 Good morning, Traders. Welcome to the Traders Lab. I'm your host, Tom B. Can I please get a sound and screen check in YouTube and also the Bookmap Discord Trader Lab Chat? Good morning, Traders. Welcome to the Traders Lab. I'm your host, Tom B. Thanks for stopping by today. We are in balance, apparently. I stream live Monday through Friday, 11.30 to 1 p.m. standard time. This stream is about integrating Bookmap order flow tools with auction mark and theory using the volume profile in the intraday developing timeframe using a top-down bottom-up approach. General disclosure. All Bookmap limited materials information and presentations are for educational purposes only and should not be considered specific investment advice or recommendations. Risk disclosure. Trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. And please remember this is not a trade calling room. This stream is for educational purposes only and is based on structured trades that are available to everyone in the Bookmap Discord Trader Lab Chat. The way this works is I will be giving you a top-down approach. I'm going to share a few minutes with you on the higher timeframe and why it's important to understand where we are in the developing daily timeframe. And this process works very much a top-down bottom-up approach. And I always kind of equated to Matruska dolls or those Russian dolls where they are inside of each other, starting with the large doll all the way down to the little one. And the little one, let's call that microstructure. And microstructure is where we may be able to get into the more minutia of the participant behavior and based on that, using structured trades that you need to vet for yourself. And there are 60 PDFs you can download of these trades. So you can follow along in the stream and anticipate them just like Trader Lab participants do and then determine if you can reverse engineer them and if there's a statistical edge. The other element that I think is very key for retail traders is to understand really the business that we're in. We're not in an indicator-driven business. We're not in a prediction business as much as we want to predict what will happen. I get the term prediction. But psychologically, the term prediction denotes that you know what will happen. Let us try to change and reframe what the business of trading is. It's a gaming process. And in gaming or in the casino business, which is really a business model that we might want to emulate if you think they have a profitable business, they don't know the outcome of the next hand or what's going to happen or how the gamblers play the cards or the cards that come out of the deck when they deal. So that's a completely random environment. That's what creates gaming. Now, the reason that the house is able to build larger casinos, give you the tickets to the buffet and see Dell and the rest of it is because they have what's called the statistical edge. And they're not random inputs. They're anchored inputs. And this is where we deviate as retail traders. We have random inputs, multiple inputs, multiple time frames we tweak, we tune, whatever. Our search is for certainty in a random environment. So we try to compress risk out because we are wired to run from the saber-tooth tiger. Yet if you want to think about it, we actually have to run into the burning building that we're on away from it. So it's completely counterintuitive to our survival instincts. And please don't underestimate what is going on under the hood in your brain that is disrupting your intentional behavior, but also the choices you make as far as even how you attempt to operate in this environment. Those choices are guided by your instincts in your psychological needs, your wiring, not so much by the business. In fact, the casinos operated the way we do as retail traders. They wouldn't be in business. And I think the statistics and of course past performance does not necessarily relate to you, but the statistics for retail traders suggest maybe they are gambling and they don't have a business process. The casinos experience losses like we do. The difference is for them, a loss, this cost are over it. For us, it's a personal failure or even a tragic event. Isn't there a difference? Something to think about. Now let's go talk about the higher time frame. And so you know, I cannot see your questions at the moment. My chats are covered up. Also, I want to remind you guys, as most of you might know, I'm streaming from Costa Rica where I like to spend the winter. However, the power goes in and out over here. The monkeys and I had a troop of monkeys about 20 feet off the veranda. I guess you'll call it here of the villa I'm in. And they were quite vocal this morning. And these guys are like small linebackers. So, you know, 20 to 30 pounders, not something and they have teeth that are huge. So, you don't want to mess with the monkeys and the monkeys do mess sometimes with the internet. If I go down, I will attempt to come back into YouTube. I should be able to continue in YouTube. I had backup support from BookMath. Thank you. And I will come back into the Discord chat, but everything has to recycle and reset. So, it could be a few minutes. Also, I want to remind you that there is a community in the Trader Lab, in the BookMath Discord chat, and there's a library of webinars and PDFs you can download if you want to anticipate what's going to be going on here in the stream. And thanks again for visiting the lab. This is our TH candles. Now, I went over this last week and I just want to kind of bring you into it again. And again, I don't know how much I'll be able to do of this, but it's very important. Remember, Matushka dolls, top down, bottom up. So, this is the top, our TH candles. Now, this is very important. Now, last week, I talked to you guys about this is what's called the distribution. It's a shopping, trading is a shopping experience. Too low, too high retail. Now, here, why too low? Well, if a price gets too high, there's going to be less and less, less buyers up as the price goes higher. You see in the volume profile how the volume papers off. If the price gets too low, now intuitively might think, well, they're going to get a lot of buying there, right? But they're not, what they're going to get is, oh, it's on sale. Now, unless it's a permanent sale and they've lowered the retail price, it's only going to be on sale temporarily. You know how sales work. They're not permanent, right? They're temporary. So, there's less volume here because the sellers don't keep the price here. And if you were a shopper and you thought this was a retail price, that's high volume, and that's what happens in your store. This is sale. This is too high. Volume papers on both edges. Okay? So, when we came down on Wednesday last week, we came down to the sale price over here. Coincidentally, and I want to say that because you have to think coincidence, because if you think predictability, you're going to do yourself a disservice because it's all random. Write that down. This was too low. So, if this was on sale, we came back to the sale price and the buyer said, oh, what a deal. Off we went and we reversed and came all the way up here. Okay? Now, here's what's important. The next day, and now we created high volume. There was high volume. Okay? Actually, here, high volume, retail. The next day, two-sided trade, and we came down and we checked this. I'm sorry, I meant the wrong one. This one, missed it like by six ticks. I'm all right with that. How about you? And then, so what did we have? Week low, week low, remember? Off we go. Squeeze the terrier. Sellers and buyers, notice the tail. Now, so I'm drawing the volume over because when it overlaps, that's the consolidation. Let's look at this. Buyers on this side, and what do we do? This day was the high, 33.25. What do we do on Friday? Take it out. No buying on top of it, which to me indicates the potential of just a short squeeze, and now we have a tail going the other way. This is called balance. Now, here's a couple levels. Make a note. And this is just, you know, for educational purposes only. We all know we don't know, right? So 49.24 is a high volume area. Think of it like retail. 49.30 is a high volume area. That's retail. 49.17, high volume area for these three days, retail. Outside edge, down here, low volume area, about 49.03, then down to 49.00. And what's under here? Remember, we have FOMC this week. We got big reports tomorrow. Sell stops, sell stops, sell stops, week low stops. So that is something you might want to note. And let me just give you a couple other little things here. This is 49.16 is Friday's volume point of control. In other words, high volume is retail. And I'm going down in fractals. So I just want to show you this is important. Down here is important. If we take this low out somewhere this week, which we may or may not, it's not a recommendation. This is on the hip rate. 67. So who knows, right? But make a note of that and you might find it interesting. And again, I think the term I want to use is not our job to predict, it's just maybe. Let me see if I can back out of some of this and get to some of your questions. Hold on. Now, this is like engineering down here with all these windows. I'm on a laptop, you know, so I got to say it gets kind of interesting. One moment. There you go. Okay. Okay, we doing all right, guys? All right. And let's try to keep the comments to the stream if there's any questions and also they don't roll off the stream screen. And in YouTube, remember, if I drop out, it's because I'm in Costa Rica and things get weird. I mean, I was trying to watch the game last night and the power would go off. You don't know how upsetting that can be. Doesn't, you know, monkey swimming, you know, where the monkeys were getting upset. They must have been for Detroit. I don't know. Anyway, here we go. So this is the RTH open. Now, let's, I want to show you those levels so you can kind of see how this all relates. This is that high volume area 24, right? Retail in a fractal. Matushka doll. ETH high. Friday's retail price. Overnight volume point of controls. The ETH retail price. We got a couple of the little items in here to go over. Value area high, which is from Friday. That's where the top edge of 70% of the volume. Don't worry about it. It's just something to kind of, you know, the joy. Value area low overnight mid. These are all have statistical probabilities. Yesterday's low. If we get under yesterday's low, remember I showed you in the higher time frame, things could get slick. So now, is everybody tracking so far? And if you're in YouTube, notice what I posted at 7.02 AM in the trader lab. And there's a lot more. But part of the preparation for the day is we saw the market is two sided trade end of last week. We had in those RTH candles, Wix Thursday and Friday, basically Wix coming and going. So it was compressed extremes on both ends. That means it's like a standoff. Well, it's also another way to look at this is compression. And that on either side of consolidations, and you guys know this in all fractals and timeframes, there's stops. The stops become the fuel and the energy. Now the key piece that has me kind of thinking, and I'm just saying thinking, all I can do is consider the possibilities is we took this high out here, right there. So here's your buyers, sellers, buy stops, we're here, took them out, no buying on top. That makes me think, and again, I really want to stress this, it could go either way. You know, I mean, that's not it. But we have not taken the longs out. You see, longs are safe, longs are safe, longs are safe. And this was like really, we couldn't get down here, longs are safe. All the fuel is piled up underneath us. And again, can do anything. But write this down, the market goes up to go down, and the market goes down to go up. You do note, by the way, let me just show you something. Have the longs haven't had any problems since back here. You notice it's higher highs. This was the best shot they had to take out the longs was right here, and we were looking for that to happen, didn't happen. All this belongs in this leg. Think about that. The market goes up to go down. Why? And you're going to think, well, it could keep going. Of course it can. But let me ask you a question. If we were not out of buyers, what are these sellers going to do? That's why I'm thinking, the market goes up, they go down, and the market goes down, they go up. I want you to please make a note of this. It's not a prediction. It's just fun facts to know and tell. Are you guys tracking with me? Okay, our THO. So based on what we know, we are in two-sided trade. And that's what, if you look in YouTube, you'll see what the questions are. What's the current context? What did we do on Friday? What is the current auction in the ETH? What anticipated behavior based on those inputs? That is key. Do you just step in and start pushing the plunger? I mean, is this like sitting at a one-arm bandit, a slot machine, and you're here to play video games and gamble? And if it is, it's okay. But in the business side of trading, we don't want to do what other traders do. And we still will because we're human. But the more we can differentiate our behavior, the better it is. Now, look where we're opening. This in a higher time frame is retail. That's the highest volume in the past, I think it's three days. I can't remember. This was the retail price on Friday. And retail means highest volume. Remember, shopping, right? So, all this is saying fair. So, we're opening in a fair area. Let me just get this down here. RTH open. So, we're opening. Guys, what is the actual open since it's covered up here by something? I would just want to have that level. No number. How about you discard the RTH open print? 19, 18 and a half, 18. Do I hear 19? Do I hear 2020? I'm 18, 50. I'll take one of those. 19. Hey, it's like a battle of the bands over there. Okay, close enough. The old saying, horseshoes and hand grenades. So, I'm going to take you into microstructure and I'm going to show you structured trades based on the Bookmap Discard Trader Lab Chat. Now, here's what's important. I'm going to show you structure. I'm also going to say to you, we're opening in balance. What does that tell us? Nobody's in control of this thing. It's two-sided trade. If you open that near a retail price, we can anticipate two-sided trade just like you saw in the higher timeframe. It's all like, yeah, we like this price and let's rotate. So, the key in this kind of trade is patience because it sets up something called, and write down this term if you haven't heard of it, mean reversion. And the joke in the Trader Lab is, yeah, it's mean. Mean reversion is outside end trading, not inside out trading. And it requires patience. It's very easy when the market's balanced just to get rotational trade. And we never know, of course, what's going to happen. This is part of the joy. So, write this down if you haven't thought about it. I know I don't know. My term is a little deeper than that. Clueless. And that means I don't know because I can't remember. Trading is random. So, write this down. It's random. And you may not want to accept that it's random, but I think it's really better for you to have a belief in randomness like the casinos do because the casinos aren't changing their games. They accept they're in a random environment. Otherwise, they'd be doing what we do as retail traders, tuning, tweaking, more indicators, more time frames, a volume of this, a tick of that, a different configuration of this, a VWAP, a VWAP envelope, oh, 1.5 standard deviations, I think 1.25 is good today. Oh, we missed that 20 point rotation. I think I'm going to use a stochastic, but I'm going to use a fast K, not a slow K. Does this sound familiar? That's what retail traders do. It's not what the casinos do. Darryl, thanks for the 19 and everybody else who responded to the opening. So, let's try to figure out what's going on here in the open. RTH open, 830 by time central time. Now, this is called the developing volume point of control. It's a yellow line. That's a market profile term or what's called point of control, but now with volume, volume profiles, volume point of control. All it is a point of control is retail. So, let's just reframe it a little bit. What's this thing worth? Now, what the value of the product is, whether it's a can of tuna or an S&P, is determined by the participants in the market. Is this too low, this yellow line here, or is this too high? And if I start chopping, so as the market opens, this is at zero. So, it resets at zero. This is the session volume profile. It's going to show us all the volume as it comes in. And this is going to show us only what's on the chart. Both of these started RTH open at zero, but I can zoom in and out and see just the volume based on what's in my view. So, I can adjust this one by what's in my view, so I can see micro. And this is going to show me the whole enchilada. And I'm saying enchilada, not because I'm in Costa Rica, just because maybe it is, I don't know. This is the delta, which will show me in the rotation who might be on the hook. In other words, where the buyers are, where the sellers are, it's nice to have. This shows me the volume. And since we're in the shopping arena, if you think trading might be shopping, which you may or may not, then we are shoppers. And so are the other participants. So, if we're in balance, we can anticipate two-sided trade. Now, there's a little bit more, of course. Why should it just be? Now, I don't use any indicators. I am sharing the market pulse with you guys, because I've been had requests that, you know, what about that, you know? And it's a tool that's available in bookmap that at times, for me, if it's in alignment with other processes, it is not the top of the, shall we say, the food chain. It's the bottom of the food chain. In other words, the participant behavior and the distributions and the behavior of the market or the chassis is this. And then, if I have alignment, I might be able to use this, which is volume pressure and delta to see edges. I can trade without this. You need to be able to trade without indicators, in my opinion, or at least be able to recognize locations. That indicators don't define locations. They only drive, it's like Formula One driving in the rearview mirror, because they're lagging. And the other problem for me, at least, and I didn't realize this until I built trading systems, was that in spite of my attempt to systematize context, it was always lagging. We can look at rotations and throw indicators on them, but the problem we have is that the market does not operate, isn't the same. It goes from directional to rotational. Currently, it's going to be rotational. The plan or process or indicator that might work for you in a directional market will cause you great pain, potentially, in a rotational market. So let's go take a look. I have to say these things. It's important. Overnight volume point of control, this is the retail price. Now, retail in my world means highest volume. Remember, supermarket, okay? Yesterday, Fridays, highest volume, there. So right here is a retail or an accepted price. So if we open, and right here, I don't know what's going on. I'm looking at this, I'm going, you know, this is what I do, and the term I use is clueless. If I break low, and I don't know which way it's going, this here's like a standoff to me. I'm looking at this, I don't know. What's it doing? Do you know? Chop, chop, chop, chop. I don't know. I see my seller. Now, what I know, because I have a price map, and this is part of what I was showing you in the higher time frame, this is just down into the next levels down. Same thing as I showed you at the top of the screen, this was retail. Now, the thing about this is, if I'm at a higher price, and I come down to retail, is this price too low? That's the question. Now, I don't know the answer. So let's look at this. I have a level, though, that's already on my chart. This and this is before the RTH opened. So I know because I understand how the market works. I don't know what it'll do. So now we want to see what's going to happen. Now, let's look at this. Delta is short CVD, chart volume Delta. It's only showing me the Delta from this leg. You see the selling? Delta. Now, market pulse. Again, what comes first? The chicken or the egg? The indicator? Or the tail of the dog? Does the tail of the dog wag the dog? Or does the dog wag the tail? This is the dog. This is the location. Here's the tail. Watch. Delta's negative. That means early selling. Don't forget, we have FOMC this week. We have key reports tomorrow. The market is long. All these longs are in the market. They're having a great time. They've taken no heat if they're trailing under RTH lows. A lot of energy built up under there. And to me, that's like somebody lit a fuse. It's just a matter of time, not a recommendation. Watch. Now, location. This is a potential long in the trader lab if you have vetted it. Now, here's the trade. Now, this right here is retail. So, if this price retail is too low, then it could come back here. That's called mean reversion. So, let's look at it. Here's your micro structure. Here, nobody knows, by the way. So, let's look at those. Buyer, you see, look at the change in behavior. Now, this is fractal trading. This is not something. This is like speaking language. So, it's going to be, if you're indicator-based, you're going to be looking at this going, how does he know? Let me give you the answer. I have no idea. Doesn't that make it simple? I don't know. But here's what I know. Condition to the market based on higher time frame, balanced. Locations that were already on the price map of potential behavior, underlined term potential, with no idea. Change in behavior, there's a buyer. This area right here, and I have my delta and I have my volume pressure going on here, my market pulse is going, maybe we're oversold, the pressure, everybody's upside down in this leg. There's a change in behavior. This is now too low. Here's the test. Watch. Test. This is along in the trader lab. Your stop will go under here. Scale is here. Now, here's the thing about this. This is structured trade. Now, let me explain something about structured trades. You have to vet them. You would anticipate them. Notice at the top of the YouTube chat at 7.02 this morning, I put, what is the current ETH What anticipated behavior based on the inputs? That means you do not make it up. You do not impulse. You are waiting for your bus. This is a bus stop, if you will. This is a price that was retail in the ETH on Friday, highest volume. Is it now too low? That's the question. Is it now too low? And of course, we won't know until we know and we don't know until after the fact. That's what the joy of trading is. It's random. Right here's the buyer. Right here's too low. Right here's the location. Right here's the entry. Here, here, here, wherever you get in, stop under here. This is what we want to clear. Opening swing high is here. What's above this? Stops. Let's watch. VPOC migration. Now, micro, too low. Back to the reversion. Scale, pull back. Now your stop would stay here. Now let's go think about what's next on the hip parade. What do we know? Well, we don't know anything. Right? You're going to say, did you know, based on the statistics that are available to everyone in the Bookmap Discord Trader Lab Chat, there's over a 90% probability that we're going to take out either the ETH higher or low, past performance, not indicative of future results. Did you know in the Bookmap Discord Trader Lab Chat, there's probably about a 70% probability you're going to get here, past performance, not indicative of future results? Did you know in the Bookmap Discord Trader Lab Chat statistics that there's about an 83% probability-ish that you might get here? And do you think that might help you? Past performance, not indicative of future results. You got to vet all this. So if you buy this, scale this. Is everybody with me? Trader Lab? And I know some of you in the Trader Lab take these trades. Why? That's our job. Are you guys tracking? How are we doing in YouTube? Is it making some sense? Is it logical? Is it logical? Now, the problem we have with indicators, and let me just tell you our problem, we see a cell, we get short. What do we do here? Do we get short here? Do we get short here? What do we do? Do we get only long and not short? What do we do? How about this? Where do we do it? And what plan do we use in this configuration? Is this the, I'm getting short and we're doing the Alcapoco cliff dive trade? Or is this the mean reversion trade outside in only? You see? What is the trade? That's my question for you, because if you don't know the difference, you're going to try fitting the market into a one-size-fits-all. It would be so easy if it just, you know, it was like plug-and-play. Wouldn't it? I mean, I know, I understand. Believe me, we all have done that. The thing is, if you're still doing it, I call that trade a groundhog day, because you get rewarded. Gamblers win, but gamblers are not using anchored inputs. The casinos are. What can we learn? Now, remember in the higher time frame price map, let me come back very quickly. Maybe if I get lucky here and I don't blow things up. 20, where am I here? 24 is a target on the high end. So remember, balance, right? Too high, seller. Too low, buyer. Compression. Pick the stops off up here on Friday. If we can't get above here, all these buyers are going to be grist for the middle, not a recommendation. Next level up, 24. And then we have something above there. So let's go back. Let's come right back. This is so you know where this comes from. Where's 24? There. It's right, the same level. Now you know where it came from. So where am I going to try to go? High level or high volume, too low, mean reversion here. And where am I trying to go? Here, over 90% probability, and then here, too high. Let's watch the behavior. VPOC migration. I got to label this thing, by the way. I'm getting lazy. Actually, I'm not getting lazy. I'm multitasking and you shouldn't do that. This is like checking your email while you're trading. Not a good plan. So this is the retail price in the developing time frame. It's too low. This is the retail price from ETH and Friday. It's too low. I labeled this. It's too low. This is now the current retail price and it's moving higher. In the micro structure, this is too high. It gives me my downside rotation. Okay. If I stay above here, it is the same in fractal. See, I tested it and I lifted. What did I do here? I tested it and I lifted. I fractal. I tested it. I lifted. This moves higher. Next time frame down. I tested it, developing time frame. I lifted. Now, up in the micro structure, this is too high. You see my seller? But what's my target here? Now, I've got choices. Let me tell you what they are. If this is too low, I can manage my trade under here. If this is too high, when I come back to it, if I can't clear it, then I'm going to retrace. This is mean reversion. Remember, mean reversion outside, and we don't know where the high of anything is, part of the joy. Mean revert, come back. If we don't take this out, rotation up, now we have to clear this. Is that makes sense? Can you see why? Now, I'm trading multiple time frames. I don't think of time. To me, it's structure. I don't know anything about the clock in the sense of how I slice and dice the market. For me, the information that I need is in this. It's in the volume, not in the clock. Now, how long does this take? A minute and a change, or it could be five seconds. It just is a matter of volume. I don't know what's going to happen. Let's go look at the volume. I'm going to take you into a micro structure right here. I want to just show you fractals. I hope you're getting something out of this. We're all clueless, by the way, so don't worry about it. Here, don't forget this is a target. Next target is this. The thing about the beauty of trading is it's all random. Since it's random, we can't predict anything. All you can do is dance with it. I think of this as language since I don't use indicators. For me, I'm just trying to speak market. Market is made up for participant behavior in volume. That's pretty much what you get. Like here, there's volume. Is this too high? Well, if it is, we're going to reject it. No, we go this way. This is now too low. We reject it. Looking good, Lewis. Volume. I wanted to do this. Watch. That's the opposite. Uh-oh. Too high. Right here is volume. Also, let's look at Delta. Right here, buyers are at the moment trapped here. You can see now, in this leg, by the way, and you'll see when I open this up, the Delta. It's kind of a thing where I have to kind of look at it. Now, here it's showing negative Delta, but it's accumulative Delta. So, it hasn't even figured out yet that we're taking out the shorts from the down leg, you see. So, now it's starting to even up. So, this becomes important here if you're using an indicator. And you know, I don't do that. So, I don't spend a lot of energy on it, but let's go take a look. So, target. So, if you had the long, you're taking this because it's a high probability. Next target is going to be this and then that. So, let's go look. So, we come across. We come here. Is this too low? If it is too low, then back here. This is Trader Lab. So, let's just watch. We come back there. We come back down here. Two-sided trade. So, the trade is long to there and then no clue. You get the seller, then the test back here is a potential short. There's the high volume. Too high. Retracement. Now, for me, there's no trade. And the reason is, if I get short in mean reversion, this is the mean. I have to get, how can I get short here and scale here? I can't operate in this, but it's a structured trade, not qualified. So, let's watch. Watch. And where do we come here? Too low. Now, the fact that this is here and we come down here, what are we doing? We're picking the stops off at this leg. That's all you're doing. This is still, now look at the volume. Chop, chop. So, I call this a stop pick. That's swing. This is still good level for me. You'll see it says high volume, node. It's an alignment with this. Now, here's something else. Stop an iceberg detector. Let me show you a little trick of the trade. You know, try to cover a lot of little things here. You come down. You're picking these guys off. Thanks for playing. Your broker said you give basket. Now, you take them out. 99 stops. Did you ever get a gift basket from your broker? It pulls back. There's only four cells. These are cell stops. Stop's an iceberg detector. 99. Four. Huh. If we're going lower, we need more selling under here. Well, if the sellers were primarily cell stops under this swing, then if I get no selling below there and I'm at a location, perhaps, perhaps I'm going to rotate back the other way. Again, there's a problem. What is it? Range. See? Range. That's mean reversion. You're seeing mean reversion. It's rotational trading. The thing with mean reversion is it has to fit. That's the mean. That's the mean. Now, what do we know? Let's come back. Too low. Too low. What do we know up here? Open target. Is it going to do anything? We have no clue. Watch. Where does it come back? Watch. Here. Where does it test? Here. This. This volume, right? There. You guys see it? Now, when it's doing this, no clue. This is the clueless. This is where you can have a real bad day before the day even gets going. That is mean reversion. Do you have a separate plan? Trade or lab, we have a separate plan for this. It's called mean reversion. It's outside in trading. You do not want to trade in from the inside. You want to trade outside. Very hard to do. What's hard to do is not to get involved in this because if this is retail, well, do you want to sell it when it's too high? Do you want to buy it when it's too low? What about this? If you operate in here, what might happen? Well, you sell it here, you get squeezed out. You buy it here, you might get squeezed out. You see what I'm saying? This is called mean reversion. It's called outside in trade. That's what we anticipate. Again, no clue. Let's watch over here. Too high, break, watch, mean reversion trading. Now, this watch, we come outside. We're at an outside edge, mean reversion. I'm going to take you a little further into the crazy world of mean reversion. This is a specific trade plan. If most retail traders get, they'll say, I got chopped up. Now, we all get chopped up. It's not the point. The point is most retail traders don't have a separate plan for the condition. They don't understand that. You can trade this if you vet it and understand the condition of the market, but you only take trades that are in alignment with the condition. Most retail traders just, it's one size fits all, goes up, it goes down. You sell this, you buy that, you sell it. What are you doing? For us in the trader lab, our goal is to attempt to only trade outside in in mean reversion and it has to fit. Let's go look at this. I'm going to show you now micro structure again. When I talk about retail like this, in this structure here is the same thing. You can see the high volume right there. See that little node? That's the same. Think Matrice Gadda, the little one as this, which is going up in timeframe or size. This is developing micro. This is developing day timeframe. This is left over from the ETH and the RTH Friday. This is an intermediate timeframe. This is your attractor. We still got levels here and we got a level up there, so I could do anything. You're trading rotations. This shows the seller. This shows the retail price. This is like going, and I always equate this as shopping and you might find it a little simplistic, but I have to tell you, simple is good. I think we're drawn to complexity so we can outsmart everybody else. Tell ourselves how smart we are. Because it's got a needle as in the haystack, I just got to find it where everybody else has walked in my shoes before me using the same approaches, same indicators, same everything, missed it, but I'm going to find it. Is that you? Just ask them. Too high. Seller. We reject it. A little liquidity, a little order flow, a little kick in the pants. Now what? Mean reversion. Watch. Liquidity in the book. Watch. Where do we come back? Here. Where do we test? Let's come back. Outside edge. Short. If you have range and it's qualified, back to here. I don't know about you. I cannot operate this range, but let me explain something to you. Notice the book. So we could see the structure trades here. Here's what you need to know. If the range from here to here was 20 points, 8 points, 6 points, it's the same trade. The market and the participants don't care about our needs for risk-reward ratio. We care because we have to have an edge. You may not have an edge, but if you can understand the behavior, when it fits a vetted structured trade plan, you might be able to participate. That's a short in a trader lab. Where to? Back here and potentially lower. Now you have to just see. Let's see what it does. Where do we come? Here. Variable high volume note. How am I trading? Outside to here. Down to here, up to there. Back to here, up to here. Or out to here, out to here. Back to here, or back to here, back to here. This is the rotation. This is what we're doing. It'll make it crazy, of course. Where's our target on the upside? This. Remember? 24. This is a short. I posted this in a trader lab as it was triggered. Now let's get back. Let's follow the Yellowbrook Road. This is not easy because you probably haven't thought of it this way. If you have trader lab, this is what we anticipate to participate. What we don't know is what's going to happen? How is it going to happen? If it's going to happen, what's the path? Who knows? That's called randomness and that's how the casinos operate. We're all going, I don't know. Here's what I know. That's what I know. Too high. Is that a coincidence? The answer is yes and no. Yes and no. I'm not paying that. We're out of here. What was too low? This and we have another level down below. Where is it? We have this down below also. It's a possibility. Value area low. What we're doing is we're going, I'm not paying that. That was retail in a higher time frame. We're coming back down to retail in the ETH and the RTH. All we're doing is ping pong. Oh, that's too high. Yeah, but that's too low. Let's see what we do here. And where do we go? Oh, look at that. Next statistic here. All these are available in the Trader Lab if you're interested in them. Now this is called, is everybody tracking? Can you see what is going on? If it's not clear, this is a good time to ask a question. And remember before the market opened, what was our objective? What were we anticipating? Two-sided trade. So this is outside in Trader. And trying to find the outside is like trying to hit yourself with a cast iron frying pan. Is it here? Is it here? So let's talk about why it might not be here. Why? Let me tell you, share why. There's the swing low from the first target from the early, which was a long out to here. Well, what's under here stops. So do I want to get long? Well, if I got long here, I could. And I want to come back to VWOP, mid VWOP and V-POP. If I come out here, let's go take a look now. Let's go take a look. What's this? This is like the Great Wall of China just showed up. This is order flow. Those are buyers in the limit order book. Notice how they all come in. We're coming down to an outside edge. It's called value area low. We have the overnight mid. We have a high level statistic here also has performance, not indicative future results. And you guys know all these statistics are available on the Bookmap Discard Trader Lab chat. And you got to vet them, of course. And proof of all that, make sure it works for you and reverse engineer everything. And in the 60 PDFs, you can download in the Trader Lab. All these trades are called structure trades are available for you to reverse engineer and see if it fits for you because everybody's different. We all operate in different time frames. Everything is different. I don't know if you can hear the music in the background kind of wild. Okay, so value area low statistical probability. No way to know. Watch. Here's the market pulse. Leg is short. This is your delta down here. It's red. Market pulse is showing oversold. I don't use it for my trading. You can only in my opinion, strong recommendation. This is the tail of the dog. This is not that. This is the tail. It doesn't lead the pack. This is the chassis. Everything is built on if you and most of us as retail traders put all our faith in indicators. I'm going to suggest it's backwards. And that's why if you're waking up a Trader Groundhog Day and trying to fix something that might be defective, you'll never know you're trying to fix a defective process because it's random. So it works. That's a dilemma, isn't it? So right here, here's what I'm seeing. Let's do the old classic divergence. Remember divergence 101? You guys know that. We all love our oscillators. Did I ever tell you guys I shared an office with George Lane? He created Stochastics. When I first came across oscillators, I thought, holy grail, it showed up. Thank goodness. And I was right there for it. There's a long story with that, but you get the idea and give me the short version. So since I don't use indicators anymore. So anyway, and that was back in 1982, 81, something like that. I can't remember. Liquidity, divergence, market pulse, short leg, alignment, potential long. Now, if you get long mean reversion, this is where you're trying to go. It's the same trade we've been doing the whole time here, trying to drag the screen. And then where are we trying to go? Target, you see. So there is alignment. So right here, we got our 24. It's too high. You can see, let me show you the volume in micro. Now you notice we had this down here, right? A kick in the pants. What shows up up here? What was too high at our level? 24. Is this too complicated? Yeah. You know why? I just want to lay back, have an indicator spit out a green light or a red light and have an ATM in the basement. That's what I want. Isn't that what we all want? Do you really think it works that way? I'm going to suggest, maybe not, unless it does for you. And then you should come to TraderLab and help us. Let's do it that way because this actually requires thinking, education, screenshots, replays, and developing unconscious competence to speak the market language. So we come back up. This is an outside edge up here. So what happens here? Rotation. Now here's something else that's going on. This is rotating. This is our developing volume point of control. Down here, there's more volume here. And remember, let's put this back in alignment. This now is an outside edge. This is too low. This now is too low. We don't know it at the time. Here's what happens. This drops down. If we're going lower, it's going to check this and push off. It doesn't. It comes here. Watch. It checks this. If we're going down, it has to stay below this. When it comes above this, think of this as support. Think of this as resistance. And resistance and support is resistance to a retail price too high. I'm not paying that. Yeah, but this is too low. I'm not going to pay that. Okay, I'm leaving. Well, what about this? Is this too low or is this too high? It is too low. And I don't know until this. I clear this. Boom, buyer. What does that tell me? Well, now this is too low and this is too low. Let's see what it does. Test too low, long in the trader lab. And there you are. Say LaGarre. Let's see what's above us. Is everybody tracking? Let me check my higher time frame. See what we got. How are we doing in YouTube? Okay, let's look at this. Okay, this is 27. It's an area to observe. And where's our next high volume? It is. I can't get this mouse to work. Come on. Trackball. 49.30. So our areas are 49.27, 49.30. And of course, we could take this out. So we'll see. But the possibility is to still be two-sided. So we will see. And I had another trade here. I think I forgot to mention to you. Maybe I did. I think I did, but I forgot to give it. It's a trader lab structure trade. Let me. Yes. I got to go back. I forgot something. This is the long, right? Well, we have a structure trade in the trader lab and I'm showing you the long and I'm not giving you the name of the trade so you can look it up and look at the 60 PDFs and you can kind of look at it. It's called the IB failure. Now, what this is, the IB is the first hour. It's called the initial balance. And Alessandro fuel is stops on either side of the market. So fuel is think about a consolidation or support resistance or a swing. Whoever on the wrong side of the market is the fuel. So if the market comes down on sell stops under a swing or break out a consolidation, that's what takes the market down. Plus new sellers, you know. And then if we run out of sellers, the shorts in the market have buy stops on the other side of their positions all the way up. And if we reverse those shorts become buyers, that's fuel. Does that make sense? I'm sorry, ESC, I can't open a gold chart. I'm only working in the ES here. And yet you can apply this process to any market that has contracts in it that has volume. And every market exists because of participant behavior. So they all have volume. So I've used this across all asset classes. And, you know, gold or any doesn't matter, you know, dollar, gold, oil, and just NQ doesn't matter. It's all the same. I love trading currencies. I traded them. Currency spreads actually for years. Everything, everything but the kitchen sink. So this is called the IBF or IB failure. So we have alignment down here with an area. This is the first hour low. If we come outside, and this is set at 930 central time. So right here, the IB. So there's the IB low. You see it all the way to the right, that yellow IBL. So that's the first hour of our THL. If we come outside and come back in, it sets up something called mean reversion. This is how it would work. You get the there's two ways to do a couple ways to play this trade. First of all, right here, the IB, you get your buyer. Okay, I got a buyer. I know there's going to be stops over the mid and the VWOP. I get my sellers at the VWOP. I know this is the volume point of control, which is retail. It's a mean reversion setup. Now we know the market is in balance in the higher time frame. Okay. Yeah. And Alessandro, that happens in all fractals or time frames. So it's happening all the time. So the fuel, for example, above here is going to be stops and above here is going to be stops. And on the other side of this, there's stops under here under this swing. Okay. So that's something you got to be aware of. So if I get along, and here's the IBF continuation trade, if you got, so it comes in, this is your volume, we pull back, this is a potential long in the trader lab, your stop would need to be under here, and you're going for this, it comes back outside, it's still along in the trader lab, and you're going for this, it comes back outside, you're coming into the liquidity, you have market pulse, it's still along, and you're going for this, it's all the same. These are all the same long, and the stops are going to be a VWOP above the VWOP. So you're aiming for this. And now this is where it has to, now I already narrated the trade, I just didn't give you the IBF, which is a structured trade. You know, I forgot all about it, because I would trade without the IBF, but I created, the IBF evolved because I was taking this, neither here nor there. Let's just say it's kind of one on top of the other here. So this too high, this is too low, and right here is a bounce. You see how it behaves here? If it resolves to the upside, this is a long here, or an ad, this is where it's too low, down under here. So, you know, your stop could be out under here, too low. And now you're in your long, and let's go see what it's doing. So if you have questions, guys ask questions, I'm going to get into now real time to see what's going on with this thing. Value area high is another target. So it's this, this. So statistically, all these targets have probabilities. And they're available to all of you in the bookmap discord trade lab chat. So it's up to you, you know, if you're interested in this and the 60 PDFs of structured trades, the thing about a structured trade is they're not mechanical. And I think most of us, you know, when we're developing as retail traders think it's a line crosses this or that, and somehow we're supposed to put a trade on. But the thing about it is that unless you know the condition of the market where that probability may give you an edge, you're just gambling. And I know, and believe me on this, when I say Ben, they're done that, you know, I've been doing this almost 44 years and pretty much whatever you've done, I've done, you know, and unfortunately, I've probably done a lot more and spent more time in it with ideas that I believed in that were actually defective. And what I didn't understand early on was that I was thinking I was going to predict something, you know, this crosses this, it's going to do that. It sounds logical, but the thing that was problematic in that is those indicators that are just price based outputs are not aware of the condition of the market, they're just moving with price, you know, the fact that we have a moving average, what does that mean? Well, it's fine. And, you know, all great. If you're in a trending configuration that those those tools may have some value. But if you're in this kind of stuff, you're just going to be getting by the time you get short, you've already missed it, because you're in mean reversion. And then you're getting short with confidence, because all your timeframes are rolling over. But now you're finally at the outside edge and it comes back the other way. Those processes don't work in in mean reversion, you say. So this is a target. Is this too high? Do we have a change in behavior here? There's my seller. Here's my volume. Here's my seller. Am I now going to come back inside? Let's see, it's not a trade recommendation. So if you're in mean reversion, there's a few possibilities. Well, this might be too high in the microstructure. This is your seller. Hmm. This might be too high. Let's test it. I'm not paying that maybe. I don't know. Seller. Let's check it again. Are you sure? I don't like that. Maybe we'll sell it again. Maybe it's too high. I don't know. If it comes back under here, we have the same trade as the long from under here mean reversion. So potentially, and it's not a recommendation, we might come back here or not. That's just the way it works. And nobody knows. So let's watch this one. And guys, this is not a trade calling room. I've got Mack truck tire tracks on my back as well as all of us do. It's overhead and cost of production. There's no secret sauce. You know, there's no holy grail. There's only maybe. Remember gaming theory. How do the casinos extract dollars from the gamblers? They are in a random environment. They only take our play games that have a statistical or vetted edge. This trade may have an edge for you or not. So there's two ways to operate with this. One is you are shorting it here with a very tight stop, you know, within, you know, point, point in a bit, point in the hair. If that, if you have an edge in that using a micrometer, that's fine. Or you wait for it to come back inside here and you sell this outside edge after we resolve this volume right here, which is micro high volume. And then you're trading it back to here. That's what this long was. And if we come back in here under this volume, that's what this short would be. If you get involved up here, it's much more aggressive and you're trying to pick the high. And I could tell you it's not my thing. If I do play here, I'm running a very tight stop. Just saying. So let's see what it does. It looks like it's going to take this volume out. And it is. So we'll see. Nothing to do here now. We got to wait. So if you had gotten involved here, your stop on this trade is here. What is that? You know, six ticks, five ticks. See, I can do that. I'm not saying you should. I'm saying I can't because it doesn't, you know, it's to me, it's like a nibble, you know. And the other part is subject to how you, how you vet your plan, you could just leg into trade. You could put some out here, very tight stop. If you get rolling, you could add, you know, there's many different ways to do this. Or you're subject to your trade plan. This is still possibly a short. We're just trying to probe for an outside edge. And that's part of me, the mean part of mean reversion. Where is it? So we're watching here. Let's see. None of these are trade recommendations. Notice how the liquidity is coming up. That's pressure. There's nothing up here. So it might still move higher. Can't tell. Don't know. Not my job. I can't predict. Got an iceberg showing over here. There's a reasonable shot. We're going to take this guy and we'll just wait. So there's nothing else here at the moment. Markets going up. For me, targeting was exit here, exit here, nothing else to do. Now looking to see if we come back in to mean revert, nothing else. Is that making some sense? Remember, we just got to, can you use the heat map for scalping? I think you, I'm getting a question in you too about scalping. You can do anything you want to do. The answer lies in, do you have a statistical edge with any process you deploy? And is the heat map part of that? One of the things to understand about what the heat map is is it's reflecting liquidity that is resting liquidity in the order book. What you don't know about order flow is like this. This order flow comes in over here. This comes up, they pull. Well, what do you do with that? Where is your priority of inputs? It's not, it's not, gee, there's something here and now we sell it because there's this. Do we buy it because of this? This is coming up. That's pressure. But this is algorithmic. These guys have no intention of trading. They're just, this is like the tide coming in. You'll notice this is up on the other side. But this pulled here, you got dark space. Watch the behavior of the heat map. This is the limit order book. What are they going to do? They may just be in here. For example, this is a selling iceberg. Let's see what he does. Two buy stops are coming out. You got this in the limit book. What do you do with that? Does that mean you sell it? I don't think so. But when things come together, like we had down at the low of the day and even this, you could see the rotation it caused. This pulled here. This didn't trade out. See the behavior, now that has influence. They pulled. Now there's going to, there's more above us. Now let's go back to the low. Let's go back to the liquidity at the, you see this here? How the liquidity have impacted it? Now, yes. But what about this here? It pulled, opens the door. Next layer. Impact, pressure. They pulled. Next layer. So in a vacuum, no. But as a piece, yes. It's about understanding pieces. All of these are pools. But there is no way to know what will happen. Let's watch this behavior now. What is, see now, what happens here? Do they pull? What happened here? Notice I said this iceberg was sitting out here. There is the iceberg. It executed. There's the seller. Now you don't know what it's going to do. What's happening with this liquidity? They're pulling. This is just nonsense. Now what I think, and it's just a personal opinion because it's, there's a lot of variables in this. Why was this here? Was it to create pressure to get this iceberg order filled? And then once this is executed, they pulled and opened the door for it to come down. You see? So, do you see what I'm saying? So you don't know the intent. By the way, now here we are, IB. So now we have possibility. Too high right here, high volume, potential IBF. Remember, we're looking for this to come back here, you know, from where? Right here? Well, not so much. So let's watch. These are not trade recommendations. This is mean reversion, underlining the word mean. So the possibility is the following. We're looking for a short potentially to come back there. The outside edge is here, this high volume, right there. This is a low volume area. So we can come out here or here and then come here. So that's the trade. Now, how do you do this? It's like, yeah, all right. This can be a short here, but your stop has to be here. Because the range is so tight, for me, I want it to come back outside. And if it, and this is my, I'm going here. So let's just see if this unfolds. I don't call trade. You have to vet these. In other words, can you take this trade right here to here? And are you willing to have your stop above here? Or are you going to wait for it to counter rotate up, squeeze this a little bit, come up here, then lean against this volume in this consolidation here, which is outlined by this volume to look for a short to come down here. See what I'm saying? That's part of your trade plan. So let's see what it does. Are you guys tracking? See, the thing about it is, there's not one way to do this. But if you understand the language of the market, you would know where you might engage. So if you're trying to pick the high of the day, you'd be doing it wherever. And there was like a six tick or five tick, whatever risk on it. If this is your area, how do you get into this? You need a retracement. Where is the retracement? It's either here or it's going to be out here. So it's pretty close. And that's where you're going. That's all I can tell you about this trade. This is a structured trade in the trade lab. Where you get in and what's your risk reward? That's up to you. Are you guys tracking? Is this making some sense? By the way, if this is making sense to you or anything, it might not be. But this is auction market theory using a tool called the Volume Profile. I have no indicators. This is bookmaps market pulse. If you understand market mechanics, you might be able to deploy a tool like this in alignment with the construct of the market. And this is your trade. You can see what it's doing. This is called mean reversion. It's a separate plan. If you're in trader lab, you have a specific plan for this. Now the outcome of any interaction with the participants in the market is always random, just like in the casinos. This is a structured trade. Would it help you to know or at least understand how the market works? If so, even if you don't visit trader lab, this is what trader lab is all about. There's 60 PDFs of structured trades you can download and you can reverse engineering and fit them into your process. One of the most important things to understand that I think most retail traders don't understand is that we're in the gaming business, not the prediction business. And I'm speaking for myself because early on, I always thought in part of the problem, at least for me, when I first learned trading and I started to CME in 1980, I learned classical bar charting. And that's measured moves. So you're predicting. It's going to go here. I got a pole. I got a pen in the other guy, head and shoulder. All those things, we all start that way. I think it kind of gives us maybe a process of prediction because we kind of start that way. And then you get into Fibonacci at some point and that's also prediction or pivots and all this stuff that we all pull out of wherever. And it's all about predicting. So we go down a path of prediction. We then overlay indicators who align with our other tools so we can predict. And it becomes a exponential soup of predictive processes that are in a random environment which don't predict but conflict. And it becomes randomness times randomness. But we're all geared towards prediction. And that's because we're wired that way. Mentally, we want to avoid the pain of loss. Hey, Rod, how are you? Rod is in the Trader Lab and Rod contributes a lot to Trader Lab with statistics and research. And so you guys understand if you're in YouTube and you haven't visited Trader Lab, the Trader Lab is a community of like-minded traders and we're looking to leverage our collective experience because trading is a business that unless you've done it, you can't even talk to anybody about this. But the thing about it is when you're in a community of traders and our senior trader is 54 years experience, I'm going on 44 years both professionally and also as a retail trader now. You kind of learn a few things along the way. But the thing that most of us don't understand is retail traders is everybody does the same thing. And if everybody's doing the same thing and the failure rate is astronomical for retail traders, and I'm not going to give you a statistic because it's probably going to be too low, whatever I tell you, then there might be a reason you might want to take pause and think about it and reflect. What I found for me, the biggest aha moment was accepting that I can't predict anything and instead seeing this as a business of probabilities and not prediction. When I understood that it was like a casino operates in a random environment, everything's random when they deal the cards and the way the gamblers play the cards and the games, but the games in the casinos that they play have a statistical vetted edge. In other words, they know over a random sample size that over time dollars are going to be extracted from the gamblers over the table to the house. If the dealer deals the cards and somebody walks out with a suitcase of cash, they don't have a new game. They don't go and fix the game because the game's not broke. But what do we do? We change the games continually because we're chasing randomness and we don't want randomness. We want predictability. It's logical because of our wiring and human nature to avoid risk and pain and the saber tooth tiger, by the way. But we are running into the burning building yet it's counterintuitive. So we're going to try to make sure we don't get burned. Well, instead of looking at it as getting burned or needing to be right or predicting the trade that will win and all that stuff, how about accepting we can't predict anything except that we know if we play the game consistently with anchored inputs that we have an opportunity to extract dollars from the gamblers. That's the difference. And the other part of it is that the casinos accept losses to the gamblers is overhead and cost of production. That's called running a business. Have any of you guys ever thought that trading is a business? Please give a thumb up in YouTube if you're getting something out of this. I hope it's resonating with you. And I also, I'm not sure what I'm seeing here. I'm reading something in the Trader Lab and it's just, I don't know what's going on in there. They get frisky sometimes. If you're getting something out of this, please give a thumb up in YouTube. It's important so I can continue doing this stream. Trader Lab will only exist if it's helping other traders. It will not continue if it's not helping traders and the community is not bringing value. And there's other, by the way, there's other streamers available in the Bookmap Discord Trader Lab chat. Stocks, options, crypto, crypto. You like crypto? Order flow with a high peer pool like bookmap, algorithmic behavior, options, swing trading, individual stocks, you know, the mighty seven, were they kind of magnificent seven? I'm not so sure, but how magnificent they are, but you know what I'm saying. Market maker behavior, hedging, options, swings, everything, you think about it, it's there, Al goes a lot. And it's all free. And I think free is good. And if you're interested in Trader Lab, I invite you to come by, say hi, drop in and add your voice to Trader Lab. Bring your experience. We have all walked in your shoes. The thing that differentiates Trader Lab participants from everyone else I think is they are taking the experience. And they also recognize what Trader Groundhog Day is. Trader Groundhog Day is working hard and waking up in the same place because you're trying to fix potentially a defective process. That's where my aha went off because I built trading systems and I learned a lot of things from that experience. And when I say built trust systems, I'm talking about years. So conditional statements, so if this, then that, in other words, narratives, then what? Then what was branch logic, which would take you down a path of structured trades and triggers and the rest of it, you know, and whatever. And I tried to automate trading because when I was managing money, it was across a lot of asset classes. So it was a real pain in the, you know, ruler to do that. So I tried to build systems and early on I worked with was the predecessor to something that became Trade Station. So before Trade Station existed, I was working with the boys out of Omega Research out of Miami. So that's all in the primer webinar, which gives you a high level overview. It's one hour and you're all welcome to it. It's in the Bookmap Discord Trader Lab Chat. Not only the PDFs, but a library of webinars, some of the four hours of real time narration of this. So, you know, I don't, I have only limited time. And I think when I think about what is the best thing I can do, what can I do to spend my time with you guys who visit here? Time is precious for all of us. Where can I bring you something that's different other than some talking head, talking about the latest hot this that or the other thing or boasting how they made a bazillion dollars and eight minutes with the one little indicator. Please let's get real. You've been in this business. I think the word I said was snake oil has been available since they discovered snakes. So you've probably been there and done that too. We are all looking for the Holy Grail. And do you know where the Holy Grail is? It's sitting right between your ears. You already have it. You just haven't put the pieces together. It's like a big puzzle. You open that box, you shake all the pieces out and you go, oh my God, how am I going to put this thing together? Right? And we were looking for plug and play plug. Please make it easier. Please make it easier. Well, no, but it doesn't have to be complicated. It is process oriented. You can learn this. It's no different than learning to read music, you know, or a foreign language. And you know, it's hard to speak a foreign language, isn't it? But how do you get to learn a foreign language intentional practice, breaking it down into pieces? You know, this is microstructure. That so is this. I have no problem with a short here and a stop there. You might. Okay. Where's the structure trade? It's here. See? Well, for me, I'm okay with this. I'm okay with a short here, but my stop has to be there. Are you okay with it? I'm okay with a short here. My stop has to be there, then there. To here, mean reversion to structured trade in the trader lab. Now, what do you do with this? Here's what you do with it. If you got short here, you're scaled here, you're sitting there and your feet are up and you're going, what's going to happen? If you ask me, I'm going to say, I don't know. How do you like that? What's the right answer? I don't know. So let's watch the behavior. Where's the stops out here? What are retail traders do? They keep their stops out here. If I come back to this microstructure, this volume, let's look, it's all right here in front of us. This is the volume here. You can see it there. I can come out here, take the stops above here, come into this liquidity. If I see a reversal, it's a potential short again back to here. If I only come out here against this volume, you just want to read it right in here and I see a selling structure, it might bring me back to here. My risk is over here. Here's the other side of that wonderful story. Where did these sellers have their stops? There, there, there, there. Where is the better spot for your stop? Here. Where's the next place? Here. If I get above here and I get into this volume, which is this and it's too high, remember the shopping experience, I can come and mean revert again. So at the moment, we are still in mean reversion until it changes. Are you guys tracking? Please give a thumb up in YouTube, by the way, very important so the stream can continue. And again, what is it? Maybe. By the way, a little market pulse judge for you guys who are into the pulseteria. Leg is short, market pulse. It's not along. What is it? It's, oh, maybe we're going to counter rotate. That's what it is. I don't use it for trading, but you could. If you understand everything else than this, if you want to use this in a vacuum, not so much. Just my opinion. And where did we come? Where did we come? Huh. Where did we come? Huh. Volume. What showed up here? This. So right here, we're going to watch, not a trade recommendation, alignment. You got to be careful here. This is like stepping on a banana peel. This guy could come in. You get the reaction. You get the sellers he pulls, then they're going to hit you with the carp in the face. Cold carp, by the way. So this is what we know. Too high. Too high. That's what I know. That's all I know. Too high. I can lean on this. My stop is here. I get taken out. I can lean on that. Do I get taken out? Of course. Overhead and cost of production. Is this too high? There's my seller. There's my test. Is that too high? If I get short here, my stop is here. They take me out. Thanks for playing. And they give you a cocktail and a coupon to the buffet. This is mean reversion. Is everybody tracking hope? You're getting something out of this. If you are, please give a thumb up. Visit the Bookmap Discord Trader Lab chat. There's a link in the bottom of YouTube. Please hit the thumb up on the way out. There's a library or 60 PDFs you can download in the Bookmap Discord Trader Lab chat of Structured Trades that you can reverse engineer. Also a library of webinars. Start with the primer webinar. It's about an hour long. Gives you a high-level overview of this process, plus screenshots, circles, arrows, and the rest of it. So you can abuse yourself and enjoy because it's a great community. And this is what these structured trades look like. It's just, and I'm not a vendor. There's no course. You don't have to be a Bookmap subscriber. You'll never be solicited. Now, ever, never. And the rest of the material, all the other streaming and education, order flow with a high tier tool like Bookmap and crypto, swing trading, option hedging, market maker behavior, and all of that is available to all of you. It's absolutely free. Please give the thumb up. I apologize for asking you to do it, but it's important so the stream can continue and the Trader Lab continues. Hope you had a good day. Hope you got something from this. Remember, if you don't have a statistical or vetted edge, you are a gambler. I think it might be better to sit on the house side of the table. It's up to each of us to choose which side of the financial equation we want to be on. I don't know about you, but for me, I think I want to sit with the house. Thanks again, guys. Look forward to seeing you soon, trade safe, and by all means, visit the Trader Lab. Take advantage of Bookmap, Server, and all the free education. I look forward to seeing you soon. And thanks again. Appreciate your time, support, and interest.