 Good morning traders and welcome to the ProTrader webinar series for Thursday at 10 a.m Today we have Scott Pulsini a futures trader He actually trades every week with us in the advanced education webinars That you get as a global plus subscriber. Okay, so We had Jay trader on Monday, but he's usually usually on Wednesday Just to give you guys a feel for our education when you subscribe to to global plus These are daily every weekday. So it goes for about an hour We three days a week. It's all forward-looking education Three days a week. We read the live market and give insight to where price is going to go and then two days a week We have Scott and Jay trader trading live So it's a complete education that you guys get and today you're going to get a taste of what Scott does Every every Thursday, right? So that's going to be the ProTrader one hour for this morning. Good morning, everybody You guys can see the screen and hear me correctly Yes, okay. Thank you. All right. So let's get into some of the The introduction here and then just turn it right over to Scott if you guys haven't heard about Scott Let me read through this haven't done in a while Scott's been trading for over 20 years during the years of 2002 to 2005 Scott was responsible for trading about 10% of the S&P E-mini futures volume Pretty incredible stat there. I can't even imagine the like the nerves at Scott must have you know, you could be a soldier a fighter pilot a bomb diffuser Or an E-mini trader trading that kind of volume. I think it's all kind of in the same realm Anyway, now Scott focuses on trading both equities and futures He's an expert scalper and has innate ability to quickly read the order flow and volume within the price patterns Contact information is all here his website his email his Twitter handle his trading room We trade desk calm and an educational course that he offers It's on the bookmap marketplace And and there's also a special link here I will put into the chat for you guys as well So I'm going to put all of this into the chat. You don't have to copy this down You it'll it'll link right right from the chat so you can just click on it So need to go through some disclosures and let's turn it right over to Scott General disclosure all bookmap limited materials information and presentations are for educational purposes only and should not be considered specific investment Advice nor recommendations live trading is in simulation demo paper trading mode and strictly for educational purposes Live trading executed in simulation cannot accurately represent realistic trading performance Risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors An investor could potentially lose all or more than the initial investment risk capital's money That can be lost without jeopardizing one's financial security nor lifestyle Only risk capital should be used for trading and only those with sufficient risk capital should consider trading past performances Not necessarily indicative of future results alright Nicholas if you can everyone else can see the screen correct if not Nick Nicholas So you log out and log back in would probably be the way to go Alright, can can everyone see the screen here? No, okay. Let me let me let me try it again. Oh boy Okay, so sorry about logging out logging back in Anyway, so yeah just going through this here with Scott the First slide his bio here and then all his contact information and then we went through the disclosures right here. Okay, so Anyway, that's it. And sorry about that. Let me turn it right over to Scott and let him take it away And you guys hear me Bruce? Yes Seeing the normal control panel There we go All right, let's do this first Yeah, I see you're uh You're looking at the you're looking at gold Correct. Okay. I'll share my webcam So you can see my awesome screens All right, so Things are getting real interesting here right when we're getting on of course There's like 15. Thank you ice firing off right now. Um, I just got short gold literally a minute before we got on here So quickly in a vacuum, I'm just going to show you this stuff first and I'll show you why I was already leaning short for gold Yeah, they um See this big buy icebergs here. I highlighted that with my um, so this is one of my five setups I have a course out there for you newer listeners um watchers that Really highlights this si indicator stop iceberg indicator, which is the most powerful thing I've ever seen in futures trading Which shows you where the big money's playing where the dumb money's playing and you Uh, I have five distinct setups that I trade off of solely exclusively Um in important areas that I deem important So we'll get into that here in a second, but this fired off this iceberg. Um, so Basically paper was trying to stop the move down right here And it had broken through And let me show you here One of my one of the best setups here is when a market Through the zone retests then fails so you can see it's exactly where I got in we broke down through the zone We retested here as soon as I started seeing the red bubbles come in meaning the market selling I got in right here And now now I'm in the trade. I just covered uh, I put four on I covered a quarter Down here. You can see where I covered it. Um, I'll show you that reason here in a second Equities quickly or in a crucial area where they just tell Um, we'll draw this on actually right now. This was threshold for yes So again in my course I get thresholds for all the different futures markets Depending on which one you trade you will know which icebergs are meaningful, which ones are not which stoppers are meaningful, which ones are not so um This was almost 800. Actually, I saw you'd under here at the peak somewhere 811 Um sell iceberg here that looks like broken ice right now, right so Um meaning papers stepped up. You can see all this buying here And they were trying to hold it down with their hidden iceberg orders and it just pierced right back through it So this is kind of the opposite setup. I just took them with gold if I would have taken this one So we're going to draw this zone I want to color code it because it's it'll be easier once we start drawing stuff to know which ones which if we have some Doing here. We have like stop phones and stuff. So Uh, again, this is pretty archaic. I've been on book map to fix this But they've got bigger things on their plate right now So I'm not complaining about a drawing tool when I have all the other awesome sauce So I will bite through doing this It's it's on the list It's been bumped up the list. I should say why I only complain every single time so but again I will fight through that for all the awesomeness that I get from book map I will put up with the drawing tools right now and few stops so now we're We're trying to pierce back through this. So this is more of it. This might be a delay broken ice. You can see a spot gamma spot gamma level here not broken ice But I uh titanic setup and try to poke out This is crucial area with the spot gamma. We'll get in all this stuff too. I know No, listeners are probably like, what are you talking about? I want to see if this holds which it looks like it's going to if this breaks below I will wait for a retest fail just because you have to be more conservative Shorts and equities because they never go down and when they do go down they bungee jump the bottom every single time every Time as you see right here. It just it's just you can set your watch to it Um and cute. What's the ice? See everything's firing off here at one time nice of them the way till the webinar started um So my thresholds and that and azdec usually around 120 lately It's been higher just because I've been seeing bigger volume come through here. So you can see here. This one was 161 177 this one was one almost 150 So I'd say 150 is a good threshold for the icebergs today stop run so far. We've had 130 stop run here and then 145 stop run here. So I would say over close to 150 is probably the threshold for volt today that is reliable Again, we'll try to get into this stuff or I know there's newer Peeps on here that We have no idea what I'm talking about but we're gonna know it's just stuff's firing off here pretty quick um So let's see here. It's trying to I didn't get a chance. I was I had my gold trade on actually Let me take a look at gold real quick just to see what we're at So anyway, this is a very important zone right now if you are bullish This is not you know, you would go long on the break of this on the upside your stop goes below here And you can carry it up. I'm not bullish right here. I'm not either way right now I want to see what happens at this huge scut spot gamma level. It's 3,900 is a very big level It's also a big level on the charts. I'm going to show you and we're facing a basically a failed breakout to the upside this morning um, let's show you here quickly Right, so we broke above this overnight balance and get this stuff off here We had overnight balance here. We tried to break out Trying to hold the top of it now and then right through the IV node, which is the For the most trade occurred in the balance area. That is negative, right? So On the bigger picture It was very bearish the other day I caught this down move When we broke down from this we talked about it. I'm in the wheat trade desk room I do a thumb in the three days a week as well doing live training like I'm doing here We talked about this there where we broke down below this balance area We retested the bottom then we fail we get lower. This is this huge move down When we retested this value where you do not want to serve this balance area. You do not want to see it um In most cases Violate if this is going to remain bearish at the time like yesterday I wanted to see it hold this zone which was confluent with the IV node of this balance area, right? That's the last stand for bears Usually we got above there So I was thinking okay as soon as we move a little higher we we built balance at the end of day yesterday Right this little balance area here And I was expecting that now the exact opposite happening We're back below the high volume node of this this balance area. There's really nothing structure-wise until we get down here So Again, it's still a little sketchy on which way we're going to go. I will if we break this 3,900 level I will be leaning short just because they had the chance to push this higher and it's now failed This balance area has failed There's not a lot of structure down until this little guy here And again the bigger balance area that we broke down from is pretty much holding right so I couldn't see this thing turning around too. So we're going to keep a close eye on it Again, you can see it's struggling here This is a very important area and that's why it's kind of bouncing back and forth Again won't surprise me in the least to see this thing go like this because that's what it always does But if we do break this down, you're going to see stop runs. You're going to see Icebergs and so on and so forth because this is a very important spot gamma level I'll talk about that in a couple seconds. I have no affiliation with them except for using their stuff, which is incredible It's basically dealers that are These are just showing you where the highest concentration of options on the spx the cash index Which obviously the futures are derived from and it's showing you where the options dealers have to hedge their positions Right, so that's very important because you know, they're going to be you know, they're going to be In the market in these areas Tedging their position. So it's not a guess. This is not like a support level Guessing that the options dealers are going to be buying yards It's it's a guarantee right because they have to edit their positions and the bigger the bigger the area Based on these you can see here if I bring this down more So these are all the real important areas So if you don't have spot gamma and you try an es you're doing yourself a disservice You're really doing yourself a disservice if you're not using book map and the si indicator, but this is Very important. These are very important levels here So for instance, we break here the next move is probably down to zero gamma if we get below zero gamma Then we're going on Again, you can do this one side stick a quick a quick note on that like uh, so uh, Brent kashua from spot gamma presented on Tuesday and he's going to present tomorrow Uh at 10 a.m. So uh, there guys you can go to the youtube channel Our youtube channel at book map and uh, you can see his recording from tuesday. So if you want to kind of Find out more all about that Right it gets very very technical. Um, I use it in the most basic sense and that's how I like to trade I keep it They call it kiss keep it simple stupid, right? I've always traded like that because then I don't confuse myself I don't have 50 different indicators on my chart, which I either recommend you don't either You keep it simple and it helps clear your mind And you don't have conflicting views on on market action and can't afraid to pull the trigger because one thing's telling you long Another thing's telling you short So as far as the spot gamma levels we have them for nq and russell as well You can see here. So the volatility trigger once we get below that and you can see that's where it held on this is a big level where Meaning it's triggering triggering volatility based on this option stuff again. You go to switch segred all about it It's very technical. Uh, it's really cool, but it gets very technical The the the point is we're below this support Wasn't is now resistance just like anything else in trading, right? If once you break it it was support till it wasn't now it's resistance, right? So unless we can get back above here meaningfully and hold I'm going to be looking short and nasty as well same reasons Short turn two. You can see we built a balance area overnight We have one here And she had one here too. We broke down from but this is basically one big one We tried to break out no dice should have held high volume know this one right through it And now we're struggling. I foresee that it's going to be my call. That's my thesis for the day So the way I trade and why again everything I do I'd recommend you guys do the same That's why you're on these webinars to learn from my 20 Plus years of experience and getting my head handed to me at certain times, right? That there's no reason for you guys to go through the pain learn from my mistakes and you know apply them to your trading your playbooks and your Soy Venus and your thesis stuff so I was just going to show you this So this quickly this looks much more bearish than es remember we were looking at es Yes, we had the balance and we were up here and it broke through the high volume node And I thought we did this this is this never even got close to this balance area that we broke down from right So that nasaq looks a lot more bearish So I'm way more inclined to put a short on the nasaq right now than es So this is very important too. So we know we're under the ball trigger, which is bearish in itself, right? and then on this This balance area from tuesday is very important, right? So we broke down we gap down we broke down we went all the way down here It's confluent other stuff over here. I'll show you but Now we're returning to what the top of the balance, right? That's the first stand for bowls if they Bulls If bulls want to hold this this is an area what would happen The last stand for bulls would be the high volume node of this balance area if we get through that then It's going much lower in in my opinion in my experience. I should say But we're holding right now. So again I don't and this is another this is what I was going to have before you as a trader you want to You know, you want to try to pick a direction for the day based on what you know about trading And stay With that thesis, you know until proven otherwise, right? So meaning don't try to catch every move both ways It's just it's almost impossible, especially with the algos in here which song you did death, right? If you're a click trader Your best odds of success is coming up with the thesis kind of like I just outlined for you guys in the equities And then looking for setups in that direction setups with the si indicator or else you look at you can be looking at You know, you're moving averages, whatever but The biggest fallacy of traders is the the FOMO the fear of missing out right trying to catch every move back and forth And it's just it's not going to happen. So just do yourself a favor Pick a direction and you like an area that shouldn't be violated if your thesis is correct Then if the area is violated, then you can start looking the other way But what I'm saying is don't be trying to catch moves both ways because it's unless you're algal unless you're a computer or can write programs It's It's going to be virtually impossible for you in my experience Our gold's coming back to that zone. This is what gold does if you missed Um, if you missed that first short, you know, if you're again, I don't I don't recommend you mirror my trading That the idea of these webinars is not to mirror me trading is to learn to trade these setups for yourself, right? So but if you are many times, this this is what gold does, right? It brings down It'll retest if it fails again, then you can take the short ears Goes in the same spot. What I'm going to do is I'm going to add just that quarter I got out of before which was a perfect area that I got out of I'm now I'm going to add that in and I know you see my four of us stop up here, right? So Again, the first time this thing broke quickly it broke down briefly retested right here And then went That's where I got short. Actually. I'm sorry. That was over here. My bad. That's the wrong zone Hold on a second here. Sorry about that this zone here Broke down retested. I got short there now. We came all the way back here You can see right back to the bottom of the zone. It's not a coincidence that it's holding, right? This was that huge that wasn't huge, but it was a big iceberg that got smoked. They lost came back here Now reject. So that's why I added stop goes right here. This other zone is from earlier I got I should delete that just because it was a stop and hold That actually are dumb and dumb or I shall just show you this here real quick So this is why this area is very important and we'll even get into this stuff too This is the new indicator that they there's a beta out Look at Bruce if it slows down I'll have Bruce explain some of this stuff because I need help with the two because I just put it on my On my book map, but earlier you can see here. This is this yellow zone here This little zone here. You see this big stop run Let's uh Almost 300 contracts. So usually we call this uh, it's called a dumb and dumber So usually stop runs are the dumb money the retail trader don't be offended I'm a retail trader too. The point is we are not as informed as the big money, right? So that's why I call it the dumb and dumber. Usually stop runs are when they don't hold They immediately reject and you can see the zone there. That was this if it immediately rejected go on right There was no real selling behind this move. It was just a retail trader puke You don't want to be a part of that if it doesn't Hold it and then keep going lower and at the time it didn't right and we moved up So if you were looking along you could have caught a nice long there. This was you know 50 60 points straight up Ran into some icebergs up here and we'll get into this a few ice a bit And you can see it held when it came back again Kind of like the retest fail like we're talking about right now with icebergs came back at held went back higher went higher And then when we came back down here, that's when this um new iceberg fired off. That's why I turned This is That was this right broke down now. We retested now. We're failing again, right? So again, I apologize for newer newer peeps that are watching this. It's that's I'm throwing a lot at you, but Just trying to show you these setups. Um So I wouldn't wouldn't worry about it. I mean, we'll get to the questions, but I mean, this is what scott does every thursday And um, just keep keep going with it scott okay, um So the people that you know have the course and have been watching these webinars They know it was echoed i'm talking about so again the more webinars you watch the more you'll get from it Again, the idea here is to teach you guys how to trade for yourself to be self-sufficient You know so you can eventually become a professional trader and work for yourself and never have to work for the man again That's that's that's the goal in trading, right? There's nothing better than working for yourself not having to answer to anybody But yourself and the markets All right, so you can see here. We're having a hard time in nasdaq holding above this important level So now based on everything I just showed you the only thing we didn't look at is the The other stuff that I look at is taz This is actually gold. We'll get into this stuff too. Um on what I saw there But in the nq Another reason why i'm leaning short here is So taz boxes are basically mini market profiles and once I concentrate on on 30 mini and 60 Again taz is part of the we trade desk. I'm affiliated with that I if you go to my website, you get me. We'll get discount scottville senior trader dot com Click on the banner you will just we can get discounts for the taz indicators that I use But this is this stuff here that i'm showing you right so these are mini market profiles You can see values moving down. This is one all this is this these are this is the resistance point of control support Right, so when markets start breaking down out of The longer term I like that's a great short, right? So you're breaking down out of the 30 we built a new one here a smaller one Breaking down out of the 60 values moving lower values moving lower Then on the regular market profile, which most people are familiar with Again taz is just mini market profiles. So this is the daily The blue are just days that are merged that I draw a composite profile. They call it, right? Let me get a new color here So this is telling right so this is this composite from back here I kept it up Usually when you trade through it a bunch of times you can delete it, but this one is still showing effective like here It held the low here. So yesterday this was yesterday's close here So I would have expected this this closed inside this value area. It should have held and gone higher What happened is we touched yesterday's Again, this is just like a test box, right resistance point of control support We touched a high yesterday Now we're getting below the composite and we're here right now When you get this the tendency is usually to travel the up to the next composite That was way back here But you can see it's still relevant and that's going to be confluent with the point of control from the day before This was Tuesday's trade. Here's the high point of control low So the tendency when we break out of composites is to go to the next one So I'm looking at this as the main My main target if I do get short this is all pre You know, I look at all the stuff free market So I know when the stuff starts firing off in the elevator, I know which way I want to trade And I know where my targets are and you can see there that that market profile level is also confluent with This is task market map. It shows you where the most volume Traded in this picture here And that is exactly confluent most you see where the volume came all the way out That's the most volume could flow with 13 000. So if we do start to really rip down Everything combined I showed you the bar charts how we had the fail breakout I showed you were below the spot gamma level if I start getting serious signals now Am I as I indicator one of my five setups? Then I'm going to go short in my first and you can see here's another spot gamma level not coincidental This is going to be my first target that I'm looking for You know, if I get short and that's 150 points away. So that will be a very nice trade if I this Materializes like I think it will Goal This is exactly what I was talking about. You see these patterns over and over and over and over these These levels based on the si indicator you can see came up exactly touch the bottom that failed. We just added there boom, this is you know, we're 60 plus ticks in my favor So now I want to watch all this reacts, right? I gotta hear the first time. Why did I get out the first time? Because this is an important level And mark a profile So the first time I came down there before I don't think we were on I can't remember now if I was talking about that but What we just talked about here, right? So this was a composite This is another huge composite. We'll get into that Now we're testing the bottom of this one and the top of this one if this fails again I will get out of another quarter if we rip down through here I will add to my trade and the Tennessee is the lower the other side This composite is all the way from last June You can see there, right? This is June. This was a multi-day composite and it's still important The last time and I actually posted you guys can follow me on twitter as well This day. This is actually built. This is multiple days, but we caught this long. I posted it on twitter This was last thursday. We tried to accept in this composite right here was like like 2000 icebergs I can't remember the exact number and it was the perfect spot and we broke out of here I knew it was go time and then we rallied all the way up here, right? So Using important areas in your trading and again, you don't have to do exactly what I'm doing, but even if you like Hold on a second Even if you use a 200-day moving average and moving averages or Fibonacci it doesn't matter when you add that stuff into With real-time volume that makes you a lethal trader, right? You are more informed than 90 90 percent of the traders Let's see what he has. So don't hear these are very very important levels. You can see it's about to bust through this ice here from earlier So even if you took that trade This is freezing up on me any second here Even if you took this long it's still this still is worth the 10 points, right? Now we're breaking below You can see the ice is coming in again So paper is trying to defend this area and if it moves a little lower, they're going to get smoked And that's what I want to see Now anti paper I used to be the big I used to be paper the big trader now in the retail guys So now I'm always loving it when they get crushed And that's what's happening right here, right? So you see this they're fighting they're still fighting right here But I mean what I'm saying is if this moves lower It's going to get ugly So let's draw this zone You can see now we're at almost a thousand icebergs here hidden orders, right? You can see this heavy market selling We'll get into this this shows you some of the exact areas where the icebergs were executed The most so my thresholds for I don't even get in the shed Let me I want to confuse people more than already confused. Let's draw this zone first and then we'll get into the new indicator Hopefully this will slow down, but I don't think it's going to so you can see this started Let's see threshold started right around here. This is going to get a little confusing too because I'm going to have the same color all the way down to That covered about right there, right? So what I'm going to do here is I'm just going to make this one big iceberg area So people aren't confused So I'm going to erase this one and this one And now we're going to use this entire area. Yeah, this is a big area I mean it's actually it's only six points, but it's incorporating what two different icebergs You can see here Right. Yeah dig cell ice earlier right here 800 that was that's only just This is the top of that and then now you have this big iceberg here So this is this is all that all this combined this zone is hugely important, right? It's hugely a word. I'm not sure So we want to see what what I want to see now first of all, we're below this That's a big spot game level if you read his commentary I'll just show you this here quickly. This is what you get with you get the levels with spot gamma and then you also get the He has awesome commentary. He's on the spot on every day with the with the range and everything so you can see here Um, he says the 3,900 level is still really important. Let's see Here we go Well, he says a close, but again, it's still a big level, right quick retest of 3,800 So you can again you can read this stuff on the site Um, but it's incredible how accurate he is calling the range for the day calling like yesterday on tuesday. He said if we break 30 38 39 50 it was going to be a straight shot to 3,900 and it was literally a straight shot to 3,900 It was like it was a free fall. Whoever traded that day was trying to get long learning that the hard way But if you knew the spot gamma stuff, you probably would have stayed out of the way. That's the whole point And anyway, what I want to see now is I want to see this break So you can trade this one of two ways, right when this area breaks you can be aggressive and get in immediately Or you can wait for what what we've just been talking about in gold Breakdown retest Failure then you get in again there and the stuff goes up there, right? That's the conservative entry the problem with this Pattern is sometimes you don't get that return, right? Especially if it's a very important level it may just free fall straight down Um, usually inequities you can be more conservative trying to sell because the thing is just constantly bit constantly bit All it is is ice by iceberg trying to hold it up So if this does break what i'm going to do because this is still in a kind of a hairy area where i'm not completely convicted on the short side I will wait for a break a material break. I want to see at least four or five points below I want to see a retest then I want to see sellers come back in and sell and sell off Why does that why does that pattern occur? Well, think about it in common sense terms, right? Think about it if you're this big say this is one big trader, right? And the reason my five setups that my course is based off is based off the not hypothetical setups It's based off how I used to trade as a large trader how I used to see big other big traders trade Right and how they were to react in certain areas So pretend you're this big trader, right and you take all this selling you absorb all the sun you're the iceberg This thing breaks. This was me. I was like literally holding my breath praying Literally praying to god some days when it would do this. I'd say just please come back just come back to my area I will just scratch a trade. I promise. I won't be greedy. I just let it come back So that's exactly what happens most time when papers wrong They have the ability to even push it back. They'll start to buy down here, right? They'll start to buy buy buy and it'll start a little cascading effect It'll move right into their orders So they'll place their sellers back that they just will long on They'll put them in here and when it comes back in here, they'll start to get out Here we go. We're starting to break and then they'll start to get out of the trade, which S&P ice, which moves the market lower. So this is it, right? Here we go. Look at the ice is fearless Now look at this iceberg 2,000 icebergs. This is the most we've ever had on this Second most I've ever seen It's the most we've ever had on the webcast. I can tell you that So hopefully this thing doesn't freeze on me. Rhythmic doesn't keep up a lot of times so again This trumps the other one, right? So this is this is another important area. This is even this is again hugely That award and he ice we're going to draw this one in that stuff there It's still coming in You can see how paper is just you know, they look 20. This is huge 2400 I'm telling you guys, whatever way this way break this thing breaks. We're going to get a of serious move So this is kind of cool that it's happened with you guys. You can see it started dissipate here So I'm just waiting for this to finish to see where I'm going to draw the bottom of the zone Then it's going to this is going to get very interesting on this webcast There you go So you can see it dissipated down to four only 400 considering my threshold 700 This is you know, three times more than three times normal Let's see what happens here. This is going to be very very interesting now So you see now this entire area It's just all icebergs most of the buying right? So this is a 10-point area now again if you're going to trade it, you don't have to risk So say you do get short you don't have to risk up to here You want to risk the top of this one which was right around right around here right around 3892 Again, this is going to get very interesting. I'm going to be aggressive here If this right now just because I know these guys are In some serious trouble, right? So my stop is going to go right above here if I get stopped out I will which is a very high occurrence trying to be sure at these markets, but I will reenter that's part of my trade plan part of my playbook So again, this is the exact scenario what we're talking about paper does not go down without a fight They just they're invested 2400 icebergs They will get it back to this area to possibly start to cover in them covering their lungs Causes the next move down right? That's the pattern And that's what's happening right here. We're already in so but if you missed that one Again, this was a fourth number. I said four or five points away retested. I didn't quite get up there I wouldn't be surprised to see try one more time again paper does not like this What do you think this is buying? It's probably these guys Getting it back here so they can get out of there long. They're like, oh crap. We were wrong in that area Now let's peel out and that causes the next wave down. So we'll see SNP ice again I'm not holding my breath on the short because it's so hard to short this market But there's so many things in my favor now that I'm willing to Give this a shot and if I get stopped out I will try it one more time, right? So if I do that if it stops me and it comes down again I'll short it one more time all right, so the one I really wanted to short was nasdaq and I'm sure I missed the all the uh So you can see here. These are these are big icebergs too everything. Oh, it's all this The house is the papers trying to hold this thing up If they are wrong is going to get ugly in a hurry So you see here 200 icebergs. That's all this selling right into hidden orders, right? Let's draw this on here quickly That started right around here. You can see where it starts to spike, right? You go up to those bubbles Right that incorporated this whole move down and it stopped right above Well, that was the law that move was over here. So that's the zone Hopefully the market holds waits for me to draw my Draw my zones and color them for you That'd be very nice of the market to do that to do this So you guys can see how I draw the zones too. So um In my course, I use the I was using the exponential because they didn't have this uh I'll show you in a second So you can see here when you go to the iceberg again, I appreciate the market waiting for me to show you guys this Um, you can use all these different some just showed you for the day. That does not help me as a short-term trader Um exponential reset. Um, you can set it to reset. There's I think there's still some bugs in there So you want to use sliding again? You can read all about this on the book map wiki page I was using exponential in my course I switched to sliding because sliding just helps you define the areas a little better Like this where you get the spike and then done and then you can draw your zone Right, so this is a big zone for nasdaq where I should have been short was up there Near that ball trader that we were talking about I should be concentrating more short on this market because like I said, it looks way more bearish than es But it is what it is But what I will do here is I want to see this thing move away Again the same pattern all the time, right? I want to see it move away like it is I'd like to see a little further But then I want to see a retest then a fail then I will go short nasdaq as well All based on the same premise Right, you know, it's all based on my experience as a large trader and how I used to respond when I would have three con Three thousand contracts on That's how I would respond, right? So I know how what paper does because again, they have to if they're wrong They have to cover their trades and again, and then I'll get emails like well, you don't know what this one before I get into that These guys are not going to go down without a fight. So you can expect if you are short, you're going to see You know boom boom boom boom boom until they finally have to give it up So hopefully I don't get stopped here. It's not going to surprise me at all like you're about to see it's probably going to be right to the tick Let's see. That's my mo. That's my curse. There you go right to the tick. Let's let's see what happens here and you ice So again, I'm not surprised at all that this is happening, right? So the My my rule is now I'm going to re-enter this trading Again, so many times they will do this. They get this to their area, right? They took their stand they moved against them Came back started to move against again. They push it back Now they're probably a lot of these this iceberg is probably starting to cover here. So this moves back out of this zone I'm going to reshort it stuff goes in the exact same spot. I get stopped out again Then I'm done shorting this for this area right now um But you can see the games that they play right you just have to be mentally ready to re-enter your trade You can't one time. So this is part of my trading Playbooks per se, right? So I already know There's a very good likelihood especially with this kind of size That they're going to rip this back into the zone and play games in here So they can get out of their their trade that they were wrong on But I automatically know There's a good chance that gets stopped out and I'm going to get back in one more time Right and I'll play this zone one more time So let's see what happens there And you can see here I'm not kidding you. This is my curse for making millions of dollars at one time in the e-mini s and p I mean it it is uncanny how often I get stopped out to the tech I should have been a little higher here. I should have put my stop a little higher above the zone But I just thought that was enough iceberg if they were wrong That it was just it wasn't going to come back up here, but How wrong I was so I won't re-enter this comes back here. Let's take a look at gold What's going on here? all right, so Probably should pay attention to my own positions So let's take a quick look at the where we're at here As you can see here, we're really if this starts I was going to get out of here before all that stuff just happened in an ES if this struggles here again, I'm going to get out of a quarter I'm probably going to get out of a half because it has a chance to break into the zone Now if I get something in gold I would love I will add to the trade and I will trade on my stop from my original Trade so what does that mean? Let's take a look here first with the sizes. There's nothing threshold yet, right? I want to see at least over 150 today in gold Like these right so this was what we got in over here So what I mean is so I'm already preparing for this right if this starts to move higher I'm going to get out of half and wait But if this starts to move lower and I get another bearish setup on my si indicator Right that's threshold This is not threshold, right? That's not even 100 So say I get like a stop stop run and it holds I will re I will enter A new trade on that and then I'm going to carry my stop That's way up here down to the top of this new setup, right? So now I have two positions on but they're independent, right? So this is how when you catch a trading trending move Um when you get si indicator after si indicator after si indicator setup You can trail your stop and you can have a that's that's you're gonna have five six seven positions on all independent All based on structure where you're stopping out and you catch a trending move and you have a month you're making day That's the whole goal of trading, right? There's just I just had a mentoring session before this webinar and I was talking to A guy and you know I explained to him, you know so many traders think trading is it's like a regular job where you have to make You have to keep an eye on that you have to make money every day You're not going to make money every day. It's not a consistent profession, right? The goal is well, you can see here too. How'd you like that? There you go Stopped to the tick but I re-honored but it's still had to take this on the chin Now it's time to puke guys. This is what we were waiting for Right, and this is a this happens over and over and over and over you're this trader Again, this may even retest it one more time I'll even add to this now because these guys are screwed part of my language Right 2,000 contracts out of that taste. I thought they got it back into their zone Stopped me out. They started getting out of their lungs and that moves it down again and now This thing's in trouble, right? This is to a tee every market same exact thing every futures market Is the same pattern, right? If you know, this is why I say it every single time If you are trading off a bar chart, you have absolutely No idea What is going on in this area? Don't you think you want to know if 2,000 contracts tried to stop the market and they're wrong? Isn't that important? It's the most important thing you could possibly have in your trading guys I'm telling you guys and girls and you can see look at this pattern I was I've done this on the in the webinars before. I don't know what I'm doing I keep putting a tick above the zone just go a couple more ticks and then I'm In this trade from up here. It's just upsetting. But anyway, this is getting ugly. So I'll keep an eye on this Now here we go. Here's another 1300 icebergs Now this provides me if this holds I can get out of my trade and I'll make a little profit if this breaks I'm going to put on a brand new trade Trail my stop down Right, let's shut up here for a second and draw this on so you can see what I'm talking about you can see There's some major paper taken to stand here and if they're wrong, it's going to be fun to watch Of course, I have to trail my stop now to here. I'm going to go a little bit above I'm going to be smart on this one. So I'm like a some days I'm like a monkey Keep sticking his finger in an electrical socket thinking the next time it won't hurt I keep putting my stops right above a tick above the zone like a moron. So this one I move a little higher So if this breaks I'm being aggressive because why I know what happened over here There's still guys caught from over there. This this is huge ice I Will add to it if I get stopped out and that's fine. I'm still going to watch this area But this is what I'm talking about. This turns into a trending move. Say this zone holds for me I get in my next position Now I'm stuck. I I stop I'll get into another position I'll have two positions on and my stop for both goes above this and you I just settle right So let's see here. I'm going. Oh, there you go. Thank you ice. There you go Ice That's what's so funny about this. You can just really watch how they Literally have control of the market, right? So this big money. They can spike it up like that, but that's fine, right? I made a little bit back that I lost on that stop out And that's fine. This zone helped right? This is exactly why this is so important if you're trying to have bar charts Do you know one wise this failed two that ice came in again right here and it helped Right, that's why I try to help my stop. I got out where I should have Now I'm going to watch this worded it hold when it popped up the bottom of this zone I could have added on that one, but I'm going to wait this breaks here. I'm in I'm going to get back in Again, it doesn't usually do it that drastically. This is just a screw you day for some reason papers. Just there's so Yeah, some volume weird volatility today. Did you just see that? I mean, let's just swipe it up five points And then we'll continue cooking in my position. It's just but that's fine. That's why you guys just saw So there there's obviously always the chance this thing goes all the way back up here, right? I didn't have to carry that all the way back up here. I based my stop I trail my stop not based on p&l based on Structure so I knew when this iceberg form it should not violate the top of this ice Or I was out right it held I didn't enter a new position because I never violated to the downside I will if it does but I got out now. I just sit here and wait. It's not a big deal. Sit here and wait Like a sniper wait for your setups This trades 81 50 or 81 75 I'm in again and my stop will go the same exact spot or spot What's gold doing? I'm about to do Again, this is aggressive. You could wait for it to break. Thank you ice So there you go They got me again twice. You saw you saw them get me with this I'm not so mad about this one because I had it above the zone But you can see they'll play the games, but they still have to puke, right? So you could have been really aggressive and put your stock kept your stop way up here I probably should have just because this iceberg was so big This is one of the biggest I've ever seen. I should have just kept it up here But these guys are in big trouble and it's going to be real fun to watch them puke out 4 000 contracts So now again If you didn't get short there, what's the pattern? Breakdown through the zone retest hold you start to see the red come in market selling you get in stop goes right here Let me put that stop in too. So I'm not going to put my stop. Thank you. I way up here again I'm going to in my mind based on my experience trading these si indicator setups I put it in the same exact spot and if it comes back again That's fine. It should not is the point right if it comes back Then it does it is what it is And I should be This is the one I want to be sure but I just miss yeah monster. Here we go This actually might be a chance to get in here though see here This zone here huge sell lies 422 If you let me get stopped out of the yes trade again Should just be constant on nasdaq because that's the But I can't help myself when I see that much ice in the s I have to trust the light. So let's see if this zone holds now So again, we moved a little bit below retesting if this gets back out I'm shorting it. I'm not doing it yet, right? This could blow but if I was short here My stop would be right here above the zone, right? So what I'm going to do here is I'm going to short into this position If this blows above here breaks above that's a bullish signal I'm not bullish to smart it. So I'm not going to take it. But what is that going to run into? This other zone right here, right? So let's see what happens here What I'm going to do here is I'm going to be aggressive on this. I'm going to short up here Because this was the zone. Remember I said once it broke I was going to wait for a retest Well, there's the retest so now My stop for that one's going to go up here Right, I know what I'm getting into because I just basically got short on a violation of this one Which was this zone here But it held now If I get filled on this, I'm going to drag this stop down here Which is confluent with the top of this zone But I just drew and then I'll have two positions on and if I catch a trending move It's going to be a monster day, right? Especially because I'm short. He has to I think I may have got stopped out Let's check would surprise me if I eat that market If I go to the nasa much better, do they stop me out again? They sure did All right, so let's let this materialize I'm going to constrain a nasa because it's just yes They just it's amazing what they can pull off in there All you need to know is they're in trouble, right? This this paper they may be able to flip it up You know, I'm being I'm being very conservative with my stops right now because I don't want to You know, I don't want to watch this thing rip all the way back up to 3900 but, you know, if this thing materially breaks again So I'm gonna get again. What's my rules? I get in twice. So I will get in again down here I'll give it one more chance stop below the same exact spot Let's see what happens here gold Keep losing track of that market That's my profit That's my gold. Where's gold at? Where's my? Oh, that's why because it's a buck in my head Sorry guys Right, you can see we're struggling in this area. So I'm going to get out of this is what I was talking about this market profile area We're having a hard time puncturing into This Right, and that's fine. I get out of half So we're just like hanging right here But if I start getting SI bearish SI indicator setups into this I will I will go full size again And then if I keep getting him I'll just keep adding because the Tennessee once you accept back into the value area Market profile value areas is to go to the other side. So that's the target If we get moving lower in gold So covered half I'm still going to keep my unless I see I will get out of the full trade if I see A bullish SI indicator setup real-time volume. Otherwise, we talk about this all the time on these webinars, right? Most traders start to panic when it moves against them and it means nothing, right? It's just I'll go screwing with you. What matters is it doesn't violate important areas like here Again, if I get a bullish setup, I'll get out. But if not, they can play games for the next three hours I don't care Right because it's not a meaningful area Let's change that to So we're on that Did I just get stepped out of NASDAQ? No Close again, I know what I was getting into here because this My stops up here I was aggressive because I'm more bearish but this Almost this right. This was only like 180. This was 400 and remember I said, I know We were above this but I still wanted to give this a shot. So I knew what I was getting into here I'm gonna draw this zone too. So it's thicker Again, hopefully people are following along. I wanted originally to to trade a retest of this Zone I'm probably going to stop down to this now again because this Is more important Then what I drew this first zone on which was this right? This was 200 214 this one was 420 that's more size here and it couldn't get below this zone Right, it popped a little bit below which NASDAQ does and then it helped I took a short basically this was a bullish setup that I took a short on based on this Right. It got above this zone and I got sure here but I was playing this zone Hopefully hoping we can get back down below and I'm not going to take a beating in that one too But again, I I prefaced it by saying this was a very aggressive trade which it was so If I get stopped out of this then equities are Winning right now and I'll just wait. It's this is still very bearish, right? So I'll just wait for my next setup Let me draw this so I'm just so we know where that's at So Scott, let's see Jean's asking about I know you're using buy and sell stops for entering As you can see that that four down there below But if other ways for entering like Market orders or limit orders, etc Um, yeah, I mean, I just I stop into trades just because I'm talking and I'm I'll miss stuff, right? You know the area if you're watching and you just wait wait for it and then, you know Then you can judge is it going to bust through right? So if this came down here like this, you can if you have your finger finger on the trigger You just hit mark, you know sell market. You can just go to them go to the market I put these in the stops just because I'm talking I'm flipping back between markets I didn't want to miss if this thing came down and blew through here I wanted to be in a add to the trade, right? Okay, I'm gonna move this a little bit higher just because I'm so sick of getting stopped out to the tech It's just makes me sick. It happens to me five times a day And I I know everyone on here is saying cry me a river because it happens to everybody but like I'm not kidding you It's my curse like I the thing is why it's my curse is I could put it up here And that'll be the high-tech I could put it here this high-tech I could put it right here It's just gets real annoying So me talking this is me talking to myself all day long It's good stuff to the deck so you're gonna probably see that right here, too But it'd be comedy for everybody All right, so, you know these iceberg areas are really important It may may play its game right now, but if this gets back below here, I'm gonna still take this trade This is kind of delayed, you know, and it's moved up pretty high again If this gets up here and starts You know settling in up here. I'll delete this and I'll just wait for a brand new setup as of right now I'm hoping this can hold doesn't look very promising But we'll see that let's check out a yes Let's see if they moved it back into that huge zone Which I'm sure they did because they don't Go down without a fight So remember this other this was the big iceberg, but then we had other ice before this it was like 1400. I think So that was this whole zone here All right, so we're back. I know this is confusing Just because there's just there was so much stuff firing off today, right? There's so many zones here I'm just trying to determine where this one was here Yeah, so I mean Again, this whole area is very important that doesn't help people right now But trust me that this breaks below here. It's it's going to be very you're going to see It may hold if this gets above here and gets back above the spot gamma level and I start getting setups I will consider longs right so right now my thesis is short. That's different from trading both ways right trading both ways is trying to catch Every move back and forth. I'm telling you it's not going to happen If you're trying it you're just going to driver's you're literally just might as well check into a loony pen because you're you will drive yourself crazy What I'm saying is when certain areas are violated my thesis is short right now I don't want to see one I don't even like that it violated this top of this zone here, right? That was this zone earlier This was the next one. I don't even like it violated that if we get above this now We're above all this all this ice has won right And we're above the spot gamma level. I will change my thesis to long, right Yes, I was trading both ways, but it's not trading both ways is because my my whole outlook of what should happen has changed Right. Hopefully that makes sense. Are there any questions, by the way, Bruce? I've been talking for a long time No, I think we've gotten through most of them and I've been answering a bunch in here as well Let's see. Andrew just came in with a new one. Um When you see that big ice and short Uh, and they hold a level and the es like a 83 there. Um, why not turn around and get long? Yeah, that's what I just explained because I Based on everything that I'm seeing right structure-wise Don't like the long and these markets right here, right again. We failed I talked about this when we first got on this is a big balance area We violated the high volume node yesterday. That's very bullish. We built a balance area This thing should have done that. It did not. We actually broke down out of this balance Broke down back below this high volume node of this bigger balance I I don't want to be long. I want to be long once we get up here, right? Or I'll give it a shot Again, because of all the real-time volume. I just saw I I'm not going to love the long above 3,900 Um, but I might be aggressive and take it But I really want to see us get back above this This balance area high volume node, which will also be back above here. And then I think it's off to the races, right? right now I am not bullish. So this is exactly what I just said. I'm not taking both ways Both sides, right? This is how I trade best. This is how I keep my head clear Where I'm not having FOMO every move like oh, I missed that big move. Oh, I missed that big move I have based on what I what my experience in knowing where we're at in the bar charts Knowing where we're at a market profile. Let's actually I think we looked at market profile for uh, yes Knowing all this stuff and again, I know all this stuff pre-market This is all stuff that you guys need to do before the markets open just so you have an idea You know where we're at. So when the stuff starts hitting the fan, you know how to trade this, right? This is not bullish for Taz either. These are many market profiles. Well, he's moving lower lower lower lower We're down below the 30 minute Down below the 60 minute, right? What are we bounce off of? I was just I can't tell if that's high but you know, but this was You know, you have to so if I was short from way up here I do watch prior box areas important areas. So this is resistance POC support So I might if I was short from way up there and I didn't get stopped out to the tick like I did I would have probably covered a piece right there You know Not buy that huge ice aside, right? If I'm just trading the trade I get out of quarters at important areas prior box areas are important areas, right? So this still my point is I'm getting out of tangent here, but this is still bearish in my opinion This is market profile. This is still bearish in my opinion, right? We try to get this above this value yesterday. We did this huge move Closed right below it. We've tried we touched it at the open today right down an hour below this What is the tendency in market profile to go to the next value area, right? Granted, yeah, this one was from before we did trade through it a bunch But this is pretty confluent with this day. This was Tuesday You know the point of control. So I I am expecting especially if we get below 82 This is this is my target. We're going at least 20 30 points, right? So that all these reasons combine is why I'm not long. So I'm not looking for long Yeah, it doesn't mean you're not you may look at something else that you were long if that's the case And yeah, you definitely would be buying down here if this you had this bias here That failed but then they came in again and that were they held it and it's holding right now So if you are bullish, yeah, you can play off that I'm not bullish based on my bigger picture structure. So all I do is I wait I come up with my idea my thesis for the day Then I wait to see if the real-time volume confirms it, right? So Nothing is really violated here. Yeah, I lost on these trades But if this comes back down through here, this paper is going to puke. They're holding it up right now They may get it above if they get it above this these areas, then I will Reconsider my thesis as of right now This thing is still not bullish for all the reasons I showed you so if this breaks below here I will re-enter this trade. This is more of a delayed setup This is wasn't this is kind of a variation of one of my five setups in my course But based on all of this, I know there's almost 4000 contracts invested in this area from here to here, right? One big zone basically if this bust below here We're going down to that next value or in the market profile in my my appearance in my opinion in my experience Right, so that's a long answer is Why I don't trade both ways because listen, I used to be the king of trading both ways I used to sit here trading this dome depth of market, you know, you know, you know all day long I used to average 50,000 contracts a day every day round terms And that's when the E-mini S&P was only trading 500,000 contracts total for the day So I was 10% of the volume so I'm the king of going back and forth So if I'm telling you it's Almost impossible to try to catch all these moves back and forth and you probably should listen, right? That's the point of getting on these webinars with me is to learn not mirror is to learn From someone that has the experience that I do of taking it of making millions and also taking it on the chin, right? That's the whole idea So what I'm trying to explain to you guys is try to come up with an idea They listen some days You'll come in like this morning when I looked at it. I was not fully. I even said it at the beginning of the webinar I was not fully bearish. I'm still not fully bearish like I was Again, I showed you guys When we got on I was fully bearish the other day and we tried desk room We talked about this when we broke down from this. I already talked about this today, right broke down built balance here Then we finally broke. I was I was short overnight. I caught this move overnight I didn't catch this whole move down, but I was really bearish this day when we did this I explained this earlier. We shouldn't have went through this so I but then this failed So now it's kind of back and forth. Some days you're just not going to have a read on the market There's nothing wrong with that. You can't come in every day expecting you're going to have a clear cut view What does that mean? It means you don't trade that market that day. That's what that means right? I mean It's that simple and that's why you want to have multiple markets that you watch So you're not forcing trades in a market that it's just not clear, right? It's just not clear so Again, I mean gold was a perfect example. I was For months. I was bearish we broke down here and then we hit this zone here Which was we've talked about this in prior webinars too. What was that? was the top of this Right, so I started to change my tune a little bit That was this big balance that we ripped up from we tested it once fail We came down there. This was check out my twitter feed from last thursday night. I had my book map running I heard gold ice gold ice gold ice. I'm like, what is going on? I knew this zone was important Then I looked and it was like 2000 by icebergs or whatever. I can't remember exact amount, but it was a ton especially for global hours, right and I See, I even said it. I go this is an extremely important area Put it on twitter guys saw real time. There were some guys literally saying I've never tried to go before but I'm going to take this trade And it was a literally a straight 150 tick winter overnight, right? So again, you have to you have to have the bigger picture You know Your thesis of what's going on But my point is so I was really bearish really bearish that I was really bullish really bullish after we bounced off that Right and then the last few days Has been back and forth. So I didn't really have a right so this up until This short and I'm still not completely bearish, right? But when we bounced off of this, this was this zone came up into here We built this balance. I was expecting it to do one of these Instead we broke down. What did we do? We retested what the i bottom note and we failed and now we're back into the zone So this can go either way if if I get a bullish signal I may take this again to the block to the buy side if we break through this zone. It's going we're going down here Right. This is a very very important zone. So again, you got to come up with a thesis in some days So my point when I was getting at that was a long talk to tell you that The last few days I like in here. I didn't really have an opinion right once we broke down here I was like, okay, this looks bearish, but I know we bounced off this which was that huge balance area So it's like I don't really have strong conviction. I'll have very strong conviction If we break down through here or if we get back above this right So the whole the moral of the story is you need to come up with an idea based on your longer term stuff And then come up with your thesis and wait for real-time setups to trade your way. This one didn't work out I was aggressive and that's fine. I knew where I got short at. I mean it's Nasdaq too. I'm sure I got stuck up there um I wanted to be aggressive because we were below some important spot gamma levels and I was willing to take that chance, right? so There you have Any other questions first? Yeah, we got a few questions in here. Jeff is asking How much do you consider the presence or absence of resting liquidity in this trading style? um Very much so right? So I'll use that to base my thesis and again right on my my learning session before I came out I was discussing this with the guy that You know, we talk about all the time heavy liquidity Is often a magnet and I don't consider liquidity this so this this is a very good example here, right? Yes, this is liquidity That's not important to me. This could be anything this could be guys trying to scare the market away from here They just throw the big order in the order book, right? This The liquidity that's been in there for hours. If not days, that's the important liquidity, right? So you can see here Let me look at this. You think this is important, right? They pulled it here But now it's coming back in this is liquidity that I pay attention to so when I'm kind of with my thesis I will pull up the liquidity and I'm going to show you something here too in the spies and queues and stuff where Again, I'm sure already short gold And I like it even better because this liquidity is still here. It did pull but we're coming back This is still very heavy relatively based on anything else, right? So yes, I see some up here But again, we're into that market profile So I think we'll trade down to this before we would trade up to this So I'm that just bolsters my short thesis, right? I'm already short that And in the es and then q many times you're not going to get clear liquidity like this just popped in here Again, I don't pay attention to that As far as basically my thesis Look when you look down here. This has been in here a little longer. It's still not that important But it's more important than anything else, right? You got that Down here, which again, if we break this I will stop at a disorder because I think this is a straight shot here And I think it's a straight shot down of these bucking levels do not give up on the shorter guys that This is what paper does they make you think so they can start to peel out They make you think and then as they really puke then it's the move down, right? They make you think you're wrong think you're wrong You know, especially on short so hard to be short these markets But again, I'm still going to be aggressive if this comes back down here But anyway, this liquidity is here, but a lot of times you don't see anything in these So what do you do? What can you do if you have the dx feed for stocks again? I don't trade stocks like I used to Because it's just it's hard enough being in all these trade rooms, you know going over live trading watching futures markets I can't watch stocks as well But what you use this stuff for is you pull up the liquidity and these in the tracking stocks and say, where's the liquidity? Now tell me if that looks a little different What does that show you? Right again liquidity People that don't know what they're doing that they look at this and they're like, oh, look at all that support down here, man Yeah, I'm gonna be a buyer No, that tells me that paper look how long this has been in here that the big money wants to get filled because Remember if their orders are just sitting here for this amount of time if anything happens in the world say, you know A plane crashes into a building or whatever. They're risking the market just ripping right through here That tells me they want to get filled right? That's why this It's it's just a basically a guarantee. We will trade down in here doesn't mean we're going to trade down here today No, but over the next my point is when you're basing your thesis This is going to help you determine which way paper wants this market to go. I mean look look at below here. Look at this Look at below versus above Right. Are we going to trade 20 dollars down today? No, probably not could happen Point is overall, this is still looking bearish liquidity wise the spy pull that up What does the spy look like? Not as not as egregious, but it's still there's really nothing above I mean you have these little shadows, but relatively this is the big liquidity down here that tells me We can definitely cover four dollars today in the spy, right? That would be about 40 points in the s&p and that's exactly what i'm expecting if we break that 3882 level Or yeah, 3882 level and that's what i'm expecting so you can expect this liquidity to get filled probably Then lastly take a look at the vixx vixx is usually inverse of the of the equities, right? Where's the liquidity at? equity is above That now you can see how you start to form a bigger picture of where you think the market is heading That's why on top of everything else i've showed you in the equities why i'm leaning bearish still, right? I was very bearish the other day it got i got the move it did its bungee jump like it always does But i'm still leaning bearish based on everything i'm showing you now You know papers fighting they're fighting tooth and nail to hold this thing up But you know if this thing comes back lower That i think that's it right at least down to this area of these areas Let's see Uh a few more questions whenever you're ready Yeah Ready, okay, uh, charles is asking about how you incorporate your tas river into your trade since he started using it Yeah, well, I have it up. So I don't know if it's ready for book map yet. Um, again, you can go to the uh, we Tas market profile website And I don't think I don't if you can get a discount on my site through that for that because it's brand new but I don't even think it's available for book map yet, but they have it for other trading platforms like thinkers or Trade station, I think it's coming off of thinkers when they're eventually going to have an on book map. Um I don't I keep an eye on it right now. I don't necessarily trade off of it because I haven't I just haven't seen it enough But you can tell it does it does work Pretty well. I mean, it's just basically a dynamic value area, right kind of like, um You know one one other thing that I watch I don't exclusively trade off of it is What so many traders trade off of this and that's fine because it's powerful, especially if you get right So say you're trading off vweb. This is what I'm talking about. You don't look at anything else But vweb and you like to trade vweb Um, if it you know trades in the vweb say you say yourself, okay, if it comes up here I want to get short Only if you get the real-time setup. So you wait for a move to vweb, right again This is in a vacuum. I'm just assuming some people trade vweb You wait for your bearer setup to confirm vweb because again, you guys got to remember man You know the lines on a chart mean nothing unless there's real volume at that area Real real volume is what determines the market movement not lines on a chart, right? So that's why you know, some days you get tests of vweb and it fails, right other days It goes right through don't you ever wonder if you're not using book map? Well, what you know people just chalk it up because you have to mentally So you don't go crazy. They just oh, that's just trading percentages trading trading as percentages, which it is, right? But I want to know why Why why if as much as I can right? So here's the goal Perfect trade. Why did this fail? Have you at this time and another time says another day and it rips right through why? Most of the time it's because you get real-time volume defending the area So no matter what you're looking at pretend. This is a 200-day moving average pretend That's a the binoculars level that doesn't matter you come up with your thesis Then you wait for that area and then you wait for confirming volume with book map with the SI indicator to agree With your thesis if you don't get the volume, you don't trade it. I don't right? Why do you want to be? Trading an area that you're not getting you're not a big trader, right? You're not a three four thousand lot trader. You're not going to you're not going to control market movement Don't you want the big money on your side in areas that you think are important? That's the whole idea, right? You come up with an idea a thesis or areas that you like Then you wait for the big money to confirm your areas that your idea is right Then you put on the trade fearlessly, right? So that's what i'm talking about. So I this is probably let's see what this is. I'm sure this was Was this my zone? I think it was 1787.5 And what time was that this was at 740 my time on mount. So that's 840 central For those of you following at home, it's still going to be 740 on this though. So let's see This is gonna be I think this is gonna be a perfect example. Let's see So that was Right here. There's nothing there, which is fine. You know, well you had this What was this? That was only 100 So again If I was trading v-wap, I would not I would not have taken that short, right? Yeah, it worked out But how good of a trade is it if it comes up here and this is this has got me on in the tangent. This is the This is the taz river the point of control, which is kind of like that's what I was getting at with the I'll show you that here quickly in a second with the The v-wap stuff. So this is kind of like the v-wap stuff, right? You got the high end the value area high the point of control and then the value area low, which is The point is how how much more confident would you be on the on this move up to this area? the v this is what v-wap was and then point of control if you saw a 400 iceberg defending that area, right instead of just hoping the area holds you know, hey, I got help here Awesome. This is this is even better and you control your risk So you see where that iceberg came in you can put your stop just above it based on the iceberg Then you take take the trade if you don't see anything you don't take the trade There's always going to be spots that work out, right? I want I want to know that paper is behind my trade that the big money is behind my trade or the dumb money Another reason you could have traded this if you got a big stop run a dumb and dumber and immediately fail That's another reason meaning the dumb money puke the retail trader puke There was no big money to push it through you know, there's no interest of putting pushing it through vwap right now You short it see what's going on here Let's see what's going on here. All right, so this is definitely a threshold for stop runs This area is just very hairy, right? Like I like I don't necessarily need to take a trade here I do want to see I would love to see this be a stop and hold less a stop and hold A stop and holds the opposite of the dumb and dumber dumb and dumber is when the retail trader puke's like they're doing right now Which is over 600 contracts 666. That's not that's not a good sign Um, but it breaks it holds the area then paper comes in and starts pushing it lower, right? So you will draw I'll just draw the zone here quickly It's going to be in between now. It's going to be even more confusing for people But I'm going to make it a different color here. So let's see that started here So you want to always expand your chart so you get the full the full price area, right? Some stuff's going off in the bounds too All right, so you can see this a lot of times with um, I don't know why this happens But you can start to see the something come in before it starts to draw this But you know as long as you know that you can you know the area, right? So yeah, that's just the update scott Um, you know the the best bid and offer updates later after the transactions um And the iceberg tracker like is updating after it it it's it's correct Okay, yeah, I mean that's how it always looks. I just you know giving them heads up And I want to make that a stick so just Say that and let's find the bottom of the zone stop run So that was it there and so this looks like a demo demo right now So if you were short and you held it through that whole like whole way you can be getting out of some here because I want to see As a short thesis. I want to see this hold Meaning this zone holds and it moves lower And that's not happening it's turning into a dumb and dumber right I can pull this up. Yep. But all this just happened right now. Wow. That's pretty volatile Geez this thing It did pop up. You would have made if you got long you would have made almost five points and now it's right through it Now this is gonna get this is getting interesting guys And he lies again, you know when you get little little guys like this in the middle of huge iceberg areas You just got to be careful. This whole area is really important. Put it that way Yeah, we have the the london close here or european close here just coming up I mean how many guys are just getting chopped to pieces in this area, right? So it's like, you know, I was one of them But I you know, at least I had a reason to be chopped up like that I still think this is going to break and I will get in this trade What I want to see What I'm going to do here is because so much has transpired since all this stuff happened, right? It did hold the top of the zone, right? Remember we were showing the first iceberg look where it held It's hard to put on a trade though down here and and have a 15 point stop obviously, right? So my point has a lot going on here I'm going to make this a half size instead But Because I still want to be sure if it breaks the zone But what should happen here if it does break the zone you should see some huge stop runs more ice Then you just you have a brand new signal and you put that on But you need to know in your mind, right? Even if you don't have a trade on even if you don't take the first break of this area Just watch it. You know, this is a huge Huge area you have all of the stuff that's transpired between It's the Spot gamma level a little higher, right? So 3899 all the way down to 3882. So this 18 point range is Imperative for the tone probably for the rest of the week This is just monster volume in this area, right? So whatever way this way breaks what's probably going to happen again is if it breaks here It's probably going to do one of these retest and I don't know go Again, it's hard to trade this this old stuff because we dare you're going to risk 15 points on a trade on the e-mini I don't I don't want to lose 15 points. So what you do is you just know the zone's important, right? Now you wait When it comes down here, if this is legitimately going to break you're going to see stuff firing off again And then you take your trade and you can base your stops based on the new stuff that comes in, right? So even though I got beat up on this This the story is not over. This game is not over. This is first quarter, right? That's fine Beat me up play your games because I know when this comes down here Especially when I get a new setup here It's go time like this is if I get like a you know sell ice or a stop and hold I'm in with as I used to say as we used to say as big traders with both hands, right? So This this is first quarter. Trust me if this thing gets going Very nice. It's gonna get up Okay, so we got a question for Adam or a question from Adam. This will be the last one Guys, we've been I've been answering your questions and Scott has as well So we've just been going for about almost an hour and a half here. So we we need to wrap it up Let's see How do you evaluate the market has finally crossed the support resistance that the trade is still on? Um And that you are not measuring it to the tick very precisely Um, and that you use some sort of common sense when evaluating this area But how uh is uh adam's question So say it again. How do I what? Well, so I'm going through uh an an area um of support across the support and resistance area and knowing that the trade is still on um and then um taking like You're using it. He's kind of Saying that you're using more common sense for understanding these zones and areas than some sort of like measured move Well, what I think he's asking is, you know, yeah It goes for anything right it goes for any area that you draw or your zones or whatever you're using You know, if the market, you know, I'll I'll draw my I'll have an important zone. So you see all my zones on We'll start with the actual real zones that I draw Uh Right and actually there's a I'm probably going to have a course on my website. I did a seminar. Um, we did a virtual For we trade desk where I showed how I draw these zones Um, I'm probably going to have that on my website here soon So people can Understand because they're very powerful, right? But the what I'm trying to get to get to here is You know, if I have an important zone again, I haven't updated this one. Um, so this this was an important zone Right. You had buy tail buy tail support buy tail support support, right? Then we finally broke came in Resistance resistance, right? So my point is It's still pretty relevant and you see the buying tail through it the other day, right? So so relevant, but if you get a zone where it's like through through through through through through through You can delete the zone, right? So it's the same with Same with the buying someone asked me this I posted Um, again on twitter look at it. I posted it on tuesday night I showed some iceberg areas and somebody asked me well, when is it not relevant anymore? One is not relevant anymore. This is still relevant. This still held this whole area, right? So this whole thing is still relevant When it's not relevant as if it does one of these it comes back and goes up here and then back through Yeah, then then you just this is done that this doesn't matter right now It still matters because we're still technically On all the ice that's hit hit the book today right this we're still This looks tiny the 756 looks tiny compared to these But we're still holding in this zone, right? So it's still relevant When I when I don't when I won't pay attention to it is if it does one of these and then it does one of these You know and then keeps going higher then I'm done with it, right? But right now This to here to here again, I know it's a very large zone, but it is what it is You can't can't just wish that wish away a big zone and this is what I talked about We tried to disguise all the time when we're building playbooks and I'm teaching them that stuff You know I had a guy the other day that I guarantee you probably 80% of the people on this webinar do the same thing, right? They are they have these these Static stop levels, right? So say they want to get short right here. They get short and they risk two points But what what is the two points that two points means nothing? It means something in your mind that means nothing to the market Your stops have to be based on what's important to the market Your stop if you do get short your stop needs to be up here above this zone That's what's important your two two point stop The market doesn't care about your two point stop and you're most likely going to get stopped out So you cannot base your stops on an arbitrary Number that you feel comfortable losing, right? So there's two ways to think about that, right? So again Just a two point step every time you put an order in that's that's not smart. Trust me. That's not smart You're not gonna you will get blown out of the game doing that. You need to base your stops on important levels, right? So a zone or say you're trading VWAP so here's a euro, right? Say you're trading VWAP Now you say now if it's an important area and you want to use the two two point stop say this is Yes, yeah use a two point stop So say you like to take the bounce off VWAP with this dip You can use two points below that important area That's different than putting a trade on right here and putting a two point stop it You're just asking to get you're gonna get stopped out 98% of the time, right? I'm hopefully I'm making I'm clear on what I'm saying there like you That that alone if you guys Understand what I'm saying and start doing that and you start basing your stops based on structure It's going to change your whole trading game. So what I was getting at here If you take any trades in this zone, you basically if you want to get long you have to risk below here If you want to get short you have to risk above here period and the story if not You're going to get whipsawed out So if you're using a two point stop a three point stop, it doesn't matter You you have to base your stops based on the structure or an important level That it needs to violate for you to be wrong not because you only want to lose two points Is that clear Bruce? Am I being clear on that? Yeah, I mean that's just crystal clear and it's so important to understand that you know the these zones like that because Else yeah Your your probability of getting stopped out is tremendously high Right exactly Any other questions? Um, I think that wraps it up. I guess michael's asking here. This will be the last On your 60 minute chart. Do you include the overnight session? No, so 60 minutes just regular trading hours because that helps me see gaps So gaps so very again, these zones are dry. I draw my zones tops of tops and bottoms of balance areas important tails the other thing you really want to pay attention to is Directional conviction. I'm gonna show one more thing and crude here more because I think this is the end of the move here Up move and I'm gonna show you guys why and this this leads into the directional conviction thing, right? So when you see High directional conviction that area is very important on retest, right? So So like this would be You know something like this high directional conviction This is a tail and high directional connection wherever those moves started from is very important It's going to be more clear when I showed it should go them But what i'm getting at I have the 24 hour chart I mean, I'm sorry. I have the regular trading hour chart because it shows me gaps Gaps are the same as directional conviction, right? So a gap where that started that's important on a retest, right? This one yesterday went right through it But the point is gaps are like directional convictions. So I will end on So we all know crude is just I mean, it's absolutely ridiculous like this is ballistic straight up Ridiculousness, right? I mean we've gone from 35 ish 34 straight to 64. I mean straight. This is what you call Directional conviction, right? This is on a weekly time frame, but That's insanity, right? So as far as never pulling back. So where could this possibly stop? Where is it most likely to stop right here? So I'm waiting I've been waiting for two days now going into yesterday For a bearish signal you guys may be thinking are you out of your mind? You're gonna you're gonna short this thing Why am I gonna short this thing? Fix this real quick because I don't know why it does this every single time Why is this area important? So this is a weekly chart. This is last July or January this exact area So the balance area But this exact area is what started this entire move When we down went to minus 38 dollars in the futures, right? It doesn't even show it on here But I can guarantee you there's some traders on here that had some I mean, I know traders had one loss on I lost like 20 grand because it went negative I'm not laughing at you. I'm just it's that ridiculous. But my point is this is the exact point the exact zone You had directional conviction here. You had a selling tail here started this whole move down This is a straight B line in doing a very important zone I will short this with confidence If I get something today on here In this zone and starting to happen right now, right? So And what I like here too, this is a B line move. So you can see this the longer term zone has drawn on my five minutes So it looks much bigger, but we're basically B line in straight Directional conviction on a five minutes in the five minutes since right into the zone That's when we know the zone so important from way back when what's that also? This is a bouncer and overnight that we broke down from we retested Couldn't couldn't get back above that's what started the whole down move now We're back to what the high vibe note of this zone. We know this zone is important If I start getting things, um, you know, big big volume bear steps I will take a short and I will and especially if you break down back through the zone again And I get them I'm taking a short and this could be we can start moving You know, I'm talking dollar moves now, right? Because this is so due to pull back And this is the exact area that this thing's going to pull back on one second I'll just give you an idea where we may Move down to this thing starts to sell off Right. So you want to watch You can use this for anything. I mean bitcoin anything, right? I mean, if you're waiting for pullbacks at bitcoin, you want to see where prior balance was was dropped, right? So this was basically One bouncer here Broke out from you had a little guy here. This is where there's directional conviction. So if we do start selling off This is the probably the first place we're going to pause right around 61 70 we get through this You got the top of this balance area You can see that's where this tail was put in the start of the move if we get through that Last stand for this area is the volume node of this bouncer. We break that there's not a lot I mean you get a little guys here, right that you got one here that But most likely down to the bigger one down here. So this could be a nice $10 pullback Right talk to me in about a week or two and let's see if I'm right Now that aside again, this is what I'm talking about come on with thesis. That's my thesis Do I like a short right here? No Not I mean, I don't love a short right here right now. I know like what I just said But when you you got to also go down more in a smaller time frame, why don't I like the short right in the exact Exactly right here. Well because We had a multi hour balance area that we're breaking out from I do not want to stand in the way of all these guys that were short that were probably thinking the same thing Is me that have to puke to trade right? One is this going to be a great short If this zone fails and this is a fail breakout of this current balance area and we break through the high volume node Then I start getting As I indicated setups, I will short this with glee right here I so I take that back because I forgot about this zone. I was telling you I want a short right now I might take something if I see some huge ice like we've been seeing in the s I might take something small, but I know just like when I took the s trader earlier You have to know, you know, again, this comes with experience. Okay. I know what I'm getting myself into try If I try to take a short right here I know I'm standing in the way of guys that are puking out of this balance area, right Am I willing to give it a shot if I see a big real-time volume setup? Absolutely because I know the bigger picture I'll be this important the zone is if this fails and this is a fail breakout on top of failing at this zone I cannot wait to short it Right, so just keep that in mind if this fails you will see in about a week if this if this breakout fails Let me get below this little balance area. Let's talk in the next webinar and I'll see where we're at I'm going to say we're going to be much lower and then another thing next webinar. We'll talk about this This new indicator here. I didn't have time to get into it. Plus I need to why I'm watching it for two days This icebergs tracker. It's showing you more. It's just helped you with exact price points Maybe within a Iceberg kind of like this one fired off. You know the exact point where the most volume fired off the exact price I should say right so that was 16 360 and we're holding above right now So again, you know If something fires off huge I may take a short I'm not loving it, but if we break that balance area that I just showed you I am going to be shorting with cool stops Yeah, just just a quick note on that that it's in beta a lot of people have been asking about it You know, it's going to change guys. So I mean it is beta and guys are just kind of playing around with it and getting feedback and testing it But the details are there's a lot more details on that new iceberg Indicator it it will show you when it was detected How much well how much traded If it was cancelled or moved also the same one that can be moved to a different price level Or or if it was completely executed. So you'll you'll know all of these details, which is pretty pretty amazing level of transparency Um, you know, it'll be out pretty soon. I just got you know, we'll let you guys know about all that but No, no more questions scott. So You know, it looks like oh, it looks like you got filled there Yeah, I got so it's still not doing anything yet, but trust me this is This is gonna get interesting now. So I shorter I got into a half position here. I you know, my stop is going to go back above here It's a large stop. I understand that but now I'm looking for something new something new starts to come in Not then it's go time then these guys are all in big big big trouble Especially because I couldn't get it up here They're they're done. How many times can they push it back in here and be I'm telling you to get something now I'm shortened and I'm looking at liquidity level first to cover maybe a couple then I'm really looking at spot gain levels So just be ready. This is below this area guys is what we're waiting for all day That's why I try to short the first two times again this right here This first quarter this game is not over. Trust me All right Excellent. Yeah, all right. Well, uh guys scott has been very generous As always with his time here. So it's uh an over an hour and 40 minutes or so So thank you very much scott and we'll catch up with you next thursday Great, I appreciate it. Hopefully uh, it was not as confusing as we had on the webinar There was just luck going on but guys just remember, you know, this is still One of these if you see this move down here say it collects this hits this liquidity bounces Just watch for a return and then if it fails again, you may not get it But the conservative way to short this is wait for it to move away retest one more time Then you can short it and these are the areas that you want to be watching if it breaks this videos Just look for your way for your real time buy it right if it comes down to this stuff here And you see nothing you hear nothing You probably want to cover most of your position if you start seeing bearish stuff Then you want to yeah, if you see something bullish, then you know, hey this move maybe over right now I'll get out of my trade and I'll wait But if this breaks this with something bearish This my point is let the volume confirm your area always To the end of time If you guys if you're not using volume in trading, you do not have all the pieces of the puzzle period And the story you don't you don't have all the information. I don't care how well you're doing as to this every time I'm on You can be doing 10 times better if you understand real time volume in the areas to watch In your trading because the SI indicator and book map are the greatest things I've ever seen in a futures trading period any trading All right All right, thank you scott and thank you everybody We'll have a spot gamma on tomorrow. He'll wrap up the pro trader webinar series 10 a.m And you can catch up on all of recordings there. They'll be in the book map pro trader webinar um Playlist on our youtube channel and for reaching out to scott if you have any interest his courses deals from scott His twitter all that content Or contact information is in the chat I put it in there periodically for you guys so that if you came in late, you still get it there Thanks for coming everybody and we'll catch up tomorrow. Thanks scott. Thanks guys. See you next week. Appreciate it