 Good morning traders. Welcome to the traders lab. I'm your host Tom B. Can I please have an audio and screen check in YouTube and the bookmap discord trader lab? Good morning, everyone. Thanks for visiting the lab today. I want to make sure you know, uh, power's been intermittent here overnight and this morning, um, and when the power goes out, even if it's just for a minute or two, uh, I lose connection with the internet and everything has to reset. Routers come back and all it can be up to five minutes. Um, bookmap support is, uh, kind of in the wings and hopefully, uh, in YouTube especially, if I drop out, that's where there might be a challenge, uh, regaining access to YouTube since YouTube will think the stream is done. Uh, so if you cannot, uh, if I cannot regain YouTube, there's a link in the bottom of the YouTube. Uh, you'll see it down there. It can bring you over to the bookmap discord trader lab chat. You can access it there. Uh, you'll have to go through a, uh, welcome wagon. I think they give you a box of candy or something. You don't have to be a bookmap subscriber. You'll never be solicited, but it will give you access to the stream and in addition, um, this stream will be available for review, uh, for bookmap discord trader lab participants. Now I'm going to try to move quickly and I always think I never move fast enough, but I'm going to do my best. Just please be aware of the technical problems here, uh, within Costa Rica. This is what you get when you're in a little community, a block from the beach and, uh, the monkeys are swinging through the trees, you know, kind of adds a little interesting dynamic. So let's take a look, uh, but I got to take care of business first, general disclosure, all bookmap limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice or recommendations. Risk disclosure. Trading futures equities and digital currencies involves substantial risk of loss and it's not suitable for all investors. Past performance is not necessarily indicative of future results. Please remember this is not a trade calling room. And if I get into real time, that's great. If I don't have time, you can always review the stream. The focus of this stream is to help you understand how the market works, why it does some of the things it does, and how you might get in alignment with it using structured trades that are available to everyone to download in the bookmap discord trader lab chat. There's 60 PDFs of these trades. And what I attempt to do in this stream is share the narration of how these things develop, where structured trades based on what I share in the trader lab might develop and how you might trigger into them. And the goal again is to help you understand market mechanics using a high tier tool like bookmap to drill down. I call bookmap the tip of the spear. So we're using a top down bottom up approach top down being higher or intermediate timeframe depending how you look at that down into microstructure for triggering and reading order flow and the more minute aspects of trading for initiation of participation. So anyway, that's the goal. And please grab a pen and paper, jot down a couple of numbers. I'm going to show you a higher timeframe and I'm going to try to move quickly. If you have questions, please keep specific to what's going on here. I'll do my best to answer them. If I can do it quickly. And again, please remember I am streaming from Costa Rica and we are having infrastructure issues. It's those darn monkeys. So if I drop out of the stream, I will do my best to come back. And Steve, I hope you got my back on YouTube if I do drop out. And thanks again, everybody for visiting the trader lab. Let's see if I can do this without making big trouble. And believe me, big trouble. Big trouble is part of the routine here. Okay, so remember what's going to go on here. We're going to look at something called auction market theory. That's how the market works. It is a shopping experience. I do not use any indicators. And you might wonder why, because it's kind of like the tail of the dog, wagging the dog, you know. Well, what comes first? Actually, the market and the participant behavior comes first. Indicators are outputs. And they're random in the sense of they're not context sensitive. And this is a problem for those of you who are building your business or attempting to build a business around indicators and timeframes. In my opinion, that's not really the way it works. But you know, it might work for you. I don't know. But most retail traders are using a similar process. And retail traders usually and statistically don't last long enough to really learn how the market works. They think the output of the behavior as interpreted by indicators is how the market works. And let's just consider a Google translate. So you're looking for a math based output that translates behavior. I find that if I can translate behavior, and I don't need an indicator because the participants are the indicators, if I can work at that level and integrate that with an order flow tool like BookBab, I might have a better opportunity for alignment. By the way, if you hear screaming and crazy going on in the background, it's because I have a pool not too far from me and there are little ones running amok. And you know how they can be. So this is the higher timeframe chart. These are daily RTH candles. This is the only time based process I use. I want to show you yesterday or try to show you yesterday. There it is. So this is today. Let's ignore this. This was, and if you're in the trader lab, these are all posted or you now understand how to do this for yourself. This was our outside target for yesterday, 4931. And I think the high of the day. And by the way, this is not to show you that I know anything because I truly don't. But the high of the day was 33 quarter. Our target yesterday was 31. This is called a low volume area and it separates distributions. This on the right side. And again, I just have to give you a little idea what's going on. This is all the volume that is traded in the ES going back to January 3rd, 2020. This is all of it. Now you might think, well, S&P never traded up here. Well, futures contract when they roll over, there's a spread between them because of carrying charges. So the volume is constant. The number changes based on the roll. That's how futures work. So we're not worried about what this number is only where it is currently based on the roll over and based on the volume. So that's why this is sitting over here. What's important in this is this is a distribution, a rotation. And this 4931 separated this volume in here. And you can see there's a low volume area on the bottom side, a low volume node they're called. You see how it dents in and a low volume node up here. And by the way, if you're asking questions, I can't see them. They're all covered up. But when I clear all this stuff out, I'll be able to see your questions. So please be patient. And please remember, if I drop out, it's because it's Costa Rica and the monkeys are at it again. So 4931, outside edge. And let's look at the outside edge down here. Where is it? Huh? Where's this low and this low? Do you see something interesting? Outside edge. Now, let me take you to another place just to keep you, you know, this is kind of the kind of things that you go, huh, isn't that interesting? And that's how, as I was looking at and developing my understanding of how the market works and getting indicators out of my head, which was very hard because I developed trading systems. This now, if I'm showing you low volume nodes in the super high timeframe, call it the ultimate high timeframe, you know, going back to 2020, I think we can agree. Now, I'm going to go down to the next lower timeframe structure. This is intermediate, maybe, you know, and this is, you know, define it any way you want. It doesn't matter to me. But this, what I'm doing here is I'm putting a profile over just these two days, the re and this is called a micro composite. And what it's showing me is just the volume in here because they overlaid. So there was two sides active in these days. Okay. And actually, depending on where today ends up, which is this, I might expand this or I might just draw a profile over these two because they're inside each other. So anyway, let's go look at this. What does it say? It speaks. The market speaks. Now, remember auction market theory, we're interpreting the language of the market. There's no indicator. Our indication is participant behavior. So let's go take a look at this right here. If you look at this, now let's take the concept I just showed you in the higher timeframe. This is called the distribution. In other words, rotation inside of this day, these two days, I should say, the market came up, ran out of gas, fell in, rotated, you know, came down here. Do you remember we were on the short side this day looking for this to go, right? You all remember that and no bueno. We miss taking the stops out under here by just a smidge. So that was when we were short, right? Then the market reversed and it sets this whole thing up. Okay. Neither here nor there. Here's what's important. In this area, this is high volume. High volume is like retail. Now, when I say retail, equate this to shopping. So if a retail price has high volume, that's retail. You go to store, you buy a product, the seller sell it there, you buy it there. Everybody's buying it there at that price. Think of can of tuna dollar, high volume. That's retail. Well, the outside, it has an outside edge also of this distribution. Now, remember, this existed. This did not. Okay. The outside edge where this distribution was too low was hard for me to get it right there about 48 89 too low. Oh, it's on sale retail. I'm not paying that. Get out of here rotation. Yesterday, what do we do? We come down. That's retail. All right. Where's too low? What's the low of the day? Coincidentally, of course, 48 89. I cannot predict anything, but I can suspect everything. Now, there's another piece 48 83. This is the highest volume in these two days. We call that a micro composite volume point of control. What, what is that all about? That says in these two days, the retail price was here. So the highest volume in these two days took place right here. That's a magnet. And the market went up, tested this outside edge of this distribution and left it. So we have the potential to come back here at some point, maybe. And if we take that out here, and if we take that out here, and if we take that out here, naked volume point of control going down in fractals. Now I'm still in daily timeframes. Let's look up here. Yesterday, this our highest volume for the RTH was 49 27. Help me with this guys. What is today's hot? And that's retail yesterday, highest volume. And of course, the market sold off and did its thing. Now, what's the higher today so far? And this is not a recommendation because everybody's clueless. 49 26 50. What is the high over here? 49 27. We are shoppers. You never thought when you went in the trading that you were taking a shopping cart and looking for S&Ps. This was retail yesterday. It was too high. What is the job of the shoppers? You go back to the store and you go, now I'm not paying that. That is too high. And what else did we do yesterday? Let's go back too high. So too high retail open lower. Oh, I'm not paying that. Get out of here. I'm going to shop elsewhere. This is our developing retail price. What's down below? This 96 96 not recommendations. These are levels. This is the basically the price map. Now, I'm going to show you one other thing. I hope I got enough time. Believe it or not, I'm trying to move quickly. Probably go really. And then I still can't see your questions. If you have them, I'm going to show you one more trick of the trade. And what I'm going to show you is kind of before I had book map and this is how I was doing this process, which you're seeing here around 2010 or something. I was developing it for myself. I'm going, oh, let's go now. So you know, I don't use time. I use Renko. And I use Renko because I don't want five minute something or others or 50 pick one, you know, I don't use time. I don't believe in it. I believe in participant behavior. So what creates participant behavior? I found a little bit of a higher timeframe orientation that if I use six tick Renko, now this is not a trigger chart. This is more of a call it a intermediate. This might be equivalent to your 15 minute timeframe, except I don't use time because let's assume we're in a quiet market and it takes an hour for this range. I'm just giving you an example. Why would I have all kinds of bars lined up? I need to see the range. And right here, I know there is volume and it's a reversal bar. What happens in the middle of these bars? High volume. It's right there. So I created something I called a trade zone. And again, I'm clueless, you know, but let's go take a look at something here. This was the naked volume. I'm going to make sure I got the naked volume point and control 49 27. Remember, that was my target. I have a reversal there. So I label it important. What about down here? Actually here, I'm going to this is after the fact, but I wonder what I do with these, I'm going to show you some, let me just show you that I'm going to move on because I don't have time for this. This is the opening open down. And I'm going to show you the actual trades, but I want you to show you some kind of something you can do. This is a selling structure, a reversal bar. We come back and check the volume, which is in the middle right there. That's a potential short. We now have a reversal bar here. We break high. We come back to balance, and this suggests two sided trade, just so you know, I narrated this in the lab. Where do we pull back here? Potential long. Where's my resistance here? Scale. Where's my next target here? Reversal. Put in a trade zone. Break down. You kind of get the idea. So early on, what I was doing, and this is pre book map. Right here is high volume, by the way. Look where the median is. It's right at the high volume note. So when you see me doing intraday with high volume, I started it with this. So I wouldn't forget because all this stuff scrolls off the screen. And if I go down to a shorter timeframe, I'm just going to show you now. This is a six tick Renko. Let's go to a four and just see what it looks like. Does this look familiar to anyone? Too high. Break. Test. Short. Extension. Watch. Too low. Remember, reversal bar. Pull back. Check. Too low. Cross over. To where? To here. Back to here. What is this? Reversion. What is the test? Now, I dropped down to a shorter quote timeframe. Now, this is not how I trade. It's how I kept track of volume using what I call them trade zones. Just something I wanted to share. I hope it was worth our time. I will probably never show you this again, but I thought I know a lot of you guys are time-oriented and I know why I understand. Been there, done that. The reason I don't do it is I need to see the volume because the auction is volume-based. I'm now going to try to get these chats back and I hope this is useful. Let me know if you got something out of this thing. Okay. I think I got your chat back on, guys. So, just something. Okay. All right. Now, let's go. Now, remember, guys, again, if you're visiting the Trader Lab, thanks. I'm streaming from Costa Rica. I've had internet. If I drop out of YouTube, I might not be able to get back in. There's a link in the bottom of YouTube. You can go to the Bookmap Discard Trader Lab. You won't be solicited. You don't have to be a subscriber now, ever, never, but it'll be available to you. Now, I'm going to go into the developing view, if you will, and starting at the RTH Open. And these are going to be structured trades that are available to everyone in the Bookmap Discard Trader Lab chat, as well as a library of webinars so you can see what this is like. Some of them are up to four hours of real-time narration. So, you could see what this is like being narrated as it unfolds. But I kind of go back and I start with the actual trades that are in the Trader Lab and the structured trades. So, you can download the 60 PDFs and then, just like our traders do in the Trader Lab, anticipate the trades, have a trade plan, vet the trades, and when it shows up, it's, you know, time to go. And either you put it on or you don't, subject to you having a structural vetted edge. The business of trading is, you're operating in a random environment. And I know most of us, when we start, it's all about predicting what's going to happen. I'm going to suggest you remove that thought and you get, you kind of shift over to the gaming business, which is what our business is. Random environment, think casinos. They are in a random environment. They don't control the card coming out and the gamblers do their thing. It's all random. So, how does a casino extract dollars from gamblers? It's because they only play vetted games that have a statistical edge. For us, the games are structured trades or setups. So, it's really up to you. However, whoops, I got to get rid of something. Do you guys hearing audio coming over short trade zones or trade zone? Hold on a second. Yeah, okay, let me get rid of that. See, I had these set up to alert me, because I'd fall asleep at the switch, right? Let me get rid of these things. Hold on, because we don't want those. I mean, I haven't used these since, I don't even know, maybe 2012. I mean, I can't remember. But I'm kind of like, once you set something, I just left it there. I don't use it. I don't use, I don't trade off IRT anymore. But you know, back in the day, actually, it's still pretty important to me for a higher timeframe for exporting data and some other stuff. But it's not what it was when that's all I had. Okay, let me get back here one more click. And I think I'm good. Okay. All right, thanks for your patience, guys. All right, let's go. Yeah, Nadja, I think went over context at the top of the stream. Were you here for the beginning of the stream? Because I spent the first, almost first half hour on it. So if you haven't seen it, you can review this stream. If you're in the Discord, trade a lab chat, it's available to everyone. So if you don't, if you have missed it, you can watch it again. Okay, RTH open. Now, based on everything I told you, what do we anticipate? We have a couple of things. Let's go back and look at the levels that I reviewed when I went over the higher timeframe. There's that naked volume point of control. Yesterday's retail price too high. See you later. Have a great life. That was our target yesterday for, and remember, nobody knows, okay? Yesterday's high. This was our outside target. Everybody tracking. You see how it all fits together. Now, yesterday we had something called the value area high. That's where 70% of the volume took place between value area low and value area high. That is basically the area of acceptance. And the retail price was this. So if we fall away from, well, this, this, this, this, then the potential of course, and it's only potential, is to check this. The other side of the coin is to check this overnight volume point of control. Let's think in retail. ETH is an auction. It's its own little world, right? And if this is too low, what was too high? That, well, it could do anything. So we cannot predict anything. I'm going to suggest you take the term prediction out of your head and accept this. Put a different word or term. Call it random. Now, if, how the market gets to any location, if, when, how, all that is a random event. So if we can accept randomness, how might we get an alignment? That's the question. So let's take a look. So the whole thing, in my opinion, is overlaid on a chassis. The chassis I call it context. And so does anybody else who's been around for a while or understands auction market theory. Context is the condition of the market. And most of us, when we are developing traders, think it's indicators and squeeze the market into an indicator. But the market's dynamic. It changes conditions. The indicators don't, you know, what do they know? They don't know anything. They're just mathematical price based derivative outputs. So it takes us, it takes a human to create conditional statements to help narrate the development of the market and to have a formulaic approach, not an indicator approach, a formulaic conditional approach to basically trigger a change. In other words, triggering your mind. Something's changing potentially. Where does it change? Anticipate. I have the thing I say in the trader lab. You got to anticipate to participate. So before the market opens, I got the track laid out of cluelessness because I don't know if it's coming or going or what it's going to do. And you know it can do anything, randomness. So no prediction, just possibilities. Then I narrate with conditional statements because I want to try to recognize as quickly as possible the behavior. Then if I have structured trades, and this is what you're going to see in a minute, aligned with what I perceive to be the developing context and overlaid inside of my price level map, I then have an opportunity to participate. And just like all of us, take stops to protect my account. Now, the need to be right or the fear of being wrong does not belong in this business. You're going to feel it because we're wired that way. But I can tell you the casinos, when somebody walks out with a suitcase of cash, they just deal the next hand. They don't change the game. They don't make it up. They just deal the next hand. The dealer's not fearful that somebody else, the next player, is going to walk out with another suitcase of cash. They just play the game. Why? Because the only way they extract the dollars from their opponent or gamblers is to play the game with anchored inputs. And I cover this in my primer webinar. If you have a different belief, it's fine. I did. And the problem I had was using a random process in a random environment, and the gamblers walk out with cash. They do not have anchored processes. They have random inputs in a random environment. What does that give you? Old term and computer world, garbage in, garbage out. And the thing about believing that it's just tweaking, tuning, timeframes, more indicators, less, move of this or move a little of that, you know, we've all done it. I call it Trader Groundhog Day. The problem we have is we believe we're on the right track because of the random outcomes. The random distribution fools us into thinking we have a process that actually has an edge, where we are actually functioning in randomness and we're just going to use variable inputs and tuning, tweaking, and we have a term for that in this business, curve fitting. And if you've ever done trading systems, which I did for years, built systems, you'll learn what that's all about. Let's go. I hope you're getting something out of the skies. I want to show you the trades, but if you don't understand why, what's the point? This is what Trader Lab is and I cannot, you know, the thing I believe and it's just a personal belief and past performance is not indicative future results. I believe almost anyone can learn how to trade it, you know, but as far as being able to trade, that's a whole different issue. You're probably going to find, if you spend any time in this business and you're able to survive, that you're going to go down a lot of dead ends and you're going to be defending beliefs that may actually be defective. And the thing that fools us is randomness. Here's the first trade. So you all know to lay the lamp. We have a high probability statistic at the overnight high. We have that naked volume point of control above. We have our value area high, which is sitting up there. We got our value area low, you know, ignore this. Not important right now. And let's look. I'm going to open this up so you can see it a little bit better. And if you hear a baby screaming, it's not me, but you will hear me screaming for other reasons sometimes. So market opens here, RTH open. Let's watch. So here's the open. This yellow line is very important to me. And I always say in the Trader Lab, you don't trade the open until you develop unconscious competence, but you have to drill. Think about a high performing athlete. They don't just walk on the course or whatever it is, the field or the court and just do something. They drill, drill, drill, drill. Screenshots, circles, arrows, recordings, plays, they warm up, they have unconscious competence. The open is so fast, you really cannot process it unless you have a lot of screen time. So I always suggest in the Trader Lab, don't trade it. Learn it. Because what you're going to see here in high speed is what you can do in slow motion. But you've got to start slower because when you're learning to speak a foreign language and think of this as language, it's intentional. It's intentional. So that means you're converting it mentally. You cannot react quickly. At some point when you become fluent, whether it's in a sport, a high level profession or in this, you just see it. It becomes intuitive. Does that make sense? But let's look at the first trade. Did you guys hear Bookmap? I'm just wondering it came through with an iceberg alert. Yeah, okay, good. Well, that'll keep you from falling asleep. So this is the RTH Open right there. Let's look at the first trade. So right here is what's called Developing Volume Point of Control. Now, I don't use indicators. I do use volume. And the volume profile is a really simple thing. I mean, you look at them and you think you're on the moon, but really all it is is price and volume. So all it's doing is measuring something. It's not an indicator. It's not going to tell me anything. It's just going to tell me or show me the volume. Now, remember, trading is shopping, right? Get our shopping card out. And what we're trying to figure out, and nobody knows, so don't think about any of that, is what's too high and what's too low. How do we determine too high, too low? Well, you're going to think support resistance. I get it. But in the shopping world, what's too high and too low? Well, if the price is too high and what creates price retail is volume. If the shoppers refuse to pay a certain price, then the sellers lower the price and we get more volume at the new price if the buyers are willing to participate. Does that make sense? And I can't wait for all your responses. So I want to move on. So this is now the retail price. It shifts lower. Watch. Very subtle, very nuanced. Now, needless to say, I've been doing this for, I've been trading going on 44 years. So I think I have screen time. Believe me, it's not a badge of honor. I always say it's a badge of pain. Because I kept waking up a Trader Groundhog Day thinking it was tuning, tweaking more time frames, more indicators to compress risk out. Early on, I didn't understand my motivation was really risk inversion and emotional wiring had nothing to do with trading. The casino didn't build its games because it only wanted to win. It built its games because the only way they do win is knowing and only interacting with gamblers with vetted structured games that have an edge that favors the house and accepting the random distribution of outcomes. I had no clue. I thought, well, I don't want to lose. And why not? Well, who wants to lose? But I didn't understand losing was part of winning. I just wanted not to lose. And we're all wired to avoid pain. So we're going to focus on that, create more certainty. And that ties in with the term prediction, doesn't it? Just think about these things. This is what Trader Labs built on. It's built on, we have to differentiate the world of trading. So right here, chop, chop. The chop is an auction. Right here, I see volume here. I don't see anybody buying up here. Now, this is a suspect. Let's watch it. This drops down. This is now my retail price. And it's logical because there's more volume coming in. When this thing opens at 830 right here, RTH, it's zero. This resets to zero. So this yellow line starts at zero. And I'm monitoring in real time now. So you know, this is two seconds. This is why I'm saying this is not for the faint hearted. I can't even see it. But on a subconscious level, I am seeing it. And I'm going, but it comes out kind of like, uh, you know, so let's watch this now. So too high retail seller. Now I have a change of behavior. You see the seller. Now let's watch a little further. This is too high. I label it watch drops down retail too high too high. This is a trader lab short. Your stop would be here or here or there. It's up to you. And currently this is the opening swing. Now I got to remind you about something. What happens at the opening swing stops. So since we know the market tends to seek the paper or let's call it the fuel or the stops, the potential is for it at some point and it doesn't have to, you know, this is the joy to come back here. And there was something else. And I posted this in the trader lab and you're all welcome to visit the trader lab. We, I was anticipating balance. Balance is two sided trading. You got to know the lay of the land. Now what you anticipate and what happens are irrelevant in the sense of, because we can't predict right random, but the condition of the market suggested that we would come back up to that target up above, which was around 27. So I also know that if I get early selling and I'm going to take a short, you know, that's my job. I don't know because I'm clueless is that if I come across the mid the VWAP and the developing volume point of control, then I'm going into two sided trade. So let's look and the buy stops potentially are going to be here and I have targets above and below with 27 being my target. Remember? So this is a short stop here. Understanding it's vulnerable. Watch. Beepok migration. Looking good, Lewis. Now what this needs to do is push off from here to continue. Watch the behavior. Here's what it says. Now that's speaking no indicator. Too high, there's the volume. I'm not paying that. Let's leave this store. I'm out of here. How about over here? This is, these are consolidations, right? You see them? The bottom of the consolidation, low volume area, the top of the consolidation. You could see it here in the profile. This is what the profile is measuring, the volume in the consolidations in multiple fractals. Same thing here. So you guys got that, right? This is the highest developing volume for the day. There's more volume here than there was up here. And that makes sense, right? More time, more activity, sellers, too high. Now, microstructure, volume, sellers, too high. All right, below the mid end of VWAP, see you later. Beepok migration, volume. What do we need to see? Push off, watch. Right here, watch carefully. So here, I rotate, and it's like, but what was too high? This. Hmm. Stop can go here. Seller. Ah, thank you for that. Where does a test look? Let me try to get this. There. Too high. Volume, microstructure. I'm just giving you something to think about. Where does a test too high? Watch. Now, this is a problem. We're starting to go into what's called balance. Now, I don't know. I know this is too high at the moment. If I take it out, then there's trouble in River City. Watch. VWAP, fine. We have a trade in the trader lab. Right here, I have to be very careful, because if I come across mid and VWAP, then I'm coming back here. I got to label this, by the way. So currently, we're okay going down. This, there's, let me show you the targets below, by the way. So you know what I'm going for. This, value area low. So this is a target, and upside is a target. So so far, we're heading down, but we have to be very careful. Let's watch. So, now that is a change in behavior, isn't it? Look at the buying. Where have we, have we seen any buying yet? Well, a little over here. All we did was come back here, more selling. What about here? More selling. Don't know. Clueless. I think my data had been going in and out here. I don't remember. But you'll see if there's holes in the data. Now we come back here. For this to continue, it needs to push off. This needs to be too high. So let's watch. Notice here, this is the, this is how you recognize the potential to go into balance. Very subtle. This is developing volume point of control. There's more, and this is for the day. There's more volume here than there is here. VWAP mid. Right here, it needs to reject this. Right now, this is too low. And I can just, you know, come up in here, get some stops. If I get no buying above here, I can come off and continue on, you know, my merry way. So let's look what happens. P, P location now. Watch this. So buyers, this was resistance. Remember? Support, support, chop, chop, chop. Consolidation. We have returned to balance. And the potential now is, if we cross over, is to take these guys, because the buy stops are up above. So let's see what it does. Buy stops. Now, watch. Statistic is here. Resting liquidity is here. You would be taking a profit in front of this. This is where bookmap comes in. This is resting liquidity. You notice how it's been in the book from before the RTH opened? And this is important. This is how you might use order flow. And again, remember liquidity? Liquidity, I always refer to as like stepping on a banana peel, because they could pull. It might not be real. You don't know. But let's look. We've crossed over. I have 27 as a target. I have the overnight high as a target. I have resting liquidity. So subject to your plan. And this is the beauty of the trading and randomness is to come here. But I got this. Now, let's assume you're just hanging out and you're going, oh, this is wonderful. Let's go into the moon, Alice. Let's look at change. Coming up, this is here. You notice how it starts lightening up? So this is just nonsense, right? How would you know that? No way to know. I mean, knowing is not part of our business. It's always maybe. But let me show you the change. So we had down, we crossed above, and we'd be going for this and 27, right? Those are our targets. So right here, you're going, oh, it's great. Feet up on the desk, and we're going to have a good time. Let me get the cooler out for the champagne, the ice bucket, and we're going to go watch. We come up into that liquidity here. Don't forget, it was here. It starts getting spotty. This pulls here. When I see this, I think, you know, it's like opening a hole in the clouds. But what do I get? Watch. And there's no way to know. So don't worry about knowing anything because you can't sell iceberg executing by stops going off. Thank you. Or over the opening swing high. What do we know about the opening swing high by stops? We know that you know it. But what happens next is very important. Do we just keep running? Yes or no? Or do we just pick the stops? And if we have no buyers above the buy stops, then we can do that. That's called mean reversion. And you don't know. Here's your indication. Here's your volume. Break. There's my seller. This now in the micro structure is too high. And it's right there. That's volume. Okay, I'm not paying that. This is like your convenience store down the street. It's the way I think of it. It's still the shopping. It's still a consolidation and inside this volume. If the shoppers or participants in this area refuse to pay the price, the market is going to leave, or the shoppers, I should say, is going to leave the area. And it's going to maybe come back to the last retail price in the next higher time frame here. And there's going to be stops at the mid in the VWAP. Thanks for playing. Let's see what it does. And you'll also see a trigger. This was too high. We pull back watch. This is the beauty of auction market theory. Isn't this too high? This is a trader lab trigger. Now we anticipate to participate. We anticipate if we took the long, this and 27. We anticipate that we also might go into something called mean reversion. Now we don't know. So when this is too high in hindsight, right here, I see this and I go, okay, there's my seller. This price is too high. What does the market tend to do? It tends to come back. The shoppers tend to come back to the store you like to shop in. Since you're a shopper up here, eight o'clock, Saturday night, give me that pint of ice cream for the movie. There's not a lot of volume. It's a small consolidation, but the behavior says too high. I leave the store, but you like to shop there. You come back to the store, the high volume, and you go, ah, you're crazy. I'm not paying that. Well, what's the price in the next higher time frame or the supermarket? And by the way, don't be insulted by the analogies. It helps to align your thinking with something you're familiar with. That's the short to here is everybody tracking. That's called mean reversion. How are we doing in YouTube? I'm just trying to give you something a little different, you know? Sometimes I do. Sometimes I don't. So what's below us now? Fuel it at the VWAP in the mid, price check and aisle three in the supermarket. Now there's a couple possibilities. Notice the selling. So what do you, let's look at this. Let's just look at what's in front of us. Too high, seller, change in behavior. Check it. Too high, shop, micro. Let's look. There's more. Too high, seller. I get out of here. I'm not paying that. Shop, seller, pullback, to where? Look at the line. Too high, right there. Too high, too high. And, and, thank you book map, that. Are you guys tracking? You see how you might put pieces together? It's a confluence of pieces. But the key piece is this. I call this the chassis. Everything is overlaid in multiple time frames. As you think of them, I don't, but it doesn't matter. We'll just use whatever you're comfortable with. So there's your seller. And this gives you more confidence that this is a good trigger. But you notice it's happening after the fact? I think happens when I see this. First of all, this is stating in the book. Pretty much, you notice they're here. These guys are, they're sellers in here. I mean, you can see them, right? Sellers. Once they get their position on, and this is just maybe, no proof, you know what I mean? But it's, you kind of try to think about it. Now this comes into the book. These are sellers. They have no intention of interacting. They're just pressure. Think of this like wind or a pot that has heat, but it's going this way. Instead of up, it's going down. This is pressing. That helps create this move. Okay? So you'll notice this is dark underneath. There's no buyers in here. I mean, there's some buyers, of course. But this is pushing it. And this is pulling as it's coming down. Can you see how the order flow can help you? So let's go take a look at this thing. So let's look over here. Volume, order flow, press. Now let's look from over here. And we are in something called balance. So this is rotational trading. Now this is a context, and it's outside in trading. It's not inside out. Where do we come back? Let's look a little further. Come on, guys. Let's focus. Too high, too high, micro high volume. Where are we trying to go here? If you don't have a trigger, let's look at this. We're out to location. Remember, location, this is like real estate. You don't have a way in. It's not your trade, or you're just sitting short. Oh, look at that. Location, location, location. These are shorts. Outside, location, shorts, sellers, location, sellers. This is called mean reversion. It's a specific trade plan. It's called outside in. And it can always change. You could zig and it could just keep going. Life in the fast lane, part of the life of the random nature of this business. The behavior is random. We don't know. So you're just short, short, short here because it's outside it. Now the thing with outside in trading, it works from both sides. However, what do we know? The probability is leaning to the south side, but, and here's the big but, we have a location up top that is retail. And if you think about it logically, this is our retail price, but in 25, by the way, has this resting liquidity with