 is up and running and we are coming up to eight o'clock and welcome everybody welcome to Wednesday the 30th of August and a big day in terms of economic releases and welcome to our one hour that we share together on Wednesdays and Fridays quick recap on disclaimers all bookmarked limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations and 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 a future benefits as the usual thing of me but we'll just ignore that one get rid of it go back on the display capture yeah just before we go through the agenda for today I'm just going to just reiterate the comments are very welcome ideas for what anybody would like to be discussed our welcome as well they can be posted in the discord channel under my name in big in book map and also during the webinar live on the YouTube channel so welcome everybody again okay before I go through the agenda we can have a very very quick zoomed-out look at the heat map and you can see a thick band of excuse me a thick band of liquidity up at 4508 4509 and we also have some good liquidity below so it's a mixed bag and if we zoom in a little bit more you can you can see the actual numbers on that liquidity okay let us have a look at the agenda okay we're doing a context update quick checklist as a recap of what I talked about a couple of weeks ago in terms of our personal checklist before we ever trade on any particular session or sub-session and then we can have a look at something new this week which is Python for Excel and I'll and I'll quickly talk about why I'm mentioning it and in our recap today when we go through the London Open the first hour I'm going to try and do both NQ and ES as quickly as I can we're going to try and use the book map settings and change those settings up in terms of researching and reviewing what really helped and what would not have really helped during that session today and then some live trade analysis obviously since we have a very big economic release being the GDP in 27 minutes we will pause and we will watch that for a good 10 minutes at least let me just bring up the economic releases for today ah yeah very quickly I've got this photo up at the moment I'm seeing if it comes up in YouTube I think it will come up in a second this is a photo of just something that give gives me reason to be grateful it's one of those parts of the body mind check this is trig in Perth in Western Australia and I'm grateful that I was able to run about six kilometers along the headland to that beach yesterday so that's something that I'm grateful for just to just to reiterate that I do practice what I preach okay let us have a quick look at the calendar for today or in particular this session we've got two news releases we've got the which are which are marked in red we've got the ADP non-farm employment change at 8 15 a.m. Eastern and the GDP preliminary numbers quarter upon quarter at 8 30 Eastern so they could be some volatility in fact there's very likely to be some volatility more likely to be at the 8 30 then the 8 15 release but you never know and you can never predict when that volatility will occur with certainty okay right let's go back to go back to the agenda okay and yeah we've got our trading new charts there as always so you can see the reversal that happened before 6 a.m. Eastern in NQ and ES and looks like on this occasion yet again the NQ led ES if you look at those two charts okay so this is just a recap of what I spent a whole hour talking about a couple of weeks ago that the checklist for trading I'll get to the context in a second personal check-in whatever you do if your body you know if you're into cardio exercise if you're into weights whatever it is or if you're just into walking make sure that your body is refreshed with your mind checklist whether that mindfulness breathing exercises whatever it is that floats your boat do that and something that merit black said I thought I would add in to this little list today which I didn't mention or didn't explicitly mention when I did this list previously my process is a better trader than me and I can vouch for that one that is very very true whenever I have substantially deviated from my process I have always regretted it you may get an extra win in the short term but in the long term being the whole session it is usually a disaster to deviate heavily from your process trading plan refresh you've needed so what is it you're trading just having it to hand whether it's a physical printed copy or a digital copy is always a good idea and on to the context which is both up there and down here let's go and have a look because the context has changed I'm not going to talk heavily about the macro themes what I will say is that some of the options related information that you get in RTH was certainly useful in the last couple of days or spent certainly that that turn around yesterday in RTH so it's one of those things that if the macro theme is not crystal clear out there there are other instruments out there that can give you some information one of those are the options the other are the underlying stocks I mean I've always got charts of things like T triple Q Apple NVIDIA etc. Tesla used to be the the flavor of the month not too long ago it still is to some extent and Facebook meta was as well just just things that you're aware of all other things that can show a bit more clarity on likely direction for a session if the overall charts are not that clear by the overall charts I mean the dailies and we're going to go to that now so let's switch over by the way I'm the those of you in discord I've only got you in Stan and Balian I'm hoping you can see so when I switch over right now to the image slide show that you can actually see the charts so if anybody could just put yes or no in discord that would be good okay right the ES daily chart the overall context has changed in the in the in the previous video in fact just last Friday's video we had a we had a strong uptrend being broken if I if I draw it sort of if I roughly draw it with my mouse in that direction and we had a an uptrend that was broken and then retested we've now completely remove that because I try and make the trend lines as objective as possible and now the only thing that really is being respected is a longer-term uptrend I've got to uptrend lines a more recent one and one from a further ago a few more months ago and from a daily perspective we are back in an uptrend you can see that huge bar in ES now if we switch over to NQ come on my mouse is flickering a bit so I'm struggling a little bit with it you can see that see an enormous bar in NQ that that wiped out the entire huge bar that we talked about on Friday which was the buyers being shut off that red bar there well we've taken that one out now so the whole picture has changed in terms of overall context so that's just something to bear in mind if we go back to the TPO chart that we like looking at what I like looking at I've got the N book that meters there that's slightly in the way and I can crush the M zoom on this one so you can see that the picture here so you've got that huge day yesterday with a lot of value towards the high that's let me draw on it because I've drawn yet let's draw let's talk about something that we've talked about on these profiles going into ETH before okay that is a classic poor high and the probability it's a very strong probability is that in ETH which is essentially a continuation on this occasion of that session you know in this session here the probability is that we will take out this poor high and continue in exploration upwards sometimes you just keep going and going on this occasion we did not and we did actually reverse back towards the bottom of this value here so if the if the if the value is one that I've drawn we did actually retrace a large portion of it and we took out settlement which is just there so if I get rid of all of that and you have a look at the profiles in context of everything else on the chart let me see if I can actually let me see if I can actually make them relative to each other for a second yeah okay right there now all the volumes are relative to each other and you can see that whilst the the volume at the volume pro point of control is not huge you can see the context of that was a significant day in terms of its range if nothing else and if we had this here which was a huge volume point of control a naked volume point of control over here from Monday the actually I think it says the 14th I'm not actually sure I could say the 24th that was the big flag that it took out yesterday so that was that was a nice target for them to know that there was liquidity there or enough transactions occurring there that likely liquidity was occurring and that was something that got taken out in RTH okay that's just some RTH profile stuff I don't talk about that very often but it is stuff that I look at and that's why I have one of these charts okay let's go back to where we are okay so we have looked at the the context so that any start of a downtrend has been squashed at least temporarily I'm gonna just gonna stop as well and just see great thanks thanks Balian for the comment that you can see the slides now in discord that makes me happy okay so we've done our context we've looked at the economic releases I'm speeding along because I know that the first releases in three minutes and the last point which I always state is keep an open mind okay alright something new this week I'm gonna cover that one off because we've got two minutes hold on yep we've got two minutes so we I may stop and come back to this but let us just go to the slideshow and have a look at something okay this is a screenshot of my installation of Microsoft Excel and what I am pointing at is a brand new feature that came into Excel that could be especially relevant for traders that either have some Excel experience expertise something like that or are willing to dig into Excel and Python Python is a very very commonly used programming language it's probably one of the easiest languages to learn why could this be important for traders okay let's just go to another slide to explain this one okay this is a slide by my colleague Jay Trader who does a regular book map webinar on stocks every other day and this is just something he posted I think it was yesterday so 10 30 a.m. Eastern 10 38 p.m. my time where am I going on this having the full features and extensibility of the entire Python language and it is the full language because it is basically Python in the cloud powered by Microsoft and Anaconda with an awful lot of the packages you name it seaborn map plot lib plotly just about every data science language you can imagine that is within data science module within Python it essentially means that if you have your trading results whether you've taken them in book map whether you've taken them in Sierra like me or whether you've taken them in Ninja and you can export them in some wow let me just stop and get back to the charts because we have had some volatility on the release of the ADP so I have to stop there for a second I'll come back to that in a second well while I have a look at the market and we can have a look at them both whoa and Q has really taken off I'll answer a question from MLU she's JC KS that volume profile software is just Sierra chart and that was a combined time profile and volume profile so it's just using the inbuilt features of that program and it's just a template that I developed for my personal use but there are no custom indicators or anything like that that is all core functionality of that software yes okay so we're just watching see if there's anything that we initially observe after the ADP release so we can see some liquidity being removed up at 4515 that the liquidity up at 4528 4538 is stable and they've been playing some games around the liquidity towards 4480 but essentially there's a decent zone of liquidity down there that may or may not get tagged at some stage but it does not look like that will happen before the 830 release so we had some good we had a good push-up by NQ and it seemed to drag ES with it looking across at financial juice I can see that the actual employment change was 177,000 against a forecast of 195,000 so my reading of that was it's a slight miss but the market seems to like it it doesn't really matter whether I think that whether I've misinterpreted that as a miss or a hit all that matters is what does Mr. Market think of that news and the instant instantaneous reaction is positive and we're now going towards this liquidity up at 4515 so just have a look now since they seem to be going towards there when did it come in I've got the entire Asian session so I'm just seeing that looks like it is stable resting liquidity in ES and it's not huge it's not huge by any means it's only in the 120 now 170 region but it's been there since we can see exactly when it came in at about the the first London reversal point just you know the half hour after the London open 337 a.m. Eastern so that's interesting that they flagged it there and it does appear that we are going to get close or maybe even tag that at some stage perhaps even before the RTH open I'm looking at an enqueue chart at the same time and we can see that yeah it's if the scene of the crime let's go let's get this down to a one minute chart especially for the next release let's move it down to one minute yeah we are way way off that last swing low in enqueue so relatively bullish but we have reached a high liquidity zone so ES may struggle a little bit to get to that 4515 initially but it may get there on the next news release okay okay so that's just watching enqueue drag ES up looking across at the other stocks that I've got Microsoft is at its highs so is Apple and so is Nvidia okay so everything is quite bullish in pre-market at the moment so they're all pushing ES up so there's nothing too scary at the moment but that doesn't mean that they don't have a good push down to grabs and liquidity and then keep going up okay where were we were talking about Python for Excel okay one of the reasons why or some of the reasons why you might be interested in it is there is a huge benefit I think benefits the right word in reviewing your performance unfortunately unfortunately my personal opinion I've got to stress that a lot of this is my personal opinion I find a lot of the trading statistics software I'm not commenting on on on the bookmap trading statistics here I'm talking about the commercially third-party available softwares the ones that I personally have tried out are things like trade of you trader journals spreadsheet edge wonk which are those kind of stuff kinds of software they're quite expensive they've got a learning curve they're not customized to your own trading operations in the way that you would necessarily like and I often find them to have too many features in them that are not specific or do not have a tremendous amount of relevance to the way that I conduct my trading operations so what I was saying previously was that if your trading software does let you export your trades and we're talking about whatever stats that that does export and bookmap does export quite a few stats and so does Sierra I think Ninja does from memory provided you can get that data into Excel you can build yourself something that is just as good if not better because it's specific to you in Excel without too much effort what does J Trader say on this slide track each day the setups you're trading it's very very simple in Excel you can you can just have a column with a drop down and just one of you know say you've got two three four eight setups whatever it is you have very easy to use a drop down to say for this trade it was that and then use that to check your performance we are talking about ETH primarily in in this I'm just going to get off this slide and get back to the display capture but I'll keep talking about Excel for a second just so that you can see what's happening in the market they've just had a nice big pushing it up but they've just taken it off and they only filled 30 so that's not that they're just a little push that they gave the market upwards but it wasn't a huge push you can basically track say you want to know what your performance is like on Tuesday London Open because that's when you're always available and that's when you want to know whether or not you have good performance so you might want to know how am I in the first 30 minutes how am I in the first 90 minutes of the London Open it is now incredibly simple or relatively simple to use Python for Excel to do that and have some very very nice charts to go with it so that was just my my two cents thoughts on something slightly left field but that is related to trading and that came out in the last week or so okay let's get back to our agenda okay so we've talked about that okay we're talking about the London Open today we've got seven minutes before the the main news so the idea at this stage is that we've seen nothing too scary the liquidity the closest liquidity is really up above and they seem to want to be drifting up to that liquidity and the 4515 level eventually that they flagged a good few hours ago okay all right and just looking across before this one something that I always look at as well is how the dollar is tracking today and it has been tracking downwards since effectively since after just after London Open so it did take out yesterday's low but it's bounced a little bit off that so in other words the dollar is fairly weak which and that since it has a relatively inverse correlation with NQ and ES certainly for the last few months that is positive news for the very very very short-term trading in ES and NQ so have a look at NQ because I think NQ is deriving this session so far so let's just see what it actually did on that release so at 8.15 we had the release we had a big drive right up to this liquidity that they'd flagged at 15.430 almost touched it good rejection second approach and I'd say a likely third approach if you give them a little bit more time but again just a personal opinion no guarantee that will happen but if the liquidity stays there does not disappear and they've touched it once and they've approached it again there's always a likelihood that they will get there just watching NQ in fact we might differ on the the research and review just for a few minutes because we've got relatively interesting action leading into the major news release of the of the morning being the GDP numbers so we've got a tiny little iceberg which you can ignore because it's only been filled once the only thing about it worth noting is that it exists and has now been broken through but the more important thing to note is something that we've noted previously where you have a thick liquidity area often acts as a bounce or resistance point upon the first test you'll often get there again may not tag it but on the third or fourth approach it normally hits it and interacts with it this is the third approach again not necessarily going to do it yet when we've got a watch in terms of are the buyers you know are they filling what they need before they actually get there here they've actually taken it through we look at the size it's a decent size bunch of trades you can always zoom in and see what the actual individual trade was it was about 82 into that liquidity and what is happening just afterwards you know he's on the Delta side here that's quite a lot of potentially trapped buyers at right at right at the top so there's you know if you had a reason to scalp short that might be one of the trigger factors in getting you down for a few points but again who knows sometimes since we cannot predict the future you know where you have a scalp it cannot it can quite often be a big big reversal point but here it does not look overly likely except they've got some liquidity they're trying to push up here and that and if we zoom in a bit and we look at how much how many buyers they've got up here we've got a fair few buyers so yeah it was a it was a nice little scalping opportunity off that liquidity interaction there not a huge our result so far in terms of what were the triggers to take that in terms of our supply and demand setups if you were taking a scalp short there that is the C in other words the breakout failure or upthrust and your triggers just off this chart I mean you've got taking out the higher coming back down you've got the big trade into liquidity and you've got the market pulse that's just some little factors in there but the context is up so it's not really surprising that they've gone up and interacted there again and what is interesting is that this second up thrust so if that's the first up thrust which is the interaction with the liquidity the second up thrust which is taking out that high and failing straight away that would have been a beautiful trade so once again since you cannot predict the future you do not know which of those set of those two setups here which is the two up thrusts is going to be the one that gets you the three are the four are the five are on this occasion it was the second one and that's one thing that I keep keep saying we cannot predict the future and if we have a process which says we have this setup we have these factors we have this confluence we take it and we accept that a lot of the time we will get stopped out now that is the nature of the game you are creating your own casino and you're playing a casino so you know it works both ways you have to stick with the process to get the longer term results and accept the losses along the way okay we are right into the 830 news so let us zoom right into the ES and since the NQ has actually given us setups along the way I'll be interested to see what happens with ES on this one so if we just zoom out again on the on the y-axis you can see that heavy heavy zone there and liquidity up above at 4538 okay we're coming right into we've got 15 seconds 10 seconds you can see that as usual a lot of the liquidity has been removed going into such a volatile news release and price may disappear off our charts but let's have a look and the release is out and it 2.1% actual against the forecast of 2.4% so from a factual basis it looks like a miss and the market likes that and has driven price up and we were talking about this 415 a few minutes ago so that will be interesting to see if we get there they did remove some liquidity but they've put it back on that was something they flagged hours and hours ago now it's five hours ago so it would not surprise me or most of the people watching this if we get quite close if not interact with it a nice little 77 stop along the way whenever you have a material value in the stops icebergs indicator I pay attention I mean I've spoken previously about my settings and the fact that I show all the stops and all the icebergs but I try and make them a little bit transparent so that they don't cloud my view it's just factual information it's market generated information because it is a fact that every single one of these red dots here was created by a stop order so it's very every single trade there was created by a stop order so it is market generated information that is factual in nature it's still grinding towards that 4515 and it will be intriguing to see if we flush up into it and then reverse that will be interesting maybe because the context is now bullish upwards we will just keep going up but anyway we have 28 minutes so I've got to be aware of that in terms of the time it's just we don't normally spend a lot of time doing live analysis I know that is the name of this webinar so sometimes it is good to actually do it one of the things that I wanted to cover which relates back to the London open we can do right now anyway I was talking about in my agenda checklist for this webinar session one of the things I like doing is researching so I can do that in book map and I often do you know where I've missed a session you know because I have commitments like I did trade at the London open today but I only traded for about 20 minutes I had parental commitments and they always come first so I had to go and tend to those but one of the things that I do like doing and just want to get this out of the way I do this especially on NQ in ETH because it interests me a lot to know what what the significant trades are on the turn so what I'm doing is just increasing the minimal displayed volume from one which is where I have it at all times that I'm trading to a higher number to see how it filters out the trades and to see where the really large trades are and what happens on the back of them it is more relevant to NQ and maybe we should just move across to that still slowly grinding up as NQ had a reversal NQ's had a reversal it's probably the scenario if I do exactly the same thing that I just did but in NQ so I increased the minimal volume and I go up towards 10 it normally becomes quite interesting in ETH because you can suddenly see all the big trades so that when you zoom out you can see all the big trades like this one here 211 and you can see during Asia it becomes even more interesting because you can often see that you need something like a trade of 25 or 30 in volume to be a swing point I something significant enough for them to have met what they wanted to achieve and to turn it around at least temporarily that's one of the things that is worth doing in your own research to find out you know do you want to see all the dots do you not want to see all the dots how do you want to how do you want to portray them I know most of the people probably still most of my audience here have Delta dots I know I don't this is primarily an ETH version of book map that I have got on the screen so I'm looking for things that help me trade the ETH session and in the ETH session as I've mentioned you get more trades in NQ on average than you do in ES and in NQ it is it is better in my personal opinion to see the volume dots than the Delta dots the other thing that's worth doing and we'll have a look at NQ now and just do this is to turn off those volume dots remember we've got a chart here we've got a one-minute chart on the right of NQ it's interesting I mean if you know if you've got some doubt in your mind is oh will I use the stop icebergs indicator how will I use it if you just turn off the volume dots entirely no this is just temporary and it's just for research this is not when you're trading but when you're trying to to ascertain how best to use some of the components in book map for for your trading then it is really quite interesting just to see you know to see what has happened with the large stops and and the icebergs here so you it's a little bit cloudy because I've actually got the absorption on so you can see the large trades 22 trade there but that's 77 in context of everything else on this chart that is a huge stop so when we turn back the volume dots on oh we know know that this we know that was a huge trade we know that there's a probability that will come back and be retested and that we should have some significant impact in being a line in the sand to potentially get us down further or if the sellers are swamped then we may go up quite a long way but you know this being a good line in the sense if I draw that let me just draw this as an interesting line the sand so when you have you can see that they approached it a couple of times there what would be a really really good trigger is if they just stop out those people with an upthrust and then they take it down that's always something that we talk about in this channel as as the C method of the S supply and demand so from what I'm saying you've got a line in the sand here which is at the 15 430 level they're trying to drive it down and you're looking for supply shorts in that kind of zone preferably with some green Delta there to say that they've trapped a few buyers that they are going to act as fuel to get it down a bit but bearing in mind that you're trading both instruments together in other words the ES relate specifically to NQ and and vice versa so you've got to watch what's happening in ES you know you've got this trading view one-minute chart there but I also as I say in my trading I've got the bookmap ES and NQ side-by-side on my giant monitor so I can I can I can see you know the action the relative action and also importantly if for example I've seen a huge trade in ES or a huge trade in NQ or I've seen a massive iceberg in ES that I don't miss it because it could well have direct impact on a trade that I'm taking in the other instrument or I may be in a trade in the other instrument and it may give me added incentive to stay there or a warning sign that that it is likely to go against me that's just a couple of the ways that I use I use book map okay again we've got a large trade here 52 anything like a 50 trade at this time of the day because we still haven't hit the 9 a.m. is significant but you'll also note here and we've zoomed out this is one of the great features of zooming in and out you can see where the delta and the trap cells are so you where you see that fuel there and we grab the grab the drawing pad I'm just saying this is something that I say all the time that is fuel they go down to grab the fuel to go higher and what and that applies equally to whether you're talking about scalping or decent little swing trades you'll notice that the the scale recent itself so in terms of where our level was that we drew previously is no longer right so that's just something that you also have to be bear in mind when you draw all over book mat like I've just done so maybe I should get rid of it and so if we zoom back over here in terms of you have a good move down time to draw again you have interesting large cells there you've got a swing high there this becomes the best setup even though it didn't actually work out so far and we're now breaking new highs in ES but if you were shorting that there would have been the best entry on this occasion as I say again we cannot predict the future and the fact that it went in the other direction is neither here nor there what we're trying to do is demonstrate the good setups and exactly what the process is to take them and that setup there is often very very rewarding okay come on so we've actually taken out the I said here when I spoke about this one which was at the 430 level I said that this trade here the large 116 these two trades that often gets retested so on this occasion this is not a supply and demand trade in the ABC description that I gave previously what is what this is is more what I call a pullback in a big move where they'll often come back and retest a large area which is which you can call a resupply or a demand or just a retest of a big trade and then continue onwards and that's what that is and we can go through that kind of setup in another session but again it's it's something that happens in NQ a lot in ETH it's interesting to try and describe it in real time as it happens during quite a volatile period of the market so I was you know I was presuming that we might flush this low down here but we haven't got there yet what is ES doing we so haven't got up to that four five one five level but you can see that the liquidity at the four five one five is not stable at the moment so that can mean lots of things you know one of many many hypotheses is that they need some more fuel down here to go back up there that's one of the many so we did flush on NQ we flushed so we retested and flushed this 57 trade here that would in turn have been a good scalp long which is the Wycoff spring again that's the C category of the ABC setups that we looked at before and in the context of this being a new daily uptrend or a continuation of a longer term daily up trend those trades tend to work better than the shorts okay I'm just stopping to see if there are any more questions about anything we are coming up to quarter to nine I am having I'm sorry I'm watching both every trade I'm just having a quick look at the liquidity picture again for ES it's quite stable below you can see this is a fairly thick liquidity band between 12 and 15 that's attracting it upwards and you see that the liquidity up above at 38 is stable so let's have a look about when that came back into the market that came into the market at wow 21 37 so that's 9 30 yesterday evening New York time so that's been there a little while okay I am going to digress and do a proper review of NQ at the London Open because there were plenty of trades that we could see where you used a combination of a very short time frame chart and book maps so I think it's worth spending a few minutes there yes is in a position where it's likely that you're going to tag this liquidity zone here you're likely at some stage during maybe the RTH session to get down and and tag this a tag this liquidity and who knows whether they will actually get up to 4538 and tag the upper liquidity but for now you can kind of ignore that because it's too far away anyway I just wanted to have a quick look at the liquidity pitch blitz let's let's go back in time to the London Open and there's something on the slide show I want to have a look at and how it relates to that C category trade that I was talking about so let's drag us back to coming into 3am Eastern it's quite a drag back it's also a little bit time consuming to get it back to where you really want to look at it and whilst I've got that there let's get a picture that I want to show you so we go back right okay this is something I want to show you which is if you use a short time frame chart in conjunction with book map and you use book map as a clarifying tool of what you are also seeing on that short-term chart and I'm just showing you my actual execution chart in Sierra and this is what I was looking at when I was trading this I was around basically about five past three through to three 45 I took a couple of trades on the down leg not the up leg of this session here but what I want want to point out on this which is a 10 second chart on NQ is the swing highs and how they came into play on each of the swing ups so that if you were aware of where they were where they may flush the stops which is particularly relevant in a thin instrument such as NQ you can see why knowing where those stops were was really quite useful as targets for any long setups you you got after we had a reversal which again was I think it's a spring or it may just have been a type B a double bottom trade on the way up anyway so one of the things I wanted to do which I was trying to earlier was to filter out some of the volume on this down to a volume of 10 so that we could see where those large trades were on the way down and then see how they were useful as targets on the way up in in conjunction with that 10 second chart that we just looked at in Sierra so you've got this overall liquidity target down here at 15 394 and for NQ that is a huge number 179 in the order book so it's essentially a drive right down and we can see whether it actually interacted with that liquidity or it just almost did I think it almost did it didn't quite touch it but you can see how that liquidated liquidity was there well beforehand if we zoom right out I think it was there the entire it was there the entire the entirety of the Asian session so it was there for the holes for the for the whole of the Asian ETH session up to three until it was interacted with a little bit in the first hour of the London Open so what our general probability rule was that we said was that as we approach a thick band of liquidity in a thin instrument like NQ the first interaction is likely to be a bounce or rejection which you get then it's like to reapproach and it's often the third or fourth interaction that gets the true interaction or or thrust right through it so here you have the first interaction it bounces the second interaction it bounces very very strongly and if we were looking at the 10 second chart that we just had a look at we'd be noticing how each of the little swing highs on the way down was interacted with with in book map on the way back up and where the eventual where the eventual let me see if I can just zoom this in where the eventual turn around was again the delta column and why it's useful to you you want to see you know if you've got an overall target or an overarching target down here at the the 384 15384 you want to see are there some buyers on this swing high here that can act as fuel to get you down there because if they are then you have a great are set up you know say you're taking you know five six seven eight ten points as you as you're on there and you do using a multiple of that to give you an equal value dollar risk per trader as I've been saying that I do then you know if you if for example you you decide it's quite volatile and you need an eight point stop which is you know a decent average risk point size in this session then you know if you can get in in this interaction here around the 4409 and your stop is up around the 417 and it into it did all it did go all the way they even if if you egos to the trader there which you didn't need to on this occasion that is a you know that's a nine down to 84 16 25 yeah that's at least a 3r trade and if you had scales then you know you might have been lucky and got to a 4r trade so having those little swing points and seeing the types of volume on each of those swing highs and having these columns in bookmap to give you an idea of where a good a good turnaround might be so effectively you you here we are here what we're saying is that we have a good swing point here which we saw in Sierra this is the category C trade which is the fail breakout above that one so it is still a supply and demand at trade I mean you can also look at it as I pull back on our slightly higher time frame and that that gets us straight down to that liquidity and if we we go all the way back down to one on the volume since we've just had it at 10 I think you can still see those large volume dots again I remember you can always tune these with this lighter here so you can always just slide it back down until those large trades become obvious I pushed it just about nearly all the way down but now you've got these three large trades here which are obvious in this obvious in the in the sense that they are material looking at every single dot on this screen those three dots are the most significant volume trades that you got about a fourth one or maybe a fourth fifth and sixth one over here but these three are the largest with a thin instrument wherever you have a large transaction trade and we're talking about 185 and it's clustered 140 and 76 and you're looking along at the number of buyers and the potential buy trap then you can see see it's quite larger around about there that is often a great trigger then you've got things like market pulse I think we actually had you've got some stops here as well you've got the stop iceberg you've got the 60 and you got a seven and you've got the market pulse green zones meaning that we're above 70% those in my eyes I maybe bias because I took that trade you know that they're great triggers to have and the other thing that you'd note from having a look at the 30 minutes in or not 30 minutes sort of actually it's a little bit late I must have been here a little bit longer I thought I had some lifts to give you can see how many individual opportunities there are in NQ and they if we had a look at ES I'm gonna have to really really zoom out otherwise we can spend too long trying to get back there even though you've got the same kind of liquidity bounce point that you did in NQ the trades the trades are a bit murkier or messier they're not as clean as you would get by way of triggers in NQ but in ES the market pulse I do find is more helpful than in NQ so I'm just saying the ES market pulse is really quite useful probably because it is so messy and it's probably one of the reasons why I created a timed version of that in Sierra as well okay I'm gonna stop and just see if there are any other questions yes Sigma bull hello how does book map no stops a triggered it's not given in level 2 data right okay and this is the definition of MBO okay market by order the CME which is the exchange that NQ and ES are on and as well as RTY and they have market definitions given by the exchange so that rhythmic one of the data providers out there has very very granular data IE has data on every single type of thing that happened with every transaction during a day's session so it can tell you the type of order that every transaction was conducted under so the stops and iceberg indicator looks at that what's known as market by order data within the data feed and sees if they were stop orders or not or whether they were an iceberg order so here on ES at that time we've got a stop order which is the big round red circle on my book map of 38 that just meant that at that time of actually zoom in you might actually see the actual ones there at this time here there were 19 stop orders within this buy trade sorry if I'm showing the wrong thing thanks thanks for the comment sorry I didn't realize I was still on the images so I apologize okay yeah on this individual trade here you've got 19 MBO buy stops within this bubble here so the bubble says there were a hundred and six volume volume worth of trade at that time fact I'm able to zoom in even more and you can see that it was a volume of 62 within that volume of 62 what this indicator is saying that there were 19 buy a stop orders that were connected that were executed as part of that trade so that's that's what that is doing and here again you've got an iceberg here you got a pink horizontal line what this iceberg is saying that at this point here and a sell iceberg started and it continued in time all the way till here where they quit okay for whatever reason that they might have quit and within that time they executed 50 sell limit orders so there were 50 aggressive buy orders buying into this sell iceberg during that time that number is quite low for this time of the day or any time of the day but it but because it was a sell iceberg I showed on my charts and it's information that I take into account you know I have lots of types of information some I take into account more than others and a small iceberg is probably one of one of the indications from the stopper iceberg that I take with a pinch of salt I think I've shown in the last few streams as well that if you've got a large sell iceberg above when the market is currently trading and it is still present I they are still trying to get more trades there then I often see that as a good target provided I get a setup for a long trade to trade towards that iceberg above all right I mean it I like it because I normally get in with a very very tight stop and a very clear target that I'm happy to hold and not scale out until I'm at least within one tick of that iceberg okay just going back to the ES we're grinding up and again I apologize for him leaving that 10-second chart on and not realizing I had yeah so grinding up they still want to get us towards that 4515 but it looks since we're coming up to 9 o'clock now that they're not going to get to do that until the RTH session and bear in mind that they also have this the 4537 from much earlier whether or not that will get filled who knows I can't predict the future nobody can it's just a piece of information that there is a large level of resting liquidity up there okay anyway I hope that the information provided was of some use to people and thank you very much for coming along and I will stop streaming now thank you