 All right. Good morning traders. Sorry. I got started there without you Without hitting the live button here, so we all should be good now Anyway, welcome to the live trading webinar here at book map so we all should be good now and This is the education free education you get with book map. We have an educational course It's online and then we have the follow-up with these live webinars. Okay, the Monday, Tuesday and Friday I lead the Live analysis and the concept here is to go through that course content in the live market so you can apply it Directly in the live market is forward-looking analysis not hindsight therefore you you can see it and or attend the Recorded webinars from the education and then come to these live events and apply it directly We also get questions all the time about offering live trading So we reached out to a few traders. We've had them now for a few years Live trading by a J trader a stocks trader every Wednesday at 10 a.m And then Scott will see any a futures trader every Thursday at 10 a.m So it's a very complete package. You're getting with your education. Let's go through the disclosures here Very quickly the general and risk disclosure and then we're going to jump into the live markets and go through the order flow All right, 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 the central risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results. All right, so let's jump in here let's take a look at the S&P e-mini and I kind of want to comment a little bit on yesterday's webinar, which was Got a nice compliment in here from from John About the webinar yesterday about covering structure Okay, structure is such an important part to understand and I wanted to Talk more about that structure today. I got a question from a book map user just Yesterday and they were asking about Distribution and accumulation so basically they're talking about Wycoff and you know mark up mark down You know, you know all that all that good stuff in there and let's apply that to the order flow It's all based on Structure as well. So we're going to look at the order flow within that structure to understand the accumulation and the Distribution and I think you guys will will like this quite a bit You know starting to look at these areas of consolidation and breakout just like we've been doing here We're just going to apply a little bit of different Terminology to it and look a little deeper into it here Okay from Ramiz you were looking at Scott's Trades for the first time last week and was impressed. Yeah, it's great to have both Scott and Jay trader And don't forget after this webinar There is the Tom be traders lab On YouTube and also here in discord. Okay, so what Tom goes for the afternoon session? And a lot of good stuff in there. It's all volume profile based All right, so here comes our distribute or our mark down here looking forward to trade down to 40 50 Maybe we can even break and hit higher liquidity down here now What are we looking in and at book map here and why are we looking at these areas in the heat map here? and thinking about Why price might come down into these areas? Well When we talk about price discovery It's it goes back to the old and let me get the pen out I mean, you know your economics 101 if you remember boy I barely remember it, but just such simple stuff And understanding like supply and demand, you know, how many times have we looked at? You know that very very simple chart in economics 101 and you've got your Your supply curve or your your demand curve and your supply curve Right, and then this is where they meet so That's what we're talking about here, and we're using the same terminology of supply and demand This down here This is liquidity. These are buyers. This is demand All right supply is up in these areas up in here Okay, this is These are limit sell orders up here. These are limit buy orders down here So now the aggressors The buyers and sellers in here That move the market with market buy-and-sell orders. They Look and seek for this liquidity. This is where the buyers are sellers know it They'll come down and trade and test into it price discovery Into demand down here Now if there are more sellers down here Then we're looking for continuation More sellers means this was not enough demand And we'd be looking for sellers to trade into maybe it bounces a little bit But then trade down to the next area of high demand Really simple stuff here But very profound To understand really applying an auction theory here or in basic economics In common sense to the market and starting to understand the context of buyers and sellers in this market and That's that's what we're looking at here. Okay, so here's our test into 4050 and let's take a look here. Are is there more sellers in here? Let's let's zoom in a little bit closer Okay, and let's let's look at the condition of the market down here the can the context here We'll zoom in a little closer. Well, here's what happened. There was high demand here 167 Contracts or so that wanted to buy and and they they purchased they got filled here. Here's another one 4050 We have another 177 or something like that Look at the big red dot. These are market sell orders trading right into it. They got they got filled All right. Now, are there still more sellers in here? Let's see looks looks like it looks like there's more selling in here. I see more red dots There they are so they took it a little bit larger to ticker to I want to see them take it lower Maybe they can reach down into this 48 and in a quarter here Now we have some other very interesting order flow going on in here We have some absorption. Yeah, it's absorption But look at this huge iceberg guys playing out in real-time. There's 1200 contracts and it's still in here Okay, now this is a hidden order. This is hidden demand And this is another thing of why it is very helpful to have this kind of transparency with the MBO data from rhythmic We have over over 1200 iceberg orders that are already transacted and they are sitting here on the bid At 4050 here absorbing at least as we what we know right now as much as they can You can see the whole evolution of that iceberg in here now you can see more traders coming in at 4050 But as price is moving away All right, so what do we know from that at that point? Well, we know that there was more demand than there was Limit sell or market sell orders to take that market through that area here and try to find more demand at lower levels All right, and they're still here. So now there's even more liquidity now This is this is kind of interesting though. This liquidity here below is two ticks below it now They added someone came in and added even more here Okay, so 160 contracts are on at this 49 and a half level here So that's more demand But the demand here was a little bit lower here So it's we're kind of reading the context here of of the auction here So if it's a little bit lower Well, then that's that's showing that they're not so interest. They're interested. That's good But they're below the 4050 level here So they think they can get maybe a better price that price will come down a little bit lower So what we're constantly gauging this process in here and understanding the context of Supply and demand within the price action Yeah absorbing front-running Yeah, it's actually the right at the figure So it's so it's definitely a larger player and they just said like I buy as much as you can at 4050 So and that's a huge position already and it's only four different As you can see here that the in the four here in the parentheses means that it was four transactions in there I believe Hold on a minute. It was the last the last one was four Yeah, yeah, the last one was four. You know, there were multiple There were many transactions in there. Okay, so look at the context now and We can start to understand a bit more and it makes sense that now we're starting to find buyers Okay, now so if we're finding buyers, so where's the supply? Well, it was up here now. They pulled that away from the market Well, then let's look for more buyers and try to reach back up here to 4060 And there's a lot of other things going on in in this I mean, this is kind of it's not such a simple example here, but there's a lot of things going on We have VWAP up here. We also have the point of control up here, which means the most traded level Which means value It means fair value Seems that most traders agree over over today at least That this seems to be the the value the fair price Level because most traders agree on that and that's the concept you may or may not agree with the concept but that's the concept and It just it's the most traded area. So That's that's where a Lot of action Previously took place and it can take place again All right, so we had kind of a host of events here that kind of turn this market around here and When we were reading it here basically in real time starting to understand. Well, they're not as not as bullish here I didn't cover this one here. I should have I was covering that one point But they came up and actually bid up underneath and this is bullish Now, however, did they get filled? Yeah. Yeah, they got filled 111 contracts Got filled. So that is kind of bullish there. They bid up Above here by quite a bit, you know, this is a full two points higher and they got filled in here All right, so what do we have here in context? We have an iceberg. We we know that the buyers got filled down here The sellers met the demand down here And then we had more More here at a lower level which is is not it is still showing demand Which is good, but they're at a lower level So it's not Like they're being really aggressive chasing after price here. These guys were kind of chasing here They wanted to get filled and they did now we have more information than that is we have this huge iceberg in here so we had Hidden order hidden demand in here that that traded a lot So we have a Context of multiple things here And then once we start to see these buyers curl back in come back in and they start to break the market structure higher highs Higher lows We're looking for it to trade up into higher liquidity. The first stop would be up into here at 56 The next stop would be up here around 60 And that's where we're just coming to right now Okay, and we talked about it. We mentioned the 60 level up here And due to this kind of confluence and context of events in here and we have another iceberg here really aggressive here It's not well. We don't know the entire size. We know that what has transacted. He's here with 174 that have transacted Really interesting one there. There we go. Okay, so 60 just traded Right into it. Okay. Now. Let's read the context up here. Okay, so we just traded into it Now where's the next area of of supply? Well, it's up here at 62 Okay, are we finding enough buyers in here to reach that area yet? Okay, you can see we're we're going kind of sideways now And it's a smaller structure And we're still in an uptrend in this very small time frame It's not micro or anything like that, but it's just you know a few minutes here seven eight minutes something like that Okay, we're seem to find more buyers here. So looking for 62 It's a little bit higher maybe a little bit higher as well 63 Let's zoom in Hey, we look we look for more see now this kind of disrupts everything see at 61 right here Someone came in and threw in a hunt through and lower Lowered supply here. I mean high supply at a lower level and they just transacted So a buyer took them on and We're still finding buyers up here interesting So if we're still finding buyers up here after that transaction we would be looking for 62 to transact Maybe higher maybe 63 maybe 65 And we're getting up there though and we want to be want to zoom out and kind of get our bigger picture perspective here Because we have some exhaustion here There was very little buying in here Some sellers starting to come in Any questions on this so far? What are my thoughts on the retail sales? interesting retail sales there the The the core versus the actual number God, let me take a look at it. What was it again? so the core was 0.6, but expectations were 0.4 and the retail sales overall number was 0.9 which was under the Forecast of 1.0 So it's a little mixed But I mean people are people are buying I mean the core the core is usually the number you go with and It takes out the you know the the larger Purchases that kind of kind of can kind of skew the data Tremendously, so that's why we look at the core number. So what yeah, I mean people are buying Even though there's you know higher inflation coming in here. So it's actually you know You know, it's not not not bad It's kind of a little bit of a relief that in in front of Inflation here we people are still they're still buying so that's that's that's kind of my Take on it and I there's not much to you know Basically what I'll I mean This is my way of looking at it here is I'll take that information and I did not dig too deeply into the numbers as you know But this is a potential strategy in here is like take your bias or your understanding of that fundamental event and Then look for a specific direction to support your idea Okay, so if you're really bullish on that and let's say that like wow, okay The core numbers were a lot. Let's say it was better and well you'd buy on this pullback here And then and you would be looking for a breakout of here is 61 You'd be looking for it to come up to 65 and maybe 70 and that would be high of the Cash session. Yeah, it would be up here at 70 So many different ways to slice and dice it and I think that's a great way of trading to be honest Well, it's I'm a little I think it's convoluted a little the context is with the fundamentals Just the fundamentals loan or it's kind of complex You know inflation we know there's inflation we know the Fed is going to raise rates and yet we have this kind of You know retail sales data. That's a Not not so bad All right, so maybe that just kind of mutes the the downside move or yeah I look you have to kind of put together your your fundamental fundamentals with your technicals It makes kind of sense to me. We're kind of mildly trending down right now. Yeah. Well, and then I think Corwin when it comes back to it like what's really important is You're just not only having an outlook in a plan, but really your risk management is going to be you know Just key for that Right, so if you're mildly Bullish for it, you know, I don't know then, you know You know, you might want to take some profits on some of these moves up into some of these areas here You're not looking for a bigger move All right. I mean it you really that's like very very complex To kind of answer so it's very simple strategy, but it's very complex to answer that You know, how do you want to gauge your performance? I mean, you might get a huge move here. You get a lot of other people that are going the wrong way in here And you see a big move up here So maybe on you'd have to look at your own data. You got to do your own studying Here's why Every every time you're mildly bullish or something like that and you take some profits and you might get a big move So how do you start to gauge some of those things? Well, you're gonna have to kind of look at it and You know come up with a plan that works for you I know that it just sounds like a cop-out, but that's really the truth I've talked to many professional traders like, you know all the time And interesting to hear some of them say things like, you know, once I start to Take the same profit on every single trade It really made a difference Instead of like finagling with it Do we have lessons for book map? Yeah, mr. Mr. Banks Let me show you this so go to bookmap.com And click on well, there's a few different ways to go go there You can click on the more button and go to the education page here Or you can go to education here, which will just scroll you down this main page here And then you can go to the link here. This is our new education page. We put this together for everybody So what you'll learn here and here's all the course content getting started bookmap basics And then the educational courses here Learn from our community And then here the live webinars It describes them here. There's links to it and then here's our calendar our live education and events calendar And you can sign up also here for these webinars Okay, and then there's more information down here about meet the team And and there's recordings down here Or previous or you know new new videos in there Okay, further further reading or further learning is the last one here Yeah, go through our knowledge base our blog The book map marketplace and then watch previously recorded webinars Let's see here question on and I'm so bad When I zoom out most of the large volume bars are red Is that useful would that indicate sellers are more active today? Yeah, it certainly would it's the Delta. I'm looking at Delta bars However, I'm not really seeing that to be honest. I'm seeing it. It's really a mishmash in here The largest ones are red. Yeah, well, this this you have to be kind of again context And you know, I know I keep coming back to context, but it's really true The context here is this was a stop run into high liquidity down here and Into these lows here at 4050 So yeah, these are large Okay, but you know put that context together and we know that you know people getting stopped out and it's happening again here But we don't we don't see the stops yet. We're just trading into 4050 right now and did that guy get filled With his iceberg or he probably pulled it Where is he? And we cover all of it and we show everything in here. Oh here. He is up here, right? Yeah, it looks like he pulled it and added it up here and got filled And fully executed It looks like it. Oh, okay. There's a nice push through Okay, now that's gonna be a huge stop run Okay, so now we can look in it right inside all of this to and get exactly You know information about is how many are stops, etc We've got the stop indicator on here. So we know here's 600 here. There's 135. Here's 108 All the way back down into these lower levels here, but think about it this way if you know, we can we can look at here And we can even separate out the column data here And start to understand how many are stops how many are you know new new traders here or Not stops I should say And we can you know do some subtraction from that now a lot of these are stops in here Okay, and what are stops these are people Typically, okay, we're gonna make an assumption on that one typically exiting the market So it makes really good sense that these are it's basically kind of in essence Empty This is there's no position in here They're out. So we're looking to see if we get buyers back up above here and get us maybe a move back higher And then anyone that bought in here or sold in here. I'm sorry is gonna get squeezed So we have stops and then anyone that sells in here. That's gonna get squeezed So we're looking to see if we can get buyers back up above 40 50 here Now we've already come back to 40 50 and tested a little bit above it here still looking for buyers in here and then looking to see if we can come back up and Start to meet some high supply Up but up in these areas here, and I don't really see too much here. There's a little bit up in this area here the blue and Also back to point of control and VWAP up here. It's also in line with the swings up here All right, so let's take a look at the distribution down here in this this new area Okay, so you can see what happened it tested up here a few times and That was it no buyers. I mean there were they actually tested above it here. They got up here above it But that was it Now this is where we start to get into our pivots that we've talked about many times over It's this here And if we get our buyers back up above it, there's a smaller pivot in here as well Okay, very short time frame here at 49 and you can see we're bouncing off of that right now Okay, this is where the buyers came in bounced off of it and sellers came through Back down to the lows now now we have our buyers back up above it Okay, now let's see if we get more buying and we'll be looking for the move back to 50 and above here. Let's see if we can get buyers back up here at 50 or right at 50 I want to see them up here though. Actually a little bit higher 51 And then we let's take a look at this this range in here and what's happening within this range About distribution, etc. Well, here's a lot of distribution already And and that's the stops In fact, we could probably discount that like I said And we know there's some sellers in there too But this is a lot of selling in here Okay, so what about what about the potential for a mean reversion trade back to 60 back to 58? Well, we'd be looking for in this distribution down here Or I'm sorry this accumulation down here. We're looking for buyers to accumulate We can look at many different factors. We can look at the buying dots in here We can look at the structure and where they're transacting And if we're gonna get follow-through or not, we can look at our imbalance indicators We can also look at cumulative volume Delta in these areas here And you can see that yeah, so they are they have been accumulated in here And now we want to be careful here though because if their buyers accumulating in here Well, they're gonna be sellers down here and Well, they'll they'll be there. They'll be the squeeze the long squeeze here into 45 and below And see it to these buyers would be or kind of rattling or shaking in their boots here Right now and here comes here comes the the the price discovery Okay into 45 there it is and let's see them try to squeeze these guys that we're getting long in here And then a push into 43 maybe 42 maybe 40 Nice liquidity down there at 40. I have a few icebergs in here getting filled too many icebergs in here. Let me Use our handy automated or automatic Filter for both Yeah, look at the absorption here of the of the icebergs. No question about it looks They're still in here absorbing as much as they can six seven hundred contracts Okay, now look if they're gonna absorb all that selling pressure watch for buyers take it back to the middle And let's reconfigure this Or the most traded level in here Which is really pretty wonky. I would say probably maybe 47 and a half or so somewhere around here Look, I mean these are huge positions. There's 1400 just transacted and he canceled it too There was still more in there. Okay, beautiful stop run. All right. Well, so you can see now So we were reading this distribution in here. I'm sorry this accumulation in here And then we read the order flow and then went through the scenario and The scenario was wow, we're got we're getting some buyers in here You know, we know that there's some sellers in here We're looking to see if we maybe they can get squeezed to the upside And then looking at the CBD in here Price was trying to make a higher high or as it came back up in to these highs could not get back up into 51 though And then here they're shaking in their boots like anyone that bought in here is On their back heels here, they're gonna feel the pain And we went through that and we talked about it And then the potential for the move and the stop run to the downside back into 43 42 maybe 40 Okay, a little more convoluted than that 1700 icebergs actually this guy finally got He got completely filled in there. I'm sorry Something was exit. Oh the case. It's a little more Yeah, I know he canceled for 1400. There were some other ones here executed for 300 here and Just added those together. So the last one was executed for 300 Anyway So, yeah, so we traded down to 41 we haven't quite gotten to 40 yet but that was the scenario based on This accumulation in here, which you know, they basically got they got they got squeezed they got hurt We go lower here. All right guys, we haven't looked at the bigger picture yet And I want to we're getting down to into kind of I think some sort of gap fill areas in here. Yeah Well, you know, you can see this is where we close I mean the gap the true gap fills way down here This is the 15 minute chart here on the left or on the right the hour in the center and then the daily here On the on the left-hand side now, you know, you can see even on the daily I mean look that it's the same old things that we we we talk about You we look at some of these wicks up in here and look for sellers We get back above then we're looking for the next level of sellers and they're up in here And we just a little bit shy of that area But you know a great move and it gapped up into that area and it sold off now look where it sold off to the top of this range So far so around this 40 level so here Yeah, I would look I would look for some profit taking in here and I would look for Maybe a bounce around this 40 level And not looking for it to go straight down into fill the gap down here at the lower level Okay, just looking for it to fill this area here And then get a little bit of a bounce and let's zoom into maybe a five minute chart for a moment here. All right So, yeah, we're down in that level. Maybe we get a pull pull back right back to 45 Or maybe even a little bit higher maybe back to 50. Okay, so we're right into 40 Nice move into 40 and through it down to 38 Okay, so now this is the markdown phase and Let's see if we can get it looking for our buyers start to come in and we'd be looking for a couple different things in the structure First and and nice nice stops in here as well So we're gonna draw our line in here not just because of the stops but also because of the swing or the structure here And we've got all these icebergs another iceberg in here getting on quite a bit So one already filled another one is getting filled Right at this price level a lot of iceberg action Okay, trading into high liquidity there. Wow still going lower another nice stop run here I'm looking for buyers Looking for buyers to come back up now. I'm gonna move this line here actually to Well, it's already there. I wanted to move it to here 38 Just try to draw a new one quickly and you can see now Okay, now we're breaking the trend and the structure here at 38 Maybe we get a bounce back off of it. Maybe a little bit lower. Maybe 36 and a half and bounce here and Looking for buyers to support it here And now this is only one scenario, but we're looking we were looking for this over here Went one more lower here now. We're looking for it again, and let's see if we get it now We have already broken The the trend line and this smaller line here around 38. Okay, so we're looking for accumulation down here Okay, there's demand here at 35 150 contracts there not a whole lot, but another iceberg another hidden demand Actually three icebergs at that price level Sweeps are in and Well first off you'd be looking for in stocks dark pool transactions not in the futures Those are over-the-counter you know Trades transactions They can happen at any price level All right buyers, let's see it here Let's see if you got it and a quick move maybe back up to the top here 38 or 39 something like that and Not not seeing a whole lot right now really. I mean it's not really telling us much You know, maybe another rotation lower here. Yeah, that's what it's doing, but I am looking I'm very curious this is where I want to see buyers up here and Yeah, we continue to sell off here again. I'm still looking for this though And we're down at these levels here And they just keep exploring lower here keep stopping people out But again, I'm just looking for this scenario here and this is another reason to like don't you know Always we've talked about it many times over stick with the trend until you see that something different You know now we're not in any position here So we're just looking and waiting for it and we saw this here and that was just getting interesting here And it's starting to break it here as well And look at the supply though I mean or the you know hitting into high liquidity here at 30 33 and a half and going lower still now at Marcel the Guys this is the art. This is our event here. Okay at around 33 and a half or so Yeah, so if this is where we want to see the buyers above it here This is our our pivot right now right here It's lining up beautifully here. Okay looking for our buyers above it here and You know looking I want to see them just pull away now buyers to just come in And then I go for maybe up here at 40 now that you can see someone lined up here in front here 34 and a half and 35 and a half something like that I'm just looking for buyers to tear right through that we're above this line here. We've seen Now this is where we're going to put a lot of pieces together as well We've seen high liquidity being filled on the bid on the way down here Multiple times over We've seen huge icebergs getting filled multiple times over All right, this is boating pretty well for a nice move back up into 50 up here Maybe even back to 60 So we're looking for those buyers here. They come and we wanted to see them trade through this they have We're still looking for them to come up to 40 now And we've come up to this first swing here Now I'm really looking for the buyers though to pick it up here And I don't have evidence of that yet, you know, they're there We see them coming in but look at the selling coming in now right back down And now we need to see these buyers come in again. They could upend these sellers in here These are not stops Especially above 35 and a half here. There we go. All right buyers. You got these guys on the hook here You can squeeze them Just need to buy some more show more demand down here We need to move up into 40 So this is now turning into The accumulation phase here. All right, here we go. All right buyers Let's see it This is this is nice here. We had a little bit of buying here. We have very little selling here We are buying here. This is where we look for the breakout up into 40 And they did they did make an equal high here Okay, now trade considerations around these kinds of events. I mean, these are They're kind of risky, right? It's kind of countertrend right now. We have a lot of confluences in here And it's up to you how you want to take a shot at it And you know, we're just we're just looking at a few or looking at a lot of confluences in here And we'd be looking for entering basically right around in here Around this 35 and a half area here Okay, because we're looking for these buyers to just take it higher Hey, your stop would go down below the swing here And if you see sellers coming after it, I mean you can even just get out early I mean because the the concept here is we're looking for this to work right now So here we go. Let's see We're back up here It's not looking too good right now to be honest They're making lower highs in here and that's not boating well for the For the buyers in here. All right, so yeah If I was looking for that I would have been stopped out on that one I would be still looking for it again potentially here right back up here and I do it again Okay, but I don't know if it's gonna come all the way back down here or continue Maybe there's more, you know, aggressive sellers in here willing to go after the demand down here But I'm looking for buyers up here to go for the supply up here at 40 and I have icebergs I have now this is countertrend, right? But I have icebergs. I have lots of Limit buy orders getting filled down here So I'm looking for demand to start to come in and I'm looking for these aggressive buyers to lift it Okay, and give it another shot there 35 now looking for it to follow through one of the nice things about You know one of the things that that how I like to kind of manage these And like I said this it's up to you, but when they look really good. We're looking for it to work now A stops can be quite tight Because if it doesn't work now then just wasn't ready look for the next one I Instead of having to play all the different rotations back and forth in here, right? That's the edge in order flow Right. So here it looked better. There's more buying up here is starting to now break the highs It would have been stopped out down here would have gotten back in in here somewhere in this area here and Yeah, it went against me a little bit But stop probably down. Yeah, probably down here around the 32 maybe a little bit below it So that's like three points And then looking for 40 And then maybe taking some off at 40. I don't know about that yet Make my decision if it gets up here to 40 Okay, likely would have been just stopped out at break even right there to be honest I gave it a shot And it didn't work it should have worked All right, you can you can always get in the next one. Yeah, more buying back up here again Give it another shot This should work is rotated a few times. This is one of the things. This is why I actually kind of prefer The NASDAQ compared to the S&P is the rotations Usually NASDAQ will follow through immediately and it's also been great I guess I've kind of learned it the the easy way in fact via these webinars and looking for the follow-through immediately for the for demoing that and How this looking for that follow-through immediately due to the order flow and the NASDAQ did it a lot more often Than the than the S&P the S&P would rotate Like this several times So you're looking for that follow-through and it's just like yeah, it's gonna take another rotation Okay, we're still looking for it and here we go. All right, so I took a couple shots at it One stop loss for a few points one break even And one still in it basically now. These are just you know considerations. Obviously. These are not trade recommendations We're just going through how you may consider this You guys can't hear me Uh-oh, how about now? We can it's just choppy. Okay, sounds like a robot really That's not good. I've had a lot of problems with these Headphones Can you hear me? Well, is it is it is it proper clear now connection where we can now? Okay? All right guys, so so there it is from 35 on up to 40. I would have taken some off and Yeah, I'll be I'll be honest. I would have taken some off and I would hold the rest here I'm looking now for something else to happen here Now, you know, we went through this whole kind of you know Example in here and it's for educational purposes only Right. It's you've got to do this kind of do diligence and back testing yourself. You really do It's it's just it's just how it works and to start to understand how are you going to manage this? You know what if if you had like for example a Deeper pocket or you're looking for a bigger move you'd have a deeper stop loss, you know, you wouldn't have been stopped out Hey, you wouldn't have been stopped out at break even you'd still be in it from your original position Okay, and now you wouldn't have taken profit either So you'd still be in it and you know, you'd be looking for the bigger move back up to VWAP or Maybe point of control at least 50 here. I'm at least looking for 50 here And we have good reasons for that. We have lots of good reasons for this. It's just really taken its time here So Several reasons here like we will cover them again. First off. Let's take a look at the higher time frame So we're looking kind of at a bounce off of these this area in here Okay, we can even see it on the daily the bounce kind of off of these wicks up in here I don't see it bounce back up Maybe we're not looking for much in here, maybe just the bounce comes back up to about yeah, I like it. I think around 40 47 to 50 somewhere in there on this five-minute chart looks pretty good to me They back up into this area here and retest Kind of this structural area up here And that's it just looking for that right now so maybe your higher time frame maybe you wouldn't look at this here and and Get in get involved Thinking that that this is kind of peanuts. I'm you know, not really I don't really care for the move back to 50 here even though it's Basically 10 points now or 15 points altogether. Yeah, I don't think I don't think Scott would for example. I Mean just based off of risk reward. He would say like, you know, I'm gonna pass on that one Okay, so now what we're looking for is to kind of queue in other traders here Kind of higher time frame traders mean reversion traders to say like hey look, you know It's starting to show or positive order flow in this direction We're looking to trade it right back into kind of an average area And again, we have all sorts of buyers in here. We have all sorts of icebergs in here Okay, with their limit by orders and their icebergs Getting filled all the way down here people getting retail traders getting stopped out all the way down here So now we're looking for a nice move back Hey, I really like 50 and not just because it's the figure. It's also structurally here Here's here's this previous area. I'm looking for a pullback to These areas here or this area here Okay, it can even come up higher Hey heck it can go it can price can do whatever it wants We know that Short's getting squeezed bit by bit. Yeah, we're also looking for a squeeze as well MC local But did you know I think there's certain times a day and it's right around now. I used you'll see these Kind of tip off To mean reversion traders, I think it's far enough away from the mean Trade it back to it and you know, you see it all the time and this is a setup. This is what these these players look for Yeah, we do have the European close coming up But we have lots of reasons for this to unfold Okay, back to 50 Lots of reasons as we as we discussed. All right. So anyway Let's let me go to YouTube here and see what's going on. That's not it That's it Oh, yeah, let me put this into the chat for you guys to this education page I just think you know, this will be really helpful for you. All these resources are here together For you. Here we go There's the education page there funny discord disconnected, but YouTube was fine. All right. All right. So it's kind of a battle going on there. All right And let me see if I missed much in here. You guys can hear me. That's good Well, anyway, I think there was some kind of questions in here or head and shoulders and some patterns in here It's not really much of a head and shoulders It's more like, you know, really really deep moves down Pull away and then just one shoulder here and then then we're looking looking for that continuation And you know, these are I don't know. I don't know Maybe you guys are you know to complete experts at some of these areas in here You know, we went through the trade scenario And what realistically would have happened for me Maybe you would have been you know had a little more risk involved and not gotten stopped out the first one That's fine. I look this is the way I would have looked at it and just trying to be honest And still holding still looking still looking for our our main target at the half figure up here Okay, Charles you're just saying don't be fooled wait wait wait Yeah Yeah, no, I mean it we had our we had our reasons and like yeah, I mean Charles is that that's great I mean you got your reasons so But I like this higher time frame idea of kind of bouncing off of I liked it here to be honest I Went through it quite a bit deeper went down to here instead kind of off of this area here And then now now it's coming back in There now we're starting to get some squeeze going on in here as well guys. So You know look This is just it's and you know, I'd be starting to get kind of you know, I'm still looking for 50 But I'll I'll be looking at the order flow in here and if I see a ton of selling coming in I'll I'll I'll exit But yeah, I'm looking for 50 I See some selling in here, but look at that selling. This is like a low volume pullback So I'm still looking for buyers up here and I'm looking for the continuation Now if I start to see sellers starting to come in a lot of selling I see exhaustion in here They're likely even come back down to 45 Do I want to exit? I don't know All right. Yeah, here we go. I'm still in it. That's easy to say but Yeah, and I don't like that. I'm looking for these buyers up here. They're never starting to see a bit there They go. All right. So now I'm looking for them and I'm looking for the target It still was a low volume pullback in here. I just don't like seeing kind of exhaustion in here and then selling down here You don't think I have a clear idea Charles Look, I'm not here to argue with you You know if you want to go through your your way of trading in here, that's fine Yeah, I mean, you know, this is I just cover the way I I thought And what I would do Yeah, I see I just I don't like this here. This is exactly what I don't like You know, it's kind of shake it shaking me out here of my position and Then how many times that I've seen it this is like this is why I like to front-run my my targets But I would have held for 50. I really would have and I'd be kind of in a pickle right now Of like, yeah, is it gonna bounce off of this little range in here? We're gonna find our buyers try to upend these sellers here. I mean, maybe maybe exit here You know try to at least and then or give it one more shot See if you can get the buyers back up above these sellers here And then these sellers would be the squeeze And that's that's a likely scenario. I mean heck, you know, if I got stopped out and I did see that I could jump in again and then look for the move back up to 49 and 50 Right. You a lot of times we see this it shakes everybody out, you know, it gets me nervous And then and then we get the follow through anyway anyway, like The the point of these webinars is to you know, go through maybe a consideration for your trade management Just, you know applying, you know, some of the things that we're talking about in here Or you know to put it into, you know Some consideration or some context of like, you know, how you may Look at it Right. So, you know, we're talking about Reading the order flow, though, that's what this is about In here, we're reading the order flow And we're putting pieces together and then we went over because we get questions about it all the time How would you how would you manage it? How would you, you know, reading the order flow? How would you Position yourself? Well, that opens up a can of worms with What's my time frame? What's my risk? How much am I trading? Am I scaling in? Am I scaling out? You know, am I looking for a bigger move? I The way I covered it, I would have been looking for a smaller move. I would have scaled out at 40. I'd held the rest and Yeah, I probably would have I'll be honest. I would have dumped it here about about 46 It would have shaken me out Somewhere around in here You know, I was thinking it might do that here and it gave one more shot I thought here we'd get the move, but we didn't and then we see some heavy selling coming in Once I start to see the heavy selling. It's like, yeah, I don't like that Still might go in fact is still in an uptrend So, you know, this is another thing like, you know, that's that's that's my own kind of doing in here Well, did it did it break the trend or the structure? No Not yet He's making lower highs in here now They made a higher low here Lots of comments in here guys. I love it. Good stuff Yeah Corleman, we can we can take a look at at Nasdaq as well candlesticks, Mr. Banks, Mrs. Banks, sorry Is something that is You know, we don't I mean we can overlay it here and we can go through candlestick patterns in here Where's everyone commenting and YouTube there? There's there's there's quite a it's pretty active in here. No, no, look, it's not about ego It's not about boasting. It's not about bragging. It's about trying to beat and this I'm I'm a hundred You know, I'm certain of this like I have in the past or and still and will do in the future Have a bias and stick to it and be stubborn And it goes against me even in front of order flow Now see here. I'm looking for the breakout here order flow wise. We've been waiting in here and Now we're starting to see the buyers up here And it was probably this demand in here at a higher level and the reaction was buyers Now we're looking for the push into 48 and 50 here. Okay, it looks pretty good Now it should work now if it doesn't I take the stop Right. So anyway, what I'm trying to get out here is the more objective I find the more objective I am about this and reading the order flow and just putting these pieces together The the the better it works, I mean by far by far It's just like well, wait a minute. The chart is telling me this it's just reading the order flow And starting to put this together and we started to cover, you know, we went through kind of a Why coffee and type of distribution and and mark up and Markdown and accumulation, etc. And You know Putting that kind of structure a little bit of structure in here because we always talk about structure And we talk about the importance of the market structure and then it's the order flow within the structure And this this mark down here and then we're looking for accumulation in here That's a pretty funny looking accumulation down here, right? This isn't very typical But still we saw it and we're looking for it We saw something here in the order flow that told us That you know, wow my god There's all this liquidity getting filled on the bid all the way down Okay, we had we that's fact There's huge icebergs and we had a real edge there by seeing the icebergs And then typically to be honest Typically when we see massive iceberg transactions like this, this is just the beginning And this is when we see like, you know a move back up to 60 a move back up to highs of the day 70 maybe 95 up here Because these guys are just getting into the green right now Right these icebergs. I Mean, you know, maybe maybe they're taking profit down here But what we know is the majority of them are getting filled from this area 50 on down So they they averaging their cost in here And then they're probably just getting into the green right now or maybe they've been in the green You know, I don't know five or so points ago You know, this is where we can see beautiful moves. So, you know, that's another thing like did and did I Would would my trading plan would I have looked for it? No, I You know, not not this time I would have looked at it and said like no, you know, I'm good with this move up up to this area And then I'm out Okay, but that's just me. It's not you. You could have you could still be in this You could be looking for that move to 60 All right, so lots lots of different things to Consider in here and and that's the goal read the order flow and then put this together into your plan And that's why we have the live forward-looking analysis again all of it based on our educational course that you can find here So go through the course It and Understanding market mechanics here the intro here basic market mechanics. Don't be fooled by the word basic and intro in here Part two auction market theory Volume profile and microstructure These two together really nice. They put this They lay the foundation here for for basically any way of trading. All right, so any any Wycoff followers in here you'd be looking at well is this up here? the continuation of accumulation I Don't know Or you know here Elliot wave guys you're probably looking at a complete Elliot wave up here Here's your distribution up here looking for sellers to take it back down Maybe back down to 40 or so or maybe even here and you could just get a double bottom here And then continuation of trend All right, so a lot lots of and we see that all the time Another way of looking at this This is your big power move here and You do see the large bars here. I'm so bad was Referring to these earlier. This is your low volume pullback on a higher time frame It's done it basically This is as far as it went So if that's your time frame then you're looking for continuation to the downside right, so this is the Huge distribution. Here's your markdown. Here's your pullback looking for it to continue yeah it late that mrs. Banks that lays the foundation and Then you can you can take that into you know Whatever it might be What whatever trading plan you're looking to to trade and that's where the magic really takes place So because You know understanding like that like these contexts here look at this buying coming in here You know so looking back to 52 here. I mean we're just about at 50 So I'm they're gonna I'm looking for them to push it higher here That's a lot of buying trying to move it away trying to get these stops here Triggered I don't see many stops yet So I want to see the stops triggered so I'm looking for the move up into 52 and a half up here VWAP Maybe to 60 here Okay, we just talked about this kind of pattern here this kind of double bottom. It didn't quite do it Usually you get pretty equal double bottom in here instead. We got one move one more move and then super strong buying coming in here Okay, so looking for now continuation Back to VWAP and then let's see if they can move it to 60 here And so anyway, look these are different scenarios in here We'll look at the order flow to give insight to what might It what is more likely to unfold? Charles Charles. I've been trading for about 15 years and like many of us we've been kind of through just about everything and Yeah, I'll this is kind of what happened with me You know, I was getting into a lot of volume studies volume profile that was You know becoming of a lot of interest for me. I didn't really totally embrace the volume profile trading And dig down, you know really deep into it. I liked it. I liked it a lot But you know and then before that it was just everything, you know from candlesticks and patterns to indicators to These, you know three moves up distribution three moves down Accumulation, you know Elliot wave, whatever. I mean look we've all we've all done this What made really good sense to me was and I'm being honest here when I started to see In here and it was pointed out to me Another trader helped me tremendously And he was pointing out to me look start to understand these small structural areas here And this is how the market moves and You can now you know piece this together with your higher time frame moves So what's going on in this in this structure here the sideways consolidation? You know, it's it's bouncing around in here in this area Okay, well we can we can look at it in here and we can start to look at well How many how many sellers let's look at your cumulative volume Delta here and we'll turn off stops and icebergs for a minute There's more sellers in here not not by a whole lot But you know there's more sellers in here and they're trading and auctioning at lower lows in here So I would be looking for them to trade it back down in here. Maybe we can get a breakout Price discovery or breakdown price discovery to 47 and 46 Right, but we want to we see the exhaustion here. We see the selling here. Okay, everything's lined up now We need to go through the other scenario The other scenario is this could be trap volume down here Buyers come in and lift it away quickly trade up here trade one tick higher And they're gonna come back up and trade up here and maybe even break out up into 50 Into a new range We want to read the order flow in here. We know that there's the demand here at 47 But that's it so far. I don't really see much else in the order book happening And I mean they pulled here a little bit down in this area here there But they've been adding and pulling in there, right? So we're looking to see if maybe there's a skew and supply and demand a little more demand here and market traded higher Okay, some exhaustion there and then now now some buyers and sellers and we're back up at the top top of the range now All right So now looking to see if we get our buyers here and there would be a stop-loss after these guys No, not much. I I'm just not seeing much here. Basically. This is range bound activity Okay, a little bit more demand coming in here see at the higher level. It's not much Let's see More it's auctioning up here more buyers up here Not too much sellers buyers more buyers pulling up here Not much demand But yeah, I'd be looking for 50 and just kind of chops around it comes up to 49 and a half This is this is all pretty random stuff in here to be honest But anyway starting to understand what makes price move and then in the order book in here I'm sorry. I didn't pick a good example in here But maybe we'll find something and then cover it, but you know, I'm going I didn't really cheat I'm not I didn't know exactly where it was going but that that's that's a You know, I want to go through the point here and demo it but once I started to understand these Really what makes the market move and traps and and the dynamics in here the the market mechanics what what? Makes it move to newer price levels or keeps it in ranges, etc Then the light the light turned on And then I was able to look at this Here on a higher time frame and understand it as this in some of these ranges up in here And that was that was really big for me And it then I was also to able to take that concept of some of the volume studies and volume profile and it's the same thing In fact, I liked it even much better because your volume profile in here. Well, this is looking pretty distributed here so far And so where do you see the skew? Well, now there's a skew here a little bit and what I like about the skew in here Is that this is recent activity? It's not previous activity so much. It's recent activity That's a key here because this this profile here Is aggregation of all of this data here? I want to know what's happening here and then look at this pull away and now I'm looking for the move higher Okay, up into 50 there we go And pulls right back down but Anyway starting to understand these structural areas in here what makes price move can be extrapolated to the higher time frames and Start to understand Market structure in a very very different way And then the funny thing was is looking back into Elliott wave looking back into candlesticks looking back into Patterns it all made sense. It was the order flow within those areas that made that made the difference It made the pattern fail or not And that gave such a higher level of confidence and Higher Trade results, I mean just just being able to have much higher probability By understanding what's going on in the order flow All right, so that was a very long-winded way of getting to it. But anyway, that's kind of the background Yeah, FT 71. He's been doing volume profile for quite a while but And and just an expert of it. He really dug in deep early Yeah, guys. Okay, so Now this here was the kind of the key in here Right this because in here, we didn't really quite know You know, I it shook me out Basically, but we went through the different scenarios here of this being a You know could potentially be quite a nicer move here Due to all of this getting filled on the bid But then this is where you can lean on some of the icebergs in here And this is this is the kind of transparency that you know Just I think can offer a really nice edge when you start to put that within your plan here It's a confluence though. It's not a signal. It's a confluence that wow I saw tons of icebergs on here in here lots of size getting filled on the bid on the way down as it goes against them I'm looking for the buyers to start to come in at some point And I'm just looking for the mean reversion back to 50 Okay, but then once these guys get back to 50. Look, they're in the green They're in the they're just getting to kind of they're probably into break even somewhere around 45 Or just in the green there They're definitely in the green now and they're just going to let it float right back up into 60 And and maybe even higher All right These are the ones that you know, they just put on huge size in here So you see all this selling everyone thinks it's oh my god, it's breaking down etc Um, and then who's on the other side and it went against them a lot too But but this is how larger players can play They have different pockets than we do And they can Let it go against them average in and then just kind of let it float right back on up Okay, and then we had we get the insight from Well reading some of the order flow in here And then also from um This this this big move in here the bigger move was this one Okay, and we start we started to see that come in and it's just like yeah, okay. I'm looking for 52 Uh, and then and then went through the scenario of like this could go a lot a lot higher as well Okay, so nice stuff in here boy, I really wanted to cover distribution and and Accumulation I didn't get too much of it And instead we we saw this uh, basically all of this Bind getting filled with their limit limit buy orders and we saw the icebergs hidden orders being pretty aggressive in here And and then we went through this scenario back to here and then the potential scenario for up to 60 now as well Yeah, uh neon night. I I agree. I think it's unfinished auction in play to the upside So this still has room to go Uh, I cannot Janna. I cannot tell if they're buying or selling icebergs. I just know they transacted And that's it I and it doesn't matter so much to me Uh, I know that those are the transactions and I'm looking for the market activity after the event That's the the most important part All right So anyway guys, I think we've covered a lot of different things in here some good stuff Any any uh more questions here? How do you get the iceberg chart on your charts? Okay, let me show you that Uh, if you're new to book map in here, uh, and then discord guys. Sorry guys. Let me get back to you the discord In here Thanks, Doug. Doug's getting uh giving some help in there Gary to keep keep talking us through. Okay. Well, uh, let's uh, uh Let me show you. I don't know if you guys are are disconnected or not. It's um jump over to youtube I mean really that's the way to go So, uh, uh, they don't seem to have any problems. Um the um Let me let me show you if if you're interested in the stops and icebergs. Where do you go? Uh, so, um Again, you can go through the educational page here and find it, uh, you know, we we do go through it in here Down here further learning, you know, check out browse the marketplace here There's that's one way to get to it here under number six But here click on the more button and go to the book map marketplace here Uh and go to mbo bundle here Okay, or you know, we can click on marketplace. It'll take you to the marketplace and in the homepage here In general you scroll down a little bit. You can see mbo bundles right here So, uh, now this is very specific It works with global or global plus So that doesn't matter It will not work with digital plus or digital though Only global and global plus And it's sold separately here as an indicator bundle You will need to have rhythmic data though, but you can get it right here from rhythmic on the book map marketplace And this is a structure for our third party vendors We're one of the third party vendors. We created this one here, you know, here's hero though from spot gamma Um, you know, you can see, um, keltener channels here from zoley Scott pulsini has an educational course All sorts of stuff in here. This is where you can find the stops and icebergs click on it Uh, you can read about it here and you can download it install it, etc After you go through the purchase Or subscription All right, uh, now the um, there's I want to show you on the marketplace are the Um knowledge base though where you can find it as well for for new downloads, etc So just go back to book map.com Uh, click on the more button here Uh, and then we're going to go to our knowledge base. This is a key area to go for book map. So, uh, everything is usually We is centralized around the knowledge base Now you're in the user guide section of the knowledge base and then go to the add-on section here click on that And then you can see stops and icebergs here Uh, and right here on chart and sub chart click on the scrolling link here down to installation and you can download it here Uh, no, I guess you have to download it from uh, it used to be available in here Or no, you can use the direct link here. Yeah, you can download it here Uh, and then on chart here same thing Uh, you're not, you know, if you don't if you don't subscribe to it Obviously, you're not going to be able to to to you don't have the license key for it. You can download it, but you don't have the license key Guys, this turned into a beautiful move as you can see You know now now let's just recap here on this because This move to the downside Okay, we had lots of things Just to recap we had lots of things to look at here For this potential move here to the upside Okay, first was our our higher time frame structure Bouncing off of this area in here on the hourly I thought on the 15 minute or five minute it would bounce off of it here Around 40 it went lower. It went down to this little kind of structural area and these wicks down here Around 30 30, yeah 30 And then it bounced Okay, uh, so uh, we have that going for us We're looking waiting and watching on the way down Uh, and then then we saw it in here Uh, and then we even kind of demoed going through a You know a potential way to uh Look at it and and manage it uh an entry and exit And that's really um up to you though. Those are just it's just it's not financial advice. It's not a trade recommendation It's just a consideration How you might look at positioning yourself with order flow And that's it Uh, now one takeaway though from this because I've seen this a lot of times Now I would have gotten out as as I demoed that bigger picture Like when you see this kind of activity This is where the back testing comes in and build out that trading plan You know, you could be done for the for the month on a trade like this Because we had lots of things going for us on the way down here Uh, we had the the move down. We had the higher time frame structure We had the move down into high liquidity all the way down here We had retail traders getting stopped out all the way down here. Um, we had massive iceberg orders Uh Hidden orders Accumulating on the way down here as well And we know we know where they started they started somewhere around in here And so this we covered this scenario for this potential move up to highs of the day or up to 60 So this is playing out pretty nicely and You know, I don't I don't know if it's done yet or not. Okay 70 looks pretty good too And that would be a lot of stops up here of people everyone's shortened here Uh, and these uh, do we see these guys just distributing yet? I don't I don't see them taking profit up here So still looking for this to float higher Uh, until uh, we start to see some sort of back and forth in here Okay, so we'll leave you with that scenario here. Uh, and that's the webinar. Uh, now I'm gonna stop but uh, tom b is gonna start Uh, and uh, he'll continue in the afternoon. You can jump right over there and continue with the He gets into the volume profile in detail All right All right guys, thank you everybody for coming We'll call it a wrap here and then we will catch up to you tomorrow with j trader. Uh, he'll be in For uh, usually a little bit after 10. So look for him Um And but we'll cover the s and p and maybe kind of debrief what we saw today and and what was the outcome of today's action here Okay, thanks everybody and we'll catch up with you Uh tomorrow Oh, yeah one thing guys on youtube if you like this video, please give us a like give us a thumbs up Uh, really appreciate that. Uh, and um, uh, subscribe subscribe to our channel It's uh, we're doing this all the time. It's part of our uh community here Uh, and we want to build this community So, uh, the more kind of uh positive feedback here we get the more the more we're able to build out the community Have more traders in here all sorts of stuff guys. So, uh, Really looking forward to it. It's pretty pretty exciting time for us here at book map