 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map and So let's let's just jump right in and start to go through it here Looking at the S&P and then we'll get to the disclosure in just a second here All right, so we can see the sell-off here continuation from Friday now Regarding this Bigger picture move here, you know, this is something that if you look back on the 15th of August It was up in this area here. It was The 12th and then I think Also the 15th in here So this large move above this 42 50 that was was a rather critical now We saw this in the in the webinars and and talked about much much higher time frame Liquidity and we knew that larger player is getting filled up here It hung out here all week long and then finally broke below on on Friday This is really I just want to point to this as Understanding levels of liquidity and who's taking the other side of the trade we can start to look for this scenario to unfold if I'll find a clip for you guys and Just to understand or go over this point here on how to Utilize the liquidity heat map on all time frames very low time frames as well as very high time frames So this was a really good example. I think of a very high time frame And then understanding the break below and and look out look out below after that. I mean this is all Whole a lot of trading all week long above that area positioning of larger players and and this is the outcome of it here So we've come down into we marked up these line. We marked up this line quite a while ago This is the daily chart over here on the left and then we you know Came back from vacation August 1st And then we're looking for kind of the move and the spike up into these areas here Test this line Maybe go a little bit above it and just test it and I was figuring it would probably dump at that point No, we saw a very strong move above it And then we saw the very strong move also above this 4250 area And that's where we noticed a lot of liquidity getting filled on the offer All right So and that that started to some of those days when it just doesn't make sense of like why it doesn't reverse You know, is there still more buying pressure? And you just see this liquidity just getting filled like hand over fist It it clues us into starting to understand that something else is going on in the bigger picture and these kinds of scenarios and this kind of content is something we want to cover during these webinars So that you can utilize that to your advantage and to your edge All right, so you can see just a beautiful trap on the 15 minute chart now We're looking at one month back here on the right hand side 15 minute chart. I mean, this is just it's beautiful. Look at all of this Trading action all all last week except for Friday Above the 4250 and then here's the here's the easy move last week pretty tough trading Here's the easy move problem is that today it's already done the move, right? Here's our open cash open. It's already and you know here and we're down to another level that I'm not sure why we marked that up Maybe because of the break here and the break here We're at that level. We would start to anticipate a bit of a slowdown in here We'll see, you know, maybe maybe we'll come back back down and fill the gap here This was back on God, this was kind of early August or no late late July maybe and maybe fill that gap in here. All right, so Yeah, we'll this this is an area to take a look at it's about 41 28 Or so and then we're up here at 41 67 at the moment. All right, so just looking at the bigger picture here and we're combining in these candles here 15-minute chart one-hour chart and daily chart We have the 4250 marked up here and we're combining that that price action with the order flow That we saw during some of these days. Okay, so Just wanted to go over that and we'll continue to take a look at it. I think As we as we move on here in this webinar now this webinar here is about understanding market structure and candles this is something I wanted to it's the same topic as Fridays except Fridays. We really went over a kind of traps Icebergs, etc. And that was a challenging session to be honest it was very choppy and you know, we knew the direction was down in the in the bigger picture and We're looking for the continuation on down during that webinar we're looking for a pullback though and a move back up and It just it was muted and Yeah We saw some some challenging order flowing here. Here we go now on the move down As you can see just breaking this level here at 65 in this swing here So that's 65 down to 63. Yeah, we'll see we'll see this is a nice stop run already We're already getting a pullback here and we'll watch this area here around 65 Just where it dropped from understand the order flow around that So before I jump into all of that, let's go over the risk disclosure Okay Okay, general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations risk disclosure trading futures equities and digital currencies Involves the central risk of loss and is not suitable for all investors past performance is not necessarily indicative of future results. Okay, so How many of you guys in here look at candles Would love to maybe I'll even put a poll in here Are looking at the not bar bar data, but candles in specific We just looking for some sort of feedback in here Okay So, yeah, there's a poll there in in YouTube and we'll try to get more Nick you do. Okay. Thanks How about over in discord you do for the daily Kevson, okay? Yeah pro killer. Thanks. I'm so bad. Yep. Yep. Okay. Yeah. Yeah makes sense looking for that that larger That larger picture just just like what we just covered But now that's what is just so funny here is like I was mentioning earlier Like what we uncovered here in book map up in this area on those days on those up days the initial up days Right, there was a whole lot of other stuff that happened up here during during the during the week that was I thought rather confusing but This this move to the upside I mean it was just waiting kind of waiting and watching for this 4250 to see what the reaction would be around that area here Anticipating the primary scenario would be anticipate the break If if the news was good if you know interest rates or I don't know whatever it was was good Then we would look for a bounce off of 4250. Okay, maybe kind of a reset off of this area in here and look for the continuation move of Off of 4250 instead you know, we're looking for the for the drop and the the bar data in here, but you know, it's aggregated data within a period and it doesn't offer you that kind of Transparency that looking at the order flow and book map does so You know to get an overall understanding of this. What what can we use? What what do you guys use? Let me put it that way because I'm not looking for a specific answer How do you look at it? Like I'm just kind of curious like what is it? That you look at within the candles. Do you look at trends? Do you look at ranges? Do you look at the candlestick patterns? on on multiple timeframes like so for example here, obviously, this is it closed lower here on the daily And the the pattern would be that you have all of these up here And then here's the the the bar that moves it away from that area So, you know, if you're looking at specific candles Then you would be looking for the drop here Or are you looking at ranges and then the break of the range? You know something like that. There's differences in here I'm trying to make a distinction between Like just bar data and candle pattern data, okay, so Not sure what happened to the pole in there Candles been on on book map. Yeah. Oh boy. Yeah, that's it. That's that's that's what I'm doing as well But just try to get a feel for it in here Can you please go over the stop iceberg indicator? Yeah, sure Andrea? I'm so bad You look for ranges and breaks of balance. Yeah. Yeah, that's some of something that you can see within here We even we talked about this on the daily chart over here because it was You know, I was looking for that spike above it and then the drop But this was all bullish in here and look at this In here. Okay. Well the way we've been covering in here is higher highs higher lows looking at the pressures of the buying and selling and of course, it's like It's a it's speculative By looking at the wicks is that what buying or selling? I mean like, you know, what is the position within it? We it's really kind of tough However, and this one is not so bad when you see that like this this little candle right here Okay You're looking at a higher high and a higher low and there's buying pressure even though that's a red candle Hey, it did make a lower high here for the day But there's a lot of buying pressure that day Okay, so we did get a pullback here a few days, but it never broke the low Okay, and it did break the high here the neck the very next day All right, so maybe that was a reversal pattern. Nope It was not anyone that went reverse in here and let's just zoom in a little bit So this is the reason that we're looking at this and zooming in like this is because now we're going to extrapolate this to the order flow All right, so in here, you know, yeah, this doji worked out pretty well for the next day But the structure in here is still bullish And that's really important to understand Okay, that in fact you volume profile guys are gonna look at this cluster in here And you're gonna know that this is your your high volume node somewhere in here And you look for a retest of the high volume node and and a bounce off of it as a possible scenario And then the move upwards. All right, so that's what we're gonna look at here within the order flow And we'll look at some of the candles in here Okay Hi, Kenashi. Okay. Yeah, Gus. I'm not a fan of the hi Kenashi. I'm boy when they look good. They're they're beautiful In fact when we first came out with these Delta volume dots in here it kind of reminded me of hi Kenashi, you know, these Just beautiful moves here of looking at pure red Dots or pure green dots to give us some insight okay, so I'm gonna take a step back and we're gonna look at this now We're gonna look at this in here as In terms of candles, but also like who's in control in these moves and we've talked about that many times but the Let me see here Yeah, Matt will double tops and double bottoms, etc. Or or like these kinds of candles are candle patterns or or just patterns in general You know ascending wedges or descending wedges or whatever it might be triangles It's really the order flow that matters. I the the pattern in the definition of the pattern. I don't give a hoot about It's about the order flow within it Are we gonna see that fail or break? And we want to understand that because we know that someone's gonna get caught on the wrong side Right, and we're looking for that. We're trying to start to like look for what might unfold here And and we look at the buying in here We look at the the bid or the offer in here as well So like look at this this we just saw this breakdown here this move lower into the 63 area and and we're like that You know, okay, it's breaking down. Okay, we're looking for lower lows, etc But I Wasn't so sure about it the The reason being is that this is like what 65 down to 63 two points Okay, well, it's easy for you know, if this was four points five points That would be different then we'd be looking for a shallow pullback in continuation Instead we got, you know, we have this bigger pattern emerging here Okay, so actually right now. We'll look at the bars down here Okay within this area and so I'm just gonna cover this triangle pattern Then I'm gonna get back to what I wanted to cover about the bigger picture in the candlesticks but the The volume in here. Well, you know, it's starting We're starting to see quite a bit of buying in here. We're starting to see a lot of green dots big green dots In here and it's kind of all over the place right now It's not this this action in here with the volume dots is not very clear Okay We're still making lower highs and lower lows though the the structure matters here Okay, so we would anticipate this move lower here just due to the structure now I know that's happening as we're speaking But you know, we're always looking for that This is what we want to look at though is the bound potential bounce out of this area because of this buying So let's see now I'm looking to see if we can get our buyers hit this liquidity Come up here and then right back up into 65 up here 64 and 3 quarters And then maybe even higher 66 67 maybe 70 Right because we have buying in here and we have high liquidity in here So in within this pattern All right, so we're looking for now that scenario to unfold in the order flow in bookmap. We know these guys got filled Actually, not enough sellers to even fill down here at 60 at least not yet. Okay. Looks like they're gonna go for it here One more push Yeah, there's still still some sellers in here Okay, still haven't tangled with 60 400 contracts there 300 contracts now They just pulled some and added it one lower here. All right, so that's bullish, but not as bullish And this would be a lot more bullish if these guys pulled in here and added it higher Okay, so we can still look for sellers to try to hit into 60 and 58 and three quarters Okay, so here they go. There's 60 All right now, let's see and they they got filled right they're getting filled they got filled in here They filled these guys in here at this 60 and a quarter now 60 just got filled Okay, now we're gonna we're looking for that potential scenario also 58 and three quarters All right, and let's just zoom in here a little closer with our lines Okay, we're pattern within a pattern Okay, and we're looking for these big green dots to try to break it And then trade back up into this liquidity up here 64 to 65 Okay, and that's just one scenario Right, I mean heck, you know this might break and then continue on down to 50 here All right, so we're gonna look for both scenarios here Okay, let's let's look at this move into 58 and three quarters And then we're gonna gauge it here. We're still making lower highs and lower lows So that we need to break this little swing or these little swings up here first Okay, the structure needs to break Now if you don't like waiting for that and you start to see some buying coming in Okay, you could you could you know it could be your trading plan you know you have to to back test it and Look for exhaustion here look for them to maybe chase up and look for buyers to come in here And you could trade it up to those areas and take some off and look for maybe the bigger move However, just be very careful because you're still the structure has not broken yet All right, so that is a countertrend move and it's like trying to catch a knife However, it's it's I think it's possible with the By reading the order flow in here see the bid starting to come in okay So now they test it up here, but you're not out of the woods yet, right? You know this could be that little false breakout and then watch the sellers come in and just pound this Okay, so but you could trade it up to there take some off now. That would be a quick scalp And then just get get stopped out of break even on that you gave it a shot right in fact You can even start to look at maybe this is a breakdown at that point They have to be pretty pretty flexible with your with your execution on your trading in there Okay, so structurally it's still making lower highs and lower lows this this just broke above this little swing here or these little swings That's it and not on high by volume Okay sellers, let's see if you got it here this 58 and three quarters trade into it through it and Down to 55 maybe And we're looking at the figure down here for 41 50 And that's a hundred points from our 42 50 area, so here are the sellers okay, they're coming in all right now We got to watch this too Okay, so enough selling pressure to do that. It's not much of a point Movement though. Okay, so it we look for the other scenario here now. We're still going sell side We're still looking for lower lower highs lower lows But we're looking for a potential scenario here where If we can get buyers back up above our 58 and three quarters All right, so now due to these two scenarios. What's the order for telling us to give us insight? Not much not much right now Okay, it's still sell side here Still sell side looking looking for the yeah I mean it broke down here and and you would not be buy side in here yet You wouldn't look for that All right, you'd have to see those big dots Let me get my pen tool out and you're looking for big green dots You'd be looking for big green dots up here. Let me just go with a dot. Yeah, no Captain price. They're leaving it alone. Yeah, absolutely. No no one's interested Right not yet Not yet So yeah, I mean don't touch it, you know until you start to see that okay now even even here did it make a higher high No, not yet Right so Now you can look for your sellers below here You know So Anyway, these different scenarios Is what we go through in here and we then we look for the order flow to support the scenario and the order flow reading is pretty Simple this is not complex stuff You're just looking to you're looking for someone to take control and you're looking for the order book to support that control Yeah, I mean You can see we're still below this Our 58 and three quarters All right. So anyway, I went through this and this so far at least this pattern here Well, we We're looking for it to possibly break We had our reasons we had the a lot of buyers starting to come in We also had the high liquidity in here Okay, but we never got the buyers to come in And we also read this liquidity in here Right that also gave us a clue that for that continuation Okay, down to 55 Right because they pulled and added lower. They're getting filled but they're pulling and adding lower All right now now we're coming back up now. We're above our 58 and three quarters. We just broke this swing Okay, looking for a pullback to 58 and three quarters See if we can get that and so on so as someone else 58 and three quarters liquidity pulled here added up to 58 and three quarters and Look at the buying up here not a whole lot not a whole lot Okay, they're on the offer here here comes our pullback to 58 and three quarters And this is gonna be a big question here 58 and three quarters What's that order flow look like? Do we see any conviction in here? Not really not really? So yeah, I'm still still looking. There's our pullback to it right to it a little bit below it and Let's see if we can get sellers push it through this area here Right, we just didn't get enough buyers up here So we're still looking for that continuation here Yeah sell ice here as well nice captain price. Yep Yeah Exactly captain price. Just leave it alone until you see some sort of like Commitment or conviction here There's there's not there's no reason to change until you see that conviction now We're watching it closely in here looking for that potential a Commitment into a long here Okay, but that that's that's it. You know, we have to kind of really stock it To look for it. All right. So anyway, that's the triangle pattern here or this Descending wedge pattern in here. It's not triangle And actually it's a pullback to 60 or 58 and three quarters and then continuation here is kind of what we're looking for here Right, so it broke these little swings, but the bigger swings it did not break and that's exactly how you get these patterns Okay, so looking for the continuation here back down to 55 and that's Let's see them try if they can push it through 55. We could look for a double bottom also down here, but I Don't know. I don't see a whole lot of buying up here So looking to see if we can get our sellers to push through 55 And then hit the figure down here at 50 There they're Levy there are some candles in here. So let me show you that falling wedge bird. Yeah, mm-hmm All right guys, well, let's uh, yeah, we'll put in the A lot of minute we do have candles in here and I do want I did want to go through this All right The candles in book map and and start to understand because you know you guys are looking at them All right, well, let's understand the order flow within them Okay, now now look this is getting really interesting. Okay, so We made a higher low here so far Did we make a higher high looking looking for these buyers to charge right up after this 50 or 61 here? Okay, looking for it is the bid helping a little bit. They're on the bid a bit Okay, but we're finding buyers now. Okay, we made a higher low Let's try to make a higher high looking for the move up into 61 And if it can trade into 61, let's and let's even take a look at the break here All right, so this is how much it broke What just a point really? Okay, so we'd be looking for maybe a point break here as well Something like that up to yeah 62 looks pretty good okay, so Yeah, not not too much not not too much We didn't even get the move into 61 and we're already getting our pole back here So we made a lower high But we made a higher low Okay, so we retested back down here Starting to find some buyers a few. Okay. What's that bid and offer look like? They're on the bid at 57 starting to pull Okay, and then sellers do transact into it. All right, let's see if we can get buyers back up here Here we are. All right, so this is looking pretty good now Are better I think here a few more buyers up here a Few more buyers up here a stronger bid here. No not yet still not ready yet. Okay sellers coming in And breaking our little trend line there and let's see let's see what unfolds here Still actually still looking I mean due to this structure in here and the lack of buying in here And sellers starting to mountain here. We're still looking for lower lower move here 54 all right, so lows of the day Okay, some buying But yeah Unless we see a ton of buying in here We're still we're still looking for 53. There's there we go, and then I think we can get to the figure at 50 one thing about the figure that we've noticed many times over is the We don't quite get there and then then we will see the You know kind of exhaustion on the sell side and you know has to come back up and test some of these higher areas To finally get down to that figure and and or below it. So that's one of the reasons like why Take a look at your some of your Trading strategies and execution to front to consider front-running some of those areas all right, so I'm gonna just have to put the brakes on this here and we're gonna take a look at what I wanted to cover here I think in the bigger picture So let's let's take a look all right So let's even look at our 15 or our five-minute candlestick chart here We'll look at the one day here. Well, there's it's really clear on them on the 15 minute We're just going lower here Okay, what about the five well the five we can see these pullbacks and then continuation all right and Let's just zoom in Well, we can see enough here. I think okay, so now we're above that little close here on the five, right? All right, so then you would be looking for on the in your candle back to 41 60 here Right if we can see more buy it and we're seeing buyers coming in here on the candle. All right. Let's look at book map Okay, 41 60 up here just the high of the range Yeah, pretty good buying Okay, the liquidity is in front of it here. I imagine these guys are gonna pull Okay, and I would love to see it come up and retest the those wicks that we saw right here And we've got enough buying pressure in here see the buyers coming in here Okay, so we have the buyers up here now. This is what we've got to watch though is the is the pivot Okay, the other scenario is we break down from that on heavy selling right now. I Think the buyers got it. There's it. That's enough buying in here Okay, a little more up here at the top and then we should get it back up into 60 61 all right and Here we are looking at this candlestick chart looking for the test up here now. We could also potentially Look at some of the structure in here in the five minute. We might have to go down to a one minute Even that's not very helpful Yeah, we'll go with a five Which is fine And we'd have to come all the way back up into here like 64 or even here like 66 ish Area, I mean this is a strong move out of here right here 6970 okay, so 64 first test is up here 60 these wicks Do we have enough buyers to get up to there? I? Think so I think so because look at the buying pressure in here Look at the bid starting to support it here come our buyers looking for the move up into here Okay, we have our higher time frame supporting it as well Okay, so we're looking for it This is see how you can start to look at these areas as higher probability Okay, we have more things on our side here to look for Okay, let's let's add another one in here. Let's look at the NASDAQ. How's the NASDAQ doing? Well, it's already kind of come up into these areas Look at the strong buying on the NASDAQ here Look at the pivot beautiful pivot point here on on the NASDAQ Sellers down here. Whoops Sellers down here the buyers up above it Okay, here. They go on the NASDAQ. We should come up to here and maybe up in two Maybe the figure there 13,000. All right, so looking for the S&P to follow suit and Looking for a bit of order flow to support it here Let's see the bid buyers and a breakout Okay followed by that after that huge stop run here Yes, we can even draw up our The pivot we see is here. Okay, but you could also draw it here. You see the sellers here below And the buyers up above Now looking just for the move higher for right now just very short term. Oh boy. Yeah So You know right here right now And that that's it. We're not looking for much here, right? I mean, we know the trend is down bigger picture All right, we're just looking remember we talked about these wicks here So the retest up to these wicks we saw that some of the That well we saw the candles in here We looked at book map the order flow supporting it. Okay, so we're looking for our 60 level We've already tested it now Question can they break it? Can they break 60? We would look for some profit taking up here There might not be much there might be even more buyers up at 60 and then the next level would be up here at 64 Okay, so we're already at 60. Let's take a look. There's our buyers There's a flip of the order book Okay from offer to bid and they're starting to pull up here This opens the door for buyers to hit our 64 or 65 level here. Okay So again, we don't know what's gonna unfold But we're going through the scenarios and then we're looking for the order flow to support it Okay, that's when we have a Higher probability For the for the the trade to work out now Nasdaq here. This is another one to add in here Look at the Nasdaq move to 13,000. Okay pretty pretty simple read here Okay, this is a very different than what we're reading on Friday, which was hard reads. This was this was much easier I think I mean, it's not it's not really simple. Let's put it that way like there's other days We're just like, okay, you know, it's clear. It's clear. Which way it's going now Nasdaq's going higher S&P we're looking for a 64 level here Or 65 Alright, so any questions on on reading this with your candles? Okay, now we can also look at the candles with you know the patterns within book map the candlesticks So for example, we go here We can look at five minute or we can look at one minute, you know I know I know a lot of you guys look at your one minute candles All right. Well, yeah, you're no problem. Look at the order flow within these one minute periods Okay, this is not good. This is not what we're looking for on that one minute period In fact, we look for the sellers to try to hit down to here back to re retest 60 here Right some selling pressure more selling pressure red dots in here But look at the bid see now this this is this is great. I mean, this is where I think the understanding your candlestick patterns And and your liquidity in here, okay by maybe by zooming in maybe this is the best way Okay, so what we can see that that relationship here of the liquidity And the the transactions within the candles Okay, so we were looking for the that pullback into this 60 level we went down a little bit lower here And now let's look at this candle developing candle right now. Now. We know there's some selling up here, right? Okay, due to the wicks. Well, where is it precisely? Well, it's here Okay, this is where they broke it And went down lower All right, and now let's we got a quickly kind of pivot here and jump into our higher time frame All right, so we got up here almost to our 64 level 64 65 and we still may right it might bounce off of down here around our Kind of well, we thought 60 but it's coming down a little bit lower here. Maybe 58 and a half Okay, we need to see though and let's jump back Okay, so are they supporting it? Here's here's where it kind of broke out from and that's where it's retesting now All right, so let's look for this developing candle in here and they're pushing through Okay, more selling pressure Okay, so now bottom of the range then okay look for some of these ranges in here on your candlestick pattern 57 and a quarter 56 and a half Okay, still more selling pressure Okay, here come some buyers and they're pulling now at 60. Okay, so we're gonna have to Look at this possible scenario and retest back up into 63 now or 64 or 65 Okay, they're pulling here. They also pulled down here though Okay, we're finding our buyers now Yeah, I know it gets confusing in here. We're looking previously at the at the at the move down here, but buyers came in right Sellers look at the retest in here. Look at the re we got many retests in here. No selling Okay, instead we got a little bit of buying in here Okay, so now our candle closed above this candle here Looking for let's see it. Let's see the original move that we wanted to see Okay, was Retest into some of these areas here a bounce back up and retest up here to 64 And 65 Can they do it? Let's see Okay, yeah, this was the this is the area. We'd want to see it. Yeah, so let's see it buyers. Let's see what you got and Let's see if you can do it. No look at that high liquidity comes in and immediately sells off So we got it. We got some good insight here That high liquidity comes in and we're not buyers are not interested. Okay. Now. We're right back again Let's see. Does that player come in again? I don't see him. Right. Let's see it now It's dark in here still I there's a little bit of a flip not much Okay, looking for that that bid in here to give us some sort of insight and nothing Okay, still finding. I mean basically this wick in here. We found some buyers there up here actually it's not sellers But price is not supported This is where volume profile is nice because did it auction up here? Yeah, it did and were there buyers up here? Yeah, there were that's what made up that wick, right? All of this in here So looking looking for it. We should get our breakout now. Let's let's look for it here We want to see a little more on on the offer on the bid here, but it's still auctioning up here. Okay, and we're still Still finding wicks here on this minute chart. I want to see the buyers above the wick. Here we go Okay buyers. This looks better on the offer. Let's look at a flip maybe and on the bid There's still buyers up here great looking for them to break it now 64 and 65 the one thing that we don't have in all the pieces here is that is the bid Okay, the demand here on the bid It's pretty weak Okay, so that's not really high probability All right, but we do have the buyers auctioning up here. That's good All right. What about Nasdaq? Well Nasdaq selling off okay So we should look for maybe S&P we didn't find the bid here Okay, so retest back down to 59 I guess or 60 here came very close to it already Yeah, watching stops in icebergs is another confluence in here. Oh boy. No question about it This is really really nice in here. In fact quite a bit of iceberg buying also quite a few stops in here all right, well Buyers couldn't couldn't do it Uh, they tried they tried again couldn't do it Looking for our sellers. Let's see them hit not only down to this 60 or 59 level here I want to see them trade back down into some of these other ranges 57 and a quarter. I don't really see much there. It's more down below this range here. So around 56 and uh 55 52 53 All right, so they tried we're looking for them to hit the 64 65 doesn't look like it's possible Okay, so and uh sellers hit into this liquidity and traded through it. There's still supply here So let's see it. Let's see it on that sell side And let's see that 56 and 55 Okay, you can even see the kind of almost head and shoulders in even in the candlestick And not not really but on this one minute, but uh, you can see kind of this Basically like a triple top, but there's a shoulder here and there's another shoulder here Okay, we're down to our 57 level. That was the first one even though there wasn't liquidity down here Okay, the the nicer move is into this kind of 56 level here um And again guys this in here what we're looking at what we're covering in here You can zoom out you can look at candlestick chart on An hourly uh and uh and and do the same thing here Okay on the hourly looking for continuation to the downside There's some little green tiny green candles in here Uh, and this is just back and forth in the order flow But again the the concept here is to apply that to the higher time frame Uh what we saw in the smaller time frame In fact on a higher time frame we see this all the time It's kind of like a uh Look what happened to our triangle our descending wedge Uh, we broke down we broke down again and then finally it broke But we see this kind of like double top here Like leg one it did break the structure leg two could not break the structure All right, and then we look for that continuation to the downside All right, so this is uh, this is a good one We've seen this for years and crude oil is especially good at doing this So we'll jump over to crude oil and see if it did Um, but you you'll get this kind of uh potential reversal pattern Even a head and shoulders down here or something and then you get the the breakout Leg one pull back Then a move back up leg two and it can't it can't break the high And then you look for the uh, uh continuation back down into the previous area And then potentially lower lows Okay, so there's let's see it you should be able to hit it. There's our 55 level looking for 52 and 53 as well Okay, just looking for 52 and 53 Um, 50 would be the uh the target uh also 40. I mean these are the levels of liquidity now higher time frame That's what we're looking for Lower time frame in that one minute chart we can go through the same exercise again Did you guys find that helpful? uh looking at the You know, maybe what's within a one minute candle? Yeah, okay Yeah, guys, give me a thumbs up if you if you like that or if you want me to to do more of that That would uh, that would be helpful Thanks, Gus. Yeah, no hit hit the hit that I mean I boy it's soliciting likes Uh, but that will that will be easy to um, uh to read there Uh, if I see those like yeah, okay, there we go. There's some nice likes in there Okay, cool. Yeah, we'll we'll we'll continue to do it here Um, I did want to cover though this higher time frame because look at this. I mean just look at the um, uh Even the five minute here and that's pretty bearish All right, so we saw the uh the move back up into this wicks here and that was our first move 60 And then we're looking for I I really thought we'd hit 64 63 64 65 No Just it it kind of in the middle of nowhere just kind of turned around Uh, we saw them trying and trying and trying they couldn't now we're looking for the continuation to the downside And here's what it looks like In book map, right? So here's this kind of Move up and then the failure and then the move back down. Okay, so this is what it looks like in book map Okay, here's the move down Right, and we we were looking at these going through the different scenarios in here Uh the continuation. There was no reason Even even on here. I thought we'd have it in here as well. Nope couldn't do it looking for the continuation Uh, and then we started to note the um Or the buying coming back in now. This is this is really good There's our move guys and it's even a flip of the order book here A bit not a whole lot Look better a minute ago or a second ago It's still looking for 50 um, and uh Here, let me just cover this here. This is uh, really kind of important see the high volume node in here the buying above it And then that can give us some insight back up into this 60 level um And this is where I was talking about we had the stop run and and we had Well, we we drew it up Okay, the stop run this is on the flip or the you can see it Okay, so heavy selling stop run, uh, then the heavy buying here and then the move up Okay, here's our retest and again heavy buying heavy buying looking for the breakout All right, and then we we coupled that with our higher time frame I guess I should uh, I shouldn't have I spoke a little too soon if we look at book map in here This is not bad at all. Uh, in fact 63 would be better Uh, but 60 this swing here at 62. We didn't I didn't see it and also this little cluster in here Uh, just kind of touch Right to the top of it and then uh, uh, and then again here on our Kind of double top pattern And then the continuation Okay All right, so anyway The more objective we can look at the order flow and go through the scenarios and look for an outcome in that scenario Uh, the better or more likely that it will unfold Okay, it's really understanding the order flow It's all made up of orders guys all of these moves That's the beauty of it. So if your volume profile trade are great I mean, you know, that's one way of looking at your your profile or your your volume horizontally added up Uh, pattern trader, uh, doesn't it just doesn't matter. Um You're looking for the relationship of these structural areas in case of your high volume node and structure here Great looking for the buyers above it and the move up Okay, here's the move to it and then through it Okay, and and again like what we read in here and we were we're pulling for those buyers to do Just go a little bit higher in here and they just this is where we've seen it so many times. They just couldn't Buying Buying slightly higher high They you know buying and they can't make it Here now they're now they're really stuck Nice buying doesn't go anywhere Uh, it's it's not an iceberg either. It would be beautiful. That was an iceberg. Look at your profile too Right on this little area in here. There's your p-shaped Hey, well that that failed nicely Okay, so look for these even in your volume profile. Look for your your your pattern here to fail And why it might fail. You know all your higher time frame. You have a low volume node here Hey, um, and uh, yeah, and that uh Actually adds pretty nicely into uh, this area here, which is kind of what we're looking for on our candle candlestick uh 63 would have been better, but uh Uh, we got to about 62 and a half and then it really rejected Okay, so did we get to the fifth uh figure almost? Almost there now be careful down here. This is what we're talking about earlier We we see when we we approach the figure many times here uh that There's just not enough um uh sellers to hit it and uh There's people front running it here like up here You know, they're getting filled in here between the 53 and and 54 area All right, so we got to go higher before we can go lower type of thing Uh, and uh, so we we'll see like uh, here we go. Let's see if we get it now Look for a move back up into here 54. Looks pretty good. Look at the bid. Look at the buyers 54 maybe 55 Okay, and if they can do that and we see it even mount more Back up into here this where we just kind of we're looking at here Our 57 level Okay in that swing Okay, you want to look at the stops on the heat map sure Stops and icebergs I'll wait for the uh For it to load here. Okay beautiful And automatic I like using this very much uh the automatic uh individual threshold Based on standard deviations, okay, you have to kind of deselect and reselect for it to kind of load Guys, here's the squeeze. Here's the move. We're just talking about Okay, you know, we're not making this stuff up. Uh, we you see it enough times Uh, and you and what but let's say who cares about seeing enough times. Let's objectively go through it All right, so high liquidity that's in front of the figure Now what if it was high liquidity that was below the figure? Well, then likely the move would continue down to the figure and then maybe through it here But they're absorbing or getting filled in these areas in here Okay in here as well at 52 also down at 51 and they couldn't push through 51 Okay, and that's when you'll get these squeezes everyone thinks. Oh, it's going to the figure And then you you'll get these like short squeezes here And I don't even I I call it a short squeeze. I I think that's erroneous Uh to be honest, uh, in fact, it's a lot of iceberg buying on the bid And I think it's new buyers coming in if it was a short squeeze we'd see it in here And so let's not I won't call it a short squeeze It I I bet you anything it will be back up above 57 and a quarter though Okay, look for the squeeze look for the the shorts here now Unless you even 60 back up to our 60 Okay, so pretty pretty strong candle here on the five minute. Can we get back up into here? Okay, the remember these wicks again 60 Okay, and then here's that high from that that kind of 62 and a half here Okay, not just 50 just 57 57 and a half Okay, and still sellers are still in it They're still in it right Else we would have seen the stop run This is another way like just understanding Or gaining insight from some of these things in here Some of these indicators and these add-ons and book map Are really helpful. This this is a pretty incredible transparency here. No, they're icebergs quite a few Uh that 500 followed by um You know 260 and they're still in here Okay, there's icebergs on the other side too Not much I don't believe Right, so they're still here pushing it pressing it And let's let's see it back up into our Can we get up to 60? God, what a mess. All right. Let me let me clear some of this here Okay, but this is the structural area here There's also this here. That's kind of what it's testing now And this is where it really started to break in these little areas and that's what we want to look for retest back into those areas Okay, now um volume profile guys Okay, still mark up your verticals in here And match them with your profile Okay, so your your high low volume nodes, etc And what happened around those high and low volume nodes? That's really the key because this is not going to tell you It's just not it's it's just simply adding them up on the horizontal And then plotting it That's it. Okay, still waiting for that stop run here Yeah, yeah, look, um, oh boy. Yeah, absolutely. There's no question. This is a down trend We're just looking we're reading and we're getting into the minutiae in here in the order flow On on many small time frames Again to understand some of these things We started this webinar off talking about the much higher time frame what we saw in the order flow This same concept can be applied to what we're seeing here on the very small time frame Okay, instead of being filled on the offer. They're getting filled on the bid Okay So is it going to follow through or not? All right, so what in fact this one it You know it traded up here for the entire week basically except for friday then it broke below Okay, so now this one it is it's traded down here this entire time here Um since 10 25 When it broke You know 10 20 10 25 when it broke All right, so now is this different than this over here on the daily Compared to the five minute Uh likely this is going to be different. I'm I'm not looking for buyers to get back up above uh the 62 now All right, so I'm still looking for selling pressure to hit down lower I'm not looking for here. I was I was waiting and watching for the reversal and the move down below The the 42 50 here, uh, we're looking for the um Just these pullbacks and then continuation basically All right, does that make sense? Okay, you already want me to explain a little bit about the columns. Sure All right, so the columns, uh, there are many different columns in book map um, and um Uh, yeah, you It depends on really what you want to look at here Uh, the c o b column is the current order book or your your dome Uh guys, I had an event uh over the weekend with, uh, gary nordin Uh a book map partner Uh, he is a dome trader Uh, if you guys are interested in that we'll try to do an event with him and have him over here Uh, he is an expert at the dome Uh, and uh, uh, that's where this actually this dome, uh pro product They are very intrigued with And we can go over more of this in here as well Okay, I'll just add it here for now and just take a quick look at it Okay, it's the same. I mean you're just looking at liquidity in the dome This is you know got quite a bit more in it right now as you can see the liquidity in some of these areas here On the bid liquidity here on the offer and these little red areas are showing you basically the way that the FinTech visual guys, you know, they're trying to kind of match up the heat map and liquidity here With uh, yeah, so 5850 5850, you know, they they kind of mark them up here So you can kind of see the heat map reading in here as well And it's done by a percentage in the order book kind of thing Um, so you can kind of read the heat map in here a bit With that feature But anyway, yeah, they're looking for um, gary and in his group are are looking for some very specific Inbalances, I don't know what they are But uh, uh, he's very he's you know, those are his proprietary methods We'll try to uh, have him over and maybe he can he can discuss more about how he reads and uses the dome Okay Anyway, I just wanted to mention it Uh, and show that to you guys for you dome traders out there who are accustomed to it The cob column is basically the same thing. It's just showing you liquidity Okay on the offer on the bid and then it's showing here in the heat map as well All right, the cvp and svp columns are volume profile columns Chart range volume profiles what it stands for here and session range volume profile is svp What it is showing is from the entire session since when I opened up my book map Just add all the volume at these price levels, uh and a profile here Okay, and also in cvp, but it's for my viewable range So if I zoom in my viewable range is now smaller and so is my profile Okay, it reflects the viewable range. So therefore you can look at ranges And look at wow, okay So this one's actually uh, kind of skewed here to the downside So why wouldn't it trade back down into 54 and see if it rejects or accepts and if it accepts here Maybe you can go to 53 52 51 and finally 50 All right, so you'd be playing off of two different profiles in here Okay, and here here come the sellers Uh, and there's we never got the stop run to the upside. This is really funny In fact, it's a stop run to the downside Uh, Jeff, you will have to subscribe to book map global plus and then you'll have to download that dome pro I can show you that here if you go to help in book map Uh, and then we go to the user guide section here Okay, that'll bring up this page here, which is the book map user guide You're in that section right now go to the add-ons section here And then you see all the book map Add-ons here and the download links are within them. So you see the dome pro and execution pro here. Click on dome pro Goes through it. There's a video. We have a longer video that we did a few weeks ago Just on the on dome and execution pro it's about an hour hour long. It's pretty exhaustive Uh, anyway, you'll scroll down and you'll find the download links in here as well Um, right here how to install dome pro add-on Okay, so if you have the global plus then your license will allow it Okay execution pro same idea Click on that and then it's down at the bottom here how to install Uh, and you'll find the Here we can just look at it here How to install and then here's the download link here So if you want to try it then upgrade try upgrading just log into bookmap.com If you have global Or digital digital digital plus and then you'll you'll hit the add-ons or upgrade button and then You know that that'll allow you to Try out global plus for a month or whatever you want to do All right guys, this is really interesting stuff. So we know there's a little bit of a stop run to the downside We're looking for the upside here And we're just not seeing it yet. Um, even though we have all these icebergs in here So this is a kind of a funny context I'm looking for I thought we'd get the stop run up above 57. Nope Uh, it might be up here 63 So I like it. I like this scenario here that we can get this stop run before hitting the figure Uh looking for our buyers right now and then let's see if we get our stop run So we're looking for a quick move up into about here Or here 62 and a half or these little areas that we marked up previously All right, so I like 60. Um, even though I don't see much there. It's actually here at 59 I just think of all the sellers in here. They're shaking in their boots with this move higher All right, so we get that Watch watch the pop here and watch them exit very quickly Okay, so that's a likely scenario in here A little more buying up here Just eating away at it Let's watch this bid here They're still kind of eating away at it in here We can look for this. This is where you can also look for not only a move back up into these areas guys at this time of day You can look for your mean reversion trades in here as well It's it's going to be these cascading stops that are going to kick it off Okay, so let's look at it here Uh now I'm going to add in this column by right clicking in the svp column. I'm going to add the point of control Okay, and we're actually at it Or already through it here So that's not uh, that's not helping we can look for a previous point of control though Uh, and that would be up here Right. Well, you don't have to it's not rocket science. You just look right at it. You can see the uh a high volume profile up here Okay at 70 Yeah, they'll run for cover That's right I'm still not seeing it but watch it here. Here we go I love watching some of these squeezes and they just play out so nicely sometimes This one's I'm waiting for it to kind of kick off here Right and and then think about it in here I want to mention like yeah, think about the scenarios. This is where like You know, you've got to do the the run through the different scenarios understanding and it's understanding the The orders in here It's understanding the the um participants uh in in the uh in the order flow in here So the think about it part it's not so scientific right, but you're going through scenarios of what ifs Uh, and then you're looking for something in here to support the what if Uh, and then look for the higher probability outcome All right, so let's look at nasdaq as well nasdaq's up here. It's it's this is stronger to the upside It actually it looks even cleaner and clearer in the nasdaq here All right, so let's see the move back up here to 970 And then we'd be looking for the move up into 985 basically Okay, well, this isn't ready yet Okay, so I don't think that s and p is going to be ready yet either All right, that's another confluence again looking at the order flow and then looking at the confluence different markets And then looking for putting those pieces together Uh, do you need the mbo a bottle unbundled to see the s um stops in icebergs? Yes, you do uh johnny Yeah, uh here I can show you again go to help Uh go to book map marketplace or from our website. You can also just go there You will need rhythmic data and it's only for cme group futures will not work on stocks. Okay, so Uh, that's what you'll need then the mbo bundle is here Right, so it's 134 a month Uh And very specific it's that's why it's on the marketplace Because there's not you know, not everyone's a futures trader And if they are maybe not everyone's a cme group futures trader, maybe they're trading the urex ice Etc. It's not it's not going to work Okay, it has to be cme and it has to be rhythmic. Okay, maybe you don't like rhythmic. Maybe you like cqg data All right guys, this is looking better Uh, let's see if we can get our squeeze here Uh, and let's look also jump over nasdaq Hmm Nasdaq it it it broke out a bit, but it's back in here. So Here we go. Let's see if we get it here. All right, so looking pretty good on this nasdaq here. I think they got it Uh into 85 here. Maybe as far as 13,000 But uh, let's jump over to the end of the s and p And this is where I just don't really enjoy trading the s and p Um, yeah looking for it looking for it. It's just a little harder read here Uh 62 63 64 and 5 And and some back and forth and kind of game plan in here Um in the liquidity There we go that see see that right there helps and we also know the nasdaq is likely doing it And it is but it's not so strong here on the nasdaq either But 62 looking for a 62 Okay, we abandoned our candlesticks um and uh Understanding the structure within candles Uh, let's let's go back and take a look here Now we can just look at the bigger picture here first. Well, this would be just a retracement in the bigger picture right Pretty pretty big down days here or big down candles on the hourly You know back into 65 here. It looks pretty good That's where the the swing is down here And then the break of that swing here And then above this swing here at 62 so yeah 65 looks pretty good It's only four s and p points, but uh We're not we don't see a whole lot of point movements in here How's that nasdaq doing it's still still doing it The buying looks great. They're just not able to move it yet And we still don't see a stop run here Watch for it though It should be really nice This is that beautiful, uh, kind of double top after that move lower And you we look for that reversal pattern where you get leg one retest leg two And it fails Okay, so we saw that in the s and p and we're reading it in real time um, and uh now this one here You know The nasdaq should should be able to do it a lot easier In it's struggling Okay, so that s and p is going to be struggling too Guys, I'm going to I think I'm going to keep this same Title for tomorrow Understanding market structure in candlesticks and we'll go over maybe part two And we'll look at more details in here about like who's in control and that candle that is in control Uh, we can just maybe kind of briefly go over it here right now if we uh maybe Look at Maybe five minute candles. Let's see Yeah, let's try let's try our one minute. Let's go back to our one minute candles And again, it's just reading the the order flow within the candles buyers You know up above this structural area here all these candles here and then the buyers above it Looks pretty good Can they can they get up into here? Yep. Can they get higher? Took took some took a while here One more retest back down here back to where they broke out from the retest here So you guys looking for your retests? These are good Uh, and you could look for just to bounce back up in here to take some off Uh, and then maybe try to hold for continuation But then in here this looks really good Look at look at the buying in here and charging through that liquidity even charging through this liquidity here Okay, but is there still the the buying pressure up here is what we want to read Yeah, there's this nice cluster is a buying up here Sellers are starting to come in though yep, european, uh abdi, uh, european clothes coming Okay, see again. Look at the order flow structure in here and now the candle is not really helping us too much um This one minute candle at least We see the move up. Here's our pullback. Here's the move up. Here's our pullback And uh, but it's pretty clear in book map. I mean you see this move and and this cluster up here The um, we don't really see it in the candle the candles here We do so we are making higher highs and um a higher lows The sellers are just coming in and testing that now now they are breaking it All right, but let's see this if this is just a uh a false breakdown here Uh, and what we look for in a false breakdown is buyers back up above here above 59 Hey, can they do that? Let's see And then looking for a handover fist here another stop run here nice Okay, 83 here on the stop. There they go. Okay, so now Now we're looking for a move back up into 62 um, I think that they've got it here the um We had our stop run it and then we we see the the buying coming back in This player here at 59 and a half just spoiling that party right now And he's pulling Okay buyers They got it 61. Let's see it. Let's see if you should Looking for them to try to press it up into 61 and nope So bouncing off a point of control Do we see more sellers actually? Yeah, we are Okay, so our hopes for that move higher here. It's not looking good They had it in here Look like it European close in just a couple minutes Candles are kind of distracting Phil. I I know um, what's the advantage of having them on the chart is to go through That's kind of the title here of understanding what's happening within them. I I feel the same way I think they are distracting But uh, just to get the point across of of like, you know, how to start to understand the context here because we're also used to looking at candles Okay, and other others liked it. So we thought uh, we'd continue with it Okay, it's kind of like having your training wheels on almost They see how this opens the door right in here beautifully if we can get buyers back up above it here Right up here right right where we are here If we do Then our candles we'd be looking for the move update about here Okay, and then maybe back up to here or that low volume node and above all these wicks up here up into 62 and 63 Okay, so let's see here. We have a little bit on the bid Do we get them? No Okay, what about nasdaq? Let's jump over See nasdaq's not following suit Not yet at least Okay, there they go. See how the nasdaq now we see the buyers back up above it All right, so let's see if they can break that they should then they should be able to get up to 67 and 70 All right, so let's jump back to the s&p They were up here Not a whole lot of buying up here though at all Okay, so We're reading it. We're just not getting what we want and to look for that that move higher Um at the moment Okay, so nothing nothing to do Yeah, the nasdaq is able to to move the price very very easily Most of the time that's what we like though is like I love the demo in the in the nasdaq Wait nasdaq they let them out too like uh, we got at least back up here and this is looking really good for the squeeze It just can't can't seem to squeeze out the the sellers in here They just remain in in here here. They got squeezed out up here. It looks like on nasdaq All right guys, anyway, we'll we'll continue on tomorrow. Well, maybe I'll start off again Like looking at higher time frames and then who's in control If we look at our higher time frame here Um, yeah, you know, it's pretty clear that the buyers can't get back up here Uh, we were just looking for you know back up into some of these areas in here But the overall move here is still to the downside That that's been clear since since the start of the webinar Okay, we're just looking to see if we can get a squeeze back up into some of these areas Um now the sellers are coming back in Okay, so this is where we're looking for the sellers to take it into some of these wicks down here 54 Somewhere around here is a good area Even here 53 Now if they can really pick it up in here, not only that we're looking for not only 51 and lows of the day here We're looking for our potential gap fill 20 points away, but the figure here at 50 All right, so Bigger picture outlook is something like that Let's take our candles off here and Let's look at the bigger picture Hey Bruce And uh, yeah, I need to get going guys. Uh, it's 1130. So, uh, uh, just one note Tom be he will be Presenting right after this webinar But then he's going to be away for a few days. Uh, he will be back on august 30th All right, so I'll mention it tomorrow as well. There will be no tom be webinar, but he will be there today All right, so just stay tuned here. Uh, and uh, that will uh should do the trick you should be redirected right to it Okay, thanks for coming everybody and we'll catch up with you tomorrow Take care