 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map and so We traders and welcome to live analysis Monday Tuesday and Friday. This is forward-looking live analysis So let me explain very quickly what our education is about here for those of you new to to book map here in our our Events, etc. And I want to show you a new education page. I think you guys will really like Anyway, so we have an educational course. It's online. All our education here is free and open to all This is kind of a new thing And then we have these live events To follow up to the education. Okay book map is a platform not a trading strategy So this is why we have these live of Forward-looking analysis events here to go through the education in the live market and apply it to the live market We do it Monday Tuesday and Friday at 10 a.m. We go through it in detail So you can apply what you've learned and this can apply to any different kind of trading methodology That is the key Many people or everyone trades differently. Okay, so therefore We're going to cover many different ways of trading and looking at and reading the order flow in the live market Then we have specific traders J trader stocks trader Wednesday at 10 a.m And then Scott will see a futures trader Thursdays at 10 a.m They're going to go through their very specific ways of trading And and they will be trading live now. We also have Tom B He comes in after this webinar at 1130 East Coast time and he'll go for about four hours in there four and a half hours or so Until the close and he's a volume profile trader And now he will not be trading live Like J trader and Scott, but he will be going through live forward-looking analysis just like I do Monday Tuesday and Friday at 10 a.m. All right, so very robust education all free Here, this is a really nice thing for you for you traders out there Let's go through some disclosures and we'll jump right in here 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 risk disclosure trading futures equities and digital currencies Involve substantial risk of loss and it's not suitable for all investors Past performance is not necessarily indicative of future results. All right, let's jump in Let's take a quick look and see what's going on in this s&p. We've traded up to four thousand Look at that back to four thousand just now and let's zoom out here Let's take a look at do a quick reading of the order flow, but I We got a look at the bigger picture. Okay. We want to look at the bigger higher time frame market structure. This is critical Then we're going to zoom down into More kind of nuances in the order flow to give us understanding to where price might be going. All right, so All right, let's Take a look here at what's happening right now. Well, we're still going higher here and looking for 05 next Okay, so I'm a little leery about this but the order flow is telling us so far. It looks like it wants to go to 05 Right, here's why we see the trading up here. It has not made a higher high yet It's just shy of it. So that's one kind of element. That's not for this going higher But we are seeing volume on the on the buy side here these green dots market buy orders Trading up here Okay, so that's good. We want to see it come up a little bit higher and then we're looking for our breakout So we're looking for exhaustion here Around and we're not getting it. You can see the selling coming in So it looks like they're actually going to try to take it down to 97 maybe 95 here Let's see and let's see if this is a if this is a false breakdown Or and it comes back in the middle of the range. Okay, or is it is it going to continue with the breakdown? Okay, well, we're getting our answer here. We're right back into the range here Okay, so again now I'm looking for 04 and 05 here to to trade We just need to see a little bit more above the point of control here Let's see it buyers Okay looking for buyers Okay, back up to here Point of control just and of this range just the most traded, you know level in the range Okay, where are the transactions taking place? Well, they're they're right in the middle here basically Can you see the distribution here? Yeah, they can't they can't do it. So yeah, so Here is the last stand for these for these buyers if they can get through here They got it right. We're gonna come up to the top of the range and further They couldn't do it then the sellers come come back in here in this case. All right, so So that's how this kind of little little tricky. I mean, this is actually pretty much textbook to be honest This is exactly what it looks like. Here's our false breakdown Here's the move back in the range back to point of control back to high liquidity in here And it tries to get through and it can't still I was still given these guys a chance here Looking for them to maybe bounce off of here and get back up here. They couldn't Let's see if they may do it again. Let's see if they can do it now Okay, we just saw the breakdown here a stop run here. They come again, right? So right here. Oh one there They are and let's see them move it. Okay. We're looking for oh four and oh five here Okay, there we go All right, maybe maybe oh eight maybe ten as well Okay, little that was a little tricky here That we had to break down all the way down here And then look for this to to follow through And now we're at the top of the range here and now we're looking for we've got a pull back here Still looking for more buyers up here And looking for a retest backup here to this kind of oh three and then looking for oh four and oh five And this is our under overline right here Just around four thousand right at four thousand And this is where there's liquidity here One buyers. Let's see it Let's see you can get right back up here oh two and then we're looking for a breakout here Not a lot of buying up there at all. This is not what we're looking for and They couldn't even make a higher high here. So not looking good actually at the moment Let's see if they if we we need to get the buyers back up here Around oh two there they are Now let's look for the buyers and follow through oh four oh five and We oh nine and ten here is really the nicer target Back up here. Okay looking for it and looking for a breakout now Hey, there's oh four Looking for more than that here There's a lot of buying in here so I think they got it looking for oh our oh nine and ten level here as the target Struggling up here. There's maybe this is a higher. We that's why we want to take a look at our higher time frame here No higher time frame. It looks pretty good. Um Let's look at a 15 minute chart here No, it looks pretty good You know, we're still actually looking forward to come back maybe back up into these ranges up here You know 40 35 or so Nice gap here beautiful gap in the morning Our chart looks good. Everything looks good here looking for the continuation. In fact Oh nine and ten looking for higher than that on this time on the hourly chart here in the middle We're looking for like 18 up to 30 or up to like 44 45 basically up into these wicks here before Why here this is where you the wicks it this is rejection This is where we found sellers and this is where the sellers here took it down to the downside So we're looking for buyers to retest it back up into these areas here to try to find more sellers Okay, so that's the primary scenario here and order flow wise Boy, it's trying and then it just it just keeps coming back into the middle of the range here And we're still looking for that to unfold here This cluster not looking too good Okay, this cluster looks good as we noted I don't see many buyers up here So this is kind of tricky If we can get back up here again though at o3 and we find our buyers. I think we got it We got our breakout here Okay, I'm seeing this little range in here. Let's see it buyers. There they are all right back to the top of this range here See if they can pull that off. They cannot pull it off. All right, we're gonna come back down here. It looks like 97 And maybe back down to the bottom of this range here. There's just we're not getting them. We're not finding them so Boy, this is gonna be a tricky session. I can already tell all right Well, we got some high demand coming in here look look at the order book here now This this is where we get a lot of insight. What is the reaction to this high demand? Hey, we didn't it didn't repel sellers Or or our buyers, I'm sorry. So now it's starting to It's the order flows dynamic. We're looking at a shift in change in here So what what's the reaction to this? This is the context that we always talk about Yeah, they found sellers. They took them on All right now. Can they follow through? Let's see if they come back down to 99 and Follow through back down to 96 then Hey, this is the event. We're looking at here the transactions into this 4,000 Now we're found out buyers. Okay guys We're gonna go to 10 or 8 or 10 here. This is really tricky stuff in here out of the blue. Someone comes in and moves it Okay, nice stop run as well Right and sellers take it right back down interesting stuff here on size both of both are trading with size here So a couple of big bigger looks like to me like a couple of bigger players battling out here I'm still looking for this oh eight ten 2040 those areas we outlined tricky tricky action here as we're waiting for this one one or the other You're gonna follow through or not here and and we're just not we're not seeing it yet God this looked really good for the follow-through. So did this over here. Okay back up to oh, too Let me get to some of your guys questions here Yeah, I'm looking at it too weak top You're talking about the delay and yeah, I know there's a delay in the This is the problem here like we'd love to have this only in discord the issue though is I That you know discord only supports 50 people at a time per stream per screen so And we kind of got around it by a hack of like having multiple people stream in here So you guys get access it's better because it's a much more You know it's real time Whereas there's a like a two second or so delay I think in YouTube And you know that's it's done by design. So it kind of buffers So, you know if you have kind of a weird or bad connection in YouTube it has something buffered Yeah, it's gonna be disruptive, but that's what this is the way to handle it. It really is. There's there's no way around it All right guys, I still like the buy side. I'm still looking for these buyers up here In continuation, let's see if they go for it here looking for them There they are a little bit a little bit now, let's see them They should be able to do this I think they've got the buying pressure at least top of the range here 05 And then we should get the breakout on this just because we have lots of buying up here lots of buying up here One more retest. I think there's an at this point. There's Enough buying up here in order for it to break the range and explore higher And you can see what happened sellers just came in and just stepped on it right back down in the middle of the range and That's been it so far Okay. All right sellers take it all the way back down here retest it. Jeez Really tricky in here bottom of the range Finding buyers back again Point of control just moved up for me as well. All right. Here come the buyers again Let's see if they can do it here. Now, you know, you can see kind of what's happening in here and once I Once we start to demo this You know, we have the stops and icebergs in here and let me let me turn that on The the the main chart here on chart because you're gonna see all these stop runs to the you know at these extremes here Yeah, there they are and So, you know, the market's probing testing these areas here at the extremes knocking out people Okay, and then coming to the other side and Knocking them out and then reversing coming back to the other side Someone's gonna take control at some point here. I'm still looking for buyers Here they go. Okay. Enough buying here to at least make it back to 05 here Just looking for that 05 All right now we we've looked at this multiple times There's enough buying up here to explore higher and we've got some people in here that sold especially here We're looking for them to get stopped out up here and I think we got enough momentum now to finally get to 09 and 10 here Looking for it. Okay. We're up at the top of the range still finding buyers You know, yeah, we're still looking for our primary scenario to play out Hey, there's our stops a hundred and seven hundred thirty six that is anticipated by this behavior on the other side of the range here okay, all right, there we are and Just about 09 looking for a nice move into 10 There it is Beautiful. All right Good Let's see it continue This is looking good There's a lot of built-up kind of pressure in here and looking for this to slingshot out of it up into 15 And this is strong buying and strong price movement at the same time. So this is good This is what a breakout typically looks like So we're looking for continuation up to 15 Slight pullback already and in moves like this directional moves like this I mean in this environment, you know, we've seen sellers come in and pound it right back down in Moves like this though, and they may we don't know that a Lot of times though these kinds of moves of sellers. They just they won't tangle with this They will wait until a higher price to tangle with this The momentum here is super super strong on the buy side So they just kind of stay away and we look for the continuation To to these higher levels of liquidity here And this the sellers aren't really engaged right now Now they kind of step aside and wait So this is how you get these beautiful bull flags just like this unfolding right now Okay, any any questions on that like on unlike understanding a bull flag Got a lot of questions in here guys. Let me let me try to get through them Yeah, a lot on this delay thing. Sorry about that. This is just the way it's gonna have to be But once you're I mean that you're seeing the delay because Some of you guys are you've got one foot in in discord and one foot in in YouTube It'll all be real time in YouTube Relatively, you know, you'll just be it'll just be a delay for me to look for your responses Still looking for higher We might get a pullback to this liquidity here Seem some selling coming in maybe some profit-taking here We could even bounce off it here 10 or so But still looking good looking for our next level which we said was around 18, but they're up here around 21 That's really where they are All right. So again, let's take a step back. Let's look at our bigger picture This is a momentum move that we saw we have the gap up We have the gap up 15 minute chart here and we're looking for revisiting some of these areas up here All right, so that's the bigger picture here and we're just gonna stick with it until we see something different Let's just try to zoom in to maybe the 15 or maybe even make this a five minute chart here And then we'll look at just the day I don't like that That doesn't help us All right, let's try maybe a 10 minute chart and Look back. All right, not bad Yeah, okay, so here's another area kind of point of control or just you know We're talking about value in the chart here. What's the value of this instrument? Well, you can see some of the action from Yesterday this consolidation up here. I'm sorry two days ago Consolidation up here. So there's gonna be like a point of control in here somewhere around 20 21 or so And the wicks are up here. They're at the top of the range 38 37 To 42 somewhere around there So we're looking for that test up to here And we're aligning that with higher time frame liquidity the liquidity is here makes sense So we're looking for buyers to reach that area here And find the sellers up here a very simple kind of auction understanding here Where the where is the supply? It's up here. These are where the sellers are and we're looking for these buyers to trade it up to those sellers It's almost like Sesame Street You know, but here it is playing out, you know, this is you know, basically our auction market theory here that we're talking about and Just very very simplified understanding Twitch, I'm not sure Rob We're sticking with YouTube so far. We've never gotten into Twitch, but I don't know if it's in real time or not. Maybe someone can Answer that one Imagine it's probably delayed as well. We can try it Not delayed I think Let me see if I can get to that hold on All right, it might even do this on the fly here. I don't know if that's possible Yeah, hold on No, it's not possible. So, okay That's that All right, guys still sticking with the big plan here the bigger picture the momentum move here Just going with the order flow Looks good for 20 Still looking for it here. We had another pullback as you guys can see this was the tricky action in here many times over This was the primary scenario though and You can see like this is why it's tricky because we're looking for timing it getting jumping on the you know getting a ticket to ride here on the train and It just keeps on going back and forth and back and forth and we're looking at the buyers up in these areas here Looking for the follow-through here. It looks great. Also here. I thought they had it And and even in some of these little areas here It's like well Are you guys going to go for it or not and just just looking for top of the range first and then the breakout Into nine and ten up here You can see what you know, this is that kind of this happens again and again to is to look for the Kind of false breakdown here back to the range and then the follow-through We were looking for that here It's like almost this was like this was textbook in fact This is what it looks like it just didn't follow through Is that here's our range? Would have been better if these we mentioned it if these two were up just a little bit higher couple ticks higher And then here's our move back to point control And we're looking for it to follow through to the upside because it's already broken down here and Then what did it do it had it broke all the way back down to where this move initiated and broke out from retested their buyers came right back in Typically, this is where you'll get the follow-through Typically You'll have to do your studying on this and this was tricky, but here Back to here point of control or most traded level in here The quiddity was already here and we're getting buyers above it great. This should be the breakout here it pulled back to test kind of this area now and then finally it did and And then we're looking for it here as well And this is where it got tricky With all this kind of back and forth and noise in here And then big buying looking again for it big selling coming right back in it was a battle It was a big battle in here And when one more here and then finally finally back up here Point of control actually even Let's see what it was it exactly. It's right around here for Yeah, 4040 one It's above it buyers looking for the top of the range Traded to 05 Buyers are up here looking for the follow-through finally. We got it is tricky That was a really it it it did it three four five times before it finally broke out All right, so let me let me get caught up on YouTube here lots of lots of questions in YouTube Yeah Pedro it does it looked fishy here Some of these lower highs in here, this is why price even even a few ticks or two I've I have found you You know you'll have to kind of do your own Research and do diligence in here, but I have found even if it's a tick or two Not an equal high if it's a if it's lower in here this kind of stuff can happen So you know we Keep it keep it in mind look for these things put that into your plan just a note To build out your plan that you want to see it at maybe slightly higher high up here or equal Okay, not lower and not consecutively lower here This one is a little bit lower than the first one and we're still looking for this to go up higher here Wait, it looks like I'm not getting any data here No, I am okay Looks like I was cut off for a little bit Yeah captain price on that was that was that was crazy randomness in there really a fight back and forth Yeah Pedro I'm with you Well, I you know In my plan It's worth going for some of these in here to be honest and It it the order flow looks pretty good It should do it or is what I find and And then it just like they just slam on it and You know what what happens to me is like I take cuts throughout here You know two three times like trying to grab this here But you know stick it stick with this what you know read the order flow and if the order flow shifts and changes in here That's something else so you can consider it but Okay, we're having some inconsistencies here with the MBO data from rhythmic So I don't know if you guys are getting that too, but I just sent the error report So so anyway, like you know, you got it like take a step back re re-evaluate in here And what is the order flow telling us in here? And we still stuck with the kind of primary scenario in here These were quick dips and then move right back in quick dip move back right back in so Yeah, even this one here was actually a little more than a quick dip. This was like Try and then it made a lower low in here. It still did not come down here yet to 95 But this was one more push didn't find enough sellers and then we find the buyers take control up here And it was the primary scenario going with Our bigger picture that was the thing here the key go with the bigger picture here Nice gap and we're looking for this to gap and continue Revisit the gap maybe later, but we're looking for this momentum up into previous sellers from the other day That's the primary scenario here All right, so anyway, just trying to get Revisit some of these main points in here Good morning Leonard How to read the liquidity on the offer? Okay? Yeah, I'll go over that. This is this is about the Covering about that the this context here, which is always a tricky thing for for traders like and and to keep you know Relying on context here So so here here isn't an you know, like Scott says these areas are magnets. Okay. That's a really great simple concept to understand Longer term high liquidity are magnets if Buyers want it Okay, so Well, you know, why wouldn't maybe some of these other areas on on the on the offer be a magnet You know like maybe down here maybe here four thousand so the Now or longer term liquidity, you know down in some of these areas here so you know the The the main point here is a lot of times you see it better in stocks I think let's let's we have Twitter. So let's take a look here. This is gonna have this can be interesting day in Twitter You know why not up here, right? Well, you know, why is it? And how is it reacting to this liquidity here? This is the key. It's like yeah, it's a magnet if buyers want it Now in the bigger picture typically they you know, the the market understands this is where buyers are 70,000 70,000 shares here 58,000 shares down here at 35 So now do sellers want it well, we're getting our answer here. No not not yet Not yet at all. I mean if they did well, they traded into it here a bit But that's been it So You know are they are we finding some sellers going after this as a magnet? Not really. No Not right now It's repelling the sellers. This is this is like Now it you might argue. Yeah, this is true, but it's it's like It's high liquidity, but it's not longer term liquidity. Okay. They came in here I'm just after or right around 930 So anyway, it's it's about the context is the the The answer here or the the simple answer is understanding the context of it Do do the sellers want to meet these buyers the demand here of these buyers and right now the answer is no Okay, so we're looking to see if maybe there's buyers up here top of the range at 41 and let's see if they go after this area here at 41 30 50 and 42 Because that's where the high liquidity is if we find the aggressors here the market buy orders the green dots Going after it and so far I would go with that That's what it looks like. They want to do The order flow is telling us that so we're already trading into 41 right now No one wants to take it to 41. Actually, there it goes. There it goes now. It's trading Okay, now can it break out of 41 I Don't know I don't see enough buying pressure yet and try to get up to the 41 30, you know So a 30 cents move here Okay, so Leonard, I hope that answers some of your questions about reading the order flow in the range a great exercise to do for this and understand it is to What we can do in here is we can take a volume off All right, and let's let's do that. We're gonna take volume bars and and volume dots off So we can't cheat at all in here And we're looking at what's the reaction of price action with liquidity see how there's liquidity down here It looks like sellers are going for it. Okay, great Then I'm looking for them to take it down here. They were finding the price movement go after the liquidity So let's see. Let's see them trade into this these areas here And that's the context right now. It is at this is acting like a magnet right now And now it did fill high liquidity here Okay, now here see how this is all disrupted now see how this this player came in and now what's the reaction to this new context We were finding it repel the sellers sellers Doesn't look like they want to go for it. No actually actually now there they are they are trading into it Okay, this liquidity here Okay, so sellers then you should be able to trade into it then Let's see the transaction. There it is. It's starting to starting to trade into it. You can see it and There there it goes. Okay. No, there's actually a flip of the order book as well And now what was on the bid here is now on the offer at the same price level That's a that's an order book flip. It's not much of a flip to be honest It's not a really good example, but I mean it's not the same price level it visually. It's not a bad example. It's not very good example for Understanding direction here is what I'm trying to get at potential direction here Okay, so sellers are still going after it here. They tried to repel it here. They traded into it though So there's still sellers in here. They want there. They aren't trade trading into ten And see if they go for the nine or eight seventy five here Okay, so just reading the context here. Are they interested in this? How does this affect the price action? Just price action Okay, now note note. We're starting to see some Some buyers start to come in here. They're moving away from this area here Okay, Janna. We're talking about imbalances as well right now Okay, so the sellers are going for it, right? They're trading into this eight eight seventy five here What does the iceberg indicator mean? It means it's a it's a hidden order. It's not in the order book Okay, so there they go. They they trade it into it And look at some of the action here on the offer coming down at lower levels here as well Okay, now we're gonna get some more information here. See how they just came in and they got really aggressive in here Started to trade into this oh seven. See look at the sell-off now and see see how the order book kind of flipped in here See how they're coming on the offer at lower levels and what's the context now? Is it repelling the buyers and instead finding sellers here? Yeah, so far that seems to be the scenario here. Okay, so now they've come down low enough To find some aggressors and now they're starting to pull over here All right, let's see if we get we'd be looking for a green dots right around here to see if they can trade it back up To oh seven and and maybe oh eight here or eight seven five And maybe we get more demand on the bid here And it's not it's not the case they're pulling actually here and they're adding on the offer and we're finding our sellers So it's still going lower still looking for this context to go lower And trade maybe back down to the figure here lots of liquidity down here between oh two and and four thousand Yeah, there we go. There's a little more on oh four And yeah, so there we go. Oh, too Just does this Does this make sense to you guys? Is this a really foreign to you? I? Really like to get some some really good feedback from you on this one We've done this for years now this exercise to try to understand if this, you know, how this liquidity What's the reaction to this liquidity? What you know, please give me your pleading for it your feedback here The one the one thing that I find That can be kind of tricky in here is when we add the volume Now we have three a context of three different things price action volume and liquidity and Adding that third element can be really add a lot more complexity But it's something we just have to train and get used to see see it right now with two elements It's pretty it's a lot easier. I feel that's the only the only thing that I can think of Because like right now well, here's the reaction, you know What's this liquidity at o2 at a higher level here at a higher level? It's not this was the opposite of what we're looking at before So do we find sellers trade into it? Yeah, we did with they just traded into it. Okay now There's our event. What happened after the event? Well, we're above it. Okay, great. So we're looking for buyers to come up to o6 and a half now Look at look at the reaction to the to the bid see the bid bidding up in here So now we're getting kind of like kind of a shift in a flow of reversal type of activity here You see how they're pulling now on the offer. They're adding on the bid here and price Seems to be repelled by the Liquidity here on the bid so we're looking for 10 back to 10 Okay, because that's where the the magnet is and and they want it. There's your context They they're going after it. They want it and we read it in here on the low time frame on this It's not much of a higher time frame, but on the higher time frame. This is acting like a magnet up here this 10 Right now Ramirez. We cannot see exhaustion or anything in here exhaustion is by the aggressor only Okay, so we're just looking right now at the we'll cover it. We'll cover it in a minute here Okay, MC local there might be some sort of liquidity issue in or Okay Yeah, I did George. I did have some sort of data issue you in here with with it in here Really, I think it was a rhythmic issue at least the error message said it was an MBO data And I had a stop there I was not receiving any data for a minute We kind of found a way to overcome it really really smart programming To be able to kind of Otherwise this may have frozen up Used to in the past or used to have issues Or really weird delays So we found kind of ways around it So we kind of floated through that without any issues here not much Uh monkey, but yeah, you'll have to jump over to youtube channel. Um, you can Uh, certainly add your comments or chats in here in discord, but uh, you can also do that over in youtube Okay, I'm that's that's good to hear. I well, I I still I guess still get the same comments from like, you know I'm so bad or rob allen mc loco and and Uh, uh techie girl that it makes sense. You're understanding the auction in here Based on the supply and demand and price action only Uh, but you know, this this will this could You know change change your life basically like uh, starting to understand that that auction process in here Let's see how they're coming in with high look at you know, and you will even kind of put more, um Um Understanding into this and you would do the same thing if you were a big trader. What would you do? You would test this market What if I throw it if you have a ton of money? Um, you know, you can throw in some high orders in here and see like, hmm. What does the market think of that? Uh, and um, uh, then uh low volume pullbacks. Um Well, I don't have volume in here right now techie girl, uh, so, you know, what does the market Think of this and you would test it and you know see like, okay Well, maybe it will fill me on the bid down here. Do I want to get filled is the question If maybe there's a kind of shift in market sentiment in some of these areas here Right now and you can see how that kind of led to spoofing Uh, and uh all sorts of other kind of nefarious stuff But anyway, it's just it's still just getting a feel for the auction in here. What if I show more demand? What's the reaction? See how we got a shift in here and a flip of the order book they pulled here at seven and added here at six Okay, so yeah, it looks like they want to go for eight and let's see if if they can let's see if they're they see them Pull let's see see them go for 10 then 10 is the next one then So, you know these guys didn't really mean business in here. They kind of pulled their liquidity All right, we're finding buyers. So let's see them. Let's see the buyers now Follow through that's what we're looking for and we want to see them trade up to 10 And it's going to take a little bit here because they got a breakout of this range here So we need to see some buying coming in here All right, and so so this is what happened It kind of had to rotate, you know backed out and this now we're going to see do we find buyers up here And we're looking for the then the the move would be to the magnet up here at 10 Okay, see the shift see the shift in change in the order book there as well Okay, we're up at we made it up to 950 or 975 Not quite 10 yet All right, so anyway guys that that I think it's a really great exercise. I hope it makes sense to you Think about this though You know this we're going to take liquidity off of here now and we're going to shift the exercise I just think it's such a there's our 10. Okay, so I just think it's such a valid exercise Is we're going to take the heat map off. This is what we've been and let's take the stops and icebergs off here for a moment as well What we've been all looking at is some sort of derivative of this usually with bars Okay, with with some sort of bar data That aggro nice move here back on up boy Doing these exercises and we're missing out some of the price action here Yeah, all right, well we tested back up here to where it kind of broke down from so We really really have to find some buyers in here It's not bad, but I think we're going to get a pullback instead to back to this kind of 875 or so All right, and then we can look at structure in here as well here Bottom of the structure. We're already testing it So now the next move for buyers is to get back into the the kind of value area of this Range in here and that's the the point of control and it's right here at 15 Okay, so now we need to see buyers trade up to 15 and that would be the target Uh And it would be we're going to get more insight once we put the heat map on here Is there liquidity there not really? No, there is there's some I zoom in here. There's some Okay, so anyway, yeah, let's see if buyers we can reach for this area here at 15 Right now bigger picture This is also boating well now if we can zoom through 15 and just see buyers continue in here And then come right up to our original area or magnet up here at 21 or 20 Okay, after we've done this deep pullback looking for follow-through up to high liquidity up here Okay, and this There looks like the buyers have enough pressure here. We're at 15 right now Let's see if they can push it on through Okay after this breakdown here We see this just again and again the same same pattern our under over is right here They usually it's it's here, but it instead is here. You see the high liquidity the event The push and then here's the buyers back up above this kind of 08 area here The 0809 area was you can see this this is kind of an important event previously when we started the webinar That's where we were targeting And all that kind of tricky behavior in here And then now it's still the kind of area here where it broke down from And then it's breaking out from as well So anyway, let me take I want to go through the the second exercise here and we'll just look at And and to to make a comparison here This is the view most of us have been looking at is some sort of volume and Price action just and just that we never had liquidity before On the chart we'd always have it separated in and In the dome Okay, well now, you know with with book map and the heat map we we we've had it for years now where you can see it historically It gives so much insight so the What what is what what is the context of these two elements tell us this is like reading your market delta charts your footprint charts There's even more data in here a lot more data than your market delta charts Because you're looking at bar data on your market delta Okay, so let's go to a one minute here And you're looking at very specifically where that volume is transacting but on the bar Of aggregated data what happened in here like this little move up this move back down this move back up You don't see that In your market delta charts because you'll just see a bar uh, jana does liquidity mean the area where Stop losses will be triggered Um, no not necessarily at all stop losses is a totally different thing Yeah, exactly full monti. Um, it just means it it's very very simple Liquidity is just limit buy and limit sell orders. That's it Okay, it's your your it's it's just showing the liquidity where they want to buy and sell. It's the the auction And that's why book map works so well with auction market theory. It just dovetails so nicely with, um, Market and volume profile Okay, because it's auction auction theory Uh, and how better to go over auction market theory? By showing the auction right sounds kind of simple But anyway, uh, so let's just read the context of these two now without without the heat map All right, where's the volume trading? and Within the context of a range Okay, well, let's see here All right, well in this little range in here. We see the breakdown sellers took control here All right now buyers nice buying coming back up to the top here All right, I'd be looking for them to trade it back up to about here Uh, where it broke from here and buying looks good just looking for a follow-through for them to break the range here Break outside of the range because there there's there's volume trading up here So we'll be looking for it to trade up to here. We're just looking at volume though right now Volume and price range or price action Okay, so so just looking for it to trade up to here and there it is Okay, 14 uh 50 And if they can continue Then we'd be looking for next areas up here now. See you see how we don't have any insight in here at all with um liquidity We can see in the dome there's some here, but we don't see it on the heat map. There is no heat map right now So you don't know where they're trading into or how much and it's did it absorb. There's the transaction, right now you might think like You know if you're um Uh, just looking at volume. Oh great. They're breaking out. Well, that's not the case Why it just stopped this in its tracks is because of this area and they're still there at 14 75 look at the dome Okay, let's turn the heat map back on because we're missing a really important element here. There's the transaction And here's what happened after that event. It couldn't get through there. It was totally absorbed at this level at 15 totally absorbed That means that buyers Uh can't trade through these limit orders the limit Cell orders here absorb the buying pressure and what happened we sold off immediately back down here You wouldn't know that if you don't have access to the heat map Okay, now look at the buyers are gonna remount an attack here back to this 14 75 And you can see in the dome here Now they came in at 14 with high liquidity too. They just came in And let's look at the context See how see how they were here and then they they added more here at 14 And see the context Well, we didn't find buyers we found sellers And then yeah, it's just about to say then then if that's the case then sellers should be able to reach down here to 10 liquidity down here at 10 And they they just did All right, so anyway, I think made made the point here Uh Understanding these three elements is really where the magic comes in And no matter what you're trading Hey, we can look at candlestick, you know, I I like candlesticks um So where where where would they trade? Let's just dim the heat map a little bit. Where would they trade? There's a big bar here. Yeah, I'd be looking for them to trade on the candlesticks Back down to here 05 You know back down to these wicks down here So then let's let's let's look volume wise looks pretty good Heat map wise. Well, here's high liquidity on the offer Okay, now a little bit just coming in a bid now And they pulled here on the offer So we only the candle only got down to here. It still may come down, but uh Um, yeah, I don't know about that by looking at the context here of the Volume and the and the heat map right now. It actually looks like it wants to come right back up into 11 and then maybe even uh, uh 14 or 13 and a half up here See how they they pulled the liquidity and they're they're adding on the bid Okay, so then candlestick wise Let's see them get back up above this swing here on some buying Looks good. All right, so let's see them move it on up back up to this swing here Around 14 13 50 There it is Okay, now we're up in here in this previous wick up here. Okay. This is where we saw that that It looks like it looked like a beautiful breakout And and we know what happened. It was right into high liquidity Then there's high liquidity here on the offer and and price sold off Okay, so we found some sellers a little bit of a wick How does this work with forex? It doesn't uh, daniel Unfortunately forex is not very transparent in terms of market a market It's over-the-counter is Via, you know brokers that may or may not be taking the other side of your trade And then also with over-the-counter with bigger banks CME is extremely centralized or futures typically are stocks are kind of Are very centralized well, but less so. I mean there's many different ECNs providing the quid there's over-the-counter trades also in in Stocks so when you get your dark pool transactions They take place Outside the exchange and you might get like like a million trade like in twitter or something Like way up here out of the blue Okay, jang So lessons are clear good good. I mean um, you know once uh you know One I think Some of these concepts in here apply to your trading so This will enhance and optimize the trading tremendously. I mean that's the the idea here because we we see We have a lot more market transparency now By understanding these three elements in here So you know if you're is it likely that your candlestick is going to fail or break out or not Okay, so i'm looking again like okay, so candle coming up here great nice big green candle great looking for buyers then up here and then looking for the breakout into our 15 level and then maybe back up into here 16 17 okay back up into these previous wicks up here where we know a wick means like you know This is a rejection Okay, so finding a little bit we got back up here at the top of the range And it's kind of struggling, but let's see do we get a little more buying in here If we get buyers up here at 14 it looks really good For it to continue there they are all right. Let's see it continue now Now look at they got to get through these guys here on the offer And there's a battle right in front of us here I want to see these guys pull or at least find enough buyers to trade into and through them And i'm not seeing the buying pressure yet. So there's our heat map acting as pretty strong resistance there Here they go amount mounting another attack The attack looks good Okay, so buyers ought to take these guys on There they go now. Let's see them trade into and through it looks pretty good And then for our candlesticks. We're just looking for You know top at the top of the range is here First range. We're just about there. The second range is up here at 17 Yeah around 17 Hey now we can take a look at the bigger picture too This is a one minute candlestick chart bigger pictures back up into 2021 And that's what we'd be looking for No, the dark pool data will show up if you have mbbo data um bilgan so um uh The mbbo shows all transactions as well as the all of the best bid and offer But only best bid and offer All right. So anyway, we're talking about reading order flow in here, but we want to go deeper into this uh and um You know talk about also, you know potential trading strategies or trading uh management in here um Let me get to some of these other questions in here Uh mc logo. This is great. It's great to hear. Um that These webinars have been really helpful. That's this is exactly our goal Uh is we have the educational course and then the follow-up with these webinars Uh, and then then you can this will like just free you to be able to do anything Uh, if you want to you you just pick and choose what you want to trade basically Do you want to trade a volume profile? Well, then you look into it and put what you've learned in here into that uh plug it in Uh, and uh, you know, it should enhance your volume profile tremendously Okay, looking for the breakout here Volume up there looks good. We even have a wick there. There's buying pressure rejection here You know just by candlesticks. Okay, so just looking to see if we can get uh We did we got up here at 15 And we see good volume here And now it's a bit of a Kind of a stalemate here But yeah, I'm still looking for them to uh breakout up into our our higher time frame here is 20 21 Uh, is the a quick reaction to new liquidity a result of algos. Yeah, a lot of it is algorithmic Uh, it doesn't matter like you you just you know, you can still read the um Um Read the reaction to it It's still the same the algos are are just maybe just reacting a little much quicker But it's the same thing. It's just auction auction market theory basically okay, george, so Your uh rhythmic data you send an error report your irt is working fine. Okay But your book map is not I mean you saw you saw me have that error. Um, and uh, uh, it's been working working perfectly Yeah, I'm using uh brah. I'm using uh global plus rhythmic and mbo bundle, correct Yeah, exactly mc local you can kind of read the emotions in here, you know when we But uh, uh, and that was most of them were um Uh crypto exchanges where they had some issues Okay, george, you're back up and running no problem My audio is even choppy. Okay All right, so I guess then I guess this is a local issue for me. It's not it's not the data providers Hmm Um The uh, all right guys looking for that breakout even looking better here. We're back up again. We had to rotate again This is typical like kind of s and p activity here You know rotate try rotate try rotate try Even even this rotation my god It's even failing. Um I'm surprised like this this looked really good just like previously Uh when we started the webinar and and buyers are this is just turning into a big battle here Uh, and we're getting close to the european close. So that makes sense, you know That we're going to have this kind of battle back and forth here. It's it's not going to be easy. Um Uh trading here, I don't think still bigger picture. I'm still looking for our 21 level up here Okay, it might have been I might have cut out. Um Uh with I might have leaned back on the Um mute button here. So it might have been me Guys tricky order flow at this top edge here. Um Yeah I'm still looking to I want to see it trade 21 though That's the that's really the the bigger target here 21 after 21 I'm not so sure if it's going to make it up into the into the wicks here We just have to see if the buyers are still engaged Uh, we can look at our 10 minute chart here and you can see it's kind of slowed down a bit But still order flow, you know on these two charts here still look pretty good even on the daily here It still looks pretty good for it trading up higher Especially after yesterday's action. Look at the big rejection and wick down here Uh below what 39 100 You know 38 50 basically and then now the rejection and back up to above for 4000 Yeah, there's just going to be some volatility in some of these areas. There's a lot of emotions Going on and this is this is as you can see this is everything. It's kind of changed right here I mean you can yeah, maybe even say like even here, but like This is where I kind of noticed it and and now there's buyers or sellers there's buyers or sellers So here the sellers right trading back down. Let's see if they can trade back down the bottom of the range here These wicks down here almost got there already Um And uh Yeah, love to see them get down a little bit further here Oh, yeah, this can be this can sam this can this can apply to anything It's all really just different. Um, yeah, there's different players. There's different instruments. They're they're traded differently Um But uh, yeah, it's all the same It is they're gonna look they're gonna look different. Let's let's for example, let's make the point Okay, we haven't looked at nasdaq forever Uh, and it's just a lot more volatile. Look at the liquidity in here. We're looking at tens Right, so this can trade down too very quickly into some of these levels down here So it's a little more it's going to be more skittish Uh, and it doesn't take as much uh to move the market quickly Or we can jump that over to like twitter You know, so we were talking about 41 as being the magnet It sold off now look at it traded through it And traded up to these magnets up in here and never see how this did not work like a magnet See how this repelled it? So this is the context here to understand Just really it's so it's such an important understanding, uh To define these things it's about understanding, you know the context of them and what they mean to the market It it it's not a superlative. Oh, it always acts like a magnet Um typically it does longer term high liquidity typically does So, yeah, I mean this is not really longer term liquidity It is kind of for today, but like the longer term liquidity stays in there for days hours. I mean several hours, you know several sessions maybe Um, etc. So yeah, okay, if that's you know, how you want to define it then you would say this isn't really It's high liquidity and it's been in here longer term for today, but uh, it wasn't in here since the open Okay, these guys are up here at 45. They they're longer term liquidity They came in here at around 845 and they're still up here, but they pulled a lot here right at the cash open as well Well, they're still up here 36,000 shares up here. Right. What was it before? Uh, let's let's see It was 64,000 Right now it's you know, they they took about half of it off So anyway So maybe that's going to be the magnet 40 42 43 45. I don't see any at 44. Oh, yeah, I'm so bad like about, um, uh The more, um Data the better for stocks. So both najdak and edgex is would be the way to go Uh and mbbo That would be the way to go I know the data gets expensive But um, that that's the the best way to go Uh, you could always jump over to thinkorswim as well Okay, because the data is free over there So you don't have to to pay for data, but then you won't be able to get like sweeps Absorb that the drawback is you won't be able to get all the kind of like add-ons That you can't hear with the with the bookmap desktop version um Doesn't look like you know since I had that issue. This is kind of a weird one. Um Uh razor. I cannot add another symbol right now Uh After I had that kind of crash or issue there. So it's it's kind of weird So I cannot look at tesla unless I have it up here and I don't I think I closed it Yeah Huh, okay, youtube has had some issues as well So we don't know who's who's got issues here. It might be me. It might be Uh, rhythmic. It might be uh, it might be bookmap. It might be youtube funny all right Streams been good for you matt. Okay, just curious. Let's take a jump over and take a look at, um G me okay above a hunt above 100 here It's really the under over here 97 in the breakout up into 105 Back down to 100 now. It's below 100 Uh, thanks monica. No, I appreciate it. All right. Well, you know, we we went over a uh, some of the candlestick trading Uh in the s and p We can continue on with some of that A lot of people trade candles. Uh, we can look at indicators as well candles and indicators Uh, we can look at patterns Uh, we can look at volume profiles Your volume profile here Is uh looking like Well, it's in uh, it's it's at the the point of control right now Uh, there is a little bit of a skew here um That uh, you know, it's kind of a um a weak top meaning that That uh, it is likely to break Uh, because you can see it kind of explored down here And came back up into here So we're looking for a lot of volume up here to trade on the buy side And for it to kind of equal out and turn this into like a single distribution and trade up into our 20 level So that's what we're looking for Even in our volume profile and our candlestick chart. We're looking at the same thing. Here we go. Let's see if they can do it All right, so here's another rotation back up Um Your pattern looks good here too, you know, here's your kind of lows Rejection back up into here. Uh, it looks like a kind of a wedge pattern here Our candlestick pattern looks good Our volume profile looks good How's our heat map look? Yeah, they pulled here Our volume is looking good. We're looking for the breakout And we're looking for this to get skewed and up into uh and explore up into our 21 level So there's three four different ways of of trading and adding order flow into it to uh, uh, look for The move to unfold map hold all the way back Okay, see how I didn't really fill this this profile in It's not very equal So looking for buyers to try to fill this kind of area in here Okay, it broke out And it's holding it so far It's still above where it broke out from here at round 15 That that might be it. I mean it maybe we don't get up to our 20 21 level Not not enough buyers So anyway, we just we just covered like, um, uh, you know Three or four different ways of trading that are pretty popular Okay volume profile patterns candlesticks uh, and um Oh god, what was the third? um Or fourth Anyway, let's uh, let's let's see what uh, I'm gonna put a quick poll in here um In you too. What oh, yeah indicators So, uh, let's see if you guys can uh Uh select something in there. How do you trade? I'm gonna put a poll in there Guys look at this beautiful move. So it pulled back and now we're getting our move. This was you know our primary Uh scenario here up into 21 based on much higher time frame Okay, looking at our go revisit here Okay, after all of this, you know back and forth and back and forth and back and forth and and and you know Ski with the order book and it was good that we went through all those lessons during that time It was not it was well used well utilized time. I think uh, so, you know I like the hourly chart. I think best so far 15 minute is not bad here as well Uh, because this is where the wicks are up here. So 34 on up to about 43 Uh, but you know, there's gonna be I mean you guys tell me volume volume profile guys This is probably the high volume node up here For the you know, this cluster of volume here or this cluster of volume in here It's likely right around where we are You know trading into it right now So, uh, if that is the case, you know, then that might be your target Uh There's also another and and that's fine. That's fine. It makes perfect sense Uh, maybe maybe there's not enough buyers in here to test these higher levels in here now that said Maybe you take some off and maybe you're still looking for it to squeeze higher here because Look at the momentum. Look at this huge gap And we're still we've had, you know, three You know candles here on the hour chart. They're all green So far and they're pretty strong here, too So we're looking for continuation here All right, it takes this is kind of the train here to slow down that momentum You know, maybe it maybe it has to trade up into here now What we want to understand though is the order flow. What is the order flow? Tell us to give us kind of insight to this push or this not have this push All right, let's take a look at our Our poll Okay, jonah. So you understand the the breakout. Yeah Chetan does the order flow move toward whatever the larger number of buyers or sellers are Well, it it depends. It depends on the context I don't know when you came in You can go back and revisit. Maybe if you want to watch the recording But it really depends on on the context of the the Appetite for trading up into these areas here, you know, like we covered here Well here, it's acting like a magnet over here in twitter It's certainly not acting like a magnet Right, this is acting like a magnet up here our 42 level Okay, so There you go Okay, jonah. You trade price action. I don't really know what that means um but I guess some of the momentum in here like, you know, if it's pretty strong you're looking for a continuation um You know, if it's consolidation Supply and demand, okay Yeah I don't know like I mean price action to me is is this is what it is Here's your price action So the way just desperate and offer streaming here Here's price action. Look buyers consolidation buyers They're moving it Not i'm i'm not really sure What I hear it all the time price action, but I Not really sure like for me it really is it's a it's an auction um and um Understanding these contexts between buyers and sellers in the auction is the best insight In my opinion And you can kind of read it within this context here. So we were just looking for this Move to 21 we got it It traded they transacted they got what they wanted their sellers up here We have we've now seen after this big event in here. We traded through it a little bit Not much Like two or three ticks maybe four Yeah three Uh, and then it sold off immediately back down to point of control Okay, or where it broke out from here at our 15 level Right now let's zoom out and let's take a look. We were looking at this profile profile traders We're looking for this to kind of smooth out right Well, it kind of did in fact it made like a note over over here And it's due to this action in here these transactions in here If you have buyers and sellers on both sides, um, then we we kind of look at like where there might be skews in buy like let's say a chetan, uh in, um, uh Consolidation and range Where's the skew Like like this in here is there's a skew there was a skew to the upside in here because of the the kind of top heaviness of this range in here Here's our here's our bigger range All right, this is a good example actually here's our bigger range Well, where's the majority of it trading here it is in our our profile no question about it A majority is trading up in here All right, so we're looking for it to kind of do something like that And then smooth out this profile in here Okay, so it's again the context. Okay. Well, are they buying up here? Are they, you know Being able to like, you know retest these areas here and find buyers up in here Uh, that would be one element to take a look at the other element is what we covered with the the heat map Understanding the supply and demand and the heat map. Well, there was uh, yeah, there was some, you know supply in here Uh every now and then We we we'd have to zoom in to get more kind of insight on that You see how they're pulling in here and they kind of stayed in here And I don't see too much If we zoom in it, you know, we'll get a different Look here, but there's not a whole lot here on the bid that kind of pushed it up until maybe we got up into here Uh, and then they're kind of underneath here We can get too much out of the heat map on that example Sometimes it's just clear as day And it's not it's not so much about the volume. It's about the heat map Uh, most most of the time is it's both kind of a context of both So you can see I was kind of filling in this uh, uh, this little area in here right now for your volume profile guys All right, it makes sense. It kind of auctioned through there pretty quickly and didn't really kind of auction in here Kind of test it and and see what What you know traders think of it in here All right, so we have our winner on on the profile volume profile is the winner uh, let's see Indicators 15% all right patterns 30% Oh, I put patterns in here twice. Sorry. Um I meant candlesticks. Um Hmm, I don't think I can edit it. All right. We'll use use the second patterns as uh, uh, uh, candlesticks There's 31% in there right now Uh, I I screwed it up. Sorry guys. Um So anyway, uh volume profile is a clear winner though. So, uh We can end the poll I think you guys see the results. No, yeah, there you go. It's it's showing The only 42 you guys voted. All right. Well, anyway, we kind of covered all four, uh on this breakout here And and that's really I mean again what we were looking at is order flow first And then covering each one. Okay candlesticks look good. They're looking like it's wants to break out Uh pattern. Well, you know, here it is. You know as this kind of ascending Wedge type of pattern, uh, and then volume profile weak top and Indicator in here Indicator is interesting. Um, this gave us a bad signal um Well, unless you look at negative divergence in your cvd, uh, this made a kind of a higher low in here, but a lower low in cvd Uh, and that that could indicate trap volume, uh, potentially and then stop runs to the upside I don't know if that's what you trade, uh, but uh, you know, there's more selling in here And uh, they were not able to take it lower So these these sellers in here got upended and that's why we see the stop run here with the red line here in these areas All right. Um So let's see here guys, uh, now, um, I was talking with, uh, tom b Uh, yesterday, uh, I wanted to do a test. Uh, so we're doing that right now Uh, I wanted to go. I wanted tom to start at 11 30, uh, am Uh, and he is streaming now Uh, if you go to our youtube, uh channel Okay, you you see us both streaming there Can you you can access both? Or either or Right So this is a test To see if this works for you Because I wanted, uh, yeah to dedicate a time directly for tom instead of saying that well after the advanced webinar finishes So we can see you can start at 11 30 Okay So yep seems to be working Oh, the the poll was uh rob was in um, uh in youtube Okay, great. All right. So this so it works. We can have concurrent. Um Uh youtube streams Great. All right. Though this will this will free us up. We'll have all guys I mean, we're gonna have more and more events in here. Um, moving forward Uh, it it should be just a great environment for you guys Trader networks, you know different different streamers Uh Covering many different things and um Yeah, and my job is uh to uh Cover order flow in general and and provide a very sound uh, uh solid Order flow foundation for you and talk about auction market theory Uh and understand how these markets work And once you understand that you can choose whatever or you can go back and revisit Whatever, uh trading method you use And uh, uh, it should it should help you quite a bit and that's our goal Huh, okay. It doesn't sound like is there any sound? Are you guys getting sound on? Um, Tom's youtube stream Can you guys verify that for me? Uh Maybe Yeah, please this is uh Be very insightful to hear. Maybe I have to end No sound, but usually okay, Tom Please say something right so I just uh Hopefully hopefully Tom heard me It sounds good. Okay Okay, uh Hmm. I don't know if I don't know Tom if you're in here watching um, uh this stream Uh, but uh if you are and I just Just pinged you as well still no audio on Tom. Okay That's this is weird. All right, so we don't know if Tom is speaking or not. Um And that that's uh Because a lot of times he just kind of starts and then he'll he'll he'll jump in Well, anyway, like we know it works. Um, at least video Is is working the visual part. Um, we'll have to retest it. I think maybe next week again Uh and see if it works Guys good session. Uh saw some a lot of different things in here. I think we went through in in in um Uh higher time frame lower time frame reading the order flow at these levels in here looking for the higher time frame More likely or more probable Due to the order flow Event to to unfold uh, and that unfolded pretty pretty nicely uh the um And then we had these different uh exercises in here about how to read the order flow Uh and read the order book, uh, and then read the volume and then, you know, read also just pure price action or, uh, You know streaming best bid and offer, uh, and then I went through a few different ways of trading uh And uh, uh, you know covered covered in real time So that, uh, you can learn to apply the various methods, uh for for trading Uh in reading order flow together Now, uh, so we'll end here. Uh, thanks for coming everybody and jump over to tom b Now he's going to go over his very specific way of trading in his volume profile Okay, so, uh, and that's what most of you guys are looking at anyway. So, uh, should be really good Uh continue on there. Uh, and uh, we will catch up with you guys next week then All right. So, uh, yep. Thank you all for coming. I'll have a good weekend and uh, we will see you next week