 Good morning everybody welcome to the bookmap live webinar We'll go through live analysis here using bookmap and reading the order flow for any trading strategy in all markets here So let me know what market you are interested in. I can cover it Typically we go over the SMP e-mini futures. Most people want to look at that. So that's where we're gonna start So here's my trading bio And you can reach out to me on our discord Bruce at bookmap or this all markets room on discord as well and The Twitter is my Twitter handle at least is at flow order Go through the disclosures and then jump right in All bookmap limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations risk disclosures trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors past performance is not necessarily indicative of future results and Then I just want to let you guys know about the blue jacket competition is going to be ending here In a few more days and we're going to start a new one in May. So sign up And I'll you know talk about it more on Wednesday but Some exciting stuff going on over here So you can be invited to a new program That we're developing called the bookmap Academy and junior Academy And I'll have more details on that though. All right, so Really interesting stuff over there. I can't wait to offer this for you guys. I think it's a really good thing for everybody for us for you Everybody here. So anyway, let's get started here. Let's take a look at these markets And let's see you want to look at gold right off the bat. All right, I do not have gold up We can take a look at gold What is the current contract for gold? That you have Good morning, Tony Now I can look it up quickly here, but I do not know what it is. All right the M contract. All right And that has the most volume and open interest. Let me just double check on that Yeah, yeah by far. Okay, cool Good to go because a gold's a little weird. Sometimes it does sometimes it doesn't So we'll take a look here. All right over in discord. You guys can hear me, right? Let me double check in the all markets room. Good morning. Good morning, everybody Slow down and can jurata can jurata and Hector. Good morning Okay Let's jump over. Let's take a quick look at it here in gold Yeah, it's just not really seeing much to be honest. Look at this main pivot point We talk about this in the market structure all the time about it really being right in here is kind of a You know two two part pivot here. Uh, maybe just go with the midpoint here, but around 2030 Uh, look at the selling down below it like this, you know, beautiful flag pattern Now are we going to get this beautiful flag pattern to the upside up into 235 or 2035 up here? Um, looks like it, uh, you know, maybe maybe at least up to 34 here, uh, but Uh, yeah, that's that would be kind of my outlook and what this means in general, uh, is uh that the um There really is no direction here At the moment. It's kind of all over the place So you can see that sellers down here. They're going to be buyers up in here. All right, so Anyway, that's what I see at the moment. All right, nothing nothing special here in gold Uh, we can take a look later. Uh, and let's take a look at the s&p Nice. I'll go here. Look at that And it pulled its liquidity here just before nine o'clock All right, uh, let's let's jump back and take a look at the bigger picture first before we, um Go any further in here and just get some uh important Levels in here and we'll start with the daily here on the left Our bigger picture candlestick chart are hourly in the middle and then our 15 minute here on the right We are within yesterday's big move our fridays big move up to the upside here We have not breached the high yet We are still just kind of basing around this area here As you can see so it is still an inside day even though it is near the highs up here Okay, the hourly chart you can see the same activity in here The back and forth in here, uh, so, um, uh 41 46 46. Yeah All right, and then up here Same same concept same same ideas in here Interesting, uh, you know, this is this is what we look at uh in terms of the candlestick patterns and and the selling pressure or the wicks or exhaustion We don't know what makes up the the wicks up here It could be absorption But whatever it is you can see there's some back and forth up here, uh, and then the move down and The basing down here, uh, the move right back up. This was this was fridays here Friday's action back up into these areas We were just looking for friday like uh boy. It was surprising The strength on friday. We were just looking for this move up into this 41 30 Uh, and it went up above it and then we were shorting or looking for shorts. Um Looking for reasons for for getting short and We we we caught it. We caught the move down Uh, and noticed it, but uh, you know, this turned into a big huge flag bullish flag here to the upside and You can see like uh, there's a lot of market structural stuff in here It came right down into this little area here at 26 and then bumped out of that And closed higher. So, uh, yeah, we're we're up here kind of just basing back and forth in here We are at a little area here at 41, uh, 44 or or so Maybe we can go a little bit lower 41 41 Or uh, we'll see, uh, but we're we're still kind of selling off here. Um at the moment Okay, that's all that's all I see at the moment But there's a lot of room to retrace here If we retrace Okay, so, uh Don't really have too much an opinion at the moment here, uh on these higher time frames But some of the areas to take a look at, uh, we want to know about this 62 area up here As well as the gap in the 40109 or 10 here, um where it it gapped up and and and continued higher Okay, so, uh, yeah, we're looking for some back and forth in here and uh Uh, you can see that the movement is to the downside at at this time Okay, so just testing that and starting to break it And let's see here Where might we go here? Well, we'd be looking for a 41 41 that we talked about. Uh, there's 40 and 39 down here as well Okay, and yeah, I'd look for the continuation into those areas here Yeah, pull liquidity here, uh, and uh, they seem to be Uh, kind of adding and pulling liquidity at this 42 50 here Let's see any other questions over here. Nope We're good. All right. Well, yeah, I think we're gonna have to really drill in uh, to be honest and uh Into you know, kind of more microstructural areas here Uh, at least lower time frames and look for some opportunities Again, we'll do this every webinar Uh, we'll look at the bigger picture and we want to know these bigger, um levels You know for you know a bigger move or like who's in control in some of these areas here If we don't see something though, we we still got to cover What we see in here and we'll happy happily go through it in here. These markets are all fractal Okay, so what you see on those higher time frames you're going to see on the lower time frames exactly the same thing Uh, let's just go through uh, maybe an example uh in here Um, we'll look at the higher time frame Okay, well up here, uh, you know hourly and 15 minute well even the daily This swing high up here We came up into these areas up in here And then now we found some sellers Okay, we uh didn't break the swing uh up in here today, so Or friday and so and now we're kind of just uh Selling off back down into these lower levels here that we're just talking about And uh, yeah Look looking for the the continuation of this move until we see something different Okay, one of the things that we do uh notice though is even in the candlestick chart Okay, we look for when these moves really took place. We know there's a lot of pressure behind them Uh, typically a lot of volume behind them And uh strong move to the upside, uh the pullback and again strong move here So we look for where did that strong move initiate? Okay, and we're just testing it right now Uh, so this is from friday, so it's kind of a zone in here, and I know it's hard to see in here Uh, I don't know really how to I guess this will help Yeah, so uh, here we go. So yeah somewhere somewhere around in here, you know, this that's why we said 41 41 uh, and uh looking for maybe a possible kind of uh Uh either a bounce back up to Uh, 41 50 or so Uh, or maybe we'll we'll break down and come back down into this swing here Uh, 41 30 to 27 somewhere around there Okay, and those are the zones I have right now. Uh, that's about all I see on this on this bigger picture Okay for today, uh, let's see Uh, you're rave someone can sell icebergs could you profit from previous buy icebergs I don't don't quite understand the question. I mean, we've got stops in icebergs here um So, uh, we just know that these are iceberg transactions Okay, we don't know, uh, how much is behind it until it fully transacts or at least cancels Okay, we can put the on chart in here, but uh, uh, yeah, that's uh, something that uh, uh, we can, uh Uh Detect here with our stops and icebergs indicator. Also our our stops, you know, we know that these are these are stops Transacting down in this area here Okay, here we go our move into 42 and a half looking for the follow through down to our 41 area But I like 40 better here based off of book map If we can see the sellers continue here The book is kind of interesting here Uh in this little zone to be honest So, uh, not so interesting over here, but starting to show some interest in here And they just stayed in the order book here at the 42 50 here and here Okay So we know that there are some buyers in here. It's not a whole lot. Uh, but we know there's some buyers in here Okay, icebergs is not showing much. In fact, uh, they're selling, uh, a little bit of sell icebergs, uh, up in this area here Uh, don't see too many buyers here on the iceberg side Okay, so yeah, we'll just continue to look for the squeeze lower here, uh into some of these lower areas here and uh Just not seen a whole lot today guys to be honest All right, so well, we can we can zoom in we can look at the much lower timeframes Uh, and see what's happening in here And just breach the low by by one tick One of the things that you know, we'll take a look at the kind of bigger The day picture here the last, um Hour and a half or so, uh or hour from 9 30 here You know, this is what we uh like to mark up and start to see where the pressures are Now this is more about price action and we had a whole webinar discussion on price action Uh, and so it's a little repetitive in here, but here it is Right these candlesticks you're going to see candlesticks moving to the downside in here Let's just put the candles on Um, and uh, this is what we want to see though is what's the volume behind that candlestick to the downside What about this retracement, which is a good retracement all the way back up to where it broke from here Uh, what about the volume up in here? Well, we we see some buyers up in here, uh, and then the sellers come in and pound it down through that area in here Sellers remain in control here until we see something different Okay, so, uh the um Our bigger picture here so far is still sellers, right? We're seeing a nice stream of buyers coming in right now. Okay off of This 42 50 level. Okay that which we noted, uh, they're getting, you know, we see that there's traders getting filled in here liquidity stained in the order book and getting filled Okay, so, uh, we're getting to move to the upside here but As we know for the um, since the open the sellers are in control of this move so far So are the buyers trying to take control here? Or is this a kind of a mean reversion trade or, uh, maybe, uh, a fade here Okay, or are we going to look for 41 50 here first and then a move right back down And well, let's take a look here. Uh, so far so good on the buy side They did break this structure and they broke this one as well Uh, so i'm looking for a little more buying pressure to see if they can get up maybe to 48 Okay, so this would be more like a flag here Okay, so, uh, here's why we're reading the order flow in here It's this area in here them getting filled You know traders getting filled in here and then we see the buyers Okay, so now we're looking for this one two three Maybe maybe 50 Maybe you can get to 50 here, but we're looking for 48 first Does that make sense? Uh, I guess, um As hard you I don't understand what analysis for for what? Uh, we're going over the s and p e many here. It's uh here and let me see any other questions here Okay, uh Kenjol rata, um interested about how book map accumulates versus distribution. Yeah, sure. Sure. We can we can talk about that Uh, and then hector, um You you want to talk about cvd resetting and sellers below the dome Remain intact. I'm not sure I quite understand Uh, I'm not much of a dome trader. Uh, that's why in fact I'm was really drawn to book map We've had some great webinars with uh with gary gary nordin who's uh, basically only a dome Uh trader, uh, so I'm I'm I know I've referred you to those already And what are you you're talking to? I think I this is a very small graphic there. Um But you're looking at your cumulative volume delta, all right So, uh, yeah, we can bring that up Take stops and icebergs off for a minute and put cumulative volume delta Yeah, I mean here's here's your divergence right here. Uh already, uh as you can see so Um and and this makes good sense in here guys like, uh, you know One of the reasons why we're seeing divergence here is because of absorption Uh at this 42 50 here Okay, and then we this is the other part of the equation in here where we need the buyers on the other side Okay, that's great that we have absorption and then maybe exhaustion on the on the on the final leg or something like that But we need the buyers to come in They're they're the ones that can lift it, right? So we need to see that they're interested And um, uh, we're looking for this potential flag pattern in here Starting to to fail right now. It just came up to here Just to this kind of 40 46 25 or I'm sorry. It came up a little bit higher 47 and a quarter I mean buyers in this small move are still in control though, right Here we can we can dig into the details here, uh, and I can go through it for you here Let's just cancel all the drawings See the see the buyers coming in Okay, we can also look at um You know, you know little little technical areas in here that are broken, right? And and look for our buyers again and in here another range in here and then buyers break it here, right? So in this case here the same fractal that I was just talking about Here we see sellers Back up above we're seeing buyers and we have technical levels here We have absorption here and that is also shown in the cumulative volume delta Okay, so you got a lot of things going here For move back up to tops of these ranges in here Okay, so, uh, I'd still like to see it. Well, it came back up to about here Uh, so that's pretty pretty nice. I still was looking for 48 Uh, but uh didn't didn't do it. Uh, it still may it's still may right. This is where the buyers came in right here All right, so uh, they they in this very small move here, they still remain in control Right in this very small move on the sell side here with this rectangle here Uh sellers were in control until they're upended right here Okay, so and that's where the buyers took control back back up above it So now what we're looking for is this to be support here Okay, makes sense So here we go. Let's see. Is it being supported? Okay, well, they're on the bid. Okay, that's good. We see the liquidity in here There's some exhaustion or there's some selling now. We're looking for a lack of selling What we need to see again and we need to see it up here. Okay, let's just drop the same thing that we just drew up Okay, we're going to look at uh, these technical levels in here This is where we need to see buyers 45 Okay, and a lot All right, let's see if we start to get it here. Uh, here's some uh Exhaustion here Still not seeing buyers yet And what also helps here is to see Absorption we see that there's support here in on the bid. That's good Hey, I would like to see something in here, uh, like exhaustion and then a ton of buyers in here. That'd be great Uh, there are many variations that we're looking for in here. That's just one Hey, we may see a lot here. For example on the bid and it gets absorbed completely or maybe, you know A few levels here and it gets totally absorbed Okay, because we want to be careful in here, uh that you don't want to be part of the the business here that They take it the other way This is also something I was mentioning gary had talked about whereas You know one of the one of the sides is going to be wrong here And we're looking for it here. We're going to look for that trap In here Okay, so it would be great to see some some sellers in here and then they just can't bring it down lower Okay, for whatever reason it might be and then here we go. Here's some sellers Some buyers now they should be able to take it back up to 45 Okay, here's our exhaustion Okay, now it's not many sellers on the hook here So we'd like to see a lot more on the hook and that will drive price higher when they start to cover Okay, so that little move that we're just looking for 45 has has already unfolded Okay, now this might turn into something bigger too. Let's take a look here. Okay, again understanding these smaller moves in here Okay, repeat. You're looking at the initial imbalance of the nq And uh slow down the delta of the volume bubbles is a pretty good way to see if buyers or sellers are currently in control Yeah, yeah, absolutely absolutely Yeah, so Now now, you know and we can mix these with our candlestick patterns in here too like uh Right now We're we got to get our buyers up here at 45 Uh, and I still we still don't see them Right, this is this is where the you know the buyers took control and like uh right now Boy, there's more selling in here Right, so okay sellers then if that's the case Then you should be able to take control and you should be able to drive it down into 42 Okay, so uh the the cumulative volume of delta like slow down is just saying right here Uh, you can you can look for that Uh, and uh you can start to look for okay. Well if we're not getting our buyers up here like we're You know watching and and assuming Uh, then we're looking for our sellers down here to try to drive it lower Okay, so they they are and uh now If that is the case And this doesn't turn into a double bottom here Sellers should be able to really drive it lower Okay 40 37 Okay, so we're going to watch this very carefully here and again very very carefully here because we're not seeing any commitment yet Okay, these are these are tricky We're going to see like if someone's going to get upended here See how we're getting our sellers in here and we were looking for that Okay, and then for them to drive it lower. Well, they might be trapped if We get this scenario of like we were talking over here Right and we start to get buyers back up above. It'll start here at at 43 50. We'd look for buyers in there There they are there. They are so they're going to drive it up to 45 Now let's see if we get our now we have these guys on the hook here So we should be able to get buyers to be able to squeeze them on up to 48 now So we were looking for that that's this scenario here So we're looking for it earlier here and then a small move Now we got more sellers in here and they failed to drive it lower and now they're upended So watch the squeeze on up into 47 50 or 48 And that's what we're looking for now. Will it play out? Well, we've got a good good possibility here Is the order book? Are they pulling here? Yeah, they are are they adding on the bid? Yeah So let's let's see if we can continue on higher Note that Starting to pull some of the liquidity at 48 or 47 and a half and bringing it down to 47 Okay, so that that kind of hampers us a little bit here Maybe it'll zoom right up in into here into 47, but we were looking for 48 earlier. This is dynamic Okay, it changed the order book changed. What's the reaction? What's the context here? Okay, we're still looking for this move up into 47 and then maybe 48 maybe 50 Okay, we're looking for our buyers now just like this scenario over here Okay. Yeah, thanks slow down. Yeah, so Slow down to showing the Volume setting in here. So if you if you click on let's go here to our volume dots here Okay make He's talking about this setting here, which is the default right is volume delta, which is by minus cell So these these dots in here are going to be either all green or they're going to be all red Okay, one or the other it can't be a combination if we go with total volume It will show like all the transactions Okay, and then all of the transactions in here Sometimes there's so many that see see how these some of these dots in here They're pie shaped or it has a slice of the pie So It's not the there's both buying and selling within this little area in here a lot of both buying and selling But mostly it is buying so you know about two-thirds of it is buying one-third is selling Okay, so Therefore we know that there's more buyers Right now the volume Delta if we go to that and and select volume delta is buying minus cell So it just shows those two-thirds basically Yeah, there you go All right guys Well, let's see what unfolded here because it's kind of funny funny price action in here We got our move up to 47 that was it. Okay We're right back down Makes sense. I mean, you know, we weren't really looking for much out of this 48 But then the the order book kind of shifted and changed in here So it went right up to 47 and they stayed in the order book here at 47. So You guys can see it see what's unfolding here BBM what's the advantage of using book map through thinkorswim? Um, so the thinkorswim book map is It's nice. It's connected to dx feed For stocks and for futures. Uh, therefore you will not you will not have any data feed costs And that's that's a very very cheap way to get book map However, uh, it depends on You know, what kind of trader you are If you want insights using cumulative, I'm sorry using stops and icebergs Market polls Many other add-ons Also, just some finer details in here You will you will need to subscribe to the book map global or global plus version Okay, it does not have all of that It is more of a kind of rudimentary version of book map Okay, so our seller is bringing it right back down guys. So again, we talked about this. This is something just so important Uh, I don't know if debba is in here. Was it debba? Um, who uh was asking about I always get in at the worst places And boy can I relate to you? Um, uh I hope that the um webinar on friday helped And we talked about uh looking at market structure and ranges. There you are debba, okay, um and You know just playing the ranges in here and then waiting for the order flow later All right. So and again, it's not I'm not a trade recommendation in here But you can see how this this works out here And now this would be a counter trend trade We're in a downtrend in the market structure Uh, we were just looking for this move up to here based on the order flow Uh, the easy thing to say, uh, and let's just Cancel all these drawings again And get rid of our candlesticks And get rid of our heat map in here for the moment just for the moment Uh, because that's what's going to give us the heat map in the context between the price structure heat map And volume dots is where the magic lies Okay, so look at the selling down here now At 42 42 and a quarter Okay, now is it being absorbed? That's this is what we need to know and this is where You know, it looks like it's being absorbed Uh here to me So if that is the case look for these big green dots right above our 43 50 or so Okay, because the sellers are failing to drop it All that selling they're going to be on the hook and they'll be buying up here Okay, so uh, uh, anyway, my point was uh, and we'll even take the volume dots off for now Uh is to understand your market structure Uh, and how important this is Okay, so, uh, we can just look at these these areas in here You're a buyer down here. You're a seller up here. That's it Okay, now Where you can make this a lot higher probability is start to understand exactly what is going on down here Do you want to take a counter trend trade? Okay, or do you want to take a trend trade up here for the move lower? Okay, I would recommend and it's not a trade recommendation. I would suggest that Always go with the trend Okay, who's in control on that higher time frame? Until you see that lower time frame overtake the higher time frame All right, so and that's what we were looking for in here For that counter trend trade when we talked about the big green dots at 45 all right Otherwise just continue to go with the trend So just look for these areas here the market reacts to these areas now the question is why Why does it react to these areas in here? Okay, well, it's it's due to the behavior of the of the participants That's why market structure is so important Uh, and uh, uh, you know start to really understand your market structure So like right now well, we have a small structure here Okay So are we going to get more sellers at the bottom of the structure? Okay, are you are you still are you bearish in here? It will if you sold up here For example, and then you're looking for a follow big move to the downside Well, you your risk is going to be you're going to get squeezed to the upside back up to 47 Okay, and that is a risk Okay, so uh, uh, or uh, you know, it's breaking the structure here And you get in in one of these little areas down in here The risk is is going to you know really go against you here And you're going to have to be a seller immediately All right, and that's how you get these nice moves to the downside Okay That and it's basically it's going to be almost a coin toss But at least you can practice and get an understanding of getting involved in these areas in here and uh Looking for more details to give you insight Okay, so this is really the key Uh, just just anyone could place a trade in these areas here. No no doubt about that Uh, but it's understanding, uh, the behavior of the participants in here for a much higher probability trade Okay, um, so uh Let's take a look at the structure though as well Okay, so what we can understand in the structure Even with just best bid and offer streaming back and forth in here Look at the speed of these moves in here Okay, so not bad Uh, in fact like uh, you know the move to the downside here and then uh, look at the buying in here Look at this pullback like kind of uh grinds over time and then we found buyers here And then it kind of grinds over time and we're finding buyers here Okay, so I am looking for these buyers to come back up to 47 here Okay, I'm we're finding them again in here and I know that there's a lot of selling in here We looked at it earlier and we can see it in the bars the volume bars down here Okay, and and we don't have a whole lot of buyers in here right now, but we look at the speed of the move Right, so we're looking for kind of a Uh, maybe a bit of a pullback here and then it to jet right back up to 47 Now We can also look at it this way Okay, so let's suppose you did buy down here Uh, where are you where are you going to put how are you going to manage it? um An easy way, uh debora is all out The very easiest way is all out at 47 Uh, and then look for the next one. Okay. Just we're just going over the market structure in here Okay, and looking at the price action and within the market structure Okay, now I think this is going to break it here. I think it's going to go up to 50 And here's why we've gone back and forth in here We've got these sellers on the hook now And it's tested up here a bunch of times and we know there's buyers in here and we know there's buyers in here Uh, so now we've got these guys on the hook. I'm looking for the move up to the top of this range here 50 All right, so in this one I probably would uh, I would hold it uh, and and and wait for 50, but my stop would definitely be a break even I'll tell you that Okay, the safe way is to take either half off here or uh, take all off and look for the next opportunity Okay, now these are just trade, uh management Concepts here Based off of what we just read here, uh, with just best bid and offer And understanding the market structure now, we're going to take it and we're going to really get into the details here and understand Market structure with volume And here we go All right, so here's our sellers to the downside Here's our move here that we we noticed earlier Okay, not bad on the buy side Look at the way that this came down here on some, you know decent selling but then look at the the buyers come right back in And now we we kind of came down again slowly a lot of transactions down here This is where we want to look into the details here Because we noted it earlier as well. It says a lot of we said a lot of selling is going on down here However, it's not really going anywhere So why is it failing to break the seller should be able to take it lower here and they can't All right, so we're looking for buyers to start to come in and lift it back up to 47 and in this case here I think there's enough buying pressure in here And in here To come up to here And then I would take some off All right Yeah tight range jack, uh, absolutely. Um, and again like we're not looking for much today uh So, uh, you know This is just we're just reading what's happening in here, uh and going through it That's all You know your higher probability trade is you know, you'd you'd be getting out there But like for this one because of what we just covered I'd be looking for a bit more out of it And I'm fine if it comes all the way back down and stops me out at break even That is the risk that I take Okay risk versus reward We're going to talk about that a lot more uh in here bon dia filizzolo filizzolo, um Yeah, yeah the one thing, uh jack. I mean, uh You know When when we talk about trading, uh And we're going to get a lot better at this in here in this room, especially Uh is we're going to talk a lot more about risk management All right, uh, and uh, we're going to we're going to Basically the one thing that we all share no matter which how we trade which strategies that we use What we all share is that we are all risk managers Okay, we all take risk it it just that's the way that it is So when when you're a trader Basically what that means is is the definition is not really trader. The definition is risk manager right, so Protect your losses take small losses give it a shot and then let the winners run Again and again and again and that's why I am letting this run here at this area here Because of what I covered I see buyers here. I see buyers here And I'm willing to take that risk to let it run up to 50 All right I know that these guys are on the hook down here. I know that there's a stop run here and I know that these sellers That are selling the low here uh Are uh, you know have the potential to be squeezed uh and uh Above 50 actually uh up to 57 And that would be the cash open here All right, and it's a counter trend trade as we as we spoke about as well but We have our reasons All right counter trend trades. This is like slow down. We had a little discussion in the all markets room Here in discord that uh, you know These reversals take a while To to for this market to kind of turn around but um This is you know, we saw one here and another here and now we have our trapped volume here So we got things on our side to take a look at for this move up to 50 Okay And that is a counter trend trade, but it has a little bit higher likelihood Uh of of playing out here Okay due to these factors And we we started a whole whole webinar off of like this 42 and a half here in the absorption down here On the bid these guys staying in the order book and on the bid now that Debra This is where the you can see we started off with something very very simple talking about just market structure Now we're adding volume within it and starting to understand that context and starting to understand the details in here about trap volume and uh buyers back up above these areas and moving it And then we're also now talking about That context of volume and this other context here of the order book Okay, so start with market structure and get really good at noticing the market structure Okay, and then look for something to play out and then look for support on the order book and volume to uh Support your ideas here All right now track that Study it Go back Okay, you're you're gonna have to do the studying. You're gonna have to do the groundwork Uh start with this example You've got one under your belt. You just made a step in your journey Now uh go find another one You can add two three four just today You can add i'm sure about you know 20 Uh today, uh, but just start Right and then once you have this start Uh now you're gonna start to look for this again and again And you're gonna become an expert at it Now you have a trading plan And then now you know you have an advantage That this will work out more than it doesn't Okay, uh, I would recommend coming to j traders webinar. Uh, also scott pulsini's Uh, we uh also um The traders lab with tom b Uh a dug. I mean everyone's doing The same thing That's that's you have to know that you have an edge Okay, so prove it to yourself You don't need to prove it to anyone else just prove it to yourself Okay, so for example like right now I would be getting out of half of my position Okay, I like to front run that liquidity because I I get impatient and that's my own deal. Uh, you know that maybe it it comes up to Maybe it trades into and through 50 here In fact, there's probably a good good possibility that is going to trade back up to to 54 57 Right like like we were just discussing But I like to front run I like to get out a little bit and I don't have to deal with like a swing That comes all the way back down here and then it comes all the way back up and then does what we were looking for Right. Uh, I know that there's going to be Some profit taking in front of this area, especially on a downtrend Uh, and we're seeing if we're going to reverse on this Uh downtrend here and Do we see a lot of buying coming in here? No Okay, it's more buying for sure And like as we mentioned here here and then also now in here And we can now mark this up too Okay So it's more buying but is it hand over fist type of buying? Well, if it is it should they should blaze right through 50 here And it should come up to 53 and 57 pretty easily Okay, and it it's still might we might get that really strong buying right now Oh, thanks Debra. Yeah, so start I I know that uh it It's it's kind of tough to to um, I come in here and um To to educate, uh Different traders everyone wants to just basically trade and just like take a pot shot at it Uh, and uh, yeah, did it work did it not and it's basically gambling Uh, and You know, if you have something that you have studied again and again, it is not gambling anymore It is it is probabilities Okay, and it's risk management around those probabilities All right, so And that's when you have an edge Okay, you are you are professional Uh, you are a professional at your specific setup All right, so Yeah, get good at something that resonates with you. It sounds like Debra like this might resonate really well with you of like, okay Let's just look at market structure. Uh, let's uh, um Take a look at uh, all right, you know Uh, it it broke this here. I and then it you know, it's back and forth in here Uh, but I'm looking for a move back up to 47. Uh, it doesn't seem to be breaking down. It should break down in here All right. In fact, let's go back and see why it didn't break down here Okay, so it's either going to be absorption or icebergs or both or exhaustion Or it could be any of those right typically, uh, it is um a lot of absorption Followed by uh exhaustion maybe on the next leg lower here. Yeah, that's just one scenario I shouldn't say typically it it really varies. Uh, we do see some icebergs in here not a whole lot Okay, but we do see some Uh, let's see 46 Yeah, very few. It's no big deal Okay, we do see some buying icebergs in here now too and we see some selling Okay, so we're not getting too much out of the icebergs down here Uh, we we're getting something out of the stops though for sure People getting stopped out down here Right now what we want to see after a stop run especially at the bottom of range in here That this this break in here, let's let's consider this This break in here It broke the range. Okay, but what is it? It stops mostly not mostly but like a lot of stops Okay, we know that that's fact. Here's our stop indicator right here Uh, let's turn the on-chart as well stops and icebergs okay, so, um So we we know that that's uh, that that's fact Okay Yeah, 350 that's a lot Uh for today Right and then not bad on the buy side. Well, there's there's buy and sell side here So icebergs isn't really telling us much Uh, but not bad. I mean the stops is good. This is this is good And now what we're looking for after a stop run Uh is uh What unfolds does it accept lower? Do we see more sellers come into the market and move it lower? And it's really back and forth in here I don't really see too much Okay, nice little cluster of buying here Not seeing much not seeing much Really, it's kind of up in here that you start to see it around 44 Uh, or maybe here, maybe you could go with this here But like this is just too tight of a range. You're only fine. You're only looking at a few ticks But the buying's good in here No doubt about that Uh, and it is this is why these these microstructural areas can still they still work concepts are the same Here it is sellers down here buyers back up above it Sellers retest only that area here and then we get buyers back up here again Look for the move up to the smaller top of the range here Uh, and they get exactly that and then a pullback and then we get our move into 47 All right, so that's where that, you know I'm starting to understand the details in these areas in here Okay of what this means this break of this range And and understanding these details in here can lead us to Look for a bigger move here up to 50 like it is Oh, thanks abby I appreciate that. Um, so, uh, yeah, and then uh, yeah, look at this Look at this iceberg up here yikes 3000 Okay, now just because it's an iceberg and it's 3000 contracts We want to see though. Did they absorb all of that buying pressure up here? We don't know Okay, we know that there's another thing here too. Not only is there a big iceberg up here There's a stop run right into it. So we have this, uh, interesting relationship up here at 50 We have icebergs selling and right into Uh, the stop run is selling Or um, I'm sorry. They are buying right into sell icebergs That's exactly what's happening right in here All right, so we have some absorption here as well Okay, right in this high level of liquidity 252 now. This is not a lot for today Again, these are really small ranges and and and you know, just well, this is what the market is giving us today So we got to go with it, right? Uh, we're we we don't know Uh, we we know that uh, this is still inside day here And we're not expecting a lot right now Okay, we were kind of looking for this 41 ish area and maybe a bounce there and we're getting it Okay, well, maybe you can come up to 55 here Right. Look at the little swing up there Let me look look back one day here Yikes, that doesn't help Yeah, we've got to go with a week We can look at less bars though Okay, that's better. Um Yeah Yeah, so see see our 55 level. I think we were calling it 57 because of the liquidity But uh, let's see if we can get back up here Let's see if the buyers have enough pressure to to to bring it back up to here Right where the sellers came in on this smaller move here. Let's put in less bars Okay, there we go Yeah, so just you know, maybe we can get up to here 55 Now, what do we have here for that move to unfold? Not a whole lot Not a whole lot in fact so, uh This isn't looking too good for it to be able to come up to a 50 or 55 level here Uh, here's why we have a huge iceberg Uh, we have a stop run here Uh, look at the exhaustion here. So I'm looking to actually for sellers on the bottom edge here Now I'm not going to sell it Okay, I might actually sell my I would probably sell my position here, but I would wait and see Uh, you know, maybe it just kind of bounces off of this range here at 48 and a half Okay, and then comes back in and then we get the the push to 55 We we might get that Right, but it's kind of a sideways date. We don't have a lot of buy volume in here We just had this massive, uh area, um a huge iceberg and we have um high liquidity at 50 and it's the figure Okay, so at this point here Might be a good idea. I would consider dumping it Okay, and uh, that would be my trade And then I look for the next one. All right, so uh, uh now, you know You can't kick yourself Uh, if it comes back up here and you see a lot of volume dots, uh on the buy side Okay, you you got to look for the next setup now If that is the case Okay, because there was a decision a decision made up here based on the the data that we had at this time Okay, now you go for the next setup All right. Now it might it might work out. This is exactly what we one of the scenarios. We just talked about So I'm selling in here buyers back up above and then the move to 55 Okay, I just don't see a lot Uh, I I see these ice the iceberg. I see the um, uh high liquidity on the offer I see a stop run. So I'm still not looking it just doesn't look that good to me Uh, the probability of this going higher. I don't see these buyers hand over fist Okay, therefore I'm going to be taking my profit And I am out look for the next setup Okay, so let's see that would have been somewhere around in here. Let's just call it, you know, 44 right On up to 50. So six points You know something like that. Uh, and then uh, actually deba if you if you got in down here You you would have gotten a lot better price than me Okay, uh, however you took on a lot more risk than I did too Okay, I I didn't have this go against me at all Okay, whereas you you know down here. You don't know You're waiting for that, uh scenario to unfold Okay, so that's something you're gonna have to grapple with uh and Yeah, to make it higher probability to be more professional with it This is something where you really need to dig into the details and and study it And know have your reasons For this to work out our buyers here our buyers here And then our sellers our stop run some trap sellers buyers back up above the area Take some off up here Or in this case, we didn't even take some off here. We're looking for a bigger move right We had our reasons why this might be a bigger move up to here Okay, and then I would have front-run it. I would have taken I would have uh taken half off here Uh 49 and a half Okay, and then I would have taken my uh other Uh position here I bound 49 maybe 48 and a half something like that All right And I have my reasons for it All right, so uh outline to trade in here, uh and uh Look for the next one Okay, now we're gonna you know again what What is really nice in here with book map and and understanding this within book map here, uh is that this is really actually very very simple straightforward data and You know, I I can't I I just don't understand. I'm kind of like a like a gary nordin. Um It just can't comprehend like, uh You know looking at Volume or volume bars. I can actually comprehend. Um, uh a lot more but looking at the uh candlesticks and you know, especially time Uh based candlesticks. I just don't understand like how What kind of information you're getting from them from them like how are you understanding? Uh, you know, who's um Uh in control or what what makes up the the volume the the Participants in in this candle here. You're just going to assume that it's a lot of bi volume in here Well, we looked at the details and we know that there was bi volume in here Okay, but it wasn't a whole lot Right, so for that reason Like uh, yeah, okay, you know, we're looking for the top of the range and then up to 50 here Okay, we knew that there were some buyers in here. We also you could see the rectangle We still have both of them buyers in here and also buyers in here on this uh wick That candle wick there. There are buyers in here Okay, this actually looks bearish here, right? You would probably be selling this down here Based off of candlesticks Is it I mean it looks really bearish. Oh that's selling pressure. Actually. No, there were it was buyers that were in here And the selling pressure it was it was a really kind of slow move back down, but it looks like it's fast, right? I how you know misguided. Are you by looking at a candlestick in here? uh and and understanding uh something so um so wrong okay, so What book map is showing is is just really simple data Okay, we can get rid of the candlesticks Uh, and we're just looking at real true price action here Best bid and offer streaming Okay, all the details are in here Okay, it's pure price action Now within that we're going to look at where the transactions are taking place That's the volume dots And then now we're going to see where are these transactions taking place with uh supply and demand meaning And you have to be careful with What I mean by supply and demand, but uh The passive orders Okay sitting in the order book here wanting to buy here or wanting to sell at some of these other higher areas here Okay, and understanding the context of these participants within that price action is going to give us so much more information All right, and that's it Just get good at that Okay, that means that you don't have to anymore look at Your candlesticks, uh and uh And then try trying to extrapolate or interpret something within here Uh, that is that was wrong in this case here. You would think this is selling pressure. It is not it is not All right, the selling was actually down at the bottom here, which is upended on the way up Okay, and then on top of that If well stops and icebergs is another this is a detail. It's a it's it's to be used as correlation or a uh confluence But if we look at our cumulative volume delta or maybe you're looking at rsi or stochastics or something like that some sort of mathematical um derivative of time price and volume Uh, I I just don't get it. I really I really fail to understand The cumulative volume delta is not bad. Uh, I like I like cumulative volume delta as it as an indicator Um, I just think that you can see it better by looking at book map and the order flow, uh, but uh Uh, I think this will give you more insight uh in some of these areas with cumulative volume delta However, you're you're trying to again understand what's going on in here by a candlestick A four data points for a time for the time period as well as an indicator I think that's very risky Uh, and uh, you know, it it makes your probabilities and your risk management has to be a lot better To withstand something like that You can make money out of it But it's a lot riskier All right, you could make money out of a mac d crossover One of the first things you probably learn in a technical analysis or one of the first indicators at least Uh, everyone tells me that at least and I remembered as well. I looked at it. Um, but um It you know Yeah, it's just uh, there's so much missing from it Right and the details uh and really understanding and and it it makes it into a math problem as well Uh, you know like oh, it did this and it did that you are totally cut off Uh and secluded from The actual auction uh and the traders and the behavior within uh the price action here Okay, you don't you don't see it at all And uh, it I think is very misguided Okay, so you want to understand the details in here Okay, and like like we read and Yeah, this is where I think you can you can get an edge. Okay, especially when you start to really dig into it and You know, you can start to read the buying pressure over time in here Uh, and then you look for not just the move to the 47 top of the range here But 50 and then also the potential for the move higher up into our 55 area or 57 All right, which is unfolding right now Okay, so it makes me you know I that's something I have to accept. I was only looking for 50. I'm out look for the next trade All right now, uh, would I buy in here? No way Is too high? Uh, well, let's take a look at it. Let's take a look at the uh The price action here and let's get rid of our candles Okay, there we go Yeah, still looks good to go higher Uh, just too much risk for me Uh, you know, this can come right back down into 50 very easily Uh, it might even might even be a trap Right, but right now what I'm seeing is I still think 50 56 55 56 Um 57 somewhere up in here Still still looks good I see more buyers in here still I see them pulling on the offer here I see them adding on the bid in the right areas All right, but uh, yes, this is uh Not not the kind of risk that I would want to take All right, uh, maybe it is though Maybe maybe that's something that you know, you're willing to uh to do is something you studied Uh, this would be like a potential flag pattern here like one two Then three Okay, nice flag pattern too. All right guys. I'm sorry. Let me get to these questions in here Yeah, jack using market polls. It's awesome. I love that tool. In fact, let's get it up here. Uh, and uh You guys will be able to hear it over in On youtube you will not be able to hear it within Discord I can try to get it. Let me see if I can play with the settings and try to get it But yeah, this tool here Uh is fantastic All right, so volume we're going to look at volume pressure in here Uh, and uh, yeah, let's look at these three There we go Maybe I should uh, also add the rustle here Okay, but what I'm looking for now is uh correlated markets To go along with this trade idea Okay, and I see selling on euro dollar you can hear that probably and let me check and see if I can get this on Discord I don't think so Yeah, I'll have to play around with it guys. I'm I'm afraid to do it right now. Uh, so, uh Yeah, sorry about that Yeah, jack. I'm totally with you on this You know, look, I mean, it's pretty dead today. I mean you guys can see Uh, you know, we're not getting much. We we just had the 6e sell off here Um, so that means dollar strength and uh, we're seeing the uh the s and p Go along pretty well with that, right? But we're not getting anything out of selling from nasdaq nor s and p right now. Okay, they're both really muted now nasdaq is starting to pick up Right, so that might be a bigger move in and uh Back down to below 50 here okay back down into maybe uh Uh Top at first our 47 level basically, uh, and then our next level would be uh, probably be down here around 45 Anyway, guys, yeah Do you guys still have more questions about uh, uh market structure? I mean I I have been um I've been talking about market structure for quite a while Uh, and and its importance how important it is to understand the structure Uh, and now that your structure might maybe it might be might be volume profile. Um You know, maybe you like that structure Uh, you know, it's a it's a good good structure to look at Uh, I I have some problems with it that I just I don't like it's not You know, I I love it. I mean, uh, I love volume profile um and market profile, but uh There's some things I really don't like about it. Uh, I think it's also a little Misguided at least for me. Uh, it does not give me the details. I'm looking for Uh, I'm looking at for these very specific details Down in these areas like we discussed and the market profile or Volume profile at least Is just mashing all of the data here and putting it on the horizontal Okay, so each price range is just adding adding adding adding adding all the prices here All the transactions here and then putting it into a profile. That's it Right now I've got two profiles here. That's good I have the Session range and then uh chart range Okay, so at least I can zoom in here and I can play off the two Uh, here's my my session range and it's I'm right out of high volume node here Okay, so um, yeah Looks like price is pretty stable here. Uh, but uh, let's take a look at my, um chart range Okay, so uh, what's in this viewable chart range. It'll give me the profile All right, so well you can see here. Well, maybe I have a skew to the downside So if I get a little more selling in here Okay, or let's say I get exhaustion up here at the top of this little range here Then maybe I'll get You could fade this outside edge Look for sellers in here now based on my profile I'm looking for them to trade not from not much of a move But I'm just looking for the move back down into 48 and it might move down to 45 45 liquidity Okay, now maybe I'm wrong and looking at this this profile here, but this is this is a weak uh a weak bottom here Okay, there's a lot of transactions just down here at this area here All right, so now Let's take a look at we've got something starting to set up in here Right, so here's our potential trap right here Let's look at 50 We're looking for now potential for our sellers coming in here And then driving it down into 48 And maybe lower Okay, here the sellers come on sellers. You should be able to looking for them to drive it a little bit lower here Bottom of the range and then 48 Yeah, this is where I mean this is like we were saying here. You have to be very very careful Uh in these little areas in here Here's why We came back up in here. Let's suppose that you're looking for selling in here It's not looking good You might get upended now And the stop run to the upside here And now what do we have though? Well, we have some liquidity here Okay on the on the offer And I'm still thinking this looks like a pretty good trap here For buyers because I do not see a lot of sellers down here therefore Not a lot of sellers here, but I'm seeing a lot of buyers here Okay, so the scenario is I need to see sellers here Okay, there they are. Okay, so let's see if they can pull away now quickly looking for sellers try to drop it down to 48 and three quarters, which would be the low of this range and then 48 and maybe 47 50 Okay, so because I have this fuel here These buyers couldn't lift it higher And they're trying Now if we can get sellers squeeze them They will be sellers down here. These buyers will be sellers down here All right, let's get a little bit more And let's see if we can get the move Anyway, that is just talking about structure and volume profile in here and Yeah, what I don't like about it is the way it mashes it up like I said And just adds it all up horizontally Okay, I really kind of view it the same as the way A candlestick will kind of vertically aggregate all the all the volume as well in a bar Right, you don't know exactly where the volume is trading in that bar Right, that's why we can get into the details here in book map You can see the structure and all the nuances in the structure And you can see the volume within the structure and you can also see the order book within the structure So you've got it all here And that that's the edge Right and being able to understand that context So you can see now our scenario played out All right, so we and now do we get a stop run to let's see I'm really curious Yeah, we did here's our stop run Okay, and we were looking for the stops to be hit down here because of these guys up here So so this worked out and it was we also had some a little bit of insight in here thinking it might be a weak bottom Right Based off the profile Okay, well if that is the case then we have our fuel here and we're looking for our sellers to drive And break through that weak bottom All right, so that would be your structure Okay, so now that would be your volume profile structure We can also look at other structure in here. We can just look at very simply, you know, we don't need the profile We can just look at this this level here Uh, and then we can look at this level here And we saw this the trap up here Okay, so this is a range Here's the buying at trapped up here. Here's the sellers moving it away. And then here's the stop run to the downside Okay right and uh, yeah For me, I would take I would take half half off there as well Okay, just at 48 likely Maybe maybe front maybe even front run it. Maybe I'd get out at 48 and a quarter I don't know And let's see if we can get more selling in here All right, stop it break even Okay euro dollars buying Okay, we're adding another confluence in here getting it's getting much more complex with the uh Correlations, this is a great tool though So anyway, Debra getting back to Debra poor Debra is going to be all confused. Um, I'm sorry just Trying to go over very simple start very very simply with market structure Get really good at market structure All right, uh, and then uh, uh, you know, maybe your structure is with profile Maybe it's not maybe it's just ranges like we're saying and ranges can also be diagonal They don't have to be horizontal Okay, so that's your trend line So here here would be your trend line Okay, and look for channels too Okay, so down here would be you know too too low Uh, this is where you might find buyers down here or It's not necessarily buyers that you're going to find down here. It's a lack of selling down here Most likely Okay, or you might find buyers. It might be limit limit buy orders down here like there are at 47 Okay So, uh, anyway, um, so Get get good at your structures market structure Okay, start there And then look for the details in here with the volume Context and the order book context in here Okay, they're all fractal. It works on all time frames Okay, we can go back to our daily Our hourly our 15 minute does not matter All right, we're looking at market structure Right, that's what we looked at very in the very beginning here for the move up around 41 And then we're looking for the move up to maybe 50 and then maybe 55 or 50 Well 56 basically here Uh, it didn't do it We're sorry. Well, it hasn't done it yet. We're seeing sellers come in So maybe we're going to trade right back down to 43 41 And then we we zoomed in here and we looked at a fractal of that And just looking for a move back down into 40 48 47 and a half All right, so you'll see this um in the in the market structure um Every tick matters in here in the in the market structure All right, so what let's uh, let me let me let me share what I mean here Okay Let's take the heat map off volume dots off Um And let's get rid of the mess Okay Every every tick matters in here. What do I what do I mean by that? Well, here's the low here Okay This actually and this little structure in here is still making higher highs and higher lows Still Okay, so now we have something in here that we talked about earlier the speed of this move Okay, now if it has volume on that as well, that's that's traders moving it away from this area up here All right, so Uh And and that's exactly what it is. We see that there's volume on it with the volume bars And the speed however this structure is still bullish here All right now it's bearish here Once it breaks here All right, so now you'd be looking at um You know, maybe uh, uh selling here top edge up here around 50 or here Uh Not here here I mean because this is the top edge right there Okay around 49 and a quarter All right And uh, and it's still trending Okay, so and again here you'd be looking at it you'd be selling here now again not a trade recommendation But market structure is what we're reading here Okay, and then you you would also sell or buy it back here Okay All right makes sense right now where it really makes sense Is when you start to put the volume in here also in the order book All right, so start with your market structure Uh and uh and get really good at it And then start to turn on these these volume dots start to turn on your heat map Uh and uh and look at the context between these elements here Okay, zoom out Start zooming out the zoomed out view Um will be really good Uh understand these areas in here Uh and uh and look for them Okay, so again like here's your pullback trade and you already took some profit on it, right? In fact if you're looking at your diagonal You would be taking your profit down here Or this this was our pullback so you'd be taking your profit down here, right? So anyway You know don't take my word for it go back do the do do do the dill do do the dill do diligence and um Prove this to yourself Okay, now look at what we're trading down into here Okay, this structure So i'm looking for some profit taking and potentially some buyers that came in here See see the buyers the speed of the move in here I know that there's some buyers in here. I can also see it in the volume bars Okay, so I know that and I know that they broke the structure here and it continued on up to the upside Okay, so uh now can they are they going to buy again? That's the question Okay, we always look at these little areas here And this is a this is a key in this small time frame. This is a key area here Okay, I would I would assume And I would look for profit taking profit taking here and then Some buying to come in and then at least back up to here. Maybe back up to here or your at least your trend line Okay, so uh, this would be a counter trend trade Okay, but you'd be looking for the move back up into here here or here This is really simple stuff Now again, it's counter trend Right, but here's our our reason behind it now. How good is that? Uh, you know, this is kind of in the middle of nowhere, but we have something right? Well, the the better move is is down here Okay, the bigger structure All right, so don't think that is going to you know Come up here and then and then you know all of a sudden they come up into some of these other areas in here We're looking at the bigger structure here In fact, what we're looking at is a rejection up here Well the rejection above 50 And up and up into here 50 almost 54 53 Uh, and then right back down into the range now the bigger range is the the the lowest here at 42 Or 41 and a half Deborah excellent. You were in the learning center all weekend. That's that's fantastic Guys if you please hit the like button, uh, this helps us a lot to continue on answering your specific questions Uh and uh getting into details here So, um, you know, we That's what we're here for Uh and and build out your trading plan All right start to understand these these elements here understand What we've been covering for years in here is understanding how these markets work When you understand how these markets work you can start to put together whatever kind of trading plan you want All right, it could be maybe you're looking at volume profile. Maybe you're looking at patterns Uh, maybe you're looking at like like head and shoulders or double tops and bottoms. Maybe you're looking at range bound trades Uh, maybe you're you're looking at candlestick patterns Whatever, uh understanding like What's behind it? What's making it work? Uh, is going to give you much higher probability It we're going to we're going to go through more and more of this. Uh, uh in the in the coming months All right, so uh, and then what you do is you manage you first off you prove that to yourself that this works That you have an edge, uh, and then you manage your risk. That's it um bbm, I would suggest you do both if you are interested in the toss version go for it Uh in the same moment. Why don't you try? Uh, you know rhythmic futures Uh and uh the desktop And compare contrast or try one one month try another in the next month and see what you like It really it depends I I can't tell you, uh, what what's going on. Um, so, uh Yeah, hit the like button guys. Let me also show you the learning center here. This is what uh, devros is talking about Uh, we just put this together. So go to the more button book map.com the more button The learning center here Okay, uh that market mechanics course that I just was just speaking about how these markets work. It's in here Okay, this course here now this course is from 2018. It is still valid This is evergreen content We have a new getting started course in here that goes through uh, how to use book map all the different components Uh, and then we have getting connected order flow phenomena We've had we've collected these over the years to understand like how these markets Basically how these markets work and interesting things in there to understand Our add-ons and then also our insights page will take you to our insights Uh site here, uh, where you can, um See other traders what they're reading here in the order flow how they've put together their plan All right So as you guys can see like our little area in even in here, it's a you know low time frame You know, we're look the bigger picture is the move down here But we also know that there's going to be some profit taking here Likely and maybe maybe some buyers supporting this move to the upside because that's this is where they really where they came Actually, it came right down to where they came in it's right here Right, it it pulled all the way back to that and now we're getting the move back back up here. All right, so, uh, anyway Uh, these are the these are the details in market structure So note that I I was looking at this first And then I was like, well, let me let me let let's take a look at the bigger picture here. This is more likely here Uh, however, I forgot to mention. I got a maybe a bit uh sloppy there This area here, this is where the buyers came in and broke out from that area That's exactly where it pulled back to it is not coincidence These sellers still they're probably the ones buying buying it back They're like, oh, thank god. It came back down. This is close enough. I'm out You know, I will cover here. I'll buy I'll buy back. I was short over here now. I'm buying it back Rob, you're working on your statistics. Okay. Uh, Rob, you know, you don't have to get um, Like what I was like telling uh, debra, uh, you don't have to get really advanced here Even like take a look at jay trader on wednesdays. He's not getting really advanced with his his data It's very very simple It's a lot of work To to track these things, but you can track it by hand. You don't in fact I would recommend it that you track it by hand because then you're going to know Uh, each nuance in here if you track this and and you know have some sort of, uh Algorithm or or program tell you that oh, I have a statistical edge in here You're not going to know what it looks like. You're you didn't do the the work by hand And that's a big difference. So you're adding that uh into your kind of uh trading quiver By really understanding what it looks like, uh, and because you're there on the field Whereas, you know, um statistical Uh advantages are good, uh, but you don't really know what they what they look like All right, so uh, uh, just keep it really simple All right, how many do will go against you? Like did it come down into that area? How many did it go for me? um You know, just uh, uh, how many points in general what time frame what was the you know, uh Uh, obviously what instrument, but um Just keep it simple to begin with Uh, and then you can always add more later, but you you do this 20 times You you already have a good start And you you could have 20 times by by wednesday or you could have it by the end of the day today Okay, but uh, uh, but continue to add to it every day All right, find something that resonates with you, uh, one of these, uh, uh ideas Deborah, it sounds like a range bound trade, uh, you know And start to go through the the details in here Uh, and then start to understand your market structure really well Okay, now now start to add in these other details Let's see here. Is it possible to get correlation? Coefficient with book map, um Uh, no, uh, not pot. Well, what you could do, um is, uh You can add a new a new chart, um and let me let me uh Let me use euro dollar as an example All right. All right. So just uh, I This is I for me at least this is something I really like Uh, I'm going to strip everything off of this chart here. Uh, and um I'm just going to look at last price in fact Uh, and then that's it And it's the white line here for euro dollar Okay, now I'm going to use the correlation tracker Okay, it's uh, it's an add-on. It's a part of global plus Here it is here All right, and now what I'm going to do is I'm going to add in here. I've already done it here It remembers my last set up here. Okay, so here's my euro dollar chart now Okay, so here's the the the nasdaq is this orange reddish orange Apple is this purple and the es Is this teal blue Okay, and now I can look at these correlations Uh, and it's always it always aligns here to the zero point right of the euro dollar Okay, and then fans out from there Okay, so uh, I take a look at some of these areas in here now you can also here So now you have something to take a look at Uh over time now you can hear it with the market polls tool Okay, when you start to get these, um Kind of insights here from the audio Uh, you you can take a look at maybe your correlations in in here as well All right, so uh, they just move up here on the nasdaq right now Well s and p is pretty flat right it has not taken part in this Okay, so is the s and p going to follow whereas the nasdaq going to um Exhaust out come back down to about here and then drop Okay, so I'm looking I'm waiting and I'm watching here And looking for something to unfold here. What about apple? Well, apple's still going higher So maybe the s and p is going to come back up to Right right up to the swing high here this little this little range in here Okay, maybe you can come up higher than that Right euro dollar is still going up to the upside too. So that means uh, you know people aren't You know putting it into dollars at the moment So all of this is kind of bullish in here. All right. So there you go. So then you would Then your your trade idea would be by the bottom edge here Of your uh s and p 500 Right, okay, and it's not working No, but that that's what you'd be putting um putting together in here You would be a buyer down here, uh, and you have your reasons with this correlation now Do you hear it in the market? No, I see uh nasdaq. It's it's not really I don't see a lot of buyers in here Nor do I with uh The es nor the there's really not a whole lot going on in here Okay, so yeah, not much going on But that's the idea. That's the concept now you you can uh, you know, right click on this up here and open this up into a new window So you can place this wherever you want On another monitor if you want to take a look at that And also have your market uh pulse tools open here okay, so If you really want to look at your um Different correlations, uh correlated markets in here, uh, and the coefficients, uh, Pedro, okay I don't it was all visual coefficients in here. It's nothing nothing more than that But yeah, you'd be Based off of all of that you'd be buying the bottom edge here Okay, and then Well, the easy thing to do is like, uh You know sell it at the top edge Okay, let me see if there's any other questions in here Thanks, jack For all your help. Yeah, exactly. It's like it's like in a vacuum. You're in a vacuum. You're Night, this worked out nicely guys like, uh, you know by understanding these correlations now. Yeah, there's risk on any trade You know, it might have all of a sudden turned around and gone the other way You have to manage that that's the trick Okay, uh, and then how did you manage the winner? Well, you took some off here at the top or all out You know I don't know Maybe you're looking for the top edge of this this little area in here Or maybe it's a bigger move on up to to Uh 50 I don't know Haven't looked at the some of the other data in here yet Yep, exactly rob pen and paper Get to understand these things. You don't need to have some sort of fancy Uh software put these stats together for you Okay, you you have to know what it what it is what the edge is. This is why Something really this is what j-trader is just he was just brilliant at Uh, he he has this moving averages pullback So he's looking for in stocks his edge And he has an edge He he knows it extremely well And his edge is very simple. He's looking for The stock to break out of a daily range chart And then he's looking for a pullback to a moving average And that's just one of the Strategies that he has because he knows that there already is a lot of buying interest is breaking out of a of a range Now he knows there's going to be a pullback and he's looking for a very simple moving average pullback That's it Okay, now do your studies Okay, now he you know, he already knows there's momentum Right, so that's like a flag pattern. You already know there's momentum So now you're looking for maybe a slowdown a pullback and then a continuation of the momentum Yeah, and then you want to you really want to get into the details rob Then that's that's later when you can look in the statistics Yeah, and in fact, that's exactly what j-trader did Now he knows like I have an 85 chance of it going higher for the day or whatever Uh, you know based off of statistics Yeah Yeah, good stuff. Thanks jack Yeah excel Rob There's another one There's a webinar by I think I even sent it to you rob. Uh, it was uh, uh futures trader 71. He did it years ago like maybe I mean more than five years ago like seven eight years ago on understanding statistics in excel Now his his was a little different He was just talking about like it opened and does it does it go Does it come back and and trade to where it opened from or you know Like how many times does it do that, you know, and then that that would be A statistic to take that he looks at right, so I'm talking about something a little bit more different But uh, uh, you can even start with something like that just keep it really simple So you know you don't get lost in your your stats That's uh, that's critical Yeah, uh rob I I'm I swear like I kind of think that You know, uh, your your comment here about your edge is no better than a gambler right now um This is this you got to fix that Um, I I I think that you know, you can even like like for example You could be a buyer up a here up a here at this this area right right now at 50 Hey, you could make money out of it if you Manage this correctly. I would never buy up here All right, unless I had something really good in the order book and volume in here Um, yeah, then then I would consider it Uh, that it would the next leg is up here to 54 53 and a half, but uh, Uh, you know, you're looking you're looking for an edge uh, and um uh However, like I'm a firm believer that You can have an edge through your trade management Okay, so let's suppose you bought up here you you're out of your trade already Okay, so you just had a small loss really bad edge up here. There's there's you know, it's not looking very good up here, right? Okay, however, like I said trade management if you get really good at that Like you can trade anything It really doesn't matter, uh, you know, you could be looking at moon phases or something Yeah, so uh that is where in fact, that might be the the the key to uh Well, first off you having an edge is going to make a big difference Uh, but then how you manage that edge makes a huge difference So, you know, I know I know that a lot of professional traders when they start training at, uh prop shop or whatever they just say, uh Get into a trade Now manage it, you know, so how you manage that trade is really the A really important part All right. Anyway guys, thanks everybody. Uh, let's uh, let's wrap it up It was we I went over I've been going over the last few days. It's not good. Tom B is up Right now. I've already edged into his time by 20 minutes. Sorry, Tom So, uh, thanks for coming everybody hit the like button Like I said, uh, just trying to get some insight on where to go with this, uh, education for you guys Uh, and uh, what you respond to and what I can do more of Uh, so, uh, that's your feedback is is important. Uh, thank you everybody. Uh, and we will catch up tomorrow. Okay Take care