 Hello traders. Good morning on this rather somber day today. Welcome to the Live Advanced Bookmap webinar. Today we're joined by Scott Pulsini, a professional futures trader. We do this every Thursday, 10am Eastern time. Usually Bruce, our lead bookmap educator, hosts these, but today he's away all this week. So I'll be helping out with Scott. Scott has an incredible amount of experience and will be taking us through some live analysis, providing us with a rare opportunity to observe how he looks at the futures markets, which could be on the move today. Just a few things to take care of before we dive in. I've pasted Scott's contact information in the hashtag advanced webinar text channel for you. You can find out more about Scott on his website, www.ScottPulsiniTrader.com You can also connect with him on Twitter, www.ScottPulsiniTR1 General disclosure just to go through here. All bookmap limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Live trading is in simulation demo paper trading mode and is strictly for educational purposes. Live trading executed in simulation cannot accurately represent realistic trading performance. And the risk disclosure. Trading futures, equities and digital currencies involve substantial risk of loss and is not suitable for all investors. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Okay Scott, are you here? I see you in the chat. Scott, can you hear me? Hi, yes, I hear you. How are you? Good, how are you? Little muffled. I'm a little muffled? You're a little muffled here right now. Kruhe-Eisberg-Cell-Ciel. 150 contracts. I'll let you take it away then. I've got one request for you. Don't quiz me on any movie quotes. I've seen how you like to keep Bruce on his toes. Yeah, I won't do that to you. I actually found your opening comment on the markets could be on the move today. I was hoping that was a joke. Yeah, they're definitely on the move. I almost didn't do the webinar today just because this is not a real... I mean, you guys come out from my trades, but it's going to be real hard to teach in this kind of environment. There is a lot of stuff going on, obviously. I'll do my... So, just again, bear with me. I was going to just cancel this webinar because there's... If you're making a mistake like yesterday, for instance, I got long NQ at the open. I was drawing the zones, backs the days of Klee, and the market news headline hit, of course, and it sold off like 80 points in five seconds, and I couldn't even get my stop in. It was a huge loser for no reason. So, when I tell my room, my trade room is, you know, obviously headlines abound. I was even thinking that I'm like, okay, well, now that they invaded, the headlines aren't going to be that, like market moving, you know, because before there's so much uncertainty whether they're going to invade, but they're still like just a little bit ago. The Chernobyl nuclear waste may be disrupted with all the heavy fighting like stuff like that is still coming out. So, what I tell my room is, you know, you either accept the risks when you put on trades. I mean, the volume is the volume, and that's what I'm trading off of, but anything could come out and it could just completely ignore areas, mudwood levels, volume areas, right? So, it's either you don't trade these markets or you accept the risk. It's one of the two. And if you are trading them, you better cut down your size because it's very volatile. For instance, like the average five and average two range for, yes, right now was 13 points. So, speaking of which, I will short this on a retest of the zone. So, this was some cellites here. We had some big cellites right at the open. I actually was long when I tried to short and I lost that. I made money on the long, lost money on the short. We'll go over this here in a second. But there was some major ice, cellites here that came in. See, it was close to 2,000. That was this black zone. You can't see the top of this. That was right here. And then we had this, which was a double whammy. That's the blue zone. And we had a move away, ATR move away retest fail. I shorted it. Oh, no, I'm sorry. This is where I exited my long. And then I got short here and then I got stopped out right here. So, basically even on those trades. But I'm looking for a retest and the cellites came in right here. You see another 1,1100, 1,200. Now I'm looking for a retest. We got an ATR away. Here's your retest right here. So, this was 49 down to 33. Yeah, that was an ATR. So, the way I trade these right now, we're above the yellow lugs. So, any bearish setups, I look for full ATR retest fail. And I'll get in three quarter or 80% of an ATR. We still haven't retested that. So, I won't take this yet. I want to see this retest this zone then fail. Then I'll try a short here. Again, this is very touch and go trading right now. And very risky. And very, very volatile. So, I'm going to actually. So, it'd be nice. He has 159 contracts. Like wheat was limin' up overnight. I don't even know what the parameters are on that right now. I don't know what limit up even is. It used to be like 50 cents, but I don't know if that's the case. If anybody knows, throw it in the room. I'll be watching the chat too when I get a chance if it slows down here, which it probably won't. So, again, this is going to be more just trading because I don't really, the teaching moments are going to be probably few and far in between with this kind of volatility, but I'll do my best. All right. So, again, I'm waiting for a retest of the zone. Then if we move 80% of an ATR, which is 10 and a half points, I will short this and my stop goes 10 and a half points above there. Again, you want to be using some kind of risk control. So, basically, you know, just for the stop, my entry in the stop, that's 21 points right there. The size of the zone is another 10 points. That's 30 points of risk to put on a trade here on the short side. So, if you go here and check out 30 points, yeah, I could put on a whopping one lot in the ES based on the volatility, but it is what it is, right? And it's things moving, you know, 1,500 points at a time. So, overnight it was anyway. So, you've got to adjust your size for the volatility and you will blow out your account. You may get lucky for a while, but you will end up taking it on a chin on one of your trades. So, that's very, very important. So, I'm basically trading the one guy right here off of this setup. So, again, I'm waiting for a retest of this black zone here. There you go. The ATR is up to 14. That's now 11 and a quarter, 11 and a half points. Now below here, I will short this if it comes back. This move below here was a full ATR. That disqualified this zone as a potential bullish setup. So, hold on a second. 48, 50, 38, 37, 50, 37 is where I went under this trade. And then my stop will go 80% on ATR, which is 11 and a half points above the top of this zone if I get filled. So, what I was trying to get at is, you know, we were bound to, we put in the sell ice, this zone here, and we never got an ATR above there, and then we did get an ATR below. So, this disqualifies this as a possible long, only a potential short until something new comes in. So, that was here. I missed some trades in gold earlier. There was some awesome stop runs. I was just getting ready and watching, getting set up and missed a couple of these trades, stop run, stop run, stop run, and I missed a lot of these trades. You can see the last stop run was 400. That's this white zone, and it's kind of holding in here. Actually, I can potentially trade this now. Let's see where we are in the lugs. You guys have my screen, correct? These lugs. So, you see, yes, they were just bouncing around. This yellow lug was, again, these are lug-wig levels. I use them in my trading. They're extremely, extremely powerful, especially if you can use the real-time volume in knowing what to expect and using these, you know, for support and resistance and so on and so forth. So, we'll go over some of that logic today. But anyway, we're holding the directional yellow right now. Some interesting things to note when you draw new lugs. First of all, it should hold, you know, get her proprietary, whatever she's using, but the bottom line is when you draw new ones, you expect a tag of the blue. And if that doesn't happen, that's telling you something's up as far, and we didn't tag it twice, and now we're above the yellow. So, expectation is to go tag the red, right? You should not be seeing bearish setups. Now, just like down here, I'm sure there were probably bullish setups, right? Or, again, bullish setups. When you're expecting to tag the blue, you shouldn't be seeing bullish setups. And I'm sure there were some down here. Again, this is the middle of the night. But now you're seeing a potential bearish setup. So, then I'll change my tune, right? So, right now, expectation is red lug, but if this holds and moves lower, I will still get short. And hopefully that makes sense. It doesn't confuse anybody. Oh, so I wanted to check out gold because I made trade this. All right, so this was actually a trade that I missed, another trade that I missed. So, I trade. So, again, if we are below the yellow lug, I will take short setups aggressively just straight up 80% on the zone. I will get in short above. I will take long setups aggressively, right? So, I was ready to take that long on that ES aggressively, but it never got 80% above that zone. Now, I'm wanting to short it. So, if we tag one of these major lugs, red and blue are the major lugs, supporting resistance, I will get in along aggressively if there's a setup right at the lug. And that's exactly what happened here. As you can see, this white zone, so it looks like I'm going to get another chance. So, this ranged from 1939 down in 1934. It's great here. Something just came out. This is what I'm talking about, guys. These headlines are, at least I didn't get full on the short. All right, so the red lug is up at 80. So, I'll be looking at short aggressively up there if this moves up to the, let's just go back to ES for a second. This gets up to this red lug at 81. Baby lugs at 68.5. These are names we use in the room, by the way. They're just like minor targets. You can see the target line. And then 81 is the main target. So, if we get up to here, which it looks like we're going to, and I get a short signal, I will short that aggressively. If we rip through here and build new lugs, then I'll be looking for long setups. So, gold, ATR is, I'm sure it's, that's not really, sorry. Five minute. 50, 50.8, so 51 ticks. 51 ticks and a little spreadsheet. 41 ticks at 80% of an APR. So, once again, I can went short on that. S&P stops stopped by ES. 506 contracts. All right, so it looks like we're heading up to that red lug. I'll get there in a second. First of all, let me cancel this order. Again, I was going to short it. That is now, that idea is now done. We have gotten an ATR above this zone. And it looks like we're headed to the red lug up at the 84. You can see there's one of the reasons why we're rallying, because we talk about this every webinar. Here's the big money, and they will get the market to fill their trades, and then we can go down. So, that'll be perfect, because I have the red lugs right up here. If I get a signal, once these guys get their fill and get their way, then we're free to go back down. And here we go, straight to the liquidity. If you guys, if you're new to these webinars, the liquidity is just big orders in the order book, relative, right, to the other orders. And again, common sense tells you, well, all these people are willing to sell. I want to get short. It's actually the opposite, right? This is the big money that once they're filled, and they will push the market into these orders to get their fills. And like I talk about every webinar, I know that for a fact, because that's what I used to do when I was a scalper, a big scalper, and I watch other people do it all day long as well, including locals. Heroes top 60, 169 contracts. Locals, which are just like the, you know, guys that trade for the prop firms and trade for themselves, and then also the big money firms. It's all a big game. But, you know, when I tell my room every day, and I've told you guys that before, it's like, if you can't beat them, join them. It's a huge game. The markets are completely manipulated, but if you know what's going on, you can benefit from it, right? So that's what this is. This is, we will touch this, we will tag this liquidity, and then hopefully we can get short. So we said ATR was, 80% was 41 ticks, so that would put me at, I'm going by the last two digits here. So I will go along this, I will go along gold at 1943. As long as this doesn't get, if this gets an ATR below here, then this is done as a potential long signal. And then I will look for full ATR retest failure to go short. Hopefully, if we build the lugs. Again, I don't mess around with these lugs. I wait for the new ones to be built. You can see we're still at this, the blue lug here. So I'm waiting for the new lugs to be built. Then I'll trade that to the short side. Crude, craziness, touched 100 bucks last night. 100, even more should be swell for gas prices coming up. We're just, so this is the kind of stuff that with low, with levels of right, you use it as basic support and resistance. It's a little bit down here, but you can also determine by how it reacts. When we build new lugs, I'll come back to that and see what's going on in gold. You can see the stopper in right here, 219. It's a pretty big donor. It's making the stopper. Alrighty. Again, the stuff's crazy, guys, so just bear with me. I'm on one screen trying to try these zones. It takes three minutes just to draw the damn zone. Alright, so you can see here. This is NQ. We got some cell ice. This is the first step. Draw your zone and figure out your zone, and then we're going to check out the lugs and see which way we're going to trade this. S&P Ice Iceberg Cell ES 709 Comfracts. Up to that. Hey, look at that. First panel liquidity filled. Shocking. I've never seen this game before. This is Nax. Hopefully we get up here. Red lug, cell ice comes in, short it, and watch it go back. Again, paper's got to get their fill first. They run the show. Again, paper is big houses. Big funds, stuff like that. Alright, so let's check out the lugs here. Maybe we'll short this here. So we're approaching red lug here, too. This is going to be, we're almost here. Alright, so if this can tag this red lug, I'll short this setup in NQ aggressively, getting 80% of an ATR. The ATR is a sweet 62 points. 62.3, so 63 points. Gold's top's GC 209 Comfracts. Gold's getting dis-hammered. Brussel Iceberg bi-alert at RT 151 Comfracts. Gold Ice GC 150 Comfracts. Alright, I'm going to focus on equities, because that's a cold that's kind of hard to keep up with, and we're approaching some important areas here in equities. We'll just watch this. So I think that may be a tag of the red lug, and I'll be able to short this setup. 80% of an ATR below here. S&P Iceberg Cell ES 700 Comfracts. Aquidity band number two, hit. Another shocking development. It's the same thing every day. So you can see 700 came in here. S&P Iceberg Cell ES 711 Comfracts. That's exactly what I said I wanted to see, right, which I was expecting. Aquidity, then paper comes in, so I'll look at these Icebergs coming in. This was 700. This is another 15, 1600. Mark up this one here first. That's that. Back to the drawing board. 14.57 is the ATR, which is 80%. That is 11.65, so I'm going to say 12 points below here. So 12 points below here, I will short. This is right at the red lug, right? 77.5, pretty much. 65.5. And all I can trade is one because of the volatility. I'll short this also. ATR is 63.5. And this one, I'm going to be risking like 100 points plus. So 51 points below here. So this is the way I trade these zones, guys. I mean, you can say, we talk about this every webinar too. You can say, you know what, I'm not waiting for 51 points. I think the minute we get below this zone, I want to short, right? Or I like waiting for it to get back in the zone and at the top of the zone, I'm going to take a shot and I'll just stop out in ATR. I'll get in right at the top of the zone. All those are potential, you know, you can trade these out. You want to trade them. That's the way I trade them after watching them for two plus years, right? One main act. Three years, actually. That's right. You're essentially saying that one main act that is from February 15th. So, you know, if I enter this trade, I'm entering 50 points below the zone. I have to put my staff 50 points above the zone. That's 100. And then the zone is another 40. 40 points on this trade. I don't even think, actually, I could put this trade on. That's when you go to your risk calculator. I laid out I could put this trade. I'm filled on ES, by the way. Make population census. Yeah, I can. You see, like, when I get to 200 points, that I can't put it on. You know, and I'm fine with the risk per se. Like, you may say 140 points. That's ridiculous. Well, this thing's moving. It was down, what, 500 points overnight? Like, that's not a lot in this market environment. All right. So, let's put this in. That's basically 60. 59. 400 of this trade. 359. Got one guy up there. So, the gas, the crude number's coming out here in five minutes, too. Actually, no, I take that back. This natural gas crew comes out at 10 o'clock central because there was a holiday on, so they move it to Thursdays. All right. See what's going on here. Let's get my stop in. 14.82 is the ATR. 185 now. So, 12 points above here is my stop out. That's 95.50. All right. So, that's that trade. So, again, Ludwigs, this is exactly what I called what's probably going to happen, right? There you go. The magical lugs. The United States hasn't seen Russian forces move into the Western part of Ukraine. You got the cell ice here. Turn this down a little bit. So, what do you got there, Phil? Like we called. Cell ice came in. Like we called. Bumps right off the red lug. Now I'm playing for one of these. If something bullish comes in, then I will trail my stop. Or if a new setter comes in, I'll trail my stop and potentially add to the straight knot. So, let's see what happens here. I'm going to find the chat. If you guys have any questions, fire them in because I can see the chat. I'll answer them the best I can. So, you know, this may take some time to get through the, you know, this was cell ice that got smoked. Cell ice that got smoked. Cell ice that got smoked. May bounce off of here. Probably going to do one of these, one of these, and then this one, and then finally give it up. But, you know, I'm hoping it goes right through here, but I doubt it. But I'm not getting out, you know, especially for my risk. I'm not getting out right here. I'm playing for at least the yellow lug. Depending on what happens down there. So, the yellow lugs at 30, 32, 3 quarters. All right. Sorry. Do not trade. So, it'd be nice ice for guys. Yes. 165 contracts. That's actually one market I have never traded. I've traded pretty much every market, every futures market, except for lumber. I don't think I traded like it. I think, nope, one of them, and there's another, there's a couple commodities I haven't traded, but yeah, I don't trade lumber. I missed this trade earlier. This was a set up. This was 200 ice. Now, you can see another, this is big ice coming in here. So, let's market this up and we can potentially trade off of this. I just don't want to be in a short and get caught on the limit up. So, if you guys can tell me what that number is, that would be great. Since I don't have that information in front of me. Again, I should know it, but you don't see it very often. All right. So, this is the first step. Mark your zone. See this ice came in. This thing's moving like crude oil. Goodness. All right. So, that's that. Check out our lugs. All right. So, we're right at the yellow lug, obviously. So, no matter which way I trade this set up, if I trade it, since we're right at the yellow lug and we got a little bit below it, I need to see full ATR retest failure, full ATR retest failure to trade this. If this was above the yellow lug and it came down and got back out, I'd get an 80% aggressively. But right now, since we got a little bit below it and we're just bouncing around it, I'm going to be prudent, especially on a day like today. So, that's the second step. Third step is what's your ATR? It's hit 7.91. Pretty elevated for beans. So, basically, I need to see eight points either way out of the zone, first and foremost. Okay. I need to see 85 retest failure. I'll get in an 80% or down here. So, that's retest failure. We'll keep an eye on that. All right. So, you can see this is kind of struggling at the zone. This is the body of the cell isome. It got smoked. So, that was to be expected. If you can get through the second zone. Well, first of all, I'm going to keep a real close eye on this. I may just cover this at that because the yellow lug's right here. This gets in here and starts to struggle. I'll just get out of the trade and wait for a new set up and crude. And again, the number's coming out here in half an hour. Yeah, I've watched Wheaton. Wheaton beans are my main two eggs. I don't trade corn because it's like to paint trade most days. Wheaton was the one that was limit up overnight. So, I don't even know what it's at right now. I think it still is, actually. Yeah, limit up. So, whatever that, let's see if we can figure this out. What was the closing? I don't know what they base it off of. They base it off of the glowbacks open. That's like 60 cents. So, it used to be like 50, I think it was 50 cents. It looks like it's 50 or 60 cents. So, anyway, you can see we're just limit up. You don't want to be short in that because there's been instances, never happened to me, but other friends of mine traders, that were like short and it just opened up like limit up like for days in a row. You do not want to be going short up here. There's nothing really to see there. Move along. We did not get an ATR above the sewn yet. So, we don't know what this setup is. It's either going to be a Titanic setup, meaning buy ice comes in, holds the market, and goes, or it's going to be broken ice. If we get an ATR below there, that's a broken ice setup. Again, one of my six setups, they used to be five. We have another setup we've added called Step Brothers, and that's when you get buy ice and buy stops in the same direction or sell ice and sell stops in the same direction. That's been a pretty profitable setup as well. All right, what's going on now? What's the news now? So, just like I said, right? You kind of learn the games and the routines watching these every day. Like I said, we're probably struggling this on a little bit. We'll do this. Then we'll come down here. We'll probably do this and this and then we'll finally give it up. I was hoping we can rip through this first sewn from before this. So, remember that the retest failures, all it is, is the whole theory behind it again because I used to be a big trader. When I would get smoked, I would pray for the market to come back in that area and I would peel out of my trade and that's what is driving, that is the retest failure, the logic behind it. So, I wasn't willing to cover that on this small of a profit, right? So, if this turns around and stops me out, then it stops me out, but I'm looking for at least down here 41.30. Did you fill the NASDAQ? No, I did not. Definitely would have been filled. Well, here's a retest. So, still can go short. I still will. 64 points is the ATR, 5-minute ATR. 8% that's 51.2. I could have squat put this order in. So, 50 points below here. 51 points is 60.59. Did I not put this in here? That's weird. Alright, let's try this again. That's that. I have to get filled on that so I'll be sure both of these over here. And this is stick strike. This is basically telling you the speed of the orders coming in and the size. And it's an algorithm, and it goes from 1 to 15. You can see the gauge here. So, if you have it on 1, it's super sensitive. So, you can see here on this page. All these are set to 1. Record this. Actually, I forgot to record these today, but these are all set to 1. I don't have the sound on, but can set them from 1 to 15. It just tells you how the orders are coming in. The other thing I watch is this edge product from Taz. This is really important. You want to be very careful when you see green or red above. This is the 67% line. You can see here. So, these are all the stocks in the S&P 500. You can also set it for Nasdaq or Dow. That means they're all above their 5-minute marker profile, aka Taz boxes. And you want to be very careful. Like, say, if green comes up here, you want to be very careful initiating long when it's overbought because you get the reversion all the time, and you can see. I mean, this is overnight, but it always reverts. So, you want to be very... It doesn't mean you just blindly take the other side of a trade, but you definitely want to be very aware of that. It's very handy, as you guys saw last week. I didn't enter as short, because we were oversold, and I would have been a loser. So, I keep an eye on that. See, very quiet in the stocks. All right, I'm filled. I'm going to be a sweet 140-point risk here. So, ATR is 51, so I can put my... I don't like this... I don't like this liquidity here, because the same reason why we saw ES went and tagged on liquidity, but that's pretty far away, so I'm okay with it. I'm sure there's some down here somewhere. All right, so what I will watch now, I'm definitely watching the yellow log here in both of these if we get down there. 33 ish for ES, and 13, 2, 4. And as I can you see how powerful these low-wit levels are. Again, you guys, you can get these. Just go on her website, lowwitlevels.com. Get the three-day trial. It's free. Try it out. Say you saw it on the BookMap webinar, and she'll have some special stuff for you. I don't know exactly what she's doing, but I know she does something for the BookMap people. These things, again, this and the volume are the crux of my trading, and these are the most powerful things I've ever seen, especially when you can see it. I actually didn't even see this when I put this trade on her when we were talking about this. So, we're talking about reversing the mean. Well, we were also, here's VWAP. Here's one standard deviation of VWAP. That's called the daily value area. Here's one and a half. Here's two. We got basically two and a half. Add a red log with a bearish setup. The setups don't get much better than that. Right? And you can see right out there. So, what I actually could have done, I could have been way more aggressive, and I could have shorted right in that zone. So, this is what I'm talking about. You can have variations to how you trade these. I should have done this up there, because there was some, you know, what they call confluence, right? There were so many things going for this trade. I could have entered right in the middle of this zone, and been way more aggressive on this trade instead of waiting for 50 points out of here. All right. So, the minute the sell ice came in. So, when I did this, and I got back inside of here, I could have shorted it right there and then just risk an ATR above there, which would have been, you know, I'd only risked 50 points instead of 140. Right? Instead I waited for, actually I thought I was in right here, but it retested, failed. So, this is what I'm talking about. You can come up with different methods to trade these, especially at important areas. This was a, I should have been aggressive here, right? Because, again, red lug, VWAP, deviation, standard deviation, and a setup. All right. So, this is my expectation down here, 254-ish. We need ES to get through this zone here, and I'm going to be watching this prior zone. This was like 2,000 sell ice. You can bet it's going to have some problem getting through here first time, so I will cover it. That's where the yellow lug is, too. Some questions. You also use POC VWAP. I'll look at point of control on my market profile, which we didn't really look at today. Not my composites. The thing is, there's really no composites here. We could build this one. So, how do I build these blue zones? Right? That will color whatever, pink or red, whatever this is. These just mean these were a long time ago. So, if days overlap, then I merge them and build the composites. So, for those of you that don't know market profile, pretty simple stuff, right? This is the day of trading, so you kind of break this out like this. So, this was that day. So, we were talking about this in the room the other day. Now, this was having trouble holding inside of this prior composite, right? Got here, failed again, closed right here. Yesterday, tried to get in, failed again. That is a sign that value is going to be moving lower, right? So, anyway, when you merge these together, this is just the one day traded, and then the lines are basically, it's the value area, right? So, this is where 70% of the trade occurred throughout the day are 67. Whatever it is, 67.5% of the trade happened from inside these prices, right? So, when you have multiple days that merge, you can, or that overlap, at least 50% of the value areas, then you can merge all the days, right? So, we'll do right now, merge that, merge that. And build a composite. So, I will pay attention to pointed controls of composites, not single days. You can, you know, you can use whatever you want, but the way I trade it, I look, I watch pointed control and obviously tops and bottoms are very important, right? So, if this does find a way to get back up here, you want to watch this 13.7 for one of those, right? I think we're just going to come straight down and this was like, you know, three years ago, two years ago, you're getting down to these territories. And you can see here in the bigger picture stuff, this was a zone, this was an important zone. We didn't get quite there yet. And then we may take one more shot at it. I'm hoping anyway, now that I'm short. So, this was, this zone was drawn. This was the high-volume node in this balance area. This is a daily chart, mind you. This is like a month trade. We broke out, came back. We retested high-volume node, which is just the middle of a balance area where usually the most trade occurs. And you can see it bounced, it bounced, and then launched. So, this is directional conviction. So, this zone is really important. So, if we come back down here again, this may bounce again. If this gets through this, then it's going to be really ugly. So, someone asked in my room last night, on the moves down last night, is this capitulation? And I said this is nowhere near capitulation. When you see the ES down three to 500 points, then you'll know capitulation. All right. So, just bouncing around right now. ES is just having a problem getting through this zone. But I will hold it. Same thing. It's not out of the zone, but ES, longer-term stuff. Anything can happen here. This is kind of no-man's land where it could rip back up and revisit some of these brighter areas, like way up here. But I, you know, with what's going on, there'd be pretty mean move, even with the shore covering, which Spokane of my claims, that's just what all the big moves upwards are right now. You can see we're basically holding inside this dude. That's where we stop. But, I mean, we could rally back up, but we can also come down in these areas here. And that's what I'm expecting. Again, you come up with a thesis, and then you try to trade that way if something changes with the volume, which is the most important thing, the real-time buying, then you change your tune. My career number is 15 minutes. See if we can get it up to $150. That'd be great. Great for gas prices. Look at POC on book map. I have enough on my charts on book map. I like to have separate charts. It makes it cleaner, easier on my brain. I don't like having 85 things on a chart. I mean, I already have enough on this chart, as you can see, with the zones and the liquidity and everything else. So what happened in beans? Did I miss a trade? So we did get an ATR above here. We were looking for eight points. Is that right? No, six points. ATR 7.42 in there. So we're looking for six points. We definitely got that. Now, if this retest fails, I will go along. Remember, this is right up to yellow. If this retest fails, I'll go along. That's my expectation. 90.93 ish. So again, I need to see this retest. I'm sorry, 7.5 was the full ATR. But did that got 7.5 points out of there? Or a sense out of there, right? So then if this retest fails, I'll go along six points above this zone. It'll go along at 83. I'll play it up to the red lug, to that 93. And maybe higher. It can bust through there and build new lugs. All right. Asics come all the way back up. That's just what you've got to expect, guys. Again, if you don't like the headlines, you don't like the volatility, then just set out the rest of this week, and hopefully it'll start to settle down a little bit next week. But there's no reason to crush your accounts in this kind of trade that is very unpredictable. Nothing going on now, so I can answer some questions. TEGT is actually a member, and he's always pointing out setups, lugs, everything. And that's what I want the room to be. You get enough people doing it, no one ever misses a trade, right? No one ever misses a setup, lugs, so on and so forth. So thank you, GTE. No questions, huh? I guess I'm not good of a teacher. All right, so this is gold. Here is... NQ, stopped by NQ. 160 contracts. Bystaff's against my position. Actually, trail this. This is right in that prior zone, as you can see here. Only 160, but I'd like to see more in that, but today's pretty volatile. So I can actually trail my stop a little bit down because of this new setup. Not much, but it turns out to be a losing trade. The way we do this is now the top of this zone is at 3750. Here is to 69. 69, 55 points above the zone puts me at 82. 82.5, 82.3 quarters. So I can at least move this down a little bit. Not much. 20 points. Normally... Hold on one second. I'm just going to move my stop on this other account. The way I do this, this still may happen. I'm not going to add to this trade, because it's basically in the same exact spot as this new setup occurred. So we had to sell ice. This is what we traded off of. And then this came up. Bystaff just fired off in the middle of this zone. So I'm not going to add to this trade. Bruce likes the idea of it's okay to add to it because if this turns into a short setup then you have dueling two short setups in the same area. I agree, but I don't want to have too much risk on the same area. So I don't like trading that way. Now if this moves lower, so say we start to sell off, then you get another setup here. So say we sell off and we get something down here. Well now I'll trade all my stop to an ATR. 80% of an ATR below this new setup and then I can actually add to that trade, you know, if we're voting. We'd probably still be above the 11. $361 contract. I'll check out your order in a second. But I can add to it and then trade my stop based on the new setup. The point is, that's what I did with this. I trailed my stop, but I'm not adding to this setup because it's right in the middle of the first one, right? So hopefully we'll get an opportunity. I'll show you what I mean if this thing can start to sell off. So Bruce claims they don't show icebergs in here anymore. I don't know when that happened because this was a Y either. He was supposed to let me know because this is a CME product. I don't know why it would be any different, but it doesn't show icebergs, it just shows stop runs. So you could trade just off stop runs, right? So this is either going to be a dumb and dumber or a stop and hold. Let's draw this zone. Pretty tight zone for 300 plus stops. So threshold in Euro is 100, meaning I'll potentially trade anything over 100 in the setups, anything less I don't pay attention to. And obviously each product is different. So that's step one. Now let's take a look at our lugs near the blue lug too, right? We're not quite there yet. So I'm definitely not going to short this setup into the blue lug because I know how powerful these things are, right? So I won't short it, but if this turns into a dumb and dumber, meaning stop the dumb money puke and then it turns around and goes the other way, I will trade it, but I still have to be conservative in my entry because like here's your setup, we're fully ill lugs so I need to see full ATR retest failure then I'll belong. If this stop run happened at the blue lug, then I would be aggressive, but it's not down there yet. So we'll see what happens. 74, 75 ticks. I'm not sure Euro very often. So right now, here comes a sweet rally in my face. Let's see if we can hold this. Looking very promising back to the zone. So you can see how, I mean these zones are, you know, golden. As far as, you know, you can see the market reacted in its own choice. I wasn't willing to get out right there because this was not enough profit for me for what I was risking, but even when I'm wrong, I at least like to see the reasons I'm wrong, right? So it's like, okay, well this didn't go because this zone was strong enough to hold this thing where this ice got run over the first time when it came back, it couldn't get through it. Now we're back up here. So I got stopped up there. Here's up to 70. My goodness. 70 and a half. I can actually move this up a little bit if I wanted to. So I can go, 80% of a 70 is 56, 56 half. So I can go 56 half above there. It's 93. I'll move this up a little bit, but I'm not expecting much. I'm going to put it up. Again, because the ATR changed. I don't usually do that, especially on my stops, but the ATR did, did change. I put it a little higher because I just put it above that spot gamma level. So again, my original stop was up here anyway. So you can see all this liquidity. This is what I was afraid of when I put the trade on. I said, oh yeah, I forgot. I didn't see that. So these guys will get filled. They'll get filled. They'll get filled. And then we'll be okay to sell up. That's the most likely scenario. I hope I'm wrong, but probably not. Let's see what's going on. And so we're getting a retest of that zone in beans. So you got your ATR. Here's your retest. Three quarters in ATR. I will go along. I'm sorry. We changed. It used to be three quarters now. It's 80%. So ATR is 7.04. 5.63. So five and three quarter points out of here. You can see they're starting to buy these stocks now. So I'm almost certain to be stopped out of that. NASDAQ short. What do I say? Six points is 83. 82 quarter. 83 quarter, sorry. If I get filled, the red loves I get 93. So that's where I'm... That's my first target. I guess everything's okay with the world, though. Let's go ahead and rally. Or short covering. Either one. Doesn't matter. Doesn't matter for my position with the reason this. See what I mean? Like, look at the P&L. I just thought, of course it's going to be the exact guarantee every time. But look at the P&L I lost there. That was just a one lot, right? So that's how volatile this is. So if you guys aren't willing to trade that volatility, then just, you know, find another market. All these markets are pretty high in volatility, obviously, but not like this, right? You guys should hear me in my room. I mean, this happens every single... And you saw me move the stop too, right? So it doesn't matter where I put this thing. That's the exact tick. Is that not amazing? 10 times a day. Look at that. All you can do is laugh. It's just that ridiculous. I literally lose my mind sometimes in the room because how often that happens. Like, how is that the exact tick? So my stop was up here. Then I move it down here. And then I'm like, ah, let's move it based on the current volatility. And then it stops me to the tick. Like, I tell my room, this is the one thing that gets me. I can handle losing. I just can't accept that that can happen that many times to me over my, you know, 20-plus year career. It's insane. It's insane. All right, let's see if there's any questions. So before I break my screen, where do you get the ATR? That's just the thinkorswim. It's just the default. All right. So I think it's called Wilders. This is basically, this is just their default. I don't usually mess with stuff. I like to use the default. It's fine. Works fine for me. So it's Wilders. You can Google it. Look it up. 14 time period. So just looking at obviously the last five minute or 14 five minute periods. So I am thinking about coming up with a new system where if I get stopped out like this, I gave it one more shot. So meaning because it just happened so often, I'm just so sick of watching it and then watching the trade work. Right. So it's like, if I get stopped out, if it moves like, you know, five points away or 10 points away, whatever I'm going to come up with, because I got to come up with something because I'm just, I can't watch this as many times every day. Or I just, I give it one more shot. And then I just put it right back there. And because if it comes up again, or just maybe just above it, I'm going to come up with a system like this because this is just ridiculous. I mean, look at that in this market and this volatility, that is the exact, exact price. Exact. Wasn't this about gamma level. I thought I put it above there. All right. Still on the, still on the ES. You can see it. Look at this range. What are we ranging? Zone to zone to zone. But it does that. It goes to zero. Not a long stop to have the tech. Again, ask members of my room. This is not me just bitching and complaining. It happens literally 10 times a day. And I know these algas are set up for the ATR and percentage of the ATR, blah, blah, blah. But it doesn't matter where I put it. Right. So if I would have put it 100%, 110%, 10% of an ATR, that would have been the high tech. If I put it in 70%, that's the high tech. It's just, it really gets to me. And when you watch it that often, it just really gets to me. If this struggles up here, I'll put this back on 10 points. All right. So I'll put that back on. So quick is going to get filled. So this is probably going to be a losing trade. And again, I don't usually do this, but they gave me an opportunity. So I gave it a shot for 10 points or 15 points. It's fine. Very volatile. So what? That was the crew number came out and it was nothing. I didn't even hear anything. It's kind of strange. It's supposed to come at 10 o'clock, right? All right. So we're down to the blue looking hero now. Crew is going on and just dancing around the yellow. Other bounce off the red here. Let's try to get above the red again. So if you guys watched that webinar, I did have a Pamela Ludwig when I was asking her questions. It's been posted many times. If you don't have it, just scroll up. It's in this room. She talks about how if you, you know, you get above the red and you don't draw new lugs. That is a very important sign, especially if you start to motor now. It means it didn't hit the requirement for new lugs. And then it gets back below the red. I had it heading back on work so far. This does not feel very good. But again, I treated what I see and not what I feel. So I treated what I feel. Literally my intuitions are almost probably 80% wrong nowadays with these algos. That's why you just get to them and you follow your system. If I were to trade off what I feel, I'm wrong 80% of the time, if not. All right, so filled in beans. Now my stop goes ATR 7.25. You can see it right there. So that's 5.8, so 6 points below the zone. I'll stop out of this trade. So 74, 50, 78, 50. I'm sorry, 68, 50. And then I'm playing for the red lug. That's my first target, or my main target. I can't believe that there's nothing going on in crude. I guess there's just, there's enough action in there that I don't care about the number now. I'm pretty quiet. Let's look at the internal studio. I haven't looked at that. This is the VIX, basically just ranging. Kind of like the markets right now. So if this bus is higher, then stocks are going to sell off. This is the ADD, Advanced Decline Line. We started out at trend down territory. Anything under 2000 is usually trend down. You can see it bounced. So let's see if this can make another move down. And then this is the synthetic. This is all the fang stocks added together. And this is what they're doing. Microsoft, Amazon, Apple, Tesla, Google, Facebook. Well, I'm from rip your head off the trade to nothing going on. All right, what do you guys got? What are the sellers at? You want to keep an eye? We talk about this every webinar. Is this relative volume? And you can see why it's choppy. And this is normal. I mean, it's not bad, but for a day like today, considering that you can see here, like this is not real good volume for a day like today, where you want to see this pop in two to three times normal here. And it's kind of hanging around one time. So that's why you're getting this chop. Look at that. That's why it's choppy. Yeah, I'll just take over when they know there's no big money playing. Like, look at overnight here. This is the most I've seen. Again, this relative volume is basing in on this exact time period. That exact time period for the last 30 days. You can see this. There was one bar here. That was like 30 times normal. So this is what I expected to see now. And you can see that just dying now. And now it's ranging. Where can I find them? But with levels. Yeah, it's in this room. I posted it. Scroll up. I can see if I can find it here again. I'll post it again. Hold on. Or do you already post it? Yeah, I can see it. I can see it. Yeah, it's just going to be a little bit of a mess. But look at that. That's a very informative, very straightforward. Again, I don't ask, you know, Any technical questions. Is just how are you read this? How do you read that? So there's no way I'm not going to get stopped out of this just for your information, because anytime I break my rules. Or do something different than I should my negative. So negative reinforcement is obviously when you do something wrong and you get away with it. When I do something wrong. Like I never read. But there's just no chance. My negative reinforcement is zero. I lose every single time. Which you should, right? That's the whole point. You don't even want negative reinforcement in trading because then you'll do it again, right? Because if you get away with it one time, you'll do it again. And then you'll do it again until you get burned. And then you're like, okay, I'm not gonna do that anymore. Can't believe I didn't get stopped out there to the tech that's shocking. So I'm gonna get stopped, but beans is coming back. Guys, if you're struggling in these markets, it's not a big deal. Turn it off, turn it off, wait until next week, wait until the weekend, through the weekend, wait until things settle down a little bit. The war will still be going on, but it won't be like there's shocking, all these headlines flying out, right? There's just no reason to give back a ton of money in this kind of environment. It's just too unpredictable, right? I mean, we've seen, I got burned the other day twice, once in gold and once in Nasdaq where the trade was working perfectly. The headline comes out and the thing just rips the other way and I get smoked, right? And that's gonna happen. And these, it can always happen, but it's really opening yourself up to what's happening right now. So why risk that? Why risk what you've earned? Or if you've made a bunch of money lately, why risk what you earn? If you're struggling, why go deeper in the hole and ruin your confidence in these clown markets? Like this just, some of these moves are just, you can't predict what's gonna happen. Range, now go fast right now, that's all it is. Just watch my negative reinforcement that doesn't exist. The other thing I got going for me is paper got their fill right here, but they're up here too. So this is probably gonna rip up, fill all these dudes and then second half of the day that's when we'll have to sell off. They need their fills and they need their fills at the best prices, right there. This is the main one. Again, be careful. So you see how this liquidity is just popping in here right now? That's not liquidity I look at. Talk about this all the time too, right? These are just algos or someone trying to scare the market away. I'm talking about this kind of liquidity that's been in here all day, all night, the open or longer, right? This is liquidity I'm talking about. That's the magnets. Don't be using liquidity that's popping in and out of the book because you're gonna, it means nothing. It's just games, it's spoofing. Even though spoofing is illegal, I'm using air quotes as it still goes on nonstop. You wake over there, Tom? Haven't heard a peep from you. You looking up your movie quotes? Talk to me. It's Sam. Oh, Sam, how are you, Tom? Sorry. I assumed you were talking to me. No, I think- That's probably a way to respond right away. No, I think this is really good stuff. In tricky conditions, you know, and even though you got stopped at whatever, you're demonstrating discipline, you know, you adjusted to the market conditions, reduced your size. And I think this is the lesson here. It's kind of the professional way of thinking that probably many retail traders are lacking. Right, exactly. Yeah, I mean, you still, you see, I could still take a beating, even with one loss, right? So, yeah, you cut down your size or you don't even try to look at the size coming in here, right? I mean, it's by eyes. So look, look at this, 419. So what this is going to do, this is probably these offers are probably this by eyes. So they're trying to prop it up to push it into there, okay? And then they get filled on all this and then we can finally sell off. That's the game. And you could be mad and you could say these markets are manipulated, which they are. You know, like we were talking about in the earlier day, even Fed members could trade, which is unbelievable to me. I mean, can we go on that rant? They have to disclose it. Who gives a shit? Pardon my language? Well, here's where they have to disclose it. How can Fed members that decide policy, how can they put on trade like that? Let me get me started. So anyway, this is all a big game. It's all manipulated. You can either complain it's manipulated or you can figure out what they're doing and it's one of the two. If you can't get over the fact that it's manipulated, then you gotta find another profession. So here we go, huge sell ice. I mean, by eyes, I fully expect this. So this could still be a better setup, which is good. These guys can get their fill. It wouldn't be a full ATR above here. And then this thing can break and then I'll go short. See if we built new lugs first and foremost. Let me step down on my ATS too, right? Yeah, because everything's okay with the world. There's new lugs, AES, and then Q, and lugs here as well. So what this should do, right? This is what I'm talking about. You can come up with your thesis, especially on the fly, right? This broke the lugs. We built new lugs. This needs to hold yellow. Worst case scenario is prior red, right? If this gets back below here, something's wrong and we're coming down to at least there, which I think is what's gonna happen again. Once this liquidity gets their fills, then we're gonna be feel free to sell off. But there's some awesome way to continue to rally then. Here's your target, 13-7. Is that something there? Can we say that 13-7 was something else? I mentioned that price earlier, but oh, that was the market profile, right? There you go. I don't think it's gonna make it up there. That's just my opinion slash thesis. But again, I don't trade with it. I don't, doesn't mean I just throw on a short, right? I mean, if I get long setups, I'll trade it and I'll say, okay, I guess we're gonna get up there. But if we do make it up there, I fully expect that. But I think we're just gonna mess around. I think that liquidity's gonna get filled here and then I think we're gonna do that. That's what I think. Doesn't mean, again, I'm trading what I see, but I just think that's gonna happen. But if this turns out to be a bullish setup, but now, because we built new lugs, I need to see either way I trade this now. There's no aggressive venture. I need to see a full ATR retest failure, full ATR retest failure, and then I'll get it either way, right? So again, I will take longs. I don't want to, but I will because I trade my, you gotta be systematic about this. You guys are going against algos. 85 plus percent on the market are algos, right? They don't change how they, they're not changing what they're doing because how they feel, they don't feel, right? They have their set parameters that are put in and they follow them. And that's what you need to do with this stuff, right? I'm telling you, I had some of the best intuition on the planet at one time as far as scalping and understanding order flow and stuff. 80% or more of what I feel or what I think is going to happen is usually wrong, right? So it's like, that's why, you know, I always, who doesn't have an opinion, right? But I don't let my opinion affect the way I trade this stuff. You might, you can ask my room. I say it all the time, like, all right, I guess I'll get long here. It doesn't feel good, but you know, this is telling me to get long. And then the thing reps to 50 points and I'm like, okay, that's why I don't trade what I feel. I trade what the market is telling me. And this is telling me this is huge buy ice. This should hold, this should rip. If this fails, something's wrong and I'll get short. Let's watch the liquidity get filled in this rigged game. So there's one band, here's two bands. So you get this a lot too, like if it'll sometimes they'll run away first try because there's all those that are set up to pick this stuff up. They see there's big size. So they run it away hoping that these guys will chase. These guys aren't chasing. They've been sitting here all morning all night. They're not chasing anything, but I'm just saying many times, if you're, you know, you say you were long and you're like watching this liquidity and it comes real close and you start to see the cell bubbles, well, you can get out of a couple because they'll get filled eventually, but sometimes it does this and then it comes back. I won't just fill. Here's number two, let's fill number three and then watch the thing die. Yeah, that'll probably be throughout the afternoon, but this guys, this is the game. And this is what I'm talking about. Don't pay attention to this liquidity. This is someone just trying to, who do you think this is? I'm gonna say this bid is whoever this offer is. So they put a big bid in and they scare it right into their offer and then they're out and you'll see this pull. This is the game guys. If you know the game, it makes it so much easier. Even when you're wrong, you can at least say, okay, well, this is why I was wrong, okay. I know there's buy in the stacks, but what do you think? So actually I'm gonna find this, one of my room members posted this to their airs. We'll put it in number three. This is really eye-opening. When you watch this video, let me see if I can find it in my room, I'll post it. Which in Kramer, before he became mainstream, talking about how he would just manipulate the market all day long in his hedge fund. So if you don't think that's what's happening, that's what's happening. And there's been no setups up here either. So first of all, I'll look for that in a second. Let's see. So this is 27. We're not even close to an ATR above area. Here is 66. So because we're at, we built new logs and we're at the old log. You can see 66 points above this, above this upper the zone. So I need to see 93 trade and then retest failure. Oh, I didn't see that. Look at that. My bad. We got to fill these two as well first. Then we can sell off. My bad. Whoever is that, whoever posted that in my room if you're on this webinar, post that for me because I can't find it. I gotta go back through like honored messages. It's worth the wait because you'll just listen to this. You'll be like, are you kidding me? Like then you'll understand what I'm trying to tell you. We already posted it. Thank you. Thanks a lot. I was sitting there scrolling for five minutes, but yeah, watch that. If you don't think this stuff's manipulated, he's really, he talks about manipulating futures too. But again guys, this is the game you're playing. This is why having book map is the most important thing you can have and this volume information because you can see what they're doing or you have a pretty good idea of what they're trying to do and you can see when they're wrong and you can see when they're right and you know the areas that are important. Right, just like yes. I even said, this may just hold this and I did, right? If you know your areas, you could have said, okay, I got to move it. Hey, that's 18 points. I'm good with that. I'll get out right there, right? When is you know the areas? Because of the paper. That's what book map tells you. What did we get? Did we get a tick stop out here? I remember 10 a day. So this would only be number two. Pretty close. At least I want a couple of picks above. All right guys, kind of run out of gas. There's really nothing going on yet. I mean, there's really no signals. We had the one and we tried to short it but I'm not sold on this continue to rally. But you know, there's been no new signals in here but I will trade this MQ to the long side if we get an ATR above here. Okay, Scott, are you ready to call it? You're running out of gas. Yeah, one second. I'm just, I wanted to show him something there. So if this trades, again, ATR is 66. If this gets up to 90 something, probably well fill these guys retest fail, I'll go long. But if this fails and does not get an ATR and then we get ATR below here retest fail, I'll go short. This is a really important zone. You will see the big move today off of this zone is what I'm expecting. This is, you know, 420 by ice in this area. So key off of the zone and just be patient and be careful guys because it's very, very easy to get smoked in these markets and there's no reason to throw away your money and certain trainings uncertain as it is then you throw in this nonsense then you're, you know, I don't like, I don't like not having an edge, right? And when the headline comes out, your edge is out the window. Let me see if there's any other questions and I'm gonna hop off. Yeah, I think that's one of the kind of key lessons here is remembering you can just sit out. If you don't like the volatility just preserve that capital. You don't have to trade. Right, I mean, that's the whole idea of being a trader, right? Being in this profession, you can dictate when you trade or not. You can say, you know what? I'm gonna go, I'm not messing around on this nonsense. I'm gonna go work out. I'm gonna go hit golf balls, whatever. I'm gonna just work on my trading, turn off the screens and work on, you know, set up stuff like that, right? You don't have to participate. That's the beauty of being an independent trader. You decide when you wanna work, right? Yep. All right, so no questions. Not a lot today, just a couple losers, but you'd be expected in this market environment. Okay, Scott, well, thanks for joining us. I appreciate it, always a pleasure. I really find interest in listening to your thought process and your kind of systematic approach, you know, is, I think it's what separates the kind of retail from the professional. You really stick to your rules. I think we all get frustrated, but the difference is you don't necessarily act on your frustrations. You kind of just chill and laugh it off, where I'd be kind of chasing the market around, but yeah, no, it's great, great stuff. Yeah, I mean, I do get upset, obviously, you guys hear me with the tick out all the time and that does, but I don't start doing stupid stuff, right? I just don't start, trust me, I've gone through this for 20 plus years. I used to do stuff like that all the time, right? And as you get, as you learn these markets, you learn how to trade, you learn how to control your self-control, like I don't have great self-control sometimes, as far as like breaking screens and stuff, doesn't happen very much anymore, but it still happens once in a while. But what I don't do is just start throwing in order, zap-azardly, right? I'll take it on the chin and I'll move on. Doesn't mean I can't complain about it, ask my room, but that's my way of releasing my stress, right? Cause if I were to keep everything inside, there's nothing wrong with showing your emotion, right? All these trainings that come up just... Top-Cell-CO, top-Cell-CO, 155 contracts. All these trainings that colleges like Dr. Brenstof say, it's the worst thing you could possibly do is holding your emotions and act like it's not bothering you, right? But there's ways to get it out without damaging your account, right? And my way of getting it out is just basically... I'm gonna take your money, just... Talking to him, because if I don't, my head would pop off. And we talk about that too all the time, so. Okay, I sent the fight off in crude, it's not a ton, but keep an eye on that. And otherwise, I'm really watching this on NASDAQ and I will trade it. Other than that, I will see you guys next Thursday. Hopefully it'll settle down by then and be normal trading again. Just be very careful, don't throw away money for no reason in this environment. Awesome, thank you. Cheers, bye-bye.