 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map and Let's jump in here. We'll do be doing the live analysis here We do it every Monday Tuesday and Friday 10 a.m. This is all forward-looking analysis And this is about the book map education or understanding order flow and applying These concepts to the live market from our education then we have live trading With J trader stocks trader on Wednesday and Thursday Scott Pulsini. They will be trading live. All right, so Let's go through some disclosures very quickly here, and we're going to jump right into the S&P e-many or whatever You want to take a look at 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 involves a substantial risk of loss It is not suitable for all investors past performance is not necessarily indicative of future results All right, so let's jump in right away here. Let's look at this S&P and look at the volatility immediately here All right, I got the sweeps indicator on here. Hold on a minute I'm gonna deselect that And Yeah, look at the beautiful beautiful heat map here, you know, we have a lot of we have an interesting week It's the beginning of May of course And always in the first few weeks. There's a lot of data coming out a lot of economic releases This week we have FOMC and we have non-farm. So we got a lot of stuff going on And there's gonna be a lot of news driven events Plus, you know this Inflation we have war. I mean, there's a lot of geopolitical stuff going on as well Nonetheless, we're looking at the order flow Beautiful move right down into 4100 right here as you can see at the cash open 930 right here And then a beautiful bounce back up just testing above the 930 cash open here Okay, so knocking some stops out of the area here And now we need to see what price is gonna do all right So we need to kind of understand like there is quite a bit of buying up here right now So what we're gonna go through just a couple of scenarios right now in the in the live order flow And I want to step back and look at the bigger picture And then we're gonna come back and revisit the order flow All right, because right now as you guys can see there's a lot of buying up here After this move down to 4100, there's a lot of liquidity down here that got that got filled here And we have a little double bottom pattern in here and look at the buying come streaming in especially in this area here Right and then look at the pullback The pullback actually went a bit deeper beautiful bounce off of or play off of the VWAP here VWAP again here as well and so some cracks in the VWAP right now And yeah, actually, let's go through the scenario here. Are we gonna are we above VWAP or we below VWAP? Is it gonna hold just trading into high liquidity here transactions taking place? They are getting filled All right, so now we've Tested VWAP a few times here. Let's see if we get more sellers in here try to reach back down to this swing at 4115 And look at the offer here. Okay quite a bit on the offer. We're finding sellers. They're pulling on the bid All right for 4110 also looks pretty good All right now there is still though Undeniably a lot of buying up here And so maybe we'll get a swing back up here. We'll take a look at it But right now we're looking We're already through our 15 and looking for our 10 level here All right, I like this area here at 10 quite a bit. This is where it broke out from You can see the buying coming in And then this is where we have liquidity here as well All right, so anyway, let's so let's jump back here. Let's take a look at our bigger picture For the week here and get to get started And let me check to see if there's any questions at this time. Hold on a minute Okay in discord Yeah, lots of stuff MC local Yeah, and Okay, and we're all clean and in YouTube no no questions at the moment. Okay, great Yeah, if you have any questions, let me know Just write it in there and I'll answer But right now looking at the daily chart over here We're gonna have to you know zoom out to a much higher time frame even weekly And take a look at things and what's going on there Because we've been playing around with this this bottom edge here And you can see the volatility and some some big swings back and forth last week And now we're down below it here. Okay, so we were looking at this level Back back here somewhere around here last week as a as the potential move toward because Why what what? What's the answer on that? What why would we think that this would be a target and why would we think there might be buyers down here? Wix. Yep. What are the wicks mean in this case? MC local. Yeah, rejection. That's good, too These are correct answers That's where the buyers started exactly exactly. This is where this huge move to the upside took place And you know, we're gonna get some reaction down here We know that and and this was all last week Well, not all last week, but some of the days last week And some back and forth in here and you can even read the order flow in here on this daily chart Pretty simple pretty straightforward here, you know here you can you can see the Testing up to this kind of 40 40 300 area and then wicks up here a Lower high here another wick and then you know We don't know But we look for the tendency for the the bigger trend is to the downside We have not gone above here. Okay. We made a lower high here. We'd be looking for a retest down here Okay, and but to pen potential break and also retest of this swing down here All right, and that's already unfolded Okay, so now are we gonna get follow-through or are we? Gonna bounce back up back up into this range here. Okay, so, you know today, maybe Go through different scenarios here in the order flow and we can speculate on maybe some of the fundamentals. Maybe Everyone knows that, you know Powell's gonna raise rates. So Are we gonna get the move right now and then wait for the news or are we gonna get some back and forth in here? Before the before the news event and then the movement after Regardless of this of the scenario We're gonna just look and read the order flow here and see where the momentum or not is taking place The hourly chart in the middle here Here's the move down on Friday. Here's a Sunday evening and here's Monday So Yep, the move lower the move back in the range here hourly charts looking pretty bearish in here So we couldn't get back up above this 41 41 area here So, yeah, that's let's see if we can get more sellers in here 15-minute chart here on the right-hand side. You can see the back and forth right up to where? Where the sellers dropped it here. They could have gone higher to these wicks up here They didn't We have pretty big wicks up here It's wick wicks all over the place here on on the 15 minute Back and forth and back and forth again to me. This has a bearish slant to it you know, you can see the move down here and then These retests up here followed by wicks and we're right back down again So, yeah, I'm looking for on on a 15-minute chart here looks like this 41 10 is a pretty good Pretty good area to test and I can see that. Did we get there already? Yeah, we already got there. All right, so there that was what we're looking for just on this move here And we can see the bounce back to VWAP again here Okay, so VWAP is actually holding holding pretty nicely Now it's also aligning with the structure. Okay, and that's pretty typical so Do you Alan do you get a? That's where they started buying do you get a prize for that? No, no, not not not yet not yet But good trivia event last Friday. So that was that was nice alright So let's see here. We get more sellers in here yet again boy Hard hard read at the moment here looking for more sellers here Not I mean we see them here driving it down to this level I don't see them here right now if they're gonna want to break this level and they're still on the bid here at 41 10 Okay, we've already had the pullback here to VWAP. So let's see if these sellers come in or not It's not looking. I mean, I'm not seeing them. So I'm not anticipating that right now Okay, and bids here at 10 offer here at 15 and Just stuck in a five-point range right now Okay, there. They go try to test 15. Okay, that's unfolded All right now we're now we're seeing maybe a little bit of exhaustion here Let's see if we get sellers here at 15 and then a push through back down to maybe 12 or 11 here Okay, just looking for that quick move here. It's really nothing high probability right now I mean you can see it's really dark in here And this is just buyers and sellers can can really move it back and forth within this area Okay, so We're gonna read the order flow and give some insight where we think it's gonna go based on what we're reading here But in terms of it being a more solid reading here. It is not All right. All right. So now back and forth and back and forth now the seller Let's see if we get our sellers. We did not see over here now We're getting them they they traded into this 10 level this liquidity was filled Just filled all right. Do we still get some sellers here? Not yet not at all not at all. In fact, this is our double bottom pattern in here Hey sellers here second leg no sellers buyers on the other side This this usually means that we look for you know It's already unfolded a quick move back to where it dropped from would be the first one here at 12 But then maybe top of the range up here around 16 Okay, or where sellers may have dropped it in here someplace And there's our move to 16 17 All right back to VWAP. Let's see if these guys can try to handle a move back to VWAP as well They got to get through this 20 level first high liquidity there. No nothing shake in there You know, it's probably gonna happen here We're gonna get it sellers come in very very quickly and then move this down to 08 But you know, we got we're getting a lot of buying in here, but we're right back down here again So looking for our sellers yet again, they've tested now and traded into this liquidity here now There's no liquidity at 10 So let's see them try to move it back down to 08 and Not nothing happening not yet Still still getting buyers Not getting the sellers that we're looking for down here Yep, and now now we potentially that move back to VWAP. I You know don't like to call those. I mean this is it's already there. It's already up there It it traded into that 120 And it had to go all the way back down here and then come all the way back up so you can see it's pretty choppy Okay, now We're in the middle of the range here and we're looking at the most traded level of this kind of little area in here It's right around here. Let's see if we get sellers here at 14 If we get our sellers at 14 looking for a move back down to 10 or You know, you even have a high volume note here at 12 There's right back to VWAP Interesting move. Okay, that's a lot of buying Maybe take it to this high volume Transaction here or maybe a little bit higher. There's 41 30s where we see the liquidity Which is nice nicely aligns here with the structure There's some exhaustion on the buy side up here and we see some selling up here Okay, let's see if they can come back down to 21 and through it here Looking for that. They're pulling at 21 Nope, look at the buying Still looking for that scenario though So we're looking now now we were looking for the sellers here now We're looking for them a little bit lower here around this area here Or we can look for exhaustion up here by buy side To trade it back down into this area here. Okay, it's not a trade recommendation here. We're just going through different Considerations okay, so a lot of trap volume possible right here right now Let's see if we get our sellers and let's see them drive it down to our 22 level here. I like this This looks better This scenario here just because we have a lot of selling or a lot of buying in here potentially how has to flip if we get our sellers here and It really depends they're trade right to this trend line here. Let's see if we get our sellers here Try to trade it back down to 2221 area and then that would also be VWAP as well All right, let's see we've got a few questions in here the recording of this this will be this is recorded and it will be Available on YouTube as soon as it's over this map is for orders settled down But that can the tool show algo orders. Oh, yeah, I mean it shows all orders It's showing everything whatever is in the order book here Carlos it's it's recorded Be it an algo a person large player a small player or whatever Okay, now it what we're doing is we're taking areas of high liquidity here from the COB column which is stands for current order book and You see the height the numbers here. These are the contracts. Okay, the liquidity And then we just take it and paint it into the heat map form red and orange very high liquidity Yellow is less than white blue and then black. Here's our move guys like looking For well, I yeah, I don't like it It had to come up here again and this actually is looking pretty good for a breakout here Up at 130 here, and where would it go? Yeah, back up into this this area up here, and that's still a possible Scenario here, I mean there's a lot of buying up here above VWAP right now Anyway, so the other heat map here We're just taking the areas of high liquidity and painting them in this everything to the right of the vertical white line here Okay, and you'll see the numbers change the heat map will change But then all we do is record it and plot it on the chart This is what was available at that time in the order book here Okay, you can hover over these areas and you can see it there were like, you know 73 contracts here or it bumped up to different colors 76 contracts or you know 77 here Hey, this area appears 94 Hey, the darker red areas here All right, so that's that's it. Oh, this looks good. It looks this looks good for the breakout up into here 37 I mean a lot of volume here a lot of buy volume Let's let's look for it here. We got a pullback a small pullback already Okay, and looking for coming up back up to 30 here and then looking for our buyers there They are all right buyers. You should be able to looking for them to take it up to 35 Okay, and let's see if they can take it further 40 that's pretty strong. So and now bigger picture. Here's all is buying up here Looking for them to take it higher than that 150 160 Okay, now let's now we need to see the follow-through here on this buy side This is really good momentum though looking for this to clue in more buyers I'm gonna have nice stop run there. Okay here as you can see Okay, now are we getting our follow-through? Not yet Not yet. Where are the where are they now not seeing them? Okay order books up here at 36 35. That's good See if they're here. Here they come. Here's a bit more. All right. Let's see them reach up here to 44 Good good buying again Now that's that's not a stop run either. This is not a stop run in here. This is another just a beautiful thing about the Stops an iceberg indicator Okay, the MBO data You know, it's telling us something here. This is not a stop run. This is this is a larger player They're buying here right so we're still sticking with our scenario here to 150 160 and this is really strong buying Okay 170 180. All right. Let's let's just Take a step back a deep breath here. Can we make it up to you know, one nine forty one ninety up here forty two hundred the figure up here All right, because this is quite quite strong here And not in everyone's expectations here. All right, let's take a look here So here's our hourly chart here. So forty one fifty or forty one sixties pretty important area here And we're coming right up toward it here So we're gonna have to see quite a bit of buying here to be able to lift that the next area Would likely be around here forty one eighty. I think We mark that up so and this is critical here. So on our hourly we're looking at this What is it here? This is a forty one sixty. Yeah, actually a little bit lower here 58 Looks pretty good. Yeah, you can already see like a you know some profit taking it looks like here And we can go over this here. Is this profit taking or is it new? Selling coming in looks like it's a it's a pretty big battle up here But you know just let's just go through some scenarios up here on this higher time frame We have our rejection here. We're back into on the on the daily We here's our rejection from this swing low back on February 25th back in the range here. Yeah, maybe back up into this kind of 42 or here We even drew it up here forty one eighty and then here it is which is a good level in here. I Like it Now you can see that we're getting some wicks up here or a wick up here on this hourly chart right now Hourly candle though is strong So, you know all the way through here and that'll close in another half hour, so Anyway, the Let's take a look at the order flow Yeah, it looks to still be pretty strong here Alan I think you had asked about profit taking And how to kind of You know make a distinction between the two I mean we don't know for sure, but you know Here's here's an idea or this is kind of what it looks like and there's gonna be some new sellers in here Right in here, but there's a lot of traders that are you know, they're gonna take profit in here, too You know a lot of times when you look at One of the things we look for in the order flow obviously is is our higher time frame structure We want to know that look look guys here come these buyers again So yeah, I'm still looking for this momentum to the upside in our our 60 level here It's actually 58 That's where they are. You can see the high liquidity there now, you know, maybe a bit of back-and-forth right now but S&P does like to kind of rotate back and forth Nonetheless though strong buying strong buying strong buying Order flow is telling us we're looking for follow through Okay, so we already have one pullback here not a lot of selling in here So looking for more buyers again here at 55 and then the move to 58 and 60 and we have our 80 level up here 72 or 71 as well liquidity up there All right, there's our six 58 level. That's already transacted and 60 now as well All right, let's take a look here now some profit taking what would this look like? Okay, just some selling coming in not new selling not, you know establishing a position and this is how you get low volume pullbacks And they'll be they'll come up to an area and you know, there'll be buyers buyers buyers Maybe some sellers kind of get out there might you know new be some new selling coming in but You know this this is usually typically a lot lower volume than the buy volume here This this is we're just working out beautifully here. We're up at 65 and they're still buying Oh, I'm sorry Carlos. So you meant Is it possible to have an Algo not settle down? Oh, yeah, I mean, oh, I mean the Algo will however it's programmed You know a lot of times they'll just you know go to You know execute it best best bid or best offer and I maybe I still don't quite understand the question, but Yeah, you know a lot of times you'll see like informed actors in the marketplace where You know the Algo may chase After very very quickly and sometimes we think it might be a ignition ignition Algo but a lot of times it's You know someone that's maybe caught and they want to get filled before the market moves away from them Okay, or you know, maybe they'll just execute right on the best bid or offer You know they can provide liquidity On the best bid or offer just to try to execute. Okay. You got it. All right Yeah, it really depends and it depends on like, you know, a lot of the I mean There's different different players different Algos doing different things on different time frames, etc If you're looking at the kind of statistical arbitrage Algos, you know, they're looking for something very specific some sort of trigger Hey, where they know they have an edge and a lot of those Algos are based on correlations from different markets And that's one of the reasons why like I really like looking at and I know Carl, I haven't seen Carl in here quite a while. I think he's I think you're still in here Carl You just haven't we kind of ripped it out of the go-to webinar and now on on YouTube and in discord but Yeah, miss you would love to have you back the Yeah, I mean correlations just makes such good sense like comparing one thing to the other And then what's the you know, where is the money flowing? I Mean, you know S&P and bonds. I mean, you know, there's just this just makes really really good sense You know the commodities play like, you know a month ago or whatever Several weeks ago All sorts of things You mix that with fundamentals You know geopolitical Doug Doug plus is looking at the Very close correlation with SPY and QQQ and Looking at high levels of liquidity in those those instruments and then aligning them with the S&P many here Yeah, okay, so let's go through this here. Let it if um You know a lot of times, you know, you'll you might be a trend line trader And then you draw up that and then you draw up the swing just like this here Good timing and then look at the selling coming in here Okay, now a lot of times this could also be people exiting their Their longs here, okay, so just not only just profit-taking I mean just they're they're out Right makes sense that you know, they want to hold on to their profits and And not give them back. Well, how do you determine that? Well market structure is how they're determining that And we've all read the books about this but here it is in the order flow All right, just really simple stuff trend line trend line break sideways market is now is breaking the horizontal Well, this can be a reversal too All right, and a lot of traders though. This is where they're bailing bailing in here And so it's just not only profit-taking. It's just exiting or entering to I mean, this is an enter signal here as well All right, now do we see a stop run? No, not really. So this is new selling then Right. All right. If that's new selling, let's see them try to take it further down to 43 That would be the assumption or 40. Let's take a look. Let's zoom out All right, 40 is a level that we knew was pretty pretty good Oh 45 wasn't bad either that liquidity here, but 40 looks looks pretty good And that's kind of where we broke out from to so that's gonna be important level Right here at 40 Hey Carl, there you are Nice to see you All right been busy. Okay That was hoping hoping all it was well great rally or you've been doing great really, okay excellent excellent Yeah, really good to hear nice trading lately absolutely Yeah, I think some pretty easy moves So a nice nice kind of liquidity here at 50, but let's let's look at this here because this is important or 51 I should say So, you know, this is a larger player in here our large lot trackers showing a probably about 500 contracts is one individual actor here And they want to get filled and they just got filled. So now here's our event. We've gone through this million times This is our event Now what's the reaction after the event? That's what we want to know You know Scott Pulsini. He's looking at stop runs iceberg transactions doesn't matter He's looking at the event and then and he has his reasons why stops in icebergs Now we want to understand the reaction after that event. All right, do we get sellers down here? Not too convincing, but they are so let's see if they can reach a little bit further down 46 445 and then now to our 40 level So that's a that's a scenario here. Look at this. He's back again Okay, again, and it's likely the same player. Look at the large lot tracker in here Okay, this is an add-on with global plus that little white line here likely about 500 contracts. I mean just huge transactions here so You know, let's now let's see if what's the reaction after both of these two important transactions here Okay, and this is this is kind of tricky in here right now So Again, we're gonna call it. We're gonna look at the order flow But we're gonna be very careful in here. It does not look high probability. It's really kind of sketchy right now All right, let's see if we get more selling down below this or is this guy exiting, you know Are entering Nonetheless, we know that he bought in here. We know they're selling pressure But is there selling pressure below this area here at 4150? Not yet not yet In fact, it looks like buyers. It's just not really that clear right now It's pretty dark in here and I'm not seeing big big transactions Here we go up up up here and now let's see if the buyers are still in here to try to lift it to our 160 level that would be the Primary scenario Little bit of buying up here not a whole lot though. This can be upended really quickly Yeah, see see how we just don't know I mean here like it's just it's it's not giving us much of an edge Yeah, I'm still looking for buyers up here. I see more buying than selling Still so I'm looking for it to go higher However, you know, we know that it's not a whole lot of buying right now So what if there's heavy selling that just rips it down lower? Right, but but the primary scenario is 160 here and there we go All right, let's see if we get to 170 here now. That's pretty good now It's looking pretty good big cluster of buying up here. They they need to continue though Otherwise, they're gonna get upended right and we've gone through this a million times And it could turn into that here look where that buying is taking place all of this all of this buying in here Let me get my pen out. This is not What I want to not want to use that Okay Alright, so This buying in here. This isn't this is not bad. This is looking pretty good This is okay, but looking in here. This is not very decisive Right and we're trying to look at the these two transactions and and trying to understand what's going on in here Where you know, who's who's really kind of in control or moving this market? And we start to look at it in here and we start to go. Okay. Well, yeah, it's looking like buyers now the the the thing that we've seen on these kinds of days and these back-and-forth days is Here is the you know potential trap the majority of it is trading up here and it's also a stop run All right, so scenario to selling below it here Okay, back down to the bottom of the range at 150. All right, and it's already unfolding Okay, now that's that's a likely scenario here Okay, due to this these transactions up here into being a stop run and icebergs as well Right. So now We have the potential for looking at you know change shifting market here into now Lots of stops down here and large transactions down here and Then back into the middle of the range or We'll see if there's enough Selling down here to continue down lower into our 140 level. Okay, so now look where the transactions are taking place Okay, down here at 145 and see how they can get upended here. This is exactly what we're just outlining here Now we need to see though right if there's more selling down here. They're gonna take it right down to 140 And it's not too clear. Yeah, I just I would stay away from it And that would be in my plan But this is the this is the volume we're talking about here the same as over here on the other side Okay, so then you know, maybe a move right back to 152 right here through rejection overnight high Yeah, good good stuff MC local. I that's good. You're looking at these higher time frame Levels here and putting putting the some some numbers around it or like some studies around that This is exactly how you build a trading plan Exactly now, you know, if you have an edge or not You know, what is the what is the likelihood? You know, how many times does it reject? The overnight high before and you see it and then you can like maybe add in your your order flow studies Right for a very very high probability trade You know, or just you're gonna have an edge. Just just put it that way and it's a great way to You know build out build out your trading plan Let me get to some questions here and YouTube. I think we're all caught up curious about what percentage the book Yes is hidden. Yes, a good question Defense Very good question. I don't know The icebergs that we are reading With our MBO bundle Okay, is let's see if we get our sellers here right now and try to push down to 40. Yeah, I don't know I it looks like they're gonna do that even that though I Yeah, I don't even like that really Compared to some of the other moves that we saw earlier So Yeah, I was mentioning that that so that the icebergs in here are native to the CME only Okay, so there's all sorts of icebergs that are synthetic for example from TT trading technologies you know, they they offer co-location and And an iceberg order type and You can place it with them and that would be a synthetic iceberg is not seen in By the market by order data and it is not in the order book So it's a good question. I don't know what the answer is on that. Have you guys? I've mentioned this book in here and I just always I loved this book How I made two million dollars in the stock market By Nicholas Darvis Very short read it's like I don't know 80 pages and it's really quick read and The only reason I'm bringing it up in here. I mean, I thought it was just brilliant like You can look up the Darvis box, but it is really he's he's really talking about order flow And understanding the order flow And it's brilliant what he came up with as a as a Dancer a Hungarian dancer here in the US in the 50s and he got paid by stock from one gig and Went up and he was all elated and then lost his shirt And then studied the market and came up with his way of trading and while on world tour was making two million dollars basically in a nutshell and With his own trading methodology Okay, by by looking at volume within ranges Okay, now we have a lot more than that. We have volume and liquidity within price structure and ranges You can look at you know What is it Tony Tony Crabel or you know all sorts of other traders that talk about basically the same thing Hey, we're looking at the volume and and we're really looking at it in here the liquidity and the volume within the price structure And looking for when it might move or When it won't One or the other so, you know, you can apply that knowledge in here There it is like our 41 40 level which we you know Didn't really like Yeah, it was kind of going toward it, but it you know, it just wasn't so convincing We're looking for the possible scenario here of one side of the range here other side of the range here back in the middle And you can see what it did it just kind of dribbled down here and it was still I just you know avoid this here And avoid the pain Nothing nothing really clear here in the order flow No one really taking control here now Let's see if the buyers try to take control now and that instead of this being our little trap Okay, maybe it's this All right, and if they if that is the case We're looking for buyers here right here bounce off of this no selling Buying here Not getting it. Yeah, so that scenario is not going to play out at this time And let's now we're getting it. Let's see if we get a little bit more up here above 40 we want to see it above 40 basically And let's see them pull here on the offer. They are okay, so and we're on the bid here at 38 37 okay, yeah Starting to starting to pan out now I This is not the greatest look either to be honest. We really want to see that distinction And see you see how I just exhausted right here Not that's not what we're looking for So if we get sellers here then likely is 37 36 35 here and we're not getting sellers So this is still we're getting just back and forth in here. Yeah still All right sellers back down here And a pullback Okay. Yeah, thanks Thanks, Alan. You got a link to the book and let's see here All right back to the order flow. All right. I think I'm all caught up on the questions And let's take a look in here. Yeah, just don't like it Still is just not not liking it here Not getting much out of it buyers buyers did come in there But see how we didn't get the consistency in the bind it just they bought in here not up here Okay, now if we get exhaustion here on the sell side and buyers come in Then I think we got something but we're not getting that either Any other instruments you guys want to take a look at? You can see what I have open This is getting kind of dull in here Gold you want to take a look at gold? Maybe okay? Darvish was the man. Yeah, I mean, it's just crazy like how you know, it just a Dancer all right buyers coming in now Backups at the top of the range here again. No, like it's pretty consistent buying in here I like that so maybe they can reach it a little bit higher back to like 47 or 450 here still kind of leery of it though So, yeah, I mean we're back in the range already So let's see if sellers try to pound it right back down to maybe 37 or Here right here at 30. Yeah, 38. We're already there Interesting part in that in that book and video Trading donkey you want to take a look at that. Yeah interesting Part in that book was the Wow, okay sellers now taking it down to to VWAP here in liquidity There we go All right, we're starting to get a move here now, but it's just back to VWAP here and And this level here, which is important So you can see look at the structure look at the breakout There's our like a flag pattern here, which just means strong buying pull back Strong buying and that's the one we saw to the upside They can say the interesting about about that that book was He was on tour and he really wanted to come back to New York City, which is you know, where he was home and He thought wow, you know, I've got this great trading strategy. I just don't have much time I'm on tour around the globe and getting a copy of Barron's and reading that on Saturday and interesting part was that He came back and he did work on Wall Street for a little bit and it was so Hyped up and so distracting that he it ruined his performance that he actually Went back to his apartment and his back to his strategy and his way of trading and Boy, I mean that just speaks volumes to us Right. I mean look at the noise, you know Out there now Now the one thing that and this is this is actually one of the reasons why like in these advanced webinars This is why it's analysis. It's like look consider order flow here as an edge with your trading strategy No matter what your trading strategy might be. Okay, we have Scott Pulsini. We have Tom B. We have J trader. They're going through their specific ways of trading Specific to them you can learn from them Okay, these the rooms are not trade copying rooms whatsoever. It's for education. Okay to learn And consider maybe you want to integrate some of those ideas within your trading plan Okay, so not trying to create noise here. Just trying to Illuminate basically trying to provide Value in here for enhancing your own trading plan via order flow That's that's the goal. That's our goal here. All right, let's take a quick look. We'll jump back Nvidia Yeah, I was kind of afraid to look at it. Um, all right. Nice move to the upside Some back and forth Boy not getting too much out of it really High liquidity here high liquidity here high liquidity again here Here's here's the same thing. We're just looking at you know here. We're looking for buyers a breakout to 192, right? That's what we'd be looking for. Well, what is the order flow tell us here? What is this? Come on guys. I know you guys know this and More than just Alec and MC loco and Alan and techie girl and Burt Exhaustion Yeah, rejection. I mean, there's not much. There's not look at the buying up here Look at the buying over here and then up in here not very much. That's why we want to see it strong and consistent, you know all the way through Right if it can't it doesn't even make a higher high here It's it's equal it's an equal high to this here And then this is where you can also, you know, this is where you can start to look at not just order flow But you can start to you know integrate. Maybe you're a CBD, you know indicator you like structure and indicators Great great. Just look and start to understand where the volume is trading and where the liquidity is and put that into it as well Because here as you can see Here we had a trend line break Okay, and then here is Where we look for the break of the structure as well and look at the retest You know, you can't make this stuff up. It's right in front of us And traders are reacting to it So here we had some insight this in here Especially maybe a little bit lower here probably around here is looking pretty decent for a retest back down to here Okay, here this liquidity here. Okay, so there's a couple dollar move right right there More than that And you can trade it back down to these areas take some off and hold the rest or even scale in more at a certain point if you want However, you want to manage it Okay, whatever high is higher probability in here when you start to scale like that. It's it's more advanced However, it offers a lot more flexibility a Lot more now you can instead of moving your stop down to break even which you still it if you got in there You wouldn't have been stopped out however You know, let's suppose let's suppose you got in down here. Well, then you would have been stopped out at break even Right. Well, if you took some off though on the way down then You can move your stop overall break even up higher Okay, NVIDIA and AMD have earnings tomorrow. Yeah, that'll be boy. This is a big week. This is a really big week so Those are two two key players And earnings FOMC non-farm Yeah and a war oh Okay, NVIDIA doesn't report until end of the month. Got you. Okay What's the best way to learn Havier the best way to learn a book map? Yeah, come to these webinars But there's also an educational course online Okay, go to that watch that because that will set you up with You know the proper terminology as well as Set a very nice foundation to really learn from the live market in here Okay, because that's what we want to do in here is apply it to the live market And then we have other traders Tom B will be on in another like half hour or so Scott Pulsini on went on Thursday's trading live and then J trader stocks trader on Wednesday trading live and Scott Pulsini is a futures trader, right? So, yeah, we have that's a pretty robust education. We've got the course. We have the live Analysis here forward-looking applying what we've learned from the course Trying not to be a specific trading plan here applying for all trading plans Just going through order flow And then and then we have specific traders and you can learn from their trading plans How they manage how they enter exit? A scale etc. All right, not getting much here from Nvidia. What was the other request here? We wanted to take a look at in discord here and queue as well as Gold right, okay. I didn't know you're such a gold bug Alan Wow beauty beauty here. Look at this. I mean High liquidity here here Here, I mean, this is long-term high liquidity here At least for the session Trades right into it here around this 1855 area here beauty And then a move back up to high liquidity and top of the range here and a flip of the book here as well And you can see how? Now, we don't know if this is going to pan out or not We'll read the order flow at this at the key levels in here But look look how this can turn into a reverse head and shoulders You can never one see that And this is actually very very typical High liquidity getting filled on the way down It's kind of dark underneath here And then maybe they flip and they they provide liquidity on the bid here at a higher level And you're getting buyers in here Taking it back up to high liquidity at tops of ranges And then would you look for the scenario here for buyers up here? Or exhaustion here trade it back up to the middle of the range take some off trade it back up to the top of the range Consider if you want to take full profit or hold it or add after you've already taken some some profit here See you can slice it and dice it a million ways It's up to you your risk profile We are timeframe Etc Darvis was setting his orders. I think for Monday He would do his research or his analysis on Saturday and set his orders via telegram And have someone deliver the time that was interesting yet. Not only did he have someone deliver the telegram You know when he was on tour around the world He continued to do that Even when he lived in New York, he would not check the price he would have a telegram Sent to him Same process Yeah, that was that was rather interesting Anyway, I like that book It's just it kind of cracks me up. It's so simple. It's so straightforward And and very very insightful to you Okay, and like I said that can all add up into like a you know, Tony Krabel breakouts was another one like a Here we go guys on this gold. Let's see if we can get up to 64 here and then a breakout I like it. I mean, I like the buying up here got to get up to 64 though And likely that's gonna get tested here 64 We got a little bit on the bid here And we should get buyers they should be able to we'd be looking for buyers to try to trade this higher now Okay, top of the range and they just pulled Here's some exhaustion here or almost Just a little bit traded up here So another another pullback Okay, now, let's see if we get back up here again 63 and 30 cents buyers and then to 64 exhaustion again Okay sellers here Okay, so exhaustion followed by some selling now the selling we didn't this is a hard read in here Okay, because here there's no selling down here So it's looking pretty good if we can get back up here and find the buyers it exhausted out We get sellers here though and it was a quick move Right, so that's hot. That's a hard read there because we don't we didn't get too much out of that We did we did note the exhaustion and we do look for sellers here, but there weren't here previously sellers So it's a quick move And and then now they're supporting it down here though and look at this algo supporting it Okay at 60 160 Okay, and then I don't even know if they're getting filled. Yeah, they're getting filled in here So this algo is getting filled trying to get a better price now, let's see if we can get buyers to bring it right back up to here at 63 20 or 63 30 and then then our breakout to 64 And a flip of the book there on the bid now on the offer Pushing price lower Okay, bottom of the range here of This range it looks like they want to trade it back down to 59 here You know we see the flip of the book and we see selling coming in here. How does that work with the S&P? S&P is Went through VWAP, but we're getting our buyers back here again looking for a move back to VWAP here I think this is where we left off here the some of these clusters No, this cluster here this cluster here, and then we kind of left off on this and looked at Nvidia and gold As this move continued All the way back down to where it initiated Okay, and now some support Or at least some buying in here Here they come back to VWAP here just just back to VWAP right now It seems to be that a lot going on here around right around the the VWAP today As you can see it nicely. All right any more questions in here Carlos we want to take a look at some correlations. Okay. Well. Yeah, we're just looking at gold and let's let's do this here Um, you know, we can look at 60 minutes of data here in the S&P Hey by using the time slice tool here So this means from the current market to the left-hand side of the visible visible chart is One hour of sliding data Okay, now let's do the same with gold and Let's compare and I'm not getting much out of it To be honest Yeah, I'm not seeing much of a correlation there another correlation we look at let's look at Nasdaq and Let's look at one hour Bouncing off the same same kind of area here. The S&P was this looks much better I see the buying already above it looking for them to continue back up to about here 12 950 Maybe higher maybe up into this structural area here. Maybe even 13,000 Okay, so Nasdaq's looking pretty good here. What about We jump back to Russell. Do I have the Russell? Oh, I had it last week Okay, I think I closed it. Yeah How about crude I'm gonna turn the stops and icebergs on chart Boy, it's stuck in a range Buying coming in also it did break the high here on some strong buying and we see some support here So back up to 102 And then maybe maybe we can get a breakout I don't know And let's go back to our Nvidia and what happened here, okay, just back to 190 After that exhaustion and the sellers coming in Still it needs to you can see how that's important level here at 190, you know structurally We can show up the you know, and we have a correlation tracker as well Carlos You can put it right on the chart here in book map You have to have the symbol open Okay, but and then let me show you where you guys can get this it is I think it's with global plus only I'm not sure about that though a hundred percent so you can try it also for global And it's an add-on here that you will add used to be part of the core, but now it's an add-on Okay, and so click on the add-ons button here and Once you download install it, you can see it here. So let's take a look at this and let's put Nasdaq on here and gold maybe Got Apple on there right now Let's remove it. Oh, I got some sort of Issue here That's alright. We'll remove it actually Okay, and here's here. I'll just go through the process of adding it guys that Yeah, I'll go through it. We're kind of missing this though like the tag back to VWAP here And then now sellers bring it right back in Okay, so looking for them to drive it down to this oh five and then won't back to 100 here Okay, let's take a look at our higher time frame bigger picture here that strong move that strong candle and It in a really strong wick Okay, so you can see what happened This is the area where we need to see that strong volume. We talked about it And then we if we're gonna get back up into the 180 Level here, and this is what happened here. It's rejection back in the range here Sellers down now at the bottom of the range looking for them and take it down to the lows All right, so yeah Kind of convoluted in here because we were talking about all sorts of other things Looking at smaller time frames different instruments, etc but great great Example of some rejection here after that strong candle and strong momentum that we saw in that S&P here All right, so let's go through this All right, so I'm gonna add a Correlation tracker here so go to book map calm and like I said if you have global plus This is where you'll need to download and install them You have access to them with the license. Okay, so all you need to do though is you click on the more button here And then we're gonna go to the book map knowledge base Click there And then in here now you are in the book map knowledge base user guide section here Let's click on the add-on section here. Okay here This is where you'll find your downloads. Okay, here's the correlation tracker in here Don't tell me they just took it out of here It was in here this morning liquidity tracker, huh? Okay interesting Okay, sorry guys. Well, anyway, we can go over this though how to add the absorption And the sweeps indicator it click on here And then on the right-hand side you can either you can either scroll down the article here Or you can click on installation here and that here you find the download And this is where you where you download them. Okay sweeps indicator same thing Click on this Click on installation and download it right here. All right, once you've downloaded it then click on the add-ons here And then go and scroll down to the bottom here and click on add That's why I had a crash Okay, I understand now. All right, so yeah, we had a discussion earlier about the Correlation tracker and that's why I had a crash on it So someone that we mentioned It's in the add-on section there Anyway moving forward once you find your download in here You know you select it you add it and then you should have access to it. Okay Okay, beautiful little double bottom pattern here with buyers So let's see if we get some more in here. This is this is tricky here I mean, I would look for buyers to come in here and try to raise it right back up to one 41 16 or maybe even 20 here Just because you know, here's the sellers buyers second leg buyers Looking for them to now break it here because there's quite a bit of buying in here and retest here where they dropped it from and the tricky part in here is You know, we're we're down at these lows in here And and we got liquidity down here at 05 But yeah, you've got we got to go with what we see Okay, we might get rejection here But yeah, I'm trying to trying to get up here to test these guys here and we got the buyers in here So looking for that test Okay, so 17 and a half or so all right Getting up there, and then we don't see a lot of buyers here back and forth Sellers did come in but they did not break the structure here Got them on the hook if we can get buyers here at 16 not only do we get 17 we'll get 20 Oh, I'd be looking for it. Yeah, and and this is this is the European close here. So we've got Some volatility in here are some larger players As you guys can see they got filled on the bid we found sellers So this is this kind of a hard time to trade right now It's not an excuse. We'll still read the order flow It's just that the order flow can do wild things because larger players are closing positions at this time or managing positions Okay Yeah, I'm not getting much out of this right now If we get buyers back up around 15 and they can upend these guys then 17 and 20 still look really good here Yeah, no, it's gonna be the opposite. See the sellers here. They're gonna try to take it down to 10 MC local you were looking for that good good call Also down here, maybe eight and then maybe oh five here and our low of the day was Okay around this 100 so let's see if we can come and kind of come down here and revisit the lows here Selling looks pretty good now. It's looking better starting to shape up better Just just note again. This is the European close So it's this kind of stuff here is like almost a thousand contracts just throwing in right underneath here Okay, we haven't seen that kind of liquidity in here yet at all today we saw a couple of five hundreds but You know a thousand So that's volatility All right, and it just totally changed this whole picture here on that sell side Okay, I don't like the buying here It's gonna be a squeeze Hey, but yeah, and there we go now. It's have a 20 It's due to this this Activity here or this event In my opinion It's a big event and we see the reaction to it Okay, so I'm coming right back down to it and let's Let's see if we can get maybe a break of 10 Back down to 4100 and below got some sellers. All right, 41 10. There it is. All right, let's see them continue on down 05 looking for it and Also the low of the day here 4100 right any any questions guys. We're just kind of Have a few more minutes to look at stuff. Let me see in YouTube. We're all caught up Netflix you want to look at Netflix? Oh Yeah, yeah, you know you're asking about the correlation. Yeah, absolutely. You can correlate anything that's open Carlos so any of these symbols here if I want to make that correlation tracker, which I can't add right now due to we We just kind of shifted and changed the looks like the licensing on it Okay, so Anyway The Once once you've added the symbol though, then you'll just add the correlation in fact I there's a video on YouTube in our features and components area. Okay, and that should That should help you there Here I can show you where that is Okay, this is a really important playlist from our YouTube channel so scroll down and Here under bonus materials Hey special events bookmap traders Our order flow education course here. Someone was asking about that earlier. You'll find it here and then Yeah, order flow education features and components and and connecting to data providers These are all really important playlists. Click on this one here features and components And then let's just open this up in a new link here over here And then whoops not new incognito and then I get the the numbers here. All right, and then now scroll down Or you can do you know control F and in search for you know correlation Right and here it is video number 25 Okay, so that's how you can find it and I'll put that into the YouTube chat for you as well Yeah video number 25 There you go All right guys. Well, yeah, so No follow-through to the downside It kind of kind of dried up down here and buyers came back in Let's see if we can get a trap in here Maybe some buying trapped here back into the the range and through 41 10 on selling and then if so 4105 to test and then 4100 to test Let's see it Got it sellers. You've got it. You've got the power here There they go. Let's see them hit 105 05 Yes That's the likely scenario here. Oh, look at this. I'll go here guys We'll cover that in just a second here. Just looking for this follow-through Buyer still fighting it We'll see if they're gonna lose the battle here Yeah, so lower high looking for more sellers here 07 and then the push There they are now. Let's see if we get our push. Wow All right, we got another player here. He pulled he pulled so yeah Sellers can take this lower here to 05 and through Look at the battle raging All right 05 Traded filled You know consider consider how you want to you know reduce your risk on things like that And let's see. What else was I gonna cover? I just mentioned something in here We're just looking for some follow-through Sorry, that was it was good. It was gonna tell you something here that I'll go. Oh, yeah. Yeah Yeah, right here beauty Beauty Yeah larger player I'll go comes in the market here at 0 9 Poles adds higher Continues to pull and add higher chasing chasing chasing Stays in here at 12 and gets filled. Hey, so it's long or It's it's out of the market You know it exited Whatever it is it doesn't that doesn't matter What we want to understand is this after this transaction and the relationship here and we also know I mean we can kind of you know Answer a question about Algos like this that typically it's it's called ignition Algo. They're looking to ignite stops Up into areas here. Maybe they maybe you know, they they definitely hit some stops in here Along the way in this little area here and in here Maybe the job is done. Maybe it was to me. It looks like you know, they didn't Usually the ignition Algo has no intent to trade So if it doesn't have intent to trade this is going to pull before it gets filled This one did not and they got filled so I would assume that it's someone that really wanted to exit here and trying to get a good price Right and they're chasing Okay, so anyway, you'll see this kind of stuff like Consistently, you know the S&P You don't see it as much as clear as this When there's a lot of trading activity Because it's kind of disguised behind all sorts of other trading activity Look at the bump 105 and then all the way back up to 120 Kind of miss that one too Anyway, you guys could same stuff same ideas here The break you you can take a look at it on the small time frame and The buyers back up above it. You even got a retest here It's beautiful hindsight analysis We don't do that But anyway, just to kind of follow through with the plan though or just understanding looking for a move through The kind of value area or traded level in here on on buyers and then back to the top of the range And then potentially back up into these areas here as well All right, so anyway Yeah, the Good stuff there. I'm glad we got a little bit of the algo in I was just gonna say the You know if you look at NASDAQ or the S&P a Globex session or other instruments those algos really stick out a lot more than they do in heavier Traded with lots of liquidity instruments like that. Okay. All right guys Thank you very much We will call it a day stay tuned for Tom B coming next and We will see you tomorrow for the advanced webinar starting the same time at 10 a.m. Eastern. All right We'll see you then have a good day