important those zones were, right? Where you want to be careful, you know, I wasn't that and then you want to get this here These are both directional conviction zones, right directional convictions very very very important What's directional condition? that That so gaps are directional conviction as well, right? but Where the directional conviction starts is very very important, so I would love for this to pull back and get a long set up in here and then trade it into the zone and cover in the zone If I get a side indicator opposite It's like a bear signal. It's not, you know, if this rips through here, then this is the next step up I still think this is where we're going up here, but very important zones So I will take along here. I would really like to see this pull back get a long signal down here get some bias or something and then I think we can easily make it to 74 Put me up here that just got put in there So it's not that important in my my opinion All right, let's So here we never got an ATR below here So even if it says this and comes back out, I'm not going to short this. I need to see an ATR Well, I consider And then this is most likely going to happen while I consider a short on a retest of this. Yes, I will That's what I was waiting for here. It didn't happen. It still could happen Yes, you are in the face of this a little bit, but it still would not be any ATR above this this most current cell ice, right meaning You got to be careful to say this was down here this black zone, which was cell ice and then you have this Some up here. Well, if this fails, that's broken ice, right? That's a bullish setup and then you're going to short right in You're going to short right into the failure of that That that's where it gets tricky if they're just and then that's when you can actually play for one of those Back and forth. We saw that yesterday. Yes in my room But this is close enough to this so we're this would not actually be failing on a retest of this Broken ice where there was 500 600 bias in here I could short this and I'm not it's not violating this at all, right? We didn't that's not an ATR above this to make this broken ice So we could go here here and then there and that's what I think it's going to happen. So we'll see But you want to watch this this could you see easily go right through here Would I go along this zone if this just rips right through here? No but if it were not based on this But I would go along if I got an ATR above this Right dropping 21 points retested this zone and then started to move up based on this see how that works Hopefully that's not confusing But this zone's done as far as a bullish setup it moved an ATR below here This we still don't know what it is. Is this a titanic setup to the sell side or is this going to be broken ice to the upside? Right, I will go along if this happens. I will go short if this happens I know may sound confusing. I mean guys trading isn't just black and white every day most times Most days these setups are just you know spot on They're not confusing. They're not on top of each other some days. They are and that's trading right I could still you can still clean some information on this and you're not making a haphazard choice I know it sounds confusing. It's like, well, wait, I'll go short here. We'll go shorter Yeah, I'm basing on this stuff and how if it gets an ATR above or below here is going to determine how I want to trade it So again the mistake I made being aggressive on this one as I never let it get an ATR above it to retest a fail Which I should have for the fifth time because I was just saying how this is an important area where it could trade either way So that was a trading error on my part and I make them all the time I'm you know, I don't make them as much as I used to you think after 23 years in the business You want to make them at all, but it's just human nature. I still make them especially when I'm on these webinars I want to you know show you guys and trade these zones like I said, but it is what it is I probably still would have taken that trade on my own So Anything else first question wise Let's see here Okay, so No, David when the the stop in iceberg Is detected and is read aloud by book map Yeah, I mean his threshold is a certain number, but it's just reading out the raw data Of what actually did transact in terms of stops and icebergs So that's that and then Can we see market share in book map? I'm not sure what you mean mark Um, no, that's it. That's it. Scott. I think that's that's everything So, you know going forward I'm looking for this zone to break This is massive massive side weed and you know, those of you out there saying I don't trade weed I don't trade brains You're doing yourself a disservice not looking at multiple markets What you should be doing is coming up with playbooks exact setups Right and then looking for real-time volume. It doesn't matter what market you're trading. It's all the same stuff It's all based on structure All the markets react to balance areas Directional conviction those areas that we've been talking about this entire webinar and real-time volume It doesn't matter what futures market you're trading And if you're not if you're just staring at one you're doing yourself an incredible disservice If you're only looking at a couple, you know, you need to have you know Some guy understands that people don't have the bandwidth to be looking at five ten markets at a time And that's fine But you should be looking at least three to five and you're just looking for distinct setups And then looking for your volume to confirm it and then you trade it So don't discount, you know this wheat because you don't look at wheat You're going to be amazed at how many times like this is huge size And whatever way this breaks is probably going to be the Again, I don't want to go long on this based on what I just showed you but I You know because I use my thesis my thesis is still all short this market If this breaks, this is going to be a huge move lower This is huge size that is invested in this area and that's what you need to know And if you're just trading off bar charts, you don't know any of that you're like what Okay, what's going on here? I don't know what to do, right? So again, the reason I don't want to go long yet this market And again, we can make this one big one This is just at the high volume of this what we broke down from I want to see this get above this And then Preferably above that that'll look for longs until then this is just to retest that by you notice that this one and the bigger one So that's why I want to be short So watching that for a short I'm going to go long crude and then the next Long signal I get here. Hopefully it pulls back and somewhere down here But if it's a little higher, I'll still go long Watch that someone above that I just showed you guys For potential stop it doesn't mean it's going to stop there for sure, right? That's what you usually so say we come up here and you get to see some stop and holds or you see some buy ice Or you just see blue bubbles right through this thing that don't get out If you see it struggling or you get a better setup then you get out, right? But just know this is an important area because that's where that stopped and that's right around 74 So that's what I look if I go long mirror look through there Gold is about to Be free gold for everybody This is in a crucial area here You can see again tail tail tail directional conviction. We're trying to put another tail in I think we're going to probably Balance here and then I'm looking for that because again we this is shown his hand it got through this Now it's probably going to build balance again trending markets do this they trend And then they don't bounce and they trend and they don't bounce trend don't bounce That's what I think is going to happen here That's my thesis if something changes and this thing rips back up Through important areas up here, then I'll change my mind, right? That's how that's what trading is you come up with your thesis you look for the volume to confirm it You trade that way if something changes you got to change your your stance right now I'm looking for that to happen and at least move down to here. So watch that today and inequities Again very important areas and there's a reason this choppy right here because like I said What's going to happen? We're going to get to this high volume node and and maybe through it or is this going to pause where this broke down the first time So far it's looking at cs same thing with nasdaq So far it's looking like You know We saw 600 by ice and that couldn't hold it that couldn't hold like what if this thing was truly bullish Why would that not hold and why would that not be retesting this high volume node right now? That tells you something So again, I will short those areas that we just talked about for a move back down to this balance area here If we get through there you want to watch the high volume node this one if we get through that one, then we're making new lows over the last week In my opinion, right one last look at the volume here and then I'm gonna hop off so Once again, if this retest this zone this broken ice 600 icebergs and fails half atr I will get in yes, it will be in the spindle the zone, but I'll give it a shot Say this never gets back up here again, and then we get full atr below and we come down get a full tear Blow this I'll look for a retest failure half atr. I'm in there short If this recovers this again, this is already done as a bullish setup because we've we've violated that This still could be a bullish setup meaning broken ice sell ice took a stand If we do this full atr this way retest this I will go along this way, right? Depending on what happens on this most recent zone That's the most recent stuff that fired off all in this area. This is done As far as but I'll still short that as a bear setup but as far as a bullish out this done But this is not done as a potential bullish setup. I hope that's making sense, right? We just don't know what this is yet because it's still in here Yet sell ice take a stand here. We already know by ice was wrong So I would prefer for this just to break play to the downside because I already know what happened here bias couldn't hold this thing up So I much rather short this but if this does this this then I'll I'll go along I'll give it another shot. It's about it. It should be to the tip, right? Yeah, there you go There you go About a tense day So all we really did here So we did have this Dumb and dumber and we did pull back remember I got along at least a cover half of mine I just took a small loss but all we did here is we retested this zone So you did get an ATR retest failure. I should be along this zone actually right here I should have I should have gotten long again. That's what I'm saying So ATR is 4.71 So five points. So all this was Yes, that's failed. But then we moved into this Two and a half points out of here to half of the ATR. I should have been long at it right around 3,950 I missed that one you could go along Aaron. You're just You know, you're costing yourself three or four points or all you do now is wait for another setup This held wait for your next bias or whatever or stop and hold and then you come on which I will do I missed this one All right Bruce. Any other questions if not I'm gonna hop off and Uh, no, sir. I think I think that's it. Um, and uh, lots of lots of questions in here And yeah, lots of lots of stuff here in the in the order flow Thank you very much Scott. I mean again like as you guys can see this is Scott does this every Thursday And this is an hour and 40 minutes Of you know, real real time, uh analysis and trading. So Anyway, you've got contact information for Scott if you're interested in more of his education or mentorship and You can come to the webinars when you subscribe to book map global plus as well Let's see Carl's asking. I can you got IQ feed DTN Offering. Oh, okay. Uh, really? Okay Well, let me know how it goes Carl. Uh, so this is new news. I guess IQ feed is offering Market by order data Yeah Yeah DTN IQ So far it's crap. Okay It's you know, it's a really it's a very challenging thing to do. I mean, uh, so Otherwise they would have done it much earlier. I mean from day one Rhythmic had it they are we're already set up for it and as soon as it came out from the CME Rhythmic already had it. It was ready to go. It was already in the works It took years for others to start to even develop indicators to understand the mbo data So, uh, yeah, we came in like three years later And anyway, um, yeah go with rhythmic Carl. It sounds like it's the not the only choice now, but the only Like viable choice it seems like so No other that's got um, no great stuff. Uh, thank you very much And we will uh, we'll do it again on next thursday All right, great. Um, you know Obviously trades weren't great made some aggressive wrong decisions, but that's good learning experience for you guys, right? Important areas you want to be more conservative. You don't want to be aggressive, right? So and this is a very important area quickly before we go you can see Nasdaq is Failing to stay in this composite. We never got to the top here and now we're breaking back down out of it That could be and move back to this stuff here that I was just showing in the bar chart So pay attention to that Yes for right now because I just forgot to come look at this stuff again with the enclosed like it's trying to hold in here So the tennessee is to go to the other side. There's that 44 60. This gets back out. Watch out Yeah, I mean another thing i'm scott. I mean I I have to reiterate this like um, you know scott went from Scalping at the highest level Possible like I can't even imagine what it must have been like scalping manually thousands of contracts To this is much much higher time frame here. So he's positioning himself Here for a much higher time frame move as you guys can see it's very very different. So just need to reiterate You know his approach now to trading and you can do this with book map you know, it's You can set yourself up for it and then once scott gets involved in some of these higher time frame trades He's layering into it several several, um, you know, he's looking for pull backs adding more It's a new setup. He's moving to stop down adding more and a new setup moving to stop down so Anyway, it's pretty it's pretty awesome to uh to see and then, uh, you know the overall trading results You have these small losses and you have these massive winners Right, that's the whole idea right trading is a percentage game Uh statistic odds game, right? So you you put on trades No one no one in the on the planet is a hundred percent. No one most people aren't even you know, 70 60 70 percent It could be a 50 percent or less trader if you're risking one Hypothetically one to make five One to make four you're going to be a profitable trader, right? And so the trades I take I'm looking for that bigger move doesn't mean I always get it So it could turn into a potential scalp based on you know, if a new setup occurs Then I'm out of the trade but my my intentions when I put on the trade This has got the opportunity for a massive move, right? It's kind of like this goal right here, right? So it's like if this breaks below here, this has an opportunity for a huge move This is 200 ticks, right? So if I put on a trader if I get a short setup I'm only risking maybe 20 30 ticks to make 200 that's almost seven to one on my money, right? So that's how I trade So I'll take small loss small loss small loss, right? And then when I hit it, it's you know when the market moves in my way Then I'm making four five that it takes me so if I catch one winner at five to one I can lose four other times and still be profitable Get it. That's that's how you want to be trading am I well go go back to that candlestick chart for just a second Scott because I just like you know Setting expectations for you know bigger moves is I just think really kind of critical Let's say let's say it does break here You know How are you looking for this to break? How many hours do you think it's going to take before it hits down into your lower levels there? I mean with gold it could happen in five minutes Stop the answer I was looking for but No, but it could it could it could take hours right it could right but the thing is you know If you're in an overnight, then that's when it gets tricky And that's when I usually take losses because I can't watch what's going on But like look at the look at this move here. This was this was on a sunday night Yeah, I mean look at us. This was like You know, this was all basically this is overnight and then we opened up and traded did nothing during the day and then just I mean actually this was the sunday night trade. This was the friday trade, but Yes, then could take hours could take that that that there though is like probably five six or seven hours at least Right, maybe or that's an hour chart It is that overnight two three four five six seven eight. Yeah, it's like eight hours even on that big move right All right, but then you manage your trades like you said like as a setup comes in Then I can add to the trade and then trail my stop or if it's an opposing setup Then I get out and then I wait for my next opportunity, right? But I still keep the same thesis I'm just out of the trade right then because the real-time volume is telling me this isn't ready to To go yet, right? And then I just wait I get out and I wait if no real-time setup comes again You know against me then I'm I stay in the trade Right Right, I mean I'll piece out at certain areas and important areas like you know market profile and stuff that we've been talking about But I'll always keep a core position on until I see an opposing setup on the book map as I indicated setups Yep Yeah, makes sense All right, so keep an eye on these again if this magic gets going I want to see this get an atr below here retest fail. I will be going short. It will be glorious Is that a movie quote as well or not? No, it's just that's my quote I think old old school has it'll be glorious. Oh, it's glory. No. Yeah That was maybe that's I see below I saw I saw I see blue That's glorious That's work Bruce. I've been lacking on the movie quotes today That's old jovial All right guys, I will uh, I'll be back next thursday and from now on I'm not being aggressive on my entries I'm sick of doing that again. I feel a little pressure to put on the chair not pressure But I want I want to show you guys the trades to just talking all the time But now I'm being conservative with my entries and that's going to help you guys anyway So that's probably the best way to trade these setups is to conserve her out anyway. So So I will see you next thursday. All right, excellent. Thank you very much scott. Thanks. Okay. See you. Bye. Bye