 Okay, good morning, everybody. Welcome to the book map live trading webinar. This is Bruce at book map and We do live analysis Monday Tuesday and Friday Every every week 10 a.m. And then we have live trading with Scott With J trader on Wednesdays. He's a stocks trader 10 a.m. And then live trading with Scott Paul senior futures trader on Thursday at 10 a.m We also have Tom B. He is streaming live immediately after this webinar Right around around 1130 or so All all East Coast times here and this is a free education that you're getting with book map it's all order flow analysis using book map and showing the You know insights that you can get using the the software By understanding just the three elements on the chart understanding price structure Volume within that price structure and then also showing the supply and the demand the the order book both is historical and current To show where their limit buy and sell orders are so let's jump in Let's go through some disclosures and then take a quick look at the market General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations Risk disclosure trading futures equities and digital currencies involves substantial risk of loss And it's not suitable for all investors past performance is not necessarily indicative of future results All right, let's jump right in. Let's take a look Great chart. Love it immediately Here's why we have a range here in the S&P 500 just around seven o'clock a.m East Coast time You can see this very small range or tight range here. We see the drop And we see some high liquidity comes in here and we see the reaction to this high liquidity is buyers We come back up and trade back up into this area here and then 930 Everything changes as radically as you can see We blast through this liquidity here here and here and then come up into this nine or 3950 area here pretty pretty strong move pretty powerful move here and You know, we see quite a bit of selling coming in now, too Still buyers are in control here in this move, but a lot of selling coming in looking to test this area Well, they're just about there at 30 and maybe a little bit lower, too We have liquidity also here at 27. It's a lot of selling and there's our 30 still looking for 27 And let's see if we can get it Let's just zoom in a little bit closer here and why we're looking for well we knew because the liquidity here and And We don't really see anything around 27 But liquidity here for sure at 30, but we're looking at this price structure here Okay, that's what we want to look at. This is where it kind of broke out from that structure around 2875 We're also looking at this just this little kind of back and forth in here I like this area right in here actually by this swing about 26 and a quarter All right, so we're going to take that information and let's look at the current market and see where we went I have the liquidity marker on the chart here. This is kind of something new that we were I was just testing the other day I'm actually going to turn it off for right now. If you guys have questions, I can go over it with you But all right, so here's our move. There's 30. There's 27 or 28 and What did we say it was like 26 and a quarter or something? Yeah, somewhere right around in here, so let's just mark that up I just I want to show you guys how important it is to understand these areas in here and there it is And we're you know anticipating some sort of reaction in there All right, so here we are in that zone Right, so we started the webinar. We're looking for it was dropping down and we're looking for the move into 30 and you know my point is here is we Yesterday went over lessons Today, we're going to go over a lot more of live analysis in order flow and we already started off with a nice move here Okay, we're looking for that move. It's already unfolded And let's see if we can get down to the bottom of this range here. Okay. We're already there So there's our move now. I'm really kind of curious here I am I am kind of anticipating some sort of bounce here just due to the market structure All right, so let's see we got a few buyers here. Let's see if they can retest back up here to 28 and a quarter No not having it yet more liquidity at a lower level here Okay, and it's pretty it's looking actually pretty good for sellers to hit the bid down in 23 and a quarter No, all right, there we go. So we are going to get a little bit of a bounce there Okay, looking for the bounce to come up to about here Again structure looking at structure Boy, that's it. That's all you can all we can get though. Yeah, okay big selling just comes in And takes it lower. All right. Where else will we go in here? Let's take a look. All right Well, we're going for a cash open here right around in here And that's going to be the next test around 20 liquidity at 20 and 17 Okay, this is a pretty big move here and then high liquidity on the offer immediately Right underneath it or above it here. Let's get our 21 liquidity filled here Looking for it. There it is and lower 20 Look at again see the order book here See this is very different than yesterday There it is again that we're getting down into our 17 Maybe our 15 level. Okay, we just traded into 18 Okay, let's take a look here Okay, again high liquidity bit here on not too much Uh, but they're here at 20. There's a reaction to it Okay, looking for more sellers here at 18 and then the move down to uh, this 16 level here Okay, we'd love to see more liquidity at a lower level yet again down here Or you know around here or not getting it. There it is. There's some all right Let's see the reaction to it though See we see we see some buying interest in that see that Okay, so let's see if they they trade it if they do if we can trade up to here We're going to trade up into 20 Uh, and then maybe we can even bounce a little bit higher back up into 22. There it is. There's 20 Okay interesting interesting dynamics here So we got some high liquidity here at 20 and three quarters, but buyers seem to be interested in it looking for them to trade Looking for this, uh, 21 and three quarters to transact. Let's see if we can Buyers seem to be you know, they're game for it. So let's see if they can hit it here There's a little bit of a push On the bid and there's our transactions great Let's see if they can continue on higher then where we found some buyers now This is the key though. Just the same lessons we covered yesterday High liquidity. This is the event This is what we want to see above or below this line right here Okay, we're below it. So we're not finding buyers above it not yet Okay, here we go. Here's the retest. Do we get buyers above it? There they are. All right buyers. Let's see you lift it up into 23. Maybe even 24 There's 23 And that's it That's it just up to 23 You can see the sellers come streaming in right back down to the bottom of the range Okay, watch this move though. This is uh It's good selling. It's it's not a whole lot of selling, but it's pretty strong and consistent or it's not so strong It's very consistent though We can easily come right back up here And look look at this liquidity in here 21 Okay, now we're starting to find some sellers though So Yeah, let's see if uh if we trade here. It's kind of back and forth in here We're starting to find some sellers though Okay, so if we get a little bit more in here then we're looking for 18 and 17 Okay back down to kind of bottom of the range here. Yeah, I'm somewhere around here And it doesn't look like it looks like there's buyers here. There we go. Okay All right buyers, can you lift it right back to 23? Yeah, uh, let's see here. Um already jumping into some of the questions. Good morning, David Good morning, Alec. Um Uh Big diverges in between icebergs and cvd. Uh, I do not do much with it always wait for reactions to see what ice Transactions, but can you cover this how to interpret? Yeah, sure um Yeah, I mean I I'm I'm kind of careful to um. Good morning, Matt. Um, I'm kind of careful to to mix CVD into into it here, uh, David, but we'll take a look at it. Um, and uh, look at some uh, distinctions here um Yeah, let's let's just let me let me kind of put that on the back burner for just a moment here, uh, and continue on with this live analysis and uh Also, um, there was a question here in youtube. Good morning, Guido. Um A question here in youtube about uh, yeah easy trade. Yeah, I think this was a very easy move to the downside to catch You know, we're looking for it. I mean, this was this was a nice move Webinar started, you know around in here We're looking for that move into 30. We got it and we're looking for the continuation We drew up our lines in here, uh, and we wanted to see it trade into that And then we just saw Compared to yesterday very very different Very different. Here's why Uh more liquidity on the offer More liquidity on the offer. The reaction was sellers They're starting to pull on the bid in some of these areas And we we noted it in real time and then so we're just looking for it to continue on If they're not going to tangle with this and the reaction is selling We're looking for it to trade into lower liquidity as simple as that And it did. Okay, and then we're looking for where it might bounce. Okay, and we're looking at, you know, kind of You know where the swing, uh, and and the buyers came in here now This is very typical. Uh, it went below the swing In fact, it went down to just about this structure this area here And that's where we see the low And then we were looking for okay, our buyer is going to come in now we got insight by that By this liquidity in here Buyers wanted it. They were they seem to be attracted to it. Okay, and and then uh looking to see them trade into this They did then we're looking to see if we can get you know, what was the insight above or below this here Okay, we didn't get above it here immediately. It was in fact We see some selling and then we came back up. We saw our buyers. Okay, great 21 22 23 Okay, and it trade it did trade to 23 here, uh, right up into 23 All right, and then immediate sell-off now What was this was like yesterday's action and this is why like, you know, I got a little bit of um, it wasn't blowback but there was some, uh, yesterday some, um Criticism about going over lessons, uh, here's why we did it Because of of this here is no different than yesterday's action in the lesson Uh, that we don't see liquidity in here. This is just a an aggressor move down to the bottom of the range Hey, we then we had this in here and we're looking. Okay. All right sellers. Let's see if we get our sellers We started to get a few they but buyers rotated in and traded into it. We found buyers instead Right. So these kinds of moves can retrace very very easily Uh and back up to where it initiated in here Right now this this guy kind of um, you know made it a little more complex this liquidity in here But you can see what happened here, right in hindsight But we were not looking for hindsight. We were looking for or covering this, uh in terms of the strong move or The quick move here, uh in the sellers, but there's not much in liquidity in this area Sellers can cut down into these areas here and then They can cut the buyers can cut it right back though Now this guy here or this player, uh put high liquidity into the order book And we found buying pressure and we we even found it above it This is showing buying pressure We're looking for back up to 23 maybe higher. Yeah 24 25 Okay, and we just we just traded there. Okay, let's just zoom back out now. Look where we came back and bounced Okay, where we drew our lines in here and we drew our lines due to previous market structure Uh and and transactions in liquidity Okay, here here come buyers yet again And they could only trade it at 26 and a half so far all right and uh Yeah, it's still pretty dark underneath here. So Yeah, sellers can cut right back down to 23 here And as I'm saying that that's unfolding. This is moving pretty nicely pretty pretty quickly here See more sellers. All right, they're going to trade it 2050 Now, you know, that's not much insight there But and they pulled already All right. Well, let's see if uh, let's see if we see see how dark it is here Let's you know, this is where like I I take a step back I'm looking for buyers actually to cut through this back up to 24 and a half or so Right because uh, they can Uh, they get these these sellers on the hook new selling coming in Uh, and then they can now if they do or not is another question But there's not high liquidity here on the offer. They're starting to they're starting to show some but it's up here 24 and a half 25 Hey, we want to see it down here and the reaction to it Right, so these can be actually really good range bound. Um strategies look for these buyers to come in And then trade it back up into these areas here Okay, here we go. Here come the buyers looking for it looking for them to try to you know, run some stops back up into here 24 25 Okay, I still want to see it higher. I want to see this liquidity trade See how see see how dark it is again underneath here Okay, now now it's a little bit of a change see the high liquidity come in right gives a little bit of a push here The reaction to this liquidity a little bit of a push Note how dark it is though again. There's our range bound trade. You can even reverse it and range bound trade again You know down to this area here. I would have taken my profit here Okay, I would have probably gotten in right around in here. You guys know the drill I mean on discord. I've been talking about these things for for uh I don't know what we've been talking about them for years basically Okay, and then again, I would take partial profit on this right there And I'm not so sure about this one here Uh, if we get more sellers to try to trade back down to 18 and a half here But I'd take partial profit and I move my stop down. I'll tell you that Okay, again, these aren't trade recommendations in here. It's understanding liquidity and market structure Okay, and the transactions as well So where the market might go Based on the order flow here. Now today's a lot easier read than it was yesterday We're getting a lot more insight from some of this liquidity in these areas in here It's it and and we see the reaction the the the most important part here is the is the reaction to the liquidity Is what we're seeing Yeah, so anyway, you guys can start to look at these things and start to put together your range bound trade ideas Or you know, you can look at a bigger picture here Let's look at this All right, so obviously sell-off Uh, we came back up into around this 26 level. We're making lower lows and lower highs here I'm in this picture. I'm looking for sellers to come in again and hit the low and liquidity maybe down at 15 Okay on this on this view. So You know likely would have been in somewhere around in here around 20 Uh, and I'm looking for the continuation Okay, look at the sellers Look at the price movement Now I'd be moving my stop to break avian as well on this. I want this to work now If it doesn't work now, I'll wait for another setup Okay, that would be the way I would be looking at this and manage it So I would have been stopped out at break even on this Fine I'm fine with it. I'll look for the next one Okay, so uh, that's it's not a trade recommendation, but it's a consideration Something to look at right Okay, high liquidity here Back at 20 and oh boy reaction to it. Okay, so we're we're looking to go lower here Uh, yet again now, you know, that's too bad Uh, you know my trade management in here would have been stopped out of break even and I missed this All right. Well, how how how can I come back and rectify that right? I'm looking for it to work now Uh, and uh, there's our beautiful move 15 There's you know, this is where you get back into your trading plan Uh, and you start to look at this Uh, now I I would do it the same way again. This is this is the way that You know, I like to trade However, what I want to go over is for your trading plan Okay, how you might be looking at this Uh, and uh ways to consider Giving you maybe a little more leeway This was more of a higher time frame move that we were looking for Okay, we were zoomed out a little bit more and we we noted like a kind of bigger picture here downtrend retracement, uh lower high lower high Looking for a lower low looking for the for the move to work right now We got one pull back here back to here Okay, which would have stopped me out and then we got the continuation move All right, so uh anyway the um The point here is let's go over a trade management, uh, consideration in here All right, so uh, let's just suppose like uh, you got in here around 20 Okay, there's your entry Now just not enough movement here to take a partial profit for me I'm looking for this to I see a lot of selling coming in. I'm looking for the continuation down to It was around 15. Uh, this liquidity down here Okay, we got a bounce, uh, and then and then it did it now The consideration would be like, uh You know look for uh, you could look for a pullback, uh instead Uh, you could also like, uh get back in after you've seen this here High liquidity on the offer followed by selling Uh, and then we got the break here. That's the confirmation of it and then the move lower Okay, so uh, anyway The another consideration would be stop it stop would be, um It depends like, uh, you know, you could kind of look at maybe a point of control of this little area in here Which would happen to be right here around 22 and you would have been okay You wouldn't have been stopped out. I would have put it a little if I was going to look for a higher time frame move I would have put it higher Yeah, I'm not sure exactly if I would have put it right here I would kind of wait and watch I'd probably put it up here and wait and watch and look for the the order flow Okay, so that would be like a four point stop or so uh, and then uh, I would look for, um Uh, if if I see a you know a bunch of buyers coming in here I'm out and I'll just hit I'm I'm not going to get a full stop loss taken on that Like I said when I first came into this I'm looking for this to move here and now and then continuation These are these are other considerations other ways of looking at it. Okay All right, so uh, anyway Uh Yep, let's uh, let's continue on and then I want to get to david's question or his, um Request to look at cvd and and stops in icebergs All right now sellers still in control from this move here. Okay, and and here All right, so sellers in control from about 23 onward All right, that's another reason why putting your stop up above where sellers came into control is a good idea Okay, it's a consideration at least All right, so let's see. Was this a false breakout or do we find more buyers come streaming in and try to make Make it back to about 18 or so I'm going to take a look at this quick range here. David. I'll get to you in just a minute I want to see this trade and fail here Uh, and then continue on lower That's it's one scenario. I mean, I don't have any any reason right now for that to happen Except that we're just in a downtrend Nothing in the order flows telling me yet So looking for sellers right around here Looking for them to pull here looking for more Supply and just didn't quite get it. Let's see if we get it here Yeah, just not there's a little bit of supply at 18. Do we find our sellers? Nope not really Not yet. It's not ready yet Okay, so maybe buyers can lift it back to 20 or 21 Can see a lot more stops triggered Yeah, I don't like it. I want to see more supply at this lower level here Still this is like yesterday You know, we see the breakdown here. All right. Well, we can look for a pullback though And you can consider Getting in maybe right around here Somewhere around 16 16 and a half Okay, a little more liquidity here. Let's see it 16 and a half 17 I mean there it pulled back, but I just don't like it again. I wouldn't take it I'm I'm seeing liquidity on the bid here and I'm seeing the reaction being buyers So like yeah, I'm I'm not not interested Again, like yesterday looking at this liquidity in here and and price action Keeping me out of making a decision Stefan you're considering Bookmap offering with mbo. Sure Yeah, sure. Sure. Well that segues into you're looking for stops and icebergs and some insight on that That'll segue very nicely into David's question here Good morning cat in a hat. Um, all right All right guys also just uh, I'll let you guys know, um On youtube if you want to we've we've got a really nice community over in our discord chat room And um, we're also streaming over there live Uh, and there's a little bit of delay. So it's about a three second delay on youtube. So, uh, If you want to join over there, you can join the chat as well Um, yeah, you might want to consider it and take a look All right. All right. Hi liquidity. Look at the the player came in here with high liquidity and we saw the reaction to that was selling This is this is tricky stuff though. Like they pulled that liquidity here already at 16 All right. So this could be a false breakdown Stop run and then look for buyers above 16 here Okay, let's see if we get it Here they come All right, did we see more on the on the bid here? No, not really I wouldn't mess with it I'm yeah, I'm looking for more buyers above and then up into 18 But just again like I'm staying away from it until I get something that's That just gives more insight to the order flow here I said again, you just ping pong balled around in here Okay selling coming in All right. Here's some sellers again Want to see that offer here and they're not they're up here Right. So this is getting very choppy uh in here as you guys can see And we need to see sellers here and I want I want to see that that order book here I start to light up on the offer. There it goes. That's that happened a little too quickly Hey, but uh, yeah They're starting to do it And you can see the now they're pulling and then it's back and forth Now anyway, let's get to um There's the move. Okay. So I mean the bid or the offer finally did kind of light up in here And did push it but it that was a hard read We didn't really see that. We saw you saw some of it here, but it already it had already moved Uh, we did not we wanted to see it in here and then the reaction be sellers Kind of was the opposite sellers and the reaction was the the offer Okay, lows of the day here Or of the session Okay, looking for the figure down here 3900 05 or 06 liquidies next stop here. Here's our liquidity see the liquidity coming in, you know at these lower levels Here great. All right. Let's just see the sellers continue then Uh and drop it down to this kind of 05 and three quarters And they've got it. Let's see if they go for it looking for the sellers There they go again. Now we're looking for the move to follow through There it goes and let's see if we can follow through to the figure at this point Down to 3900 here. There we go beautiful Looking for the continuation looking for our stops here. So this is our stops indicator and this is our icebergs There's some icebergs in here that are are buying okay, but uh They're also buying in this little area here Still looking for the continuation lower into 3900 So david are you looking for more? Um Of stops and icebergs Yeah, just icebergs just icebergs and cvd is the study. Okay Let's take a look Uh getting some questions here on stops and icebergs. Um Yeah, yeah, I can go over the readings in here um or the settings In what i'm looking at here. So Let me let me first go through that. I'll right click on it and Scroll up stops and icebergs on the sub chart. This is the way I have it here in the settings I have it on some Okay, so it's basically cumulative volume delta over time and I I do not have any symmetrical Um axes here Okay, so it's purely that you can see the axis is different from icebergs compared to um stops That's fine for me. I like it. Uh because um uh the uh I have this context here. I know that they're not the same But I know that this was pretty big for at least in this time frame of iceberg buying I also know that stops. This is pretty big for for stops in this time frame All right, and I look at the context between the two There stops and icebergs here. So who's on the other side of this trade here? Larger players with icebergs as others smaller players are getting stopped out. We see it twice here three times actually Now this is this is this one's a little different Okay, so let's zoom out. Let's take a look at a bigger picture. Uh all of this here This is uh tremendous. I mean look at this. They these icebergs started to sell Let's just zoom in here a little bit Right around in here. So they they took it on the chin All the way up to here Selling all the way through Okay, and that was pretty significant. Um minus 700 minus 2400 so about 1400 Uh, you know, it's not bad. It's not bad for for for the cash open But it's the most for today for sure At this point now look who's getting stopped out So who's on the other side there? Look at this crazy dynamic between smaller players and larger players and stops and icebergs Okay, it's very telling Okay, guys, we we were looking for the move to continue lower. This is actually pretty typical order flow Um, I I thought we'd get a quick move all the way back down here because it's some pretty heavy selling It didn't um structurally we're still, you know, have our bias to the downside here, but um The uh, uh, what I wanted to cover here. What's typical is Before hitting the big figure Uh, we do get a lot of back and forth in here Um, a lot of profit taking a lot of uh, you know front running high liquidity in front of these areas in here Uh, and uh, you know, it just doesn't quite push down into that area here So we got to go higher find some buyers in here get them on the hook reverse Uh, and then, uh, you know get them to to stop out into the figure uh down here So let's look for that dynamic. We're already kind of breaking out of a small time frame here Okay, but uh, uh, so likely to trade up to about 10 here 9 or 10 Uh, and then I'm looking forward to maybe maybe it'll come up to about, you know, 11 or so Uh, and then I'm looking for those sellers to come in and try to get below These buyers in here. Hey, this is exactly what we covered yesterday Uh in in more detail now the they're really right around here at 05 But uh, if you start to see now, this is something to take a look at as well Range bound trade you start to see maybe some exhaustion here and some selling starting to come in You can trade it back down to here Take some off and hold looking for the bigger move to continue So here's our exhaustion. Here's our sellers. You jump in you take partial profit down here at 05 Now from like 07 to 05 not much, you know a couple points Uh, but uh, you'd be um, uh, you'd have one leg or one, uh, position off and try to get a runner out of it Okay, uh, in continuation of the trend here Right is a free trade at this point another thing you guys Many of you may consider just like if you see something like that You're all in all out. Maybe you're trading a one lot It's fine. Just look for the high probability. Um, a trade You know something that gives you some insight Get out Look for the next one. There'll be plenty I don't know where Alan is. Alan was talking about we talked about this years ago with Alan. Um, and Yeah, and now you'd be stopped out, right? But you gave it a shot. You just look for the next one Stopped out a break even on that on that second leg. Um Yep, Steven stops are important. Absolutely Um, yeah, one thing about stops that I really like is that You know stops are the smaller players It's us is retail traders and they're typically getting stopped out at the same areas uh The kind of behavior is a little bit easier to kind of um, quantify and understand whereas icebergs You know, we don't know exactly what these larger players are doing with their icebergs In fact, a lot of times you'll see icebergs get filled get filled get filled get filled as price continues to move against them They're just they're different players But when you see that behavior though and you see significant icebergs though look for buyers to start to come in the aggressors Then you'll get a really nice move because Their way of trading Is to have price come against them Uh get filled and and and continue to um, uh average cost Right, and then they're set uh, and then you know They're done, uh, and and look for buyers to start to come out on the other side And then move it like for example here back to vwap. There's your vwap trade So look for that behavior in your stops in your icebergs Or your icebergs not stops So different ways of looking at this data because of the different players involved in here All right, so just some i'm just kind of throwing out a lot of considerations to uh to take a look at Stephen I like you're looking at your, uh, nq correlation. That's excellent The blue line is the icebergs. Correct Yeah, and they've been buying um and in here it's kind of back and forth as you can see But the majority of them were selling up here as it went against them Right all the way up here right So anyway, uh, let's get to icebergs and cvd Okay So guys, uh, this is uh, david requested this. Uh, he's a um Been a book map user for for a long time or quite a while And very active in our chat room So, uh, happy to go through these things, uh with david Uh, and uh, yeah, you have certain requests and things we can go through them All right, let's look at this context between these two different, uh indicators and first off Let's let's talk about what they're showing I think this is the most important part. So let's be clear on what they're doing All right, we just went through in fact, let me deselect uh cvd for the moment Okay, we we just went through and and covered what Uh icebergs are okay. These are hidden orders Uh, larger players that have a lot of liquidity and they hide it from the order book because they don't want to be, um They want to be filled They don't want to scare the market away if they show high liquidity in here, uh It might scare price away and they'll never get filled So, uh, anyway, um, and we know that they can also they have deeper pockets can go against them Like in here on this move down All right, so uh, uh, we want to take a look at that Uh behavior in here, uh, where they're positioning and and where you know where we start to see buyers maybe come in Okay, now see how we had to come back up into we talked about this 10 or 11 area And then the rotation and the sell side here. They are I'm looking for the figure now. This is this is like, uh, You know very very typical, uh, like we were talking about We're looking for it earlier Because a lot of selling we have to get higher Look at the buying in here now Let's just turn the stops on for a moment because we're going to see beautiful stop run down into the figure It's because of these buyers in here All right, so this is the this is the fuel to this fire all right, so anyway point made on the on that move higher here and then The sellers to come in and hit the figure here. We're not not quite there at the figure yet, but I'm looking for it Uh, all right, let's take the stops off. Let's look at our cvd. Uh, let's so we know what we just defined the Icebergs we know what that is and what this is showing here. All right. Let's take a look at cvd now Okay, let's take icebergs off for a moment. What is what are what is cvd telling us? Well, this is just the aggressor And his plot is a very very simple blunt indicator It is showing buy minus sell over time That's it. Uh, it is not showing price action. It's just buy minus sell volume aggressor volume If it's a market buy, it's a positive number. Let's say it's 10 contracts on the s and p Then cvd would be 10 Let's say, uh, it was a sell now of eight Well, that would be a negative number add them to the two together cvd would now be two Okay, but where this gets really interesting, uh, is where we have divergences between This blunt output of aggressor volume versus, uh, price action You would you would think that they should they should be aligned, right? Well, they're not they're not always aligned and why is that is because There's you might get a lot of buying in an area Uh, and price doesn't go up It's not one for one type of of move or correlate correlated move Uh, and the reason being is that, um There there's a limit sell orders on the other side here absorbing all of that And I can demo this very easily Okay, we'll zoom into, uh an area here and here Okay, we have you know high liquidity in here. Here's selling Here's another part point selling selling selling selling So let's just go through this A little bit more in detail So they're selling all here At the same price level 3902 CBD is dropping though Okay, at this point here Uh, CBD reading is negative 260 And then here It is a negative 385 So there's a divergence there Right and it's due to these limit buy orders in here Uh, they're they're absorbing this they're keeping price from falling because they're on the other side taking the transaction Okay, now once they got filled You can see sellers cut through it All right, this is one of the reasons why I don't like uh Be I you want to be very careful with your divergences. You're like, oh, yeah, it's divergent look for buyers Boom, you know off to the upside reversal. No, it just doesn't work like that It the market is a lot more complex than that Uh, so um, I know that's a a binary kind of uh example just about, um, but um You know, that's that's the case Now here we're Again, we I was looking for it. We still didn't get there. I thought for sure this would get there, right We have a pretty pretty strong, uh selling here Traded into this o2 and then it did reverse out of there Now, I mean You can see like this is exactly what the market must do rotates back and forth before it can get in here And then let's see our stops. It should be a beautiful stop run there and there it is There it is All right, so sorry david. I keep on getting distracted here by the market action Let's turn on our um, or we were just defining our, um Uh cvd Okay, so we know what cvd is showing us now Okay So let's put the two together here. What about the icebergs? So the icebergs are basically going to show The same, you know the the opposite side here. So when you see A divergence here, let's let's look at in fact, here we go You'll see cvd dropping Let's find an iceberg that's uh We might have to show it on a smaller time frame here Yeah, right here Okay, so here you got your cvd dropping And we don't have much liquidity at this level. There's there's like, um 19 contracts here at this price level just 19 And yet look at all this selling in here. Okay, this selling here has been 83 Should it should drop price should be able to cut through that liquidity very easily and trade lower Well, we're getting the divergence here not due to liquidity, but we're getting it because of icebergs All right, so they're on the other side absorbing All right, so we want some insight to that. Okay. Well there there we have some divergence And now what we'd be looking for Is at this point We want to see like if Was it going to be buyers or sellers above it or below it? So it's kind of similar to what we were looking at earlier the um This is going to be this 98 50 here is going to be the kind of critical Uh point here to take a look at okay on this. This is a very small small time frame to take a look at Let's just draw it up 98 50 right there okay Okay, so we know they're buying all right now We're looking for buyers back up in the top of the range here lack of sellers in here starting to do it And it just it Just not enough buyers here there they were not willing to to take it back up into to the figure here In fact, we see an iceberg on the other side here This is really curious though. Okay. Now they're starting to buy again All right now we got to get back up here. This is our point And we're looking for green dots up here. Let's make them bigger Okay, we're looking for green dots up here If we get them here, we've got a confluence with icebergs and cvd We're looking for the figure there it is boom Okay, now on that small time frame that that's all I'd be looking for But we can zoom out and we can look at much higher time frames And uh, yeah, David this actually turned into be a pretty nice little move Okay, now, you know, we started to note that behavior in here And you know, I don't know. I think it might be a little coincidental that we kind of came all the way back up here You know this move though to 3,900 makes a lot of sense, but now they're selling here and here Okay, and cvd's like, you know, it's just kind of back and forth In fact a little bit more buying David does that make sense? Or do you want me to go through? Um Do you want me to go through some other things? Well, yeah, I mean one step at a time here. I see your Your posts here one step at a time. Uh, and that is like first off, what are they showing? Right and then what does it mean Now let's put the two together And is there some sort of correlation? Can we get something can we glean something from it? Is is the question Okay, I really like seeing these these um Them selling although it went against them. I don't care. I'm looking for sellers below Where these guys started to sell on the iceberg side here where they were getting filled and that's starting to happen So I'm now I'm looking for follow through due to that correlation Or that that confluence I'm looking for the sellers to come in hit 95 Okay, see this is where this little study in here gives me a little bit warmer feeling about this dropping to 95 Now we got the offer lighting up our aggressors coming in. I'm looking for a clear path down to 95 Right due to what we just talked about now in here and some of the players in here Okay, now you look at how dynamic this is So, you know, everything's kind of shifting and changing. We're seeing iceberg buying in here now a huge iceberg selling Okay, or a lot bigger put it that way So this was Well, let's put the icebergs on chart Great, there's 250. Right. So this is the key area. We're back to the same Look, they're battling at the same area here. I'm looking for sellers below it here This could be a really nice move Let's see it sellers CVD going up icebergs going down looking for our sellers here looking for 95 And that's the overnight low Okay, 85 area. Okay Okay, I'm looking for follow through through this actually now. Now we're looking for a trend here Okay, we're looking for maybe some of this chop to end and let's see if we can get a trend out of this now and continuation so, you know Yeah, I like your idea 85 maybe, you know 90 92 to begin with but Let's let's let's watch this and see anyway This is another I mean, this is the way I like to to take a look at some of these things is to use this as a confluence and Like I said, it kind of gives you a warm feeling that you've done your studying. You know that there's something to this Now you're looking but you're you're still looking for the order flow to follow through I mean, it's so order flow is the most important part This is just giving you that confluence or kind of added, you know You know an insurance assurance to it working out If you, you know, you study this and you find an edge in it Okay, we're still looking for the order flow though to to take take the Front You know the the front edge here Yeah, I mean look at this move back up You see even above where they these these icebergs came in so I'd be looking for more of these icebergs to come in again Right. It's already going against them So I I'll bet though they're going to start to support it here So there's we should see some more icebergs selling up here And I don't see it right now and nothing significant that's for sure. There's six up here. I think five or six Okay sellers should be able to if if no liquidity changing here Then I'm looking for the sellers to try to drop it right back down to the figure here Maybe a little bit lower But we got it. We got a shift in the liquidity right here and the reaction was buyers All right, I was looking for sellers to try to whip it right back down here But this came in found buyers. Okay, so Yeah, I'm still Still kind of squeezing higher. Here's our here's our iceberg at this is on the on the on the bid though There's a beautiful stop run 407 Beautiful. Okay. Let's see the sellers whip it right back down here to the figure. I think we can do that Okay, we got to see them here at oath about o4. There we go Let's see it sellers looking for it and the move back down to about 3900 It's not really playing. I mean they're showing more liquidity here on the bid All right, so we're looking for that because of a kind of a vacuum here of the stop run But the the bid is still strong here These guys got a poll and they want to want to see more on the offer here Not seeing it. All right. Let's take a look here All right, David, so You don't mind if I show this David. Do you you got your fill? Okay All right, let's take a look reverse long here Reverse scale out short out Okay, 41 and 49 up there. Okay Yeah, nice. I mean high liquidity in here Okay Yeah, I mean I I'm just not I'm not too sure about the it's a it's a it's an interesting idea an interesting study here I don't know. Um Not sure what I you know, not sure if it's for me. Um I you'd have to I'd have to spend a lot more time and and you know, I got the gist of it, but There are different players in here And that's something that Yeah, I I know what you're looking for though. I mean you're looking kind of for like the hidden orders to give insight And then looking for some pretty big divergence Because you know CVD for example, like maybe it's It trades up into here and just I mean high liquidity in here. We see like a kind of an inverse divergence And you also see a lot of icebergs up here That's that that should be pretty good then If if they're going to get filled in here, you know At the top of the range you have liquidity getting filled and you have icebergs getting filled And you get this divergence in here, but now you got to get the sellers Okay, now you're looking for the sellers in the small range. You're looking for them right around here And it already dropped to to here. Okay. Now you're looking for them again here And you're looking for the drop Back down to basically the figure So yeah, I like the idea um And I just think yeah, I have to kind of study it some more the um the other thing to consider is you know, I just One of the things that you know after You know, I meet with quite a few traders and One of the things that I mean, you can even look at like scott and and j trader One of the things I notice is how simple they keep it I mean really really really simple, so I'm not getting overly complex They have data on and they know how to collect the data for their trading strategies And then they're just looking for that and and looking for the follow through time and again Right. So here's our finally our move And it had to trade up into this liquidity here and then it failed Okay, so here's our pullback already Okay, so that that could be a a chance to get in right around this o3 Uh, and then try to move it down to the figure. We never we never got to the figure in fact Not yet On this move Guys it's becoming very choppy right now Um, if we're going to get that move here, this is not looking high probability, you know Here's why We're not seeing it's not. I mean the selling is not bad Uh, but buyers can bring it right back up to here and and o5 here. Look at the liquidity in here Now watch see even on the bid here. Watch this It'll probably move right back to o5 here Okay, get these guys selling in here and get them stopped out back up into o5 Okay, it's a very easy move when there's not a lot of liquidity in here And this is what we talked about yesterday in length Okay, and that would keep you out of that pullback here Okay, so there's there's another way to you know, look at this here If it's not doing what you like or what you want Stay away from it All right, this would this is a low volume pullback, but you didn't have all the pieces in that low volume pullback This is better actually as a low volume pullback now Back up to like this o4 Okay, and that's even even better here Okay, so now looking for an entry point if that's a low volume pullback. I want to see sellers here around o4 I'm not getting them. They're in fact is the opposite. They're pulling here and we're still getting buyers Yeah skewing the order book on the bid still getting buyers Let's see if we can get a get a few sellers in here And then a quick move down to o3 No, no sellers Yeah, yeah, uh, david i'm looking at your other charts in here. Um, yeah, and it's kind of hard They keep squeezing like this exactly So, you know, look at the sellers just try to move it away. They've had it, right? They just come in here and try to move it away really quickly But we really want to see again then they come in they kind of capped it here at o6 and three quarters It's not a lot though so buyers can still trade it up up into this area, but We're seeing a little bit more on the offer here. Okay. Let's see more sellers right around here at o4 We'll four and a half and we'll get the drop Okay, let's see it sellers here. You got it Hey, these guys at o3 and a half will probably pull So i'm still looking kind of for this o1 and a half or o1 area down here No, no, it's not ready yet. It's just not ready yet And we didn't get sellers down here And well, let's see if we get by exhaustion and we're not Okay back down to the bottom of the range Yeah, don't I still don't like it Okay, this is getting interesting. All right, here we got some liquidity now now on the offer here Sellers are trading into o4. There they go Okay, can now the can they drop it below o4 looks like it then we're looking for o1 Great, let's see it still buying pressure Here we go. They're backing again And buyers take them on see you see how back and forth it is in here. This is the auction Buyers took them on We're looking for this to cap it and find sellers Buyers took them on They took them on again here And that's what happened here That's nice. David. You're putting putting together a trading plan and everything On this Yeah, that's the way to go Yeah, we have some ideas in here for uh, uh doing exactly this in In discord You know and sharing sharing a kind of a live trading plan I want to do it. Um, do we haven't had time? At this point Okay, let me get back to some of the youtube stuff in here guys. Sorry. I didn't don't mean to to uh Leave you hanging in here Um, we left off with steven and his nq correlation Yeah, the well the bigger I think the reading the icebergs is a little more complex than reading the stops Uh, the um, just because you know, they're playing a bit different game You know, it and we get a lot of traders who immediately look at the uh, this the icebergs and go Oh, well, look all those all those icebergs. It's gonna, you know, go the opposite direction now And and it it really it depends on the order flow Okay, you know the larger players position, but it really depends on the order flow Yeah, I mean even this reading down here You know some pretty heavy uh iceberg too. Well, it's not that heavy. It's just 250 But we we marked it up and it's this 9850 level here I'll bet if we get some sellers in here that come in here and we're looking for them Right here. They come. Let's see them trade to the figure And below nine. I'm looking for the retest to 9850 here. Here come our sellers And uh looking for them to blaze through the figure here And hit this this level here now. This is the level though. We want to be kind of keen Uh on here at this 9850 If we see if we see selling below that we're looking for a bigger move Okay, does that make sense? I mean it makes sense even structurally we can look at this is where those buyers came in right in here And this is where they're going to lose control Is below here All right, so that's what we're looking for Okay, so we already traded the figure here. We're looking for continuation We're looking for a 9850. We've got the you know, um some some selling here on the offer now We have more supply at a lower level Uh and um Let's see if we can get our move now Here we go Let's see it sellers No no selling Okay, there's there's our liquidity here now the buyers wanted or not Yeah, they kind of do Let's see it sellers right here right here And uh, oh oh three quarters Nothing And there's the squeeze uh, let's see peter. I don't know who you're talking about. He's uh, David David's a book map trader. Yeah for sure Uh, louis, uh, your book map doesn't update as quickly as mine. Um, not sure why? Yeah, I don't know, you know, how much data you have in there Like if I zoom all the way out, I've got uh, since 7am this morning a lot of its backfill data though Okay Okay, all right Well, anyway, we traded all the way back up to the high volume node or where you know This range was up here, but this is still bearish here because we didn't get above it Right. So again, we're looking for sellers and now we're looking for them to move it away from this volume area here This price structure This one Here Let's see if we can get it. We're looking for our sellers here here 01 And I don't like it again. This is this is kind of like yesterday We're not seeing anything here yet That it's not it's not worthy Uh buyers can can lift it very very quickly through this dark area in here of liquidity There's not much liquidity Okay, we're looking for a you know a move away from an area and and Okay, it's getting a little more interesting Okay, the weather weather starting to change a little bit All right, there's some liquidity Oh two and a half And buyers buyers liked it. They they were attracted to it All right, so yeah, we're not we're our directional move to the downside We're not ready for it yet. In fact, we're looking for kind of a reversal or not a reversal, but a A range bound trade up in back up into 05 And here's more liquidity on the offer And we still we're still finding buyers here Okay, top of the range here Not much underneath sellers can take it right back back down to You know the figure basically Very range bound Let's zoom out again here and take a look Here come our sellers now. Let's see here If we're gonna get get our move. So we're at our 98 50 Just just below it here Yeah, I'm looking for I'm looking for the these sellers to take it I got this this is really kind of that critical area. We kind of marked up here and Looking looking for the the selling below here 98 50 I'm surprised buyers take it right back up to the figure All right, let's get let's get below again. You can see it's still a battleground this 98 50 here Okay sellers. Let's see if we get ourselves below it. These guys will pull it at 97. I'm pretty sure Um, and then we'll probably get back down into Yeah, well 90 95 and and 90 looking for it. Here we go Let's see it sellers. You got it Now we're looking for our directional move to unfold Okay, we've gone through all of this back and forth in here And now we're looking for something to follow through Yeah, we'll add the stops in here. I'll take off that cvd for now Sorry about that Tallis Oh, yeah, no, I think he did take he did take the trade uh, peter like you could see the you saw the markers on on the chart there um David took You might want to reach out to to david, uh, peter you might want to jump over to to to um discord Uh, and you can you can ask him directly There's our move guys. This is this is the follow through now. We're looking for this is the trend move now All right, this is what we're looking for And continuation down to 90 and and 85 All right, we had to go through all this back and forth in here and now we're looking for a price to to move Okay, so this was our battleground here at at at 98 and a half Uh, there was back and forth above it and below it here more sellers here And then this is a quick move here, which is kind of tough to to grab But um, we were making lower highs and lower lows in here uh, and Here's a pullback too, uh as well Looking for these sellers to come right back in again here Okay, so let's let's see if we can get it Byers still fighting it. They're fighting it trying to get it back up into the range again If they do they're going to come back up into this area here You know their volume profile or you know, even this lower time frame profile Here this is where this is where we're looking for the break Um Away from that profile and some selling and to pressure to move it away Still looks like a low volume pull pullback to me looking for sellers looking for the move lower 90 92 90 85 Okay, and like I said now we're looking for something different We're looking for a directional move now at this point We've we've we had the bigger directional move Uh earlier, uh, and then all this kind of back and forth Uh, and then we're looking for continuation Lots of stops here Some iceberg buying in here 136 Okay, peter no, I'm serious though. You should reach out to him, uh in uh in discord Uh, no, it's really it's really we have a really nice community over there Uh, he's I mean he's sharing, you know He's sharing everything in here He's sharing his trades. He's sharing his higher time frame. He's sharing, you know Uh, his his trading plan in here and and we're going through it in real time It's it's very nice Yeah, thank you, david Hey guys, this is this is again like, you know, like this is why we we covered yesterday um The more kind of educational approach Uh Is you know what we're looking for uh, and Under understanding the order flow and then starting to understand like, you know, even higher time frame moves Now we're looking for the directional move, right? We're looking for it in here It was it was kind of around that 98 and a half area here Uh, and we knew that we had some insights due to you know, some of the things that david would made us take a look at here Uh, and then uh started to kind of put the pieces together Right, this is where the directional move took place 98 and a half. Boom 90. There it is Look at the look at the move On the offer at lower areas. Uh, you know, now we've got everything working Now they did trade into this liquidity here, but they traded right through it Right, they're still on the offer at lower levels here. We're still finding sellers So we're looking for this to continue We're looking for it in the bigger picture now. This is where we'll get You know, uh traders. It's not the quite the bigger picture here Uh, because the bigger picture is this is kind of a nice trend to the downside For the day at least But kind of medium time frame in here was trend move sideways trend continuation And you know looking at and reading price structure volume and the Uh, the transactions in here Okay, so in 85 was our next level Now look at some of the icebergs starting to pick up now too Okay, they're starting to uh to get filled in here now. Are they covering? Or are they positioning themselves? Uh, it doesn't matter What what matters is we notice the icebergs And then we notice some of the areas where You know if they are buying where would they be in profit? There's our move 85 Okay Yeah, I I would be um I would probably be out at 85 to be honest I don't know. I mean that you know I look for my targets and I take them uh the um I don't have any reason though at this time to get out It's just that it hit my target And well, let's see if there's the order flow continue then you'd stay in this And right now we don't have any reason to get out And there's our continuation. Well, there's our 85 finally And there's a little bit of liquidity below it still It looks like a 84 and three quarters and Then again on on this move this directional move here and see how easy these are to capture I mean it Boy, I shouldn't say that once you're in them. It sure is easy um But capturing it you had to go through all this back and forth and all of this bs back in here Uh, and then finally, you know looking for it looking for it And then you know noticing our our areas and then looking for the continuation and the follow through And this this has followed through very very nicely So you look at more liquidity here on the offer here at 87 Still going lower Okay, look at that. Look at the offer What's the reaction? More selling. Okay, great Continuation looking for this liquidity down here 81 and a half 80 No, there was no reason to get out Okay, we mentioned that of course, um, but yeah, we just don't see anything yet telling us Now how you want to get out is um buy buy balance area. Yeah, and and let's let's let's let's cover that Alan Alec, um Look at the look at the selling in here This is this goes over that point that we're making about like understanding here. Let me use the pen Cell volume. Whoa, that's a little much Cell volume directional move Right here directional move This is like a directional move in here on the buy side here. They're trying to begin Here it's back and forth. Here's selling countered by buying and it just we got chop Then we got we we saw this move down to our 85 level Okay, we noticed that 85 and a half and then we're really keen at this in this area here. We're watching it Okay, and uh, and we saw our sellers come in great. We're looking for the move Uh, and uh, it was 95 It was 90 then it was 85 and then that 85 we said like really there's there's really no reason to get out yet um It's continuation until we see something different And you know, that's a I think that's a it's a rule that uh, you know, you need to kind of you know come to terms with uh And um in this case, you know, it it worked out really nicely Until you you know come up with some reasons of not just because it hit your target, but you know come up with some reasons why You know the reason my reasons are usually it hit my high liquidity target. That's what I was looking for Uh, and then I can look for um You know, I'm I'm anticipating a bounce at that point. Uh, in fact, we didn't get any bounce whatsoever here Uh, it just continued on lower Right, but like to alex point here buy buy balance area. This is what it takes Guys and and it's it's done it really nicely here, right point point made on that Um, and then reasons for getting out. Well, let's we let the order flow tell us You know look at the price structure Okay, even with this price structure here and you see this little bit of buying coming in There's no reason to get out not yet Price structure is still holding Okay, it has to get above these swings and it has to we have to see buying above it here at at 80 and a half And we're not seeing anything like that yet So you just stick with it stick with your trade to the downside All right, again, these are not trade recommendations This is how to read order flow and apply it to any of your trading strategies Whatever it might be you might be looking for for example, alex david they're looking at volume profiles You know they're looking for it to move away from a balance area and guys this isn't It doesn't get much better in terms of a move away from a value area This is quite pretty Look at that I mean here. We'll even take the stops and icebergs off here for a moment I mean look at that volume Okay, see see the see the chop and the back and forth in here Look at the volume dots. Look at the size. Look at the colors Okay, you can also see it in the bars back and back and forth It was kind of tricky uh in there And this is easy Or easier Welcome kevson Um, yeah guys. I mean, there's still like we're starting to note though. They can look look cluster buying up here Selling down here cluster buying up here some selling down here another cluster buying up here But it's at a lower high. So we're still trending lower And another cluster is selling All right, well if we can get back up here around this 7980 area here and we start to see buyers Then we can have a possible reversal, right? It'll probably go back and forth a bit, but you know here look Selling not selling buying looking for buyers now to trade right back up here to 78 and three quarters Hey, that's our double bottom in here Okay, now it's doing a triple bottom and there's still look at the selling down here None Okay, do we get buyers here? Yep. Do look at the order book. Yep looking for this area right here to trade 78 and three quarters boom All right, so that again, that's a quick read, but it's order flow Okay, and we started to note that distinction Here and then here And I thought we'd get it here. We didn't we did one more rotation Then we got it Now we're looking for maybe you can get higher 81 You know 80 80 and a half 81 Okay Yeah, and the potential squeeze absolutely Alec. I mean that that it sets up We have a potential squeeze get look get above all of this selling right around here at 80 and look out Look at the buyers. They'll come in and look out. I mean you won't get it, you know You'll have to get out very quickly Uh, if you want to save save some of your profits Now weaker hands it depends really it really depends on your time frame in here weaker hands, for example, like uh Uh, you know, we you could make a your argument for getting getting out um You know right right around in here Because you saw this double bottom pattern or triple bottom pattern in here And then you saw the uh some of the buying coming in well you'd be getting out of your position Right, so you you made pretty good profit down to 77 and a half or so from uh, I don't know where where were we looking to get in This uh sell side of our you know around our 98 and a half area. Maybe maybe a little bit lower. Okay um Hold on 98 and a half. Yeah, so maybe maybe a little lower. Maybe it was in this area here 97 and a half Right because you really see the cluster in here. It's it's looking good. They're below it and you see the cluster is selling I'm looking for the continuation Uh, anyway, uh, so that's let's see 98 97 and a half So that's a 20 point move Okay, and and pretty stress-free Pretty stress-free. We're looking for the directional move All right, and so and got it Now we're kind of back to like It's going to be back and forth in here All right, so anyway guys like uh, there was uh, you know a lot of uh comments uh yesterday about uh going over um in youtube at least uh on uh going over live, uh analysis forward-looking analysis instead of uh lessons Uh, and we just saw some stuff and I wanted to go over uh some of the lessons Uh, but you can see though how we can apply those lessons from yesterday to today Uh, so, you know, I don't I'm here not to waste your guys time but to to give you more insight uh and um You know assist assist with your order flow trading And whatever whatever it is I can do to help that's that's the goal Uh nice tk. You've got some nice winners in there. Um Excellent All right. Well, anyway guys, let's let's wrap it up. Tom B is next Uh, and uh, he will uh, can he'll take the baton uh, and uh look for uh, uh Jumping into your volume profile trading All right Yeah, yeah, so uh, yeah, anyway guys. I just wanted to you know Reiterate about the uh, yeah, you're welcome. Thank you, David The uh, you know why we cover some of these lesson days and then Uh, if we see some good stuff, we're going to go through it because we're going to see it We're going to see it in here Uh, and um, and we did uh today So now, you know, it's now it's going to you know, we're looking for some back and forth in here And you got to read the order flow It's going to be we're kind of back to the look look at the range in here Like they seem to be attracted to this liquidity in here Right, but sellers can take it really quickly right back down into these lower levels here And we're still basically it's it's testing this structure here, but we are still in a down trend Okay, even with this kind of pullback in here. We are still in a down trend Okay, it has to get we have to get a lot of volume above 80 here In order for that trend or at least the smaller timeframe structure to break here We may get it we'll see But we may get trend continuation Anyway, look at your higher timeframe levels Put those pieces together uh and and take it forward All right. All right everybody. Well, yeah, thanks for coming and um Thanks guys, uh, yeah. Have a good day everybody. We'll let meet up tomorrow with j trader stocks I'll go through the s and p for a little bit until he comes in he comes in a little bit later 10 minutes 15 minutes after 10 And then we'll jump into stocks All right. Thanks for coming everybody and we will catch up tomorrow Bye. Bye