 Morning, book map, community. Welcome one, welcome all. Happy to have you here on the stream. My name is Charles. I run a community called Pirate Traders where we focus on the ES, the NQ and how it moves through the two way auction process. I appreciate you joining me this morning and I'm figuring what you probably wanna know is what is the market gonna do next? Where's this bad boy gonna go? Well, let's find out. Let's dig in and let's find out. So the first thing that is worth talking about is what happened on Friday. Friday, the market broke out of what we call a balance area. A balance area is simply a range that the market has been trading in for a while and the first step to getting away from that range is breaking out of that range. So that obviously is bullish to see. We broke out to the upside. The market created new all-time highs that is also bullish to see. We spent time and brought in volume so it's bullish, bullish, bullish, bullish. Okay, across the boards, everything looks good. We in the Pirate Traders community were bullish from the close on this day right here and we talked about being bullish at the end of the day on Friday. So we were fortunately bullish through this entire move and the reason was because we understand the two-way auction process. We understand that the mechanism that drives the moves of the market is whether or not there are buyers and sellers. If there's buyers, market go up. If there's sellers, market go down. And our way of understanding who is doing business and where they're doing business gives us the edge to understand what comes next. So the first thing I wanna do this week is just take a quick couple of minutes here and zoom out and look at the market from a more longer-term perspective. What Jim Dalton calls a top-down approach by starting to zoom out on my timeframe, it might give me a better understanding of what is happening on a shorter timeframe. So let's start with the monthly. We'll get about as zoomed out as we can be. So on the monthly chart, what do we see happening here? Well, we've tested previous highs and we've broken through them above. So that's the first thing that jumps out to me on the monthly is that this could have been a double top and the market just turned around and headed right back down, but it's not. That's not what's happening. Instead, it's breaking right through and it's creating momentum. So that is bullish to see. But that also reminds me at some point on the monthly timeframe, if we make a move higher, we've got to come back down and turn that into support. I am also noting on the monthly timeframe that we are now in three months of straight excess that is bullish to see. We should assume that excess can continue on the monthly timeframe until we make a lower low. So nothing super special on the monthly right now. Let's jump in and take a look at the weekly. Well, on the weekly, we can clearly see the market has had an absolutely insane amount of momentum over the last few weeks, right? I mean, just week after week after week after week after week, it just kept going straight up. It just kept going up. It just kept going up. Look at that. And then we finally pulled back. We finally made a lower low on the weekly. Yay, market's ready to balance. So did it turn around and balance off by pulling back with price? No, sir. It used time and it did not take much time. It did not take much time at all. And it immediately balanced it off and started the momentum higher. Again, bullish to see. All right. So then next up, we're gonna zoom in a little bit more and take a look at the daily and see if there's anything that jumps out at us there. All right, well, now we see the balance. Now we can see what we were playing with over the last few weeks. The market created this excess on the day timeframe. It broke out of this balance, created excess, and then it spent a couple of weeks balancing in here. Okay? That is what we broke out of on Friday. Okay? Was that balance area? Well, how do we think about breakouts from balance? What are the rules that we take into account which are the most common things to happen? Well, first and foremost, generally when you break out of balance, you're gonna move in excess to arrange at least about the size of the balance area. So however many points it was from the balance area high to the balance area low, you are likely to make at least that much of a move on a breakout. Okay? So that tells us we should be looking to test the 4960s. Okay? That's the direction the market is going. However, there's one other thing that we keep in mind when the market is breaking out of balance and that is that it often, almost always, needs to pull back down and test the breakout. Okay? It doesn't just go in a straight line up. It breaks higher and then it comes back, actually did that here, which is a bad example. But that was because of that weird FOMC meeting where we got that crazy gap, nothing to worry about there. Generally speaking, it will always break out of balance and then come back down to test it. So it tells us bigger picture we should be bullish but it tells us shorter term. As day traders, we should be cautious that the market needs to pull back down and test that breakout and make sure there really are buyers waiting there. Okay? So that's the information we're gonna carry forward as we zoom in and we look at the market profile chart. So this chart that you see over here on the left side of my screen, this is a market profile chart. This basically just takes the same information as the candlesticks and it just displays it in a three-dimensional way so that we can understand not just where did price go but how much time did it spend there and how much volume did it bring there? Those are the more important things. Jim Dalton says time is just, I mean price is just an advertising mechanism. Okay? So the price will go up and down and up and down and it doesn't mean anything. The fact that it's going up doesn't mean anything. The fact that it's going down doesn't mean anything. It is only what happens once it goes up or once it goes down with time and volume afterward. Okay? So that is what the market profile chart is. The chart that you see over here on the right side of the screen, this is the book map chart. So this is showing us the liquidity that's in the market at any given moment. If you see this white line that is just running down right here, that line is showing you the difference between the current order book, which is over here and what was in the order book when the market traded, which is over here. Okay? So we can see there's liquidity up here at 48.90. We can see that there's liquidity up here at 48.95. We can see some liquidity down here at 48.80 and 48.79, right? So that's the liquidity that's currently sitting in the order books. Those are orders waiting to get filled, okay? Then we can look over here on the left side of the screen and that will show us at that moment in the market where was the liquidity? At this moment here, there was liquidity here. At this moment here, there was liquidity here, here, here and here, okay? So being able to see how the liquidity in the market, the orders that are waiting to get filled, being able to see where that liquidity is gives us an edge. For now, I'm not gonna focus on that liquidity though. It's too early. We still got another 20 minutes before the market even opens. Most of the participants are in the shower right now. They're not even ready. They don't have any orders in the order books. So we won't worry about that. We're just gonna focus for a moment on the market profile, okay? So we talked about breaking out of balance, okay? The area that I would define as the balance area high, that is the level where we were able to break above that created this momentum that we're experiencing now and the level that needs to be back tested as 48.25, okay? So as long as the market still has momentum, we don't worry about that. Right now, the market is above Friday's range. So that tells us that we're gonna open with a gap up. A gap up is a signal we still have momentum up. The market still wants to go up. So if the market can find support anywhere above Friday's high around 48.75, okay? As long as you can find support anywhere up there, it can even come down and poke down into Friday's range a little bit. If it finds support, if buyers step in, we should be bullish, okay? A combination of a breakout of balance, followed by momentum, followed by a gap up should tell us the market is gonna keep going. Actually, let me just, we're not in any hurry. Let me just slow us down here for a second and we'll really look at how the market broke out on Friday. Cause I want you guys to understand momentum. It's such an important thing to understand. Momentum is like the train is going at a certain speed and you don't just stop a train instantly, okay? Momentum, it has to roll over. It has to slow down and roll over. So I need you guys to understand how to read, has it rolled over yet? Are we out of momentum yet? Or is this train still a going? Okay, so we got above the balance area high on Friday. Boop, boop. We began to create some momentum intraday when the market began one time framing higher. That's something you can learn about if you take one of my courses. I'm not gonna get into it now, but anyway, the market gave us a signal it was gonna go up all day, okay? So then it made lower highs, lower highs. So sorry, lower lows, lower lows, lower lows, okay? Oh my God, sorry, brain fart, higher lows. Just look at the picture, ignore what I'm saying. Made higher lows, higher lows, higher lows, okay? What did it do in that time? While it was doing that. It spent all its time and brought in all its volume above that balance area high. So that was the market telling us it had momentum and it could keep going. So then it gets above the overnight high and like a rocket ship. It just starts to take off to the upside. Just short covering after short covering after short covering. And what did it do in the wake of that? It left behind multiple sets of single prints. So when we left behind this set of single prints, in the H period, we assumed the momentum was gonna continue in the I. When we left behind this set of single prints, we assumed the momentum in the J period would continue. When we left behind this set of single prints, that was a very interesting sign because it told us the market didn't need to pull back down. We had all this excess, we had all this momentum. That train just went straight to a new price. But it didn't need to go back. It didn't need to pull back. So it's not rolling over yet. It's not slowing down yet. It still has momentum. Well, the gap up this morning, opening above yesterday's high is another sign. It's the market screaming at you. Hey, we still have momentum. The train is still a-going. It hasn't stopped yet. So you don't wanna fight that train. You don't wanna step in front of that moving train. You don't have to try to jump on the train, right? You can just step aside and wait for it to roll over and then look to get on when it makes its next stop. But you do not wanna try to step in front of that train because it's not reversing yet. So what would be our sign this morning that it was reversing, that it had slowed down, that it had rolled over, that it was ready to go back down and start filling these single prints that we left behind? What would be the sign? Well, sign number one, we would fill the gap. We would get to yesterday's high and we would not bounce there. So if we come down, we expect to bounce and continue higher. But if we don't, if we pull back down and we don't bounce, that's a little bit less bullish to see. So then if the market starts to spend time inside yesterday's range, maybe it starts to do some chopping and some grinding in this exact same area around 48.69 that it was doing it on Friday. That would be again less bullish to see because it really shouldn't spend a lot of time inside yesterday's range if that train is still going. If it's still chugging along, it shouldn't slow down inside yesterday's range. So the more time and the more volume that it starts to bring in inside yesterday's range will be the market telling us that that train is about to switch and go the other way and start heading back down to fill those single prints. So the next question we have to ask ourselves is okay. We understand this concept that balance leads to excess, excess leads to balance. It's like ying and yang. When the one runs out, the other just starts and they're constantly flowing from one to the other. So if the excess up is over, there are two ways that we can balance off that excess. We could either go sideways at higher prices and just spend so much time up here that the market finally has enough momentum to break higher. That is of course what we did last week on the daytime frame, right? We talked about this. That's what this is. This is balance using time. Everybody that thought we had to come back to fill these gaps, everybody that thought we had to get a major pullback because it was just week after week after week of the market moving higher, they didn't understand the concept of time. Time can balance off price. If you spend enough time, that's what you need and then you can go higher. Well, on a shorter, this is of course the daily timeframe, on a shorter timeframe, we could get that today. We could get the market just goes sideways in the upper end of yesterday's range and it spends enough time that it can finally continue higher. But if it starts to backfill these single prints, we think it might be using price instead of time, which would mean it needs to pull back at the very least to the first set of single prints, okay? Which is at 48, 41. So I'm gonna try to make this real simple. I'm gonna try to make it as simple as it can be. Above yesterday's high, bullish. It's gonna keep going higher. Inside this upper node of yesterday's range, it's neutral. We're either gonna bring in support and continue higher or it's gonna fail and continue lower, okay? But while it's inside there, we just won't know which it's gonna do. We gotta just watch and look for information. If it comes back and it fills the first set of single prints, which is at 48, 57, and then it bounces there, well, great, we get bullish there. If not, we assume it needs to test the next set of single prints. If it comes down there and it finds support and it bounces there, well, then great, we get bullish. If not, we assume it needs to test the next set of single prints. Here's where it gets interesting. If they can't hold that last set of single prints, if they can't hold 48, 41 as support, then things get very interesting because that becomes a back test of the balance area high, okay? So from there, the market should pull back down into this area around 48, 25 and look for support in there. We would very, very, very much suspect there will be buyers waiting there. Will they be enough buyers for an instant bounce? Well, who knows? We may just pull down there and then go sideways the rest of the day. But I do highly suspect that if we pull back down to 48, 25, there will be support waiting. Okay, well, what if, Charles, what if you're totally wrong and the market just goes, it opens it, it just goes straight down and it just crashes right through the balance area high and there's nothing there and then it crashes through Friday's low? Well, then we look for a much, much bigger pullback but the odds of that happening in my mind are much lower. The highest probability in my mind today is either the market goes higher or it goes sideways up here at higher prices. The second most likely in my mind is that we pull back down to test that balance area high and then we find out when we get there what happens. The least likely but still possible is that larger pullback that would happen if we broke Friday's low, okay? So now I've got my context. Now I know what to expect today as the market trades. I know what to look for. The opening bell rings, ding, ding, ding, ding, ding, what's happening up here? Is the market spending time up here or does it need to fill the gap? Spending time bringing in volume, bullish. Filling the gap and finding support, bullish. Failing to, neutral. I gotta step back, I gotta wait, I need more information. Breaking this area here and heading for the single prints bearish like intraday short term for a pullback but not bigger picture and then we just see how much of a pullback do they need? And then only if all three of those single prints break do we start to look for different opportunities, okay? So I would describe myself as bullish this morning right out the gate. Okay, so now I have my context. I know what I'm looking for. So now's where book map comes in and it starts to tell me well which of my scenarios is more likely? Where is there more liquidity? So remember those orders that are sitting in the order books the current liquidity that is available to the market it always acts like a magnet. Think about the market like it's an animal that's just really hungry and all it does all day every day is just sniff out food. Where's the food? Where's the food? Where's the food? I'm hungry, I'm hungry. Like Pac-Man, it's just the market is just always looking for liquidity. That's what it wants. So the first thing that I'm noticing when I look at the book map is that there is some pockets of liquidity right above the market, okay? There's some pockets of liquidity right here at 90, at 95, at 97 and at 4900. There's orders just waiting to fill up there. But more importantly, there is way more liquidity below. It's just spread out, right? It's just spread all throughout yesterday's range. It's not all clustered up there. So once the market opens, what starts happening with this liquidity above? Does it sit there and stay there? Or if the market starts to move in its direction does it stay there? Or does it start to disappear? The more of this liquidity above that starts to disappear, the more likely the market will need to pull back and fill the gap, okay? So on the book map, that's the first thing I'll be watching. All right, and then lastly, but not leastly, we have four minutes so the market opens. So let's switch on over and take a quick look at the Q. The NQ. Okay, so the NQ is like a day ahead of the ES. They had broken out on Thursday. Friday was a continuation of that momentum. So this is what I want you guys to pay attention to. The momentum began on Thursday with a breakout of balance. It was confirmed on Friday with the gap up and they never came back to fill the gap. What does that remind you of? Oh wait, this morning in the ES, it's the same thing. We broke out on Friday and this morning we're opening with a gap up. So if we get the same thing, if we get a gap and go in the ES where the market doesn't pull back down and fill that gap, you should look for a day very much like this day on the NQ. A trend day to the upside. Momentum, because breaking out of balance creates momentum. Okay, so it's pretty much the exact same thing I would say for the NQ as the ES. They've got four sets of single prints. One, two, yep, four sets of single prints. They've got a gap up this morning so it's gonna be exactly the same thing. Do they fill the gap getting back down to Friday's high around 17, 455? And if they do, do they find support there? If they find support, great, it's bullish. We'll keep going higher. If not, we may need to spend some time grinding around in this upper end of yesterday's range. If we break, let's call it 17, 395, I would look for the market to start back filling those single prints and one step at a time, as always. Back fill the first set, is that enough to reverse? If not, the second set, is that enough to reverse? If not, the third set, is that enough? If not, the fourth, is that enough? Now, if none of those hold this support, if 17, 275 can't hold this support, then I would look to test Friday's low and try to fill that gap, okay? But let's take it one step at a time. I would describe it the same as the ES. Highest probability, continuation higher. Second highest probability, just spending time rotating around at higher prices. Third, most likely probability is a pullback with price, okay? I'm a bull this morning, man, I'm a bull. And I'm a bull because I don't jump in front of the train. That's why I'm a bull, because I understand the auction process. I don't care why the market is going up, okay? I don't care how far it could go or can't go or whatever. All I care about is that it keeps going higher and more people buy it. And it goes higher again and more people buy it. And it goes higher again and more people buy it. And as long as they keep doing that, it will shock you how far they can push it. It will shock you how far they can keep taking it higher and just keep buying it and taking it higher and buying it and taking it higher and buying it. So as long as this momentum continues, I will assume it can continue. So first order of business, can they fill the gap? And if they do, do more buyers buy? Let's see what happens. Market is open. If you have not yet, please hit the thumbs up button. It really helps out, sending some new peeps to the stream. I sure would appreciate that. Got a couple of people hanging out this morning. We got Will, Tom Gunn, Mike, who thinks. Deter, Dedunk, Debbie, ES01, Busta Move, Siddhartha. Man, we got some tough names here this morning. Sleptosfla, sorry dude, I cannot do the foreign names, I'm the worst. Anyway, everyone welcome, happy to see you. Any questions for me? Hit me up in the chat on the YouTube and I will try to answer your questions as best I can. Good morning to Dean, Arget, Ships and NAP as well. Okay, so I'm gonna mark some support levels right now, but I'm putting some question marks on it because it's too early to know for sure if it'll hold any of these levels, but this is where I wanna be watching to see if it can hold it. Support at any of these levels, 44, 81, sorry, 48, 81, 48, 74, or 48, 69, and I'm looking for continuation higher. That would be bullish to see if the buyers can hold it. Nirva says, could I do it on NQ? I did, but I'll do it again really quickly. So it's exactly the same on the NQ. You are looking for, hold on, let me get away from these levels. You're looking for one of three things to happen here, okay? They're either gonna push above the overnight high, find support and that's just bullish to keep going, or they're gonna pull back down, fill the gap, find support at yesterday's high, that's bullish to keep going, or they're gonna fail to find support there, in which case you start to look for the market to backfill these single prints, right? So it's bearish like intraday, it's bearish for the next few hours that it would need to pull back and backfill some of those singles, and only if all those single prints are backfilled, okay? So, whoops, only if we're all the way back down to 17.268 and we don't find support there, do I really get bearish? Because it is a breakout of balance and it has momentum and it's bullish and it can go straight to the moon. So let's see what happens. Okay, so right now we have what we call a gap and go, that is when the market opens with a gap up and then it just out of nowhere, just straight up starts its momentum to the upside, okay? So this is likely short covering, it's people that were shorting at the end of the week last week, assuming we needed a pullback, they wake up this morning, they see, oh no, fuck, it didn't pull back and they start covering those shorts, that pushes the market straight up like a rocket chip. So that is bullish to see and the question becomes, do new buyers keep stepping in? So the first level that we're watching for that is the overnight high here at 48.90, can they hold support there? If not, it'll be just above the opening price here at 48.87, can they hold support there? If not, if that support breaks and we pass back through the opening price, they will likely need to fill the gap. So I am now bullish as long as we stay above the opening price, if we pass through the opening price, I'm looking for a gap fill to 48.74. Let's see what happens. Scott says, Charles, when is the deadline to sign up for your next class? Dude, Scott, thank you, I totally forgot to plug the workshop. Oh man, thank you for reminding me. Yeah, so this is a big deal. I got a workshop coming up in February and if you wanna sign up for it, now is an excellent time. We got an early bird discount going and it ends at the end of this week, okay? So if you are looking to sign up, it's now, or I mean, you could do it later, but it would cost more money. It's now or later with more money. So sign up now. You would just head to marketsandmind.com, scroll on down, do, do, do, do, do, do, and then you can see it right here. And so you just click on the sign up now and you can sign up. So right now it costs $345, but this weekend it's gonna become $445. So if you have been thinking about taking your trading to the next level, if you have been thinking about honing your skills and mastering the actual process of successfully trading on a daily basis, you should really give this workshop some consideration, okay? The reason I call it mastery of markets and mind is because I have found that my community is a magnet for a very specific type of trader. These are traders who have been trading for a few years who really understand markets. They've found a bunch of different things that kinda work sometimes and kinda work other times, but they haven't really been able to consistently profitably trade. So if you can consist, if you find yourself in that position where you can read a market, but you can't quite figure out how to make money out of it, it's like you have good weeks and bad weeks and you just keep ending up at break even, probably your problem is more psychology related. It's probably in your head and slight subtle little changes could have a huge effect on the outcomes of your trading. So I've built out this course to teach people, of course, how to read a chart, right? I'm gonna teach you everything there is to know about how to read a chart, how to read the two-way auction process, how to know who's doing business, where and what it will lead to, okay? But I also teach you, I think much more importantly, how to study yourself, how to study your own behaviors, your own decision-making mechanisms. Why did I do that there? Why did I, I knew the market had momentum, why did I try to fight it? What could I do differently next time? How can I create a system so that if this happens again, I don't lose money? And even better, I make money. That is what I teach in the course. That's why I call it mastery of markets and mind. It is fully encompassing. It's how to read charts. It's how to enter trades. It's how to manage risk. It's how to develop your skills as an individual. It's about good habits, good routines, everything. It is all encompassing. It's two weeks long. It's about three to four hours a day. The lessons are a lecture form. So the first like hour or two, I'm teaching based off of a PowerPoint. And then I move into the live markets and just discuss what's happening and answer questions. All of the sessions are recorded. So if you have like a day job and you can't watch them or something comes up, you can go back and watch them later for up to a year. And the coolest part is, this is where it gets really good. Cause you guys heard me say, if you want to save that hundred bucks, you got to sign up this week. I offer a 100% money back guarantee to the day before the course starts. So if you sign up now, you head to marketsandmine.com and you just go ahead and sign up right now, get yourself on. Well, a week or two from now you decide, I don't like Charles anymore. I decide I don't want to take my training to the next level. You can just email me, I'll give you your money back. So it is worth signing up now while you can get that discount. And then in February, learn how to make money in this business consistently. And I'll give you the hint. Step one is stop losing money. That is the main thing I will teach. I will teach you how to protect your capital so that you can then start making more of it. Because the biggest problem that too many of you have is you take trades, you lose money, it fucks up your psychology and then you don't learn anything and you don't get better. So you tread water for weeks, months, years even. I know traders that have been trading for five, 10 years and they're still at break even. And if you're treading water like that, this course could be the thing that is really the game changer for you. So check it out, marketsandmind.com. Speaking of the markets, so far we have pushed above the overnight high and we are bringing in more buyers, or sorry, we're bringing in more business. We're seeing the volume up here, the liquidity. So let's go ahead and we're gonna take a look at what I call the market internals. I learned these from Peter Resnicek and it's basically a set of tools that kind of give us a under the hood look at the market. So I saw that the market had a gap up that meant it had momentum up, made me a bull. I saw that the market pushed above the overnight high. That's interesting to see. Now I wanna see is what happens next. What are the market internals telling me? Buyers are stepping in. So that is bullish to see and increases the odds. The momentum up is not over. So I am definitely looking for support at that overnight high. Can, they hold it. Here we go, testing that overnight high. Okay, so no support at the overnight high. They've now got to hold 48, 87. If 48, we'll call it 86, which is the opening price. If the market passes through there, then we're looking for it to pull back down to yesterday's high. But if it finds support right now, that is a gap and go. And there ain't no more bullish signal than that. So I'm watching these ticks to see if they bounce off the zero line or if the market crashes through. Do we have the buyers? Stun says, how do we pull up the market profile chart? So there's lots of different market profile software out there. The one I use is called Window Trader. You can just Google it, Window Trader and you'll find it. It's the most expensive option and it obviously is the most advanced with the most bells and whistles. But there are a lot of options that are either free or nearly free. So if you just Google Market Profile, I'm sure you'll find something. The most important thing to look for is just simply that it shows you how much time the market spends in certain areas and how much volume. So if you look like in the overnight range, we can see that right here, we spent a lot of time, brought in a lot of volume. We can see here in yesterday's range, spent a lot of time, brought in a lot of volume. Those are the areas we wanna be aware of as they are likely to act as support or resistance and they are likely to be the areas where something changes in the market. Okay, back above the overnight high. So once again, can they hold that as support? Big question, Mark. Can they hold it? Man, they are squeezing some short-term traders here. Guys, stop shorting. They're just gonna keep taking out your stops every time. Don't fight momentum. I don't know why people don't get this. Don't fight momentum. If you don't think it's gonna go up, just don't trade. Like why try to trade against it? Okay, I'm watching this note of liquidity up here in relation to this iceberg. The iceberg is sitting right at the current high. My assumption is they wanna force the market to keep reversing here again and again, keep poking into it, poking into it, poking into it. The reason they will do that is to create, get people to put their stops here. So those scalpers, those short-term traders, they see it bounce and bounce and bounce. They think, I got a short, I got a short. And they put their stop right above and then boop, that's all they need to get up there to 48.97. So let's watch that iceberg and let's watch that liquidity and see which one disappears first. If the iceberg stays and the liquidity disappears, well, then we'll get a pullback. If the liquidity stays and the iceberg, we're gonna get this fake out. Stun says, Charles, are you here each day? Just Mondays on the book map stream. Just Monday mornings, but I am doing it every day for the brigade members, the members of my community. You can see the link at the top, piratraders.io. Forward slash join. See, look at that iceberg. So the iceberg disappeared. So they're done playing games. Now do they get those stops? Well, they poke up here and go boop, boop, boop. There you go, there's the first boop. Nope, new sellers piling on, they're trying to do it again. Round two. I will never understand why short-term traders always want to try to sell the high. Will never make sense to me. Oh, thank you, demo trader, appreciate you. The conscious monkey, I guess that's kind of what we all are, says, hi, I'm here for the first time. Charles, what chart do you use? The chart on the left, the order flow chart. So the chart on the left is market profile. The chart on the right is book map. Book map is showing me the liquidity that is the orders that are currently in the order book. And the one on the left, the market profile is showing me where the market spends the most time and where it brings in the most volume. Wow, no short covering here, that's interesting. I thought they would take out some short-term traders, but they're not, boop, there it is. Yay, all right. So that's momentum, folks. We have a gap and go, we pushed above the overnight high. We are bringing in new buyers. So now we start squeezing anybody who's been selling and we get some short covering. Let's see how far they can push it. They do need to pull back down once again and test that overnight high for support. But for now, we got some shorts to squeeze first. Yeah, so this is kind of complicated to explain, but you have to understand the market moves on different timeframes. So we've got a lot of momentum on the minute timeframe, like on the people that are trading the one minute candles and the five minute candles, there's a lot of momentum right now, but bigger picture, the market is getting itself overextended. I don't like the fact that the ticks were never able to get back to the zero line. Okay, that tells me strong hand buyers haven't had a chance to do business. And I don't like the fact that we still have that iceberg sitting there in book map at basically the opening price area, 48.83 or a little below it. Those are both signs that there are stronger hand buyers waiting down here for a chance to do business. And so that tells me that this is just a very, very short term move. And it may only last for, I mean, I don't know how long it could go all day, but I'm saying it's gonna run out, it's gonna run out. So let's see how much further they could push it and then keep a very close eye on these potential support levels and see if they hold. Jim Dalton describes it as the market getting itself overly long, overly fast. Scott says, the small 20 to 50 icebergs trailing above and below is never a thing I noticed this year happening way more and does normally result in a pullback, but everything is off the table at all time highs. Yes, sir. That's a very important point to note. Those that have traded at all time highs before, you understand that there is no end to how far up it can go or how quickly it can go there. There's just no resistance above. So the market, all you can do is monitor the momentum. Is it still going? Are we still bringing in buyers? Okay, great, then it can keep going. And here's our chance, we're back at support. So now we can monitor, are there buyers? Is it gonna keep going? If not, we'll change our mind, but we have to be very nimble. We have to be like water, my friends. You put water in a cup, it becomes the cup instantly. You put water in a teapot, it becomes the teapot instantly. We must be like water, my friends. Sam says, usually is having the ability to make automated trade a worthwhile strategy. Boy, that is a tough question for me to answer for you, Sam. So the simple answer is yes, okay? If you have an automated strategy, that's the way you should be trading. The future of trading, especially in the day timeframe, is gonna be 100% computers, okay? So if you've got that skill, if you can write programs and study them and make adjustments on a daily basis based on what's working, what's not working, kind of fine tune it consistently, that is the type of trader to be in the years to come. Absolutely. The bad news, I can't teach you how to do that. That's not how I trade. I do exactly the opposite. I am a fully discretionary trader. My edge is my discipline. It's the fact that I'm not a machine. It's the fact that I can choose to take a trade one day and avoid it the next day. So for example, right now, the market just created a poor high. That tells me we're likely to push away for the poor high, looking for support to come back and repair it. And maybe one day I would say, all right, I don't really wanna take that trade. I don't wanna buy support to come back and poke through the high because we got a gap that needs filling below. But the next day, there might not be a gap. You know what I mean? So every trade I take is purely discretionary based on what's happening in that moment in the market right then and there. And so it can't be taught to a computer because it's just too complex. So yeah, if you can learn to trade algorithmic rate, that's what you should do. But that's just not what I do. Conscious says, I'd like to get market profile like yours or using Sierra. I'm not using Sierra, but I do have people in my community that use Sierra and they love it. They think it's great for market profile. So I don't think that's a bad choice at all. Okay, so here's that push away from the poor high. So now the question is, will the market find support and come back and repair it? I don't think this node at 95 will do it. So we will probably need to pull back to yesterday's high or maybe even down, like I said, this little node right above the opening price, 48.87. Either one of those could be the support to come back and repair that poor high. If the market pushes back through the opening price from here, gap fill. Real quick, because then you'll squeeze all the buyers, but the higher probability right now is support and then move back to the high. Let's see what happens. Okay, no support at the overnight high. So this little node at 87 is the last hope the bulls have, can they hold it? All right, well, I'd hoped to have a little more information before bringing this stream to its end, but unfortunately I gotta go. I'm gonna say goodbye to all of you, lovely people. If you are a member of the brigade, head on over to the brigade stream and we will hang out there and see how this thing plays out. But right now I see it is literally only one of two options. Either the market is gonna continue to hold this support and the momentum to the upside will continue. We do have a magnet now tugging on price with that poor high, but if the market pushes back through the opening price, I would 100% be looking for a gap fill and then probably sideways from there. So too early to say which it's gonna be, do we take out the high or do we come back for yesterday's high? But yeah, you're just gonna have to wait it out. You're gonna have to deal with some chop in the middle until it breaks one way or to a duh. Thank you very much and I look forward to seeing you here next Monday. Thanks a lot guys. Have a good week. Bye.