 Good morning everybody. Welcome it's Wednesday the 25th of October. I hope everybody's well and having a good week after last week's volatile week. I'll just get the disclaimers over and done with. All book map limited materials and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Trading futures, equities and digital currencies carries substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. Okay we are up and running. Okay right just before we get into the slides in the context of where we are. Going forward I thought the best use of this hour in terms of the screen real estate and presentation to you because this really is about ETH both recapping things that happen in ETH giving you a guide of when to trade it and also stuff about today and also live trading right now. I thought going forward I would just do this as a split screen between NQ and ES. I mean I think everybody's well aware that I do use other charts. I've got Sierra, I've got Trading View etc. so you're all probably using your own charts so I don't think I need to display a split between ES and NQ in Trading View over three minutes, one minute, five minutes. I really don't think it will serve too much of a purpose. Occasionally I may bring it in if there's something specific that I want to show but really let's just keep it as this. Okay and the reason why we've got a replay of NQ on the left and ES on the right it's for a specific purpose. We'll get into the later on the the reversal at the London Open in ES and NQ but what I wanted to show you here is the benefit of doing what I do regularly which is zoom in and out vertically. So on NQ on the left we have NQs zoomed out so we've got the entire action from you know the calendar day today in other words midnight Eastern time right up until about 5 a.m. so it's basically a lot of the European Open and what I'm trying to show here is that if we do zoom out you can see that resting liquidity which may or may not get tagged later at 14812 or so and you've got the resting liquidity below as well around about the 14700 so it was at 14705 and 14700. It's just if you do zoom it out and I find this especially useful in ETH it can be useful in RTH anything that applies in ETH can also be useful in RTH but they are different markets because you know one of the reasons that I've explained previously different markets are open so the US market is not open per se other markets are and they can often be the more driving markets. Okay and on the right hand side we've got ES and we've we've zoomed in vertically so rather than zooming out we've zoomed in vertically and what purpose do we serve here? So I'd say the main purpose here is to see the nature of this liquidity as we come into it and also to see the price action. You know we're not looking at candles here we don't actually have to look at candles at all and truth be told I actually use HLC bars most of the time on my main charts I only use candles for the educational purpose or content that I've been showing previously but what we can see here is the way that they they moved down price from from 718 or so 0718 Eastern all the way down in virtually you know within a minute or so 719 and it's a it's a virtual vertical movement. If I just scrunched this all up right and we had it like that you can't see it as well right and one of the reasons why you'd want to see that is to see that it was a vertical move and there is tremendous potential that they do take back those vertical moves especially if as you can see here it was a liquidity grabs they were trying to bring people down to this liquidity and yeah this is one of the main reasons why we use book map to see this kind of action to see that liquidity you can't see it on a DOM in the same way as you can with a heat map that's that's updated every millisecond or microsecond but you can see that and you can also see how quickly they took it back you know regardless of whether that was a trade in itself and you know you could say that was potential spring you know we talked about this one where you've you've got a breakout failure underneath into a liquidity warm and a bounce up so there is that one and then you've got this identical trade which is a much better trade here of where it's a breakout failure or spring of this into there and then a good bounce up right you know when they have these vertical grabs the you know it's always likely or there there is a reasonable probability or certainly something worth you investigating in my opinion of them being taken back but don't again take my word for this you need to do the work yourself to you know to put that in to see you know what happens when we get these vertical type actions in in RTA in ETH sorry I'm talking about ETH I'm not talking about RTH here and I'm talking both about ES and NQ you might see more of them in NQ because it's a thinner market but you know clearly you do have them in ES as demonstrated there anyway that was just my opening two cents worth I'm just saying hello to anybody that's watching on YouTube and on Discord if you've got any comments questions anything like that feel free to pop them into the YouTube chat or the Discord chat in the channel maybe ETH futures in in in Discord okay I will now leave this this bookmap snapshot hey Stephen and let's just get some context so if we just switch over to the slideshow and yeah we'll just let I think we can we can see that yeah you can't see bookmap behind it at the moment yeah let's get some context so we're gonna do what we always do go through the dailies the 10 or 15 minutes and then we'll go through the TPO VP volume profiles etc so where are we what's happened yeah we have got two wars going on so there's escalating escalating tension in the world we've had options expiry last Friday and we had a highly volatile week last Friday so we're off the back of that on the daily I've moved this back to the HLC bars that I normally use yeah then we're done with candles in terms of education and you can see the same things they're just a bar you feel free to use whatever you wish to use it on your charting so we've got a trend line it's been touched three times and it is staying intact and we're now well aware well away from that trend line so there is a potential for some recovery back towards that trend line if nothing else okay moving on to the next one NQ NQ you can see that's held that's been touched one two three four five times so it's been retested if the trend line is valid from the second touch it's been retested three times again we're well off it were below the 20-day moving average to 50-day moving average so there's always a potential for some kind of retest when we move a long way away from a trend line you know you could potentially draw a steeper one and see how that goes as well so yeah so the context there on the daily is we are in a relatively strong short-term downtrend moving on a quick recap I've just done this as the ten minute just to get more get a wider picture into this screenshot I've also colored it so that you've got white for our TH and and shaded or light grey for ETH and I've done that really so that it's easier to see which session is which no other reason at all is it exactly the same as how I did on my TPO's of volume profiles if you if you're in Sierra the actual study is called a time range highlight transparent something like that and you can see the purpose that we've got this is to see what has happened are we in a kind of a bouncing mode which we are because we've basically gone from towards the high to towards the low of yesterday and we're back in the middle so that's essentially what we call the bounce and we can always look at that in the profile which we will do in a second and on NQ somewhat weaker not quite back at middle not quite back in the middle of the range it may be now if I have a look across it probably is anyway let us move on from that so the next thing we do is we will grab the profiles and have a quick look if I can grab one this is where I grab the actual chart on the screenshot and let's blow it up a little bit okay I've also redone the the x axis so you can clearly differentiate between days so there's Tuesday even though we're now technically on Wednesday since it started at 1800 hours Eastern it's marked as Tuesday but you can see them RTH Tuesday Monday and Friday but basically the point of this is to show that since Friday we've been in a wide-ranging bounce we may have zipped way down there but essentially we've got this lovely bounce area which is quite widened in the middle I tried to draw it but I'd like to also point out where I clearly get it wrong so I drew it from that low volume node of yesterday's RTH but it's but you know I could easily have done it down to yesterday's low and it nearly got there yeah I could have you know I could have marked it all the way down here but it doesn't really matter it's just a guide for what may happen in terms of the last value in RTH providing a directional map or a range map for ETH so essentially and we're not actually that far off of last week's low that's in terms of RTH time not in terms of ETH I'll have to check that if it says last week's low because that doesn't look quite right anyway let's move on to and let's go and grab NQ again just this is just really illustrating the value picture so either it there we've gone quite a bit further down so I got it wrong on both of them or wrong in the sense that I was too narrow in what I was forecasting by way of range and we've really you know traversed the whole of yesterday's range or yesterday's ETH range in in NQ but basically we are in a wider range value we've rejected this this little price action below and we're back in this one two three three and a half day value half a day if you count today's ETH as half a day the only thing I will grab it because it does seem to have interest to people is the stats all right and I apologize for the font size I can't really change them on the fly here it would it would I would have to literally change the inputs for that 16 studies to go and get the fonts much bigger but there is one thing I wanted to point out and if we look at the EU range here in NQ for example it's 75 points so far and 18 points in ES the thing I'd like to point out is that after you've had a couple of ridiculously volatile European sessions or ETH sessions as we did last week what can happen is that the 10 day average is a bit skewed to the upside in other words the range the average range will be higher than you know what is likely so there is no harm whatsoever if you do start you know compiling your own stats and monitoring average ranges to have slightly longer term averages rather than the last 10 trading days just so that if they do get skewed because of a couple of days action you have something to go back to okay so that that was just there that's basically just showing that we haven't quite got to the crazy average of the last 10 days yet and if we if we have a wander back on this live action in ES you can see that that little bit of liquidity and that spring that they have it there it has worked beautifully and that they're now making their way towards towards the the sort of resting liquidity I suppose you'd call it yeah let's zoom back when do they put this in place they put this in place at all right okay so they put this in place last night before midnight okay is that right yeah it is it is right so it is resting liquidity up at 4265 I haven't tallied that with an options level in SPX or anything but yeah it's just that that round number does trigger something in my memory I just can't remember what and there is a resting iceberg up here at 426950 which they have maintained all the way from the Japan open so because it's been consistent for over 12 hours now that does increase the probability that they'll keep it there so you know it's one of those things where they've had a massive range or well not massive but you know it's traversed yesterday's RTH range and now it's headed back there so that's one thing to keep in your notebook as a potential of where it is going next or maybe even before the RTH open okay let's have a look right okay yeah in terms of yeah we've done our context right so and and I will get back to recapping really what happened in the the London opening NQ in a little bit but yeah if I digress for a second just more on the educational themes yeah what I was I was actually listening to Tom's webinar yesterday or I listened to about five minutes I I like listening to little snippets of wisdom that Tom gives I don't normally listen for the whole hour or an hour and a bit that he goes for but yeah he did say something that was very very pertinent and it's something that I wished to repeat to this audience which is that you know our enemy or the person that basically lays the ground rules that sets the casino or the bigger players whichever set of words you wish to describe them what they do is that they do the same thing again and again and again again they've got a set edge that they've determined you translated to us that means we've got our setups which may have a set edge as well but they've got a set edge and they do the same thing day after day after day to execute that same edge so my message is that everything that you do from day to day to day you know when you're acting as a professional day trader in this casino type space you've got to be as repetitive in the behaviors that get you results as much as you can so yeah so there are a couple things I just you know wanted to throw in there as an example right yeah I've done a like a 60-second video of one of the little things the fun things that I do every day I think you've seen before that I I do look at correlations from a slightly higher level and that's in trading view and I'll just show you one thing that I do every single session so here we go let's just play this little video it should play through you even though I've got a microphone they should play that's good that one I think it's good that and go back to the NQ so yeah what I'm just saying is I mean are those instruments aren't set in stone but at the moment those are the instruments I'm using for the rough or high-level correlations every single day and by forcing myself to look at the same instruments as the correlation guides or inverse correlation guides every single day I'm forcing myself to be in a in a repetitive routine behavior right you know so eventually you like in Asia the the correlation with gold may be completely and utterly irrelevant it may be something that you just do not wish to look at again in which case you know I'll have my correlation studies and I'll say to myself that is not something that I wish to have on my screens going forward sorry I'll just move that across so we can keep an eye on what's going on but until then you know I want to keep my behavior is the same so I want that yeah I want to see the same things again and again and I've got different charts as well for some of the key stocks or key ETFs in the RTH session and that's you know one of the reasons you know why I like trading to you but actually raises another digression point for me so I'll digress again I'll answer your question a second billion yeah I talk about simplicity a lot and I talk about routines and and trying to do the same setups or the same process day after day this is something that I saw this week from trading view that I thought was kind of strange because it's a little bit to the opposite of what I go on about trading view have just changed their plans and I'm on the very or one of the most basic the essential plan which is you know pretty darn cheap you know because I simply want to get some price action of correlated instruments or instruments might be driving what's happening in the sessions that I'm trading but yeah they've gone from having three plans which was I think it was that had different name it may be called essential but we've gone from that to about six plans plus the free plan so yeah that to me you know I love trading view but that sounds the opposite of what I what is comprehensible and simple to me right yeah belly and I will get to your question let's have a look good morning baby do you track the RTH MOC information do you want to say what you mean by MOC because it can mean a couple of different things how does it have an effect on how things play out in ETH you just type in what you mean by MOC on that one meanwhile I'm just going to drag something else in over here all right I got a yeah I got a credit merit black who's a great future trader with this little tip he doesn't use this app this is an app called yet another Pomodoro thingamajig it's free it's it's open source it's on GitHub the tip that he gave to traders was to have something basically that alerts you every X minutes I think he was talking about 30 minutes right what I have on the screen there is you know a Pomodoro timer it's just a default you can change the timings or whatever to what you want but but the idea of this is that your brain which is an old monkey brain cannot focus for as long as you think it can do so if you've got some way of bringing you back to the the present tense every 20 minutes every 25 minutes every 30 minutes whatever it is that is going to help your trading or in my opinion it is going to help your trading it's also going to help in terms of your efficiency maybe you literally cannot stare at these screens and you know there's a lot that goes on in these lovely liquidity heat maps and the other things that you might be watching you know that it that it isn't humanly possible for you to retain a hundred percent or a hundred and ten percent focus for more than say thirty minutes and then you might need a break it might be one minutes might be five minutes but I think you might find that that would actually increase your efficiency and effectiveness in terms of finding those multiple ourselves and executing your edge time after time after time in a consistent and repeatable fashion so yeah that's just you know that's just something that I do use you know I'm always coming up with these these suggestions but it's just something that brings me back is also when I'm not doing trading stuff I find that good that you know that I can just do something for a set number of minutes and then when this goes off and goes ding and that then gives me a break anyway I just wanted to yeah show that to you as well that you know have an alarm bring yourself back to the present tense because remember you're not trading the past and you're not trading the future you know we do get a question in this in this webinar occasionally about you know what do we think will happen in future time zone Z and all I can say is you know I can give you my view on what I can currently see in bookmap but I can say a thousand times over I cannot predict the future and if anybody suddenly starts telling you they can predict the future you know you can you can throw whatever they're telling you straight into the bin because it's a lie nobody can predict the future and your biggest losses will be and I've said this before and I'll say it again your biggest losses will be when you're a hundred percent certain that it's going to go somewhere so like for example if I was long now and I was a hundred percent certain we would get to sixty two four two six four seventy five and I would not accept my stops and then suddenly it went a hundred points south you know that is not being a professional trader that is being a professional gambler oh yeah sorry I'll go back to your question I meant the market on closed information printed through 50 no I'm just using the settlement which is effectively what the CME publishes for NQ and ES and I'm doing something similar for DEX and for FTSE so and occasionally NICI but it's not as useful on the NICI so I'm looking at that information remember I'm not looking for something exact I'm just looking for the market to come home so there I mean there was that study that I talked about a couple of weeks ago where you know there was a conclusion at the end of the study if I summarize it in about two sentences that there was a likelihood of significance imbalance of orders at the massive volume that's traded right at settlement so that's one potential reason why they like to come back and tag that value to partly tap into that imbalance but yeah I just use the publish settlement figure and that's what I get from I get from Sierra and TradingView and these days it is for the CME products an identical number I I mean it's probably available in book map but you know you tend to use what you know you've used in the past that that is easy to use and you know I do programming in both of those so that's how I derive my settlement okay let's do a time check currently 26 minutes past 8 yeah I think I did look at that calendar I think I skimmed over it let's bring it back bring that calendar back okay yeah if I did skim over it let's let's talk about this since this is context for the RTH session and part of this session is a breakfast briefing to make sure people are all to help people prepare for the RTH session and what are we talking about here we're talking about this at 0945 Eastern we're talking about the flash PMI services and manufacturing at 0945 so there is no significant economic release now I've actually got my financial juice news feed in one of my ears at the moment and if anything major happened I can actually turn it on so you can hear it as well but there's nothing happening at the moment but that is major that's market moving and when there is a major red item early ish talking about yeah 945 10 a.m. they often do some kind of moving or manipulating the market into a certain position before that release and that's something that we have to be aware so if we are trading this session 0800 to 0930 you know the breakfast session even though it's not a real session just part of the pre-session yeah we just have to be aware when there is a major news release and that one you certainly the closer we get to 930 the more impactful that's going to be in terms of where they might move the price up and down to so okay let's get rid of that and let's talk about this which is NQ and why have we got it why have we got it zoomed out and how might it have helped at the London Open so I've got I think I've got all the action so think if I haven't got it quite back to 1800 hours yesterday I have got it almost back to 1800 hours I think I rebooted and I normally get an hour back when I rebooted and I rebooted just around about five to seven yesterday evening Eastern time so 1855 okay so so I pointed out that they've got this resting liquidity at 1812 well sorry 1481250 that they may be moving up towards and maybe they're trying to position that for the PMI who knows but what was interesting was that you know early on that you know you've got this round number 14700 which you know we take with a pinch of salt but we had a couple of numbers you can see from the light blue it's never gonna be as as as bright as this because that's a hundred and six but this is 48 in terms of resting orders and this essentially came in wasn't okay it was PMI yesterday if I got the wrong date okay thanks Marius yeah thank you for correcting me yeah this is that is one of the problems with me and looking at Tuesdays and Wednesdays so yeah good point let us yeah good point let me just drag in financial juice very good point let me just blow it up so we can see it so you've just got to take 12 hours off this and I apologize because I was looking very quickly at that when I was doing my screenshot about an hour ago so you're right 2200 hours my time or 10 a.m. is new home sale so luckily what I just said was actually reasonably relevant they have got a major market making a market moving release at within an hour of the open or within 30 minutes of the open so the closer we get to it I was wrong it's not 945 it's 10 you know the more that more the term your price can be manipulated into a location that they want so I'm wrong it's not 945 it's 10 and it's the new home sales not the flash PMI and okay thanks for the correction okay let me just get rid of that news anyway I was just showing you that I am looking into different time zones looking into completely different time zones and as I always say when I'm talking about news I don't actually care what the news is I care what its impact is on the market anyway thanks for that and thanks for the correction yeah and again I say that we will be wrong we won't just be wrong on our on our setups and executing those occasionally we'll be wrong on other things and there's a very good example there of me just being wrong yeah so you've got to bear in mind you're a human being and you're playing against people or algos that are certainly not human beings and that's just one thing that you also have to accept your own failings you are going to make mistakes in this business and when you do accept them sorry when you do realize you've made a mistake you've got to be quite forgiving of yourself and just accept that you're a human being and that you'll make mistakes anyway let us get back to this so we were talking about this 705 level this resting liquidity that actually came in pretty early on as well in the Asian session just after Chinese open at just after 10 p.m. Eastern or 2200 hours so there was two levels of liquidity of interest and they drove it all the way down there and since then they did a complete V bounce basically just after the London Open so when we zoom right in and we look at when the low was actually formed and this and we'll get into zooming it in on this vertically because it becomes a little bit more interesting yeah I mean one of the things that bookmap does do remember is it's an instrument copy or I've forgotten the name of the exact add-on so you can have two versions of this e-map you can have one which is zoomed in vertically and one that's zoomed out vertically and you can also filter them by MBO order sizes etc but yeah yeah it might be worth some people if you've got that kind of real estate on all your monitors and I don't even though I have four monitors you know to have it that way so you have it both zoomed in and zoomed out vertically right okay let's have a look at that action and find out exactly when it was so it was at the three the 330 mark so one of the things that I do say is that beware those 30 minute time and time points because they are often turning points or when some of these algos turn are turned on such as the European Bank algos you know the old Dorchivank algos any of the algos that might be around that are operating on the bond and other instruments in that time frame you know the early in the European session so you know you watch the action at 3 o'clock they might be doing something weird or nasty so one of the most dangerous times to fade is right into the London Open it can give you a tremendous result but it can also destroy your bank account 330 is you know 334 and 430 a.m. are also relatively often as the turning points I think 430 is probably more often than 4 o'clock so I'd say 330 and 430 very very common turning points in the market so this one was at 330 so the actual one was right at 330 and if we zoom right in on the action there yeah I think there's there's a couple of things worth noting right firstly you can see when this liquidity was added to so this did not constitute true resting liquidity and I'm talking about the value at 14.710 so yeah there is never a guarantee that resting liquidity will be hit nothing is 100% but the fact that this only came in much later than you know it came in after the London Open that's clearly not resting liquidity even though there was some size of liquidity there beforehand but the less resting it is the less likely you can use it in the same way that you use a resting liquidity with a high probability of being smacked into and I want to zoom in vertically because I actually want to talk about some of this vertical action for these reversal points just seeing if we actually took that one out we did take it out by about one tick okay yeah this is something that's a little bit specific to more to NQ than it is to ES I think you I mean again this is one of the benefits of using bookmap you can also replicate this to some extent on a very short time frame chart okay so what I'm talking about here is the near vertical action so it was something that I was talking about on ES a little bit you know that towards the beginning of this webinar I mean you've got two two sets of vertical action here you got this vertical action there and then you got this vertical action there so the likelihood there is and you know we haven't just got price action we've got the liquid the liquidity heat map to use it in conjunction with it so if I say that there is a decent probability that when you get that vertical action they'll then take it all back that's fine but that's half of the picture the other half of the picture is you know what have you got my way of resting liquidity key levels etc around there that could give you a view you know as to as to whether as to whether they will take that back and this might be a reversal point so what we've got here is you've got a little spring so it takes this out by one or two ticks the steeper it is the scarier it is and often the better it is for for your for the likelihood of your entry okay just point this one out okay so yeah so here we've actually got some steep action there right it works both ways so you'll often get you know regardless of which direction they've gone in or which part of which move you might think we're in these steep moves are often reclaimed and on this occasion that was a recipe for a great setup so you know if you've got in your mind that you've had this first 30 minutes of action and there is a probability that we might get a turning point at the at the half hour or you've got a level and you've been looking at yesterday's low and it was quite close to yesterday's rth low that we got to so you've been watching this zone right so you see this and you think oh well I've missed this but because it is such a vertical type action there's a probability or at least a good possibility that they'll take most of it back if not all of it so what does that mean for you it means that you think damn I've missed it and then you think for a second hold on let's be cool and be in the present about this there's a good possibility that we're going to get a damn good opportunity here around about this zone to have another go at this so you know the worst thing you can do is to say oh it's going to go now we're almost at 330 I'll just chase you know because you know it might work sometimes you know you might have had a really wide-stop way down here and then you know eventually it would have worked for you but it's not necessary the best way to get into this and if you take that chasing type of approach they will get you sooner than you think and you'll often be right in in that sense that you know where the market is going but you know you'll have been stopped out already before that you know before you really got going on that trade so yeah so that point is just that you've got a key zone being yesterday's RTH low and you've got this lovely up and down action and don't chase wait for your setup to come so you actually had a lovely spring here and you have this lovely reclaim of a vertical action okay and then if we zoom back out again for when they put the what I'm trying to do here it's a little bit hard because these silly algo bands which are actually a little bit better than they were a week or two ago but you can see these horrible algo bands above and below that are completely polluting this NQ heat map so it's really hard to see where these resting liquidity levels are but you can see one that they place there that's a marker and you know again and I'll repeat this again when you see that marker you don't immediately go for it but it becomes a likely target to either take a scale or to clash through at some point when you do get a trade so when they put a marker and you know and you haven't quite got down there you know that's that's one of their film markers so you know they're pushing the market down they're likely to have reversed and got in there and that's that that that is often you know where that they'll have taken a scale and it's nice of them to actually provide that illumination for the rest of us or advertising for us but it's just a question of finessing how you get into it and sticking to your process and your setup so that you don't just go for it you wait until the combination of price action and structural setup that will be offered to you most times and and then you take it in a regimented fashion okay where are we now 840 okay I've rented on about the NQ open for a while so let's have a look at some live action now and see what they're doing so on NQ they've got quite a few sell icebergs that they're pushing the market down into this zone here so you've got some liquidity down at the 14 750 level and that was a significant low from 8 o'clock okay so bringing it back to a significant swing point we've had a little MBO stop 21 there the question is have they got enough of a fill to then get some ignition to go up for a bit and take into account what we are seeing in ES at the same time which is why we've got these two side by side so if I have a look at the tail there and I zoom out of it now if you're saying if you're looking objectively at this Delta tail in this column you wouldn't say that it was a massive red tail at this stage it's too too much splotchy green if I can use the word splotchy there so it's not the perfect it may go up now you know again I cannot predict the future and you know maybe we're going to get some kind of vertical up and then vertical down action again like we were talking about previously who knows but I'm just saying that the Delta tail indicated to me that they hadn't got enough fuel to go straight back up there's also dangerous well when you start doing live commentary that people think that you're doing live commentary to provide some forecasting of the future rather than you know just objective analysis so we had this liquidity here we want to see this get as red as possible and we also want to see them clash into or basically get some good cells down here to act as fuel to go up and then when we do actually zoom out a bit further in ES and I have a look at this little by iceberg again I don't use these by icebergs as targets in the same way that I use cell ice burgers as targets I'm just using that as information that I was unaware of until I just saw it then so yeah it does that mean that they're going to drag it down further so you can see them they're pushing this market down with cell icebergs and enqueue and they're pushing it down quite hard and they want to push it down somewhere in particular we don't know exactly where they want but we'll get an idea that they've got there by the type of price action and by the type of these tails and sometimes you got this little liquidity there so you know that was an initial bounce then you know we're going to have a look at these live vertical price spikes so that that was quite interesting there so they did that for us again so you had you can see that there that's vertical and then they reclaimed it straight away and now they've gone and hit this next liquidity zone there and meanwhile ES has taken out this entire chunk of liquidity and you're getting a decent little red tail going there I'm just looking across at my charts as well so to get get me familiar with where we are on a three or five minute map and also yeah since I can't see my shaded V-waps necessarily I just wanted to work out where we are in relation to value so as far as I can tell we're coming towards the low end of value or the approximation of value for this session which in NQ I've got around 14 747 and in ES I've got about 4252 4252 50 so basically around about here so it will be of interest to me in a value proposition whether we can get past this zone and we then break out of value or whether it's just a test of either extreme value and a bounce back towards the middle of value anyway this was actually a really nice event here to do that illustration of those vertical ups and downs for us so you can you can see that it's also something that you know when you do see that and you can see them immediately take it straight back you know and you know you haven't got any silly candles in the way and you can see exactly what happened in terms of price action that should discourage you from ever really wanting to chase this particular market being NQ okay I'm now going to zoom right out in ES and have a good look to see what it is below that they might be interested in so we've got this 4235 50 maybe I'll 4235 it's not a huge number 178 orders but it has been there all day then you've got this tiny resting by ice you know the little vertical action in NQ just there and they're setting out some more liquidity below 30 and 25 so nice round numbers in that sense 40 35 30 and 25 but we've also noted that when they start doing these kind of bands it's often a chance for them to get some fuel to go up at least initially so are they simply putting themselves into position to get a good price to go up that's what I'm wondering yeah three more questions about anything feel free to ask well so I just have a quick look at this so I'm just looking also he has got a zoom right in so we've got a we've got something there that which is not a rollover so 128 traded at that this low and it's the low of it's a significant low so far because it's a move down of but eight points which is a reasonable number for a straight swing down at this time of the day but it's not an unfinished auction in the sense that there are no buyers at the same price that low price there you know if we had 128 and there were buyers included that would intrigue me a lot you know you'd be thinking at that stage well then there's a good probability that we're going to take that out they had another these nice little vertical dips there which has been taken as well there were another nice little vertical pump just there too so this is you know this is quite fractal in nature so we could you know if you scale out horizontally book map you can still see them but I'm talking about things that should be obvious if they're not obvious to your naked eye then it's not what you what you want to describe it as objectively semi-vertical yeah then it becomes relevant then it's more walking down or chopping its way down and that's something completely different t46 you're asking a question feel free there's not an awful lot happening in this session as you're probably all aware this session being this one hour so yeah so I'm just going to quickly you know have a look again at that TPO and remind people going into can drag it back yeah so we're in a wide-ranging value as we go into the RTH session so that really is the prep so yes we are going in a big down move but we're in a wide-ranging value and until we really break out of you know I haven't actually got my pen tool today let's have a look my pen tool yeah so if I just draw two lines because I haven't turned my pen tool on essentially you know until we break out of that wide-ranging value box all we're doing is just you know trading around value and they may they may do this for days until they've gotten a fuel to have another major move down and there's a lot of people that then you know the measure moves or a measured move is like 100% or 200% times the height of this particular range or value range you know and there's no set formulas to whether you draw that bottom line from there to there or you make it a little bit wider it's entirely up to you what matters is that you have setups to trade that that have our multiples or potential on multiples and our high probability and that you execute them the same each time with more and more derivative products getting more traction like zero DTE options etc. I've been finding in ES every five points it can be there can be some particular behavior about this yeah now I look I look at zero DTE options I look at I look at ETFs as well you know I'm looking I mean we are retail traders we do not have access to the information that the bigger players do and also obviously we do not know what they are about to do they are the only ones that know what they are about to do right so we have to use whatever information is out there that can demonstrate to us you know large money is doing this that or the other right one of those is zero DTE there's a lot of money in zero DTE also I don't just look at zero DTE I also look at you know the full 90 days or why I say full 9 days I'm just talking about the next 90 days worth of options and I also look at what is happening in the larger ETFs you know if you've got ES and NQ you know they are instruments though they are derivative instruments but they relate to they relate to the same stocks that that some of these ETFs have you know and some of these are very leveraged as well like the you know the leverage versions of the SP X SP wine and cues and there are other esoteric ETFs that have similar holdings that you might not be watching I don't tend to watch but you know that but you may have seen I've done a couple of videos recently for another thing which I won't mention and you know that my friend Bruce has asked me to do and that's all about large volume trades in ETFs I look at that you know during the day and after the day as well so yes yeah I agree with you you know there are more instruments is more trading and options than there has ever been so yeah I don't think there's any real harm in it you do I mean there is a point that comes directly on the back of your question which is that the more people that then suddenly start observing zero DTE than the more games they are going to play in the cleaner the edge is not going to be and that is a value point then it becomes you know which tools show you better what they're doing in the options world than the old simple volume profile of gamma zero DTE you know you know about a year and a half two years ago that they were nice easy tools to use but they're probably not the same you know they probably don't have the same effect in terms of giving you guidance as to what is going on so you have to use you know tools that are a little bit more analytical but yeah no no I watch those yeah I do trade RTH and I think I've said that several times before I won't stay awake as you know many of you listening to this webinar might stay away because I'm on a completely different time zone that doesn't mean I don't trade the morning session yeah and sometimes you know I won't sometimes if I'm going to bed I won't want to take that last trade in futures if there's something that I want it to stay open so it might have to be an option spread or you know trade in an ETF or an individual stock something that I'm happy to leave overnight my time until I'm you know awake for the next session or the next time that opens in pre-market okay yeah I'm just looking back in this year my view on this one was that I didn't think the 128 was necessarily over but you know we've had a good run-up back to this little where is my epic pen so I really do need to draw at this point so I just have to go and grab my little tool it's remiss of me not to have it open today should be coming up about now and we'll start drawing for the last five minutes so I don't forecast future but I was hinting in as much as you listened to these webinars before and you can tell when I'm hinting something that this was likely to be not quite finished that's what I was hinting at but I don't want anybody to think that I can predict the future because I cannot but what but this is quite interesting here let's just have a look at this and let's draw all over it okay so you've got this here that's a vertical action so there's lightly you know they're going to take it back right and then you've got this little range here so where did they take it back to they took it back and and they did a little up thrust I'll draw with a mouse of that range you know if I draw straight across there they went just above took out took a couple of stops and then they went back down to the other side of that range and then they kept grinding back down and they're grinding towards this swing low they may not necessarily get there in the straight line they don't normally get to places in a straight line yeah but but that's the point you know if I think oh this is likely to go lower I don't mean it's going to go lower immediately I mean it's going to have some kind of action like this doesn't have to be exactly like this but there's going to be some kind of action like that before they continue because they need the fuel or they need to refuel up here to keep going down here so now we're at this level with this 128 which is now 210 and and they're buildings and that looks like yeah that that should now be an unfinished auction and they've gone through it so you know there's plenty of opportunities for you to study you know that can those kinds of option sorry those kinds of price action together with resting liquidity and heat maps and key levels and everything like that to form your own setups about how you can get that you know that is still a valid type C supply and demand rate that we talked about you know in terms of some of this stuff it's a little bit more complex in advance in terms of how they did it and how you get into it but it but but the actual essence of what it is is no different from anything that I was talking about a couple of weeks ago you just remove all that go back to that so we've had a one-tick breakout failure there now we've had a very small MBO stop and it'll be interesting to see and we've now got 19 which is like a roll over it's not a single digit roll over but it's a fairly small number that's transacted at that low and we've got this liquidity down below at 4250 which is a round number that they've been growing at so I'm paying a little bit of lack of interest in that but I'm also now then zooming out to see you know they've kept this tiddly by iceberg below they're growing at 40 and 45 which you know those five point things that you you mentioned t46 and we're watching nq which is doing a beautiful trend channel downwards at the moment and you have got something that's relatively interesting there at 46 75 or 46 70 so it wouldn't surprise us too much if they didn't clash with that they just did interact with it there why were we interested because of the size of that order there it was 47 or something like that and that was probably that the largest in the range that is visible in that column so that's why we were interested in it we've got another nice little vertical action down so we're seeing if we're going to reclaim or take back some of that right back to there but they may come down first before they do that all and they've taken back my speed already then down to the next next level no it's just interesting steady price action so you know I hope that was of interest to people's I think I think I've got to my nine o'clock finished so yeah I hope that was some information education entertainment edutainment and I wish everybody a really good trading session so I better wrap it up there thank you very much for listening or watching