 All right. Good morning traders. Welcome to the book map live trading webinar This is Bruce at book map when we do the live analysis here every Monday Tuesday and Friday live trading with J trader on Wednesday stocks and Thursday with scoppel scene and Friders and Yep, this is every day at 10 a.m. East Coast time We'll go through the disclosure really quickly here, but understand what you're getting involved in this is general disclosure All book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations The risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results. Let's jump in. Let's take a look. We're going to look at the S&P e-mini and See what's going on here in the order flow And bigger picture stuff. We want to take a bigger step back. Look at yes last week and see what's going on and Some insights on that as well. All right, so S&P. Well, you can see the dramatic move to the upside here. Well 20 points or so Through this high liquidity at the top of the range here around this 4460 And just shy didn't didn't get up to the 75 liquidity here or 80 liquidity up here And then right back down here. Okay, so we're and then you can see the sellers coming in here trading into this liquidity here At the kind of 44 45 And let's see if they can break it further there. We're below all of this opening range here So let's see if they can bring it down to 44 40 And lots of liquidity down here. You can see it here that came in at 930 down around this 25 level here 849 contracts. So a lot that's kind of dominant here in the book As you guys can see also another one down here at 4410 So if the sellers want to reach the buyers, this is where they are. All right, so All right, let's take a step back though We're gonna look at a bigger picture here and then come back in to look at the order flow What we want to do is we want to look at order flow around our levels And we'll look at the smaller time frame levels here in just a minute Well, we'll step back. We'll look at the daily chart here the hourly and then the 15 minute here. So the daily here on the left Guys we talk about market structure in here all the time It is essential to understand market structure no matter what time frame you're on so here You know in terms of market structure, you know, we talked about it like over these, you know, several weeks here Where we see these big wicks we see huge rejection You can see the even wicks up in here in rejection. So, you know in a downtrend basically Here we made an equal low and we can see the buyers come in here and they closed at a higher high up here from the previous day and we saw continuation and Movement to the upside we were looking for last week is kind of up up into these levels here They're on this 43 20 or these wicks up in here And then if we can continue on we're looking at these wicks up here You can see what happened We traded all the way back up to these ones here. Now. Why why such a strong move like this? With all the things that are going on in there. Well interesting interesting move here And you know, I can speculate on it. I don't have the data to back it up However, it was options expiration There's a lot of people short a lot of probably naked puts as well as covered calls, etc and You know, we saw kind of a shift over from commodities back into indices stock indices here There is no reason for it to slow down And and for it to continue on up It's the people that are kind of trapped in here would be maybe down at this level here over several days from the previous week And yeah, you know come up and spike above some of these areas here just right up into the This area up here as you guys can see forty four seventy five ish Just today. That's what it looks like So, you know now we're gonna have a we had triple quadruple witching last week and I think this rally is related very much to that and we're gonna have a reassessment now this week With with options and the auction in the auction in the options So yeah for you guys in the spot gamma arena there check out the hero indicators and Your options levels and watch your your your options Volume and the Open interest and and watch how this really changes and shifts here and get a feel for what's going on out there in the market All right, so yeah other than that like really not too much to cover just some beautiful moves here This was this one here in terms of market structure Just a beauty. I think this was during FOMC last week Drop down into this kind of gap fill area here and then it right back right back up This is why market structure is so important to understand like where traders are And where price might go Due to these previous transactions and swings All right, so right now you can see we're selling off. Okay Move to the up upside here and then boom sellers right back in so on the 15 minute chart Well, there's kind of we look at where these pullbacks might take place This isn't bad right here around this kind of 44 28 ish level maybe a little bit higher 30 But Another one here. Well, there's also a consolidation period in here I'll be it not much So that's around 4402 oh one somewhere around there the figure Another one. This one's a little bit clear is back down here 43 71 Okay, so just some some areas here. We want to kind of get a feel for in fact Let's let's mark them up. So we'll we'll input a Horizontal line here Okay, so we're just we're just drawing up 4471 we're just trying trying to draw kind of I really struggle with this 4400 let's just put in 4400 and then we'll move it around All right, there we go So yeah, I mean there's all sorts of little areas to look at in here And and where we might be going here. So what let's try to mark up some of them And then we'll see over the week how this plays out. Oh Hold on a minute here horizontal line. There we go and 44 or 40 43 60 and guys, I'm sorry. I haven't checked the questions yet. So sorry about that. We'll get there though horizontal line at 4438 and we'll drop that a little bit lower somewhere around here and Just one more and then and then we'll look at book map here I just want to get a feel for some of these levels here and also to the upside. I mean heck, you know strong move We might we might end up over here You know later in the week Around 45 75 and another hundred points higher Not a whole lot of data this week. So that's another thing to look at and consider here We'll just put it at the figure. All right, there we go. So we have some lines to take a look at here All right. So yeah, we'll take a look here We're looking for these sellers try to just bring it down to some of these levels here and then we we're gonna mark up some of these levels and and then You know come back revisit some of these areas here, but look at the liquidity Where is that liquidity lane in the book here? All right, and where might be we might be going here All right. So I'm taking a look back here at At book map. All right. So we we've traded in into the the 44 40 here a little bit of a bounce out of it here But yeah, I'm still more more liquidity on the bid down at around this 30 level and our 25 level that we noted 850 contracts down here. All right, let me let me jump back here and take a look at any questions you guys might have All right. Yep. Good morning Alan Huge charm on the Vanna rally last week. Okay. Yep. Yep That that makes total sense a dog just huge. I imagine and Yeah See what we have, you know, moving forward here so You know, we're gonna see a lot of open interest, of course. I mean it was options expiration. So anyway guys, yeah, we'll Refer to Doug here For more of this stuff Doug's gonna be hosting an AMA or we'll have an AMA ask me anything with Doug on Friday more on that in the You'll see an email coming out regarding that. All right. So I think we're all caught up here and Yeah, good morning Jeff. All right guys, so let's take a look here and see what's going on and and check out the order flow. All right, so And market structure here take a take a bigger step back and look at kind of the market structure. Well, obviously we're down trending and You can see a couple of different things here the move up and Then the move down Okay, and we're broke here. So this is the critical area here and it's right at the 930 cash open So right around that area here in fact, let's just get rid of all these lines or these two Rectangles and we'll put in our line here Okay, so this is gonna be your under over basically. I'm gonna put it up here around 4452 I know the figures here, but we want to take a look at that. All right, and Yeah, and we're gonna start start to read the order flow now. So we've got our kind of bigger picture What we think is kind of going on here Sellers, you know continue to drop it here. We see some buying starting to come in here around this 40 area here But we're right back down and we see more selling again here. Okay All right, a lot of icebergs here just picking up quite a few in fact at this 40 level Okay, but nothing nothing yet. In fact We're we're in a downtrend and we're gonna stay with this downtrend until we see something different In fact, the the primary scenario is more selling into 40 here and then hit 32 basically Okay, so let's see if we can get this move here. I'll get enough sellers in here to make that make that unfold All right, so What I want to I want to just kind of reach out and One of the things I wanted to cover in this webinar here is talk about talk about like who's in control in specific areas and This is this is a little challenging to do for today this chart. It's not is clear but let's Let's let's do it anyway here. I mean like when you guys look at this chart here Who do you think is in control and and you can you have to kind of name a specific time period as well? Yeah, I would say sellers as well Yeah, and and where we're in particular and maybe what level or what time as well So you okay 44 60 Allen? Yeah, I like that below the VWAP once we really below the VWAP. Yeah. Yeah, that's that's also pretty nice Alec So yeah, yeah very very good. I mean that that's a nice one You know really kind of picked up here and then I'll also in here. Yeah, I would totally agree You can even say like, you know, technically it really happened up here But like this is a lot of buying in here, right? So The sellers did really you know, this is where it really kind of moved though And you can see the volume starting to come in you can see the the dots here You can see the bars down here and then especially here You know, this really kind of stands out here But I also like what Alec had said in this area here a bit of a pullback shallow pullback, too It didn't come all the way back up and continuation and strong selling Followed by another leg of strong selling and then some back and forth in here and then again selling and now we see it's kind of we're still Still gonna remain in a downtrend or You know still still show that kind of bullish. I'm sorry bearish Slant here and stay with it. Hey until we see something different here now We just noting in here. Yeah, there's there's a lot of buying starting to come in in this area here But has it broken any structure here and the answer is no Okay, so let's look at the market structure in here and Yeah, good job. You can take the rest of the day off now Yeah, you got a thirty one point seven five move that's that's awesome Rob excellent So yeah Anyway, let's take a look at this here and start to kind of understand what's going on in here in terms of volume and trend and and market structure Okay, so in fact, let's just take some of these things off of the chart to begin with We're gonna take off the the volume dots the heat map. We're just gonna get best bid and offer Hey to understand market structure All right, so as you can see like we're still making Lower lows and and lower highs. Okay, this is the first time we've seen kind of a lower high here But I don't think this is over yet. So I think we're gonna we're gonna revisit this here Likely, but we got to see we're gonna look at the volume in here And also the heat map Where's the where's the auction? How's that looking here? And once we get some sellers down here? We should be able to break it and then trade it back down into these lower levels here Where we know that we know that you can see it in the book here 4425 lot of liquidity down there. All right. So here we go. Here we go. So looking for our sellers in here All right, so we have our market structure now. We're looking for sellers Big big selling here and we want to see continuation. Let's turn on the heat map, too Hey, so well look at the a bit of a flip here. They kind of pulled some of this liquidity down here I'm sorry. Let's see. Let's take a look at this. They yeah, they did pull at this level They stayed here though at 40 and They're still staying and they're adding a little bit more back at 40 and a half here Okay, so let's just see this dynamic here. We also see the the offer Coming down a little bit more a lot of liquidity in here And just coming back in here as well at 44 45 Okay, here's a little bit of exhaustion Let's see if the sellers come in and pick up and trade into it and through this here. There they go Okay, and looking for continuation here now. They're back in here. Look at these guys are back in here at 50 4450 here And now they're pulling okay, so now we we know there's sellers in here. Okay a lot of aggressive sellers So, uh, we we saw the exhaustion up here. We're looking for our sellers here. We're looking for continuation Okay, I know a lot of icebergs just picked up right here If we get more sellers here, we're going to get the move lower. That's what we're looking for There's some exhaustion. There's our sellers. There's our move that happened very quickly And that that's uh, you know annoying that these things happen very very quickly like that But you can read it we you can read it in real time very very closely And uh, and here's the move right back up So we got we got some a little bit of volatility going in here right now um Still sell side until we see something different Okay, lots of lots of icebergs in here Uh, uh order flow first order flow rules Okay, now we we see the move back up into this previous structure here It's a very small structure albeit Okay, well, all right, so now we're finding buyers coming back in We're gonna massive stop run here Uh, let's get cumulative volume delta out of here for right now Okay, so and sellers coming right back in Okay, so we get a little bit of a battle in here, but uh, uh, yeah The the move back up into this range here to the top here and look at the lack of buying up here Do we get more sellers down here? Let's see That's so that would be the primary scenario and them to trade down to 38 and uh 34 or 35 Okay, so you can still remain sell side here basically. This is uh Not financial advice This educational purposes only And we'll watch this order flow here. Give us clues. What's what does the market feel about this here? Okay, we see some buying coming in but there's really not much going on here at the moment It's kind of dark around here. There's some adding and pulling up here But yeah, there's some exhaustion of some selling so they should be able to hit it again here Uh lower 38 36 35 A little bit of exhaustion there see that And if we come back down and get our sellers though, that's when we should get our push And we didn't get them we didn't get them Wow, look at the stops just triggered here as well Well, it's just a blip actually okay All right, so uh, yeah, we see we're back up here now. We did break the top of the range here And we see both buying and selling up here. So it has not accepted higher All right, let's see if we get sellers right here again at 40 Let's see if we get a book order book and balance here looking for our aggressors here Hit this 38 and threw it Down to like 35 here And lower and lower we're really looking for our kind of 32 30 and our 25 levels We're really what we're looking for here Okay, now why up here, you know if I if you guys take a look at this up here Um, you know, it's possible. It could have it could have come up into like 46 40 47 up here Uh, but uh, why um, will we still kind of remaining um, uh sell side here just kind of Just You know talk about a little bit more about market structure. What do you guys think? Beautiful ignition now go there Look at that and uh, uh, you know, does he does he get filled? No doesn't look like it Just trying to skew the auction is what it looks like POC moved down. Yeah, we haven't we haven't looked at POC. Um, uh, that's that's uh And we're going to talk about POC. In fact, we're going to you know, kind of step back and look at like some of these, uh We're going to look at patterns. We're going to look at A different trading strategies and methods, but more much more broken down in in terms of what they really mean by the order flow Uh Ranzul, um The mbo bundle. Yeah, it's down here Yeah, that is correct. These are stops at icebergs All right guys, here's here's what we're that's our primary scenario. We're looking for our 35 level. We're just just about there I'm still looking for lower now you know the trend is is is starting to trend uh, and um Kind of breaking this consolidation period up here and starting to trend lower Uh, a little bit of a battle still these buyers Still still kind of battling it back and forth here, uh, but let's take a look at our higher time frame And we were just initially looking for this move down into about We have 37 marked up here. I think No, I'm sorry 31 31 So we're looking for our 30 level and it's it's here where that liquidity is at around this 25 level Just a little bit lower than that uh in this little area in here Okay, so still looking for it so the move up here And why we're still looking for this uh this continuation move uh to the downside So we we have you know kind of structure within structure, but here's here's what's going on If we take a look Uh, you can even see it beautifully here and then here So again market structure And you can see that this is actually a lower high in here now This is a consolidation period here that they broke above And you see a lot of buying starting to come in In the bigger picture though sellers remain in control. You look at the bars. Look at the dots Again dots Uh, yeah here they're kind of fighting it and they can't make a higher high Uh from this this point up here now, they're making slightly higher highs in here and they they broke above this Hey, but in the bigger picture in this move here, and it's not that much of a bigger picture Uh, we're still bearish And we're waiting and watching for those sellers to come in right around here Which they did and you can even see the retest back to those sellers here So understanding this market structure is really critical and look at the volume within it and also look at the The liquidity within it here Okay from this you can start to develop your trading plans You can start to look at some of these areas in here and We'll we'll talk more about that Here here and here we had a slightly we saw that kind of breach above here And um, but it did not accept higher. I mean It rejected basically it kind of peaked above it here And then we're looking for our sellers in here and and we got it and we got a continuation here Okay, this was actually what we were talking about it was this little area in here So here's where they broke But it didn't accept higher. Okay. It tested kind of peaked its head above it Uh, and then sellers came in right. So let's let's take a look at it here. Um, let me get rid of this one And here we go now look at this. There's a push underneath here Okay, this is uh, you know Kind of a kind of a spoof type of activity here. I mean very high liquidity. I don't see it transacting It's not really a spoof. They they they stayed in the book here And looks like they transacted here So, uh, so they got what they wanted. They wanted to be buyers at a higher level. They they got it And uh, and they were pulling up here So, you know had the opportunity to go higher Uh, and then we come back up here and now look at this small little range in here Okay, we have a few buyers up here. We have a lot of selling in here Okay, we have a little bit more buying up here The possibilities there still for these buyers to take it higher Here we start to have the exhaustion Now we're seeing sellers down here We come back up again. We have uh exhaustion There's no more buying up here Okay, very little very little here Uh, and then you see selling here Okay, so when we start to see sellers in this little range here Look at look at this the shape of this range up here Okay, so some some buying here but countered by a lot of selling There's more selling in here and let's just take a look at our cumulative volume delta here Okay, you can see it. There's more selling in here in this little range Now we have exhaustion up here and we have sellers here Again, there's an exhaustion at a lower high And we have sellers here We're looking for them to push it through especially this area right here And we we get it we get the follow-through Okay, so in this range we'd be looking for it to test back down to here Or maybe back down to the bottom of the range in this very small time frame But if we look and you can see we even got a little bit of a bounce in here a little consolidation, right? Uh on that time frame But if we look at the bigger picture And it's not that much bigger of a picture. This is where it rejected up here And that's that's what we're reading up here. It's like okay in the We started off looking at Uh, who's in control in in the bigger picture for uh today And then now we have it this same idea same concept that matches that bigger picture And then we looked at this we kind of broke down the order flow in here So we are looking for continuation to the downside and that is the primary scenario here And we got it All right, so even even with this buying in here now, we're just noting it. That's that's quite a bit It's quite a bit But we're still bearish here There's yeah, maybe they broke a smaller structure in here, but they have not broken this one nor this one up here And they may come and test it and they may test it right now And so but but we still have not seen a break of it So you can still stay with that primary scenario Is this make make sense? Do you guys uh Is it is it clear? Yeah You have any questions about it It is the order flow that makes up all of all of the stuff in here Better than your footprint. Yeah, I totally agree. Um so so um the the footprint is um Uh Yeah, I mean, I love it. I think footprint was great. Uh, I just Don't think I think at first off. There's one thing it's aggregated data on a bar. So it already kind of like Kind of mashes it all together. So you really can't see because it's it's an aggregated bar Or period of data Whereas book map is a streaming best bid and offer and then secondly, there's no dynamic about the liquidity in here You can't see it. You don't know where what's the other side look like? What are they trading into? Uh, and here we we gate we can gauge that and we can also gauge just so much more Um, are they lowering the offer? Is there high liquidity there? Are they pulling on the bid? Do we see more sellers come in? We do we're And we're already in this downtrend. We're looking for that move into this lower liquidity Okay, because this is where the buyers are they're down here Yeah, I know there's a lot of it's interesting. Uh, so as you're mentioning this about, uh, Hard to read dynamically Uh hindsight. Yeah, everyone's a genius. Um, the um And you can look at your high volume notes. I mean, I like footprint charts. It just there's those two really big drawbacks Uh, and um, and that that's you know, um Not not good. I mean, uh, you can't you can't you don't get insight to that Uh, those two elements and those are really important elements here Uh traders stop buying spy puts vixx is dropping Okay. Yeah nice dug. Wow. You're giving some really good insight dug Yes, it's testing spot gamma levels. Yep, exactly We've got two levels here a combo level as well as level two, which is important Okay, uh, right right at this, uh, well sp or the spx would be 44 Would be the 44, uh, 50 level here All right, so we have a lot of reasons now Now we just need to see the order flow follow through here We have a lot of reasons to look for buyers here dug just outlined a beautiful Uh, uh scenario Uh with all the different correlations Hey, there's a lot of things going on here now. Do we see the buyers? Yeah, they're starting to come in Okay, so up here we need to see them break it and then we'd be looking for 43 up here, maybe 44 We're getting it. We're getting it. They're doing it. So this is the first test. They got it I got a trade to here and they're just we're just about there So, uh, yeah, thanks to to dug's insights on that Uh, and now you can see Even even with all those different correlations like it takes a little while for these things to turn around You see the selling come right back in You know, even with all of those things like still We're we can still remain bearish here Hey bigger picture Hey now let's just zoom out here and that and get a feel for it All right, so this is starting to shape up and look a little different here A lot of buying not too much selling more buying here. Okay. These guys should be able to break it to 45 and maybe even 50 If we get enough buyers in here, they should be able to do it And just start to see the see the turnaround in here. See the the buying in here Okay, now we we want to really confirm this though Okay, and we'd be looking for uh, uh, these levels up here 44 45 looks looks really good. Uh, here they go. All right buyers should be able to do this and we should get a nice stop run too Um, you know look at the shape of it Hey, do we see this kind of buying here in some of these levels in here? Not really Not really do we see buying that? Uh previously before it not really and now they're breaking the structure Okay, so we're getting a kind of a shift here in the order flow We have a lot of other reasons too, uh to look for a move back up to 45 and maybe maybe 50 here Okay, so it's accepting above here above this swing Above this one here not yet And here they go. They're going to go for it right now So we should see the move to 50 or 45 and then and then 50 And now let's turn on our stops too. We're going to see nice stops in here stops in icebergs Okay, can you guys see that kind of shift here in the order flow? Uh, so so you're looking so so you're looking at btc Following in spy almost exactly. Yeah. Yeah, they it's really interesting how that over the years changed from Kind of a hedge to just following the indexes Let's take a look at some of the other markets as well Hey, are they turning around? Yeah, they are Okay, so this is good. We want we want to see that Hey, what about uh the russell? Yeah, not as not as strongly But it's it's also doing it's above the swing here and we see the buying coming in Not not as nice on the russell Hey, what about the naztac? Yeah, naztac's not bad Boy naztac looks like it wants to trade maybe up to here around the 40 level the three three 40 or something Up here Okay. Oh guys. Sorry. Uh, let me let me catch up on the youtube A live trading with jay trading. Okay. Yeah, thanks vince in youtube there Um The bubbles are the market buys and sells that is correct frederico. Yep. Okay. Yeah, I think we're all set All right, let's go back to this s and p. Do we get our move yet? Almost almost at 50 Well, dug was really helpful on that one A lot of different correlations there guys uh, you know, uh If we if we step back though and look at it here I mean it makes really good sense, you know, we're we we remain Uh, bearish until we see something different. We're starting to note something a little different here We see a lot of buying in here. Okay, that's different We don't see it in here this move. There's this one spike in here uh, and then uh, uh back back to this, uh, you know, uh Kind of 52 or three or area here. Uh, and then the continuation to the downside all right, so In terms of market structure. Yeah, it's starting to kind of test, uh, some of these areas up here 47 And you can see it didn't it it kind of poked its head above again, and it's right back down into the range now However, we're going to look at a different structure down here And we're looking for pullbacks to some of these structures just like we're doing on this chart here earlier Uh, where some of these pullbacks might occur in in here. That's what we're going to be doing in here now and uh Yeah, so where do you where do you guys think it would be the the first pullback? In this move here, which we know buyers took control down here as you can see In terms of market structure, it's yeah, maybe a bit higher Maybe it's back up above here and they they took control up above this swing here Uh, but there's also a smaller structure in here and you can see it Okay So where do you guys think the pullback is likely? Okay, based on this smaller time frame where buyers are in control in this smaller time frame Well one one would be right here And we're all we're just testing it right now Okay, because we came up into and transacted into this liquidity here And you can see it kind of went above it came back down bounced off of it and continued on So we're looking for that move here and they they just did the same thing They kind of went below it and then now now they're back into it here So if we get enough buyers in here looking for them to move it right back to about 45 46 here Okay, but this would be a nice little pullback here To to that little area and then um Another one would be right here around 41 and a half Or maybe even like uh Yeah, you know, we'll look at a few different ideas here Okay for pullbacks top of the range here Well, we can even go all the way back down here We can go top of the range here. You can see the pullback to it already here on the way up Uh top of this range here Yeah, you know We'll mark it up. Uh, and then also this one in here Okay, so these would be your pullbacks now We could even continue on and look at it and and verify it in hindsight We would also look at this little structure here And and they came right to it And bounced we could also look at the pullback on the opposite side here And are already pulled back to it here But you can see where it dropped from where the sellers came in and dropped from look at the retest back to it Okay, also here. I mean you can see like they kind of retested that one too Yeah, thanks guys for the Yeah pullback 44 40 Yeah, 44 40 ish. I mean, yeah, I know what you're looking at you're looking at the liquidity in here And that's a good one for sure I was just looking at market structure not the liquidity if we turn off the the liquidity heat map And then I was looking for the heat map to kind of line up with that Some of these areas here in terms of swings So that that's kind of what I was thinking here. All right, so here we go right now. We're above this one too Okay, so and we haven't tested the high the swing high here on this yet But uh a pullback here bounce off of this little area here Now, let's see if we get our buyers again Okay, this this looks good top of this one right here And let's see if we get our buyers in here And trade right back up and threw it here here this time Okay through 47 and a half Up to 48 and above We're looking for 50 the bigger move was 50 and that's what we had outlined Uh earlier we talked about coming up to 40 44 45 and then 44 50 Here we go Yeah, I like no I think you're you're the 41. I don't know. I mean This is what I was looking at here is looking at kind of the swings looking at some of those transactions And and kind of you know just marking up some of these zones in here uh and and why so uh But yeah You know, I like this 40 area too because we were looking at that previously Over in here and the transactions over in here. All right. Here we go up into 50 And let's see here. Can you show where orders chase price? Sometimes it looks like liquidity gets Getting chased. How can I tell the difference? Um Yeah, I mean well in terms of liquidity typically What we the way we look at liquidity and I think the market understands liquidity is that longer term higher time frame liquidity Is is well digested by the markets They know we you know 44 25 and and 10 down here. There's a lot of liquidity. This is where buyers are They came in at 9 30. This almost looks like a stock in this sense Uh that there's high liquidity at these levels and they're still there. They haven't moved So if uh sellers want to reach those buyers. This is they're advertising that there'll be a buyer down here So here we are into our 50 level Now the shorter term high liquidity Or the chasing it would be something else And um boy, this is getting really kind of messy in here. Um And that is something that we gauge Something that we want to understand does it repel or are they attracted to it? So when we see for example, there was there was some really good examples earlier Let's see here and I I hope this is answering your question so so When we see High liquidity come in here now we saw some and I know we saw some examples here I mean, yeah a little bit in here like they're pulling here. They're adding here. We're finding buyers who are getting our answer here Also in here You know, they there's high liquidity in here. They trade into and through it. So there's buying pressure in here And you can see that was actually turning the turning point And then sellers right below it kind of trapping those buyers up here In fact, and we see we see an iceberg a transaction in here or a bunch right in here Now this is a beautiful move here. All right, so Oh, yeah, here here's some of this Here here here. They're kind of chasing up after And you can see this algo in here This is one individual actor Uh, and uh, yeah, he's wants to be a buyer at a higher level is what it looks like Uh, but he never took the risk. He's you know far enough away and then he ended up pulling here So we don't know is he chasing? No, I don't think so because if he really wanted to end he would have He would have transacted Uh, so um This kind of chase here by liquidity and it's repelling sellers. You're finding buyers Move price away from that area here Well, it makes you kind of feel like okay, they want to trade it up to this liquidity here so they can You know enter a short position And then look at all this selling up here. It's like, okay, you know, they're chase. This is like chasing in here High liquidity at a lower level here, but it's transacting Okay, and then again in here and here, uh, and it doesn't transact likely the same guy Hard to say hard to say on that one, but likely Uh, we get the move lower But you know chasing is a pretty easy thing to see, uh, and but the question is do that do they transact? All right, so we traded into our 50 level And we're just testing see where they broke out from here and we can see sellers coming in All right. Do we see anything else in the book here at the moment? Not not really pretty pretty back and forth in here All right. Well, we do have some market structure even on this lower time frame here We're trading right up to it right now. This is where it kind of dropped from now But look at the selling in here. We want to look at that Hey selling did come in here It's not a whole lot though. Most of it kind of sold down here When we look at the um transactions in the uh, uh, you know by the uh by the aggressors That consistent strong volume That moves price Is really what we want to keep an eye out for And that's taking control and moving price away from an area Now if we see like if we saw see this this big red dot here If we saw a string of them in here And we know it's not a stop run. We know it's like new selling starting to come in Uh, then that that's telling and it was consistent all the way back down to here It's like sellers are taking control from that point onward down or trying to at least we don't know until it's confirmed But we do know that it's pretty strong now the price movement is it's only like it's like two and a half points or a point and a half or whatever it is Uh, that's not much when we see it like four or five s and p points. That's meaningful The concept is this You have a consolidation and then break out or break down So here's here's here's the here's the buyers coming in. Okay now, um, stop run We know that but this is pretty pretty strong Pretty strong and pretty good price movement from about 51 on up to about 53 and a half Not bad Three and a half points. Uh, so now let's look at this this area in here Okay, so we're right in the middle of it of the the top and the bottom of this move here So now if sellers can get down below here And a lot of them Then we're going to we'll likely see a move right back down to the bottom of this range or this liquidity down here Okay, and you can see this is we even look for our pullbacks and this kind of stuff here The pullback would be on the smaller time frame would probably be to this little area here And then maybe this little area here. Well, that's kind of where it broke out from And we've already gotten those pullbacks In fact, all right, so now we're getting more buyers. Yeah, we are So stop run to a little bit a little bit But uh, no it looks good Good buying in here. All right. Where are they going to go with this? Well next level Where's our next level? Well, this liquidity here Let's look at our structure as well also up here I like I like this area if they can go for this area up here just above 60 Now the liquidity's at 60, but if they can get just above it here See with it, this is where we we recognized earlier where the sellers took control down below these areas here Okay, so let's mark that up Right in here. All right. Let's see it. Let's see it buyers Right up to 58 And then maybe 60 See see this how this volume is different in here We saw the pop here But and then right after we're followed by more buying like this consistent strong buying This is a this is a bear. I'm sorry a bull flag Uh pattern, so we're already at 58. We're trying to get to 60 though And I think we can There's enough buying pressure in here Yeah, they're starting to follow up trickle up underneath as well Yeah, Doug Doug was also a big help on this move All those correlations guys, they're so they're so powerful. All right Let's see Does delta turning positive have a net effect on price action? So, yeah, the the the question here, um, uh, mcloco Um It's a great question The the it's the answer is You know, you're not going to like the answer Uh, but it depends on context. So for example, you might see a delta turn But what if price isn't Well, and then there's a divergence in that right What what would that likely mean? What it would likely mean there's a heck of a lot of liquidity getting filled And maybe it it absorbs all of that, uh, delta The buying or selling aggressor Right, and then if it can exhaust out and you get more more, um, uh Let's say it's buying into very high liquidity And it can't get through it Right. So a very very high delta But you know, maybe maybe you get even like a double top on that retest it And uh, there's still high liquidity there can't get through it And and now you don't have a lot of buyers on that retest In fact, it trickles back down and you get some sellers Well, you've got a lot of good information then Uh, that uh, yeah, it has the potential for for a nice reversal and trap volume A high delta that can't go anywhere. There's there's there's something to that. I mean Like what something's wrong Okay, buyers are back up here again And we're seeing a lot of buying so still looking for them to trade up into 60 here Guys look at the pullback as well see the pullback right here to the top of the range here Okay, so start to look at this in terms of your trading plan for pullbacks We'll cover we'll cover these these pullbacks more and more Uh, and uh, you know also look at the volume within these pullbacks. This is a low volume pullback Okay, there's more buying and then on this move to the downside There's less in here you can look at the CVD for example CVD captures that pretty nicely on these low volume pullbacks In fact, that's one of the things I really like using CVD for Okay, so 60 is transacting. It's already there So there you go. Now. Let's take a look at this here. We're looking at some, uh, spot gamma levels in here as well So we have a zero gamma level and then we have a level one here 44 71 for the spx Okay, so, uh, oh and delta just turned. Okay. Yep Yep, my global Yeah, let's we're still getting buyers above but but we want to keep an eye on this here. So, uh, uh, yeah We're starting to see like, uh, you know, here here's quite a bit of buying here and here, but look Did they how much do they raise price by not much? Okay So Now the scenario is this here's some exhaustion. If we get do we get sellers here though? And here see how they got exhausted down here. We need to see sellers down here really Well, let's look at a micro range or kind of more micro here So, you know, we we didn't get the sellers. Uh, we got buyers here now Okay, now they're gonna come back in. All right. So let's see. Do we get them here? Yep, they should be able to hit this 58 and three quarters Let's see it Do we get buyers up here? Not yet. Yeah, now we are Okay, so that's off forget it Um, so we're I mean we have to be very very quick on this stuff. Uh, when we start to look at these micro ranges All right, so we do we get more sellers in here again? Let's see Lack of buyers up here. Let's take a look There they are. All right sellers should be able to drop it Back down to 59 58 and three quarters They do they follow through there they go. Let's just cover this here. I I want to um Reading these things in here is not difficult at all Uh, and then looking for that follow through is is really I mean, this is what we do in these webinars all the time So how how? How do we do it? Well, this is from our educational course part one Is understanding what makes the market move and we're just extrapolating that to bigger levels here much higher timeframes in fact As high time frame as the the daily or whatever a monthly chart could be could even work doesn't matter Same same principles Okay, so let's just start to scroll through this here. All right, so And I I want to mention this here in terms of like, uh, uh, what you guys think about this, um In terms of the uh volume profile Okay, because there's there's something in here we want to go through and let me let me get rid of this line in here This is just a distraction Um, this was our our pullback line, right? Or is that poc? Hold on a minute here and we could we do this all day long Uh, but uh here, let's just try to go to an area here and just zoom in I want it. I don't want to take the advantage here of like, I know where price is going um All right, so In in this move in here, we can even see like, okay So where's the majority of of the buy where's the majority of the of the transactions taking place? In this area in here What do you guys think? You on guys on youtube. Um, yeah, I I'll I'll answer your questions as well. It's kind of hard to follow two chats here. Um But uh How do you know if the resting orders are real or not? That's a good question, uh, alex Uh, do they transact? Do they poll? This is when they're tested This this is this answers the question, uh, you know, so Uh, even that higher term You know, uh longer term higher, uh liquidity level You know, it it may poll as well, but likely it'll stay In the book. It's more likely to stay. That's typically what we see so Okay, well in here What we can see is um The the buying is taking place in here. So, you know, we can even look at our our profiles in here It makes sense. We kind of have a p-shaped little little p-shaped profile in here Yeah, we have a fed speaker today, uh, alex. Yep Yeah, there's not much news this week. Um, we we got Powell speaking uh today and I think Wednesday or something There's there's not a whole lot going on, but this options thing is going to be really big We'll see the this really kind of change change the market. I I think All right now in here right now Uh, look at look at this the shape of of the the profile in here now I know it's only like four price levels here Does not matter You know, there's a skew here to the upside And uh, look at the selling down here So where's value in here was right in the middle More or less and and skewed here because of these these transactions up here So value is kind of at the high Near the high here now if we get a lack of selling and we get more buying in here Where do you where do you think we're gonna go? We're gonna go up here and test this level And what if we get a lot of buying up at this level up here? Because it's already a lot of buyers already transacted up here Okay, well best best offer will go up here and we got to see if we get more transactions We got one up here and that was it Okay, so we we're getting more buyers Okay one seller More buyers Okay, now this is this one's hard just someone came in and and hit the bid hard Okay, so trying to move it away from this this area here with selling Okay, now what about a retest in here? Here's our retest right here And this is like a double a tiny little double bottom here Once you know buyers come back up retest here. Do we get sellers here? One okay most is transacting in the middle here There's some sellers now they can push the bottom edge here now If we get enough if we get enough see the exhaustion up here Hey sellers sellers driving it away from this area up here Okay, now we need to see though Okay, so what let's let's see here. We got we're back into value here basically Makes sense. This is the the high volume. This is the poc of this little range Chart range Still transacting right in the middle right in the middle Nothing Okay, we get more sellers down here All right, so enough sellers they should be able to break it Back down. Okay selling more selling down here. Look at the buying up here Okay, so I would be looking for sellers to try to push it down into this liquidity here Okay, so now this is where buyers up end all of this They're back up here now. They're transacting up here now We have also the potential for a stop run And a short squeeze. Okay more buyers up here now. Okay moving it away from that area Here they go So we get enough up here at 57 and a half we should be getting we should get a nice move now We're getting more buyers more buyers at a higher level here More buyers up here again Okay, a little back and forth Okay, we get more buyers up here. Let's see it No, there they are. All right, so let's see the move up into maybe 58 now Almost not quite Here they go. All right looking good Okay exhaustion here, but let's see if we get it some buyers up there. There they are. All right, they should be able to push it And they just don't So back and forth in the range here But what I want to cover here is it see how you can you start to look at these these these areas here See your p shape here so You know, we all read in the in the the books on uh volume profile or market profile p shapes your p's and your b's etc It's because of this It's because of trading in these ranges more buyers at a higher level A values at a higher level so you can get price exploration to the upside here to try to break it and sweep the order book Okay, and kind of see what that if there is value up here And look at that look at all of that volume in here at this level here They should break this no problem. It should this should be a breakout And it's not much, but yeah, it finally did finally did Took a took a little bit at something like this though. I'd be looking for a spike Like we do in these webinars and it it worked, but it just took a little longer. Uh, let's see. Um Oh, yeah, okay. So we're talking about trading in here. Yeah, so look, um, there's a couple things about this being a trading room um God, I mean I answer this question so many times Uh Bookmap is a platform Uh, we're not a trading style Uh, and um You know, we're here to cover order flow And in fact, I mean these these advanced webinars here are to cover order flow at a very high level That can be used for any trading style So we're we're just covering like how to read order flow within volume profile and understanding volume profile Okay, once you understand that hook You've got something you can now trade you can come up with uh, uh all sorts of trading strategies based off of that So, uh, we do have live trading with scott pulsini on thursdays and j trader on wednesdays stocks and futures traders Okay, and uh, they will go through exactly how they trade Uh, and um, uh, there's other mentors they offer educational services as well We're not these are all free Uh, and uh, but the takeaway here is tremendous You know, you can start to really put these things together. We talked about all these different pullbacks. We should get a bounce here Why because here's where the buyers came in are they going to support it? Let's see the bounce Let's see it trade right back up to 57 Okay, that's that'd be scenario one Scenario two is well, let's see if we can get sellers back down here And we're not though. See we just what we just covered in that range little range, uh, uh Experiment here. See how we're not getting sellers down here. Well, we're going to find buyers instead and they're going to try to take it higher now We're we're and they were Now something disrupted that and it's this order book here 212 came in and look at the buyers. They took them on so great. All right. They should be able to trade now up to 57 Hey 58 And there's our move okay 57 looking for higher still look at look at the buyers up here as well Okay, so now do we get buyers up here though not yet Not yet And let's see if we get another rotation back up here now what what about the buying up here previously Hey buying looks pretty good in here And starting to pick up a little bit here And then here it's it's okay. It's nothing great though You know, we want to see like this kind of buying here over here and we're not we're not getting that right Okay, so now we're back down at the bottom here Yeah Do we get sellers down here? No, not yet not much Okay, do we get buyers up here? There there they are. All right, so they should be able to take it higher And they should be able to reach right right back up to 57 Okay, and then on this one. Let's see if we get enough up here to break through 57 Okay, not yet. There they are so they traded it There they go now that can they trade they should be able to trade it higher There you go beautiful Beautiful There's I mean this isn't a trading room, but boy, you know, couldn't that be useful? I mean, I I hope I hope so I mean, it's a Yeah, just just trying to help out as much as we can for you guys And I'll tell you I mean like um The um Oh good. Rob, you're starting to get it. Yeah. Yeah, just stick with it like uh And you know, I think I think understanding like you know, we started off with who's in control and look at this High consistent volume here to the upside. This is great. You know, this is what we look for should continue 64 Maybe we can get up to 70 This is this is a strong move You know, they're they're going to try to move it away from these areas in here All right now if we we're looking for the continuation above the swing here from here It looks great, but we want to see it above the swing And in this case here's in this swing here It's there's no question who's in control Above on this time frame and this swing up here. We want to see more buyers up here as well And you know, it makes sense that we're going to get kind of a slowdown in here Yeah, I mean if we took positions in here This has been my experience at least is as soon as we do something like that Everyone's going to be zeroing in on profit and loss And education is going to go right out the window So instead like just kind of In general, like we can wrap you can wrap a trading strategy around some of these things very very easily Oh, thanks. You thank you, uh, Renzul Yeah. Yeah, good stuff. Um, let's see Rob. Let's see. What else did you say no TA? Uh, trying to incorporate bookmark. Yeah. No, in fact, um, this is why, um You know the the education set up In in this manner that we have An understanding of these really what makes the market move, you know zeroing in like this See look at selling exhaustion exhaustion selling. Okay sellers. Let's see if they can drop it a little bit lower here There they go. There they go. We get pushed by the book too Do we get more sellers down here? Yeah. All right. They should be able to drop it lower Hey, there's some exhaustion. There's buyers. They should be able to test to seven sixty and a half No, they can't Let's try to see if they get a backup above this guy here No All right, they're gonna drop it lower All right, so let's see. Do we get sellers here again? No some Nothing now nothing Hey buyers back up here Sellers here. Okay I was about to say it like sellers in here back down at our level here looking for the drop um That's a that's a quick That would that would be hard to hard to capture Anyways, like go through this exercise here. I think it's a very very valid, uh A way to look at this and then and then like you you want to trade volume profile great You want to trade like patterns? Great Like you can start to look at these patterns here like here's a pullback To where they they dropped, you know, this is this is like a uh Well, you could look at a trend line pattern in in fact Okay, now look what about in a trend line pattern? Do you want to see like buyers? Break it here, but we also for reversal We want to see it above this swing here too, right? That's what we need to see our buyers for this to be a reversal pattern It makes sense though, too, right? We want to see buyers at a higher level here Not just retest up here. We want to see buyers up here We want to see lack of sellers here. Maybe a higher low in here Okay, buyers are going to go for it Right here 57 and a quarter And then if we get enough they should be able to break it 58 There they go and then see if they can even take 59 here Okay, there's a pattern right there and it's the order flow though. It's the order flow that matters It makes up this pattern And there's our move 59 Strong move 60. Let's say you can get to 61. Okay. Now we're looking for like a bear flag. I mean a bull flag. Sorry Said that like three times today Okay, strong move pull back strong move European close is coming up. So we're going to get some volatility here. All right So caught up in the questions here. Let's go to uh jump over to uh youtube um Yeah, no if you're looking at the symbol on um What symbol is this? This is I'm looking at rhythmic data for the futures. Uh the es Uh es m2. So we're on the june contract, which is the symbol m And then two is for the last digit of the uh of the year 2022 Okay, not much of a bear or bull flag fourth time But it's it's doing it here strong move Blah blah blah and then you know buyers again here. They should be able to break it Let If they show up, it's not that convincing. But yeah, I'm going with the upside here just on this small pattern in here Okay, it makes sense Oh, a look we are on the youtube live live stream right now Oh, I'm sorry. You're you're answering someone else. Okay. Yep. Yeah. Yeah, exactly exactly So if you guys are not able to um, uh Uh View the uh the the stream in here uh in discord. This is we outgrew our discord But uh, I can at least offer 50 uh in here and then the rest it will be on youtube live live stream So you can you can ask questions in here. That's that's fine Uh, there's maybe a slight delay uh over in youtube live stream So we're making that transition Let's see travis, uh new to bookmap and loving the platform. Excellent. Um, just found your channel and I'm really enjoying this content. Uh, excellent. Yeah, um Notice the bracketing in eth. Okay Yes, what determines how do you determine the direction when it is being pulled and when it looks like a bracket algo is running Those are kind of are the kind of make things a little tougher to read That's for sure and and that bracketing is um, let's let's uh Pull up the spy in here And uh and take a look do I have it up? I don't think I have spy Yeah So for example the way this instrument is used Now we gotta wait Wait a little bit here All right guys, so yeah, so here is our we saw this whole reversal take place in this um E s here. Okay on this small time frame Yeah, I had way too much Backfill data on that spy Sorry about that And it did turn into kind of a bull flag as you can see It just kind of slowed down. It's actually a bullish bull flag. Uh, there was very shallow pullback In this area here. So anyway, we were reading a pattern in here We we put up a trend line. We broke the trend line Then we had this little area in here and we're looking for buyers in here to come in and they did So, okay Great, we're looking for them to trade up into liquidity here in areas of pullbacks that we kind of outline on the way back up And you can see it slowed down up here It makes good sense Here's a transaction that took place. Here's a you know a lot a cluster of Selling or I'm sorry. It's a cluster of volume up in here and a structure uh, and it tests and back to that area And then we get enough bulls to trade back up to the top here and then it pulls back in here for a bit So let's just see if this spy is showing us anything here I I'm I'm sorry. I kind of screwed this up adding this in. Um, it's still importing data I have got a lot of data in here and I don't want a lot of data in here. Let's just close it down and And add it back Okay, so here here they're bracketed around around the price Okay, so the way that this you know The way that this instrument is used is it's heavily arbitraged and and hedged So we have a lot of players that are just kind of waiting Uh with the bracketed orders here. They're algos Uh, it's not there is no direction. Um, they're not really showing us any direction This is where we get some insight though is when they stay in the book like this algo kind of stays in the book here and does transact Uh, however a lot of times like uh, you know You got to zoom out. You got to put some data in here and take a look And here's where you get some some insights Uh higher longer term liquidity up here at this level 445 Down here at 444 and then also in here Uh at this kind of 44 75 level here Okay, and then we're going to look at the the volume in these areas same same idea so it's it We're not getting too much out of the bracketed orders except for when they stay in the book sometimes and transact And get a feel for it Other than that we're looking at the higher longer term Liquidity in these areas here Okay I hope that I hope that helps Well rhythmic is the data provider getting it from the exchange. Uh, who was a um, so as though if you wanted to go to auction auction market theory and and uh Uh, I mean you might as well just go to some of the old um, the old guys, uh, uh, you talk to uh, or look up, uh Uh Stadelmeyer Dalton Etc just do you can do a search for it. You're you're going to find all sorts of stuff But I would recommend like Just go to go to a part one of our educational course And uh, it we're going to cover exactly what we're just going through in here You know why we saw this what we were thinking Uh in some of these moves in here, et cetera reading it on these smaller time frames and extrapolating that into a bigger time frame Yep, thanks alan there's alan put a link in there for you guys From uh, Stadelmeyer All right guys, it's 11 30. So we've been going for about an hour and a half. Uh, let's let's wrap it up Thanks for coming everybody and uh, look for tom b. He'll be on uh shortly and uh, Talk about auction market theory and volume profile. Uh, he will cover that sozo. So uh, check that out Uh, and uh, you will catch up with you guys tomorrow. Okay All right. Have a good day everybody take care