 All right, good morning traders and welcome to the book map all markets webinar. This is Bruce said book map We'll be going through the order flow in detail And any market that you guys want to take a look at we typically start with the S&P and any and we'll Usually end there as well, but if there's something else you want to look at let me know and we'll punch it in Okay, so let's jump in disclosure. This will just take a second and then we'll jump right into the Order flow here. I want to go over higher time frame stuff as well as some trade management stuff That we went over yesterday in detail as well So 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 Involve substantial risk of loss and is not suitable for all investors past performance is not necessarily indicative of future results All right, so let's jump in here and let me turn off for now and What's going on today? What do we see? So we see a pretty Chaotic open here. It's all over the place after yesterday's big rise to the upside So what you know, what's going on in here, right? It's hard hard to decipher. Well, there's some things happening here now We're gonna talk a little bit more about higher time frames today and levels on higher time frames in order flow. These concepts are Exactly the same as the smallest Concepts in order flow. Okay, when we look at microstructural areas, look at the order book in here Look at this breakout here. It's accepting. Do we get more buyers up here? Then we're gonna test this liquidity here. Okay, there we go. There it is So just understanding that little move right there, right is no different Then if we look at this bigger move in here, and let me just show you Hey, and I have my trend lines. This is in 7.5. Actually, my trend lines are still on here from Yesterday and or my analysis is still on there. So I'm gonna get rid of it now the same idea here Exactly the same idea of look at this move and this pop to the upside yesterday Super strong day yesterday. Look at all that buy volume. Look at this move to the upside And look at where it really broke out and gain momentum here Hey, that's where we're testing We're we are assuming that there's gonna be a shift in a change here. Okay in this price level here Hey, now just to go over this concept here This little level. Okay here. Hey, we're looking for something to happen there today at the open Hey, look what's happening. Let me just get the drawing tool. This would be easier and We'll get out of that Hey all right, so Super strong move you can see like, you know this this pattern to the upside here and then overnight Just goes down kind of you know goes down. You see a little bit of buying goes back down to here Okay, look where price is going now to the upside. Okay. Where do we think it might go? All right, and we thought that there is going to be a reaction here Hey at this 47 70 ish area here This is an important thing to note on the higher time frame and all of this momentum from the overnight Runs into the previous day's momentum here all right, so If that is the case And we're expecting something some sort of reaction in here Okay, so That concept You can see it right here in front of us here Hey, you can see it many times over All right. Well, here's a breakout to the upside. Okay. Look at this cluster in here Okay, now it's a little bit wonkier or you know at least for this example. It's not perfect But it's not bad see that area there Testing back down into this low Okay, well, maybe we even go with this one here testing back down into that area here And then we're seeing the the move up to the upside here based off of this momentum in here Okay, so here we have some momentum coming in Okay, now it's not as great as yesterday, right this example of momentum coming in But it is there Okay, we got a deeper pull back And we're looking for some sort of reaction here Okay, I would also be looking for some sort of reaction here at this level. Okay at this 71 level here Okay, one a little deeper And then we get our reaction in here Okay, our buyers start to come in And then now we got this move to the upside into high liquidity up here at 4780 Okay, so we can even look at a smaller example in here, right? Let's just do it Let's just zoom in here and we'll look at a smaller example. All right Here Momentum Pull back into this area in here. Where did the momentum come in? Okay? Well, it started down here It took a little bit of a breather here and it really picked up here Where did the pullback come to? Right to it Now We're looking for some sort of reaction here. This is where we come in and we read the order flow Okay on this time frame Okay, so And we're looking for a few different things that we always look for Number one is we look for the order book to support it here We're looking for some demand in the order book. We got it Hey, we can see that they kind of pulled in here, but they're adding here We're looking for a lack of sellers And we're looking for more buyers to start to come in Okay, that's part two Part three that we're looking for here is this liquidity to start to pull And they did at the last minute here Okay, so we got some buyers now. This isn't you know The greatest but look at this relative buying here compared to this relative selling volume here There's more buyers Okay, so we're looking for a reaction here. We're looking for buyers We're looking for that order book to support it and we'd look for buyers to take it higher Okay, that's in the last Couple of minutes here Last five five minutes ago. Okay, this happened this example here Is no different than this example here Okay So order flow is completely fractal. It happens on all timeframes Right, so any questions on this? This is a really important point. So when you're doing your higher time frame analysis, I want to debunk all of these Concepts and theories that you read in books Or maybe see gurus on on youtube or you know webinars or whatever That talk about oh, this is the high of the day and this always happens at the high or the low of the day Okay, why does it happen? What were what were the reactions? previous uh to that Okay, understanding this will give you a higher time frame outlook Uh and higher probabilities All right, so just keep these concepts in mind. It is all very very similar here all right, so starting to understand this uh, we can uh, we can we can trade any time frame we want Okay, we have almost unlimited opportunities then Okay, so uh, depending on the time frame That you're looking at okay, there's going to be many more opportunities on those lower time frames clearly Okay, something like what we just covered here in the higher time frame These these this is the only one here right there's maybe another one in here, but you can see Buyers came in and we would look for something also to happen around in here Well, we did get something Here's where we got an order flow flip in here Okay, let's just take a quick look that cluster Okay, from here to here. Okay top to bottom Take it across Hey, we can't make this stuff up It's bouncing off of it here Sellers come through they come through the area. We're looking for buyers in here Right because it was a it was a big day Uh momentum in here We'd look for buyers to take it back up We didn't get them. We got sellers who pushed it through that area and then what was support is now resistance Okay And sellers are now in control. It's below this area here. We get a retest back up to it And we don't get too much clarity until right around in here to be honest Um, we can see it's making let's just zoom in here Okay, you can see that we're getting some buyers that come in relative volume is pretty good Buyers come in Sellers drop it to the bottom of the range buyers come in again They can't make a higher high Buyers come in here. This is not a good sign here seeing buyers down here As the sellers can push it through and really pick up some momentum to the downside All right okay, so Anyway, and where are we going now? Well, we look for the same ideas here Hey back up to this cluster and we're right there right now Okay, maybe a little bit higher. Maybe we'd look for this line in here Okay, right in here And we're just about there Okay, and we have our previous line up here Right, so guys Don't take this stuff for granted. Uh, if you look at high of day, um Low of day, you know Overnight highs and lows etc just because you read it in some sort of book Um, it it it doesn't matter like what uh, uh, it like it's some sort of Um, you know plan that's already handed to you and this is how it is Poke holes in it. Why? Okay, why does that exist? What happens at those areas? Okay, if you start to understand the reaction to other traders in here You are going to have a much higher probable outcome Okay, we happen to have this happen right at the open The cash open and there's a lot of back and forth in here Okay, and look where we are now Okay, now we're testing back up to this swing and we would look for that Hey, and we would look for some sort of reaction to happen up here, too Okay, so let's zoom in and let's take a look Okay, well, what do we see? Well, we still see buyers More buyers hide liquidity here, but it transacted buyers took them on they're still buying What about the order book? Well, the order book is not really on our side here yet for the for uh being bullish here They're but they're bidding but they're bidding uh down here at the bottom of the range Uh, and there's quite a bit of liquidity up here Okay, one large player that has more than half of that liquidity here of 368 contracts there Okay, so a pull back down into this area. It's not out of the question. You would kind of look for that And now now we want to see if do the bulls uh go for it again up here What do we know about this up here? Well, it did auction up here We do see buying up here so we can auction there again So we look for exhaustion here the order book to support it And the order book's not really supporting a little it's a little bit. It's not that great though Okay, so maybe we just kind of go back and forth in here right now All right, so we're not really looking for much Okay, now let's see do it auctioned up here again Okay, we're back here and it's auctioning again. We're finding buyers again Okay, this is really not We don't know Okay, we see we can see look at the offer in here kind of pushing it down into this liquidity here Okay, a skew in the order book and the reaction is sellers All right, so we're we stay away from this kind of activity until we get more clarity When we have that kind of clarity that we're looking for Then uh, we go along with the majority here. All right, so for example, look at this Traded below the range Hey, we have some sellers. We have a stop run here We're getting buyers starting to come back in we're back in the range already Hey, the order book's still not on our side here that we can see liquidity here on the offer We see our buyers are coming back in Let's get a little more on the uh on the bid in here now start there it goes You can see a little bit on the bid see that right there Let me let me just pump this up a little bit here. All right, we'll get to the uh heat map settings in here It's kind of subtle because this guy up here Is blowing it out this guy right if we bring the upper cut off you can see it better now Okay, here's that high liquidity in here. It transacted another bidding up in these areas in here Okay, it was right in here Okay, so and we saw we started to see some of that Uh, and then let's see here. You can see there's a battle going on right now Hey, let's see here though. Uh, let's see if we can get buyers took them on up here I want to see these guys pull If they pull and we get our buyers in here and they're adding here we should come up to This 84 level it more likely to come up to this 84 level And that's our previous uh level up here Okay, now that's just a small example Boy, the order book is on the offer here. Look at that showing that skew on the offer in here And uh is is is keeping these buyers away? And there's a lot of supply here Okay, that that looks pretty clear Okay, so we retest back down here Hey buyers look at the buying interest even in In front of all of this liquidity in here Okay, so now watch this if we get enough buyers in here these guys are going to pull They will probably flip from offer to bid We'll find our buyers and we'll not only reach 84 we'll probably go higher Okay, I'm looking for that scenario here. Here's a little bit of a flip right there. There they are Now let's see these buyers come in And try to get up to 84 here Okay, now this is not a trade recommendation and nor is this really good Uh for a setup here. We're looking for it to unfold But this is this there's too much risk to put on here. You'll be getting in up here and it's not that clear That's not a good Area to if it if it's not that clear then Wait wait until you have a better shot at it Okay, but nonetheless there is a shot here Okay, just uh just going through it and we're going to read the order flow regardless. It's just a lot lower Uh likelihood of trying to gain something out of that I hope that makes sense. Okay filtering out some of these bad ideas in here or it's an idea We look for it Hey, but how good is it? It's not as strong. That's why we grade Uh our setups in here Okay, so we go through uh and we use a check uh setups checklist here Okay, and uh put in criteria How good does it look? What are some of these elements in here? uh You know steep large price movement with strong relative volume Okay, so we will we see that clearly in here on this move to the upside Hey, we look for a low volume pullback Hey, and we look at for it to maybe a cluster down here and we look for the order book To support it Then we look for the move back up. Hey, we didn't get too much in the order book in here. Um I we covered that in real time though. I think we did see a little bit But in real time it was actually easier to read in real time All right, okay, so see how that kept us out of this by Just passing on this it's it we talked about being like a like a hunter Uh and uh, you know save your ammo Wait for a better setup Wait for something that gives you like really good, uh opportunity Uh and um to to pull the trigger What do I mean thirsty? I don't know what I mean thirsty. Um What defines the auction? Hey, well the auction process is with buyers and sellers like any other auction Okay, and this is a two-way auction. Good morning. Uh p cat um This is a two-way auction. Hey, it's not like a an automobile or a painting or a vase or something like that, right? Uh, we have, um Traders, um on both sides here Hold on just a minute guys Just a minute here. I got over to something Okay, look at this look at this change right here Look at the order book here on the on the bid look at the buyers. All right buyers. You're up here Let's see if they can break this Okay The sellers came in immediately and traded right back down here now Um looking again. See if we get our buyers back up here And I would be looking for them to try to break this and then finally finally get up to this 84 here Hey, can they do it? Nope nothing yet Hey, see what we see the shift in change we saw in here though. Okay, so uh anyway And we're looking for it and it didn't didn't pan out. All right, let's see here. Um Yeah, I just want to make sure that I go over this higher time frame And you you guys uh understand this, um You know looking at your levels. I mean we can start to mark them up in in here. Well, here's This is the high of day In fact, let's let's clear our drawings. Okay, this is regular trading hours And we're going to put them in quickly. Here's our high of day so far. Here's our low of day so far Okay, uh, what other lines do we have in here that are important? Okay, well this one here clearly This is where it broke out from Right there. Uh, in fact, let's uh edit that one and we're going to give this one kind of a dotted dashed Now let's go with dotted Okay And can we make that a little bit bigger? Okay. All right All right, so our lines of importance Okay, now again within these areas. There are still opportunities And so we we start to look for them though Uh around around these areas look look at this little cluster in here Okay, we know there's going to be a high volume node in there somewhere Okay, now I'm stuck with this one. Hold on a minute Okay, so and look where the buyers came in. This is exactly what we're looking for before. All right, so Uh, yeah, I'd look for a reaction here. Look for their buyers. Let's see the order book. They're pulling here All right, so now we're just looking for a move back up to about here. That's it Hey to begin with And maybe we can see more buyers Hey, we're looking at the relative volume in here A little bit of a spoof there Pretty indicative of a spoof Hey order book But we've got sellers here. So nothing shaken yet So still nothing Clearly sellers starting to come in they want looks like they want this liquidity here. So That's that's what we know so far Okay, buyers starting to come in And we should get a move back up to the top of the range here now Let's see if we can get our order flow shift order flow meaning the orders It did also the transactions But the the transactions of the orders though. So we're talking about the order book in here. Okay the dome or the You know the depth of market here. All right, so look at this buyers are starting to trade into it here There they are. All right. So now buyers should be able to lift it back up to I would say Probably here, but maybe here if we can get enough buyers here And now right back down to the bottom of the range We didn't have the order book on our side. Okay, so Again my bad on that one All right, so we didn't have the order book on our side. We have this skew here, but we don't really have them bidding up And that's what we want to look for And we want to we want to see that change and that shift in the order book So yeah, my my misread on that one And in fact, it's quite the opposite look at look at them on the offer. Look at our sellers. They trade into that now And let's see where they might be able to take this. All right So if they can trade through this now, then we're looking for our next level. Okay, so not just 76 here Uh, 76 50. Let's look for our line here down at at 76 And uh, let's see if we can go lower than that actually and see if we're going to even push through that level here Nothing yet. All right. Now there there was something that I want to cover in here, too Like uh, we're kind of getting this back and forth in here today. Um You know, we have cpi tomorrow, uh, and uh Maybe we'll just and we had a big move, uh yesterday So maybe today's just kind of a chop and and looking for, uh Smaller opportunities, uh in here Huh interesting. All right. So we went through that level back up to it and get some buyers back in here And let's so well, let's see. Maybe our original idea in here Yeah, look at the order book now guys. Look at that. Okay, so I am now I am looking for this looks much better now This looks much clearer. I'm looking for the move back up into Uh, this 82 and a half 83 level And that's what's up there. Okay. Well, it's our 84 level as well Okay, so let's see if we can get our buyers in here And so that's a bit of a flip-flop Okay, because the sellers, um, I thought they I thought they'd take it through Hey, all they do is test the bottom of this here though Huh, it's gonna be one of those days. All right. Um So even the buyers that they can't get back up there That we're back in the middle of the range here Boy, it's pretty dark in here Not seeing much in the current book Nor a recent historical book here To give us some insight Thanks, Doug. Uh es, uh 47 82 is giving us some resistance at the moment Okay on the higher time frame, uh levels your spx so, uh guys if Uh You're not aware, uh Doug plus has a a webinar that's um Based off of order flow and options. It's excellent. Uh, it's at 130 Uh, Doug's got his own proprietary way of trading which, uh, I think you'll find extremely Uh helpful and interesting Uh, I would encourage you to go check it out Really, it's not lip service. I mean it is a it's a great strategy That Doug has All right guys, so not a whole lot happening back and forth in here. Um Okay, here's something on the uh on the they just pulled Yeah, we're looking at a pretty choppy day here. Uh, you know again like, uh Let's just take this concept in here On what's happening right now. We're between a range Okay in this time frame here this range All right, and we're kind of just bouncing back and forth within this range where the buyers came in down here and moved it on up Okay sellers are actually Up here and we're looking to to to bust through that area here. We're looking for our buyers And now, uh, so this is This is like your your daily high Or a previous day high Okay, so what's going on up here? What what is it telling us up here? All right. Well, we had buyer we have buyers up here The order book is on the bid here and they're they're still on the offer though and how many buyers did we get here? And not a whole lot Right, so it's just kind of peeked above this area here and it's back into the range Okay, this concept here is no different than if you're looking at your previous days high Okay, so would you be interested in taking the breakout trade up here on previous day high if you see this kind of Ah, there's a little bit of uh, you know buying but not a whole lot relative You want we want to see this really strong buying up here And no we wouldn't right instead. We see the strong selling come back in here They back into the range take it right back down into the range in here okay, so This this concept we can see it right here in front of us on this time frame Therefore you can trade on a lower time frame like this You don't have to wait around all day for this now now look at the the buying up here Is this a stop run? No All right. I'm looking for a breakout now Okay, so we're getting our buyers up here. Uh, we're up here at 82 already Okay, and that's where it dropped from. I'm still looking for more buyers here Okay, our relative volume looks good. Okay, we may get a pull back to 80 or 81 here Okay, and then we'll look at an assess here. Okay, how does this volume look compared to this? Okay, where the buyer is able to move it away here successfully Well, we're right back down here and this volume is looking pretty pretty strong too On that sell side. Okay now that's before that happened there Okay, so this volume here Is is looking pretty equal to it here. Uh, except for this big spike here Right, so I would look for buyers to support it here And that would be the first scenario to look for Uh, and then we look for buyers to come back up to the top and then break out again Right, so now you can see it's been gained here. It kind of went through it We're back up again. We're finding our buyers though And we're it's kind of convoluted here. We we see the uh heavy liquidity now sellers at 82 Okay, but look at the buyers interested in taking it on Okay, so let's see now We're going to see if we get enough of this buying pressure to trade away from This previous high in here Okay, they're starting to mount their attack Okay, what do we have in the order book? Well, it's not looking good in the order book All right, so this is not looking like a high probability setup We have high liquidity here Hey, we buyers are interested. It looks like okay, they traded into it and they're still hanging out up here Let's let's look at the the bid now. What is the bid telling us? Well, they're starting a bid up a little bit on here Okay, now we're getting a little bit of buying interest. Okay All right, so I'd be I would look for the buyers to start to transact here and then trade right back up into 82 now Okay, and if they can really mount the attack here at 82, they should be able to trade through it and back up to 84 Okay, well, we're not getting in those buyers Okay, bid still looks good down here. Bid was looking really good in here Okay, all the way back down And let's see if we get another attack here now. We're really all over the place today relative volume here And then relative volume in here Okay, so Really, uh kind of a tough read in here as you guys can see Okay, it's uh kind of kind of right here is this pivot line above or below Okay, so now let's see if we can get a little bit more buying back up above And re attack up into this 82 and then to 84 Now as Doug said, there's a lot of option interest up there Okay, and you can see that there's also a lot of resistance here A lot of supply That doesn't matter if there's enough buyers that want to take it on And we found them. We just found them All right, so now let's look for the order book I'm going to go ahead and support it And that now they're up here the buy or the sellers are up here This is the auction process So I don't like it because the order the bids are down here And I can also see a stack here on the on the offer in here So, you know not looking for it right now Okay, so it's just that there's more supply here than there is demand And we see if we see the the aggressor is going along with this supply here On the sell side we look for the move back down to here It really that's it that is the basis of the of the auction process But you're really on to something Doug. I mean these guys are pretty relentless in here Around this 82 level There's a lot of resistance up here Yeah, we can take a look at gold When I say high probability BAP, I should probably not use those words More likely I should probably say Due to the order flow higher higher likelihood because I don't have numbers on it That's exactly the starting point for you guys And that's what these webinars are for is to kind of stimulate ideas to go and study And that's why we cover We try to cover all markets. We try to cover many different ways of trading Hey, we talk about volume profile. We talk about, you know patterns. We talk about You know trend lines Talk about market profile A VWAP a lot of different things All right I'm getting kind of tired of the back and forth in here. I wanted to cover something with you guys um And we covered this higher time frame concept in here Now this this line here only relates to today's action. So these two lines though Well, this line also is the these two are the highs and lows here the the ones that We talked about earlier was this range in here And then something happening in here could be the top here that it might be it might be in the middle here It might be at the bottom of this range, but something in this range And that's a big area Right, but we're looking for something In there. We're looking for profit taking By the by the sellers trading into this area because they don't want to fight all this You know momentum there might be more buyers in here That want to reload back here. This is a deal a discount This is where they might be supporting this move to the upside Okay, so we're looking for something to occur in here now In this case, it kind of bashed around here at the open A little bit of volatility at the open and then we see the move back up to these areas Right, so that's what did unfold here right, so now The Ah, there could have been another scenario though And that's why we want to go through these scenarios and we want to look at the players here to tell us What's going on in here? Okay, so for example Maybe the players told us in here That well, we didn't find many buyers If this big green dot wasn't here. This is what kind of You see how it's above this kind of pivot area in here And if I zoom in it won't be one big green dot, but you can see trading a lot of buying in here Hey, all the way back down went all the way back up It actually broke it here came all the way back down and then all the way back up and we found buyers again Hey, so Great, so we're finding buyers back up above this line here and is back up above this area here as well And where we're looking for some sort of reaction Okay, and that is now it's more likely if we get buyers back up here in this area auctioning here Likely we'll get a price markup into a previous area That we would look for Same concept Previous area here Take it across Previous area in here Take it across Hey What i'm getting at in here about your your higher time frames your open high low and close Uh, you know, there's going to be reactions around those areas. They're sensitive There's a lot of trading activity around there and you usually and typically get volatility It is to be expected Okay, and something's going to happen up in that area and we look for the order flow to give us An edge all right, let's uh So was I talking about higher probability and a range breakout? Yeah, I mean, you know, it's the same concepts That we can even take a look at this this one here Um A lot of trading activity and auctioning up in these areas in here They especially at the highs And especially buyers at the highs Uh, and if you can get more Likely you're going to get some sort of price exploration above that area Okay More more likely You really want to look at gold. Okay, we'll plug in gold here, uh, but Uh, no no problem. It's just the current contract is Okay, a lot of open interest starting to be pulled from it, but uh, that's fine And it's still by far by far the biggest april would be the next one Okay, just by based off of uh, CME specs here Uh, open open volume or a volume in open interest here Okay, see see that the change here 28 000 over to 16 000 minus 28 000 to 16 000 plus to to april Okay, so that'll shift at some point uh in a Probably next week Boy, nothing clear in gold right now Nice big spike to the upside It moves it right, you know price moves right back down. Uh, look at the order flow in here And here and here and here so a lot of volatility at this area here This is important area, uh right here and you can see who won the battle Okay, does that make sense in the analysis here? Okay, so, uh, you you we have this move through pretty pretty Important move here as well. Okay, so let's mark up our lines Okay, right here, uh, and then uh right in here, uh as well Now look who won the battle there sellers coming in here Back down to this range and then through that range Okay, so sellers in control now All right, so uh, uh that much we kind of know and we look for the move back down to the swing here All right looking for the sellers to test this swing here all right All right, and then there's liquidity down below it here around 37 All right, let's take a quick look at the order book What's the bid and the offer look like here? We see that the sellers still in control Still moving this Uh, this is this will this is a nice segue into what what I want to cover next Okay, so with rob we talked about this yesterday trying to understand and gain something out of all of this in here Hey, well we're leaning on and the kind of um What we do know is there's more selling in here and they're able to make lower lows and on more sell volume So we're going to go sell side and we're looking for the move back down to the bottom of the uh, Low of the day here Okay, so this level here at 37 Uh 37 and a half I should say All right, so that's what we're kind of using here Uh as our um You know something to rely on If we're relying on these sellers in here, they're moving the market and there's more sellers in this time frame than there are buyers Okay, so we don't have to fight them We want to go with them All right, that concept is really important to understand Because you start to see some buying coming back in here Right, but uh, it's it's not enough All it did was come back to the top of this little range in here and then the sellers come in and move it Right So that that concept we went through um yesterday as it continued to go higher As well Okay, so now look at this we get some buying coming in Right, but we're still we're still relying on these sellers in here now. How much can we rely on them? Okay in this move in here How good does it look? Well Look at the relative volume in here this compared to this Compared to this and also compared to this Right, so all of a sudden we get some buyers coming in now our level has been hit Okay, take some profit right Make sense. Here's where we opened uh the The chart here's where we're looking for the sellers to come in Somewhere around in here and move it back down lower Right and take some profit Right now move your stop to break even Uh, or take all your profit and look for the next setup So right now We talked about this yesterday as well Hit singles build confidence Hey, don't worry about your profit and loss. You know, you'll probably be break even uh to be honest, but that's not bad um you Well, I shouldn't say we probably should you'll probably be break even uh if you are If you learn to now there there you take your your full profit All right, if the market gives you that and that is way out of range here Okay Way out of range. So you took some here and you take some You know, it it happened really quickly. Uh, and then it you probably would have gotten out here you know probably Uh 36 and let's just say 36 and a half All right, so that's another dollar that you could have added to it Right, so you were in let's suppose. Let's just say up here. Let's just you know Yeah, we were looking for the break, but let's just say you're in at I'd love to say 38 and a half because then it would make it even so that's two bucks. So you made About let's say you made a buck on one and a buck on the other leg or two bucks on the other leg All right, so you made, you know, three dollars all together All right, and then you have to reassess at that point Okay ES01 uh makes sense Right now again Look, I don't know how helpful that is I'll be really honest This is what you need to go back and study now Okay, and and go through these processes go through these scenarios read this lean on and rely on the activity in the in the Transactions market structure and order flow to give you that insight that this may happen to hear Just that and hit the single All right now here you hit a double and maybe it may be even a triple Uh, you didn't get much size on though. So, you know, you you don't get that much out of it the the The point is hit singles get build confidence Um and continue to do that Okay, then you can start to um Get into the trade management and and really Uh really leverage it Okay, and I hope you'll find that Um, or you should find that very profitable Okay, this is going to be mildly profitable Uh, you're just hitting singles. You're just you're just learning you're but you're gaining Okay, uh, and then once you start to understand that you have an edge You've gone through many of these and it won't take that long You know a few weeks of of uh Testing one strategy and you you'll have several instances at that point Uh Now you can start to look at maybe some trade management Now it's not that easy and it might take a while. Uh, you can also use book map replay mode Uh to build that trading plan out for yourself and that strategy Okay, uh and um Whatever it might be so Yeah, use that replay mode go through here start to look for and mark up your charts now Uh eso one. Let me let me show you something that we've developed here from book map Hey, we're gonna have a meeting on thursday. It's the book map academy All right, so go to book map.com. Click on the more button and under community go to book map academy Uh, and uh, you can journalize exactly what i'm just talking about right now. So I encourage you highly encourage you to partake Okay, get book map Try it for a month Uh go through and apply for this academy Um, we're gonna go and coach your trades and give you some uh some mentoring Um on your uh spreadsheet you will document your trades You'll put them into discord or on social media Uh and uh, you know take a screenshot of it and and mark it up Exactly the points that I just talked about might be an example Okay, and uh, you know say that uh, you know, you're you're leaning on And relying on these sellers in here not enough buyers in here sellers start to come in again You're looking for the move lower Okay, and then uh that that's it Okay, so a few markups in here know what you're looking for you're gonna get much better Hey, and we offer this pathway for you guys. Not only is it a pathway for the mentorship You can get book map for free Hey, we're willing to do this uh Document your content, uh, and you will get book map for free if you Make the thresholds and the quotas Hey, so the first step is that you join Or you apply to join the book map junior academy Okay, now, uh once you apply you start you get your spreadsheet You'll come into our discord channel and you'll uh inquire or ask for a spreadsheet Let me show you where you go Uh, you'll go here In the book map academy Hey, just uh, you'll we'll see it in here Okay, just scroll down a little bit See this one here book map or the academy applicants. That's where you'll go You'll get an email and it'll tell you to go here So go here And you'll see people in here. Hi guys. I'm new. I you know, I'm requesting my spreadsheet Okay, that's what this room is for All right and uh questions or you know, uh some back and forth uh, and then After that, uh, you can jump over to the book map academy Uh, and look at this like here's crash going through uh crash f16 He's got his own way of trading his own proprietary way of trading using book map and market pulse Uh, and uh, look at the detail in here uh now You know crashes is is rather special in here Uh, he he goes through any and he puts he puts in tremendous effort Like, uh, he's documenting these things every day, but his habit for him Uh, he knows what he's looking for he documents it he Uh, he trades it Uh, and he he's learning from this. It's not it's not for us. It's for you guys Uh, it's to communicate it to others so you can learn from each other right, so uh Then he he's By trying to Clarify it in uh the documentation here Uh, it will help you tremendously It should if it's not then don't take really seriously don't partake in the program If this doesn't help you then we don't want you All right, uh, we want this to help you. That's the number one factor in here Okay, and then you start to see these things, uh, and you can you can take advantage of some of these moves in here Uh, you'll you'll start to develop your own trading strategy Okay, some of these concepts will resonate with you. Um one way or another All right, and you look for it now since gold is down I imagine s and p is down quite a bit as well And it is not okay. It just came back down to our level here and it's bounced Okay, so we got this that correlation is um Uh, we're seeing the opposite now Okay, so they were correlated before but now they are Disconnecting here in that correlation Okay, now guys look at this momentum move here Great. All right. Well, we know there's we found our buyers and we're back up here Get this 82 level. All right, so let's see. Let's read the order flow in here same process Okay, do we get the the buyers we're looking for up here? Yeah, they're up here The order flow though is not not on our side quite yet. We don't want to see them pull We don't want to see them add here Uh, and um, uh, you see the sellers come right back in and we're we're at the bottom of the range here Okay, we'd look for a reaction down here though And a pullback maybe to right back to 80 and three quarters 81 Let's see if we can get it Same process Exhaustion. Okay, what does the bid look like? Hmm. It's okay. Not bad. There. There's a little bit now. Do we get buyers? There they are. They are. All right. So let's see. Can we get a little bit more? Can they pull here and then we come right we can go right up to 81? Okay, not bad Uh, maybe 81 is a little out of the question. I mean see this little cluster see the move one pull back or Kind of pause and move two Okay, so this would be your higher probability It's done it it went to 81 Okay, uh, but now let's take a look here. This is looking good Hey, we're starting to see more buyers coming in. That's the you know one thing Now do we have the order book on our side? No, not really Uh, they're starting to pull a little bit here. That's good But I want to see them on the bid at a higher level Else we're going to get a likely get a move right back down Right same process Okay, it's starting to look good though and we're going to look for something to happen here We get a skew in the auction here on the bid And we get our buyers in here. These guys will likely pull and get out of the way Doug your your your higher time frame level. They're still in here in the order book On your options level I'm looking for these buyers to at least Take them on and and try to trade into them Okay, because we've auctioned up here a bunch of times now And this is pretty strong volume It's it's taking its time here, but let's see if we can get up there. All right Yeah, it's free. Um that this book map academy thing is free You just need to have book map, of course because how else are you going to document your trades? And that's it here. They're just scroll down here. Uh, you'll see this is where you apply We're not looking for much But you also need to apply to Um or request for your spreadsheet in The discord room Hey, how much does it cost completely free? Okay All right All right, any questions on this I kind of wanted to cover higher time frame stuff and make that Uh transition Uh into smaller time frames Okay, so again, you know, here's yesterday's uh action here Hey, all of it, uh from the regular trading hour session Here's here's 9 30 here Somewhere around in here And here's the close up here Okay Okay, so this we're within all of that range in here Hey, this is it's clearly an inside day And usually inside days are pretty choppy Okay, so you're not really looking for Too much, but what you can still do Uh, you don't have to Um limit yourself to the um Let me just do this again here It's the same concepts in here. So you don't have to limit yourself to These swings from the previous day and say well it's an inside day. I'm not going to do anything You can look at some of these other clusters and other areas of interest in here by understanding the Transactions and the order flow in the auction process Okay, and it will help you Okay, uh, and then hit singles get good at it do it again and again and again Uh and uh build your edge All right now we're going to transition to something else Hey after building your edge Okay, I'm going to turn on I have some orders here. I wanted to go through Uh, not the best uh Stuff in here, uh, but there's something in here that uh donkey face was talking about yesterday and I wanted to cover that All right, there's a lot of orders in here Um, so and let me come back to the heat map and restore it. There we go. All right, so um Let's see What was I looking for all right, so I know even at these lower levels in here Um, I know from my higher timeframe. I'm looking for a move back into this zone in here All right, this was my assessment for these uh for the pre-market today All right, so let me just I'll quickly go through this process. We're trending down and clearly Clearly the sellers are in control Okay, you you can see it in the in the um in the transactions All right, uh, you can see it in the order flow as well. They're trading into this high order flow here On the bid uh into here as well They're on the offer in these areas in here and we're just not getting enough buyers All right, so I am not looking for a reversal in here I'm looking for more sellers to come in and take it take it back down even though this trend is pretty developed You know, it's moved many times here Right, I want to go with and lean on and rely on these sellers to continue to sell Unless I see something different Okay, so uh, I sold in you can see I put in A a sell in here, but I cancelled it. I got in here. I saw the sellers at the top of this little range in here I saw the selling starting to come in here All right, I'm looking for the drop Right now it got one one more move back up immediately against me Uh, and then it came back down. This is gonna happen Right. In fact, it could have come up to here. I could have looked for a better option Uh of entry up into here And this was enough for me. Uh, and uh, I'm looking for getting in Uh, and then what happened? Well, I have my take profit. I'm just looking for the bottom of the range Right. Uh, that's it. Uh, and uh, and take some off here Uh, and I moved my stop down to um A little less than break even or yeah, so this was a loss here of uh, just one tick And that's it So this was basically a scratch Saw it again. I I saw the order flowing here Okay, so uh on the offer here on the offer here buyers take them on but sellers I'm still relying in the bigger picture here on all of this selling in here Rob, this is what I was talking about You might not see something in here But you're relying on all of this in here. And in fact, this is actually kind of a Um, not a very good example to be honest It would there's a there's a quite a bit of buying in here too. So, you know, this could have gone You know against me Right, but I'm still you can still make the point though at least Like I I wouldn't recommend I don't think it's very good trading in here to be honest Um, that uh, you're still looking for this. We are still looking for the move lower Uh, but the likelihood of it is less when you start to see that buying pick up in here All right, so I got in again, uh, it, um No, where did I get in? I got in again here. This one started to go for me immediately Uh, and it broke the swing, uh and continued on down and I'm looking for a move into I think it was a 71 down here Yeah, 71 and a quarter or something like that I moved my stop down. I see these sellers come in again. Okay. This was my position It went against me a bit Uh went for me a bit went against me a bit. It's kind of sloppy It's it's pre-market. I see the selling coming in again. Great. All right. I'm moving my stop at this point Uh, and I get stopped out at break even plus one here. So again another scratch. Okay scratch for the day All right now This is where it gets a little wild in here And uh, uh, I I see the move back down into this range And I see the move back up and I I buy here Okay, I would I what did I have here? Well, I have trap volume. I'm in my higher time frame range Okay, it's the open uh the cash open right here Uh, so now I'm looking for the breakout Above this area in here because I I'm looking for these guys to be trapped. I see the buying coming in Uh, and I'm I'm waiting and watching for it to pick up in here. Okay. It did pick up in here Okay, but uh, not very much And it came right back down It came back down to this cluster and bounced around a little bit and then it hit my stop here Okay full stop out All right, I started to see that buying coming in again All right, so now I'm seeing that there's order flow down here on the bid. There's some there's uh, some demand Uh sellers take it on but I'm seeing buyers back again And then I added in again here Okay, and I saw them pulling in here and I saw this book on my side as well. I added in again I'm building a position in here now. This is more advanced all right, so These are small positions, but I'm I'm building it Okay, looking for it looking for it. I see the buying in here sellers come in. I get a full stop out again All right, so Uh, not not off to a good start Right is looking for now. There's a couple things to take away from this and reflect on number one Okay, the most important thing is Now i'm not relying on these sellers I'm looking for a reversal It's going to take a while. There's going to be chop back and forth Okay, so now I'm I'm looking for the momentum in the morning here at the cash open to to move this for me instead All right, so I was willing to take the risk All right, reversals are hard. This happens a lot. There's a lot of back and forth Okay, so let's again go over that because it's this here that I'm looking at on a higher time frame And I'm looking for a reaction to happen here And I'm looking for those buyers To start or you know to come in or at least profit taking on the sell side And then move that higher All right, so So I start building position I get stopped out again All right now I got one more opportunity in here Okay sellers come in and really move it back down to the bottom of my of that range in here Okay, so now I'm willing to Trade it back into I I'm looking for I know the sellers are are strong here But I'm looking for the buyers now to take this back into The um, this is like a mean reversion basically Okay back into where it came from Because we're at a bottom of a higher time frame range And I added in again in here Okay, it's not really adding it is adding to a loser technically Uh, I saw that the buying coming in again though. I'm looking for it. Okay Went against me a bit then they really came in I started to bring my stop down. I did not get um Uh hit here. I did not take my my take profit. I'm sorry I moved my take profit down and you can see it came to the tick didn't get filled all right, so Then I started to move these around a little bit based on what I saw in the order floor I started to manage it differently in here Okay, so let me know if you have any questions on this Um, when you get into the trade management, we're going to do more and more about this now This is this is more advanced. Like I said, we're not hitting singles here Okay, so maybe maybe I'll stop doing this actually Uh, you you guys tell me You know if uh, if you want me to uh, if this is becoming confusing Okay, uh, you know someone like um crash f16 for example, uh, he is um Uh managing his position, uh with many Many small positions. Okay with micros Uh, and this is a good way to do it So first off start to hit your singles start to build your confidence When you know you have something then you can start to manage it differently So for example, uh Crash is looking for like something like this and to clean everything out to it to be a stop run He's looking for his market pulse. Maybe he has a cvd. Maybe it's a higher time frame level Uh, etc. He's willing to put some on He's willing to take a small loss on some but he's he's gonna add in when it starts to go into his favor as well And he's gonna really knock it out of the park All right, so let's just leave it at that That you know managing this, uh, this is where you can really start to Uh leverage Your position And get a lot more out of it. Okay, but you first have to have your edge Then the management here is where you're going to leverage it Anyway, uh, so let's see. I I'm still in this it's going against me or it's coming back down to my Somewhere around my breakeven here, uh, but I'm I'm now relying on these new buyers coming in here Okay, so we get some back and forth in here. Uh, we do get the breakout. I I move my stop from here or my take profit from here Uh, I did a bunch of things. Um, and I got uh some filled here, but then this one here I decided to move it back up Okay into uh this level up here because I'm thinking That now we're at our higher time frame level. We've had this back and forth in here Sellers came in and now I'm looking for the move back up to the top of this range here Right because I'm in my higher time frame level I see the huge stop run into that level And I'm finding new buyers now Okay new buyers Uh, and uh, I'm looking for these, um buyers to trade it back up here because I know It auctioned up here before I was looking for it earlier and I got stopped out I know that they can return back to here All right, so that's where I'm going to take my profit partial profits in here And that's what I did. You can see I had another partial profit here and it didn't get filled Right, uh, what happened on that one is I got I got taken out here on my stop. I I Boy, what did I do on this one? Well, it's it's definitely related to this one. Ah, yeah here. I think that this order here. I just uh, Um, I took the profit on it. That was that and so, uh, anyway, um I'm still in though. I believe or was I not no, that was it. That was that was that's all I did Uh, was trade it back up to the top of this range. Uh, and um Uh, and then uh, this was my my last leg here. Uh, yeah, this was my decision in here, right? So, uh, trades back down to it We got a peak kind of above the range is back into the range and I see the selling coming in here. I'm out All right I'll look for the next opportunity And you can see there's many opportunities. There's another one up here. Okay, it gets back above these guys up here Uh, these sellers and then here's where we got our break Okay, so our break let's just talk about this briefly is because we have here Lots of buying Okay, we have a break of it Okay, still lots of buying though up here and we're coming back in here And we see strong buy volume all the way through down here A strong buy volume in here as well strong buy volume in here and here now all of this in here is is um Kind of meaningless If there's no higher time frame level Okay, the higher time frame level is key for this one Because i'm looking for a reaction in this higher time frame right, so What's the takeaway here? What can you what can you take home here? With this mark up your higher time frame levels And then you're looking for a reaction in some of those areas And then you're looking for us this shift in order flow in some of these areas in here All right, don't be afraid to take your loss Uh, and uh Then hit singles, but uh, you can also start to Look for scaling in and scaling out of some of these positions here build a position Okay, and then make sure you have your edge though and you know what you're looking for And they look for that continuation All right, so higher time frame levels and order flow around those higher time frame levels Hey the order flow on the smaller time frame levels Hey, many of the concepts that we talked about I hope that helps Right, there's one more thing I wanted to mention before you know, we got into all of this in building a position and blah blah um Is this move to the downside here? I think I saw uh Donkey face was mentioning like oh, I hate the the grind up It's hard. It is hard. Uh, you know, it's not it's not easy um We've seen it many many times over and covered it in these webinars And the grind up for example It the the important part though is to go with the Uh, the the winners here, you know, who's who's controlling that market? All right, and look for pullbacks into these clusters Look, this is a good example here. I think we we know this is at one or two o'clock yesterday break out pullback support here At the area it broke out from Don't know yet until we get back up here and start to see buyers in here And then we'd look for this follow through Can you look for the order book to support it as well? Uh, and they did they did come in here And and uh, these guys did stay in here, uh, but enough buying to try to write into it and through it All right, so just stick with it look for small pullbacks Uh and manage your position you could have gotten in and out of this all day Or you could have built a position in this all day Okay, um and Let's go back here and For example This one was a little too late Uh, maybe I got a little too kind of cheeky with it here like uh, the Um this move here It's already trended down pretty dang close to my higher time frame level But I'm not looking for reversal. I'm not going to fight it. I'm looking for these sellers And I'm looking for them to continue on into my zone And I took a couple scratches in here Right now there's this this is kind of kicks off a whole another discussion About management in these kinds of moves in here Uh, you know, I got in here, um, and it you know went against me a little bit But uh, you know probably would have been better in hindsight here To look for a pullback to maybe this area here Hey, because You know, it starts to slow down and you start to see more buyers starting to come in Uh, and that's how you get kind of rounded bottoms, right? Uh that uh, basically you'll get um You know the the steeper move Uh and um And then small pullback You know steeper move small pullback You know, maybe a little less move Okay, bigger pullback Okay, not not so steep of a move or big of a move Bigger pullback Now kind of equal move Equal move Maybe a less Of a of a a move to the downside or maybe equal again and then maybe a break a pullback again Okay, and then uh, you're looking for your um higher low in here And then this is where you can get this kind of a breakout move Now this is why head and shoulders work Okay, uh, you get rounded bottoms, uh like this Okay, it starts with understanding the order flow in the and the transactions All right, so in here I wouldn't have gotten filled here Um, I would have gotten filled here though on this one on this pullback Uh, and then uh, you know, maybe uh, I can look for maybe my my targets a little too high I'm I was looking for a A kind of capitulation into the my level here. That's what I thought was gonna happen All right, and I didn't get that Okay, so I took a scratch instead Maybe that's a little too high or lofty in pre-market Okay, so uh, some ideas in here to consider All right, and we certainly got the the move through it, uh and in the cash open And that would be and you know also trading a little too too close. Maybe to the cash open And that uh, there's going to be kind of uh Yeah, not we're not going to get that kind of follow through unnecessarily All right, so some thoughts in here Uh, I hope that uh was helpful for you guys Now guys, if you like this, please hit that like button Uh, really appreciate that We'll go through uh more and more order flow Uh, based on what you like Um, so actually we'll put a We don't have time today. Um, but um If you want us to continue to go through the Trade management in here Or just hit singles Let me know So that we can cover this kind of information for you All right See any questions in Discord Hold on a minute There we go. There's crash Also, you know another thing too, uh guys and and and rob as well like, uh, you know Crash is uh, he's looking at um Uh, you know these these really big moves through an area uh, and um You know, then he's um And he's got the s and p up. Oh, no, he's got the nasdaq over here So he's looking also a correlation here s and p and nasdaq. He's trading the nasdaq Hey, and he's looking at Uh market polls from book map in here To give him an edge. Okay, so an extreme reading in here or and You know with all these kind of confluences that he's looking for Uh, he's looking for his extreme reading Right this market for the nasdaq Uh, e-mini works better Than the s and p probably Uh, you know, he's he's probably found and I don't know you tell us, uh, I'm I'm just assuming this or speculating crash, uh, but um the um Uh, the nasdaq you'll get these extreme moves and you'll get this really extreme move right back very quickly Okay, so Understand, you know Understand your markets and your strategy. Maybe you're you're trading the wrong strategy um Or the right Or the wrong strategy in the wrong market, you know, so I try to match the market behavior With the strategy that you're you're, um, you're trading I think you'll get a lot more out of it All right guys, anyway, uh, I think that's uh, that's it for now Let's see. We'll have our uh book map academy, uh mentorship meeting on, um On thursday at market close. Okay, we're gonna we're gonna try it's gonna be a lot of effort, uh Guys, but uh, uh, you guys have requested it. So we thought we'd we'd try it this quarter To see if we can do this every uh thursday at market close. So it'll be on youtube But I would encourage you to join and come into the A book map academy a room. We do open the mic so you guys can speak and we can give you guys feedback as well All right, so consider it come on in It's free like I said you if you want to start marking up your charts though You will need to have book map And guys look at this nice move in here in this s and p You know, you just we saw this back and forth and you know, it took a while in here But now in hindsight You know, you can see like our line in here that we had drawn was important. We knew it And uh, look at the bounce off of it here and then buyers back up into here and a beautiful breakout up into Uh 47 90 Okay, so buyers are now back in control right again as a recap all of this in here And let me just take the heat map off for now and orbs off for now Okay, all of this in here Uh on this move to the downside now a lot of drawings in here, uh, but I want to keep these two lines um the We were looking for a reaction here due to the higher time frame here And it's not the higher low of the day It is this action in here and the reaction of buyers yesterday In here that made us think that something's going to happen down here today And we're going to we're going to uh, uh, take a position around that Look for our scenarios. Uh, look for the order flow And uh, you know, maybe if you're looking at your higher time frame you'd be getting out maybe at this swing up at 85 Maybe up here at 89 or maybe you're looking for a complete move all the way back up to high of the day here Okay, or the close which I think was uh about 48 Just a tick or two below 4800 Okay, so uh, maybe that's where it's going today All right, and if you're looking for trading on that higher time frame you would just stay in this It's looking pretty good so far I'm seeing a lot of buyers come in now. We're going to get pullbacks And you probably get a pullback to 85 in here and then look for that continuation All right guys. Thanks for coming everybody. We'll catch up to you on friday Uh, but that's that's it for today. Uh tomorrow we have j trader At 10 a.m. And then scoppelsini at 10 a.m. On thursday Right, uh, and again, uh Go check out dugs if it dugs in here and he's putting in these spx options levels in here If you want more information on that Then go to dugs, uh A webinar dug curious to see what you say actually because uh, you can see that we've traded now through that level Right that 82 level we knew there were some more buying pressure still in here Uh, and now we're above it. So that resistance is now support, right? Anyway, I'll let you take take it from there. Okay. Thank you everybody for coming. We'll catch up with you on friday