 Good morning, traders. Welcome to the All Markets live order flow analysis here. I'm your host Bruce. We'll jump in the markets in just a minute here. You guys know who I am. I'm here every Monday, Tuesday, and Friday at 10am. We'll go through live market analysis here, looking at it from various angles and perspectives. I've been trading for about 15 years in a variety of markets, and I'm the order flow specialist here at Bookmap and lead the trading education. And you can reach out to me on Discord at Bruce at Bookmap. And then also my Twitter handle is at flow order. Let's go through the disclosures and jump right into the market here. Good morning, Stanislaus. General disclosure, all Bookmap limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Risk disclosure, 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. All right, let's jump in here and take a look and see what's going on. We're looking at the S&P e-mini and hold on just a moment. All right, just make sure that everything is going well here in Discord. And yeah, okay, I'm good. All right. Yeah, okay. All right, well, we can see the S&P here is at the cash open here at 9.30 selling off. However, let's get our bigger picture perspective here and where price might be going and why. So we're going to start with the bigger picture here and we're looking at daily candlesticks over here on the left, an hour chart in the middle, and then a 15 minute chart here on the right side. The daily chart, interesting chart here. We were covering this on Friday here and how we thought this was pretty easy read that it's an outside day, outside of the previous day's range. We saw tons of momentum in the hourly chart here. So what were we looking for? Well, we were looking for it to come up and fill the gap up in here, at least trade up to these areas here, maybe a bit of a pullback at that time. Let's see what time was this. It was 11 o'clock. Yeah, it was right around our time. And we're looking for it to come up into these wicks up here, right? It's going to take a little bit of effort to come up into these wicks up here. We talked about it at length. The bigger picture, we're looking for 15 to 20. I remember 42, 15 to 42, 20 in the bigger picture. Now, during the webinar, we were just looking for this to go higher until we saw something different. There was tons of momentum. It was an outside day. Therefore, we're looking for the higher move. Now, today's a bit different. What do we have today? Well, we have an outside day as well. Look on the daily chart. Price opened up up here at 42.40 or so or 39, something like that went a little higher and then it sold off. So a gap fill basically is what we're looking for in here. And this is basically saying that, well, yeah, price is up here. It's high. It had a lot of buying pressure before. It opened up higher. However, in the auction right now, we can see that, well, maybe people think it's a little too high and they're not interested in buying up here anymore. In fact, it looks like we have sellers driving it back down into previous value areas in here. Now, we're using some of this auction market theory jargon and terminology. It's really simple, though. It's like if you go to the supermarket or whatever market, this is too high of a price for now. And the market is telling us that participants and their behavior in the market is telling us that, well, they don't want to buy it up here. Well, all of this chunk in here, this is a huge range in here. And this price has been trading in this range for quite a while in here. So something happened the other day and price went higher in here. And now it broke out and maybe this is too much. Maybe it needs to come back into this range of all of this activity up here. So in layman's terms, that's what value area means. This is where price has been evaluated for many, many days. And we're looking for maybe retest into these areas here in the bigger picture. Now, let's jump over to the hourly chart and we can see a little more detail in here. Well, here's our move up above, the move back down in and continued on down now. Let's look at this area in here. We talked about our 15 and 20 level and we're already traded back down to 15. And just starting to see a little bit of a bump. See in here the wick on this candle. That means that there's some buying activity in there, at least maybe some short covering to push price tested down here. And then price has pushed down back up a little bit. What we're looking at though is this activity in here and you see this push higher, right? That's where we tested here, right there. And maybe I just need to show less bars in here. That'll probably be good. Yeah, there we go. All right, so see how it came back down and tested in here. And that's our gap actually. So almost filled completely. This would be a complete gap filled around 42, 15, 42, 13 and a half or so somewhere around there. Or I'm sorry, maybe it just filled. Maybe it's this here. Anyway, we're around there and we're starting to see some people cover. Maybe new buyers come in and maybe this is a deal to come down here. And a lot of people think that the stock market is undervalued. So it will explore higher, right? So these are some of the things that we want to, some of the questions we want to ask. But what we want to, how we want to answer it is by the behavior of others. It's not about us. It's not about, you know, where we think the market should go. And this is where Bookmap can really help you and understand the order flow or the transactions, the price structure and the order flow, okay? Three elements on the Bookmap chart. The price action is, let's just keep it really simple here. Price action, this is pure price action. Just streaming, best bid and offer. We don't have candles here. We don't need them. We can get so much more from the actual price action from the streaming, best bid and offer. And we see all the details in there. Like coming back up and testing here. Let's see. I imagine we're probably going to see some sellers up here. There were earlier at 10. All right? So let's see if we see a little bit of sellers. Where might they pull back? Well, maybe back down to about here or down to here. Okay? So to 23 or maybe 21. All right? Just by understanding supply and demand in here and the transactions that took place. Now, the transactions come with the volume dots. Here we can see how many sellers, relative volume in here. And see that, yes indeed, there were some sellers in here that pushed this market lower. And let's look at the buying that came back in that we just saw. Well, it doesn't look as, we can see it in the size of the dots and the color here. Now let's look at the bars. So there's heavy selling in here and not so many buyers in here. Right? That gives us even more incentive to look for this pullback like we just had. Okay? We were just looking for. Putting again these pieces together, understanding this area right here. And we don't even have the heat map on right now. Okay? We would look for a move here or maybe here. Okay? Where those buyers came in. Here's where they came in. Right? So that's what we're kind of looking at here. And see if players in these areas are supporting it or not. Good morning, everybody. Good morning, Jack. Or is Jack in here? I don't think he is. Tony, Rob, Ken. Yeah, we can look at the NQ. No problem. Let me continue on here with the ES and then we'll look at the NQ. All right. Because this is kind of where we left off on Friday. And understanding and comprehending these larger player activity in these areas here. Who moved the market? Okay? Look at the delta behind these moves. Okay? We've been doing this for years talking about who's in control of this market. Well, it's the sellers up here. They moved it away from this range here on high volume. Right? So sellers remain in control of this market at this time. The opposite scenario would be what if we get buyers green dots above this area here. Right? Then buyers would be taking control. We're looking for relative volume, again, big green dots in here pulling this market higher. Okay? And that might happen. We don't know. We're going to look and watch and see what the behavior of the participants is to give us insight. Okay? We know at this point here sellers remain in control. In fact, you can outline this whole area here and sellers are in control. Right? Now we just covered the opposite scenario though. Okay? And look how buyers are, they're fighting it here. Will they take control back up above here? Okay? Above 25. All right? Well, let's see. Now, these two elements in here and we're starting to really get into it a bit here. And you can look at the delta here in the delta dots and the delta bars here. This is where we, again, had covered larger player activity and market delta volume in here. And understanding these moves in here and who's in control from those points onward. All right? Now who's in control here? This is really hard to judge. Okay? Seller's in control in the bigger picture. Well, in from this point on after 10 a.m. sellers are in control. Now in here we have a battle. Okay? This is a, we see a lot of selling here. We see equal or maybe even a bit more buying in here. Okay? Looking at the relative volume. So what kind of insight do we get from this? Not much. Right? Well, what does that tell us though? Well, maybe there's an range bound activity in here or opportunity. Maybe instead of, maybe we get our big green dots up here. But let's say, let's suppose we get exhaustion up here. We don't get our big green dots up here. All right? Instead we get exhaustion on the buy side. And we get big red dots right around here. Yeah. In here, here, especially here. This is important at 22.5. Okay? And then down in these areas in here. Well, we look for the pull back or the move back down to the bottom of the range here. All right? So that, these are the scenarios we're covering and we're looking for this behavior. Now it looks like we have buyers come back in. Now we can also see and extrapolate and going through these scenarios and who's in control in these areas here and extrapolate patterns from them that are, everyone's heard of. So for example, the cup and handle pattern. Well, here it is. Here's your cup. Here's your handle. Okay, now for a cup and handle to work out and break to the upside, this is what we want to see. We want to see buyers like this, like we outlined over here or mocked up. So we are looking for a breakout here. Okay? Now, that's what the volume is telling us in here. Okay? And we're looking for the, well, where might it go? Well, there's a swing up here. Okay? That would be the first stop, second stop up here or maybe here where the sellers came in. Okay? See how much better that is to understand just these two elements in here to where price may go to test because of the volume and the behavior within the pattern. All right? So that should help assist with your patterns in here to understand like, well, this is more likely to move and go in this direction because I had the volume up here from the buy side. All right? We did not see the sellers come in here. We did not get exhaustion here at all. In fact, we got more buying up at the top here. That's why we're looking for it to at least come up here, maybe the next 28 and 29 or 30 levels here as well. Okay? And well, there's the kind of insight to where price may go. Now, let's add a trading strategy to this. Now, this is something that you'll need to go back and you'll need to do the groundwork. Right? And there's just no way of getting around it. What we're presenting in here are ideas for you to go back and take a look at. And then you need to study them, become an expert in them, know and have quantitative data behind it to give you the insight that I have an edge here and that you know you have an edge in here. Okay? When you do, then this is your pattern. This is it. You know it and like you can gain from it here. All right? So, that's something really important here because what we say in here doesn't really matter. What matters is that at least maybe you gain some idea from it by understanding the transactions, price action and the order flow in here to where price might go. All right? Now, there's one piece missing in here which we haven't covered whatsoever. And that is the opposite side of the trade. Who is taking the trade? Who are these guys trading into these buyers? Well, we want to understand that. And that's where the heat map can be really helpful here. So, we're going to turn the heat map on and understand high and low liquidity in here. Well, there was high liquidity up in here. Well, the buyers here traded into it and through it. Look at the pullback here. You could have gotten into it, what we were looking for, getting into it somewhere around in here. And then you can also get into it here on a pullback because this is still bullish. Buyers are in control now in this small time frame and also this small time frame here. You could look for pullbacks to these areas here, right? Or here, top of the range here. Here's another pullback, right? Now, this is not a bad thing to study. You're looking at, look at the volume in here. There's not too many sellers in here. You can look at the bars and get the delta information here as well. Strong delta here, not so strong delta on the sell side here. There's your pullback. And you can look for this to continue. So we just went over like two or three different trading strategies in here and looking for the setup in here. Now, your trade management and you going back and studying this and verifying these areas in here over many instances is where the match is going to happen for you. And then you will own this. And then you can take this and trade it all day long in variations of it. All right, so trade management around some of these areas in here. Well, we've gone over it many times in the past as well. But what you, you know, if you're looking in here and entering long in here due to what we covered, where do you put your stop? Where do you, where do you put your take profit? All right. So anyway, and you're buying at the top of the range in here too, because you're looking for this breakout, you're looking for this cup and handle to work out. And it's worked out really well here. In fact, it's even blown through our 29 and a quarter level up here or 30 level here. Okay, so I would look for taking some profit maybe up here as well. It's up to you on this. Okay, if maybe if you did the groundwork and you looked at it here and you have the numbers behind it, you find that, well, this works out really well and goes a certain amount of points on average. All right, well then, you know, you don't need to take a partial profit in some of these areas in here. You can let it run. All right, you look for a full move. This is where not only having the trade strategy but wrapping the trade management around it is going to be really helpful. All right, so many different ways to slice and dice it here. I like to get in take some off. I would have taken some off up here at 26 and three quarters or so my first line and I would let the rest run. I may have taken profit up here but most certainly I would take some profit up here. All right, and it's not because it's pulling back. It's just like this is a nice move. It has done a really nice move and I'm looking for it to for people to take some profit and looking for maybe some sellers. Maybe it's an opportunity here where sellers came in and move this market lower. All right, now we can we can repeat this process and come back in here and look at this and say, all right, here's our breakout. And now who's in control sellers were in control here we outlined that whole area and buyers took control back up above it, like we outlined here. Okay, so we can look for pullbacks buyers remain in control from this point on in this timeframe. All right, so we can look for pullbacks to here and there it is. Now we're seeing a little bit of a battle here. Okay, a lot of selling coming in but a lot of buying coming in right now to right into this area here. Okay, so a little dangerous right now we don't really have too much insight right now of what's going on. Okay, so we see buyers and sellers in here. All right, so we don't see much of an edge right now. Let's see 30 break and hold be bullish. Okay, Roy. Yeah. Well, it broke it but we're right back down again here. And let's look again at like, you know, the delta in here and start to understand it. Okay, positive Delta on the way up. Pretty big selling coming in here. Okay, and this is I've been covering Delta a lot we've been coming in for years I'm just calling it Delta now and we're covering it because a lot of a lot of people trade footprint charts. They look at the Delta and let's go through it then and let's call it what it is and then start to put this together into different strategies. Okay, and now the distinction between us and footprint charts is the details in here. So much more that you can see than your footprint charts. So much more all these nuances in here and price and volume and liquidity especially liquidity. And that's the number one thing missing here from the footprint charts. Footprint charts don't show liquidity. It does not show the passive orders. Understanding the passive orders is a tremendous help. It's not just about volume here. It's about the other side of the trade to right so it's really important to understand. It is a massive has a massive influence on price. It can't technically move price but it can stop price from moving. If there's just a wall of liquidity and there's not enough aggressors to trade through it. All right, so anyway the so yeah we see that selling pressure was able to bring it all the way back down now. Okay, back down below 25. We would look for a bounce here because buyers took control in here. Okay from this this new structure here. Well sellers were able to push through it and we saw that happen in here. We saw this back and forth in here right and that's where it was hands off. We don't know. There's a there's a kind of a big battle going on in here and we didn't get too much clarity. Okay, well we don't have clarity. We don't know who's in control. We can stand back. I'll let them battle it out. We're looking for the victor in here. Okay, and then going that direction. Captain Price. Okay, you saw two nice setups going both ways. Excellent. Yep, excellent. All right. Let's see here. Well that was a lot just off the bat here. It's always so much to look at. It's almost always. It's amazing stuff. The transparency that we have in these markets is pretty amazing now. Some of these new tools. All right, well you can see the 15 minute chart the move move down the move back up the move back down again. So we're kind of right in the middle here and not seeing too much. Overall like you know we still see a bit of momentum to the downside I would say that on the the daily opened up up here. You see it's a red candle the hourly. It's still red but there's wicks on both sides. And then the 15 minute there's more red and wicks on both sides last last half hour but yeah it looks like sellers want to take it a little bit lower here maybe maybe down to about 12 or 13 here. About down to this swing and now see see you again now. Where did the buyers come in? We can look at these charts as well and start to understand that and that's when we can look at the order flow and put the pieces together. So for example, yeah it's the this candle in here and the move higher. It's also here. Now this one's a little interesting because like it moved up but had an equal force back down and then it moved back up and that's where we found the buyers take control here. So maybe that that's why we're kind of looking for this test into this kind of 12 and a half area here by sellers to hit into that and test it. And again same ideas like look at this really really strong move and then pause here in the 15 minute chart and then a really strong move. There's your flag pattern. And we just looked at what a potential. No, I didn't look at a potential flag. I looked at it earlier with somebody. Okay, so another area. I mean this is where those buyers came in. This is where those buyers came in. So these are some of the considerations in here and understanding the price structure and the transactions on your on your candlestick higher time frame charts. And this works on all time frames and all markets. All right. Okay. All right. So yeah, our idea wasn't bad. We were looking for the kind of 12 and a half, 13 level and look at the sellers that came in here and they just broke the lows here. All right. So now we're retesting back up here. And again, what are we looking for in here? Who's in control? Okay. Well, sellers remain in control. Look at the Delta. Look at the bars. Look at the green dots and the red dots and compare. Look at this one here. There's high liquidity here at 20 on the offer and they're still there. Right. So there's not much volume. We have sellers lined up here at 20. All right. So what we're looking for in this scenario then, we'll go over multiple scenarios, but the primary scenario here to look for is we're looking for red dots here. Okay. Or exhaustion up here. Very little green dots up here. Red dots here. And then we're looking for the red dots to carry this on down. Okay. Now the first stop would probably be right around here to be honest. And you could take some off. Maybe if you see that red, those red dots continue and the price movement continue, then you can hold for the bottom of the range. All right. So let's cover another thing. Now we're not getting that at all. We're seeing buyers and they took these guys on here at 20 right here. Okay. So these sellers in here, they transacted with these green dots, these buyers here. All right. That's good. That gives us some insight here. Now the question is, do we still see more buyers? Okay. Because we don't, we don't want to just short because we see this here. It's after this is what we want to know. And there's still more buyers here. Okay. Now I'm still being very kind of careful here because of this. This is where the swing took place. And what if this, see that, see that buying in here? These are, these are maybe new, new traders coming in and they are, I do. No, no, I'm sorry. I see some stops here. What if they can get trapped in here? What would that scenario look like? Again, it would be like lots of green in here and then red down here. Okay. And then pulling it away. All right. We're not getting that scenario at all. We see the, the green dots back up above this range in here and they're starting a new trading range. All right. Buyers are now playing with taking control here above this 21 and a half level here. Yeah, 21 level here. Okay. And they are, they're taking it higher up to 24. Maybe they can get to 25. All right. There they go. All right. Now, so what's important here though is to outline the scenario. This was our primary scenario here. Okay. And it didn't, it didn't work. We're looking for it over here. We're looking for it here. I didn't have time to cover the secondary scenario and that is this one. We're looking for our big green dots back up above taking control above this market here. All right. Okay. Any questions here? And let's go over to Discord. Good morning, Trader Pete, Stan, Hector. Good morning, everybody. Again, you know, this is, I think something really important to do in here is to cover these markets as objectively as we can. We know that there was a lot of sellers in here. We know that there was not a lot of buyers coming back here. This is a low volume pullback into these areas in here. Okay. And we're looking for the sellers to come in and we didn't get it. We got buyers and they came back up above here. Right. But the battle is still on here. The sellers are bringing it right back down. All right. So we're trying to get some insight again in here. Who's in control? And it's hard to judge right now. It's kind of all over the place. We see that the buyers were able to lift it even on less volume than these sellers in here. Okay. So the low volume pullback is still breached here and went higher. Now we see the sellers come back in though. And now how do you, let's go over how can you protect yourself in this scenario? Because the primary scenario is looking for this continuation. Strong move, pullback, strong move to the downside. I think someone like Jay Trader is a shining example on how to manage something like this. Just get out. Okay. Now we didn't look, we're looking for an entry in here. We never got one. Okay. We were looking for one and outlining it here and we never got one. So we never were really engaged in the market. However, let's suppose that we did and let's suppose we became the trapped volume. We can go through another scenario in here and maybe you, maybe I'll use this tool instead. Hold on. So maybe what if we got our big red dots down here? That's not what I'm looking for. What if we got our big red dots down here? And then the market pulls away and starts to move higher here. Everything was looking pretty good for it to work out. Right? We're looking for that. And it didn't pan out. Right? We're looking for it here. We're looking for it here. This was the setup. We had our reasons behind it and now the protection. Where do you place your stop and how do you manage it? Okay. Just take your stop and look for the next setup. That's why the first thing that's important is to study and to verify these trades and have quantitative data behind it. Quality quantitative data here that you have good examples, good, clean, clear examples for you that you understand what's going on in here. Right? That will keep you out of trades and that will help you manage the trades better too. So it's important to just not have the quantitative data in here. It has to be qualitative as well. Right? And that will keep you... Well, it'll make your knowledge of the specific setup you're looking for much, much higher. Okay. It'll keep you out of trades. It'll allow you to take a quick stop and just look for the next one. Like I said, Jay Trader is a great example in here. He'll be on tomorrow and it's with stocks. He just cuts the trade and he doesn't let it bother him. Cut the trade, look for the next. That's it because it will happen again. Especially, I mean, if you've done your homework and your back testing. All right. Let's see any questions in here. Best point for entry. There's many different ways to enter CZAR. You know, like we were talking about being a pullback, entering on a pullback or maybe entering on the breakout or maybe it's a range bound entering at the bottom of the range. You know, there's many different ways to do it. Let's just cover a few in here. Okay. So now one thing that's really important. No matter what you do, you're going to have to take risk. If you're waiting for like something to work out to give you more insight, maybe it's higher probability, but you might have to take more risk. Okay. Or let's suppose that you're just trading at the bottom of the range in here. Well, as you know, here's the bottom of the range. All right. Well, I want in. I want to dump it off at the top of the range. Well, very little risk. It looks like, and it worked out, but there's still a huge risk. You don't really know. You know, this is maybe, maybe all of a sudden the sellers come in here and dump it at that point and come right down into this liquidity here. Okay. So the risk may be even bigger than in that case. Okay. Instead, if you wait and look for the setup to work out and you have higher probability looking for those red dots in here, looking for this to pull lower. Maybe you're getting in kind of like mid range or bottom of the range in here. And you know, your stop has to be up here, but more, you know that more often than not, if you wait for this, you usually get the move. Right. So that's how to look at it here. Now, you know, like I said, there's always risk. This is something you cannot avoid. Okay. How you manage that risk is the magic. Okay. And how do you manage, what's the best way to manage that risk? Well, if you know that you have a basic setup that gives you an edge, now manage it. All right. So there's just two things we're covering here for a trading plan. Number one is determining an edge. Okay. Quantify it. Secondly is management around it. I mean, like, look, I mean, like this could be a range bound trade up here. I don't see really control here or control there. Maybe a bit more on the buy side here. So, well, then, you know, maybe it's a, you're looking for a pullback, you know, into here and you start to see those buyers. You can dump it off at the top of the range here. Right. You still got to take risk. Right. It would be a small scout, but the idea is the same on, on any, any time frame. Okay. Maybe, maybe you're all out. Maybe you're all in down somewhere in here. You're all out up here. Okay. Because you're kind of going with the momentum here on a very small time frame here. So it's, you know, now that's less likely to work out because of the time frame. Right. But you can see it in here. See, see the volume in here. Okay. The delta. So you'd be looking for maybe being a buyer and just, you know, trying to take it up here to the top of the range. And that's it. Now, see this guy over here. This is something we covered on Friday, I think, as well. Look out. We don't know when this guy is going to come in or when these players come in and drop it like this. Look for, I'd actually look for it right now. Here's our exhaustion right there. Here's our sellers. Let's see if they can drop it now. Okay. First liquidity would be here at 19, then 18. Easy setups were earlier. Yeah. That's usually the case. Captain price. Usually the, you know, we get these momentum plays, continuation of momentum plays around 10. And then around 1030, it starts to get a lot more difficult. Yeah. And it's all over the place. Yeah. You use divergence. Okay. I'm not a big fan. You know, I just, I've been burned by it too many times. I just like to look at the, the relationship of volume, price action and liquidity. Okay. Stops and icebergs are in the sub chart down here, which I like because again, it objectifies the, the, the market for me. I know that these are stop orders here. People are getting stopped out likely on the way up and getting short skinning squeezed. Okay. Now, you know, we, we outlined this now. Now I'm looking for the longs to get squeezed in here. Okay. And let's see if we can get that this move to the downside right now, right here. Okay. So what are we looking for? We traded into high liquidity here already at 19. That's good. Okay. Now what, what about the, after that transaction? Well, actually price didn't go through it. Now here's some exhaustion on the buy side right here. So do we get another red dot here? If so, I'm looking for the move lower here. Okay. So there's 18 already. Let's see if it can continue now. There's some exhaustion. All right. Come on sellers. Let's see a little bit more selling here. And then the move lower and maybe down to 15. What do we outline? I think 12 and a half or something as kind of gap fill ish area. Well, they're down here. Okay. That was short lived. Okay. Now, if I were got, got in and in one of these areas in here and took it down here. Well, I don't even, I don't even know if I would take that. It would be maybe a scalp, but like, I'm looking for those sellers in here. We had our exhaustion here. That looks good. We didn't get really sellers in here. So what would I have done in here? Cause I'm looking for that move lower. Right. I would have gotten out. I would have, I would have been stopped out either break even or taken a small loss. That's it. Move on to the next. Cause look at this. This is going to be turned into a nice trap one way or another here. All this buying in here. There's going to be a huge iceberg in here and I can verify it here. Right. Here's our iceberg. We just ran into a massive iceberg here. How did I know that? I didn't even look, I looked down here afterwards, but how did I know that in here? What gave me some insight in here? What do you guys think? You can see a few, you guys are no liquidity and buyers. Couldn't take it higher. Perfect. Stand perfect. That's it. Look at all this buying. Look at it relative to all these, all this other price action in here. Look at the buying here that was able to move the market higher. All of this couldn't move the market higher. We just traded into a huge iceberg right here. All right. Let's turn on the stops and icebergs on chart. And I'm going to turn off the, and here it is. There was a bunch of activity here on the iceberg. They're still here. 685 transacted and it's still here in the market. So now we're finally getting our move lower. But what do we have in the bigger picture here? Now we were looking for the move in here, right around in here. We thought, yeah, okay, they tested the low and we saw the move lower and we're looking for the next leg lower down here. Well, price came back up. Selling iceberg was here, absorbed all of this buying pressure. None of all these buyers here, there's no liquidity in here or very little. Right. So we know this is an iceberg. Right. And we can verify it. And we can also see that, you know, how much traded and we know 685 transacted into that area here and failed to move the market higher. And so now these buyers are trapped in here. If we can get the sellers on the other side in here, we can get the move back down to the swing and maybe through it. And we do get that. We see that there's no more buying in here. The iceberg's still here and active at 20. And we start to see some selling. It's not a lot. But there's enough in here now, I think, to maybe move it down to the swing and lower. Interesting. Interesting move right back up to this iceberg here. Okay. Yeah. To me, it looked like these sellers in here would drive it finally down to like 12, 12 and a half or so. And they could not. 13 is where it is actually. That's where that liquidity is. Look at this. Look at this iceberg. It's still active and it's still absorbing all of this buying in here. Okay. So let's go through this scenario. We get this. This is great. It's great to see this. Now, buying pressure might make trade into this iceberg and transact all of it and go higher. Because we know there's buying pressure. Right. There they go. This happens a lot. Okay. But so far, they haven't gone through it. And they're still here. They're still here absorbing. And this is absorption. Pure, pure absorption here. It's just not by the, in the heat map. It's by an iceberg. There's 1900 contracts in here. 2000, 2068. There they go. Okay. So they finally transacted and it executed for, was it 2762? And you see the E right here means fully executed. Right. And there was more buying pressure. Now let's just watch this here because I'm still, I'm still looking for sellers below this 4220 level here. If there's more buying pressure, that's good. It's good to see. Okay. I'm looking for the move back down below though. The C means canceled Hector. If you see a C, the T means transaction and the D means detection detected. Yeah. It's an important level. Captain Price 4220 at least for this timeframe right now. Absolutely. It's turned into a high volume node. It looks like, I mean, I don't know if it's the point of control. Let's see. No, I don't want Delta. Yeah. It turned into point of control. That iceberg turned this into the point of control for me at least. I think my point of control is reset at the cash open. I'm not sure. Maybe I don't have a reset on it. No, I don't. Right. So interesting, interesting stuff in here. And then look still, so we got to here. And we came back down here and we're looking for the potential for the sellers to come in and move it back down here. Well, no sellers, very little sellers, buyers move it back up again. Let's clear these drawings. And let's take a look at our higher timeframe again. Okay. So you can see we kind of remember we marked this up in here, this little area in here. We just see some activity in there, some buying in here. This is where it pumped, pushed higher on the 15-minute chart. Yeah, I'm not really sure. One way or another here. Yeah, it depends on the next 15 minutes basically. If we can get some buyers back up above, I think this period here, this 15-minute period, let's look at the swings. It's really the swings. We don't want to care about the wicks and the candles so much and the high and low. The candle is the swings that we want to see and the buying above it or selling below it. So here come our sellers now. That battle is still raging here. And these icebergs in here, they're all short. So when do you see the few sellers? Yeah, just look at it in here. Look at the dots. Let's just make the dots really big here to emphasize it. See these little points up in here? There's no buying. And see, look at the small dots up here. There's very little buying up here. So I don't know where I said there was few sellers. But look, again, now, is this the same guy? Probably. He just got on another 1,600 icebergs in here. Why do I say that? Well, I don't know, but he's at 20. And he's got another massive iceberg there. And he just got filled. And there's still more buying pressure. This is where it gets really interesting in book map because we're not just looking at the specific, or I'm sorry, the general transactions. We're looking at specific activity by a larger player in here with an iceberg. And what is that dynamic right now? Well, there's still more buying pressure in here. Water flow wise, I'd look for it to come up into here. Maybe 25, 23 to 25. There's just more buyers. This is why, OK, we can identify that specific player. But what matters is the context after his transactions. And the action after his transactions is, look at all this buying in here. So we're still looking for it to go higher on the short term. And what I mean by short term is this price action in here in this viewable range. Let's zoom out a little bit because we're still looking for the potential for that move below 20 here. So here we go. Here we come retesting it. Now, is this guy still here? That was fully executed for 17. I don't think that's him. Could be, but who knows? So he's not really here any longer. Did we get sellers down here? No. We're not really seeing much of anything right now. All right. Well, let's add, we're going to add something else in here to give us some insight to go along with some of our Delta studies in here. We're going to look at the and listen to the market pulse. Because I'm still looking for those sellers in here. Let's see if we can get them right here and push through into 18. And we may get a quick drop here. And this would be the scenario. It's not happening. But I'm looking at all of these, all this buying in here to be upended. And then there'll be sellers down here. And really the 20 levels going to be really important here. All right. There's a bit of exhaustion on the buy side. But I just don't see any sellers here. We've got to get sellers here. You just, we've got to get them. Not interested in this going lower. Okay. And we're starting by looking at the lack of buying in here, which is pretty good up here. It's actually pretty, there's not a lot of buyers here. So do we see sellers now starting to a little bit, just a tiny bit here. All right. So now let's see if we can really get them to move it through this area and then come back down to lows of the day. There they go. Okay. This iceberg is in profit. Okay. Relative volume in here. This is a hard read. It's not many points here. And there's buyers that came right back in. Right. So yeah, although we're looking for that scenario in here, this does not look like a quality set up here. Okay. We got some sellers in here, but we're looking for our price movement with volume. And we're not getting it. Right. So here's the price move. It's like a point or so. And then here's like two points already coming right back or a point and a half. Right. And they're still coming in buyers. Right. So yeah, staying away and just waiting and watching here. Okay. It might come back down as this came to the top of the range here. Might come back down and then follow through. Let's get some additional insight with that market polls tool. I think that's been really helpful. I'm going to take the stops and icebergs on chart off. And let's look at market polls. I'm going to look at actually, I'm going to actually close out one that let's look at. We're going to look at three in here for the same instrument. Okay. This is something we covered on, on Friday as well. But we're going to look at just these three here for the same instrument. And we'll get additional insight from these three. All right. So this one right here is, you can see a little, little PC right here, which stands for price change. This one here says VPI, which means volume pressure imbalance. And this one says VP, which is volume pressure. Okay. So here's buyers and sellers pressure. All the thresholds are at 70. So if they cross 70 here and all three of them are right now. Okay. So we're finding buyers. Right. That's what the, the market's telling us right now. And now we just traded into this high liquidity in here. Okay. So this is where it can be really helpful in here. So we're looking at the market polls tools here, volume pressure buyers and sellers market, market polls, volume pressure imbalance. So buy minus sell. Okay. It's kind of like human to volume Delta. And then price change. Okay. It's over the last five minutes. What is the relative price change of only the S and P all three of these are for the S and P only. Okay. So we saw all three hit into this liquidity here. Okay. Well, that's, that's where again, we can get information or insight after the transactions into the liquidity. Okay. This documented it well, market polls tool into that high liquidity around this 23 level. But we just didn't see any more follow through after that. So, so far this is it. Okay. We need to get buyers back up above 23 now and I don't see them. Yeah. Peter docking the market polls tool. We're, we're, I think it's on the road map product road map. Hector, you're talking about the, the movie, the big short. Sometimes most of the participants are going out of the market. But there are a few forces that want to keep stable for different reasons, fed hedge funds, et cetera. Um, besides context, is there a way to identify covering icebergs? Well, we don't know if they're covering or not. We just know their iceberg transactions. That's all, but that's a lot. And it really doesn't matter as Scott says, you know, it doesn't really matter. We, it's the transactions that matter. Okay. Everything is quiet now. Market polls tool and nothing's happening. We're back up here, but not on a lot of volume. You know, the nod goes to the, the buying still just by looking at in this range in here. Now only for this small range is, it's because there's just more buying. So yeah, we'd, we'd look for buyers to try to reach back up to 25 here. Okay. Now that would be the primary scenario. Secondary scenario is sellers to come in through here and trade it back to 20 is the, is basically the, the mean here. Okay. And it's just there right now. Now can the sellers really pick it up though? And then trade it back down to 18 here. 18 then 16 and then our, our 13 level. Um, well, you know, I don't know how to comment on the movie, the big short. I mean, one thing that really stood out to me was like how they were, what's his name that the autistic guy, I forget the guy's name, just brilliant, was able to see an opportunity, a big one. And it just, no, no one else could see it. And it was right there in plain data. Like no one else really just uncovered it. And then he, he developed his own instruments to trade them and, and, you know, contacted some of investment banks and Goldman Sachs, whatever to, it's like, okay, well here we, I will take the other side of this trade if you make this instrument. And they happily said, yeah, you want to go against a mortgage sales and, and, and, you know, which is, has a high probability of people, you know, being able to pay those off. And he, he thought else, else wise, otherwise. Now what was interesting about that though was the, he got squeezed. Everyone got squeezed. All those people that were shorting early on were squeezed heavily. And it's not until it turned around and it just, it kind of sickens me to see like, not until like Goldman, now here we go guys. So we're looking for our sellers to really pick it up here. We're down at the bottom here. We're getting our market polls tool. Yes, I'm looking for the sellers to drop it into 18 and maybe down lower. Okay. So looking pretty good. We're below our 20 level here. And we're starting to see some selling in here. Okay. Now we're in hearing it. Now let's, let's be, let's be honest though, like, you know, how big is that here? It's not really that big. It's not bad. You know, we can, we can look at it in here. So we are looking for it to most likely to trade back down into 18 here. Okay. It's already back to 20, getting over the holiday hangover. Potentially. Yeah. Yeah. I mean, it's really back and forth in here. In fact, these guys are trapped at the moment right now, right in here. Okay. See the pivot, little pivot above. Okay. This is exactly what we're kind of outlining before. Okay. Let's see if we, now the pivot area is, is here again. So now, now what we need to see is if sellers are going to take control, it's right here where we need to see that control. Big sell dot here. That's what we need. Then it, then it looks like more likely we'll come back down into 18 then. Okay. We're not getting our big dots and we're getting buyers here. Now it was still, it can still do it here. Still looking like for, see these guys are getting squeezed in here. So, and we're, we're hearing it. So we're looking for it. Still looking for the move lower. See, it's really, I just fascinated by these markets. I mean, like there was liquidity that came in here and, and sellers went after it here at 19. So, you know, this is a, I mean, we evaluated someone is showing liquidity in here. It's like, what's the reaction? All right, we found some sellers, right? Okay. We're back up above this liquidity though, that transactor here. We got to get below it. Yeah. So, yeah, here comes a squeeze the opposite way here. It was just, yeah, it's kind of, kind of all over the place here. Let's look at some range activity in here or channel, price channel. Again, same thing in here. Look at the, there's our, again, another kind of pivot point in here. Let's see if we can get our sellers below 20. What's the, look at the relative volume in here in the bars and the delta. Looks pretty good. If we can get our sellers here, it looks pretty good for follow through into 18 and lower. See how you can look at this, this data in here, and you can look at your delta in a diagonal here. Okay. This is not going to be so easy to do in a footprint chart. Okay. Cause you just don't have the price structure. And that's what's nice here. So still looking for the move lower. I love these, I love these, this market pull stool. And it sounds like some sort of a tribal rhythm going on here. Little, little bit of voodoo. Now I really do like it. Now we're only looking at one instrument and looking at, you know, different ways of understanding the volume with the price movement and two different ways of understanding the volume in here. Okay. In fact, yeah, let's try it without volume pressures, volume pressure imbalance and price change in here. Okay. So we're just looking at these two. And we're not getting any insight right now. Now I want to add in something more though here where I think, I think you guys will, we've looked at it many times over. The, we're going to look at some correlated markets in here. So we've got the NASDAQ up. Okay. And we also have Microsoft Apple. We can look at these and put them into the, a little market pulls widget as well. So I'm going to look at volume pressure imbalance for NASDAQ. All right. And I'm going to look at, let's get rid of gold here. We'll look at, NASDAQ and price change. There we go. So we have price change of NASDAQ and, and S&P here on the, on the right and volume pressure imbalance on the left. Okay. NASDAQ's on the bottom row. So we're just looking at a correlated market here, highly correlated. And we're waiting for maybe NASDAQ to lead the, the charge here. And here, now it actually looks like S&P is leading the charge. There's our move lower. And now look at them both doing this. This adds to the probability. Now I don't have a probable number for you. This is again, something that you'll have to, to look at and study, but you have other correlate, highly correlated markets going the same direction. Okay. Now our big move is unfolding here. And this is the move we're looking for down into our, our 13 area here. And we're almost there. Just shy of it. Now so many different ways to use this tool. Right. So right now, I mean, there's no reason to get out of this. You know, we're still hearing and seeing that they're still selling pressure and imbalance and price change here. Once this starts to dry up here, this is another way of using this, this tool in here. Right. Once you don't see or hear the volume pressure coming in. Well, you can, you can take some profit. You can also look for a pullback. And then maybe even get in more. If it's, you know, if this is a big trending market, you know, there's a lot of different ways to use this. Right. And just, you understand what it is. And this is what we, we try to go over in the education here. You understand what this is. So now, and we understand what's behind it, what's making it work. Now let's, let's put that kind of common sense to, to work here in the price structure here. So this is a low volume pullback here. Right. Maybe, maybe you get out one and you can also look for getting in one. If you look at where those sellers came in, right. Like in this area here, get in and then look at, look for, for taking some off down here at this 13 and a half of the swing or 13 and a quarter or maybe the 13 liquidity here. Okay. Once it starts to pick up on the sell side again. All right. So again, like hearing it and then not hearing it. And then not hearing it is giving us some insight in here. Okay. Relative in the context of the price structure. Okay. A lot of ideas we're going through in here. Let me see if any questions in here. Yeah. I really like this tool, Walter. Let's see here. Ken question about on this book map, how it relates to NQ. Well, yeah. I mean, here we, there's another chart we can bring up here. We can use the, the correlation tracker and I can show you that here. Actually, I have it with a Euro dollar and I continue to have this here. I've got a bunch of different markets here correlated. Just a, it's the Euro dollar. That's the white line here. Right. So what's the blue line? Well, this is the NQ. What's the, this kind of dark orange. This is the ES. Okay. So these are the two price indexes or stock indexes. And then this is Apple here, the darker purple. And then the pink here is Microsoft. All right. So I have the dollar or Euro dollar stock in two stock indexes. And then I also have two stocks. And again, I'm only going over these two stocks because they are the biggest market capitalization stocks in the S&P 500. Okay. So they are the, the big gorillas in the S&P 500. So who's leading? Who's following? And that's what we can determine using this correlation tracker. The correlation tracker tools up here, right here under the add-ons. And then you just add one in here and you can give it different colors and et cetera. All right. Yeah. So we can use this as well. Look for some discrepancies between, you know, what's moving. Like look at Apple coming down to the lows of the day. NASDAQ has not, not yet. Okay. What about, what about Microsoft? Yeah. Microsoft is, is low making lows of the day. All right. So I would look for NASDAQ to hit low of the day here. Right. Because I, I see Microsoft and I see Apple doing that. Let's jump over to NASDAQ. Okay. So here's your opportunity or here's what you'd be looking at with that correlation. Okay. Here's your pullback here. Now look at the Delta as well. It looks pretty good. Okay. Here's a break of this price range and this one here. Right. Here's the sellers. Big Delta. Here's the pullback. Small Delta. Looking for continuation. Down to this swing. This swing. And then low of the day here at 14400. All right. Makes sense. Let's see here. Garrick. No, no, no hero indicator. That is not supported any longer within book map. Okay. You'll need to talk to the guys over Brent and Matt over at. Oh God. I forget. I forget the name. What is it here? Hold on just a minute. I would also recommend that you go over to a spot gamma. Yeah. Sorry. Jeez. Senior moment. You might want to check out Doug on a calendar here. Let me show you where that is. Doug goes over options and stocks in detail. He's got a great strategy. Hold on a minute here. I'll take you to the learning center at book map and I'll show you. Let me show you how to get there. Okay. So go to book map.com. Click on the more button. Go to learning center here. Okay. And then the scroll down a bit. We have a bunch of book map essentials in here. Courses, two courses and a bunch of information on a bunch of videos on add ons and order flow phenomena. Scroll down here though in the live streaming area and you'll see it here. Okay. So we got different colors now on the on the calendar. Right. So here we are Monday. Right. Okay. So it's east coast time right here. Doug options with Doug. Okay. And you can just click on here and add it to your calendar and then it'll be here in YouTube later. Okay. So and also in discord. Right. So you'll see here. Tom is upcoming and then then we have today crypto with John and then we have Doug after that. This is the one with hero and options. Okay. He goes into it in detail. So I would suggest you go to that one. Yep. You're welcome. I'm not sure what you have on if Ken like it's going to be different based on your time frame and chart range in here. So my NASDAQ might look different than yours even in the dots. You might you might have a filter. I may have a filter on it. Let's see. Yeah. So you have some of the smart clustering on. But on Delta dots, I have some of the smart clustering on. So you might want to mirror this or we can even take the smart clustering off here and put it on none. Okay. And then if you come up to the time slice tool here and let's put in 30 minutes of data within this window here. Now it should look pretty similar. Okay. It should look pretty similar in here to mine. Okay guys. We're down to our swing here at 14, 420 in the NASDAQ. Not sure. Not sure what's going to happen here. Still looking for sellers to try to get down into 14, 400. We still see more selling coming in, but I'm not hearing it here in market polls. Okay. Let's see if we get it here and we're not. So yeah, I'm not looking for it. Okay. In fact, look at this. This is a double bottom pattern in here. Now for this pattern to play out, though, we need to get buyers right back up here at 25. If we get buyers here at 25, likely the move is back to 35 liquidity up here, maybe 50. Okay. So yeah, you can see we didn't get those buyers, but the double bottom pattern is really, really simple thing. And we need to break structure here to be honest. That just has to happen for that pattern to work out. But this is the initial part of it here. Sellers retest very little selling here, buyers up here, looking pretty good for coming up to up here. And if we can get more buyers up here, that's where we can get a reversal of the trend. And this is how it starts. Okay. Exhaustion or absorption and followed by exhaustion. Now we're still not getting it. Okay. Now here come the buyers now. Is that enough? What about the S&P? A little bit. No, I'm not game for this. It might happen, but I'm not game for it. This is not enough buying in here. Right. And did we even break this structure at this swing here? No. We didn't. Now we are. Now we are. All right. Well, it's doing it, but I still don't hear it here. I'm staying away. Basically, this is telling us, now we're starting to hear a bit. But this is similar to our Delta, but we're actually listening to it here. Okay. Now we're really hearing it, right? All right. Well, let's see them take it up to 50 or 40. Whatever the swing is up here, 42 or so. Looking for buyers to lift it to this area here, this liquidity, 42 or 43. Okay. But see how we were looking for it in here and then it's like, no, not really. And then we didn't, we, we see some of the buying clustering in here. Yeah. But you know, we're looking for it up here and just didn't quite see what we're looking for right here. We see the selling in here. Right. So no, I'm looking for staying away here. Okay. Here it actually looked better if you want to take that risk. Okay. And it would have worked out. In fact, it probably wouldn't even gone against you at 35 here up to 43, 42. Okay. And then the next one was 50 here. All right. So yeah. And now the question is, do you want to take that risk or do you want to take risk down here and then gain all this? Just knowing that your risk is, we've seen this happen so many times. It just turns around here. This is our pivot. And then we get our big red dots here on down into our, what we are looking for was 400. All right. Instead, this has gone to 50 and above now. Okay. Now we saw that start to unfold right in here. It was this little double bottom here. And then went one more, one more little swing lower here. And then we got the buyers up here. But it just, for me, at least this was not convincing. We're looking for the potential, but it just wasn't convincing until it got up here really to be honest around, I don't know, 35 or so. All right guys. Well anyway, let's kind of recap here and what we covered started off with the higher timeframe here understanding this outside move of the daily and then looking for this kind of gap fill in here. Solid sellers coming in, looking for them to take it lower. And yeah, we got this move into the, here's our 15 minute chart here. We did get that move through it. And yeah, I mean on the 15 minute chart still, you know, we're not seeing buyers back up above these areas in here. If we can get buyers maybe back up above here 20 or even 24 up here. These wicks up here. Maybe we can get back up to highs of the day. But I'm not seeing it in here right now. All right. So basically it's kind of moved from outside back into the range. All right. And then we saw all sorts of little opportunities in here looking for who's in control, looking at the Delta, looking at the liquidity. We saw a beautiful iceberg buying in here on the S&P at that one level at 20, which is still the point of control for the day. And S&P moving back to test that 20 right now. Like a magnet. And then yeah, all sorts of different things in here. Anyway guys, it's time to go. Tom B's up next volume profile trader followed by John Slazas. You might want to check him out with crypto. He's a longtime futures trader though, but turn crypto. He's a complete expert on the market structure and then looking at order flow. Now Tom is a complete expert on the volume profile and then looking at the order flow. All right. So we've got we've got that next. After that we have Doug and Doug is going to look at a very specific options strategy, his own proprietary method and looking at the option. Well, either purchases or the Delta basically. And then he's looking for the order flow to start to match that options purchasing or selling and then go that direction. All right. So you'll have to ask him for the specifics on that. But that's our our day here for the rest of the day. After that we have the Algo boys and they're at 230 and they're going to go through their ways of looking at some of the technical analysis and understanding larger player activity and some of the algorithmic levels. But it's going to be mostly by understanding the same same types of ideas in here where those larger players are coming in and moving that market like right here or right here in the S&P or right here starting to move it back up. Okay. You can see these areas in the in the market moving and they identify those with extreme accuracy. All right. Thanks guys. Thanks for coming everybody. I'll see you on Friday. But like I said, we have all sorts of events all week long here. All times of the day. All right. No more questions. Okay. Good. We'll catch up another time. Bye bye.