 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map And it is live order flow analysis forward-looking welcome to the book map live trading webinar This is and it is the free education you get with book map Well, it's open to anybody And what we go through is Monday Tuesday and Friday. It's all based on our educational course But it is forward-looking analysis Reading the current order flow in the market in book map and then giving some insight to where price may move next Due to our analysis so that you can apply what you've learned from the course That's the whole goal here. There are many different ways to trade. We will cover a lot of them Then we have live trading with Jay trader for tomorrow stocks At 10 a.m. And then scoppelsini futures trader At 10 a.m. On Thursday So they will go through how they trade and they will take life positions. It is in demo so you know and So you can learn from Not just about order flow and how to analyze them in the live market But then to trade as well from different traders. So it's a very complete education We also have Tom B who Presents every day. It's live analysis as well on Just just after this webinar finishes. Okay, so about 11 30 a.m. East coast time. All right, so Let's jump we're gonna jump right into the markets here and look at the SNPE mini Just go through disclosures very quickly here But it is important to understand what this is all about here the 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 Wrists disclosure trading futures equities and digital currencies involves the central risk of loss And it's not suitable for all investors past performance is not necessarily indicative of future results All right, let's jump in and any questions and we'll take a look here at the SNPE mini we can look at other instruments as well and Just off the bat here. What do you guys notice? What what do you see in here that is happening on the bid on the way down? All right, now we saw this kind of activity last Friday It very notable as the market continued to go down And then due to that activity we were looking for a move back up Later in the day later in the session It did happen price did continue to go down It did happen though, and then we're looking for typically when we see such Large amounts of not only iceberg orders, but just orders on the bid Transacting we look for typically like a multi-day Swing high so yesterday was an update and we were looking for some specific price levels to To trade and they did so we can go over the higher time frame Let's just dig into the order flow right now And we'll kind of cover a little bit of of yesterday's as well a good morning Rob All right, so Yeah, well it was aggressive selling McStockster true, but the aggressive selling here is only is what are they selling into and are they staying in the book? And are they getting filled who's taking the other side of the trade? This is you know typically when you look at Your Candlestick charts or volume profile or whatever. It's just volume. It's just transactions that you're looking at You're not looking at the other side of the trade And that's really just it's missing like you can see it on the chart now. It's just dark here There's nothing here So you don't know what they're trading into and what that condition is here when we turn the heat map on now we know Here they got filled In here they got filled here. They got filled for sure here They just got filled and it looks like they're just about to trade into 3,900 the figure here And so we're watching very closely this we're also looking at icebergs as well. This is these are hidden orders They're not in the order book Where are they getting filled? Well, here's 232 right here And so let's just zoom into this area because it's it's pretty interesting They are front running this high liquidity here. In fact, they're front running maybe even themselves Who knows it looks like they got filled here as well though or the one one tick below here at 3903 Okay, here this iceberg kicked off here And it's not a big one, but I just want to show this To understand the condition of what's going on in here and how larger players You know kind of understand some of their behavior and what they're doing so for example, they are front running here But not showing in the order book. They're using a hidden order or an iceberg order And they're getting filled in here and it was fully executed As you can see for 232 contracts right here All right, and then I'm sorry right right up above it here one one tick Let's just take a look here. Yeah, so they got filled one tick above it here And then there's high liquidity underneath here at this o3 level. It also Transacted Right, so a lot of liquidity just got filled in here hidden liquidity as well as just liquidity. That's in the order book And we saw a nice little bounce out of that area But that doesn't mean like, you know, we're looking for a huge bounce the other way I mean, it's a small iceberg, but what we're what we're noting here is Beautiful, look at that. Look at this Ignition algo in here now. I'm not gonna call that actually ignition algo. It looks like this guy is a Well, let's see if he did he pull or did he did he trade? Well, he looks like he traded here So it will cover that in just a minute here, but seeing this kind of activity in here gives a lot of insight to How the others are playing their hands like in a card game or something just starting to understand like okay? I saw that slide a hand in here This is this is like it it right here with these icebergs one tick above high liquidity and getting filled in there All right, so here we have a move down Into high liquidity all the way down and it has not filled the high liquidity here at 39,000 or 3900 But I'm looking for it though Looks like we found a few buyers in here at the moment. However Let's look at structure. Did we break the structure here? No So looking for a retest back down into 3900 here Okay, and probably through it as well. There it is. There's the move and probably through it Lots of stops triggered below 3900 186 now Now we're gonna we're gonna kind of watch this here now. I don't have any higher time frame Context at the moment. I'm just watching what I have here in book map So we'll have to zoom out or you know look at the candlestick chart Obviously, we've been looking at this level here for a while at 3900 But I want to see if we reject down here come back up above 3900 and then see a lot of buying Right, then that would be a false breakdown And a big one here. I don't know if that's gonna happen here. It looks like they're gonna continue And we look for a couple different things for that continuation in this move One is high volume and the other is price movement at the same moment, which means basically The that Price is moving away from a previous consolidation period here And now we have to be a little careful on this one here. It's already it's moving a lot already So I'd look for you know When we see these kinds of point moves now we have some volatility in here But when we see these kinds of point moves like this is almost Looks like six or seven points here. We usually see more exploration to the downside here. So still looking for that Here they are and let's see if they can push it down into 3890 Okay, so we had some home sales data all right Well web trader or maybe they're building a position take it longer. Let's let's zoom out Let's look at our higher time frame levels and context Okay, the tenure is also going down. All right. Thank you Good stuff Yeah, watch those correlations watch your your US dollar or you know if you don't have DXY which can be expensive because it's on the ice exchange. You can also look at You know the Euro dollar which is like I don't know 60% of it, right something something like that And and dollar yen in your currency futures. All right, so yeah, we're still continuing lower the case That's the primary scenario here because of the the Large move here and large volume So but we're watching it We're noticing that these areas here of high liquidity getting filled and that's just one thing to just note right now The next thing to look at here, so this you know as a checklist maybe you want to You know kind of compose one And your checklist one thing would be to just note this to begin with who's taking the other side of the trade Are they getting filled and What's the context of that now we look at we look at price structures higher highs or lower highs and lower lows Etc so start to understand the market structure and so far you can see even on this pullback here That we just made an equal high here. Well, you know, maybe they'll come up and and Trade above it if they do then I'm looking for right back to the figure here at 3900 But I don't see it so far if we see enough sellers down here at 94 I'm looking for the follow-through down to 92 and then at 90 here So here they come looking for the continuation here Structure is still hasn't it's not telling us anything yet Okay, in fact, this is your low volume pullback even with this by volume in here It's still a low volume pullback Compared to all of this in here. All right, so anyway, I'm gonna Let's let's take a look back here At the at the bigger picture It's really important to understand the bigger picture time frame and levels and market structure. So Here's the daily here on the on the right side and You can see here's yesterday's activity here and then here's today's now. We're already down below yesterday's Swing low Alright, so yeah, and this is a You know, we're we've already kind of filled the gap here as well This is a full filled a full gap fill and we're still below it here Okay, so here it is on the 50. This is the hourly. This is the 15 minute here and Yeah, yeah, I mean boy like I'm not really sure like not not really sure I know that this is some good selling so basically I'd be looking for the seller in the momentum to continue And then look for this other level the next level would be down here Somewhere, but it's a range, you know between maybe 84 and 74 down here I really like 74. It's a swing. We see another candle in here on the 15 minute so We'll see if we can get some momentum back down into that area and then maybe get a bounce back up We can also see the gap here From the morning But I don't see any buy enough buyers to come in yet to move this back up If we do get the buyers to come back in I'd be looking for it to come back to 96 or so or I'm sorry, oh six thirty nine oh six Somewhere around there oh Five oh six and then maybe continuation to the downside So just we don't know we're looking at these levels in here And we're just kind of noting some of these important levels now What we want to look at is the order flow around those levels. Is there any questions on these levels in here on the higher time frame? And what we're looking at here very very simple levels We're just looking at wicks basically where there was buying and selling and we're looking at the reaction The context in those areas in here So for example, you know, you see the move up here and then look at the context All right, we found a lot of sellers. They moved it right back down to the middle of the range paused and then right back down broke the range and continued And that's you look at the big red candles in here And that's just reading the order flow on on these On these candles and starting to understand that context in here And so what you know, we're just very very simple stuff looking at ranges in here looking at patterns So what you know, this is a continuation pattern that and a lot of chop in here a lot of back and forth It's making slightly higher highs in here And then and then it broke Then it came right back up now. This was Friday and we were watching this on the way down and then we were looking for the move back up to 3900 here and We got that and then we're looking yesterday for this move higher We're looking for The move up into this area here. It was around 75 Above this swing up here Right, that's what we are targeting and we knew there was liquidity up there as well So we matched this higher time frame in this swing here with the liquidity and book map And that's what we were looking for And we got up there yesterday a bunch of times as you can see and look at the wicked move Over the overnight and the in the cash open All of this up here is going to be trapped basically And and now we're seeing that the puke here to the downside I mean you can describe it that way but anyway Very very simple stuff in here, you know, we're not looking at anything very complex Just understanding context of price and structure Does this make sense to you guys do you want me to Spend some more time on understanding some of these candlestick charts in here just just because We're using basically or at least I am covering basically the same ideas in book map on very low time frames and then Pulling that up into these much higher time frames as well Okay, so here is our we were looking for that low volume pullback And we just left off here I don't know how long ago Let's see here. Let's take a look Make sense. Okay So let's see Yeah, I think I think I called this a low volume pullback. Yeah, I did okay So because like even in here like we didn't break structure. See how the structure held in fact, it made lower highs and Didn't really make lower lows here. It made kind of a you know a little bit higher But it's it's kind of equal And then here's the follow through to the downside Okay, and that's that's what our primary scenario is here and and why why was it based on on that? Yeah, MC local. Thank you. I really appreciate that and and web trader. I'm so bad about understanding These higher time frame candles. It's really just we're kind of we're just going over order flow And applying that this logic or understanding and context Into the candlestick chart and that's it And an understanding ranges as well We just can't see we just don't have much insight in the candlestick charts We don't know where the volume traded within that bar. We don't know what the order book look like, etc so anyway, the Primary scenario here was continuation to the downside. That's what we're getting And we look for this to continue until we see something different Okay, and what what it would what would look different? as What would be okay, so that one of the things we noted when we first started the webinar is We noted a lot of liquidity getting filled on the down downward move here And let's see our 06 area. It's about here and We noted the move. This was a pretty powerful move here And we noted that the volume is pretty strong as well Hey, and the structure then the next the next thing to take a look at is the structure and within that structure the volume and also the context of the the order book now This is in hindsight here, but we you know, I didn't cover this part here on the liquidity heat map But let's just go through the checklist here First we just noted that they're getting filled. All right, great But there still seems to be more selling pressure by the aggressor here and this was very typical with the Strong volume and also a strong move. So they're moving it away. They're moving the market that this market is marking down Okay, if you're looking at Wycoff a lot of you guys look at Wycoff and just to kind of get a get a feel for it and so We know they're getting filled. However, we know this is strong move and we we know that it's The point move is strong. So in this consolidation period in here You guys can see the pullbacks in here and you can see the buy volume in here as well in these pullbacks Now look at the buy volume compared to the sell volume Okay, first off, here's the big sell volume and it's consistent and Thorough all the way down with it with a strong point move. This is what we look for for a move Okay, note note this volume down here. Okay, so let's just in fact Yeah, let's just kind of hide if just don't don't look at this volume here look at this little range in here And then look at this volume here Okay, now what is this volume like in here? Well first off the point move isn't so strong and Secondly, yeah, the volume is not too bad in terms of consistency. You know, here's one two big three three dots here But you can see we came back up and retested this area and see how buyers can come in on the other side here And try to lift it and test the other side of the range here So this is where we can find that we saw this many times yesterday on the up move We'd see volume like this and then on the other side They come back into the range and then move it and continue to trend. So so You know, this is this is we have to be kind of careful of in here This we're not really Sure about the continuation until we see more of a point move Away and then trade back down into like 90 here So it went back and forth in here and then finally finally we see sellers lower highs look at the volume up here Not much buying up here are selling coming in not much buying again up here are selling coming in Here's where we're looking for the break and a nice follow through to the downside Okay, so again looking at the volume within the structure And then the other thing to note. Okay is the third thing and final thing here is to look at the offer And the bid But look at how they're offering at a lower level here and that and no one's tangling with these offers up here the supply So we get the follow through here to the downside Okay, now look at this in here see how this this they tangled within here and look how we're breaking structure now Okay, at 80 here All right, and here here we see the buyers coming in Okay, so they broke this small structure and they tested back up into here And we see even more buyers and they're starting to break this structure here. This is looking great To come back up to here Okay, or right here. I like very much 92. They're still looking for it then Back move a move back to 92 here Look at the buying coming in here all right, so Yeah, we can we can take a look at this in here and let me get to some of these questions in here Good morning Corwin. Yeah, maybe we can take a look at NQ in a bit Robert do I make my entries based on the one minute chart or higher time frame? Oh, I mean it really doesn't it's not so much the time frame. It's more about the condition of the order flow That that I'm looking at so Yeah, that's that's really kind of what matters for for me and Sometimes on a higher time frame. It looks just awesome And it just doesn't happen as often so what we do in these in these demos in these webinars here in our analysis We're looking at we're trying to look at as many examples as we can so we to get the points across Okay, so like right here. I'm looking for these sellers to try to hit down into 80 right now Okay, and this is where this move began here and Earlier I was looking for 92, but you can see sellers came in and there's more selling here So I'm looking for them to test 90 or 80 here And they're just about there Okay, so look look at the structure here though, too And this is where those buyers came in so this is kind of kind of a bit of a battleground here at 80 Janna we don't know if it's profit-taking or not. I mean you can kind of assume sometimes like a low volume pullback it's more like profit-taking but We don't need to know We just need to know about the the transactions in the relationship of price to those transactions Okay, so we traded into 80 a little bit of a bounce. Let's see the retest here So now the retest here. What if we don't get money? We and we're not right? I'm looking for buyers to try to trade it back. Let's see if they can trade it back to the 83 here And then if we get enough buyers at 83 looking for 85 See see how we had no a very little selling down here, right? And we're starting to get some buying up here Now they haven't broken the structure yet Right, so we're not out of the woods yet But if we get our buyers up here the likelihood of them breaking the structure is much higher and it's happening now It's just happening very very quickly Okay, so it's hard to kind of position yourself for that But this is what we were kind of looking for this scenario here. It still hasn't traded 85, which is funny I'm still looking for 85 to transact. There it goes Okay, so there's our buyers Right now, how did I know that? Okay now this happened very quickly as you can see It was a very very quick move here and a iceberg order as well as a stop run here But let's just go over it. Okay, so we we're looking for a few different things in here We move down to 80 This is where they broke the structure on the smaller time frame here at 80 as you can see right here We came down we were looking for the move into 80 And we got that here and they traded at 80 this this liquidity here it transacted And then we bounced up. Okay, nothing shaken so far. Here's our retest here This is before that move happened Where where are the sellers now? Well, we would assume That there would be more selling in here It's a it's a low volume pullback We're looking for the retest back down here. We're looking for more sellers and we're looking for continuation Well, there weren't any sellers So we rotate back up and we start to find a little bit of buying in here Okay rotates back down again. Now. This happens a lot in the S&P of the rope these rotations and it kind of retest areas and you know retest the other side retest back, etc and Now we're looking for our buyers Potentially to come in here and then move it up into Yeah, top of the range here in 85 And and they did okay, so It was actually easier than real-time than looking at it in hindsight to be honest Right, we had an inkling that was something was going on in here due to this right here This this move right here the retest Where are the sellers? Oh, we're starting to find buyers here instead. That's not really what we're looking for if we're looking for continuation so if we get more buyers up here and we didn't on that rotation and We're looking again though Up here at 83 if we get more buyers up here. They're likely to then trade up to 80 85 Hey, and maybe even 90 Okay, we get to 90. We didn't quite get to 90. No, we did. We just got to 90 now Hey, any any questions on that read and Putting these pieces together and understanding the price action within here in the order flow No, well, I've seen people plug in options in here Carolina They're so thin though and the the spreads are usually quite wide At least from the examples I've seen that it doesn't really help So the underlying though is going to help you a lot With the order flow in book map a lot You might also be interested in looking into some of our partners like spot gamma Brent Kachuba over there at spot gamma They they have some some excellent products and Do some excellent work over there Can I set draw levels to match your chart? Yeah, sure I mean, I'm not quite sure what what you mean, but I can draw on the chart here Using the drawing tools here in book map Okay, use I use them all the time Like we're looking that's why we're looking for this 80 level right in here And let me see if I'm sorry if I missed some questions back up above Okay, thank you. Thank you for the compliment here trying to sponge up and soak up as much as you can Yeah, well, we're here every day so You know lean on us here for and ask questions Come to our discord chat room. There's a lot of really great traders in there and They can answer questions for you as well And then don't forget Tom be later in the afternoon And you know, he's gonna go through a lot of things in in in tremendous detail Okay, and that's volume profile now that's his way of trading and Just to to understand that that's volume profile like I'm going over Something that's a it's a it's maybe it sounds more complex, but it's it's not it's really I try to make it very simple very basic of just talking about market structure and Probably the most basic way to go over market structure is it is probably closer to something like Wyckoff about understanding consolidations markups or distributions and Markups and accumulations and markdowns. I mean, I don't know I use all these terms Basically, we're looking at the order flow around certain areas where Price seems to be pretty happy and it trades and then something happens like here something happened, right? What happened? We found buyers come in here and they lifted this really quickly and And we retested back down to where those buyers initiated And then we saw a retest back down here So this was an important level here at 80 we noted it and we noted that this was kind of a Little bit of a battleground and that's when we saw the insight. It was here And that there was no selling down here and that was odd This this view looks a little bit better. You can see a little bit buying here and they did break a small structure here So maybe that was a detail I I left out But it was really and that counts that counts. There's there's buying kind of back up above this area here The retest back down here. There's very little selling And we rotate back up and find a little more buying So that's when we're starting to like hmm. Okay, if we can get back up here and find our buyers we're looking for 85 and Boy, they came in and then after seeing this kind of strong move in here You'd be looking at some of the swings but also some of the liquidity To reduce some risk or take some profit or just see and that's trade management But just to see where price might go next and that's what these webinars are all about by reading the order flow and then understanding the order flow and then where price might go next and It's it's it's pretty simple. It's not this is not complex It's just by understanding the The condition of the orders in these areas here not just the transaction Transactions and the transacted orders, but the the order book. All right, so let's see here Okay, here here. We got our sellers coming right back in All right, so let's see if we get this in real time here. So good selling there on the second leg I'm looking for them to drop it back down to 80 here. Okay at lower highs More selling down here more selling on the second leg. So looking for continuation now This is very different than what we saw over here Now we don't know. I mean so what if buyers come in hand over fist above like 86 right here? Well, then we'll probably get a squeeze up up up into like 94 or so Right, but the primary scenario right now is we're looking for continuation into 80 here Now see see how see how the buyers are actually doing that see how they're testing this is there It they're pushing it up here. Can we find some stops are people like? You know, can we shake some people out or you know, are people compelled to buy basically? forced to buy Up in these areas and the market probes and tests those areas here and it's starting to find them now Okay, so this is our secondary scenario here and it traded up into here We should see some stops triggered nothing nothing significant yet, which is funny So it has to probe higher to get stops. So it has to come up to 94 Okay liquidity up here at 94 or above some of these other swings in here and get some stops Still hasn't found them Okay, so that was tricky in here We noted the two different conditions though even before it plant it plant panned out here It's like primary scenario is looking for 80 in here. I Would say the same thing And then noted and then we saw this I was like, okay Well, it still looks pretty good here hit hit down to the the below here 83 again and then 80 and then You know, we see the buyers come back in Here after after this move And then yeah looking for top kind of tops of the range here and then this was our secondary scenario Okay, back up into these areas here. I'm surprised it did not come back up into 94 but So we can look at the market structure in here as well and what do we gain from that? It's a little convoluted it traded up to this swing here. It didn't go above it though Okay, so if we come back down here and we get our sellers here Okay, this is looking great for 80 and it's probably gonna go fly right through it We're right down to it Because we're getting our sellers down here now And looking for the continuation Tricky that even this is a second leg here and you can see there was no selling on it So so buyers still fighting it here So anyway, you know, this is why we go through these multiple scenarios here And and this didn't play out. It's it should have right in here. It looked really good that you know We we we have a kind of strong move here and very consistent buying or selling. I'm sorry And then retesting back down here You can get the inside actually here There's no selling here we get some buying here But here they can take it through and they didn't we come back up in here just like our previous Secondary scenario and just when we're looking for 94 and then we get the buying up here now They're testing back up to top of the range here at 87 And they have the potential now to to come back up to top of the range and then finally to our 90 90 Well, yeah, let's just call it 92 to 94. I'd love to see it trade up to 94 But I don't know if we're gonna get that And we got a nice stop run in here, too Oh, yeah, I Robert I make my my Entries and exits on based on the heat map. Yeah, tremendously. Okay, we're back down here not seen a lot of sellers And and this is kind of tricky You know, we're there they're they're selling they're kind of nibbling away here But we could get a quick snap back to 85 here and you know when when it doesn't look as clear You know, I I don't just I kind of stay away from You know looking for it's just less likely That we're gonna get the follow-through So I kind of like to stay away from it Until I get that clarity in here The clarity in the order flow should go along with your levels of interest and that's where you know You can build a nice edge Simple way to kind of demo that I think might be with the candlesticks We can look at This is a one minute. Yeah, so one minute candlestick chart. All right, so here's our retest Okay Now if I get sellers down here based on these two these two candles here if I get sellers down here I'm looking for the follow-through Looking for sellers right here at 82 and I see I'm not getting them So at my hands off now if I get the sellers down here at 82 Then I'm looking for them to trade 80 and then maybe below Okay, and that would be based off of this big red candle here and they're selling And then This is the retest here. I'm looking for the retest back here and I'm looking for sellers That scenario didn't unfold So we see we can see what happened Buyers came back in above here and now they traded back up into some of these wicks and in previous previous highs up here Okay, so this has been you know, we've seen that Is more of more of our kind of secondary scenario playing out more the last two or three or four times All right, so now big rejection above now on the candlesticks only let's just kind of dim the heat map a little bit On the candlesticks only up here in this little range in here And you can see it's actually a bigger range And that's market structure And in fact if we can get more buyers up here in the top of this range up here Then I'm we're looking for back to 94 95 All right, so now seems to be rejecting Now I'm looking actually kind of away from the candles a little bit here I'd be looking for selling here at 87 to try to push through and I know that's point of control Because our blue line is there Which can mark up the point of control and it's still holding All right, so your candlestick pattern basically what you'd be looking for then is you're looking for sellers down here, right? Here at 86 if you get the sellers down here at 86 We should get the push down to the lower candles here around 81 and a half or so here. They are Okay, so sellers now should be able to Push back down. I reject it up here. It tried a few times it retested and it still didn't find enough buyers So we're looking for sellers to retest this low or these swings down here And now we're looking at the volume in here and the volume looks pretty decent Now what about the heat map? What are we getting from the heat map in here? Not much right now to be honest Here's a little bit of liquidity up here at 89 and a quarter But it's really more about the target down here at 82 and 80 Okay, now look at our volume in here right now If we looking for it here at 84 and then the push to 82 and 80 But that's it right now. This this in here here. Let's just cover it. This in here is not good We're not getting much insight out of any of this down at our level of interest We're just not get this looks pretty good selling here. Okay, but in here This is there's there's no kind of commitment here from the sell side or buy side and The heat map is not helping us out either Okay, so we don't have insight at our level So we do nothing Okay, now the follow-through was down to 82 Hey, but that's okay, and still still looking for 80 But now 80 Let's just let's go over that in terms of candles down here This is where we saw the move to the upside. So this is where the buyers were down in here And this is these are the wicks in here. That's why our primary Target would be right around this kind of 81 and a half 82 area here Okay, not not 80, but the follow-through should should be down to 80, but We just noted we just we want to get down and retest just retest We're we're trading or not trading. We're it's not a trade recommendation. We're looking at these areas in here And look we're looking to test and probe it And they did And then you can see the buyers come come right back in test the top of these wicks up here All right Now this whole thing is just turned into a big kind of consolidation mess in here. Okay, here comes another big red candle Do we get our sellers down here? Let's take a look No Another rotation Do we get some some there they are there's some sellers Okay, let's get into 80 and let's see if they can now move it away from 80 and Continuation now. I think we got enough selling in here now here. They come and now let's take a look at the heat map though To so 80 just transacted look at the selling see the difference here. We're looking for a continuation at this point now We're looking for this to drive lower Into areas of lower liquidity 75 and maybe 70 here Now let's just take a take a breath though and take a take a step back Hey, so anyway first off any questions on that and see the distinction here And after looking at this whole mess in here and all this back and forth in here now we had something To kind of you know hang our hats on and look for the primary scenario to trade or follow through I should say Okay back down into 75 and then maybe 70 but what we want to do now is take a Because we're down at at lows of the day here and these wicks down in these candles down here But this is enough selling to explore further So we're looking for continuation and probe 3870 down here Okay to trade down to where the buyers are on on the bid down here Okay, so good good that we didn't kind of veer veer our head away for a moment and we saw that And we're looking for the continuation at that point It's strong selling in here. It's not really moving the mark. I mean the move is good It's just kind of taking its time. It's not a really quick move, but that that's okay The move is strong And the volume is strong So, you know, we're still looking for the continuation here now it's moved from Well, the move really started up here on 82 Down to 75 that's that's plenty of points and plenty of strong cell volume in here So we're gonna get our pullbacks And then still looking though for more selling on this Let's see if we get on our second leg here and then the continuation All right, but I want to take a breather here. I want to step back here And and cover the higher time frame here Okay, so this is what we're looking at earlier And we noted it that This is like we're kind of down into the these wicks down in here That we kind of talked about it as a range like 80 to like 74 or so and that's where we are right now And this wick here on this 15 minute right here if you can see it. I know that's might might be hard on the On the eyes and so we're and we're just testing it now So we're around this kind of 72 ish level and just testing that now All right, so Yeah, you know, I would look for a probably Some buying at least some profit-taking. So maybe we're gonna you know kind of bounce around a little bit in here and Then get continuation the next level would be on this hourly chart. I like it It would be down here around 60 and this swing here and then let's look at this cluster in here Okay, same ideas as we were just looking at in terms of candlesticks See the cluster in here and see the breakout So here's where that cluster is in this little area here and the swing of that is around here 42 Okay, and we said also this wick here. So that's around 55 Yeah, I don't know. I I mean based off the 15 minute chart I would like to see the move down here into about about 40 42 somewhere around there Okay, but I also would based on the hourly chart in here since there were transactions down here and And a nice very strong buy move to the upside here I would look for some sort of reaction probably around 55 as well Okay, just based off of the swing and then look at the context the reaction Same down here. Here's this cluster and then look at the reaction So buyers maybe maybe maybe a little bit higher. Maybe 45 47 somewhere in here Anyway, so let's go back. Let's take a look at our chart here in book map Yeah, a little bit of bind. Okay, you can see the candles here beautifully. Yeah back up to 80. That's not bad Okay, do we can go over this again here. I'm still looking for a fade the first test likely be a fade here and then maybe we'll kind of bounce around in here for a bit but I'm not looking for it to come back up into the range right now. I'm looking for this to be Sellers to move it away Hey, but this this made sense in here this this move back up to 80 and here's here's why sellers Red can't big red candle sellers smaller red candle, but you know, they're selling still Wicks on both sides in here We did move lower into 73 liquidity here And then we start to kind of turn around and we start to see buyers at kind of top of this range little range in here right in here We retest and We don't make a lower low here and we then we start to see buyers up here So looking for a push Looking for a stop run looking for the move back up to about 80 in here And that's about it for now And then this is this could be your low volume pullback in here techie girl And then looking for sellers see if we can get more sellers back in here again to continue lower And now that this isn't actually Sorry, I'm calling out techie girl here. It's actually not bad on the buy side It's not really a great low volume pullback here at all. There's some buying in here for real I mean they're here you can see them in the in the dots and the bars here I'm still looking for them to get upended though here with selling and then continuation here That would still be the primary scenario looking for that selling and we got to get it We got to get it right now Not buying we're looking for selling here And this is we're not looking for but there they are all right. So now we want to see them move it past 73 lows of the day back down to 70 or back to Not back to to explore 70 And hit this liquidity down here And not a lot of selling in here right Not a lot of selling in here. So it's still not really too clear. Okay. Let's see if we get our selling here and No, okay sellers, let's see it got some buyers on the hook here now if we can just push it a little bit more All right sellers right here. We're looking for them So basically it's not much of a move here, but this is where we're looking for them and They can't do it. There's they're not showing up Okay. All right, let's see what another retest Let's see if we can retest back down here at 73 and three quarters See how that kept you out of the trade. Okay, did we break structure up here now? We have buying up here That's not what we're looking for but we didn't break structure Here's the retest Iceberg there. Let's see it Now if we get our buyers back up here at 76 here 76 and a half Then likely a nice move back up into 79 and 80 Yeah, it looks like that's what's gonna happen here and a squeeze up to 80 79 and 80 Okay, well, we gave it a shot. We're looking for it. We knew what we're looking for and it didn't show Then we're looking for buyers and then the possible squeeze They started to buy back up here and we're looking for 79 and 80 here Okay, back up to this wick and what's up at this wick here? There's buyers up here And well, we made it to 79 That's it though. I Still want to see him trade into this liquidity up here Okay, here comes the bid look at the bid and we're finding buyers So still looking for the squeeze higher up into maybe now we can get to 82 potentially Here we have nice context See look at the bid look at the buyers and look at them starting to pull on the offer a bit when it comes up here So looking for the the the move higher. I like 82 Yeah, these are quick moves and this is tricky kind of stuff today yesterday. Well, I think was a lot easier More of a grind yesterday or we're looking for that move higher This is just getting upended one One after another we're looking for it. We're looking for it. Nope buyers, okay looking for the squeeze 80 82 And looks like they're even to go for 80 84 85 up here Now the same things though can apply on higher time frames doesn't matter in Fact if we can get if for this rejects up here and we get sellers back down below here around 79 When then we'd be looking for that continuation move that we talked about So this this would be a false breakout In this smaller range This is not a low volume pullback in here Even though this is the strong selling that we're looking for earlier. There's strong buying on the other side in here What we're looking at a low volume pullback would be like maybe price would come back up into these areas here But on very very low volume here, but this is this is pretty strong by volume Okay, so in any way, I get to some of the questions here, but looking at some of these areas in here Again looking at the order flow and in in this case we're going through the candle Example on the one-minute chart It doesn't matter though. It can be a 15 minute candle as an hourly candle or a daily candle like we're doing in here same ideas All right, so, you know We can even see we're starting to get a little bit of a bounce off of this little area in here Okay, there's two two candles in here. I know this wick in here and then this wick over here That make make sense. That was our kind of our target at least now. We want to see the order flow around our level here around the 73 74 73 and so far. Yeah, it looks like it wants to wants to trade higher here back up into this liquidity here 70 or 85 84 85 still And there we go. There's our move All right, let me get to some questions in here Boy, I you know, I can't see a timestamp Corwin. I'm not really sure when you were talking about something there but What does the play right here right now? Wait for VWAP. Yeah, I mean, I don't know. I Again, I think it's just it just comes down to these scenarios here like we're looking for a low volume We're looking for a continuation down here and we didn't get it and we're starting to know it while this isn't what we're looking for here and And then we're looking for this kind of move Or down here. We're looking for our sellers. We just didn't get it We got the buyers in here. We're looking for the squeeze and then we're looking for the move back up into Liquidity here at 80 and then 80 or 82 and then 85 here 84 85 And it that's all That's all in the past right now still looking for them to try to get back up in here into 90 Okay, because this is this is really a key level up here for this action in here is is 90 Mike I think again, I think look at your levels And price price action and then context of that liquidity around that level just because there's there's liquidity there And longer term liquidity, I mean Typically Okay, just typically acts as kind of a target just the market knows that's where there's like buyers or sellers There's supply and demand and the market needs that in order to transact So that longer term liquidity Is you know market the market is seeking buyers and sellers Geo hero. Um, what is well? Yeah, we haven't gone over too much about trade management or Entries and exits in here, I mean That is and and we went through it yesterday And we'll go through it today too. It's a little trickier today And but they these are at least for me it would be very low time frames that I would be looking to trade this Because we're just we're not getting what we're looking for. So I'm just looking for quick scalps basically and It's just because of this webinar here. I mean higher time frame stuff. I mean if if you were trading on a much much higher time frame You know, you'd probably still be in this and you'd be looking for a continuation down into some of these lower levels You might have taken some off here around 73 You know because because you had your reasons for it on the higher time frame on this 15 minute chart on the hourly chart You're still looking for maybe this lower cluster here or 15 minute chart 42 And then also this area here Around 56 or so All right, so that's a that's a pretty big range 42 to 56 but you know somewhere back down into that area here Because these you know on the hourly chart look at it. I mean these are and we gapped So we're still we'd still be looking for a continuation into those levels It just based on the order flow in these You know kind of in in air quotes, I guess order flow within the candles here And then we're we're taking those same ideas though in this one minute candle here Okay, so now let's just see this is gonna be interesting. So here's an equal candle now It made a lower low here as you can see But you know, are we getting we're looking for buyers up here into 90 Are we getting them? Starting to a little bit. Yeah, we should probably get the move to 90 Yeah, here we go And now we just trade it up here to 89 And some strong buying though, so let's see if we can get a bit more and they can hit 90 Maybe 95 maybe maybe we'll get a strong breakout here and trade back up to the figure All right, well, let's let's read the order flow here Here's here's sellers coming in. Here's our wick This is and we didn't make a higher high here. We're getting our sellers here So likely we're gonna trade back down to the lower areas here. Okay. It's already there at 84 Probit, maybe you can get to 82 It's it's struggling now. You can see now. Let's just go over this See the wicks and let me take off the stops and icebergs for a moment, too See the see the wicks So there's our move into 82 Okay, the wicks kind of they're making the structure here or the the candles are making the structure here so We're looking for the order flow around these areas in here and the probe into and to test these areas here and then we're looking for Well, what's the order flow around it? All right, so We broke it now we traded back down into these wicks or these levels down here. That's as far as we've gone It was not able to break this area down here And so we're back up into the middle of this range now and not much insight at the moment We're back up to literally the point of control here. So most traded level for the session And that's where we we're hanging out right now buyers trying to get back up to these wicks here So back maybe to maybe to 89 if they can So anyway, I hope this this exercise here the idea here is to go through candles and start to understand Some of the meaning and the order flow here that then this can be used for your higher timeframe analysis as well And we're looking at it kind of backwards You know We're using the lower time frame to define what's in these candles And then we're looking at these candles on the higher time frame to say like well This is kind of the condition of the order flow In within these candles just based on experience. So we'd be looking for the That's why we're looking for this continuation move here Hey, just by by understanding the the strong move here And then you know looking at these areas in here. We're not we're seeing some slow down We're seeing some wicks in here on the 15 minute chart, but it's nothing significant At this time strong moves to the downside So we're still looking for continuation to the downside Now that's going to be upended if we just see something big in the order flow here And we'll see that we'll see that distinction in here And look at these wicks on both sides right in the middle point of control Boy, you know, this is why we just you need to see something very distinctive in the volume or in the order book or both To move it away from this area here and that will happen. We'll see it happen From the curve. How do I Elizabeth here? Let's see How do I Differential between buying and selling taking place when I refer to buying and selling I'm talking about the aggressor Okay, so the dots here the passive orders are the limit buy and sell orders Okay, so this this is where they're they want to deal down here And they're passive because they they're waiting kind of resting in the order book resting liquidity And they can't really make the market move. They can just stop the market from moving Right, so you can they may sell down into the high liquidity and they may just stay there and absorb is all all of that selling pressure Okay, so we're talking about the aggressor Which is typical That's what everyone is talking about when they talk about volume basically I hear look at the double bottom test again, and we're now buyers on the other side. So looking for a pro backup to 88 here 87 I should call it. This is just total range bound. You know, there's not much going on here guys and And ladies All right, let's see it looking for the move back up to 87. Maybe maybe 90 here. Here's another retest here See buyers up here. No selling here buyers here Looking for 87. We're there looking for 90 here. See if they can get to 90 now This these again are just kind of quick reads and scalps in here But again, this can be applied to much much higher time frames And well, it just it got as far as 87 that was it but it did retest these areas up here And now sellers what if sellers come in? They're gonna retest this area here 82 or maybe 80 Here they come All right looking for them to retest 82 and in 80 here There's these are your range bound trades in here. There it is nice move to 80 Let's see if we get continuation here It's a lot of selling and a lot of selling here a lot of selling here now. That's distinctive So we can get our continuation now 78 and three quarters 77 And we can get our we can get our continuation move at this point It's starting to kind of reveal something in here. We're starting to see who's taking control What's a stop run? It's when you see a sweep of the order book and it's nothing but stops and likely that is people getting Stopped out of their position there, you know when you Place your order you are usually Placing a protective stop to exit the market and then that's where you're wrong and There's a lot of traders that kind of place there's stops in similar areas And you can see what's going on in here in these ranges is It's probing stopping out people on one side probing the other side stopping them out on the other side Yeah, mr. Krabs. What a difficult trading day. Yeah, I mean we're not I mean we You can see it's been working. I mean we've been we've been reading it correctly. It's just been very very small time frames and And just didn't like some of these some of these moves in here So So that's one way, you know when you when you when you don't have the clarity just stay away This looks good for continuation right now guys. I'm looking for these sellers in here So I want to see them Now continue into 77 and then maybe we can get back down into the lows of the day here 72 Right, so here's what we had and we knew it we talked about it selling cluster here these little swings in here another selling cluster and Down below here Right, and then here's selling again Okay, that's not playing out the buyers are just they're gonna squeeze people right back again and We will look again though and see if we come back down into into this kind of zone in here around 80 to 81 So this isn't yeah, we're not getting our continuation right now In fact, let's sit. Let's take a look at this and let's see if we can even look for an opportunity For the move back into the range okay outside of the range move Rejection okay, so it's nice nice squeeze actually Beauty beautiful squeeze. There's our short Squeeze right there our stop run Now let's see if we get rejection up here and a move right back down to 85 point of control or You know maybe down to this 80 kind of three area here looking for it and Then we're looking for sellers down below 83 for the move back down to 78 and continuation Yeah, that's correct MC local stop runners when price moves to trigger stop-loss orders Typically, I mean like it's we just know that they in our in our indicator. We don't know if it's a stop loss We just know that it was a stop order All right, so we're still looking for this scenario here So this was the squeeze back in the range looking for a sellers here guys now We're looking for the continuation move 78 down to maybe 72 here Okay, so that would be lows of the day here Looking for it looking for that continuation move now They've probed it up here, and this is what I was saying you can you can look for trading it back to point of control and Staying with it here for for continuation So, you know, I didn't really see an entry point in here for me at least For that to happen Except for a way down here when I'm looking for that follow-through right, but Anyway, it would be kind of a leap of faith like you know placing your your order up here Yeah, your limit cell and Looking for that continuation move here. I'm still looking for it Hey, it did a is it probed it it hit stops You know looking for now the sellers to come in looking for our move into There it is let's see it There it is 78 and then now we're looking for a continuation now We want to see like, you know, we had some insight here sellers again sellers. Okay squeeze more sellers here again and Now let's see if we let's see if they can sell a bit more here and get the move down to 72 Looking for it here at 79 looking for our sellers Okay, so and then here's another one too Now you have to do your studies on this Your low volume pullbacks in here and this is one of them it did it twice in here and we didn't we didn't find a Well, we didn't find too many sellers yet I'm looking for them though and then this continuation the low volume pullbacks a little bit of a leap of faith as well Unless you want to get in right here Right when you start to see these sellers come in It's a leap of faith because we don't know if it might squeeze really high and you don't get a lot of orders in here We're looking for exhaustion on the buy side here So it's more like you're looking and a lot of times you don't get a retest here on a low volume pullback It's one and then continuation. It's just one pullback here It kind of chopped a bit and then we get the continuation here Okay, but you can you can place I mean you have to you'll have to do your your studies and you'll have to look at it and say like okay is it worth it to Try to place a limit order in here to catch it, you know on that low volume pullback Then looking for that continuation I'm so bad after you see a nice stop run like that. Would it be logical to place your trail? To trailer stop if you are short Well, I mean we already kind of knew today like you know We're looking for the continuation down here one more big big push here and then we got the continuation So and we're still looking forward to continue here and you know, it may not work Um, I don't I don't really like trailing my stop. I'm so bad I I kind of loathe loathe it. I always get stopped out I'd rather just take profit and At my level and at least I did that right, you know Now, you know if you use it on much much higher timeframe. That's a that's a different a different way of managing your trade But yeah, I really I dislike it I I don't want a trailing stop to dictate where I want where I want to place my order I'll just move it manually down and I like to move it down to a point where where am I wrong? Okay, so like for example in here if it stopped stop runs up back up above 80 two and a half here. Well, then I got this wrong Right. I'm looking for continuation. I was looking for here's my lead low volume pullback I'm looking for continuation and then You know place my stop maybe maybe up up about here or so Because it should work. I'm looking for it to work if it doesn't work. I got it wrong and that happens all the time But you can see I mean we were going over all sorts of trading strategies in fact Okay, order flow reading and now we're kind of diving into trading strategies So, you know One is range bound strategies. We talked about one first one is directional strategy. We talked about and then range bound and then squeezes and then we talked about Another continuation within the range in here so, you know, we had this we had this This unfolded and then you can trade it back down into At least back down into like, you know 85 or like kind of bottom of the range here, maybe 80 This where to get in on that is a tough one though Likely I would be getting in somewhere around in here, which is a you know, as you can see is pretty pretty horrible entry You know kind of catching the tiger by the toe would be placing it up above or along with some of this liquidity in here and You know, to me it just is scary because Maybe they continue to squeeze since some pretty pretty good Pretty good buying here's another way. Okay, here's another way to looking at it This is a this is a stop run up into high liquidity If you can look up look look at it here and look for the selling in here and there's not a whole lot It doesn't really give you much Okay, and then we'd be looking well, here's the retest now look for the selling again in here. Do we get it? Little bit. It's not much. It's not really helping that much But yeah, we'd be looking for the move back down into 85 and then down to here top of this range in here 83 And then bottom of the range here 80 and then what what I'm getting at here on this strategy And I like it a lot on this setup in here Is the it's the bigger picture? So this was your this was the squeeze and then you're looking for the continuation after that Yeah, so you can see like a Right back up in here So it's really struggling to continue here. So yeah tricky Stuff back and forth in here Again, here's our double bottom pattern in here You can see selling Some selling some buying it broke structure. Okay. This is kind of important to note Selling Not much selling not too much buying up here come back snap comes back down Not much selling looking for buyers back up here, and then this is where they pushed it And they got back up above all of this selling here the squeezes on Looking for the higher liquidity up here and looking for the move back up into here as well And also kind of these little areas in here And we'd be looking for liquidity in there to match. All right, let's see if we See how we're see that there's kind of a stop run here and see the buyers here looking for sellers below it Here they are. Let's see if they can trade down back down to 80 now In fact a kind of little misread on that. There's kind of a little ledge right here It's just test it's just probing and testing this little area here at 82 basically right now. All right Let's see though. Let's see if we can get enough sellers down here around 82 ish Then we'll get that continuation There there's look at look at this up here. Hey very little buying and now it's starting And they're starting to buy a bit. Okay some selling Yeah, it's just it's kind of junkie here All right, let me get back to YouTube Questions in here Guys if you if you like this Give us a thumbs up Give us a like if you can It's much much much appreciated and we're you know trying to Try to help you out as much as we can in here. Oh, thank you. We also have a Great web support website support Excellent. Yeah, Nick. Nick is great. He's in there helping out. They're all great. You got Sandra. You have Elena All right, you have Nick and you also have Rafael and boy like their patience is is excellent and Yeah, they're in their support is excellent. Let's look let's look for the break here Let's see if we can get it here. We're at the bottom of the range here We've probed up here now. We're probing. We've probed the bottom of the range here I'm still not seeing it But let's see if we if we get enough in here at 82 and a half and you can see we're not Then we look we look for the break here In fact, this is this is that double bottom yet again and then buyers here looking for the move back up to 85 I'm still looking for it to fade 85 though come to come back down here. Yeah, can't can't do it Back to the top of the range What is an iceberg miles? Yeah, just it is a It's a hidden order and it's in the order book here Let me let me demo demo it here and hold on it got lots of questions in here. Yeah, John. You got it Yeah, it's a hidden order it's it's an important thing to understand here and the stops and icebergs now Interesting thing here is like stops and icebergs indicator for MBO for futures in here Guys, let's let's see if we get sellers here We just got another move to the upside, but I want to see sellers below or right around this 86 and a half Same idea as before same idea back to you know 85 and then bottom of the range here They come Okay, see see how we want to see selling pressure below this where these buyers came in All right, looking for them. Let's see it and let's see them push it down to the bottom of the range here Look at the candles nicely lined up here. We have liquidity here. We look for the test to this 85 and a half it's got to get through the point of control and No can't do it can't do it. So all right. They're starting to pull a little bit here. Let's see if they can Now I don't like it like it, you know They're starting to pull here a bit Yeah, here we go. All right, so they've got it wide open now Let's see the sellers and let's see the bottom of the range here There they go, okay back down to about 82 There we go beauty All right looking for continue still looking for continuation looking for 80 again. He's been an important level So looking for that. Oh Guys, I'm sorry. It looks like it's Tom B's time to time to present here. The European close has kind of come and gone Let me point to like where you can find out more about icebergs. They're hidden It's liquidity here. It's like liquidity in here except that you don't see it in the order book and The stops it or the icebergs indicator that we have it works on market by order data only for CME group futures and You need to have rhythmic data no way around it the What you'd also need Well, you need to get the indicator as well it works with global or global plus okay, so You'll see where it starts to transact And let me demo it here. I'm still loading Here's here's an iceberg that's still active in the market here nine transacted down here around 80 And just just one transaction over here and they they're still in here. They still want to be a buyer here But they're not in the order book Okay, so that's what it is And then I can yeah, you can look on our on our knowledge base as well to find out more about it Okay, Johnny you're looking at V pox and all sorts of other things for market Our volume profile Yeah, some of the things you're mentioning here. That's Tom's way of trading. So what he'll be up next So what stay tuned that will this will redirect you right right to that? Into that webinar and Tom will go for the rest of the afternoon Great Joe. I'm really really glad this is helping out. It sounds like you you got book map. Excellent Yep, yep. Yeah, Tom is a big help for us all in there Yeah, we do have the minutes. I think are tomorrow aren't they? Wednesday Matt an iceberg. It's an iceberg order And that's just how it is. It's an order type. It's like using a limit order except you're using a hidden order And yeah, it's the CME offers it allows it Guys we have something else really special for you. I'll show you here so Upcoming streams here. So I'll end here in a few minutes and then Tom will be next Hey, and then we have a futures trader here Carmine Rosado You guys should come to this. He's great. He's going to talk about his supply and a Demand levels in here. He's an excellent trader So Yeah, it's a protrader webinar here. We're not doing a protrader webinar series We're actually going to do a crypto webinar series later All right, so what this this this kid boy, I You know, I don't know how he got his trading experience, but it's like he's like a veteran trader and I Very very smart guy All right, it's gonna be great. I love what he does. You guys should take a look at some of his videos out there so Yeah, anyway, you can register for that it You can come to our discord as well. It's gonna be in the events In discord, but it's it's broadcast on YouTube as well. Yeah, Carmine's Awesome, I mean a very very concise with his explanations as well Yeah, thanks Doug FOMC meeting minutes are tomorrow Excellent. Okay guys, I think we're all set then so Yeah, if you if you like this, please give us a like and a thumbs up there for this this webinar It'll segue into Tom's and then come at 430 East Coast time after the market closes for Carmine Okay, it should be it should be really nice All right, we'll see you then. Thanks everybody and we will catch up with you tomorrow with Jay trader and some live trading Okay. Yeah, take care everyone. Bye. Bye