 Ah, can you hear me now? Awesome. Well, nothing more professional than starting a live stream with about five minutes of a man talking to himself. That's the best. All right, well, welcome everyone. Well, welcome one, welcome all. Now that we've got things figured out and the stream is working properly, let me just say good morning to everyone and ask you to please smash that like button. What I was saying that you all couldn't hear was the answer to the secrets of life. And now I'm not repeating myself, so tough. All right, what are we looking at here? Well, the chart over here on the left is a market profile chart and the chart over here on the right is a book map chart. And I use those to kind of give me an idea of what's happening intraday when the market is making its moves. But to give me some perspective before we get into the day, let's just take a second to look at how the week ended last week, okay? So oftentimes we talk about balance and excess as sort of a range where the market is stuck inside a certain area, trying to break one way or another and we have to wait for that range to break to look for confirmation that it has broken one way or the other. So let me just zoom out to the daily here. So obviously over the last few months we've just had a lot of balance, right? The market keeps creating these areas where balance is, then it breaks, then it balances, breaks, balances, breaks, balances, balances, balances, right? And it's just balance inside of balance inside of balance and it can become tricky intraday to kind of figure out where we are and what's happening. And I would say more so now in this last little stretch than in any previous stretch. So if you just look at the candlesticks here, you can see the patterns are getting narrower and narrower, right? Well, back here we had larger candles that once we broke out we were making bigger moves, so on and so forth. And then as we get closer and closer to this direction, those moves start to get tighter and tighter. We're going less and less. And then even within just the last month and a half or so, that range has gotten even tighter. So we've gone from like boop, boop, boop, boop, boop, boop, boop, boop, boop, boop, boop, boop, boop. And we are getting very, very, very tight in here. So inside this area, I've found it's not really helpful to try to look at it in traditional balance, but instead to think about it like, what is the sort of ruling reason? What is the mechanism that's controlling the market? And to me, when I look at a market like this, it seems like it's more of a reversion to the mean than a range, right? A range would mean at the highs and the lows, we're running out of buyers and sellers, whereas reversion to the mean would be, we have this area and every time the market tries to get away from it, it gets pulled back. So that is what I believe bigger picture is happening right now, that the market is just stuck like glue to this one particular area. And really all we're doing is that tug of war to try to break away, okay? So when I zoom in and I look at my market profile chart, I can clearly see where that area is, right? It's right here. It's this area between 41.35 and 41.48, okay? This area in here is the place where the market is just stuck like glue. If it tries to go lower, it gets pulled back up. If it tries to go higher, it gets pulled back down. It just cannot get away from this node. So moving forward, I'm gonna assume no matter where the market goes, it's coming back to that node, right? That that's the momentum that's controlling the market right now is this magnet. So what happened on Friday? Well, on Friday, they tried to take the market lower, but they created an extremely poor low. Why is this low extremely poor? Because we had a gap up, we came back down and stopped within just a few points of filling that gap. That was extremely bearish to see, right? That was telling us that there were market participants waiting to do business down here at 4,100 who did not get their chance. So then the market tried to turn around and get away from that magnet once again. But what happened, it got pulled right back to it. Okay, great. So then what happens? Well, when it tries to push away, where does it find buyers? But dun dun dun, exactly the same level, again and again and again. And that to me is extremely weak. Now the fact that they came within one single tick of re-entering that previous gap, why is that important? Well, because in here, people are happy to be buyers, right? They're happy to assume the market could go up. But the second you get back inside that gap, everyone assumes the market's gonna fill the gap. So you get new sellers that pile on right there looking for the gap fill trade. You also get no new buyers in here who wanna try to mess with it. They're waiting for that gap fill. And then you get sellers, or sorry, buyers who are up in here who get squeezed. When they see us get back in that gap, they start to panic and then the market moves lower. So if they wanted to reverse and come back up to that node once again, what did they have to do? They had to stop the market from getting back inside that gap. Well, what did they do? They stopped it to a freaking tick, not once. Not once, but twice. They reversed at that exact level. So to me, yesterday's low, Friday's low is extremely weak and in need of repair. Now, that doesn't mean the market has to go straight down there and repair it today, right? What I'm focused on is this node right here around 35. If we open today and we immediately start to trade higher, well then we're in a push away from that node and I'm not gonna worry about the low. I'll stay with the momentum as long as it lasts until it starts to come back, right? But if the market opens and the pressure starts to the downside, well then I've got a very clear target for repair. So what am I gonna think about when the market opens? Well, I'm gonna think about it like a chop zone. I'm gonna say to myself, okay, so we're inside the previous day's range that increases the odds of chop. That increases the odds that the market is just gonna go sideways and play tug of war for the first hour or so of the day. So what would be the important levels for me to watch if that tug of war were to take place? You know, I'm not gonna know what's happening. The opening bell will ring, it'll start to go up, it'll start to come down, it'll go up, it'll go down, it'll go up, look at that. I don't really know what's happening. I don't really know who's in control or whether the day bigger picture wants to go up, down or sideways. So I have to look at what's happening for more information. So the major support and resistance levels that jump out at me right away is basically this large node of volume down here near the overnight low. That was also that large node of volume from Friday. That also gets us back to that magical magnet of 4135. And so that seems like a good spot for the market to find buyers and turn around and come back up, okay? So I'm looking at the resistance up here at the overnight, the upper end of the overnight range around 4153. And I'm seeing that yesterday we opened up there and the market immediately went lower and then spent most of the day and brought in most of the volume down here. So that tells me on Friday there was no one who really wanted to do business up here, right? So the overnight pushed up in there over the weekend and they tried and they tried and they tried to get people to do business up there and what ended up happening, they got smacked right back down. Okay, so that tells me that there likely are not buyers up here. So right out the gate, I've got a perfect area of potential support and resistance. I can say to myself as long as the market is bouncing up and down between these two levels, I'm not gonna try to guess which way it's going. I'm not gonna try to guess if it's going up or it's going down. I'm just gonna watch what it's doing and I'm gonna look for more information based on what happens. So what am I looking for? Well, those are my two major nodes. So that's the ones where if it can break above and find support, I would get bullish for continuation higher or if it cannot, I'd get bearish for the market to pull back down. And same thing at the bottom, I would get bullish if we could push down and find support to come back up. Or if we look below that level, come back up and turn it into resistance, I would be bearish for continuation lower. But what about the levels in between? Well, those are levels I can just watch to see. So the first one right below us is right here, around 41, 38. Also one right here around 41, 40. Down here around 41, 34. Then above us, we got some potential resistance at the base of the spike down, 41, 46. We got some potential resistance right here around 41, 50. So then I'm starting to say to myself, okay, I can't really know what's gonna happen until I break one of these bigger levels out here. But I can watch how it trades in between in these levels. I can watch what happens when it pushes up into my first resistance. Does it get smack back down? Okay, well then I just think more chop. And then when it pushes down to my first support, what happens is it just pop right back up? Okay, more chop. But what if it pushes through that resistance? Well, then I think, all right, that's a little bit bullish. Let's see what happens to the next one. And then they push up and the same thing, do we just pop back down? Okay, more chop. Or are we able to get through that one? Ooh, that's a little bit more bullish. Now I really wanna pay attention up in this note. So I'm just watching how the market chops when it hits that support and resistance. Does it reverse or does it push through? And then once it comes back, you'll see that in the center of the range, we have these little white lines. This is the white line for the overnight range. This is the white line for Friday's range. Those are what are called the halfback. So once the market opens and it starts to push up and down between those support and resistance levels, it will create a halfback. So that's the next question I watch. Do we reverse at resistance? Well, what happens at the halfback? Does it turn into support or not? If it does, that means it's heading back up. If not, more chop. And the idea is most of the signals will just tell us more chop. Like, we don't know, we don't know, we don't know, we don't know, we don't know. Wait, maybe it's starting to find support. Ooh, it's pushing through resistance. Oh my God, boom, we're through that big note. Oh, we're finding support. Okay, now I'm long. Right, it's a process of letting the market make its moves, go up and down, chop around. I don't need to be in a trade to make money every second of it. I'm just looking for information. And I'll catch the bigger break once we get above this node or below this one, okay? So as far as targets to the upside and downside, if the market is able to get above that node at 53, we look to test the overnight high at 56, support above there, test the high from Friday at 58, support there, looks for a move to the upside, okay? So if we can get above there, we go to there, above there, we go to there, above there, then we look for the really big move to the upside. Whereas to the downside, the moment that we turn this area down here around the 4130s into resistance, I would get very bearish to go back and repair that poor low that we left behind. Why? Because we have a lot of liquidity. All the stops from these traders, all the stops from these traders, all of the buyers that are waiting at the gap fill and the new sellers that will join once we enter that gap, all of that liquidity is waiting down here. So when the market opens and we start the tug of war, I feel no need to know which way the market's gonna go. But once I get that signal that we're going lower, it's a very high probability trade to get to that repair. And then once you're there, gap fill. Any questions for me so far? Good morning to Pedro, Harjit, Armando, Mark, Maya, Chilin with Dylan, Phillip and Scalping Strategy. Welcome one, welcome all. Scoob all in the house. Good morning to you. Jay is here. Well, let's use this time we've got to pop on over and take a quick look at the NQ. Why not? Okay, so the NQ is in a little bit of a different position than the ES. Let's actually go ahead and zoom out and we'll look at the daily. So on the ES, we're in the middle of that balance area, right? So we are, like I said, in this zone where we're just keep getting pulled back to the middle over and over again. But the NQ is in a very different place. The NQ tried to break out of a balance, right? So it had its balance area here and they tried to break out last week. Now, what happened was that on Friday, we got a signal that that breakout is failing. What is that signal? Well, we lost the momentum on the daily. We had been making higher highs and then yesterday we made a lower low. On Friday, we made a lower low. So that meant that that momentum is gone or potential momentum on a breakout is gone. And so now we're looking at balance once again. And so as always, when the market creates excess there's two ways to balance off that excess. You can either go sideways at a higher price or you can pull back down with price. So to me, what's happening now is we are either going to continue to balance sort of on top of that previous balance area making a new one up here or we're going to pull back down into that previous balance which will trigger a move to the opposite end. So the NQ is in a kind of a different position than the ES. However, intraday because we are opening inside of yesterday's range because of the overnight inventory being pretty neutral we are looking at, yeah, overnight pretty neutral. Yeah, we're looking at a chop zone exactly the same way we would look at the ES. So for the NQ, I'm looking at this area right here around 13, 440 as the upper deal or no deal level. And I would look at this area down here around 13, 360 as the deal or no deal level. And I would say anywhere in between there, it's just chop. They can grind it up, they can grind it down they can grind it all around. It's a very big range and they are likely to do it. So all you can do is look for support resistance and then how the market reacts to the halfback until you break above and then you look for continuation higher or you find resistance below and you look for continuation lower. Okay, so both markets are opening in a chop zone. They wanna chop it up. Good morning to Andrew G, Alyssa, TV, Ismael, Ross and NAP. Ross says, do you still count poor lows and highs on the overnight session into the cash session? I'm assuming yes. I really don't actually know. So for example, the overnight has a poor high that doesn't jump out at me at all. I don't care about that in the least, right? I'm much more focused on this node right here. So from that high, there was a lot of resistance. So if I was looking at it purely as a poor high, I would think the market would need to poke above to repair it. But instead my assumption is if we poke above, it's because we already have a lot of momentum and that momentum will be required to get through this resistance. So I'm not gonna even think about a poor high. I'm gonna focus on the node and the resistance. What I am paying attention to on the overnight range, where is the support resistance? Where are the major nodes of time and volume that stand out at me? And also what is the overall inventory doing? So in this case, it's pretty neutral, right? We closed on Friday down here. So the overnight went down, they went up, and then they came back down and we're pretty close to where we left. So the overnight inventory is slightly net long, but not that much. Whereas if like we to close down here and we were opening up here, it would be extremely net long. So that's really the main focus I have is the range and whether it's net short or net long going into the open. Scoobal says this daily looks really weak to me. Which daily? The ES on the daily? Oh, the lows? Yeah, dude, those lows. It doesn't get any weaker. Scoobal, you must have been late, dude. I went on a whole rant about that. It doesn't get any weaker than this. It's the weakest low I've ever seen. You got a gap. You got a market coming all the way down and reversing just a few points below entering that gap and then doing it again, twice in one day. So yeah, extremely weak low, increasing the odds that the market will need to come back and repair it. Repairing that would get us back in the gap, which would increase odds of a gap fill. But I'm not gonna get overly bearish because this node could easily act as a spring bleak to shoot us right back up. So for the time being, I see it as chop and only if we start to break below and find new sellers, will I look for that move to the downside. But if we do, it's a great target. Cause it's a chop zone. It's where they chop it up. I'm gonna put it over here. Could I make this any more confusing? I gotta do like different colors or something. All right, market is open. The chop has begun. So we don't know if it's going up or down today. We don't know if it's going nowhere. It might just go sideways all day long. But we will know based on how it reacts at these different areas. So each one of those arrows represents a potential support or resistance level, a potential area for the markets who flip and reverse and head the other direction. And so we'll see where does it do it? You know, is it the first level that it flips and reverses or can it get to the second? When it does, does it find support or resistance at the halfback? That's all there is to do. Sit back, relax and let them chop it up, drive each other mad and we just sit back, relax and see what happens. We got weakness on both sides of the market that increases the odds of more chop. In 40 says Charles, it's established by the market profile approach that weak and poor lows or highs look to be filled due to liquidity at those levels, waiting to be filled or something, but why? In fordity brother, it's the age old question. Why do gaps need to get filled? They've written whole books on it and they just can't figure it out. It's a weird thing. Nature abores a vacuum. It just does not like that there's a hole that needs filling. So I cannot explain why it happens over and over again. I can just explain that the pattern is there. That when you leave behind weakness, it increases the odds of repair. Why? I don't know. Humans be humans. Okay, so we had our first break lower. So that gives us an opportunity here to watch what happens at the halfback, just above 41.40. Does that act as resistance or do we pass right back through? Resistance would be a little bit bearish, passing through, more chop. Maya says, what got me into trading? That's a great question. Well, originally I wanted to just learn how to invest. Just wanted to learn how to make, you know, turn my money into more money. And then I found out about Bitcoin. And I became a gambler. Uh, it was the crypto buzz of 2017 that hooked me. And I lost a lot of money. And then I decided I want to learn how to do this, for real, instead of just gambling. Okay, so we got new sellers. That is a little bit bearish to see. All right, so same as before, we found some support. What happens at that halfback? Does it hold as resistance? Once again? Invictus says, I'm looking for this area to hold. If we go back through 41.42, then I will be going long. Yeah, I'm fine with that. It's just, I don't know how far you'll get once we pass back through 42, right? They could take it to 45 and then smack you right back down. Or maybe 46, the base of those single prints. Now, if you said you were going long in support to test the opening price, to like take profits there, that'd be a doable trade. Not one I would do, but doable. But I have always found, trying to guess for continuation while you're still inside the chop zone, particularly if you haven't been given a signal yet. Right, so pushing back up through 42, maybe there's your first signal. But then what's the next one you need to see? Support at that halfback. You need to see that halfback hold before you can trust it. Otherwise they'll poke through, sure. Just to chop right back down. Okay, once again, new sellers, bearish to see. All right, so now we're back to 35. We're back to this big magnet that's been just tugging on the market every time it tries to break away. So if they wanna take the market higher today, they should find support in here above 41.29 and turn around and send it back up. If we get new sellers down here, well then that magnet pushing it's, choosing his next direction, which would be bearish to see. To support or not to support? That is the question. Dylan says ticks are not bearish yet? Nope, just came back to the zero line. No bigotty. Okay, so here's that opportunity to test halfback. Previous two times it was smacked down. Will it be smacked? The third. Ooh, smacked a third. That is bearish to see. Someone wanted to choose some stops up. Mark says no iceberg there? That's odd. No, there was no one stopped out. It was just size out of nowhere. Someone went short at market. And again at the exact same location. Someone's getting bearish. So once again, three times in a row, halfback holds. That is a sign that the market wants to break lower. And now we're back to test the support once again. So this is the buyer's last chance. Seven mile reach says 28 likes, sheesh. How come no one likes these insights? I have the same question. Is this not helpful? Come on, smash that like button. All right, back for round four. Does the market get slapped down again? Okay, so now the ticks are telling us that we have new sellers entering the market. So the market pushed down below that halfback, looked for support, tried to get back up through the halfback, couldn't do it, looked for support, couldn't do it, couldn't do it, couldn't do it. And now we're getting new sellers that are beginning to pile on down here at the lows. That is bearish to see. So I see this little node right here at 41.30 as the end of the chop zone. If that breaks, I look to test the overnight low and then monitor for continuation lower from there. But if they can hold, they'll head back up for the halfback once again. It becomes less probable though as the ticks begin to work their way below the zero line as that is a sign of momentum to the downside. So the market came back to 35, came back to that big magnet we've been talking about and then what's happened since, momentum to the downside. Increasing the odds, that's the direction they wanna take it. So I'm not fully bearish yet, but I am certainly getting there. All right, well that was support stepping into my surprise. So now we're looking to test resistance once again. Could be this node around 35 or the halfback at 37. Scooball says support, it's more new selling at the lows. Well, not while the ticks stay above the zero. What happened? We came down to this price and then boop, they popped back up. That was buyers. So it is support right now. Just not much, not much support, but they're trying. I have a feeling if I look at book mat there's gonna be bots everywhere or there's gonna be icebergs everywhere. Oh, not too bad. Okay, so this time around they found support but they couldn't head up to test resistance. That is bearish to see. So I am now officially bearish for continuation to the downside. So I'm first looking to test the overnight low at 41.26. Look for new sellers there. So what does that mean? It means do we just poke below and then head right back up? Or do we poke below and then turn it into resistance? If so, I look to target repairing that poor low we left behind yesterday. If we look below and pull back up, I assume we gotta start some more chop. But for now, they have the momentum. So I am monitoring for continuation lower. Got 122 people watching, but only 52 likes. What's it gotta take for a pirate to get a thumbs up over here? Are you ready to push that thumbs up? Let's go. Show book maps some love. Norado trading, good morning to you, welcome. SP says they love that 41.25. Yeah, I mean they love this 41.35 like it's their best friend. Like they wanna marry it and live happily ever after. Corbin couldn't leave your likes in 69, you bastard. Wow, exactly 3,000 contracts. That must have been taken profits. They must have sold at higher prices. Oh, I just remember this stream only goes for the first hour or only goes till 10. So it's over, sorry guys, it's over. You're all alone once again. So giving you insights moving forward. Okay, so what did I say today was my focus, right? My focus today was basically this large node that the market has created right here around 41.35, okay? What the market is trying to do is get away from that mode. So the chop zone this morning was the market trying to pick which direction it wanted to move away from that node because it chose to barely push up at all and then push lower and bring in new sellers and push lower and bring in new sellers and push lower and bring in new sellers. Because of all of that, that in my mind increases the odds that the momentum is to the downside and that we're gonna continue that process. Bring in new sellers, bring in new sellers, bring in new sellers, okay? What would change my mind now is if the market was able to either pass back through the opening price. So get back up through 41.43 or we were to start one time framing lower. So let's say the C-period prints and takes us down a little bit but then the D-period prints and it brings us back up above the C-period high. I would need to see one of those two signals. So either passing back through the open or cessation of the trend to convince me that the momentum has changed, okay? So even though right now we're pulling back up, that's to be expected, right? We know it's gonna be choppy but what we were looking for in that first half an hour was some kind of insight as to who is going to win once the chop is over, right? My opinion is it's going to be the sellers that are gonna win once the chop is over. I don't know if we're gonna head straight down this morning or if we're gonna go sideways for a few hours first but I do believe the highest probability will be lower. And like I said, either cessation of a trend or passing through the open would change my mind, all right? Best of luck to everyone. If you're a member of the brigade, head on over to the private stream. If you're not a member of the brigade, you should consider joining. It's only 10 bucks a month and you get to hang out like this every day for the first hour. So we'd love to have you. Head on over to piratetraders.io for more information. Thank you kindly and we will see you here on Monday morning. Members of the brigade, let's set sail.