 Morning traders. Good morning everybody So finally here Sorry for the a little bit of delay, but I have to prepare a few things for you today We have a special lesson on price action using book map. So we're gonna review some Charts that we traded this morning This is book map over here. You can see this morning tickers. I have Tesla. Yes, BJ DX and pins FOMC day Also, we have over here as a trade you can see A one-minute chart. We're gonna talk about the one-minute chart mainly today and also the five minutes We review a few of the trades that we took and for any question, please refer traders to YouTube where you can ask questions also remember to read the disclaimer and To put a like subscribe to YouTube channel Also, you can subscribe to the JTraderco YouTube channel So good morning everybody. Good morning, Brian Steven Mick Vin John good morning traders You can share your charts if you are part of the JTraderco room this morning. I've seen some charts. We're gonna review them Feel free to Point out what you would like me to cover. Okay, this is gonna be a more interactive Session so let's look at book move over here And let's take this morning into consideration for example Tesla remember fOMC day So this is how I use my book map a lot of traders asked me What I prefer to use which time frame? If you go over here in time slices Generally, I'm gonna put a zoom out so 60 minutes Or more because I need to see in a zoom out mode the major level of support resistance So I won't generally zoom out too much unless I'm really looking to Read the price section, which is what we're gonna do today. Okay? So first of all Second any question before starting? So, okay, let's start. So what is price action price action trader is the way that It's candlestick where we say each bar moves in the stock market Price action is gonna be generally in three ways. So side was action or some traders will call it a choppy or Lateral range phase we're gonna have a bull trend. So an uptrend or we're gonna have a bear trend. So a downtrend Remember that with when we're talking about price action, we're gonna refer to Names like relative high really below Etc. We have to look at four main things. I would say when we look at price action In order to understand it good, we'll need to look at support the resistance We need to look at trend identification. So bull trend or bear trend or uptrend downtrend chart patterns and also I will say volume analysis, okay But what will help us to determine the major levels? where we have reversals of the price action or Or and also support the resistance Everybody wants just simply to have a clear strategy and the clear strategy is what you will learn at jtr.co You will see a strategy that precise systematic This morning, we had very good trades. Yes, that was not here, but I see that team treated very very good I'm sharing the charts on Twitter. You can follow me at jtr.co jtr.co on Twitter and Monday we had an extremely great day on futures Q spy and also Tesla So if you're looking over here at BJDX What I What I'm looking at. I'm looking at essentially at the stock that is sideways, right? Let's improve this We are essentially sideways. Look over here at the price action Where we started so we started this morning over here at around 267 So the price Dipped into this support to 65 Then we went from red to green and we touched the 268 Then again green to red then red to green and Then essentially in the last 30 minutes over here So if we trace over here Align From the open to now you can see that the price didn't really actually uptrend it or don't trend it, right? We can say maybe in the last 40 minutes. We have a little bit of bounce, but it's not an uptrend An uptrend when you start forming a sequence of it leads to our lows and our highs. That's how we form a trend Okay By the way, yes, we are on BJDX So go play for you still short with us. We showed this morning the 550s and 570s. Okay So we're gonna talk about that so the first thing is the Trend identification Then we have to look where are the main levels support resistance in this case looking at book map We can see two major levels. So we're gonna take this off The two major level of resistance are in this case on this chart right now 269 and Then we have 265. So we're taking the extremes over here The level 265 is cleared of support level. You can see that the price got over here sneer the 265 and bounce and 269 area is a level where we have some Affluence over here of resistances, you can see the supply to 69 to 69 in 15s Where we have sellers place on our book Okay, so level of resistance level of supply the next thing is looking at candlestick patterns and for this will refer soon to a One in five minutes art and then the volume analysis volume analysis translates into The volume that is passing over here. So in times and sales Okay, but also the volume. They will see on the one in five minutes art. Okay. Let's start looking at our Tesla for the day And let's analyze over here the price action. Let's put up Tesla Let us also put over here volume So let's make this the same color of above. Okay, so we have our chart one minute So two main things over here to analyze The 269 area as we said, it's our resistance and it's gonna be this level up here And then we have our support as we said 265 Over here, which is this level over here. So we have our two extreme of the chart the price in the middle is just like simply Floating from red to green and green to red without any major Chains and this is because they that we have FMC market will be Mainly sideways. Okay, so then expect that we have like by the majority of the times big moves before an FOMC, which is 2 p.m. Of today release In order to analyze as we said the price action Let's repeat the concept. We have support resistance We have the identification of the trend We have then the volume And we have then the candlestick patterns for example, when I'm looking at this Barber here. Okay, you can see that the bookmapper here that I'm sharing Has a major absorption in the 266 265 and 90 just look over here on the bookmapper side Understanding this you understand that that level is a level where we have a lot of selling pressure But it's been absorbed and then we start having a bounce We're talking about over here in 950s At this point instead when we're looking at our one-minute chart We can see a candle of reversal this candle over here. What is it's a shooting star pinbar hammer hanging man person line, what is Like to hear some some of you traders right over here What is this pattern? Let's see if anybody knows it. So Brian is saying reverse this slim Neem is saying bullish hammer anybody else Hanging man Okay Let's see Reverse a slim. Okay. Now Look at where This pattern formed Okay So we have generally and this is for you traders a hanging man Okay, it's gonna be at the top of a of a move So hanging man is the reversal of I would say a hammer and in this case we have a hammer over here Or like I think Neem said bullish hammer Okay, so if you would have the same bar over here Generally, it's a close to the top in the high 20% of the body. Sorry of the wick and Will happen. Let's say at the top of a trend Then it's gonna be called over here hanging man the same setup the same candlestick bar at the low It's called hammer. Okay. So over here. We have this zone which is actually a support because you can see over here a heat map plus You can see over here the hammer. So all together Okay, become what our level of entry? Okay, is it clear this guys? When I review with you the the book map level Because it's everything over here, okay, let's try to Make this even smaller and I want to put the candlesticks so that I can Help you We're gonna put the candlestick in third valve one minute in this case Yeah, it's almost the same. It's not really the same as I see it over here Let's put it two minutes. No, let's put it five No, we're gonna take off the candlesticks over here Prefer have the candlestick on a chart Let's mark them. So we're gonna have our R Over here and this is gonna be our setup. Okay, so here we have what hammer hammer plus Book map support Okay, is it clear That's the reversal pattern over here in this case So once we see a support, you can see also the break of the support right away a reclaim and the bar forming I like to enter on the next bar here Now this is a bounce play in this case And then you can see it leads this move to all to the upside to this level over here 268 to 60 and 50 which was the open high level and at this point we have several Okay, attempts to break it to 68, but it always fails goes to 68 and 60 fails To 60 and 40 fails to 68 and 20 fails again over here to 68 If we move along what we see over here Don't we see traders another example of Hammer our traders What do you think? Exactly Exactly, so this level over here now. We need to check at around 10 30 If we have the same kind of support there we go and This is the level we can zoom out a little bit so you can see the Big selling pressure over here We have a support of heat map 267 266 90 and then a bounce back up So again, what do we have? We have a formation of hammer together with that hammer Now it's getting to this level over here. Okay, so we're we're forming some sort of Symmetric over here triangle so support and again can't say pattern. That's the price action over here We're talking about and a bounce play But relative bounce play because we have a side with action for the day Okay, is it clear? I think these are good example to share We're gonna put over here to put hammer plus Book map plus the man's own equal reversal Okay, we're gonna make it There we go. So we had two exact same setups right for the morning Let's also put this with the arrow So that you can understand very good. I mean the setups are clear, right? And that's just analyzing over here the price action Just analyzing over here the price action. That's all you need to do and there we go So we can have here The two points of reversal We're gonna mark him like this so in the first part of it here we have a absorption plus What traders fake breakdown? Okay, and the second one over here we have bounce from the man's own so over here we can write How it's up very short. Okay trading lesson on price action and we're gonna have over here Example on Tesla this morning In order to read price action, we're gonna write You need to consider The first part I would say support supply and demand areas Trend identification Three we're gonna write over here. Okay, so you can see the room Trend identification volume Candlestick pattern formation by using multiple sources or signals you gain conviction For the trade pattern and this is it. It's all over here That's how you identify the price action of a stock or a future. What are you trade? All right, let's go for questions if you have any and we can write in this example We can spot reversal bars candlesticks Plus demand zones Plus volume confirmation. Let's see if we have any questions over here Brian is clear zone is asked good morning. Jay. What data feed you mean for book map? So Honestly, I tried omni feed and I tried also the DX feed And I tried rhythmic so I tried everything if I have to tell you For futures, I will stay with the rhythmic for stocks Generally traders use DX feed DX feed won't have the Arkham route So it's like you miss part of the I would say of the the volume right of the transaction that Pass in the market But also with the omni feed you have only arc you don't have a djx and sd in all those So I've been always I tried both What I use is DX feed you cannot have the X feed and omni feed on the same I would say open source in this case template of book map or in this case of Tesla Okay, so you may choose I prefer that Mike is asking can you really be JDX book next? Steve omni feed Brian is a the same. Okay Thank you, Hudson. All right, let's review be JDX. By the way, anybody Is so sure We alerted that in the room live exactly the point. We wanted to trade it Over here a mentor students Short on be JDX by the way traders today is arriving or remember or in the room I think he's in the room since five six years. He's coming over here Jay I have MBO for futures I can tell with that Mmm, I can even trade without honest talking with a strategy. I teach some futures It's really systematic You only need the one confirmation from bookman. So it's very clear Okay Okay. Okay. Let's review a few examples over here So we are short on be JDX and This is a very good way to trade from I Call him Swiss because this is Nickname also here from Ella I would say a very good point over here. Beautiful. Why do you think traders? We're gonna have that $4 today on lower. Hmm. We're gonna have that $4 on lower. What do you think? We'll love that for future traders you can Refer to one of our traders I Think he did a very good job over here So as Aaron so congratulations first of all because it's not about the money, okay Making $200 or $30,000 33k For somebody has one count can be a lot for somebody that trades seven figures is not a lot It's about the risk management to really to achieve these I would say these goals. Okay, if you have any questions reach out to Aaron He's a very nice guy and love the fact that he has this parrot over here on his shoulder But very very good your beautiful job yesterday. So apply yourself. It's possible If you apply yourself as possible, you know, it's a very hard tough job I know that a lot of you won't put enough work in a lot of traders won't become six or seven figure traders or a figure traders because You may not have the possibility you might not have the time You may not have the drive to do it But if you hang in there if you have patience If you simply put the hard work and especially every single time that you have a failure You'll learn from those failures. Okay, it's not feeling again the same way But if you do it again over and over and over and you learn from them Then eventually you'll be successful So good job over here from Yesterday from Aaron very very nice It's still a decent 33k for the day John is asking and then we're gonna review this John is asking what's easier to trade futures in this is so let's say QQ here as well and spy or stocks It's different for example, I can tell you this on Monday was over here trading Yes, it was not over here and I was treating live with with a team so I have traders over here at the Academy so they trade with me and Simultaneously, okay, so we are trading and sharing directly the charts. We had Tesla at the same time and Q and QQ Q They all were showing almost the same setup What is about on stocks you may Choose a stock or a simple look at a scanner What's let's say giving the best set of the day when you trade indexes being a trade futures or indexes Let's say the Q's or spy you're trading always the same products. So it's very easy It's something personal. I would say just choose start see if you like it and then you go from there Had some wish you could one time break down Bitcoin. I know Bruce asked me if I want to go over Bitcoin I I have a friend much better than me in Bitcoin you script a bird and That's just like bread and butter. I posted this this morning if you want to read it. It's about It's about the difference between the comparison between Bitcoin and and the access nasdaq 100 index, okay And you will see that every single time that we have a peak on BTC We have it on nasdaq as well. This became even more Reliable and I would say precise since 2021. That's the reason why I didn't do it before Every single time that we have also an overbought Condition above the 75 for 80 of the RSI. You can use a RSI. You can use stock RSI Whatever you prefer. We have also a peak in a top on BTC and as Ndx or Nas 100 is the same exact thing. Okay, and as the X is the thicker, but it's nasdaq 100 So the best 100 companies So you will see that right now Bitcoin over here and we're looking over here into daily chart is into the 55 60 overbought area We had the major dip held into the 25 So for now according to what I see, there's still space for above 30k Okay, there's still space above 30k But I think I read it. I think it's interesting By the way traders if you have Questions or you will like that next week. I Cover something different First press a like over here and then right in the description below not in a chapter in description Why do you would like me to cover like this morning? We spoke about price action? And now we're gonna go with BJ DX All right, so first of all, I want to go over with you With Patrick right over here. You see you also have a coupon code is a J trader 15 all capital This morning I had this on the scanner BJ DX The first thing I start reading the news why this is up okay, and Let's read it together so BJ DX update symphony IL 6 regulatory strategy I didn't know what this was if by the company or anything and then I just started looking over here Kobe 19 boom again So it's a covet sympathy or actually it's a covet play and Blah blah blah they write all of this. They're out of this They're talking about first party candidate test for septic striage and all of this So what I learned from reading the news they're gonna They're gonna really try to show every single news like the best news in the world They're gonna invite you to buy it and they're gonna simply in the majority of the cases If they have that agenda to dump on you The point of this morning is that I had to Set up to trade on BJ DX We trade only short Let me Share over here with you a few things. I think that We were very precise. This is 931. I said only one thing BDX look to shortest six until 480 Once we were in I gave all the commentary and Traders could take it with us. So I Explained before we got the setup. I explained when we got a setup. I explained during the set of what we did So more than that is just like a need come over there and press your hub keys The point is this morning. We had a micro float. We have a low institutional. We have a low percentage short float We have some insiders ship ownership 36% a very small market cap shares out 1.24 Study also made a blog about the difference between shares out and float and also institutional insidership You can see that at JTrader.co. So study the blog you will find very good. We'll say notions and lessons Then I went to see back. What happened in the days and we had two major gaps But these gaps didn't trade a lot of volume one day we trade 11 million volume and we had simply a fader So it really similar to what happened today and then on the 7th of July, sorry on the 28th of July We had a day where we traded 9 million volume and in this case We had a little bit of extension and then we had a fail. So both cases We had a portion then it faded. Okay, so extended then faded Now looking at the chart on BJDX and then we're going to look at what happened today Put this okay, this is what happening. What's happening this morning and We had the nano float. No float is something where the very small Float float is the amount of sheer that you can buy in the stock market We have some kind of highs buying pressure and This game in the 850 over here nine o'clock 915 and then this is in the 930 930 is this level. I saw a lot of volume over here and I said traders patience. Don't short from side blah blah blah the same stuff So we shorted this area Okay, we showed the Syria When we were over here, you can read the commentary if you join the room That I said to resort over here 550 And now we are with average 570 plus the 540 is over here. We already covered here more than 50 percent Let's see if we're gonna have the four. Okay for now I can tell you volume and everything in book map At least looking what's happening right now They tell us that we're gonna have a four dollars and wine, but you never know with these small caps, right? Look at VGR It gets a support start finding over here a lot of shorts There are trap because everybody join short below the V-wap, which we don't do and Then we'll squeeze and you're gonna lose two three bucks per point the per share. Okay. Don't do it. Don't do it All right, let's look over here. All right. Let's see if you question John is asking no J. I'm sorry, but I don't really know it when I find one I will tell you and Jonah that's why you have moved to Dubai like many other traders because I don't know it is actually nice and we've been there But I believe that over here in some areas very nice as well Only the big. Yes, that's the reason why we're using book map since 2016 2017 I share many time results of me and mentoring Many many times things like a rate six seven years with everything Hello, Mike. Thank you arm Pudda is asking about 150 purple stocks somewhere in August 2020 at 89 its value It's certainly not as one perfect position. Okay. Do you trade the same day options? So Lately I'm having a lot of traders who are going To futures and options and the reason why to an option is that You can trade and make a very big return in terms of percentage with a very small account But this means that you have to be very good on options because it's a double sword edge You can make a lot of money very fast Even 100 200 percent in a day on the money that you put over there That you put in the market, but as fast you can lose that money All right, so especially when you will see Wednesday or Thursday or Friday Which Tesla option let's say just a little bit out of the money will cost like maybe 50 cents one dollar So means that buying five country you will pay 500 bucks You make 10 percent. You're gonna make like, you know, 50 bucks per country five contracts Sorry 50 bucks 10 bucks per contract 50 dollars You make 100 percent Okay, and then you're gonna make 200 percent sometimes you will see options that go from one buck Okay, so $100 per contract To 200 or even 200 in the same day with a very big move on tesla or let's say amazon Or something like maybe apple, which is very cheap The point is if you're not good enough so you need a lot of I would say training and expertise You're gonna lose this money very very fast When I started trading back in the days I was trading only cover warrants, which are the same thing as option very very similar. Okay In the terms that they have strikes. They have expiration They work with the Greeks So if let's say I was trading Italian equities this 99 2000 Uh, we had media set at 35 year making an example actually was less let's say 780 euro The cover warrants was maybe 0.20 Year or 0.50 and I could buy really tons of that and add a small account. So that's How I grew fast my my first account But before doing that I lost money. Okay, so it's not I got into trading and I was right away fast I lost money because I didn't know how a strategy didn't have it And it needed like a lot of time was buying a lot of books from the united states I was going over here to seminars in milan, which is three hours from me at the italian stock exchange And I got degrees from their master that Helped me but what really helped me was just experiencing the market learning from losses and All that experience that I gained Seeing what works what not now using also algorithm my trading. So we're programming things. Okay I'm giving this to the members and especially to the students and coming down to my mentoring Like you could see That's what he did yesterday on this 30k day So experience comes really from a lot of work thousand of hours on the charts Losses really losing and learning because if you don't learn or the losses are in vain Okay, those losses will be your fail. So you have to take those losses as A motivation to do better Okay guys All right, let's see over here so Okay, let's look at the price section another way to Learn the price section, but I will do it in this way very fast traders So we can put over here stay in join mode and we're going to do this So when you put the extremes, okay I know why It doesn't go over here. Okay the extreme when you put the extremes And you point the fractals Also call relative high relative lows You're gonna find The direction Of your trend What is the best way to do it in the one minute five minutes where for you today? I would say that the five minutes the best you will have less confusion. It will be straight And we'll be much clearer You can also use some indicators like for example zigzag indicator. I know that it's not precise But that's you know for good for beginners Okay, there are a lot of ways to define the trend you can put the ma's you can just use lower highs lower lows Like we're looking right now. So if I'm looking right now bjdx from this top I'm saying that we have High low lower high lower low over here. We have an higher high, but that was a trap bull trap Lower low. So we have a descending over here trend or a bear trend or a downtrend is the same exact thing Okay Uh bovine feel free to come in the room see yourself Uh look work with us. You'll love it um Any more question traders So i'm waiting essentially to trade today tesla and big caps fmc 2 o'clock And we will be uploading after so you can check out Uh Our feed over here. You can check out because we're going to post out the charts On bjdx And how we treat associating the execution on that Also traders feel free to write over here. You can write to team jjr.co If you have questions for Next week if you like me to cover something else Like fibonacci over here. John is asking. Yes, I use them But only in a certain way a writing description below Question they will like the more question I will receive You know the more I will uh I would develop a pair so we can look at fibonacci. We can look at how to control emotions. We control that Risk management. We can look at patterns. We can look also strategy Okay So that is these are two good questions. So fibonacci How do you control the emotions? Uh Steven's asking for long traders their specific strategy for going long where to short cover As well Okay, we're going to cover all of this Okay, I just write in the description for the next week Another thing traders we're going to have a bootcamp So it's going to be a live trading Five days over here in Italy for who wants to join Reach out to team jjr.co And we want to organize another five days, sorry three days in new york And also in damper. Okay, so Right to team jjr.co if you want to trade with us, it's not going to be the same lesson You know where like everybody does you're at the blackboard explaining things that happened two years ago No, we're going to do trading And lesson afternoon, but we'll be trading and I will mentor traders So we'll go behind every trader staying with his laptop computer looking at things together explaining process And diving the market together. So this is a very good experience Again, thank you very much for following us. See you again next week If you have questions reach out and good luck. Thank you