 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map and I'll go through some live analysis here that we do this every Monday, Tuesday and Friday at 10 a.m. live trading with stocks with J trader on Wednesday at 10 and then Scott Pulsini a futures trader live trading at 10 a.m. on Thursday J trader on go through the risk disclosure 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 substantial risk of loss and it's not suitable for all investors past performance is not necessarily indicative of future results alright can everyone hear me and see my screen we're gonna jump right into this SNPE mini and see what's going on in here in the order flow you can just give me a heads up there in soundcheck audio check in all good okay thank you I'm so bad alright we're ready to go alright so interesting stuff right off the bat you know we have interest rates hawkish outlooks here from the Fed obviously this is having an impact on stocks that's just how it works and you can see this move into the figure down here 4350 okay right into high liquidity had been in the book here for quite a while and it transacted okay so buyers down here we already have kind of double distribution day here as you can see and we'll cover that with market structure in just a minute I want to take a step back though well read the order flow I guess quickly in here obviously we're bearish here strong move to the downside a pullback beautiful pullback also beautiful pullback to VWAP but it's the market structure in the order flow here it's aligned with the VWAP great now you have a higher probability chance for this continuation to to work out nice little buying here it did make a higher low here but look at the selling coming right back in right so we need to see if sellers can overpower these buyers here and that's what we're looking for right here just above the figure alright so you can see a little bit of buying coming in already but there's some strong selling here so I'm looking for continuation let's see if we get some more sellers here and we should get a quick move down to this kind of 48 level and then 45 and high liquidity you know much further down here around 32 or so is what it looks like now this isn't gonna be such an easy move here however this is why I'm gonna take a step back and look at the bigger picture alright here we go this is the daily chart over here on the left hand side the hourly in the middle in the 15 minute here on the right so here's been beautiful beautiful trending day yesterday my god my lord look at look at that move yesterday it makes me kind of sick I was quite quite busy here at bookmap yesterday but I mean this is just to die for anyway let's go over it here you know this was on the daily chart higher time frame and market structure and what we're looking for in here I haven't played around with these lines in quite a while I've left them and you can see you know some of these areas here where we retest back up into and we were looking for rejection however it was right around in this area here we're looking for rejection and then a move back down market came back up pretty strong move all the way back up into this area here knock some stock stops out above here and and then rejection came in yesterday hard okay so and and now we're seeing continuation today now this is where it's interesting is some of these swings or yesterday the swing from a few days ago that's where we're testing right now okay so we're gonna have to see if we can on the hourly chart here strong move strong momentum here looking for continuation until we see something different we're gonna find some profit taking down here we're gonna find some buyers here we're gonna kind of bounce around a little bit because this is where we found buyers before look at the Wix okay rejection and rejection so but we're back down here we're gonna look for more selling power to try to drop this and you know next area is likely let's move this line down to here you know something like this we're looking at a swing here on the daily as well as a swing high here and so that's around forty three twenty three okay somewhere around there and yeah that would be the primary scenario here looking for this continuation strong selling we're bearish with the with the fundamentals we're looking for the order flow to align with some of the concepts here all right so and yeah we're gonna get some back and forth in here and here we go okay so that here was that strong selling we just left off on and then look at the buying coming back in again all right so it's gonna be back and forth in here for a bit and but yeah I'm still looking for the bigger picture and the momentum here and the move lower okay so now we want to look at the market structure in here and we want to kind of understand you know the order flow within the structure and and and put some pieces together this is like part two of our educational course part one talks about basic market mechanics part two it builds on that foundation and then moves into market market structure using market mechanics and we can look at this on a on a very very small level and then on a on a higher time frame level right now we're gonna be looking on a higher time frame level okay so back up into this kind of swing here and there's high liquidity up here at forty three seventy and that's kind of where we drop from here now we're gonna see a lot of stops triggered above this area here I imagine there's a lot of people are looking for continuation here so it's going to be some back and forth in here and then we'll see in the order flow we're gonna match the order flow to align with these different scenarios and so here's some rejection already looking for a bounce back into VWAP here it's only four points away but I'd be looking for it so here's our sellers let's see let's see if the sellers can even maybe bring it back down to here 55 where they broke out from no not yet no selling down here okay let's see if we get our selling down here no not yet all right so they're gonna looking for 70 then okay we're not getting sellers down here that was what we're looking for note how we're not getting it all right so buyers are coming in where they want to go look for liquidity here at 4370 okay buying pressure coming back in all right so let's say let's suppose we get up to this 4370 yeah there's we got a high volume node up here we have other and I'm gonna talk about high volume nodes here in terms of structure again okay so we're gonna look at this sideways consolidation that makes up that volume profile okay and then where it broke from and then now this one down here okay and we're kind of in the middle of it right now all right we've got to move back to VWAP we didn't get up to the 70 still looking for it though there's some buying up here okay here they come again and we're buying at the top edge here let's see if we get a skew in that order book in here they're pulling up here at 65 a bit that's good okay let's see if they show more demand here here they come oh sellers come and slam on it so that's a change in the order flow that kind of disrupts our what we were just looking at okay and you can see now we got some selling pressure in here yeah that kind of changed the game right there okay now we're down below VWAP all right we're gonna go through a couple different scenarios again here where this player came in and disrupted that at 63 okay the scenario is this and this is all within the order flow what if we get buyers back up above 63 okay that means that this is all on the hook okay and then that would lead nicely into a measured move basically up into 4370 and that's where the liquidity is now that's the scenario though we have to get buyers up here to upend these sellers where the sellers are taking control right here all right let's take a look here more selling still making slightly lower low lower lows in your some lower lows on this move back down okay but what we're looking at is the buying from here onwards okay and it did make a higher high and a higher low in here so we're watching this okay all the way back down to where these buyers initiated okay be on the lookout for this is a secondary scenario here is if we just see sellers come in like this bigger player here that kind of disrupted that whole whole game here and let's see if they can do that down here this it's there's a trend line here and there's point of control here but look again let's put this in order flow perspective here we'd be looking to see for the secondary scenario here would be sellers moving it away quickly from this whole value area here that it's you can see the huge profile and the high volume node here all right so and you know we're talking about this kind of sideways consolidation in here and what we know is it takes tremendous selling to move it away from previous areas of volume a lot of stops will be triggered that will help cascade the move as well but it is new selling coming in so we're looking for that scenario as well here and I don't see it yet okay there's we don't we're not engaging the sellers down here quite yet okay so if that's the case let's see if buyers try to trade it back up into into VWAP and again back up into the 70 level here okay so we're looking for sellers or if we break our this little kind of structure here basically we need to see buyers back up above 55 here and then that then that looks pretty good for a move back to 60 and then maybe to 70 here okay so two different scenarios and we're outlining what the order flow is going to look like and that'll give us a clues in here significant clues okay selling starting to come in and then we're right back to this 54 area here I see nothing yet all right so sellers are sellers are dropping it now it's still not significant selling here so it's still still being very careful with this one here if this can be a false breakdown of this little area now more sellers come pounding in here all right looks like sellers gonna try to take it 45 and they're on the offer here at 50 it's not out of the woods yet got an iceberg 138 there careful here do you think market is just playing games since it's Friday no I mean like we're I mean you know we have a lot of players in the market still Europe is still open for another hour in you know 10 minutes or so so I mean there's still a lot going on in here we're just looking for you know a good read in here and you know this this was the this kind of player changing and really shifting the whole kind of dynamic up here and usually to be honest like you know we see this happen like two or three times for that single player to kind of change change the sentiment however the sentiments is is bearish in general so it didn't take much for this player to kind of you know have an impact on the market okay I mean like watch with buyer should should I be looking for them to trade trade right back up to this liquidity here at 51 because that we got a lot of a lot of sellers on the hook down here and let's see if we can get them upended by buying up here and then moving this higher back up and to maybe even point of control but I mean you know that's it though I mean we're not looking for much right now we're just reading the order flow in here and and trying not to have a bias the order flow would tell us what's the reaction to this liquidity that just came in here okay they moved it up okay sellers just took them on okay well do we get more buyers back up here not yet let's see if we do then looking for 51 okay let's see if they move up a little bit more it's kind of dark in here right so we're still we're looking for maybe a skew in the order book and the reaction beat to beat buyers here okay and we're not trying to be no sir Dom is here we're just trying to read the order flow in the sentiment here so yeah we found a few more buyers here now let's see a little more demand here and let's see the reaction to it other players are testing it as well I mean they're they're kind of flashing in here in the order book and see what is the kind of sentiment of traders and what better way to do that than to show your order sizes in here and see how the market reacts to it okay and what better way to also false advertise okay so no we didn't get our buyers up here sellers are now coming back in but let's keep an eye on this here okay more sellers down here again all right looking for them to follow through down to 4340 okay and maybe we get down to 37 here or 32 okay so we're not seeing those buyers come in yet in fact our pullback was very shallow here we were looking for a full pullback all the way back up to here and that liquidity just just to test it so we're getting kind of insight from the market structure in here and let's see 4340 liquidity is right here there they go okay so buyers are stepping aside sellers have control here let's see them move it back down to 37 and 32 let's take a step back to then and look at our bigger picture here okay so here's our drop below the swing on the daily chart and our next level was down here at 23 right okay and pretty strong momentum here on all charts basically so yeah let's see we're then just go with the continuation here basically where's that 23 level to see if there's high liquidity down there there's some at 25 here not a whole lot most uh most of the liquidies up here around 32 okay five almost 600 icebergs will 595 I've already transacted is still active here there's probably quite a bit more behind it there it goes 6665 and we got a buyer down here at 70 63 is already transacted and let's just read the order flow here where they don't want it they're not interested in this 40 level right now buyers are not interested not yet alright let's see if we get some more sellers bottom edge and then continuation into our 37 level and we got our 35 down here okay watching this little value area here and let's see okay see I was building this edge down here or you can see it in the profile the amount of trading here in a sideways consolidation okay and this is what's gonna move the market here is someone's gonna get off balance here one way or the other and we're gonna just read it and look for it okay here come our buyers here they're they're they go into 40 and not out of the woods yet let's see if they we just get a lot more demand in here and then stream up I really like to move back to we zoom out here I like to move back to 45 and then also maybe here at 50 okay so buying pressure now we got to see continuation this is that last gasp in here a lot of times you'll see this this bind and then sellers below here at 38 and then look out below okay but if we get more buying back up here again I'm looking for the move 45 okay that's what we're reading in this small time frame in here and let's see if we get follow through not yet and in fact we're showing more here on the offer not more on the bid okay this is the critical moment right here and let's see it sellers 37 on through into heck maybe 32 here 35 and is liquidity as well and there's 37 okay being very careful here yeah like false false breakout here a breakdown very very possible and if we get our buyers back up here again all right so now these guys are on the hook let's see these buyers squeeze them let's see this move up into so we're looking for this move down below we we we got it initiated okay so now they could be on the hook though now why this cluster here we covered this many times what do you what do you guys feel about this cluster down here of selling okay and and and why they are on the hook here okay and why now I'm looking for buyers in here and the move to 45 okay so they're already showing up okay and we're looking for a continuation here and in a squeeze okay 45 is a good level here where it dropped from up here but the liquidity is more up here at 50 so we're reading the current order flow in here and yeah we've got we've gone back and forth on it but the reason the reason being is like when we look for a move away from a value area or a consolidation area where there's a lot of volume okay we look to see like in here okay buying is not bad did they continue no selling down here not bad did they continue no okay we got more buyers back up here now okay so this was disposed well for that that move in that continuation up into 45 okay and even that one's not unfolding at the moment okay so yeah let's see if we can get back up here again and then stream to 45 and then 50 okay starting to unfold careful this is tricky careful looking for the buyers here looking for our order book to help us out too and nothing here is dark so not not much insight there this is just a beautiful bottom edge here someone's gonna get hurt one way or another here okay alright alright so sellers sellers driving it now looks like sellers got control here and and that's is that strong enough here it's it's still only a few points so still being careful here you know another potential false break down here it's it's just not enough we really need the volume is not bad but we've covered this many times where's the volume taking place it's here hey what about all in here well you know we don't really see a lot of selling in there we're looking for strong continuation of selling okay moving price we're not getting we're just getting at the ends here now there's our bigger player again he just moved the market here just hit 400 stops basically and now look at look at the move higher here now okay let's let now we're on the squeeze is on here looking for these guys back up here around 41 and let's see if they can move it now that's a wicked wicked trap there let's see if we can get a squeeze going up in two yeah still still like it our 45 and then our 50 and then maybe we have a VWAP endpoint and control back up here 52 50 57 or 56 this is a wicked move here this is what we're just talking about see how it's trapped and then this this larger player came in here and really dumped and triggered a lot of stops okay so what we're looking for is now we have something to kind of chew on here love to see more buyers up here at 40 love to see this order book light up underneath here and this guy here at 40 and a quarter pull there he's pulling all right do we get do we get someone underneath here more more demand there's a little bit okay do we get our buyers up here not yet okay more demand here let's see the reaction to this demand okay sellers take them on so there's some selling still in here all right so we got a little bit of insight from that you get our buyers here starting to looking good all right a little bit more here the squeeze squeeze looks good here okay i'm looking for them to squeeze higher up to 44 and and maybe higher here i'd love to see this order book light up underneath we're getting a little bit underneath here not a whole lot though and squeeze it buyers you got it you've got it here still order book is really dark in here it's not going to take much they they can you know i think some larger players can flash in here a little bit you'll you'll see more buyers in here and triggers start to trigger some stops here and get this nice move here okay looking for that that adds a lot of value in here is doing it without much demand in here okay so let's see 44 that's where the liquidity is starting to show up okay backups into this swing high here all right and still looking for you know backup into where it dropped from here and higher liquidity is still basically up here at 50 the figure okay volume looks good here i like it and let's see if we can get our continuation here high volume node for the day is here up around this kind of 53 54 area look at these guys defending the low volume node in here okay so we've got to get a lot of buyers to show up here so you know this is where uh you know there was a lot of trading went through it quickly and then that building out that bottom edge down here all that volume down here we're looking to see if if the buyers can get back up through this area back up into that previous structural area here okay volume profile or also just volume or you know can be smaller structures in here yeah see how they're defending it here we also have a combo level here from bret or brent uh kachuba spot gamma so it might be asking a lot here if they're going to defend it up here and we're not getting we're not finding the buyers move higher here i do like the buying in here it looks pretty good so i'm still still looking for them to try to attack this area here at 44 yeah yeah i like you're being kind of cautious in here not not a whole lot of bigger traders you're seeing yeah yeah and then it can be really kind of choppy but you can see how the larger player can really move that market here here here comes our squeeze guys beautiful beautiful squeeze uh actually uh not seeing a whole lot of stops yet okay so that also gives us some insight right okay so looking for 50 uh next target and then back and like we've mentioned before these these uh mean reversion traders are relentless so looking for continuation not just 50 looking for uh 53 uh 55 here back into this previous structural area here now they've made it through the the low volume node here all right so let's see if we get it kind of a bounce off of it here so right around here pull back here yeah funny just kind of filling that that area in right now come on where are those relentless uh mean reversion traders no trend will likely go down alec as well i i agree on that i'm just i'm watching really closely in here this dynamic between these buyers and sellers and trying to get them on the hook because i'm just not convinced with some of these little drops in here like we're mentioning um and it's just this is you have to really pay attention to these areas in here um when it drops and they move it away on strong volume that's something different uh and that's what we're looking for because then we're looking for uh a new range a new area to be established and then the continuation and we're watching and and looking for it here um yeah i thought this was it here but we would still may be we just need to see if they can get back up into it and then back up into hearing and get more people on the hook yet again here um and we'll see i mean here's where that buyers sprung from right in this little area here you can see them the dots that's where we're testing right now so are they going to support it let's assume in here i thought they would support it more in here okay we went down to where they initiated the move here okay point of control has now moved down to here okay this is the most traded level that's going to kind of disrupt some things as well okay this is no longer the most traded level uh up here around 53 okay all right so we're bouncing off of it we're going to get more sellers here they're going to go for this 32 liquidity here bottom edge gotta see the sellers throw up here still still i mean uh yeah i mean they're showing up but they're not able to quite drop it yet nip still nibbling away at it okay there they go all right so they're they're going for it so this will this will be a new low then down to 32 just not finding buyers i mean it makes sense i mean that was the overall kind of like you know looking for this 23 level down here and just super super strong momentum here okay let me get to some of these questions here um do i see icebergs move down from 43 25 i see one down here uh 63 is that what you see uh serendipity okay guys we're starting starting to trade into or get into this 32 liquidity level here high liquidity here 800 almost 900 contracts down here big iceberg buying there too so you know 900 contracts one iceberg buying this bottom edge here this has just been tricky um and yeah i mean when it looks so obvious uh just watch look for these little areas and trappy areas and then you know these kinds of moves unfold um and we will get those uh mean reversion traders they will show up at some point here today maybe it's been a little early for them but uh you know at a certain point like it kicks in um let's see what does typically mean when there's almost no big areas we're resting sell orders um so yeah i mean it just means like uh you know there's just not a whole lot of supplier demand in here right and then that's what can lead to volatility like right now you know i mean liquidity is here see see how we can get we can get some insight from this right here 36 when we see some sellers take it on so you know we know that there's some selling pressure in here uh this was like a test here okay show high demand right are their sellers yeah they found some so now we're looking to see if we get you know a one one a move one way or the other here uh after this event okay so they're they're showing you know some supply up here what's the reaction what what what is the market feel about that liquidity okay it's not uh you know it's not like an some sort of math problem in here is like oh it did this it did that and then that now it's going to you know um uh therefore it's going to go you know a million miles at one way or another let me see how the one player can come in here and disrupt it just like this right here okay and that's a stop run to 274 stops just triggered up into point of control so i mean that's very very difficult to see when that might occur here now we did have a little bit of a skew in the order book here and that's helpful okay it's pretty far away though okay now we have more demand here and we're above it okay great all right so let's see are they interested in going for this 43 40 no now we're down below it here okay are we getting sellers down here if we get sellers at this bottom edge here and this liquidity polls here yeah i'm looking for 30 33 okay there's our sellers and yeah i i just don't like it i mean like yeah selling looks good it likely is is more likely to to go to 33 here but you know here's we got some demand in here and then this move is not very convincing here not very convincing at all because uh yeah you know after this move there's a little bit of selling a little bit more selling but uh it's it's not a whole lot and it didn't move it only moved like three ticks so this is this is why you know we kind of we didn't like it we want to avoid it because they this is where the trap was set and it was like what we were showing earlier these little pockets selling down at the bottom edge upended by buyers coming back up and then the squeeze hey back up to 40 okay back to point of control so it's been it's been um yeah kind of kind of tricky but that we know we know what the scenarios are in the order flow and we're just going through them i'm still really curious about this area up here right here okay and and and if we can get buyers back up there so that's around 43 we can take a look at this here okay obviously this is a stop run um all right actually let me take that back it is a stop run 64 up here uh but this is a larger player uh coming in and sweeping the order book higher buying okay that's disruptive here i look at this is just beautiful just takes all the liquidity takes it takes it takes it takes it and then stops are being triggered in here and then stuffed at the end here 64 uh all the stops after he has finished buying the stops um transact the buy stops now let's look at that relationship of this here so we went a little bit higher so you know uh where did this buyer come in where is he likely to defend it we'd look here back down at here 36 okay now let's let's move forward okay we're down there right now okay is he gonna defend it i don't i don't see in the order book here not much now he bought with market buy orders and we got sellers below it now here here he comes let's see let's see if we get it here okay 36 50 here that's where we put our line no there's selling below it boy the the order book is pretty dark in here that's a little bit better yeah we got sellers below this line here all right so now let's see if we can get a nice push then down into 32 okay we're back up to our 36 and a half we get our sellers boy i don't like it i mean you know there's some down here they're starting to show a little bit in the order book down here in front it's just not much inside here okay we're back down here and just not convincing not not bad not bad but it's not much of a move okay here here comes a buyer here i'm starting to move it back up okay now looking for a move back to 36 from that buy side here okay that just at at least back to 36 that's it okay but buying's really picking up in here uh now are they able to move the market a little bit a little bit it's just being being really careful with this we look for a move and volume not volume and uh uh no no move uh here okay going for 32 boy it doesn't take 32 on look at that interesting larger player here large lot track you're showing probably about 800 contracts one individual player here in the order book and there he goes okay so that that transacted so there's our transaction there all right and let's now let's see what uh what happens after that event this is our big event here okay and here it here it is like it's a false breakdown okay getting some sellers here we're back up in the range here looking for buyers here looking for 36 okay because we're back up in the range here and then looking for maybe our 38 level here okay the the event took place but we're above it now okay retest to it and let's see if the buyers defend it probably we're just not getting much from the order book in here that it's just kind of kind of wonky in here okay it's really about we're looking at the aggressors here we're not getting too much out of this order book and let's see okay 95 uh uh iceberg here transacted up here followed down and there's a stop run 98 into uh 43 30 oh he's looking he's lowering it down even more getting filled and here comes our friend all right so snaps it away here and uh back up into let's even get back he's probably gonna want to get it back to 36 and a half here all right yep let's see it let's see it then you should be able to do it you got it you got these guys on the hook on the hook looking for buyers here at 33 and let's see let's see the move ultimately looking for 38 basically or 39 up here so there they go all right now it's easy breaking structure he just tested the structure okay looking for more more up here 34 and a half uh and then continuation it's transacting okay top edge and let's see the push order book is still really dark underneath there we go okay still looking for the push okay that guy's uh where he started buying is it's back to his point or back to where he initiated here okay i want to see it through that him to be in profit and that would be up here uh you know 39 a little to see the order book a little skew in the book there's our 36 still looking for more though kind of clue everybody in uh you know back into the high volume note here yeah everything is market market orders i i agree uh eric i mean it's it's tricky it's a lot trickier to read in here um it's just kind of uh you know uh dependent on on the aggressor behavior uh which is you know what we've been seeing here and it started off way back here i think where that larger player came in and disrupted the whole whole thing here uh up here right and that and and you know the market sentiment was was was pretty negative so i mean we got continuation here um and then but then these little trappy areas in here in the back and forth in here and you can see like you know we can even take the order book here why don't we just make it more extreme uh when there's not a whole lot of um a whole lot of players and you know you get those those days like let's say like uh in the s and p we see these days when there is just um it doesn't happen very often but you know you might have your limit up your limit down and circuit breakers are triggered uh etc the um um uh you'll just see like a it bash around between kind of areas of high liquidity that start to come in uh where larger players are willing to deal and and and and the market just kind of sways back and forth in between those areas in here so if we zoom uh yeah i mean this 43 25 now they're showing some in here at 29 getting our buyers okay pulling here okay return back to 36 and a half okay and then and then 38 or 39 sorry uh liquidity's up here at 40 okay not at uh at 39 at least not now you know so from 30 to 39 basically yeah alex alex you just avoid trading in this i i i do too um you know i give it i give it a few shots uh and if the behavior is it's just difficult uh and hard to read and we're not getting insight um then we've we've lost an edge i mean like like this move down here i mean like yeah okay it went down to this high volume node and it's bouncing off of it okay yeah we've got that to lean on but when we you know here you know we get we got high liquidity in here now what's the reaction to it okay sellers seem to go after it there they go okay now the do they do they pull away and then come right back to 35 here all right you know we we can uh maybe um uh since this is um more challenging to read on this on these timeframes we can we can start to look at some very um uh fractal timeframes smaller timeframes in here and start to read the order book uh maybe that's a better better exercise right now or or look at just a different market so here we go here's some liquidity coming in reaction has been sellers okay great sellers then go for it here you know you can trade down here 30 and they don't they don't go for it let's see if they go for it now they should should go for it right here they do not one more now third time's charm let's see 30 and let's let's kind of set up here for a bigger move now uh it's been making uh well it did make a kind of slightly higher high but like it's making like lower lows here and and lower highs in here bodes well for not just a move into 30 but our 25 or our 23 area that we're looking at here and you know it's been back and forth and back and forth now we're looking for a directional move here by the sellers okay strong selling boom right down to 25 and 20 here let's see if they follow through not just sellers coming in and just a little bit here and then and then get up ended we're looking for them to drive it away on strong selling here and so far so good uh let's see another another leg lower here and that should help seal that direction here okay let's see it sellers there they go all right so and now continuation we're not looking for in this uh move here we're not looking for these these sellers to be on the hook here we're looking for buyer sellers to drive it away from the area here okay so and we already got to pull back all the way back to 30 where it just dropped from stop run here and here all right so this is kind of what we're looking for here our structure and now we're looking for a new structure and then this was really choppy in here in terms of structure and come on sellers push it uh let's just double back to our higher time frame for a second here coming down to our line here okay it's been a nice move on the daily at least hourly looks looks pretty good too 15 minute um yeah we'd have to zoom in here a bit yeah this this these wicks and these back and this back and forth in here this chop um this this um as you guys can see this was at the cash open here right 9 9 30 yeah so this is a 9 30 move here uh and um uh you know that that concept of like who's in control you can see it in some of the candlesticks here as well so these are two pretty big pull backs but but um the uh and we see rejection off these candles here but the sellers remain in control okay that concept is visualized in here uh with this sellers in control down into uh 50 we got some pull backs uh and then uh then we got the broke breakdown again here and then uh i guess we can we can mark up some structure in here not bad here uh at least here and then it got this is where it gets kind of convoluted boy they are on the hook yeah we're looking for that that directional move here and you can see how how they're on the hook it's this is tough and there's this you know the the the squeeze again all right let me jump back here um and let's take a look at some of the questions here in youtube uh thiago you're talking about uh delta yeah um market's going higher suggests the sellers are closing positions new buyers coming in well that's where we look at the stops uh to try to get some insight from that uh and and this kind of dynamic between like you know here like icebergs here 408 uh 351 uh you know it's a lot of iceberg buying in here but but look where they started to buy though here and here and it's likely the same person or the same player uh i think it's at the same price level so you know he he bought in here he added in here it's what it looks like to me boom look at that okay there's gonna there's gonna see we're gonna see some stops here yeah so we're looking for that directional move um it was starting to play out uh and um now how many points did it go 30 like let's just uh yeah 30 on down to about 27 it's only three points okay we look for four or five for that directional move um yeah i i thought we had it here uh but the this is where they got upended uh you can see it right in here okay we drew up the structure and we were looking for the structure the structure got broken here yeah tough boy that was boy i wish i was i don't know what i was covering at this point here this is not a bad not a bad read in here for this kind of move higher here anyway yeah i mean we gotta continue to read the order flow that's our job in here uh and uh and and go through the details okay we made a slightly higher high up here too and this low volume node is holding okay that did not fill in uh our bigger cluster down below uh low volume node here and just meaning that meaning that this move down below it's accepting down below it was building out a beautiful bottom edge and we're looking for a rejection and then move back up into uh uh the high volume node here uh nope instead we got a new uh volume uh uh profile down here and it's rejecting off of this 44 area here okay we saw them defending it i forget where maybe it was in here yeah now let me get to some of these questions um uh captain price yeah i mean a 10 point move like um i don't know i mean yeah i think it's hard uh on the s and p it depends though depends on the time i mean you know a few months ago with some some volatility boy it was easy uh these little kind of moves down and then and then sharp moves away uh is um has been you know pretty disruptive and we've been really real attentive to it uh just just not like you know getting too much insight in some of these little areas in here uh from the from the order book uh and um and trying to uh captain price you've been looking at the uh at the vix as well okay yeah that's a that's a you know a much better well typically um kind of a lot of times you can get uh when the when the order flow is a little more challenging in here um uh you know a lot of times you can get that that insight from different market correlations uh that can uh give you that edge like let's take a look at nasdaq how's nasdaq doing here and that's a lot of buying over here on the nasdaq didn't it did not break back up above though you can see the profile in the nasdaq very different very different very chop very choppy in here in the nasdaq look at this what about the rustle yeah rustles looking pretty good here uh here's the breakout now we got it we got to see the continuation here but the large buying back up here looking pretty good um we want to see that continuation of the buying there's a little bit of buying up here it's not bad but it's not that convincing though here they come again though now this is where we need to see the continuation and let's see if we get it here in the in the rustle they're adding on the book here we're finding buyers okay they should be able to hit 1970 okay because if the reaction to this liquidity is buyers we're looking for this to be the um uh the target and the order book kind of flipped here uh came in at 69 and now they're pulling at this 67 here okay so that's kind of tricky now they pulled from 70 and added back down at 69 and now we have a new auction between 69 and 66 volatility has been going up all right captain price you don't like today's action nor do I nor do I um let's see how to differentiate ah yeah okay um uh riz i think you had reached out uh earlier to me about this um identifying um the um differentiating between liquidity that um is absorbed versus a liquidity that repels okay so we've been going through some examples in here uh and um uh you know trying to get insight when it trades into a small area of liquidity uh or large area of liquidity but very short term liquidity uh and uh and and trying to understand so what what we look for uh well first off there's a few different things to look for uh one is the longer term high liquidity okay it basically kind of like marks out the the the price ranges uh and um let's go back to the s and p here uh and uh yeah let's go let's turn our heat map back on to default okay and the high liquidity is down in these areas here okay so you know that that's they want to deal if uh buyers um the buyers are down here if the sellers want to reach the buyers they're down here okay so you know these areas especially like uh when we don't have a lot of buying on the other side here and we get those trends uh you know we got lower highs lower lows uh and um and we see more selling at the lower lows uh and uh uh you know more consistent selling through those areas here yeah we're looking for it to come down into these areas of high liquidity now once it hits these areas of high liquidity uh you know do what do we see after that okay that's where we look for like uh are they able to trade down below it uh and uh if not um are they able to get you know back up above that area here with some buying pressure okay so typically then that leads to these kind of like um uh volume that's on the hook here uh and then you can get retest back up into these swings up here okay so here here's here's one already but it didn't quite get all the way up there it made a lower high okay here again it traded into here and then it did come up here right so and again like we're looking for the liquidity uh this is on you know or i'm sorry the volume uh this is on the hook this is kind of on the hook and looking for retest back up into some of these areas here all right so uh that kind of partially answers your question but then you know like we've been going through in here what is the reaction to high liquidity so here a larger player comes in and kind of tests and feels out the market they didn't even transact you know and uh uh they put in high liquidity here is about uh 138 contracts or or so 140 uh and um what was the reaction to it it was kind of muted in here we didn't really we don't really see too much in fact there's a bit more buying in here um we didn't get too much out of this reading or out of this test here let's just go through it like you know here here he comes in puts his puts his liquidity into the market okay initially some selling now we got some buyers here and now it's just kind of sideways here we got a little interest a little buying but up here do we get the buyers did they take them on no yeah and then he then he pulls uh looks like he pulls and partially added some down here uh to get filled and he did okay see how he pulled here and added down here uh and then got filled so you know if he's going to put this in here and he doesn't find buyers well maybe he can get filled down here find some buyers and then look for continuation right so i would imagine that's kind of what the player is doing here uh and then let's see does it work out for him well a little bit okay is the same player comes back in again maybe let's see how many how many contracts is this yeah 131 in here 132 136 in here flashes again you know uh there's a relationship between these areas in here see where this was like this is uh demand turns into supply in some of these areas here here's kind of a and that that concept of a flip of the book in here and and then we get the continuation here well even this is a hard read i mean even in in in hindsight like yeah there's some transactions down here but there's some some buyers back up into here sellers do take it down they trade into 30 and through it this was our this is where we're looking for that continuation move uh now this is where they got upended right in here that tricky tricky day okay well we have our european clothes here uh coming up and we're back up here kind of uh i have this little or this uh low volume node in here very curious to see about uh what what kind of unfolds here is this is going to hold or not very curious okay we're just back down into high volume node or this this this uh uh most traded level here okay let's see if we get sellers to try to move it away from it there they go okay bottom edge right let's see them continue though looking for more sellers to try to drive it lower 35 can't even get that lack of selling okay well let's look we're gonna do just look at some of these micro ranges in here here here we're getting sellers let's see we get more sellers here at 38 nope order books actually showing a bit okay now do we get do we get our traders at at 38 here our sellers still no still no there they go okay 36 and 35 and maybe 33 okay looking for continuation bottom of the range 36 and a half looking for it to transact and we get buyers on the other side or at the bottom edge here right back into 39 right where they dropped it from okay order books are gonna show something in here there we go there there's a flip of the order book see the flip on the on the bid now on the offer and sellers boom 36 and 35 we should get it looking for it and 34 they traded into 36 we got our sellers down here yeah once again right back up interesting all right here we go again all right we're getting our sellers all right sellers should be able to drop it they got it they've got it looking for 35 and they got these guys on the hook now too see now pull away there now we get 35 and I want to see more than that though not just 35 I want to see more than that like they should now this is we just they come right back in the squeezes squeezes back on even microstructurally is challenging here so yeah it's just not a good day not a good day to trade okay here we are back down again push that bottom edge here sellers and and break it okay you got your pullback now we're looking for them to break it now see how it's dark in here and then what buyers can fill that in but I'm we're looking for our sellers here to push it 30 35 34 back down to maybe 30 and and yeah 31 and 30 here there's an algo here pushing lower nice little kind of uh I don't think he's chasing I think he's he's trying to you know push price lower here that's what it looks like he did not I don't see any large transactions from this algo in here I'm sorry maybe maybe they did and it's possible at yeah I still don't really know I don't really see it I don't see it so yeah just trying to push price lower that's what it looks like appears spoofing type of that ignition type of activity hey there's a reaction to some liquidity right there sellers and let's see this they should be able to looking for it most likely move while he pulled so anyway in terms of order flow another thing to take a look at here is like if we're going to look at some of these ranges and this is the behavior again and again and again and we're not getting that kind of drive that we're looking for then there's some really nice range found uh you know potential strategies here to look look for and that's on the hook on the hook uh you know these uh uh uh different different traders at these areas here um within the range so your range bound strategy start to start to mark up your ranges in here and get a fuel form and then look for someone being on the hook like these buyers being on the hook here okay if we get sellers here all right if we get sellers here looking for the move right back down to 35 okay and then let's see if they can get through 35 and then get back down to the bottom of the range here and and maybe break a low into the 33 here just from this structure all right so uh and you know we played around with this uh idea um a while back uh on a very choppy day okay but we're looking for it right back down into these levels here okay I was looking for started off the day and and looking for a directional move down to 23 that was the big move we had nice volume uh and then we saw a lot of disruptions within it uh and started to kind of change that idea uh and then you know now getting a feel for uh these little pockets and these kind of uh like smaller ranges in here and uh uh you know looking for some of these moves uh around these ranges here okay and an order flow kind of on the hook or uh top of the range and then sellers come in on the other side and bring it back down okay so always looking at then the top of these ranges in here and looking for um potential pitfalls here in traps see like this buying in here now they're buying at the bottom edge here and they're they're able to move it they're able to move it higher now but this you know if we get sellers below these guys here look out now now now we can get their directional move we're talking about but they're buying off of here and they're able to move it higher and they started auction out up here and able to move it back up okay well where are they going to be upended okay well this is not a bad area here so there are sellers now bring it back down here now let's get all of these buyers upended and let's see a move down to 31 here let's see it sellers okay it's not a big directional move but uh uh that's what we'd be you know looking for the these guys to to puke out and here's you're going to pull that liquidity at 34 great let's see let's see the puke out let's see the stop run down to 31 can't do it all right so back up to the top of the range again here this is these sellers that are on a bit on the hook here this has been a really tricky day okay we'd love to see it go below here let's see it if we can if we don't and we get our buyers up here back to 39 but here they go all right so sellers here let's see them move it back down the bottom of the range here 34 and then let's see the move now 31 it's got to be 31 not looking for buyers to help help out here looking for the continuation to 31 all right even better all right sellers let's see it then right down here at 33 to 31 they got to sell here though not we don't want to see selling up here we want to see selling here okay a little bit of order book skew there reaction is sellers let's see these guys get out of the way here at 32 and three quarters and sellers drop it into 31 and maybe 30 here there they go okay 30 is transacting there they go even through 30 all right let's zoom out here is this going to be the bigger move down to the low of the day here and then 25 look it looks pretty good the volume is picking up here let's see if we can get our continuation down to 25 20 maybe 15 or 13 down here let's just jump back and look at our higher time frame for a second okay we're just getting around that edge here as we inch down all right yeah I like it I mean it's European close is just finishing up here so markets can you know basically move now and I think we'll kind of let's wrap it up here we'll end here and I want to I'll answer a few questions for you guys here before we go but then jump over to the Trader's lab with Tom B okay so he is you know he'll be trading this afternoon and he's in there for like four hours four and a half hours so you know there's going to be a lot of stuff to look at here and go through and let's see if we can get our continuation here so typically during the morning session you get these opening drives like this and then you kind of get a reversion trade and then continuation in the afternoon is you know a likely scenario not always but you know it makes sense there's a lot of activity US open and Europe trading together and then looking for you know the continued move later in the session now there's a couple different scenarios we're going to look at here number one is we're looking for continuation lower right number two is and on Fridays we have to be really careful about this but look for it look for it okay here's what the scenario number two okay is a move down below some of these areas here our line or our levels here and why we have these levels and then the rejection and then a move back up probably right back up into maybe 4380 or so somewhere around in here okay or maybe even higher right this gets everybody on the hook everyone from yesterday the sentiment is is really bearish today we get down to these levels and then you get this kind of reversion trade back up into these levels here okay so be on the lookout for that scenario here and it will be pretty it should be pretty pretty obvious it should be pretty plain here you'll just see massive green dots moving it away okay after and it's been really choppy in here so you know that's the second scenario to look for and then you know everyone gets kind of you can get all these margin calls and liquidations and end of the week and get everyone kind of on the hook that happens a lot on Fridays so we want to be on the lookout for that scenario and yeah see if this maybe unfolds here right so I keep an eye out for it let me answer a few more questions here yeah Captain Price hard to tell if there's real buyers in here or exactly I've been struggling too but we're looking for them real buyers or real sellers here and then these larger players kind of come in and disrupt the moves or the the outlook and the order flow red dots are the stops okay these blue areas are the icebergs and it's also in the sub chart here number in the lower left not sure which this one here Matt but this is just kind of we have our volume bars down here and this is just showing us the volume bars kind of a reference point so this is 2,500 contracts and so this big green bar here is probably around you know 2,000 or so you can look into the details in the dots up here okay so that answers that question and Peter trying to understand the volume profile underneath the chart with negative numbers not sure I understand what what you mean there the negative numbers well I mean it's always positive no matter if it's buying or selling in here there is on days like today also could be really helpful let's let's open up a new column here and I just want to show you this feature in here looking at delta so looking at the same volume profile columns here there's just two different ways of visualizing it one is showing buy plus sell here the sellers are read the buyers and this is you know these this is the aggressor and and it's a composite though of buying and selling this one here is buy minus sell same column it's just a different configuration but we can start to understand where sellers and buyers are uh in in some of these ranges here okay and where they could be upended to so like right now trading is trading into that high liquidity at 25 okay well if we can get buyers pull it away from those guys where would they start to take control they would really start to take control up here around 37 uh but uh if they can get upended to these guys in this kind of selling cluster see the selling in here uh if buyers can upend them here around 27 uh then you know look for that scenario and where would they likely trade back to well maybe 30 okay by just looking at some of these um uh delta areas here because this is where buyers were previously like they'll be sellers once it comes back up here right you know if they're still holding if they haven't gotten stopped out so we can start to look at for some of those scenarios to maybe unfold uh using the delta uh as well uh what do stops and icebergs mean uh uh peter i would recommend going to our um knowledge base go to bookmap.com click on the more button uh go to the knowledge base let me show you quickly okay uh let's see here bookmap.com click on the more button go to our knowledge base here okay and then in here go to the add-ons section here and then you can read about stops and icebergs here and here all right yeah that'll that'll go through it and that should answer your questions all right guys thanks for coming everybody have a good weekend um and uh uh continue on with the the trader's lab with tom b uh that's uh exclusively on our discord channel uh and uh you can continue with the uh analysis over there uh tom is looking at uh volume profile okay thanks everybody and have a good weekend