 Good morning Let me see that it is all up and running testing the microphone that looks good Testing the streaming just waiting for the streaming to start in YouTube. Yep, that's started. So we will Just show The disclaimer and we will get underway Okay, all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations Trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results Let's go back to me again Quick bio, but we can move on from that Get the screens up and running I don't have any specific slides that I wish to present or talk to tonight But I do have a couple of topics that I've put in the in the discord room There are a couple of topics. I want to dwell on the first is something I mentioned when I was talking about the preparation of one self for Trading in an ETH session and the second one is Something that covers every single tool or platform that you use. So the first one really is all about this concept of Are you personally ready for trading? And I want to talk about it with respect to one particular focus, which is not dwelt on enough And the second topic is market generated information. So that topic we're going to talk about things that I believe are objective and do factor into your analysis and Eventually your setups and your edge E what is market generated information? Anyway, I'm just going to quickly stop and mention that I Will take questions. So if there are any questions That are either in the discord channel or in the YouTube Let me know. I'm looking at the YouTube now. So I can see there are no comments right this second Yeah, before I get into those topics, let's just have a look at the live action in ES I've got NQ above it. So I'm looking at both at the same time But I know that we are just showing you EES and we can see an iceberg here that they are pushing Towards the liquidity up above at 58 59 I'm just going to get my Little tool my drawing talk is not visible to me at the moment Where did you go? And yep, so they are pushing slowly up there Just drag it so we can all see it. Yep, there it is. Okay, so what am I talking about? So let's just So we've got the liquidity there and we've got this resting iceberg here, which has Quite a significant number that at this time of the day. We've talked about this before A smaller number than that would be considered significant but when you're talking about 487 sellers being absorbed with this by ice and you're looking across the line and seeing That we have a total of 186 actual sellers at that price, not just the iceberg and we have the liquidity above Please zoom in You've got this liquidity much higher up around 4 4 8 0 That could be the eventual liquidity push target, but at the moment they just try to push to this Liquidity band here and then maybe another one slightly higher But you've now got three ice this they are really really trying to advertise the fact that they want to push it into that liquidity Yeah For a for a future reference later in this talk that is market generated information But we will talk specifically about how the icebergs and the stops can be Used or when they can be used if at all in that market generate information Sometimes you have to ignore them. Sometimes you have to or you or or it is often wise to take in them into account Okay Right what I like to do is I say at the beginning of this I'm not going to the screenshot here. I'm just going to drag this across just want to I Was watching a video earlier today Of some meetings for analysis, and I just want to make sure that we're all aware of it. So this is the daily trend for ES I've previously spoken about a longer-term trend line and a steeper more aggressive trend line on the daily and you can see that we've broken the steeper once we're out of that steeper uptrend We're now right at support on the longer term trend lines And this one's been going on for a few months now So that is a pivotal a pivotal moment On NQ, you know, we are actually through it or I don't treat these lines as exact I'm just saying we're at the same kind of pivotal moment So we're at a line in the sand on that and again we can consider that to be one type of market generated information that we can talk about but It's just interesting to note on the daily that we are transitioning potentially from An uptrend to either chop or a downtrend Or we may just bounce here and continue the uptrend. So yeah, all three possibilities are in place Okay We can a little bit able to go through the action in the ETH Session as well, but you've got trading view over here on the on the right so we can talk about it And yeah, we can keep watching them absorb sellers and push it a bit higher Okay Let me see just double-check no questions. Oh No, what do you okay? No, what do you in? Sorry, no, what do you own discord? I apologize Tom. I apologize That was a discord issue not a YouTube issue. So my apologies. I had to create the event as well today not something I normally do So apologies. I was a little bit rushed Getting the streams up and running in discord and YouTube. Hopefully you can hear me now. I'm guessing that you can Okay checking no, okay, right one of the things that I mentioned on that presentation a week or so ago about about preparation was preparing oneself and I talked about either or Both of being calm in mind and calm in body There is an awful lot of stuff around on the internet in books etc about mindfulness and Meditation and the two obviously go hand in hand. There is a lot of that around I don't need to say any more than that It's certainly one method to quieten down the voices in your head when you're in a trade Which isn't necessarily going into your favor But has not yet broken the point at which you wish to reject it and exit. I you'll stop I want to talk about the other thing that That I think plays a part in in getting yourself physically ready for trading There was actually a very very good Netflix video, I don't know if anybody's been watching or done it if anybody here follows the Tour de France or Cycling in general, but there is a documentary on Netflix at the moment called Tour de France Unchained where they spent a lot of time with the teams during the 2021 sorry the 2022 Tour de France and There is this wonderful interview with a character called Vought Van Aertt Is one of the the best cyclists in the world still back then and back and right here and now and he's talking about What sets the very very very top riders apart and I think it applies equally to any sport and I do consider Day trading to be a sport. I know we also call it a casino, but it is also a sport and and and the thing that he stressed was that a Lot of the time there is a lot of pain So in cycling it's quite easy to visualize the pain that they're in their body is screaming out to stop as they as they're doing a time trial or climbing a mountain or whatever and In a similar way or in a corollary fashion Our Body is our minds Inner voices are screaming out at us Just as we've entered into a trade and they may be screaming things out to us such as Oh, God, I've got I've got one point. I've got half a point. Let me get out of this I don't want this to turn into a losing trade, etc. Etc. Etc. Or those voices may be Asking you to flatten too soon to doubt whether The setup that you took was valid. The voices can be a million and one things But one thing I'd like to I'm to stress which again is this parallel to that Tour de France video is that We will be in pain or we are very likely to be in pain and that the levels of pain will differ Widely or very very widely between individuals so, you know, you might be a swing trader and Are expecting it to go quite a long way against you and you have very little pain You might be a day trader where with a very very large position size and the pain begins Instantly from the moment that you place the position in the market One thing I mean I would like to point out or I'd like to say or own up to the fact that I am Not good at mindfulness or sorry. I'm not good at meditation. I've tried it. I've tried various courses I've got an app on my iPhone which has Multiple meditations, but I personally am not very good at it One of the things that goes through my mind is, you know, I've got five million things to do I want to go and do them and I don't want to sit here and just breathe for ten minutes That's just one of the issues that I personally have with meditation But one thing that I do find that helps me prepare for the trading session is the amount of pain that I experience When I'm doing my physical exercise I've mentioned previously I've done quite a few triathlons and I still do the individual Disciplines even though I don't compete or anything like that anymore because I'm simply too old But yeah, for example, I'm this year I'm now at my 20 year anniversary for long distance running and Anybody that's done long distance running knows that it is it often becomes all about pain Towards the end of a race or if you're just not in the right condition on that day You know, whether it be your stomach or your head or your legs or whatever it is But you need to finish there will be a lot of pain involved And I find That does help with your trading if you know what that pain is and you know what it's like to push through that pain That is enormously helpful in dealing with these crazy voices that go Into your head when you are day trading and you've entered into this crazy casino So it's just one thing that I'd like to point out. It doesn't have to be Something like running or cycling or whatever it could be anything that you push yourself to it could be any pursuit That you have and that you do I mean, I suppose that you do that in a mindful way Maybe I run in a mindful way. I'm not a hundred cent sure, but it's is the is the idea of Putting yourself out there accepting the pain and pushing through that pain I think sorry my microphone is too close. I think personally that is as good as mindfulness through meditation Just because you know what it's like and you know that There is a reason why you're doing this and why you'll push through it Okay, well enough about the semi-trading stuff and let's get back to your training. So we've held this We've held this Iceberg here. I'm just having a look. I'm just zooming back I think I mentioned in my in my discord channel that I'm always zooming in Horizontal and vertically and that I've got things like these time charts so that I don't need to worry about maintaining a view of of where Where we are in terms of time? I'm often I think Thomas often does as well He often zooms right into the the micro structure and I like to do that as well But I do also like to zoom out And see where some of these structures came into place, especially the resting liquidity Yes, as we Talk about I might have a sip of tea My voice may be a little bit horse today because we just had a an event in Australia I think the whole nation was screaming for the Matilda's. That's the women's World Cup soccer team and I Was actually screaming for the English team because that's where I grew up But the voice a little horse. Excuse me. I'll have a sip of tea right, okay, um Okay, so if we um, I Won't get a pen and paper out. I'm just gonna start talking about what I see as Market-generated information in ES and NQ during the ETH session and In bookmap terms the very first thing that I mentioned is the resting liquidity It is a clear advertisement For where the players would like to be And you can see even if we just zoom that out the whole picture from 1800 new york time through to now the resting liquidity once again Has acted as a bounds. So it's attracted price one two three times. You can see that that liquidity there that 4444 or 4443 has been there all day And that's acted as a boundary for price So it's one of the very first things that I'm going to mention is Um is something that's clearly objective Even though it's an advertisement Even though we take into account that it's only an advertisement It is information that I believe certainly in the eth session Is useful enough to be considered market-generated. There will be an obviously argument saying it's not market-generated because There was no transaction That was um conducted at that At that level and that that is that is true as well But um since this is a game of non predictions Something again, I say every single time we cannot predict the future. It is a large piece of evidence or a medium size or significant piece of evidence and the longer that that liquidity has been resting and the larger the size and The further away it is from a round number being the 50s and the hundreds that we've talked about The more evidence or the more evidential weight that I would place upon it. So Um, I would say in in book map terms That is one that I use an awful lot and you'll hear me describe that in every single one of these webinars Um, I'm just having a look at Okay the next um Okay, let me I need the crayon so I can talk to both book map and to um And to the time charts the three minute. Yes and three minute enqueue charts making sure I've got a crayon on this one all right the next thing that I um believe is market generated information is a swing point something as simple as that and that sets out to me where players Where stops out where the supply and demand came in and it relates specifically to A setup which consists of three separate individual setups that I've discussed previously, which is The test or retest of a supply and demand zone so wherever we get these and um, yeah, I was I'm slowing down there because I was actually looking at where that Where this little swing point was into in relation to the the web bands and we can talk about those I think there's a There's actually a couple of really good videos on developing vwep that are free out there on the youtube if people want me to Mention or recap what they kind of say let me know and I'll do that Um, I also give you my views on on this concept of developing value area and vwep and In the standard deviations and how you can use them in both eth and rth um So we have this swing point that we see in In the time charts, whether that's a three minute and we can zoom into the one minute as well um And what I I always do When i'm looking here is working out what was traded around there um If there is a large trade around about here Here or es or nq There is a and a there is a large probability that that will get retested So you've got two pieces what i'm trying to say is you've got two pieces of potential market generated information at every single one of these swing points And they're they're available to all of us, you know that it's available free of charge I mean for example in trading view or any other software that um I'm sorry. I will I will rephrase that it is available. Um free of charge in trading view I I personally pay about nine us dollars a month on a on a yearly basis. So Um, I am paying for it. Um, but i'm just saying it's freely accessible to all people uh, and that relates to or that can give you an edge which can Give you a multiple of the dollar risk that we put in place on each of these trades And what i'm trying to To help people with or trying to help maybe i'm trying to help myself as well with With these sessions is to get you focused on On the risk reward and trading at the the points where the clearest market generators information is available So that you have the best chance of maximizing the opportunity And not just walking away with point five of an hour or one hour, but getting more than that Um, I think one of my my best wyckoff teachers put it this way He said you always want the or sorry the most ideal point of entry is As close as you possibly can to to where you know you are wrong And I use the word no in inverted commas because obviously we don't know anything in this game We have suppositions. We have probability based analyses, but we don't know anything Um, in the sense that we do know anything. Yes, we know that that was a swing point That was a swing point on this one minute chart and this was a swing point and yeah, um Here the s is giving us a nice example Say you have this market generation information that was here at 544 545 and we can go and examine that in book map Now if we just go back that Um, that would have led you to potential two trades in that I'm not saying that they would have been valid setups But there were two potential setups in in in that zone and then once it was broken Um, yeah, uh, there was a potential for a trade. I don't discuss very often which is the breakout trade So let's go into this 545 Market generated information have a look at it So I was going the wrong way It's interesting when you are trading eth and you're doing it in a time zone other than the one that you live in um I've experimented with with them having charts in my time zone, which is western australian Standard time, which is also the same as singapore time or beijing time Um, but it just doesn't work for me uh The only thing I currently have On my own time frame on my computer screens Is the financial juice feed which I've gone back to my um my own time just because the browser does not work Well, if you adjust it To a fictitious time zone and and my journaling and that's something I will talk about Uh in another session when we talk about timestamp journaling what it is that you really want to start writing down Okay, here we go. I'm also looking across I've I've got a high level snapshot of of what was traded at these points So I know that coming into this 545 before I zoom in here and these are delta dots Uh, one of the reasons why I've got something else in Sierra is that I like to know the size of volume on those trades coming down into this 545 swing point and I can see um straight ahead straight away I mean, I could maybe I should turn these into Trade dots so we can have a look at them as well. Let's have a look total volume dots. Okay This is just so that we can see what was actually traded I I can see going into that um Into this swing point was 182 um cell Which is a breakthrough of this break down through this liquidity and then we had three individual cells of 60 74 and 74 and if we look in book map, we'll get the actual values So the ones I have in Sierra just approximate Reconstructed values, but here we can see for example That's actually much more accurate than the numbers that I had in Sierra So basically we had a trade of 214 At that swing point low at 545 um am eastern time And when we have that and we know that we've got some liquidity resistance potentially up there We we know that the probability is and again it it is up to you individually to determine The probability, you know or to to fact check anything that I I say as a supposition um The probability that I have determined from my own analysis and research is that when you have a very large trade It will more than likely be retested Even if we never get back on the other side of it It will often come back retest and then move away or break through That is a core of the concept of Supply and demand You know it goes hand in hand with me saying for example that there was a demand zone there That when they come back and test there, they clearly would want to go and buy it again But on this occasion, it did turn out to be a demand zone at least initially. So We draw a line across So you've got I haven't got my tablet up and running. So I'm just going to do this with a number there You've got 214 You're saying there's a probability that they're going to retest Okay, so that is It's my little thing This here I was pretty badly drawn again. Let me get rid of that one. Right Do it again That there is market generated information I think I've mentioned previously that I do swings I do smaller swings or micro swings and I do scalps And it will depend on the context and condition of the actual overnight session Which or all of which I'm willing to do Um So for example on on this session at that time of the day, we were between about 60 and 70 percent relative volume. So I was certainly happy enough because it's the european session not the asian session and um, again, I'll restate that the european session tends to be More active than the asian session and there are also more instruments that I can use for correlations and um You also have the pre-market opening of The large etfs and vicks which happen about an hour after the london open So that in other words, I'm more willing to take smaller trades in the session post london open I that session between 3 a.m. Eastern and 9 30 a.m. Eastern So, um, yeah the background for why I just said that is because with this market generates information And the and the likelihood that we're going to retest that zone here um In the in the pure scalping sense we have A high there And we have the reverse spring or up thrust here where it just takes it out and fails there So, um, I would be looking more in that zone there where the liquidity was but i'm just saying that There is a scalp or a micro swing back to the retest that that's one potential trade that you can look at again It's the it's the same kind of concept of the spring just in the other direction in wiker off terminology That's called an up thrust. It's a breakout failure So they they're pretending or faking going upwards and they trap the late buyers and they move them back down And the target there is the retest of this mgi or the 214 trade swing point Just going to stop Um, old gringo. Yeah, um, I I just put the one minute on for for a second Because I wanted to look at more of these micro swings Um, because we're looking at es Uh, if you've listened to this channel before you know that I trade more nq In the eth session than I do es but um Um for this purpose i'm looking at es so i'm looking at the one minute So I can have a better view of micro swings and look at more things to talk about Okay, let me just get rid of all of that. Okay draw that one across so The other trade there as I said previously It turned out to be a spring But it's it's a retest of that demand zone. So you've got trade Um, come on You've got trade one there and you've got trade two there. These are just potential trades Uh, and the trade to the target would have been up there. That would have been a That would have been a A better trade in hindsight, but everything is wonderful in hindsight and we are not hindsight traders um What we're aiming to do here is it is Have analysis that you can apply in real time every time and not just by looking back At the market a couple of hours after it occurred Okay What are we doing here? We are looking for some of these really large points I was hoping if we get a really large trade to look at just in this bit here before it broke down because When you get a really really large trade not just looking across its year on this one No, it wasn't very large. It was about 606 Yeah Again, I was trying to use another example of a very large trade as a an mgi and also as a line in the sand So, um, you know, for example, if you had a that's quite large there that's 352 Let me just draw over that one too I also want to have a quick look at what that looks like on the delta dots because if we're looking at these as delta dots Most of the time we're not going to see that What i'm saying is That there is market generated information of a breakdown point that creates a clear line in the sand In fact, you've got a whole bunch of trades here And you've got that The iceberg that I think we mentioned when we first started talking Yep, sorry, we did actually yeah when I first started talking at eight o'clock We were talking about this iceberg and then pushing it down towards the liquidity That then became a market generated information line in the sand once that was broken Any retest back to there was a potential trade because that is a clear line in the sand and there is no individual price That constitutes that line of sand. It's a zone. So every time it's a zone. So in this case, it's Come on crayon It's that zone there that whole zone and it comes back to retest there They add a massive amount of liquidity or massive at this stage of the day plus 255 And then they they take it down Okay I have another sip of tea and happy to answer any questions as well Excuse me. That was my teacup grinding against the microphone. Okay. Let me just pull down Let me pull down enqueue and show you a really really good example of why you might want to trade enqueue for clearer signals and I suppose the word is faster A faster determination of whether you're right or wrong in eth Okay, so we're talking about the same kind of timeframe. We're talking about just now 838 31 You've got the same concept of the spring. You've got a swing point low here We draw again We have another different type of market generated information You've got both a large trade And we have to ignore when it says volume because these are delta dots And you've got a big stop run and what I really like on That is moving so you have to get rid of that what I really like and that fees zoom out zoom in vertically is this little line on the The book map stop ice the stop iceberg indicator that little line shows that price went straight from there all the way down to there In a heartbeat, you know, if we zoomed right right in to the microseconds You can see that the price didn't trade until it went down to there. So it skipped a couple of price levels Um, if you go back to some webinars where I was speaking about last year, I think it was Yeah, at least it would have been last year I often had sweeps around here. I find that I can see those sweeps Um, I kind of want to see the stop iceberg information At the same time and since I can already see them in my own head Sometimes you get they added visual information of this vertical line That's a that's what I'd call a sweep stop run. I don't need Extra information to tell me that that's a sweep. I can see clearly by the vertical line. They're swept down we've taken out The the previous swing point low That is market generated information, which is both a large trade and a stop run It's at a swing point low It's a previous bit of market generated information And you've got this resting liquidity above even though it hasn't been resting that long But you've got clear liquidity above which becomes a target Okay, so, you know, we've covered two different ways of of looking at that Or that resting liquidity and how it can be used as market generated information into completely different sensors So you have situations like this where it becomes a target for one of your valid setups if you're into this supply and demand type trading and You know provided this is in a set of location for you that you're willing to take Regardless of whether it is on the on the larger term profile a good area or not That that's a clear spring in in Wyckoff terms and you do have a clear target. So you've got the target from the Liquidity and you've also got You've also got this banding below in ES. I think I'm gonna have to move this one away You've also got I think that you've got this here where you've got Really really thick bands of liquidity and I think I was watching another video from one of my colleagues Charles aka pirate traders Two days ago, I think When the market was very very low going into the rth open, but they had a massive band of liquidity there And and as you as you rightly surmised and as it turned out Um that the the information or the market generated Generated information that he received in his head was that that was more likely A point which they would not be able to go through and would more than likely to reverse in other words The liquidity is too thick and what they're trying to do is accept anybody willing to sell down to them there Before they trap them and take them higher so So there are two types of information you can get from this resting liquidity and again It is useful. It is more useful depending on the size of the liquidity and how long it's been It stayed there and And whether we are talking about liquidity at round numbers or not Okay I'm going to get into the profile as well because we always talk about the profile here Uh, I just want to clarify um A couple of things as to why my profile charts okay This is an nes profile and again, we're talking market generated information here Um You could say we've got a lot of liquidity Or sorry, not a lot of liquidity a lot of volume Um between here and here. So why have I not? I'm chosen to draw a composite value over here Encompassing the last x days, you know, whether it's 10 days 15 days 90 days, whatever or why haven't I started? You know merging a profile Um Merge with next profile In that sense. Why haven't I started doing that? Why? Let me just reset that again. Why am I not taking each of these little bits as potential market generated information? Okay That is not how I look at profile. Um, I'm very much a high level Participant when it comes to looking at profile I'm in fact, let me clarify that a little bit more I'm I look at profile from a very very high level and a very very micro Perspective and relatively little in between. Let's pray that the better way I say it. So, um, for example, if we look at these dailies Uh, you've got the the volume area high and the volume area low that just marked out there with lines I've got no idea about that. I never use it. It's just there for coloration to show me roughly where value was on that day So I can see at a glance that we had three days with value around about the same area That is about it for me as regards Uh, um, my high level Um profile analysis to me that that is not really market generated information In the sense that I I do not get any additional information that I get from my time charts on those Where I Have a look as if I can get this to be relative volume Yeah, okay Where I am Okay, I'll just ignore the m shaded last one because that is a bit out of proportion with the rest of them. Um, where I where I do, um Where I do get a lot of value from is Here you have all profile relative to each other. So the actual shape is is truly indicative of the amount of volume with respect to every single day. So Um, if I see something like this where there is a massive amount of volume At a certain point, which is likely to be tagged the next day that to me is market generated information Simply because it fulfills two factors. It's objective And it clearly stands out and in the same way if we had Yeah, it's yeah, I mean I think we had some good examples last week if you had a really really, um Fat or poor high or low. I count that as market generated information. None of these really do um I don't even really constitute a gap between that and that as market generated information But a lot of profile traders do a gap fill again I've got I've got other ways and means of trading into that gap or going for a retest of that gap So that is not directionally actionable by how I trade in eth It's a nice to know But it's not something that I can use time and again and again and again during the eth session To get trades that have edge So I just wanted to point that out that you know that there is some really really great profile trades and tom is a great one Um, and they look at these profiles in a lot more depth and detail than I will But I am looking at it from two perspectives one a high level perspective and to an absolute micro perspective And in my yeah, Sierra charts. I've got Um, some very clear visibility of the profile that's forming in each session Um, I don't really need to show it because we we've got people that that do more of that than I do um Okay Right 841 let us go back to some analysis Okay, let's see what is coming up trying to get my enqueue to go to the end, but it's not behaving Okay, if we have a quick look at the enqueue here and we look at a direct comparison of two um liquidities Okay, you've got this one here which which does get a garner my attention It's at the it's 15075 and you've got here one at 15 100 Just want to point this out because this is a clear example of where I pay attention and where I don't pay attention Maybe something you you want to do as well this one at 15075. It's not a round number and it's been around Um for a very very long time in the sense that it's been here since relatively early in the london session um And the actual value involved or the the value of orders involved is 82 Anything above 30 in enqueue eth is significant in my eyes and with regards to Resting liquidity anything as high as 82 becomes very interesting to me So again, it's something that I mentioned last time. I'm not expecting that to get tagged straight away You know if it goes straight down, you know, wow, but uh, that's not a um a setup that I am in at the moment Or that I am going to jump on board and follow the momentum down But what I want to do is contrast it with this at the round number of 15 100 It's a round number. So my first instinct is to ignore it It looks like just liquidity at a swing highs there's trying to say oh if you get back up there We may we may um, we may provide volume Or transactions, but it's and it's not been there for a very long time So I just want to contrast the two This one maybe if it had been around a little bit longer than 5 a.m Maybe if it had been around since 12 a.m. You know, so eight hours I would place quite a bit more weight on it Uh, and I already do place more weight on it than this But I would just saying that if it had been around for about 10 12 hours that would constitute clear Market generator information to me from the book map heat map in a th Let me just see no no questions today. That's fair enough Right, let's have a look at what is going on Okay So we've got industrial production coming up At 915 We've got relative volume at 69 percent Basically not got that exciting a market So in terms of this market here I'd be looking at more NQ than ES and I'd be looking at scalping shorts to get down towards that liquidity Where they've just added some more liquidity there. So again, we never chase We never predict that it's going to go down and tag those But we do look for setups that will give us an edge With a target being there or and scale further of there. So that's that's what we're looking at Then we go across it ES and C Does that line up with what ES is doing? Then we have a look at the DXY or the US dollars does that line up with that at the moment If we look at ES Yes, there's lots of liquidity there. We know there is some liquidity up above As well, but the closest liquidity is below and there's a significant amount of it It may just be that it wants to fill this and shoot up higher to the other liquidities, but It is showing interest in those for the time being the US dollar has been On a significant uptrend all day. In fact for the last few days Uh, it's above 103 at the moment on the DXY and DXY is just The easiest way I have of tracking it during the 24 hours. I do also look at the um, the futures products 6b and 6e during this session and 6j during the asian session And I also look at gold as I've mentioned previously gold been going down today The US dollar has been going up the US dollar has been inversely correlated with the ES and the nq in eth so Both of those are correlated factors that help with the nq proposition or supposition that we will go and tag The 15075 there eventually Um, I'm also looking at book pressure. Somebody wanted to mention Somebody was asking in the room the discord room about the Market pulse. So maybe we should get that on the on the nasdaq one And have a look at how useful that's that that would have been It's going to populate slowly now Yep, there we go Okay I brought the market pulse on and i'm just going to drag it back onto the screen here So you can see what I just did. I have placed the market pulse for nasdaq In the sub chart just here um Because I want to talk about Indicators generally and whether they are or they are not Market generated information All right, um Indicators, I mean the market pulse is Objective in the sense that it has a level which goes from 100 to minus 100 or 100 to minus 100 and it is showing you the price change In in the last short period of time Again, you know, it's an indicator Just like any other indicators that are out there, you know In the same sense It's looking at an average of price over the last x minutes or x seconds In the same sense that falls into the same kind of category as any other oscillator be an rsi And it's again not far removed from things like a moving average I don't count those as market generated information. I count those as a derivative. Are you a mathematical derivative of price The v-waps over here They they're basically the same category. The only improvement they have Over whether they are a mathematical derivative or price or not is that they are directly related to the amount of volume That has been traded I uh I trade volume and liquidity. We are slowly getting down to that 75 level that we're talking about And if you were looking for a setup You were Looking at this zone here as the reverse spring are up for us and you got a couple of successive ones So if we go back to the one minute and look at the Nq on that and see what you might have been able to get in No, it's really quite micro. So You know, you can't really see the swing points as clearly as you can in book that that's an advantage Of of why I zoom in and out Um, where where I have a supposition. I mean say I Got in there or I got in there somewhere around there and I was targeting down there And I've mentioned to you previously Let me get the crayon app. So we're saying that we get in a roundabout here Or we get in a roundabout here. You're never going to get the high And with with nasdaq More often than not you're going to enter by market It's just it's or sometimes you might even enter by stop buy or stop sell entry orders um It's one of those beasts where I don't feel entirely comfortable leaving limit orders for entry I know you're going to get a better price But nasdaq is a fast mover and it's not going to punish you too much Um for having a spread entry, you know with market, you know, you could be minus three ticks minus even minus four ticks Straight off the bat, but because it is such a fast moving market I have to get rid of those things. They're out of position already. Um draw another one Um That's why I'm saying that your entry is more likely to be around about This sort of zone here or this zone here But you you've got a clear Um, you've got two potentials there for your stop there. You've got a stop About this zone here or a stop behind the liquidity up here I think I mentioned that I'm not a great fan of this liquidity because it's at 15 100 And I also prefer tight stops whenever I'm trading nq in eth I'd rather be wrong straight away And accept that that means it's going to reduce your win rate But if you took a stop say you got in at about the 93 93 and a half mark if you took a four point stop or a five point stop So even a five point stop to the 90 the 98 um And then you traded that down there That one in so about 93 and a half 10 points for a five point stop to 10 points or close there in You know if you get close to that 2r on any individual trade in eth other than Other than the ones that just go and go and go for you getting a 2r is a good result And it's worth doing in my personal opinion in nasdaq in eth It works in the sense that you are taking You're taking a fair number of trades So you're giving your edge a chance to play out and you are not getting fixated on the home run type of opportunity Um, and I think you know if you were to get into trading eth It's one of those things that you don't want to spend your whole day waiting for that home run type of opportunity because You're just going to end up getting frustrated and then you're not going to accept or respect or honor the stops that you put in place um, you know if we Just zoom out vertically Um, I have to remove that there and destroy it again So so you're in about the 93 mark there, right? This is a product, you know if you want to trade it This is a product that can go 20 points against you in an absolute heartbeat Right, so if you were playing for A 2r of 10 points Um You can do the math and we can do we can both do the maths here. You do not respect your stop So for whatever reason you pull your stop you move your stop whatever And at 20 points, um If you are Say you're always 200 dollars based on five points Whatever that is, um That 20 points Is 800 dollars. So you've effectively, you know, if your r is 200 So I should have got my tablet ready, but you have effectively lost 800 if you accept your stop there And you could have made 400 which was 2r And instead you've made minus 4r if you are wise enough to at least accept your stop at that point So what i'm saying is that by not accepting your stop um You have destroyed your trading system And you have not respected the edge that you could be executing. So it is one of those things that I personally believe if you're going to trade nq and eth you take smaller stops and you take a lower win rate Um, the other the other type of thing that you often hear about and it was mentioned in tom's room the other day was people doubling down So for example, if that 20 points became 30 points and you had entered in at minus 10 points And then you it went to 30 points, which nasdaq can do in a heartbeat Now it's going to hit the 75 that we're talking about. Um That is a complete destruction of your account. That's just my personal opinion But I just wanted to have a very quick look at the maths behind Not respecting your stops and what that does to To um, let me just nq cell 89 stop Let me just type this in so what? I believe Might be you know your results During an eth session or during your week session All of that that line there are are 2r minus r minus r minus r 3r r 2.5 That's all fine as part of your system because the loss that you're taking on every occasion unless you're managing to to break even on the trade Is exactly the same. It's that minus 1r and that overall will give you an edge And if you're if you're taking these trades, which are clear setups and that occur again again again eth It's it's removing your frustration It's giving you a participation in probably the cleanest price action during the course of the 24 hours, but um Again, it's it's something that you have to figure out whether it's something it's something that you want to do or not That was just a thought I will move on Okay, let me get my arrow back so we can get back on es so So what did we so we were looking We were ignoring that liquidity to start with and we were looking for reverse springs or up thrusts or tests of the supply zone to get us down to that 75 and I have the market pulse here as An indicator because somebody asked about it in discord today. So let's just have a look on nasdaq I think market pulse is better on es because of the thickness of the instrument But you know if you said I am just looking for a short Right, you know as soon as we'd got down to say this point We'd had a breakdown I will not take a short unless market pulse gives me a nice green signal i.e. It's above 70 on the minus 100 to 100 scale i The green shows that it's above 70. So you would have got in Where's our crayon gone? Daisy you would have got in Come on Not going for me try again Uh You would have got in there Right, so Does it have its purposes or does it have its uses? Yes, it does provided you have clear seps in your mind And you know what you want to do it is one mechanism of getting in is it market generated information? Not in my definition of the term. Can it be useful to you in executing your edge? Yes Um, and I have it displayed more on my es than I do on my enqueue But again, that's partly because the enqueue is a thin beast And I I do like looking at the liquidity a lot more in enqueue Okay, let me get rid of all that Back to the arrow, let's have a look at es again Okay, so es is now Grinding its way and it does grind doesn't it it's got a nice little Resting iceberg there as a target. It's broken through the sell iceberg And it has taken out and actually interacted with Some resting liquidity there so you can see a volume of 328 which suggests. Yeah, that's just because that is touching Um 209 followed by the um the second one that that did interact with the liquidity So, you know one supposition could be if you were bullish that they are into demand zone And they have been partially filled for before the rth session that they're getting filled so that they can go long And squeeze out some shorts during the early stages of rth like they did two days ago It's one supposition. I don't make any suppositions and I do not predict what will happen at rth Um, it's also very different from the very very very thick liquidity ban that was in play two days ago I mean if we look here you've That's nowhere near as thick So I don't think quite the same game is in play. We might have a nice little bounce and tag that resting iceberg above But it um, yeah, it's just one of those things. Anyway, I hope the session was useful to some people and Yeah, it's coming up to nine o'clock. What time is it exactly? We know we've got another 50 seconds. So We can watch a s and yeah, we can contrast the volume dots with the delta dots if we put those back as delta dots Do that out the way? Yeah, I put in the suggestion this week in the suggestions channel that there be a hotkey or a button on the toolbar somewhere around there to quickly toggle between between volume dots and delta dots And um, you know, feel free to upvote that suggestion if you like it The reason why uh, it goes hand in hand with what I said earlier that they do love to retest Large transactions in eth Quite often in rth as well. So to be able to quickly See the exact number of uh, of trades in the transaction and flip back to delta. I think could be quite useful Um, anyway, thank you very much for attending. I will um Stop the webinar there