 All right. Good morning, traders. If you can hear me and see my screen, just type yes in the questions there. Welcome to the... Thank you. All right, we're up and running. Thanks for coming to the live trading webinar. This is the Advanced Education from Bookmap. We do the live analysis Monday, Tuesday, Friday, and live trading with Jay Trader and Scapulcini, Wednesdays and Thursdays. The whole goal here is to provide you with this educational foundation. It is pretty advanced stuff here in these webinars. We're going to go through a lot of different things at a pretty high level, but it still gives you a very good foundation of market mechanics, understanding how these markets work. So let's jump in and get going here. 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 involve substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. All right. So let's jump in. Let's take a look at bookmap and see what's going on here. Let me get rid of point of control here for a moment just to kind of look at a clean chart. We have stops and icebergs on here. We'll look at them a little bit later. But a very important element as well, not the sub chart, the on chart. There we go. Okay. All right. And zoom out a little bit. Some really, really choppy action and then all of a sudden end of the day, massive, massive spike. We've seen the last few days that is made for some really challenging trading during the regular trading hours. We had data this morning for the non-farm payrolls and employment data and pretty strong numbers. So we're, you know, we see the move to the upside here. After the numbers, it was immediately went down and then here we are, 930 cash open, a backup above. We're going to go through the market structure in here in just a minute. A very important element to understand within the order flow is market structure. And maybe I'll go through an exercise on that. So you guys will start with market mechanics and then build out into structure. It's so important to understand really how these markets work. And let's start off though with a bigger picture on our candlestick chart and just to get an idea of what's going on out there. So this is a daily chart over here on the left. And you can see a lot of volatility here, the move down over several days ago. And then the move back up, this retest backup, we're looking for it. We saw the spike below here. We're looking for the pullback into some areas. And this is what we marked up the other day, beginning of the week, in fact. And it was a zone up in here. The reasons for these areas in here is market structure. So we want to first look at and outline our higher timeframe structural areas, our levels, what we're interested in. And then we're going to look at order flow around those levels. So we can see the, this is an hourly chart here in the middle, not getting too much out of this daily except for, as you guys can see, this move back up into where there's a kind of a spike here on the downside right here on this candle. This was back on what day was this, on January 11th. And so, yeah, you can see we kind of, then we had a pretty strong drop from that area. And it's a retest all the way back to it. Here it is on the hour chart. We were looking for that retest to this area or zone in here. And we marked it up, certain areas and did they hold or not? Well, this one blew right through it. It took a little while and it was a very choppy day and then it blew through it. And then the next level was up in this little swing here. And it blew through that. The next one was up here, where it dropped from. Okay, well, it went a little bit higher kind of up into this area and here you can look at maybe a swing over here, but also you can look at maybe a point of control or like a high volume node in this area here or where it dropped from on the hourly chart. And you can see buyers went up and tested that area on this hourly chart. Now, what happened the other day was immediately after that regular trading hours, it dropped tremendously. We had some earnings and we have other things in here that we look at. But still, it's where people dealt in the auction. And we're looking for, you know, in the market structure here, we're looking at these candlesticks in a very different way here. We're looking at it as an auction. And we're kind of making a lot of assumptions because we don't have all the data here with the candlestick. But what it is giving us is just higher timeframe market structure. We don't know the volume within it. We don't know the order book within it. We can see kind of, you know, the big moves unfolding or areas of consolidation, et cetera. And then marking our chart up around those areas here. So this was a pretty big zone in here and you can see we've been bashing around in this zone in here. And, you know, just to show you, like, you know, there's a little swing in here. There's also kind of the top of the range here that we're just bouncing off of right now or an hour ago. And we're back up into these areas here. So here's the 15-minute, or I'm sorry, this is a five-minute chart. And what's going on in there? Well, we see this is that big move down we saw, sideways consolidation, another move down. This was yesterday's after the close, all the way back up to where it dropped from here. We're going to go through these concepts again and again in here because this is testing market structure. So anyway, you can see what happened again. We opened up, you know, down in here and we've been chopping around having a hard time getting back up into this area up here. You can see the structural area though and you can see the wicks, the selling in here. Okay, where is it happening? Right in here where this previous area auctioned as well. So somewhere around this 83, you know, 82 to 86 level here in the S&P. And you can see we're, you know, we made even lower highs here and we see selling starting to come in now, testing maybe some of the wicks down in these areas here. So we just tested this one, it looks like around 44, 67, so maybe you can come down into 61. All right, so we're just going to take a look at some of those areas in here. And we just, just to get a, you know, a feel for our higher time frame, right? Where price might go? Are we going to come back down into, into these areas here again on the hourly? We're going to look at the order flow to give us insight. All right. So let's jump into, to book map and let me see if I, any questions here. Let's see. Can't join the stream. Why not? Okay. Oh, let's see. Yeah, I don't know if Sam's in here if you can get the, that server up the streaming server. Let me reach out to Sam. Hold on just a minute guys. Okay. Good morning, Fabio. Yeah, super fast action. I mean, it's been really brutal out there in some of these auctions in here. So anyway, let's jump into book map and see what's going on. Well, pretty, pretty beautiful chart right away here. As you guys can see, high liquidity here in the auction on the higher time frame on the bid. This is where we trade into at 830. Just note this kind of activity in here. See how we've traded like the news came out and where did it go? It went to liquidity. In fact, we can zoom into these areas and see precisely what happened here. These guys pulled here at this price level and they traded into these levels here. Surprisingly, it did not come back down into this 4435 high liquidity here. And look how they're behaving down here. They're adding in and there's people front running as well. They're adding more liquidity in front of it. They want to be buyers in front of it. And this red area is the highest in the order book here. They're adding in at this price level here as well. They want to buy. There's also buyers below it here. So we've got a lot of interest in this area here on the bid. And we've got our 9, that was 9 o'clock, 930 cash open. Here it is. We move down and then we move right back up and trade into high liquidity here on the offer. So we know the auction here. These are our big levels here to take a look at. So we have here the swing but also high liquidity up in these areas. And then basically down here the swing but high liquidity down here around the 35 area. And we're in that range but let's take a look at the market structure. So we have all sorts of structure, good structure in here to take a look at. Here's a kind of a consolidation, a breakout, started to accept above it and then it broke down after the news though. It was the news event that drove it away from this value area in here. Up in this area here potentially we had a lot of buyers speculating maybe before the news or whatever the case may be we see buyers in here. We know the numbers were actually pretty good. We see them move to the downside though. Now we're right back up and now we're looking for a potential breakout. In fact look at the buyers coming in. This looks good. I would look for these buyers to try to spike it up into maybe 4500 up in here. This is where the higher time frame liquidity is. So we'll come back and take a look at this in just a second. We're still marking up our structure. Note the structure down here at the bottom of that range and see how it created another structure. Another breakout. I kind of messed that one up. Here's a new one. Now it looks like we're going to try to create another structure up here. We're anticipating that. Why? Because we look at the volume within that structure. Where's the liquidity? It's up in these areas here. That'll be breaking to highs of the day here. We want to be careful in highs of the day. Here's a 4490 liquidity looking for that to transact. It looks like there's quite a few sellers in here. They're adding into the book as price is coming up toward them. I'm looking for this to transact here. Let's see these buyers meet these sellers here. There's our move. It's still good buying here. I want to see buyers above this event here. Right in here. This is going to be a new event or new area to watch in here. We have a lot of icebergs that also kicked off in this area. We're still seeing more buyers above it for the moment. If sellers come in, we'll be looking for a move back down to here. 4488. This would be the first pullback here. We're almost there. Now looking for buyers to come right back in. To be honest, it's already moving pretty nicely here. I'm still looking for buyers to come right back in here. Let's see if they do. The reason being is to look at the volume in here. For example, this volume. We can see it in the dots as well. We're looking for buyers to come in here. We're looking for the bid to light up in here as well. I'm looking for right around this 88 level. Maybe 88 in a half or so. That's where I'm really looking for the buyers right now. For them to come back up and trade into 90 and 92. And then maybe up into 95 area here. Let's see if we get our buyers here. This is one of the scenarios we're looking for. Buyers here. And then the move up into 90. I want to see that bid start to light up as well. On the bid here, there's a little bit down here at 85. And now let's see the buyers lift it up into 90. And then higher the day here. Get back up into maybe 92 or so. Didn't get them. Let's see if we get another rotation up there. Now that's scenario number one. We're looking for our buyers up here. Scenario number two is we don't get them. We get sellers down below and we get them here at 86. We're looking for them to break it. And then maybe trade down to 80 here. So here come our buyers. This is what we're looking for. Even this S&P is moving pretty quickly. It's hard to get in here. There's another pullback here. Let's see if the buyers can still do it. If we exhaust it out up here. We need to see more buyers back up at 90. All right. I think not yet. Let's see a little bit more up here. And then we should be able to break. There they go. So looking for the break out up into 92. Immediately pulled back. All the way back down to the bottom of the range. So yeah, this is actually something I want to cover here. Because these days have been we're looking for this to continue. The trend to continue. And to trade up into this new range here that we're outlining. It might be breaking here. And if it does, we're looking for a pretty strong move on the sell side. Below here, they should be able to at least test 85 here. This transaction. I'm still looking for buy side, to be honest. But the secondary scenario here is very high volume here at 85. And then the break of it down into 80. And maybe back even to 70 here. Bottom of the range. So this would be a false breakout on this higher timeframe here. So here we go. Let's see if we get our buyers come streaming in again here looking for them. Once again, we've got some stops. Not really. We do have a lot of icebergs down here though. And let's see if we can get maybe a little bit of a squeeze going here. And move right back on up into this high liquidity on buyers. Look at this. A nice cluster of buying. They should be able to sweep it right up into 92. Looking for them. Yeah, I would take a shot on it. This is not a recommendation. It's just I'm seeing volume here. And I see volume pressure within this range here. So I'm looking for them to extend on up into top of the range. That would be my thought behind this. What I see the order flow within this range. And stop would be probably down around this area in here. Some of these lines around 86 or so. Okay, probably stopped out on that one. Still probably still be in it 86 or so here. Okay buyers, let's see it. Let's see if you can move it now. Nice cluster up here. Okay, looking for this looking for the next scenario in here. And what might unfold here? Okay, are these guys going to be on the hook in here? We're going to see sellers now drive it down into 80. I don't see it yet. This is really a lot of icebergs in here as well. That's how we went from 3,000 down to so 2,500 icebergs in here. All right. So yeah, it looks like it looks like this is this false breakout here. This was this going to turn into we're still still watching it here. This has been really, really tricky last few days. And I'll go over that in just a minute and looking for stop. One of the things that really helps us on determining if it's a false breakout is the stop runs and big ones too. We'd be looking for. Okay. Yeah, you want Rambo, you want to look at the icebergs on chart? Okay. Yeah. Sorry guys. Okay, here's a little bit of a flip of the book. All right. Let's see if we get a low volume pullback here and then trend continuation. Okay. So, yeah, back up to where we just broke from here. Now looking for sellers again in here right around this 82 and three quarters. And they should hit it now. They should be able to hit it down into this 80 level. And let's see if they can go further. Okay. We're back in the range here. We're looking for them to trade into 80 here. Right. This was a low volume pullback here after pretty, pretty strong volume here. All right. So, looking for 80. So, we have to kind of flip our idea here. And then down into maybe 75 down here is a nice area to test. Okay. Due to the market structure and the breakout here. And we also have liquidity down here at 70. Room is full. Yeah. Go to the other room, Ellie. There's stream one. And then our Bruce at book map there. Okay. This is still a low volume pullback, even on this cluster here. Right. So, we're still sell side here. There's 80 looking for more looking for the 75 level here. All right. So, now what I want to cover here about this really, really tricky trading with the market. And the morning's haven't been so bad. This has been a little tricky on this higher timeframe is starting to play out like this is a false breakout here. We'll see though, like it might be kind of bouncing off of some of these areas and then we get the buyers to continue. But yeah, you know, 80 just transacted and we're still looking, you know, more for more here, but we got to, we got to come in here and like it's tricky. There's a cluster of buying starting to come in here back up above this area. This is, this is where we get these like this would be a false breakdown then and we're looking for buyers to trade it back up into this previous range up here and this previous cluster up here. Okay. And our 90 liquidity coming in right now. Right. So, I'll go through it and you know, so we have something to lean on here and what we're looking at. It looks like buyers are going to try to do it. They're back up here. Let's see if there's a lot of buying. This is not a low volume pullback here. So I'm looking for buyers to come in here. We might get a pullback to about 84 here, maybe 83 liquidity here. Okay. Now, great. Let's see if we come right back up here at 85. If we do, we should get a breakout of this range here. Okay. This little break, break down range here and then back up into our previous range here. All right. We can see a little bit of volume or liquidity coming in here at 85. That's where we got to get back up here and we're looking for those buyers in here. Okay. This is one individual actor who's, who's got the majority of the liquidity here and he's just taken on. Okay. So let's, let's get a little bit higher here. Okay. And I think we, I think the buyers got it. Okay. Looking for a move back up into the range here. Now the battle ground here is here. Okay. This is what I want to show. And this is what this will need into the next, I think conversation. The battle ground is here. Okay. This pivot point, we draw up our pivot points in here. This is where the sellers took it down. Okay. And then retested here and buyers are now back up above it. Okay. This is where the sellers actually dropped it here. We got to get back up above here on buying. Right. But we have a smaller structural area in here that we're looking at. Okay. Now we're looking for the, if, if these guys, these buyers are going to take it back up into the range. This is where we're looking for them. Okay. We're looking for some exhaustion here. Let's see if we can get it. Not at all on the sell side. We're seeing sellers come in. So it'll likely take it right back down to this liquidity here. Okay. Anyway, around some of these ranges in these areas here, this is what I want to cover is you can see the, there's our move into 80. Okay. So let's zoom out a little bit more. Okay. Yeah. They're going to go for 75. All right. This is interesting stuff. I mean, and tricky. This is not a low volume pullback. Okay. And we can look at the volume within these areas here and compare and contrast. Okay. So I'm still, I'm still in this for, for buy side. If we can get, we're trading this trend line here. And this is where that 75 level is here. And we're not seeing buyers come in at all. And they're going for 70 here. All right. So looking for a big stop run down here. Okay. All right. There we go. There's our big stop run. Let's zoom out a little bit more. Okay. And looking at this area here, looking to see now buyers to come in after that stop run. Back up above 70 here. And then we'd be looking for the move right back to 75 and then maybe back up into our previous range here. Yeah. Higher timeframe might be stepping in for now, David. All right. Now the, the idea here is the, and, and this is from that choppy action we saw, you know, several days this week is you, you get these moves to the outside of ranges and then you get stop runs at the, at the ends of these ranges. Okay. You can use your sweeps indicator. You can use your stops and icebergs indicator. And now we're looking for buyers back up above it and then a move right back to 75 and right back to 80 here, where they dropped it from. And I'm looking for them. Okay. Should be able to come in here. We've already had our move. We had our stop run. So in range bound trading, look for the stop runs. Okay. Spiked below the, the range, the bigger ranges in here. Okay. And then look to see if it's a, if it's a huge stop run, you, we got to get back up above it here. Okay. Just because it's a stop run doesn't mean that the sellers are, are, or the, we're going to, we're going to reverse. Okay. We're looking for buyers to come in after that. It's after the event here is what we want to read. What happened after the event? And, and here we go. We're above it now. And I'm looking for more buyers here. Okay. We have a high liquidity here at 75. That's our first area that we're looking for the test. Now looking again though, I want to see these guys actually pull. And I'd love to see it come up to 80 here. We see guys that have come up in the book here at 80 already. Okay. So looking for that scenario here, the bid is starting to add a little bit more here. Right. Let's see if we get our big green dots here and lift it up into 75, 76. And these guys should probably pull. I imagine. And we can get a move maybe up into 80 here. No. No. It looks like they're adding even more in here in the book. We're getting the opposite of that. Yeah. Let's zoom out a little bit more. Let's get our bigger picture approach here. Okay. This is a strong, strong move to the downside. And just tons of stops though. All right. Let's see if buyers can bounce off of this back up into 74. Okay. So anyway, what we're looking at here is, again, like where these stop runs, big stop runs occurred at the bottom of ranges or tops of ranges. And then, boy, I wish I could find it. I might have to kind of draw an illustration. And we see it all the time. See if I can find it in a better range. But it's really, and these areas here become really important, like kind of pivot areas in here. And you can see it. This is where we're getting buyers above this range in here, where that stop run really picked up down here. So in your range bound trading, if it's a range bound choppy day, you can look for these stop runs and look for buyers back up above it to trade back up into other, test other areas where the sellers came in. What we're looking for in this scenario here. Now, if it's going to be a trending day and we get back down below in that area here, then we're looking for sellers to continue the trend 65, 60, and lower liquidity here, maybe 55 and 50. And that would be lows of the day, in fact. Yeah, it looks like sellers are going to do that. So this is failing here. We're below, we're back down here. Don't see stop runs down here. This is new selling coming in. Most of it is new selling. So let's see the new selling pick up again and let's see if they can do it here. They should be able to drop it and we're starting to trend now. So we're looking for 60. Thanks, Doug. 44, 70 point of control. Okay. That's what you got. Yeah, let's put that on here. Okay, here's our trending move down to 60. Okay, and then I'll be looking for it to trade here at 60 and then a pretty quick pullback. Let's see if we can get a pullback to maybe 63. Okay, next area was probably around this 55 area. Liquidity starting to come in there. Yeah, I got 44, 70 as well for point of control. Thanks, Doug. All right. Well, yeah, I really wanted to cover this point here about these, about some of these days, these trappy days and market structure here and starting to understand like some range bound trading in here. So because we have these really, really nice add-ons here. We've got the stops in icebergs and we've got the sweeps and absorption indicators. Okay, David, your market's not holding up well. Thanks again. Okay. Yeah. Looks like we're going to be trending then until the European close, David. Let's go with that scenario here. So we're still, we're looking for lower here. 55. Yeah. Thanks, David. I love it. I mean, looking at correlated markets like this and you're over in Amsterdam and you're looking at European markets, that's a really good indicator to look at for, you know, trend continuations or reversals or whatever. We've been looking at just looking at some of these correlated markets here for the stock indexes. Are they all aligned? Okay. And are they going to start moving together? And yeah, Nasdaq has the potential here to start to trend here. I don't see it trending yet. Okay. But I'm looking for it here. S&Ps all psyched to trend as well, it looks like. And so is the Russell here. Now, we've got to be careful down into these kind of swings and looking for the order flow, though, to give us some insight for the sellers to start to come in and we just go with the trend. Okay. It's going to take a while for these markets to turn around here. Okay. If all three are going the same direction. All right. So we're looking for this trend continuation here. We already traded 55. Okay. We're going to get a little bit of a bounce and a pullback here at 55. Due to this breakout here and our market structure here. Okay. So here's our pullback already. Okay. Where do we look for our pullbacks? I don't know. Maybe Alec if, you know, what kind of areas do we look for for our pullbacks? Okay. We covered this last week in one of the advanced education webinars. There are certain areas we're looking for in pullbacks. I do have hero indicator. Previous structure. Exactly. Exactly. So we've already kind of tested it here on the pullback. Okay. And it looks like it spiked up above it but we don't know quite yet. Is it going to continue to pullback here? The spike above failed so far. So usually we look for the continuation here. Okay. And we'd be looking for now sellers to take it right back down to here. 55 again. These guys, this is where the buyers came streaming in. Okay. And then if we get more sellers there, we should get to move into 50. Right. So here's our pullback. Right. And look at our clusters of volume and also the transactions here in the order book. The next level would be up here. Okay. This cluster and this area where they dropped it. We didn't get back up there. Okay. And we're looking for those pullbacks. So we're still bearish now. We flipped and we're going with the trend. And now we're looking for the continuations here until we see something different in here. Now there is a note here. I mean we should be looking at this here. We're down into this 55 area. And we do see some buying in here that's not really a volume pullback. Right. So this is some pretty strong buying in here. Okay. So we might have some back and forth in this area for right now. Okay. So look at your bars how we drew up the bar or the pullbacks before. See how this is different? See how we really can't draw on the chart here. You know, we can't draw something like that. It's like this. So this is where we can see buyers try to pull it back more or even reversals start to take place. So, you know, we need to we need to see if they go for that. It's starting to turn into kind of range bound trading. Right. Let's see if the sellers can come in right here. 58. And let's see them move it down to the bottom of this little range. 56. And then maybe they can start to trend. Setting on the bars. Yep. Let's go to that. Right click on the bar. Go to the volume bar settings. Okay. Solid is what I'm using. And volume delta is what I'm using. And I'm using smart clustering that is inherited from my dots. Okay. Just click on that. Okay. So these should match basically my dots because my volume dot settings are 3D bubbles and volume delta as well. Okay. And then I just inherited the same setting here for the clustering. All right. So here we are down at this 56 here. Okay. This is going to be do or die for the for the bears. They want to try to drop it here. Looking for a big red dot then. Nope. Not yet. Okay. Buyers starting to come in showing a little bit of interest here. And let's see them move it right back up to the top of the range then. Okay. See how they're starting just to create a new range in here. Okay. I still think we're going to get some buyers down here to be honest. And right right back up here back to 60. Here's why we're looking at the bottom of the range. There's liquidity down here but lots of buying in here. All right. So we're kind of in a range bound environment at from this timeframe onward right here. Right. So we're kind of looking for this this move back up into the range in here. Okay. Let's see if we if we don't and we see sellers and that's what we're getting. Yeah. They're going to drop it then. All right. So sell side still looking for 50. That was a tough tough little read in there. I thought looking for 50 and then let's see if we can get it even to 45 here. Now we're seeing a lot of icebergs now as well though. Okay. So a lot of iceberg covering in here and someone had requested icebergs on chart. No problem. Let's take a look at that. Yeah. Nice one. Notice the behavior in in the iceberg purchasing here. Right. Look at how they're they're front running this high liquidity at 50. Hey guys, this is a really nice trick by larger players. It might even be their liquidity at 50 that they're front running. Here's 266 5 5 7 5 3 3 75 right. And now we just traded into 50. Okay. And we have a stop here. Okay. Not a real big one. Okay. We're looking for much, much bigger. Okay. Anyway. Yep. Noticing these large icebergs. So it's back up above 50 is what we're looking for then at that point. Let's see. Can you go over icebergs and stops in the bottom? Right. Yeah. Alec, you have think or swim so you can't see them. Right. That's that's one of the problems with the think or swim version. It's it's it's not the same thing with the features that they're using. And it does not have stops and icebergs. Okay. Rhythmic is the only data provider that has it. Yeah. So so that's unfortunate. You might want to you can't even yeah you don't even have sweeps and yeah. Yeah. Sorry Alec. Well, I mean, you know you got a heck of a deal though over there I think are swim right. book mass 40 bucks so yeah really really nice nice deal all right so what we're looking for down here we traded into 50 this is heavy selling in here we got some icebergs okay this is a low volume pullback here okay unless we get buyers back up above here right here at 50 and here they come all right let's see if they can reach 55 53 maybe back up here we see liquidity starting to come in here 57 and also 60 okay we're back up above we're above our 50 but not on a lot of volume by volume not at all so if we get down below here 49 and a half we should hit our high liquidity here 40 46 45 43 we got to break this area right here and on heavy selling let's see it sellers you should be able to do it you've you've got it here and go to lows of the day let's see it I've got my resets here I'm gonna get rid of that so anyway guys this this is what I was kind of you know pointing to like these really tricky days here like this is trending you know so that that's that's been nice like it's been trending here but this back and forth in here are these pivot points are just so so essential to understand the order flow around them right in here and we're looking for our insights we're looking for buyers back up above it and it does not look convincing right we're looking for big you know green dots above it we don't see it you know they may they may come back up here but we're looking the most likely scenario is big red dots right here at 50 and for them to take it right back down into this lower liquidity here and then go for lows of the day here right so I'm looking for it looking for those big red dots to continue here okay and then back down at 46 for through 43 maybe back down to 40 okay let's see if they can do it here should be able to move it we're looking for them to move it away from this area on selling okay they're down below it but I don't see the selling coming in yet right this is this is we're watching the volume here okay the liquidity is down there the second stream died really you guys can't connect to that second stream let's see if wonder if you can have custom filters for cvd um and think or something you the cvd should be pretty good um uh in there uh trader mix doxer you um oh you're gonna switch okay alex alex you're gonna switch this weekend yeah give it a try uh and uh you know see see how you like it you I mean is yeah you're gonna have so much more uh to look at but you know it comes at a price like the uh it's pretty nice to have that uh that data for free and and it's it's too bad like it's just data so expensive um you know I think bookmap is pretty reasonable um in its in its pricing uh this the uh uh the data it can really add up and it depends and if you if you trade just the cme and and maybe uh nasdaq and and and russell uh you can get rhythmic data for I think it's like 40 bucks 40 bucks a month something like that uh and that's pretty good now if you trade crude oil and uh you know then you have to and and gold do you have to get that it's like 99 bucks a month yeah so that really adds up all right let's see if we get our sellers here looking for them right down here 48 don't don't see them yet no in fact we're getting by we're getting the opposite buyers at the top of the range here okay a few icebergs not many okay all right so back up to uh a 55 here and let's see if we can get some rejection here back down into the range here and some selling so we'd be looking at this scenario here no we're back up above it okay sellers should be able to retest back down here to 51 now did we get a stop run we did okay so here we go here we have our stop run above the range here all right boy it's not like one of these stop runs though that's what we're really looking for one of these massive this is a over a thousand here 1200 over 1200 uh in this area here and then a hundred another 165 down here right that's a that's a real stop run uh so you know this this gets to that that question here like kind this is a much bigger picture look at it here above 55 you get buyers back up above 55 right we can have a really nice move back up to point of control back up to 70 you know we can get like a a 20 point move here so let's let's see if we get that um and we're gonna look at the order flow to give us some insight for these different scenarios here okay they're they are buying they're buying more all right so here's nice buying here uh and I don't see a stop run okay uh so let's see if they can get a little bit more here boy it's not they weren't they weren't even able to make a higher high here though on that that buying all right so let's just see if we can get it up here uh not looking too good I mean the the clusters are good we're back up above another range in here okay right in here looking for buyers back up here if we can get them uh and we could get a really nice reversal here uh if possible uh and boy I mean one thing we've learned um you know about these kind of mean reversion traders and uh oh yeah I left off uh with a it was uh Alan asking about mean reversion and what that means uh the significance of it the you know it it's kind of all over the map I mean like uh what exactly does mean reversion uh mean as a strategy usually like to a moving average or vwap uh also uh any any kind of average basically okay and a reversion back to it so yeah also like you know a highly traded level can also be uh you know back to uh you know some sort of uh average okay we're getting we're getting our buyers now we're getting our buyers back up above it here but look at the buying in here is it that strong it's not bad it's not bad all right let's see if they can do it then see we get a bounce off of this right here here's our pullback already okay all right we're back down now wide open door here for sellers to 45 and 40 wide open door okay they've got control here if they want to take it right here because we're below our our line here right this there's buyers above it uh and now we've got some selling down below it here okay now we're looking for that directional move to continue all right so let's see if our sellers show up here looking for them here and we should get a pretty nice move back down to I think 45 liquidity here and also 40 here they go and let's see them go for it right so it our level here that we're looking for the order flow around is right here okay this uh 40 uh 53 area boy another ton of icebergs here looks like it okay sellers should have it here let's see 47 45 and 40 hit it sellers should be able to hit it here and they are bidding up here but it's still still looking for these sellers to hit it okay there's 47 still looking for the continuation for 45 you know these are our areas where we're looking for the sellers to take it this is where the liquidity is okay it's already traded some here at did now did they transact here at 47 some of it did yeah got some icebergs in there as well boy it's being really really kind of touchy in here back down below these areas buyers come streaming right back in well we got down to 47 that was it down to this swing here and buyers came streaming right back in to trade it back to our level here our 53 we're still below 53 though okay but we you know here here we go we have to kind of flip flop back and forth yet again in here so you see how that we got selling down here and look at where the buying came back in okay I think David I think it was you we had pointed this out like it's the volume and the context here look at the selling here and look at the buying back up above it okay so we want to see the selling here we want to see no volume back up above it maybe to test back up to here where they dropped it from and then that's it we're not looking for buyers here to come back in here if they do then yeah we're looking for back to top of the ranges here right so again this is a that that the structure here is what we want to look at in that context here it's tricky it's really tricky here typically we this is a move down we look for the low volume pullback and the continuation here okay didn't do it we're right back up into and now we're even above our line here right so this has become an important for this little timeframe right now this is an important area here at 53 and we're looking for the order flow around it here not seeing too much in the order book to give us much insight here we see the liquidity at the at the extremes here 58 and 60 also down here 48 you know and and lower yeah hazard that the sweeps indicator is really really nice indicator it's you know there's a mobi mobster 16 and one of our moderators in there had pushed for that once it was we had it before it was just all combined into the what we called the absorption indicator and he wanted to look at both of them you know absorption and sweeps together so we had to like kind of lift it out of there and this is where you I'll show you where you can find it but you know go to our knowledge base but you can see there's absorption indicator and a sweeps indicator here they're separate and look at them here I'll show you I'll show you guys what they look like here the settings up here see how the sweeps shows within a timeframe how much volume traded at a minimum number of price levels okay that's what you're looking for in the sweeps so it sweeps a number of price levels okay the difference between the absorption indicator is it just doesn't have the price levels in here so it's at one price level only that's really the only difference so you know just that little you know check of the box here for minimum price levels will give you the sweeps right and start to look for sweeps above like this right here you know sweeps above a range okay and then if we can get back down below that range and we have a stop run here we have icebergs in here we're looking for sellers to come in on the other side of this and trade it back down to 53 this is the kind of tricky action we've been seeing it's like like this down here there's also stop run here okay and then and then back up above the the area here back up into the range okay so here we go let's see if we get these our buyers going to support this here or our seller is going to take it down from here okay we have we have stops and sweeps we have icebergs I'd be looking for the move back to 53 okay there's some selling here they should be able to move it right now and they don't buyers support it okay so now if buyers support it they're going to come right back to 58 and 60 here so I'm looking for that move now okay it's all around these little areas in here we're looking for the order flow now we got buyers back up here we're back up to the top of the range here and now I want to see them break the range though okay back to the bottom of the range again okay now we get our move okay all right so we're back here okay we're back into our kind of small little point of control here now can we get heavy selling now at this point to move back down to the bottom of the range here and they're going to go for it all right so let's see if let's see them hit 47 again okay that would be low of this cash session I'm sorry yeah of the cash session yes tricky tricky moves okay at the range bound trading is uh I find it to be rather tricky but we're looking for who who's on the hook basically uh in some of these areas here you know that's why we look for the stop run and then the move back up above the stop run right and then for buyers to come charging right back in and just kind of um you know move back to the other side of the range after the stop run so this is a false breakdown so far in this little area here okay now now it might turn into a full breakdown let's see okay right here this is where the sellers need to take it down and looks like they're going to do it the order book see how they're pulling here in the order book I'm looking for the sellers they should be able to come in they've they've got this now the one thing we don't like is that the on the other side of the order book it's dark here that means buyers can easily move it back up here right uh that's why we look for a skew in the order book we look for them to pull this liquidity up at 55 and add it down below see see how they they it's easy for buyers to move it back here okay we look for let's see if we can get it here let's see if we can get now we're back here now we're not above it let's see if the order book here shows a skew in the auction and let's see them pull down here I want to see them pull okay they are adding see the blue coming in here so they're starting to add in but as price is coming up they're pulling so they don't want to be sellers okay this is where we're getting to the the nuances in the order flow here okay now they're actually pulling at 55 yeah sweeps I can explain um the uh the the sweeps okay testing the i below thanks David what is what is an order book sweep um and um yeah you know I I'm gonna take that into this this is kind of where I wanted to go uh originally with this um this webinar here uh was going from market a micro structure into bigger structure okay and how to how to read that and then how to extrapolate that to even here our higher time frame right oh god this is just pretty pretty ugly the move down below and then just hacking around down here on this five minute just uh just a pretty ugly little tight little range in here all right well let's just zoom in here let's just check it out um all right there's our skew in the order book do we get sellers no we got buyers they took it on do we get buyers back up above it if we do they should hit 54 let's see they should go for it here let's see it buyers you gotta show up though they have to show up here if they don't sellers will come in on the other side okay this is the area we're looking at here 51 and a half the order flow around that area if we get sellers down below they're gonna take it now they're gonna take it down to 48 47 here we go now we gotta move okay there's 47 looking for more looking for 45 let's zoom in here okay strong move strong selling lots of icebergs there it is okay there's now there is a sweep and a stop uh stop run okay here's our order book sweep see the the the purple squares there even another one here wow wow okay we're down at 43 okay now we're gonna look at this area here at 47 and a half okay if buyers can come back up above that area here okay that's where the big sweep or the big stop run took place okay pretty big for 500 almost all right so let's mark it up oops okay sellers hit it let's see if you can hit it again they're pulling on the order in the order book sellers have it open here for them skew in the auction nothing nothing yet okay there's a skew in the auction now the order flow here they they they took them on uh high liquidity on the uh on the offer here uh and buyers took them on now we need to get buyers back up above it here they go all right buyers should be able to take this back to 40 or 47 and maybe 49 here our 47 level 47 and a half is where we drop from that's where that sweep took place and that uh stop run took place okay looking for a test back to it now okay and then here we go on the bid all right so they let's see if we can get back up to 49 now okay looking for it okay and then back up to 51 this is where they dropped it from okay there's our move to 49 ish one take away okay so we're looking for a move back up into the range here okay yeah i like 50 uh and and 51 in here okay scenario one due to the stop run here in the sweep okay we gotta get back up above it yo above this uh this line here if we don't and we see the sellers come in which is what they are doing we're gonna get our continuation and now we're gonna get our buyers 49 and they're gonna be searching for stops as well so where we're gonna they're gonna be up here at 53 our 53 line here so let's see if we can get a skew on the bid and we get our buyers in here we should get a nice move back up into these areas here okay we need to see that bid here or this here we're gonna get some insight right here okay we found some buyers to take on the sellers were they able to get above it though no all right come on buyers let's see if you can get back up here love to see it no we got some exhaustion here to see if we get some selling selling if they can just show up here and this end this year european session here on on the downside here see if they can do it they've got it i mean that now we're now we're down below here we're looking for them to continue like this this is failing up here and we're back down below it you know you know we're reading the order flow around these levels here okay if we can get this see the high liquidity up in these areas here they're not down here buyers can easily trade it right back to 47 okay this is how to you know look and and understand the the the order book in here in fact let's take volume off for a minute uh and uh and just look at the order book okay see how they start to come in here and we get we get some uh some selling coming in okay we have a stop run as well okay let's take off the volume let's take off our uh so we're going to go look at the um just the order book okay because it's it's it's been given us some pretty good insight when when we get it okay there's some uh some high liquidity and uh let's see if we get buyers back up above it though they should be able to reach right back to 45 here okay a little more there see see them on the bid here they should be able to reach 45 46 maybe 47 now they're showing up okay we're looking for this liquidity to transact see now even more here see how they're pulling here we're still looking for higher still looking for higher see how they're pulling even more here and they're adding more here there's our 47 move they're even even more they're still pushing it here okay so you know the order book can can help so much here uh and understanding like where price might go it's not all about traded volume there's the other side of the trade here okay now let's see if we're we're back up to our 47 and a half and we're we're above it we're back up in it wow that's a really quick move all right i was gonna say like if we can get back up above it we're back to our 53 line is what we're looking for our 53 line up here okay high liquidity here at 52 that just just traded some of it it looks like not much but it looks like some of it traded okay 237 up here okay now what do we see now not not much not much we're between hot areas of high liquidity in here here we go a little bit on the bid here all right they're staying in the book too so we should be able to transact into 52 see they're staying in here looking for them to push it to 52 now see we're getting a flip there and they're pulling here at 49 okay was looking good in here for 52 right in here due to this liquidity adding into the book looking this is the the target here 52 and then they they came in here and they're pulling here so these guys don't really want to buy here on this pullback and look where they are in terms of the structure okay right right in that area here all right here we go high liquidity on the on the bid here and we're below it yeah nothing nothing shaken right now don't see anything it's kind of dark around both areas here this is a tough this is a tough session we know we know we'll be at high all time highs at the end of the session thanks to k k bowie uh based on i sorry logic i don't understand your question yeah yeah tom the volatility back and forth in here boy you had some really tough sessions and those afternoon sessions very very tricky well anyway i mean it's the like like we've been saying you know the the order flow is is what is going to give us some insight here and like right now well we don't have that insight like we we're not getting much from this order book at the moment i mean they're they're offering down a little bit lower here now that now they're bidding up and it's a battle i mean look at the battle unfolding here and we're not we don't know what we they're on they're on the bid now here and they look to be buyers but sellers are taking them on and then they pull so we're getting really a lot of conf confliction in here of trying to read this and get it get get kind of an edge here if we don't have an edge you just don't trade um you know we're looking for that edge if it doesn't provide an edge like it's just you know at our levels then you know we we just we shy away from it you know this uh it'll keep you out of these really tricky um sessions in here okay now we get a little liquidity on the on the offer here now there we get sellers here okay so they're likely going to go back to our 47 level okay and push it okay maybe 46 maybe they can get below it here as well uh let's look for even a pullback what about the opposite scenario if they come in on the in the order book here and we get to move back to 51 right see other you can see this order book kind of guides price uh and uh you know you you look for um a lot of times it's very very balanced and you're looking for that when it's out of balance okay and how does price react to it so there's some liquidity here at 49 see at 49 and a half there okay looking for sellers okay that was a quick quick little move but now looking for them to take it to 47 liquidity is down here okay they're still here at 49 49 and a half and we're finding some sellers so they should be able to take it a little bit lower here 47 46 okay now now I don't like it though like uh uh and here's why I was just about to say like uh uh now now they're we're down in this area here we hit 47 and they're kind of staying in the book here and it's dark in here they're not following down when they follow down like this we get some insight price is moving it's this is repelling price okay they came in came in here it was dark in here first okay in this area here uh we hit our area of liquidity at 47 and then look at this guy come in here 120 excuse the order book entirely right the most in the in this view the most in this view and one player has about 50 of those contracts okay also some of these other areas in here see the skew so we're looking for a move right back to these these previous areas of high liquidity now it happened really quickly but look at how what they're doing in here as well they pulled here and look they're already starting to pull here okay so we tested a 47 and a half the order book is it we got a big skew here okay and they're pulling up in these areas so first area is we're looking for a trade up into kind of top of the range here and this liquidity in here okay now if we can get back up above it uh or uh you know they're pulling here and maybe they're adding in the book let's see now we haven't seen this yet right we don't know okay now are they adding in the book yeah and we got the move up here and they're adding now in the book here and now they're pulling okay so at least we got this move here up to here let's see if we get what what other insights do we get here okay there's high liquidity here at 49 now these guys are pulling at 50 okay we should get the move if they if they're not going to trade with these guys at 49 and we got we got buyers in here and they're pulling up here we're looking for now fifth back to 50 and a half maybe 52 52 and a half and looks like they transacted okay now same scenario here now 49 do they do they show up in the order book here at 49 not really not really they're pulling at 50 and a half okay starting to show up down here at 49 it's dark up here 52 is the next area okay more in here in the book let's see let's see if we can get to 52 or pull back to 49 here but uh okay yeah 52 now let's get back to the current market and to get to this European close uh we we're up at 58 I hate I hate demoing stuff when we miss the moves um sorry about that does that make that make sense uh sense uh logical about starting to understand order book and and the auction here now that that little exercise this is actually what I wanted to cover um was uh uh you know starting to understand the order book here but then we're gonna extrapolate that to much bigger time frames okay so now the bigger time frame is we just traded up into high high liquidity here at 60 and 58 okay now are they doing the same thing the same ideas here okay are they starting to support it here if not and they're they're on the offer here and they're adding more in maybe okay well actually no they're they're starting to add more here now how does price react to this they should be able to trade up to 63 should be able to trade up to 63 now see them pull at 63 and see them adding in here okay now we'd get maybe a quick move back here and maybe they pull that liquidity but we're seeing the reaction in the order book so we're looking for 63 okay we're just looking at two two uh elements here and we're just trying to get an edge here by understanding the auction okay now we like I said we can move that out and to look at much much higher time frames and still get that edge it doesn't matter let me let me uh let me take the stops and icebergs off for a moment here okay now we're looking at our other our higher time frame levels back to 70 and this is a nice move this is a european close guys they're going to continue to move it on up looks like this these are kind of the moves we've seen at the close lately very tricky reading here uh during the the session and then the close we get these nice moves or after the close in fact um last uh last few days okay here liquidity on the bid and they're supporting it at this high level here liquidity on the offer is up at 68 and 70 okay let's see if we can get our move see it's kind of balanced right now between this kind of 62ish and 68 okay more liquidity starting to come in here and see see how sellers took them on that was different that was different behavior here they started to come in with a little bit more liquidity in here and then the sellers went for it right in here and the sellers uh they wanted it right so that now that's something a little different right now they're now we have high liquidity here on the offer and then pulling on the bid so let's see them reach down to 60 okay our 60 level looks pretty good it's dark down here sellers can bring it down here pretty quickly okay let's see what the reaction is more liquidity here on the on the offer no we're not getting it uh at these lower levels here we want to see them kind of skew it in here now we're balancing between liquidity at 60 and 65 okay and we're right in the middle okay they're pulling down here okay we should get the move to 60 and that's that was a pretty easy read but like uh um okay now let's see if they add in a little bit more and pull here and look for move right back up to 64 right back up 64 65 okay they're staying in the book here that's good okay there there's our skew and now they're trading too they're starting to trade into them and this is tricky at the close as well we're going to see some pretty big transactions in these areas here okay so now we don't get them they should be up they should be able to trade back up here 64 now that now they're transacting so we had a quick move and then quick to to trade back into it so they looks like they took them on and we don't know we don't have the volume but uh uh we're still back up above it okay we get a little skew here on the bid let's see I mean these guys they wanted at the close they want that liquidity is this we know that they this determine that right here so they show that liquidity they want it they went for it okay so if we get a skew on the auction here on the offer I bet we'll trade right here we go let's see 63 right here let's see looking for them now to trade down to 60 there there's a little bit more should be able to hit it okay here's why here's why we read this context in here okay now it may seem like this is kind of advanced stuff but and nuance but it it's it's really just understanding the auction uh and understanding the context in here well here we are at the close of the uh European session uh we have high liquidity in here that they bumped it up here and they started to transact into it and we and we thought well we're going to get a bump back up into 64 right because they're they're above it here uh then they took them on here right so they wanted that liquidity uh and then it kind of bounced around in here so we're going through a few different scenarios in here now if they pull uh um I'm sorry if they add lower in here uh and they started to in here then we know that the sellers are interested in that liquidity so all they're going to get a little bit of a push here well then they should be able to trade back down here right so they they did uh and then you can see what happened now uh the buyers started to come in and they lift that liquidity in these areas they did not transact in here maybe a little bit in here and maybe a little bit in here but you see them pulling in here and we're moving higher so now we're looking again for 70 okay so we're just reading the order book here and the reaction to that order book okay starting a bit up here that there's our answer they're pulling as well starting they're going to do it more they're going to push it right up into 70 here right it's it's it's it's kind of guiding us it's telling us this is where they want to trade 70 okay there's another another push here at at 67 high liquidity here at 67 so does that make sense you guys said this is kind of um you know a really nice um edge here or feature in book map of reading just the order book you know a lot of other um a software it they don't they don't have this and it's just so important and you'll hear a lot of traders talk about uh this is um oh it's all fake liquidity anyway i mean you know i could i could point to like many academic papers by financial engineers who make algos they make they're they're building algos based on the order book okay and and the trading but is it the order book is a massive part of uh here's our 70 level okay and still trading up a little bit higher here right so uh it does matter uh so uh you do see how i mean it just makes complete sense i mean it's an auction does that does that make sense so uh yeah let me let me know what you think i mean i'm i'll be happy to we can review it again if you like no no questions i mean you know it's um it's something that uh is kind of foreign to a lot of traders when they first start looking at book map because they've never had this this view and being being able to understand it the view has been mostly and and luck lucky if this the actually the view is actually mostly i'll show you what it is um it is the view is actually uh this and maybe you have volume down here and you're trying to understand order flow around these things there's there's nothing in these there's no information in these right yeah book map works with trade of eight so uh anyway now the next the next step and now this has been pretty you know it's a good one it's a really good one the next step uh in in software visualization here was going into um uh uh footprint charts or market delta charts which are good what do they show they show the volume in here so it's kind of like turning on the volume dots basically okay so now you have your candlestick but you have the volume okay so let's actually take the volume or the candlestick off here uh because we have the dots now uh and um uh now we're understanding volume within structure and this is market structure and tricky stuff in here too uh you know we thought we had our move back down into 40 and lower here uh and um and then the buyers came in back up and this is where they broke it now hindsight's easy right pretty strong move pull back pretty strong move uh but um the uh reading it in real time here like boy it was tricky in some of these areas in here uh and um now we we we got the uh we saw the trending move uh and looking for that trend to continue but then uh you know started to see whoa hold on a minute we got some buyers starting to show up in here maybe we got it no sellers take it one more time now buyers are back up and now they're moving it back up into these areas at the end of the close european close right in here so this is something to consider you know to look for the order flow and timings here uh but uh anyway what i'm digressing here what i was talking about was uh starting to um understand the um volume now right and price structure or best bid and offer here uh and can't your market delta charts can show that uh but you still don't have the other side of the trade you don't you don't know where the buyers and sellers are where is that supply and demand uh and then that's that's what we we went through in this exercise here to get some some clarity in that like how is that affecting price right so we just looked at best bid and offer uh and uh the order book okay and starting understand that and we can weave the volume in later uh like here here we go like we're we just traded into 72 and we traded through it back to 70 here okay well here's liquidity at 72 a book kind of flipped a little bit right it's not a really great book flip but uh would be wonderful to see if this was like very high liquidity in here now if there is now see the high liquidity came in here now what did the it see how this this is short term high liquidity see how it attracted traders and look at the offer now they should be able to hit 67 right i'd be looking for them to hit 67 and a half here now that's starting to flip itself as well now that's that's flipping right so yeah we have to have to flip really really quickly on that it's the opposite they're starting to show on the bid and we're starting to find buyers here so back to 73 is boy it's it's tricky now at the end of the end of the European close here see if the buyers take these guys on see it's um not giving us too much at the moment okay we thought we had a nice little reading here they're gonna pull they're adding here we should get the drop it's just back to point of control though 72 is VWAP okay yeah so we got our VWAP and our point of control very close together within a two-point range yeah there's going to be some really some bouncing around in here i bet all right let me get to a few questions here okay yeah you want to look at hero sure all right that's another another context now the hero indicator again order flow is what rules it it's just how the market works we look at these other confluences that have an effect on price and then start to put those pieces together as well like our stops our icebergs our whatever it might be looking at different markets right different correlated markets so let's look at the hero i'll put in a thousand so we have a thousand here a thousand here here as well yeah from what i've played around with it like i do not like seeing the buying at the top of the range um at all in fact uh when i see that in the hero i look to see if we can get down below those areas here and then get a move back down to 65 or 60 uh to be honest uh yeah i i to see large volume um or you know hero um uh indicators or indications up in these areas here um yeah it could move i mean if it's uh uh you know we this is the event and we'd look for the order flow yet again around the around this event at the end of these moves so i do not like to see it at the top in fact i'd love to see like the the the hero sell indicator here show up for like 2000 on the sell side here then i'd be looking for that move back down lower 68 and then maybe 60 down here well that's just one way to read it um so yeah you know look at the order book guys here again let's read this context yet again okay pretty high liquidity in here and uh do buyers take them on or not are they going to tangle with these guys okay they are a little bit now they're starting to pull okay now can we get buyers above it and can they go for these guys now up here at 74 you know a lot of a lot of the algos um look for uh well i know that there's these strategies to look for um when you start to understand the the the the um balance in the order book in here like you know basically down here at 70 and we're trying to get back up above 70 here then and and we have it at 74 so we're just looking for a move to 72 right that that would be kind of a balance in the order book is back up a move back to 72 okay that's another way to look at this uh information here now i know that's kind of a scalp uh but we can look at higher time frame stuff too right you'll see you'll see these moves in here like like right now well here's a skew okay so here we have it 74 well that's what we're just looking at in fact uh the skew though it was at 77 and then also down here at 70 so it was a seven point range now we got a skew okay they move down okay what's the reaction what what do what do buyers and sellers do in here buyers are going for it they want that 74 there they go and they flip okay so then now our our range here is 73 on up to 77 so i'm looking for something in the middle here or end end of the or you know the 77 level here okay does that make sense let me let me just uh mark it up here i i'm going through a lot of different things in here uh with this order book just the order book here so here's our range okay and then here's our bigger range right previously okay just but just based on the order book in fact let me let me uh let me do this here um i am going to uh go to heatmap settings uh and really skew it here uh actually let's go back to default and just go to skew that one all right okay so so uh yeah here we go so this was our range in here and then we had the skew in here all right well they should be able to hit 69 here no they didn't they they they traded in or some traded here and then they pulled so now we're in a different range in fact here okay this little range so look for you can look for a mean reversion which would be this area here okay i know this is getting messy here um let me let me get rid of this one for a moment just to make this point i i just think you guys will find this really helpful here um so and understanding the order book because it really really can can help uh and it can help on the higher time frames it doesn't have to be low time frames here and see how they're pulling here now we're looking for the move back to the bigger range here well if it's already done it um here but uh the bigger range is now up to 80 now where's so we're between 68 and 80 okay there's there's 80 right okay so now where's the range now it was way up here 4500 you know and just don't see anything else really significant in here uh 68 and 4500 okay all right so let's take a look at that okay where's our midpoint 82 okay i don't see any high liquidity in there 82 but if we get our buyers in here we get a skew in the order book underneath here like this i'm looking for 82 okay you'll you'll see how this this works out here here then now they're starting to come in at 82 see them coming in okay looking for the move to 82 okay what if we get another skew in the order book here underneath here's our range and we're just right in the middle of it right now okay or is this the new range down here a move down to 74 75 here 75 76 okay here's here's here's here's some high liquidity coming in here and we found found a little bit of buying here all right let's see if they stay in the order book and then we should be able to trade back up into 82 not they're pulling a new range yeah not really seeing too much right now anyway guys just wanted to go through that um uh in this order book here i'm starting to understand uh how price reacts to that order book okay high liquidity coming in here 77 or 77 and a half level and that was an important level earlier okay do what's the reaction here okay they're adding more in here 77 all right well then then balance should be down here if we get sellers coming in this is the first area i'd look for them to go is probably right here at 73 and a half and there it is so let's see um what causes dots or bars to print uh this is not ticked this is not ticked data uh this is uh just you know uh complete um uh can complete data in here and what i mean by that is not packaged and and shipped out um like uh like ticked data is uh at all that's a big distinction between us and another uh other heat maps out there really big here here's why let me let me put the the volume back on and then i think we'll wrap it up i didn't even get to like what i wanted to cover here uh today was like extrapolating from a microstructure to macro structure and what we can do it maybe next week um uh the uh um you know being able to understand some of these smaller little levels and then how it can move into bigger levels uh really good good understanding of uh uh you know how important it is how the markets work how what's what's making the markets move we've been going over the order book though and its influence uh on price like it it technically cannot make price move it can stop price from moving uh but as you guys can see like price reacts to the order book uh you know um immediately so you know we can look at spoofing and that kind of activity as well um the um uh what are they going to say here the um and why i brought the uh volume dots back on there was a question here i think um oh yeah about the tick data that's right so here like you know we're looking at every single transaction okay in book map um but you'll see even but even even even within some of these areas of the transaction if i put the heat map on um uh you'll see how there are order book updates in here okay that are not where there's no transactions at all like there's all sorts of order book updates in here right and there's no transactions so price is going just going sideways here nothing happening but the order book is updating right and the you'll see tick data will not do that uh you'll see the update here with the transaction another transaction in the order book updates a big big distinction uh that's why we can see like you know these these when we can read the order book and use that to our edge here our advantage uh to start to see like what's happening in that order book uh to give us uh uh insight here uh to where price might be going next at you you know you can really see the details in here okay now or if you want to zoom out and you don't want to look at those details that's that's fine as well okay here's our skew another skew in the order book here pretty high liquidity on the bid so let's see them test up here to uh they seem to be interested now we're right right back uh well you know it made it to the midpoint right now let's see if we can get another skew in here now you know you guys will see this a lot as well like um during um uh end of moves uh you'll see a lot of this it's it's fascinating to see uh how you know end of moves they they continue to skew that order book and it's it's like a spoof uh but um I mean you see it at the end of just about every move uh you'll you'll see it like um how price will be uh moving up and up and up toward an area of very high liquidity uh and then they come in at the you know the last uh kind of minute or you know few minutes and really narrow that auction with very high liquidity on the offer okay and uh and then you get the push up into that high liquidity let me see let me see if I can if I can find an example um yeah I mean it just it it happens all the time uh pretty pretty typical behavior you know if they need it if they need it they may need may not need it that's why you know we got to read the reaction to it like uh yeah maybe like some of these areas it's not a really good example uh in here I mean you really want to see high very high liquidity uh so let me see and then uh I've got to go nice move here look at that in the order book yeah I don't see a really good example here today maybe this here um would be boy probably the closest to it uh yeah not not a real good example today but you'll just see it like uh maybe in also the stocks we can take a look at maybe uh some stocks in here yeah I don't I don't really see it really really high liquidity underneath here just to push it and get it up and filled up into this uh these areas here anyway um yeah I've got to go and then uh we'll turn it over to Tom uh yeah he'll be he'll be streaming um pretty soon so uh let me just get to your questions guys and then we'll we'll wrap it up and call it a day here I've been going way over my limit here all right look at a strong move here um looking for 80 looking for a skew let's see if we get that skew underneath here and then looking for it not only 80 uh if they can pull it 80 we've got a different skew right okay so looking for high liquidity under here 76 let's see it 76 and then if what if they pull it 80 all right then we have a new scenario here if we get high liquidity here and they pull it 80 okay the new zone is is up here we look for the move back to 81 uh and maybe 85 okay 81 is the midpoint of the square as you get you can see the three dots there horizontal in the midpoint okay but we didn't we didn't get it we didn't get that high liquidity here on the bid okay and then pulling there we go there it is okay 81 looking for it 80 well we're almost there like 82 let's let's get to 83 okay here here's our new skew still looking for 83 okay pretty pretty high probability there's another skew 80 okay looking for 84 83 84 and we do get to 83 okay new auction anyway guys all right um let's take a look here uh few questions and then we'll wrap it up yeah thinkorswim you'll get you'll get the toss uh you have to go through thinkorswim for that okay they've integrated within their thinkorswim platform uh barry some of the things there that um uh the um uh yeah we've we've trained them all over there i mean they know exactly they know bookmap very well uh so they should be able to help you mbo is that's the mbo can be found on uh the marketplace bookmap marketplace okay you can go to bookmap.com uh and then under the more button you'll see a move to or the link to the marketplace in there yeah you can't yeah you can't get mbo on on toss yep exactly uh cvd filters okay yeah i'm sorry you wanted to go over that um cvd filters etc and i see your image there um xdoxer what reach out to support i can help you out there um but uh yeah it does it does look like uh you i from what i recall their cvd was pretty pretty good um you know you you could do a lot of filtering um yeah anyway uh i'll leave that one uh for now yeah thanks guys um yeah have a good weekend uh i'll turn it over to tom he'll get he'll get streaming in here um tough tough uh little session um i thought but uh uh let's take this uh i want to take this off let's just do a quick recap and take a look at it here yeah this i well we we did see the we were we we thought we were going to get our move higher the sellers came in they moved it back down dropped it we knew the sellers were in control at that point um and we're looking for the buyers to try to take control back into these areas here we had to get one more kind of dupe there's you know um move lower here uh and then uh and then the buyers came streaming and now of course this is when we look at the hindsight it's real easy but we're looking at it in some of these areas in here okay and then down in here that scenario here like if we can get back the order flow at this level this important price level here if we can get we know that this is a stop run here it's a big one if we can get back up above it right then we're looking for the and those buyers to try to take control back up above this level in here and also this level in here right then we're looking for moves back to other areas here a swing here point of control or where they drop from here and the next level is here and they've they've tested all of those uh so far and now we're seeing a move back to point of control right so now you know structurally uh if they if the sellers can come right back in here we're looking for a move back down to 60 and that's where the liquidity is so let's go through you know the look for the reaction to the uh auction transitioning in here see how we're still in the middle between high liquidity here at 66 and also here at 74 okay well let's see if we get some sort of skew some sort of insight into that with high volume right then we can be look for that we can look for these moves and these tests into these areas here all right all right guys yeah thanks a lot uh we'll uh i'll have the recording up uh a little bit later uh and let me turn it over to tom uh and look for his room to go live in a little bit uh have a good weekend everybody okay all right thanks for coming bye bye