 All right, welcome everyone, I'm John Slazas from Dharma Capital Trading and you can follow me on X at Dharma Capital Trading, check out our YouTube channel, if you see something there you like, like it, share it, we're on Substack, we're publishing a weekly outlook every Sunday evening, so you can go to our Substack Dharma Capital Trading and get access to that and this video is going to give you more insight to how to apply that, those analytics and then you can post questions in my bookmap discord as well regarding anything on bookmap and our integrations with them. So we're all about fact-based trading and fact-based trading involves making decisions based on objective data and analysis, reducing speculation and subjective biases. So we all have these, you know, cognitive biases that can influence our decision-making process and having a statistical baseline can give you a fact chest for that, you know, you got a benchmark. You have an opinion, how does that relate to the facts? When your opinion is in alignment with the facts, it's time to leverage things up, when it's not, it's time to back off, trade smaller or don't trade. But having that baseline, it also helps to slow down, you know, instead of just always being in that reaction mode and you're just firing away and then all of a sudden, you know, you put yourself in the situation you didn't want to be in, you know, this is a great way to, you know, kind of slow that down so you're making informed decisions. And that's going to improve your confidence too when you do that. What Dharma Capital does to help you do that, we, you know, we check out our analytics, you know, this helps to standardize your process and we're going to get into that a little bit today. And our, you know, we have integrations with different platforms with bookmap so it can normalize your workflow, you know, get the analytics right in where your eyeballs are at. And then we, we do do more in depth training in our virtual trade room to help you optimize your own tactics. You know, trading is personal, and your success lies within you and the work that you put into yourself. You know, one thing you can do is register on our website and take our course strength assessment, then that that's complimentary. And that'll give you some good insight to what your strengths are, how, you know, who you are. I mean, you'll, when you read it, you'll say, yeah, that's me. But then how does that, you know, apply to your trading and, and, you know, are certain traits that you need to be aware of, because they could be detrimental to your trading and other ones that you want to leverage up on. But that's, that's available to, to anyone that registers with us. And our method is, is consistent. And that's what it's all about trading, you want to be consistent to be to create a sustainable trade plan. And our method, it's always the same thing. You know, we want to identify what the underlying context of the market is, what are the state characteristics, what's the baseline. And, you know, everything that we go over here today, you know, the whole, all the concepts that we were speaking about, these are all things that you can apply on your own. We're showing you the tools that we have and what we use. We make it easier for you. But the concepts are the same. You need to define an objective tool set. And you need to define an object, you know, objectively be able to identify what is the context of the market, what is the state? Is it trending? Is it non trending? Not a subjective bias or opinion from somebody else needs, you know, you want something that's quantitative. And then you need to identify, you know, where does that state change? Where are things, where's the condition going to be different? You know, if you're using the analogy of, you know, you're in a house, and you walk out the door, you know, that things change, you know where that door is, structure alignments the same thing, you know, at this certain points, price points in the market, conditions are going to change. And, you know, and how are they going to change is what's important, what's the expectation. And so this is all about fact based trading is aligning yourself with the probabilities, what's more likely to occur. That's, that's what it's all about. You know, always be in alignment with what's more likely to occur. And if and or at least understand if you aren't, and then adjust your risk management, because you know that you're playing with fire. And if you're over leverage, D leverage, you know, but understand the alignment. And then, you know, that's what it's all about having that expectation, you know, and, you know, if then if this happens, then I do this, what's more likely to occur. And when and when you take that approach and you apply this method, you're not reacting to situations, you're anticipating situations, you're prepared for those situations, you're prepared for all the adjustments that you would ever do because it's a complete playbook, it's a complete map of what's happening. If we do this, then this happens. If it moves here, then I do this. And so I'm going to go over that, you know, our playbook today. And, you know, you'll see posts from us on Twitter, or on Acts. And you'll see our, you know, our webs, our substack, you know, weekly outlook, you know, anytime we're coming into here, this is just to give you, you know, better insight to what are these qualifiers, you know, what does the greenlining mean? And how can how can that help you in your trading? And again, every concept we go over here, you know, if we talk about sentiment bias, we talk about alignment, we talk about context, we talk about state, these are all facts, you just you have to plug into your your decision matrix, you need these facts, you need to know what these are, you need to understand this stuff. So you either need it, you know, you do the work yourself, or you need to work with, you need to work with a third party like Dharma Capital Trading to provide that for you. And most of the big firms that they break, that's how they break themselves out. Anyways, if you're, you know, you know, a big fund manager, I mean, the late great Scott Minor from Guggenheim investments, he you know, he turned me on to Daniel Kahneman's thinking fast and slow. And that's how he based his whole investment process is he separated all his groups. He had, you know, he had one group that defined the strategy, he had another group that only focused on risk management, he had another group that did all the quantitative backtesting work, and then he had the execution group. And each one was separate. So in the execution group, you know, basically, there was told by and by this much, get it done, you know, today or over the next three days. You know, and the in the quantity of people would cut, you know, and they would have they would be on their own just saying these are the results and you'd have a portfolio manager that was kind of overlaid look things. But you know, when the risk management team kids comes in and says, we got to get out, then we got to get out. And it goes to the execution group. So you have this, you know, checks and balances, and everyone's got that focus. But as an individual trader, you don't have that. You got to do it all on your own. So you need help. We're here to help. We're here to provide that statistical baseline that that benchmark, you know, that fact check to support you and your success. So you know, before we get into it, we're going to we are going to go over some live market stuff. So I want to go through this disclosure, you know, futures and forex crypto trading contains substantial risk is not for every investor and investor could potentially lose all or more of that initial investment risk capital is money that can be lost without jeopardizing one's financial security or lifestyle. Only risk capital should be used for trading. And only those with sufficient risk capital should consider trading past performance is not necessary indicative of future results. You know, you know, we talked about touch base on, you know, personality traits and understanding yourself and, you know, how you deal with, you know, losses and risk capital is a big deal. And so, you know, if you trading with extended money is not the way to go and it's going to really mess you up. So, you know, really respect that, you know, because you need to be clearheaded to succeed. So this is our playbook. And I'm going to get into it now in the different sections and all just basically just all the components of facts that we provide, you know, we're just, you know, what we're looking at anything, the granularity, you know, do we go into, you know, understanding the different nuances, you know, with back to the analogy, you're walking outside in the door, well, is it windy out? You know, did it just did it rain the night before? You know, what what and what are you planning on doing? You know, you know, are you going for a run? Are you going, you know, down to the lake to have a picnic? You know, what what's the plan and what do you need? And, you know, what are the conditions? How are those conditions potentially going to change? What's more likely to occur? And how do I need to prepare for it? And that's what the playbook basically does. It's it's identifying that context. And to and to forgive you some structure, you know, so it get get to that if then situation in trading, you know, if it's this, then I do this, you know, so we so we have this hard structure that we can lean on as a fact foundation. And the first thing that we do is we, you know, we we identify that market state, you know, what is that underlying foundation of the market, market state. Today, we're going to get into ether, and if we have time, we'll go into Bitcoin. But, you know, so this is ethers in a bull trend. And so when you talk about state, and, you know, and you could, you know, what are some tools to define trend, you know, or a state, you can, you know, different moving averages, if you have, you know, you look at what the, you know, a couple of shorter term moving average, a longer term moving average, for instance, you know, that's going to give you some sense of, hey, the markets above both of those moving averages were positive, where it's below both of those, it's negative. And if it's, and if last price is somewhere in the middle between those, you could say it's kind of non trending, it's hasn't made a decision yet. So, you know, that's, that's a fact based solution. But it is lagging. And that's, that is an issue, versus, you know, the, some of the quantitative work that we're doing. But this, you know, as we define this market state, we're also identifying, you know, hey, you know, this is the, this is what your expectation should be. Positive trend. How do, how do positive trends, you know, perform, make higher move highs, higher move lows? You know, what's the structure of that trend? You know, this is where, you know, you're looking at, where's the alignment come in? Where do those, you know, where does that trend change? And, you know, looking at price action, you're going to look at the peaks and troughs. You know, quantitative work is a little different. You know, it's anticipating where those higher, higher lows should be. And, you know, it's not necessarily based on eyeballing, you know, price structure. This is market structure. And so, you know, understanding with the market structure is, you know, where is that alignment? When does this condition or this context change? And, you know, based on positive trends, you know, when positive trends break structure, they have violent corrective moves. So, we need to be prepared for that. Or, and at the very least, we want to be prepared for the market, if the market is breaking structure, that's not, we remove our hope that the market's going to perform like a bull trend. Because it's at, this is where these alignment points come into play, where the market's either going to persist and start trending again from this alignment or it's going to break structure and it's going to shift into some type of corrective sideways or potentially, you know, hard corrective break. And so that's, that's always what we're identifying. We identify that base context and then we're identifying this, the structure that defines it. And, you know, the main structure that we use and, you know, the red lines are, you could think of them as resistance. The blue lines are major, you know, support. We call this our critical range, which is really the foundation of market structure. You've got a midpoint within that critical range that the market will rotate around. But this is basically the area of indecision. And you could see how the, this critical range structure is defining this bull trend state. Defining the upper peak where the, you know, which defines where the market will break out for new impulse higher to higher move highs, or it's defining the, you know, the lower trough of where the higher, higher, low, higher, high campaign is broken. As we'll see as we get into more detail, you know, the, you know, you can see there's a lot of numbers here. Basically, you can look at this as a ladder. The market likes, you know, as the market trends higher with price structure. Same thing with market structure. It just climbs the ladder, climbs the steps. But the difference is, you know, the qualifiers and what it means and understanding that, hey, if we're outside this critical range, the market's making a decision and it could have a big move. And, you know, if the market's trading above the midpoints, you know, it's leaning to the upside. It's laying below the midpoints, leaning to the downside. It's going to stair step down one step to the next. And then we also, you know, we're identifying validation points. Well, if we do break out, you know, the market's got to validate above this price point. We call it critical range positive extreme. Below the, you know, downside breakout, we've got a validation point on the downside. So as a trader, you've got some insight to, yeah, this thing's validated. It's breaking out. I'm anticipating it. I'm in it. But now, but I'm not comfortable until it's validated. And then these are interior validation points. So as you're moving through the critical range to the next level. So again, you just stair stepping is the way the market goes. And we're going to, we'll see that real time as we flip to a market. But just this is just to really just give you a quick overview of the analytics so that when you see these images from us, you have some sense of what they are. So you can take advantage of those opportunities and to anticipate them and to proactively, you know, manage your risk. You know, the other, you know, so we've got the two, two points from the critical range upside pivot, downside pivot, and we have what we call our sentiment bias. And this is an overunder number. And so this is the main point every trade period that where all the liquidity is at. This is where the all the big money is focused on for that timeframe. Where is sentiment going to shift? And the thing about the sentiment bias is it's a little it moves around based on the state and it could be in different places. But it what it happens is it's going to change the context. So if we're markets in a positive trend, and sentiments below the market or in this position at the downside pivot, it's just telling us, Hey, it's in alignment with the structure. And in the playbook, we're going to identify that we're going to say, Hey, yeah, we're in bold trend and sentiments here. And so that's what that means. And that's so it's just giving more granularity to the context of the market. Because you know, sentiment and a bull trend could be in nine different places. And so if you're in a in currently, we're in this situation. But if we were in this situation, where we had sentiment above the market at the upside pivot, that's in comp, you know, we've got sentiment is above the market. So it's negative sentiment in a positive trend. So that's, you know, so that just gives you more insight as a trader, we're in a bull trend that might correct today. I need to be, I need to be prepared for potentially a violent corrective move, or a sideways digestion. You know, so, you know, if it is the market's challenging the upper structure of sentiment, you know, and you've got to cut, you know, you can sell some options that, you know, with the expectation, this thing's not going to follow through. You know, your expect you you've got thinking the market is going to you're selling calls here as a market's coming into this area, you know, we you've got a market, two things that can happen in your favor, you know, the market's going to fall back into a digest and go sideways, or it's going to pull back, because the expectation is for a corrective trade. And the same way is if you're in a, if sentiments way below the market, you know, that's telling us that, you know, the energy is way below the market. So if we're getting involved in a market here, we're getting buy signals, there's not a lot of energy. So you need to understand that that I don't want to press it up here. And if I do get a big positive push, it's more likely to have a pullback, you know, more that stop and go action. So just again, it's just comes down to just really having good awareness of, you know, where sentiment, how is that going to affect the state? And it's going to, and it's going to give us insight to that are we in this part of the bull trend, this corrective part, are we in an acceleration part? Where are we? Where's the energy? So I can, you know, align my size management for the opportunities. And along with the market structure of defining those alignment points, we also need to have, and again, this is all things, everything that we're going over here, it's obviously it's, it's being applied to our technology and what we're offering you and what we have to work with you with. And that's what it's all about. You know, we're interested in working with traders and developing them. You need to answer all these questions, basically. So these are all things that you need to understand, you need to define and have ideally have some objective resource to define it. And so one thing that our structure analytics do is we define we have reward metrics and risk metrics. And our reward work metrics, we use an acronym, average price map distance, APMD. And this is identifying the segment moves the market's trading in. So this is telling us what the markets paying us out. And I, you know, I, you know, I'll look at different markets and just search out, you know, that the APMDs of, you know, who's paying out the biggest, who's having the biggest movement? You know, ether right now is basically paying out $30 a move. So if you get into a trade in ether, that's what the market wants to give you. It wants to give you 30 bucks. So you want to take it, you want to take what the market gives you. And so you typically and we'll get into this in more detail as we look at the live market, you know, just to show you how this stuff works and show you these, these segment moves. But you know, at the very least, you're taking a half APMD out. So, you know, it's $14 and 91 cents. So basically 15 bucks. But you have to take that money when, because that's what the markets paying you and you and whenever you put capital at risk, it's exactly that. So you're at risk for a certain amount, no matter what, you just enter and you and you're at risk. And you're already you're already behind the eight ball because you've already paid, you know, whatever that spread is to get into that trade. And so we understood what this gives you, it gives you insight that you know, before you even do anything, you have an expectation of what the market's going to pay you. And so again, markets going to trade in half full and times to segment moves typically. Absolutely, you can have event situations where it's going to trade three or four segments. But, you know, this is typically your, you know, if you're going to standardize your approach, that's what it is. And you standardize it to your to your state. So if you're in a positive trade and you're in a long position, you're going to go for, you know, two segment moves that say, and if you're in a negative, you know, if you're in a sideways state, you know, so if you got a positive signal, you go for two APMDs. And if you're getting a sell signal on the bull trend, you're going to go for one. It's simple as that, you know, just gives you some expectations. And then we define the risk that you need to take. So we've got a few risk metrics. The variance is basically more of an entry level metric for the zone, the boundary around a price map level that really is like at the level. That's the choice area. If you're always trying to put your entries right at a price point, you're going to miss a lot of good opportunities, but you're going to participate in all the losers. So you need it. So this identifies that kind of that, you know, sweet spot. And then the alert distance is going to show us, you know, which is around $4 right now, $4 and 17 cents. And ether is kind of the, you know, area of signal acceptance around a price point. So this helps to identify, okay, well, the markets within $4 of that area, and I'm getting a trigger off one of my, you know, systems, or I'm getting, you know, just what I'm seeing something in the order book, as long as where I'm in that alert distance, I'm all good. And then, and you can use those to, you know, so basically, if I'm, if I'm using the alert distance as a risk parameter, you know, I can risk one alert distance to make a half APMD and, you know, I'm at a three to one risk reward ratio. So it's all good. You know, and that's what we're looking to do. Just always put ourselves in situations where we can lose more, lose more times than we win and come out ahead. And, you know, psychologically, you see, you know, see other systems that today, we, you know, we've got, you know, 99% of the time we win, but they're, you know, they're making a tick and then when they lose, they're losing, you know, a thousand ticks, you know, and so they just kind of blow themselves out. So psychologically, it's easy to handle taking lots of winners every day, you know, for a month and then blown out the last day of the month and giving it all back and starting from scratch. So you need to flip that. You need to risk a little bit, risk a little bit, risk a little bit, make a lot. And that's what that's what these risk reward metrics help you do. The goal here is to create, you know, a structured approach by standardizing your trading methods to the structure that defines the market state alignment, you know, focusing on alignment and standardizing your tactics to it. So we want to conform our tactics to a standard. We want to have a line ourselves with what's more likely to occur. So if we're in a specific straight state and we identify the structure of that state, then these are the strategy themes we want to look for. And again, you know, this is things that you need to define for yourself as you identify context and the structure that defines it. What's the obvious and logical opportunities for that state and structure? Well, in this situation with the sentiment at the downside pivot, you know, buying a break off that level is the best opportunity because this is risk. Sentiment is going to change here. It's no longer going to be a bold trend. That's not going to be true if we start trading here. We're going to be in some other state. But as long as we're holding that structure, it's all good. And we might, and if we're ever to enter near that area, it's the least amount of risk for the biggest amount of reward. And the next best thing is to, you know, get this trade on and then leverage it up when the market goes through the midpoint or what we call our directional. And so, you know, it's obvious, but it's something that you need to take a fact check and see, hey, yeah, because of this state, this structure, this is what we do. And we break it down into what we call optimal themes. So optimal themes are when the market's performing to the expectation of the state. Those are the best. These are, you know, these aren't the only opportunity. It's more of a theme. So, you know, you're looking for if the market's in an optimal theme, it just means that it's performing to the expectation of the state and we want to jump on a positive train. And then at the market break structure, we want to, we have some, you know, what are some potential strategies that are going to benefit from a shift in or a transition in state? You know, if the market breaks out to the upside, can't hold it, and gives us a false breakout, it could be a reversal signal. You know, that's it. That's the initial tell of it, you know, potentially top in a market, right? You get that capitulation at the top, reverses. The big thing about having the price map structure is that you have not, you're able to anticipate that. And you know where that is likely to occur. And so you can be ready for it and you can be ready for it in the microstructure in the order book to take advantage of it. And then, and then, you know, the optimal thing here, the the biggest hedge opportunity is we get this reversal signal and the market breaks structure here and it just goes. You know, and so if the market breaks structure below sentiment, it shifts, it shifts the market out of a bull trend and into some type of corrective trade. And so those are our hedge themes. So we haven't, you know, is the market as a trader, you're always identifying for the market, is it performing to the context of the state? If the market is context of the state's bull trend, does it look like a bull trend? Are we making higher move highs, higher move lows? Is the market gravitating higher? If it's not, then there's, then that's a problem. Then it's, that should be a light that should go up and say, the market's not performing to the expectation of the state. Is it a whole structure? It is. So maybe it's just digesting. Is it breaking structure? That's a different story. And if you're long, you need to understand if the market's breaking structure that you need to do something. You don't, and hope isn't the answer. So you need to, you know, this is where the fact checks come, come into play. You know, and it's, and it's, and also on signal acceptance. So, you know, if the market's breaking structure and you're getting a buy signal and you're anchored on the market, being in a bull trend, but the structure line, it's broken. You know, that's where the fact check comes in as well. Because it's going to, it's going to, at least, ideally it's going to at least die you back on how much size you put on that trade or, you know, tell you, hey, this, this, this signal is not in alignment. You know, I have to risk a lot less. So that's what it's all about. Identifying context. That's, you know, that when you're setting yourself up to trade every day, you know, you have, you're, you, you're coming in to define what the context is for the day. Are we in trend mode or non-trend mode? What type of trend are we in? Is it accelerating? Is it digesting? You know, are we, you know, what is it? What is that? What, what's that underlying foundation? What's my expectation on that behavior and is the market behaving like that? And then understanding the structure, where's the alignment points? So that thing's going to change. And because we're in that alignment in that state, you know, what are the, what are the optimal and head strategy teams? And so, so now you get to work. You know, now you've got your alignment. So now your expectation, you're coming into the trade day, your expectation is, OK, I got positive structure. I'm expecting short pullbacks that aren't going to fall through. And what tactics do I want to do? Well, I'm, you know, trend-following tactics and I'm looking to accept buy signals, you know, and this might not be the only things you do. You might see, you know, some choice thing that comes up long and you want to just take advantage of it. You know, the market gets out on alignment and you're going to scalp around something, but you don't lose sight of the fact that I'm buyer, I'm a buyer, I'm a buyer above the structure point. And that's my story. I'm sticking to it. I avoid those, you know, even if they're little gimmies, a lot of times I'll just avoid them anyways just because I don't want to get myself stuck fading myself, fading, you know, get on the wrong side of what's more likely to occur. Yeah, I'd rather just wait and just, you know, and wait to trade bigger. So, you know, now you can anticipate, you know, I'm not now, I'm, you know, I'm waiting, I'm waiting for the what's the market going to give me today. And I know where I know where it's going to make these decisions and I'm anticipating opportunities. And I know that, you know, I'm not, you know, you know, if you use oscillators I just use this as an example. Yeah, I'm not if I'm not going to turn off all my tactic toolkits that are for non trend. It's not because that's not where we're at. And I'm going to turn off my, you know, my fade setup at the upside pivot, you know, and I'm going to focus on my, you know, by MACD. I'm going to focus on trend following. I'm going to focus on my momentum signals in the order book. And I'm going to look for those those signals in the order book. And when they and when they start to occur, I'm going to jump on them. And I'm also going to see that if they're not occurring, that that's an issue. And then this market might be in transition. And so again, it's just that it's just get that context is going to give you that insight to trade more intuitively, which is what it's all about. Because that's when you really succeed is when you are trading intuitively. And so, you know, now we're, you know, we're getting into the, you know, the kind of microstructure where we're going next is just to optimize, you know, we're going to make this as our trading is perfect as possible. We're going to we're defining that state we've defined the structure of the state. We know what the optimal themes are, you know, for the optimal themes and the hedge themes. And now we're going to, you know, now we need to get into the order book. You know, so we have our strategy and tactic foundation. You know, we have our risk reward parameters. And now we're now we're in the moment in the order book in the order book reading tape just, you know, to identify is the expectation occurring? You know, where are we at? And as the order book is showing us that. So we have our macro strategy foundation. And we're reading tape in the micro, you know, micro dynamics of reading the tape. And before we go live, I'm going to I want to just show a couple examples of these major themes. Again, and these are these are the backdrop. So what your trading style is, if you're shorter term, longer term swing, position, you know, these are all kind of the same things in the, you know, if you're just on the microstructure, it's what's happening in the environment. But when you work with the playbook, we're going to identify a couple different themes of faith, you know, tactics, tactical themes of fade breakout and reversal. So we're either going to be fading momentum into a figure, we're going to be, you know, which is basically, you know, when you fade something, you know, market needs to be trading above it first, and then you fade into it. So that's an important feature of a fade is that the market was first in front of that figure, and typically by the metric boundary. So when we, you know, this is what we display on our integrations is these metric boundaries. And so, and here I talked about before is the variance is the optimal area. So not trading at the figure, but optimally at the variance, but really anywhere in this area signal acceptance for a fade. But the other thing about a fade, if you're fading momentum, what's important about fading momentum, the market should stabilize in front of it anyways, because you're expecting higher lows. So you're not expecting it to go to the figure and it definitely is and shouldn't go below the figure. And if it does on a fade, there's an issue with that fade. Because that's that breaks the definition. And again, that's everything that you know, whatever, if you're identifying a price point, and the idea is that you want to fade momentum into it, well, it should hold. And if it takes it out, that's a problem, even it takes out by a little bit, because if it's really a good one, which is the only ones you want to be, you're always looking for the market to be perfect, because it is perfect. And when it's not performing perfectly, it's telling you it's doing something else. And so the other strategy is a breakout. And the same thing on a breakout is to be a real true breakout, the market needs to start below it. So it has actually two alerts. If the fade has one alert needs to be in front of it, a breakout has two, it's got to be, you know, and then a positive breakout, it's got to start below and breakout above to give you that energy. And then, you know, and then typically the best breakouts, they're not going to pull back at all, they're just going to go. And so, you know, if you want to get in to a trade, get in. And then, then work on your size. But get involved. And then, you know, so if you're getting involved here, there's no reason you can't put some extra orders down here. So if you do get that pull back, you know, and also did, you know, where has the market been? What's it done? You know, that what's happening in the order book, there's a lot of decisions that go into play here. But basically, if the market is really good, it's just going to go. It's not going to look back. And if it doesn't, there's a tell that this might not be working. And then the other strategy is a reversal. And so that has three alerts where it needs to start above, give you a downside breakout that's a head fake, and then, and then qualify, price qualify back above the metric boundary to say, hey, that we've reversed. So this is classic V capitulation signal. And again, this is kind of like a breakout where, yeah, it should just go if it's really true. And again, you're looking anticipating the signal acceptance within the zone. And on these trades, the market really shouldn't push through that figure. So just just a couple quick examples before we go to the lab market, just to kind of see how this all plays out where you've got a market. And you know, this is kind of a classic reversal setup where in the market starting below, you're getting this upside this breakout above the upside pivot. So it's moving outside the critical range. This is all good. You've got this beautiful trend markets make it higher move highs higher move lows. And then here break structure. It's breaking this price structure low here breaks the price structure low here. Now we break market structure we in this triggers a reversal. And you know, this would be a one APMD move as a target. A lot of times you'll have situations that, you know, a hedge theme will roll into an optimal theme or vice versa. And and that you know, this is an image showing you know, a breakout strategy that's more aggressive entry coming into a fade strategy that's looking at that kind of just fades into that whole area. But the big thing about everything that we're going over, it's just this is a unified approach. You can apply this to any market, any asset class. It's all the same thing. And as we talk about optimization and trade tactics, you know, that's you know, optimizing any of your trade tactics can be done or any of these themes, you know, with the dynamics of the order book. You know, looking for liquidity shifts, you know, where is the resting paper? Is there an imbalance? You know, what's the intensity of trade? You know, who are the aggressive aggressors in the in the order book? And where are those happening within the structure? Are there any, you know, large lot orders that are supporting, you know, a lot of liquidity supporting structure, you know, that gives you insight, this can, it helps to identify stop placement as well. And so we're going to, we're going to get into that now. But basically, as we get into it, the underlying theme for optimization is we're observing price action within market structure in the context of the market state and underlying strategy themes to gain a competitive edge and the ability to anticipate opportunity within the market metric thresholds during a dynamic order book events. So what's what's the how is the price action working within structure? So I'm going to take the structure off to the playbook, we've got historical here, we've got different asset classes. And we're looking at ether, you know, the color grid, you know, helps to identify quickly, you know, markets that are in different similar states and structures. So just, you know, going out, what's the context of this state? It's it's positive trend. So what I did is, okay, well, you know, what, what are some trending indicators? Well, here's a MACD and here's some moving averages. The other thing I'd like to do, you know, for fact based trading is timeframe structure. So before I even get into it, you know, how's the market performing basis yesterday's price action? You know, and so this is this has given me some insight to the previous days high and low and midpoint. Alright, so now, you know, we come in and we're identifying the structure. So we know that we're in a positive trend, structurally sentiments below the market. So we know that this is you know, where the real energy is. So as we come in the session here, the start of the session, we know that 1859 92 downside pivot is our where the big liquidity is for today. We put on the critical range. This gives us insight to where we're going to find some resistance. Where's that upper peak? And we have our rotational number that's in the middle of the critical range. It's not necessarily symmetrical. It's going to give us insight to okay, we're going below this price where we're looking to gravitate down to the downside pivot, potentially set up a buy opportunity. And or we're getting trained above the directional looking for a rotation up to the upside pivot. I showed you those validation points before and you know, we know, you know, context is bull trend. We're buying breaks. We're, you know, we can use, you know, here's a let me blow this up a little bit. We don't need this right now. We know our strategy themes are buying dips above the R level and pressing it above the directional. And our hedge is if we go below the R level and if we get a reversal up here, so we can take a look at the order book and see how these this stuff all played out. You know, so the first first four hours in crypto is what I call the opening phase. So the market's making a decision and it typically likes to, you know, kind of press it to the upside of how far the bid is going to take it preceded the downside. How far, you know, the offer is going to take it before the market kind of makes a decision. So the first four hours, which, you know, here, UTC time four AM, you know, kind of gave us this opening range. But I threw some moving averages on here. And, you know, basically we're looking for the market to be trending positive. And we know that if we're below the directional, we're not doing that shrink this up here. I don't have all that data. We'll come back here. So all this stuff's not that interesting, right? Because we're not, you know, we're waiting for the market to get on a bull trend. And right now we know it's corrective, but we also know sentiments below the market here. So any sell signals, this is the low point, and this is actually our buy area. So do you really want to play that game of catching this corrective trade? Maybe you do it. For me, I'm more interested in just finding big opportunities and trading big on big opportunities, basically to have the biggest bang for the buck. And so, and when the things are most likely to occur and in a bull trend state when the markets are above their moving averages and the MACD has shifted and, you know, we're holding positive price structure and market structure, that's all good. Let's go. You know, and so waiting for those opportunities. So here the market is it's getting corrective. It stabilizes off this CR minus, which is a validation point. And this is this is a tell. You know, this this is a tell this happens a lot with a market to create a rotational trade within the critical range. And it does here. And then we start to, you know, now we're starting. Is this market going to rotate up to here? That is, you know, definitely a digestive strategy on the price map is that the market stabilizes. It's something that we teach and train on in our trade room. The market stable stabilizes here with sentiment, which is by break bias here, you know, it can produce a rotational trade up to the CR plus. And even if that's going to be rotational, and the session is a sideways trade, you know, this this this current opportunity that's happening right now, you know, this is a structure high point. And for a rotational sideways trade, and the market, you know, taking the market out by a tick here. And now we've got this little tick here. This is actually a pretty interesting situation. What we got going on in the order book. And we do see some liquidity building up here at the upper metric boundary. So basically, as long as the market's below 1906, we still haven't validated a breakout of this credit of this directional. What do we have going on though, we are in a bull trend. And this is just kind of a holding pattern for for a higher move. Because as long as the market is holding price structure, holding market structure, and that and you know, so then if we start to see some liquidity shifts here that start to support the market above, you know, let's say 1900 in ether, that's going to be the tell that we're the markets ready to have a big a new advance and have advanced targeting at least this 1919 upside pivot, if not the 1949 area. And so this is our what we call our daily structure. And before we go into more of the order book. So this is from our sub stack. So what you're looking at here is weekly structure. So the market in a positive trend weekly sentiments way below the market. And on a weekly basis, the directional, you know, the markets open up the directional shot up and validated through here telling us the market's positive. And then we had this, you know, big choppy action, which someone has to do somewhat with, you know, there wasn't a lot of there's no economic news coming out in the market. Hey, it's going to just wait for some news before it wants to make a decision. But the fact that it did trade above here was more positive. And you can see the price map distance, the average price of distance is a lot wider here, because it's it's on a weekly structure. So this this structure is not going to change for the whole week. And here's that here's the daily downside pivot. So let's put the critical range on here. And let's put these upside targets. So the daily structure is going to roll tonight at, you know, 12 am UTC time or seven o'clock central standard time is where I am. And so what I like to do is look for alignment. So I know that, you know, currently we're trading here at 1900, which is, which is basically the weekly validation number. And I also like this a lot, you know, when you see the higher time frames, the line with the shorter time frames, it's also interesting, because here you've got the higher time frame alignment with the UP and the UT one. And so when you have the weekly structure in alignment with the daily structure, it makes it much more powerful. End of the day, bottom line, you need you want to get clarity, right? So when do you when if you don't have clarity, don't trade when you get clarity trade. And so this this understanding the context is just to give you clarity, whatever you know, whatever you're using to trade with, you need you don't want to trade unless you know, you have good facts. And so what we know currently about ether right now is it's challenging this validation point faces the daily and it hasn't preached it. And we do know that the market did stabilize off that off the lower validation point. And so this is this is actually a structure. Let me pull the presentation back up here. This is right of our tutorials where, you know, the market will, you know, if the market's going to be digestive, and, you know, kind of waiting for news and starting to coil up. And, you know, so are we coiling up for a new advance? It's basically what the market's been doing for some time now after we had the big surge. This is if the market starts to tighten its coil what it likes to do it'll like to rotate within these critical range interior boundaries. And that's that's what's happening now. And it likes to trade symmetrically as well. So as the market tests this level, if it tests it, you know, pretty much to the tick, a lot of times it'll kind of do the same thing. And then we'll, you know, kind of end the session around the directional kind of team up waiting for the new structure. What's happening you know here, as well as you have this, you know, 1900 level is a big is the weekly validation point. And basis the weekly, the market's given us to tell that it wants to it wants to go higher by doing this. It's just a matter of when. And so, you know, this thing could easily squeeze back down to these areas here and not mean a lot. Because as long as the market's above 1841, it's all good. And you can see how the metric boundary for the daily, you know, our levels, you know, basically at the at the very top of this signal acceptance area, you know, today, we didn't get that move there. The market actually stabilized off the previous week's high. But we're making a decision now. And this is this, you know, so basically as long as we're, you know, if we can't base above 1900 and ether, it's just it's not happening today doesn't mean it can't happen. As soon as the market opens up this evening. Or, you know, if you do see the market start trading and basing above 1900, that's a signal to jump into look for what's happening in the order book on liquidity events, where are the aggressors happening. And when you see, you know, the market gain aggressive like this up here, that's going to be a good tell of an initiation for a new move. And if we can't base above 1900, what's more likely to occur is we're just you're going to see a drop back down to this area. And then it's bull trend by bright, you know, you're buying dips and you're buying dips above the directional and that's your story and you're sticking to it because if the market is really good, it's going to hold the VWAP and it's going to stabilize along this area. And we would anticipate to see some liquidity build up within this metric boundary area, you know, within here. If we can't hold that, we're, you know, we're setting up this and this would be something that would happen tomorrow. But it's not a time to be pressing it into the market validates. So it's the market can't validate above this 1906 level. It's more likely sideways and you could have one of these sharp, you know, sharp pullback moves. So you have to be, you know, so bottom line, your profit give back should be in place. You're, you know, you're, you're at heightened, you know, is the market performing to a bold trend? You know, if it starts to break structure or it's not, needs to really stabilize here and, you know, see liquidity shifts, see the buying come in to stabilize this thing to start building some, you know, holding this positive momentum. And if we get a break in structure, it's, it's a tell that it's over for today. You know, and we're, this market's just going to, you know, kind of digest and that's what this kind of current setup has already told us. I'm going to just, you know, just show you how fast you can go through this stuff with the right tools. You know, so with, with Bitcoin, we're in a bold trend. Same thing. Structure is different. Our levels that they directional, that means it's balanced. So there's no bias. It's, it's real dynamic. When you're doing the market, when the R levels here, it's markets ready to do something. You know, so basically what's the optimal thing to do, let's, let's be long above the R level. And as long as it is, let's roll with it. And if it, if the market can't stabilize above it, then, then we know this isn't true and we're in some kind of corrective move. And let's be careful for a potential reversal. So here we have Bitcoin. We had, you know, some, this is, this is what happens around the directional. It's, it can be choppy. The market, this is where most of the activities taking on, you know, taking hold. The market told us early that, you know, there's, there's problem with this bold trend because it's not performing like a bold trend. So it kind of teed up this early failure here, teed up this choppy action. So this is right off the opening range, opening phase. And the market had this rotation. We had, you know, basically it's telling us sideways. So even the current surge here, the wrong. So we can see the liquidity building up here, but this action here is telling us that this rally currently is, is more likely to stall. The market hasn't been really performing like a bold trend that should have just taken off. It couldn't, it couldn't correct. It couldn't like rally. You had a head fake here. You know, this head fake here is, is providing this excitement right now. So we really want to clue into, you know, what's happening here and what's happening here in the order book is that we're basically, we're getting some liquidity to build up at this metric boundary. And, you know, based on what's going on in ether as well, you know, the market's not performing like a bold trend, basically. So we want to be careful getting sucked into this, you know, this move. If we see the market able to base above thirty five thousand seven hundred, that's a different story because now, especially if we breach this metric boundary, because now we're, you know, we're validating so we could look at this as, you know, markets nonstop, right? So it's going to have go through periods of sideways and of trending. And is that it was this enough sideways for the market to start a new trend? And that's what we're looking at now in events are good. This isn't that it could have been a bigger event. They really get more momentum. But how do when do new moves start? They do start after an event. So we have a little bit of an event here with this head fake to the downside. So basically the focal point for Bitcoin right now is thirty five thousand seven hundred as to either the top of this inflection point or potentially the base for a new extension higher. And here's the here's the weekly structure for Bitcoin. So we've had a market that put on the previous week. We had a market that's, you know, basically rotating around the directional basis, the weekly. We took out the. Sierra Plus basically telling us that it's positive on the pullback. It couldn't get back below the directional the R level. I'm sorry, it couldn't. It it it retested and the directional and stabilized. This is also the previous week's close and previous week's midpoint. So you had good alignment with time frame structure. So it's all good. We just, you know, again, and here you have the alignment of thirty five thousand seven hundred. So getting a and this is out of the sub stack as well on our weekly forecast. You know, this price point the market needs a base above there. If it can't, we're still in this waiting pattern, but we're waiting for a rally. So are they going to suck people in here and then squeeze them near the end of the day or is this real? And we'll see that. We'll see how the market if we could see this a liquidity shift here in the order book and see, you know, see this kind of action flip to below the market. So again, it's it's it's always it's always a matter of, you know, monitoring price action within the context of the state and structure. That's what's going to give you the insight. That's what's going to give you the clarity and then using those the those structure points, you know, to to manage your risk to identify your opportunities, put yourself in alignment with what's more likely to occur. So if you'd like to learn more, you know, visit our website. You can register with us. As I mentioned and take our complimentary profile assessment and so you register, you take it and it generates some results. If and then you can reach out to me if you'd like, we can go over them. You can also follow us on X and check out some of our other YouTube videos on Dharma Capital Trading YouTube channel. As I mentioned, you can register and sign up for our weekly outlook that's published on Sunday evenings. This we're currently following Bitcoin and also at our Discord channel. You can leave questions. So thank you for your time today and I hope you find this interesting. If you do and you're watching this on YouTube, like us, share it and we look forward to seeing you next week in this channel and good trading. Cheers.