 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map And we do the live analysis Monday Tuesday and Friday to the book map live trading And then on Wednesdays we have the live trading with Jay trader stocks trader and yesterday Thursday. We have Or had Scott Pulsini futures trader 10 a.m. And we'll have them all again every Wednesday and Thursday And then our live forward-looking analysis. Well, although it's not trading it is insight to where price might be going next Okay, it's not just Looking hindsight and saying oh look at this and that it's like okay. Well look at these things and now we think due to these factors We're gonna give some insight to where we think price may move next This way you can apply what you've learned from our educational course In the live market and you on top of that you have these other traders to peek over their shoulder with their very Specific way of trading. Hey, everyone trades differently. So that's why we we have the education set up in this manner All right, let's go through some disclosures very quickly And then we're gonna jump right into the S&P many or whatever it is that you guys want to 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 to substantial risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results. All right, let's jump right in and take a look here And see what's going on all right, so I mean boy some some big moves some interesting days here and Also today, okay, here's 4100 the figure here And you can see some beautiful lines in here of of liquidity You can see these areas of high liquidity on the on the offer up here 4150 we've already gone 50 points here since Well, we had non-farm this morning you can see that and and we can cover this it for those of you who are new in here We always cover this Or we covered it many times This area around here to see how it's dark see it's kind of black in here You can see them pulling liquidity on the on the offer up here and pulling liquidity on the bid down here Where do they stay in the order book? up here and down here Where did we go after the and it was a bullish report? It was kind of I mean it was there was there's it's a multi Faceted economic release, so we're looking at you know multiple data points here But we went up to the liquidity that's in the book up here Okay, in fact they pulled it and then Ended up up here at this area here Nonetheless, this is as far as we went 4150 and then we come right back down and where did we test liquidity here on the bid? Okay, and we've also now after digesting this release You can see what happened. We come back down and trade into and through 4100 all right, so now next areas of liquidity all right. We're looking to see And now we're just looking at current price action We haven't looked at the bigger picture yet, and that's really important to understand because like Right now we're just going to cover this and we're going to zoom out and and look at kind of bigger picture here The boy this Kraken is just bugging me. I'm just going to turn it off for right now. Okay All right, so yeah, there we see sellers trading down to high liquidity Here at near 4050, but look at them in front of this area here, and this is bullish Okay well Let's let's put it this way if they're bidding up in front of this liquidity It is more bullish and the move here is bearish. Okay, and we are bears in here in this move Because you can see from 930 onward they've been selling off. Okay, so sellers are in control of this market Okay. Now this liquidity down here Uh, although we're still bearish here This has a bit of a bullish a more bullish slant than if it were behind here behind 4050 Okay, if it was behind 4050 it would be more bearish Uh, so this is showing that there's interest in front of this higher liquidity that was already been in the book Uh for the entire session here as you can see Okay, this is how we can gauge longer term high liquidity, uh and start to understand The the actions um in front of it or behind it etc. This is we're gauging market Consent here or intent uh to trade Okay, so it's not a surprise that we're bouncing now and we just made a higher high here We made an equal low And we just made a higher high here Okay, now we're just testing this swing here Uh, and then likely we're probably going to get you know, I imagine a sell-off or at least maybe a retest back down here And we're just looking at market structure only right now. We haven't really covered much at all We're just looking at structure Okay, in fact, let me take some of these indicators off the chart to simplify this for the moment All right, our stops and indicators on chart take that off. Uh, so we're testing up to the vwap right here Okay, all right, so uh, and then there's some liquidity up here around this 87 level Right now. I'm looking for a pullback here. Uh, maybe 80 we're 83 looking for 80. Uh, maybe maybe back down to um Uh 77, uh, you know, we might come back down into 70 here There's some liquidity here and uh, what else is this? down here For you volume profile guys, what else is down here at this 40 70 level? Good morning techie girl mc loco alan The the um, uh poc. Yeah, exactly the high volume node down here Okay, now, what does that mean technically? Okay, and what does it mean? It because we're going to strip away the meaning here Uh, I'm looking for a pullback and we're not even getting that is it's uh This is um, kind of funny funny move here But we're trading up to this area here, which is a high volume node up here. All right, so I'm now I'm I'm still looking for a pullback here They're just kind of a testing backup above it here, but I'm looking for that pullback here Now I'm looking for a pullback to vwap here Okay around 83 earlier. We're looking for 83 Uh to to move back down here now. We traded through it. So now I'm looking for maybe a bounce off of it Um, anyway in general in general, we're still we haven't gotten into the details of the order flow whatsoever yet Okay, we're just kind of understanding market structure Uh, and we're understanding ranges and we're understanding also like where there is a lot of trading And that's it and that's what volume profile shows Where there is a lot of trading Okay, and this cluster and this sideways consolidation here the most trading was around here Okay around this 40 90 level a little bit below it All right, that's it. That's all we're looking at right now Uh, and uh, and here's our pullback. Okay, and it looks like they're going to go a little deeper here Uh, as well. So we've already traded back through 83. So we're looking for maybe the pullback now to 77 or even back down to here 70 Okay, so uh, just starting to understand again, we're looking at just bigger picture only market structure right now In fact, I'm just going to take volume off of here right now And we're just going to look at best bid and offer streaming and look at liquidity in here Okay, because we don't want to confuse things here at the moment We're just looking at market structure and it's you can see how important it is to understand market structure All right, so Point made on that one uh, and um, uh, let's let's jump back here. Let's take a look at our candlestick chart here, uh, and higher time frame Uh, here on the daily chart on the left in the middle We have an hourly chart. Uh, and then on the right hand side have a 15 minute chart so, uh Let's take a look at what's going on in some of the levels here on the higher time frame Okay, now with all the volatility that we saw this week big swings big moves big moves up and then back down, etc We can look at this again and again and again Uh, we see the same things over and over again These swings up here were revisited Okay, several times this week, uh, and uh, and you can see the uh, uh, the reaction Uh, it's just banging around between this big range between 4,300 Uh, and then uh, 4,100 basically. Okay. In fact, we even tested that today All right, so uh, and we're below it now Okay, so where are we going now? Okay, well, we're going to this swing down here, which is 40 57 We even came really close to it already All right on the daily chart on the daily just uh looking at the candles in here now, unfortunately I don't have um, uh more data to show you on this daily chart. Uh, we looked at it. Um, well, I can Get it up here quickly here. Hold on just a minute here I'm just going to look at, um, uh, a bigger picture, uh, daily chart here I want to show you this Uh, in fact, let's look at maybe the uh Here's the daily Yeah, daily will work That's fine. That's plenty of data. All right. So, you know, we're looking at these areas down here okay, we You know, we go through this every day this the same kind of analysis we see in the candlestick charts We're looking at the same thing in the order flow. We're just getting we're getting very very limited data in here in the candlestick chart And we looked at this swing down here And we're looking for a retest back down into that area here. We didn't get that um several weeks ago It retested this area and we saw we found buyers and we came back up and and tested up Back up into like 4600 just above it and then we collapsed This time we broke we we bounced off of here Okay off of these swings once or or twice in here And then uh, then we broke through it and where did we test we tested the next swing? But then also we're looking at these areas here Okay, and we we we talked about this last week. It's a zone Uh, and uh, we look at the swing here, which was around 40 58 or 59 60 somewhere around there and then this one down here is 40 34 Okay, 32 somewhere around there. We can even go a little bit lower here Uh, even down here to uh and break. Well, let's say at least test down to maybe 4 000 And that would be another area where it broke out from here We're looking at at consolidation and then when buyers take control here And move price higher now, how do they take control in here? It's not it's not too decisive in here And it's it's a lot more decisive in this area here Okay, a lot more Look at the strong move away from the area Okay, so there's a lot of buying You can see we've we've tested gone below. We've accepted below etc But we look for support in here on the buy side And now we're testing back down into these areas here and on this daily chart I'm looking to see if and then this is momentum here So I'm I'm very curious to see us come. I think we're going to spike into and through the lows here and then Maybe accept below it here and then we'll probably get a bounce here, but we'll see All right, we'll see if we're going to get a bounce back up get everyone going short In here, maybe maybe we'll trade back down into just about this 30 level it's around 30 somewhere around there And then maybe we get a nice bounce All right, so Anyway, that's the bigger picture Right structure the bigger picture in terms of market structure Now what we want to do is we want to look at the volume within our market structure All right, so you can see what we did here We we were looking for this move and a retest back down to potentially 70 guys. Where did we go? Okay, right to it, right? It is due to market structure Uh, and um Yeah, it's playing out really really nicely here really nicely now We were talking about that in terms of market structure Uh, now let's take a look here at volume within the market structure These are really it's this is not complex stuff. I know book map looks complex for a lot of new traders Uh, it is so simple and straightforward And we're just looking at where the transactions are happening very precisely In the market structure. That's it. In fact, let's take the heat map off for a moment here and just simplify this Okay, we have vwap here as well But that's really the only indicator here We could take that off too But i'll keep it on for now. All right, so now We're looking at what does the volume look like in here, right? Well, we can kind of see trappy volume in here And what I mean by that is well look look at the sellers come in here below vwap or below See where that it broke out here Came back and then sellers took control here And on this smaller time frame at least Okay, and then we got a retest back here already immediately To where they dropped it here Okay, these guys there there's all sorts of strategies I'm alluding to that are so worthy of study. This is a low volume pullback to this node here Uh, and then we see continuation back down to our high volume node here Okay, so there's all sorts of strategies to look for uh, and this this offered a nice pullback here Uh, and then continuation uh to the downside now just for that move Okay, and then it it it tested this high volume node in this in this higher time frame And it's not that high of a time frame either. It's just this cluster of volume and transactions Okay, now now we're above it here and look at the volume above it. Okay, you guys can see how these sellers are likely Fuel and stops getting triggered up here now I don't see many stops yet, but I'm looking for them to break it right here And maybe trade up into 4100 because I think we're going to get a nice stop run here They go looking for buyers to push this Uh, and let's see if we get a lot of stops here. We already see some it's this red line down here looking for more Okay, anyone that's short in here Below vwap. Well, they're you know shaking in their boots here All right, let's see the buyers here push it And let's let's see the stop run. Okay Up to 4100 And that's about an eight point move Okay, we're already at 97 and a half And still looking for more All right, now this is great. We're looking at volume. We're looking at a big figure here. There we are at 4100 Okay, that was the target All right, uh, now we can talk about trade management as well here Uh, how would you got involved in here? Uh, how would I would be taking some off? Uh, some partial profit. That was my target Okay, now there's a big piece that's missing here though Uh, where is the liquidity? Where's the other side? We don't know where this is trading into who's taking the other side of the trade All right, so let's turn on the heat map. Let's get insight to the buyers or the supply and demand in here Okay, beautiful stop run guys. This is what we're looking for Uh, and that is playing out picture perfect Okay, we would and we would assume that or start to look for this to be a potential stop run or lots of stops being triggered in here Uh, good morning MC local, uh, you want to look at maybe some, um Okay, you're talking about large cap, uh relative strength. Yeah, great Well, that's helping drive this higher. Okay, uh, and uh, wow, what a what a day It's already I mean like looking for it to come back up into about 40 41 20 or so, uh high volume node up here. Okay, just testing areas All right, so we're just about there and then I would I would assume there's going to be some sellers up here and some profit taking up here This is the target a lot of traders are looking for that trade volume profile Okay, now and why why why are these targets? Why does this work? Uh, it's not because of some elaborate like oh volume profile and market visualization of like, uh, you know, um, Uh, uh, this is some kind of, um unique strategy that, uh, you know, uh, Stadelmeyer developed, um, uh many years ago Okay, it's about the auction It's about where it traded before this is an area where a lot of traders agreed on price Okay, that's why that's why you can trade up here and that's why a lot of people look for It to trade to this area and they're going to take some profits All right, and then let's see if we can get a move right back down to Maybe well bottom of the range here, but I would be looking for 40 100 Maybe even back down to this volume profile here Uh at 40 90 Okay, so Uh, maybe it just fills in this whole area in here. Uh, didn't really auction too much in here Right now. I want to I want to tear away though from this whole idea about volume profiles, etc Because it's really about understanding the auction This is in a lot of cases. I think this is kind of a distraction uh, and um, uh, we want to understand, um, market structure and, uh, This is a part of market structure however We want to understand it in terms of traders We want to understand, uh, uh, why it can trade up here Okay, and then why they why would we assume that there would be a pullback like this after hitting this? 41 20 Okay, so I was looking to take a partial profit up here at 4100 It just continued on up another 20 points. I mean 20 points guys Uh, this is great action Uh, great volatility uh in the s and p So, uh, I mean it was just an eight point move on up to here Okay, uh, wonderful stuff Uh, nice beautiful stop run unfolded just all the way through stopping people out multiple times here And then uh, and then we're looking for the move back down after 41 20 Okay, and the first one would be we said kind of bottom of this range here Uh, and then it's you can see it's filling it in here But I was looking for the figure the bounce off the figure here or retest to the to to this Event okay, again, it's order flow. I know Uh, but don't think of it in terms of like oh, it's because there's a big heat map here No, it's about what happened at this area. Yes high liquidity on the offer It got filled buyers took it on and they traded through it This is the event Okay, it's the figure here Because a lot of traders are putting their orders around the figure. That's the reason that this is working It's the only reason that it's working Is because there's orders around it And traders are reacting trading around it All right, these are the reasons behind why some of these things work All right, so uh, yeah lots of lecturing today Uh, anyway, uh, I just think it's important again and again to cover why These things work It's really all about the order flow The order flow is the the basis the foundation And then from that foundation we can look for many different things To work out Okay, look how we're retesting this event here Up at this kind of 16 level And getting a little bit of a sell-off here right now Okay, it's because of this event here. I would assume it's also a high volume node here All right But uh, and that high volume node started to exist because of this event right here It was up here right earlier at 41 20 This event here Changed that perspective on the high volume node And now it's at this 16 level Now traders that that trade volume profile are just knee-jerk reaction to That this area because it's a high volume node, but it's this event here And that's what created that high volume node All right Is this Is this making uh, if I can get some feedback in here would really appreciate it. Um, uh, what do you what do you guys, uh I mean is this all clear Is it not clear Uh, do you want me to spend more time on it? Um Yeah, I would would love to hear because, um the uh And let me take a look in youtube as well Oh greg, uh, my vwap is setting is is different. Um, probably because I have it. I have it reset. Um on the Uh on the cache open Okay, yeah, it's going to be different. I don't have the overnight data in there I should have uh, I should have let you know earlier about that. Uh, anyway, uh, yeah, let me just see, um Okay, you you like it. Uh, um, I'm so bad I don't want to sound sound too pedantic in here. Uh, and that we're, um, you know lecturing over and over again But I mean, I just think it's so important like Once we understand why things are happening This will free your mind to be able to look at the market in so many different ways Okay, all right clear clear is water. Um, what kind of water mclocal? Um Oh good good. Okay. Thank you. Uh, I'm so bad. So, uh, uh, lots of light bulb moments here. Okay, great. Um Okay, yeah, I mean like, you know, I don't want to like boy if you if you if I see some eye rolls Uh icons in there then I got the message. Um, but uh, I just I really, um I think one of the nice things about book map and the in our education and guys I have some new tools to show you soon that will make it even It'll make it crystal clear what's going on in these markets crystal clear We're talking about stop runs and order book sweeps, etc Well, we've got something coming out here soon And that's all I can say and allude to Right now, but you really want to understand what's going on in these markets It it the transparency is unbelievable To be able to understand precisely Okay We can see where people are getting liquidated All right, uh, that means accounts closed margin calls And this bashing around You know, we talked about this so many times before those kinds of days like it's even in here today Okay, we can kind of see it here. It's not the greatest example, but look at the volume here And then look at the volume up here at the extremes Okay When we get to the liquidations indicator, we'll talk about it but You know, we know there's stop runs in some of these areas not today so much I don't see so many stop runs in here, but a lot of these stop runs and these order book sweeps Are attributed directly to liquidations as well And this is just that's what's happening And that's what is going on in these markets and and you can only I don't know how you can help but not like Like get that drive that meaning from it To understand and in the clarity of like, oh, okay, so All of these moves back and forth in here. That's what's actually happening Yeah, I mean it's it's amazing Uh and instead that is so foreign to a lot of traders To start to understand Some of these these elements or clusters or activity in here In that meaning instead of looking at oh, it's over it's over bought up here What does that even mean? It's over bought It can stay over bought forever. I mean like in an indicator so like but if you understand liquidations Or stop runs and then retest back up here and it can't get through it Yeah I'm looking for sellers to come in drive it to the middle And then see if we can even get back to the other side of the range here You know 4105 I mean, it's just amazing. It's amazing clarity Or understanding Transparency of what's going on in these markets and how they actually operate And this is something unique to book map education All right, so uh and and it it's it's not just We're we're educating on these things, but it's the tools the tools will show you Okay, and uh What what what's really going on in here? All right, and then we're going to extrapolate the meanings from that Yep Right. I always bash a cvd. So look at our move back down to 4105, you know We were just just talking about that kind of like nonchalantly Uh, well, okay. Well, here's here's our move up into 4120 Hey, we're looking at 4116 and then it went one more higher here And then we're looking for the stop run down here on the other side here And see if we can get into this liquidity here. This would be the Um a potential target here All right There's another like 15 point move basically Okay, now you probably could have gotten you're not going to get 15 out of it You probably could have gotten uh, I don't know here from 17 on down to You know 06 could have gotten 10 or 11 out of it Not bad not bad at all within two minutes Two or three minutes That's amazing Anyway, sorry I'm just I'm really excited about some of these new tools in here And uh, yeah, uh, I I just need to leave it at that for now. We'll get to them. All right Some exciting stuff though all right so Let's see here 05 back to 0 1 or a 4100 All right, let's see if sellers kind of come in here and try to Move it back down to our our 90 level here Uh, and uh, yeah, the market structure. I'd be looking actually for the top of the range here around this 94 Uh, however, we've been these have been trading really nicely Uh to these kind of high volume nodes or most traded levels So a retest back down to here 90. We already see liquidity coming in here And this is a nice thing to do with book map as well Is starting to understand uh, also Your targets like verify them Uh with with liquidity What do other traders think? Okay. Yeah, they're going to provide they're going to be buyers down here, too Great. So now if if you're volume profile guy, you're looking for it. Great You've got liquidity here in the order book already lined up So that should confirm, uh, this idea these concepts and your trading now. That's where you go back and you study it Uh, and uh, you look into it and uh, this could be a fib level down here You know, it could be a floor trader pivot. We know they're I don't know if the vwap is accurate or not, uh, but um It is not I know that actually um, but that's where my vwap is uh, and um, uh Yeah So far it's actually been behaving pretty nicely We see the move above it bounce off of it and then the move forward here as you guys can see Or upward All right, uh, let me get to some questions here Yeah, Marco the housing mark has been overbought for forever uh Well, we've been in a bold market until just recently. I mean like I mean you could still make an argument like You know, I think on the weekly chart Uh That's a good question. I Let's see if we are On a weekly, uh You know Are we still in a trend? Well, you can see on the weekly how it's it's just testing this here. It made a lower high here Uh, and it's making a lower low now Right. Yeah, maybe maybe really on the weekly chart It would be bullish or bearish if we got down to this kind of just below the figure, I think Let's see if we can trade down there today Okay, uh, we're looking at bigger picture scenarios That would that would be the bigger picture scenario. This this is during this time of day Uh, let's see. It's 10, you know 10 33 or something um We always get this kind of pullback on this this, um time of day and then, uh You know then the the big trend or continuation Uh Nice big stop run to the upside and then maybe maybe we'll even get back up here above 20 Uh and above the uh the swing up here At the cash open, uh, just test this area here And then maybe we get our big move uh to the downside it kind of rolls over in the afternoon Uh, and if you guys, um Want some more insight to that come to the uh tom b Webinar or in discord or stream and in discord Uh and um You'll uh, he'll he'll go for the afternoon. All right and go through a lot of that Information or price action All right, um, all right. So here we go. Uh, we're below 100. We're seeing sellers come in looking for them to push it down to 90 Okay, it looks good Looking for them to continue here We have a flip of the order book here high liquidity on the bid flip to the offer Uh, and uh looking for yeah 92 90, uh to test Okay for price to come down to these areas here Lots of concepts. We've already covered. I mean, we talked about Stop runs potential liquidations. We've talked about these areas of Uh, kind of trapped volume or maybe not even trapped volume doesn't have to be Uh, we look for the stops after To verify the trap in this case. We don't really see much of a stop run after right? So, uh, this isn't really, um, I wouldn't refer to it as a trap volume here Um, uh, in fact, uh, maybe it's kind of more like, um, um empty volume if it's a stop run There's there's some stops in there for sure Okay. Yeah. Yeah, maybe it's just more kind of like, uh, well, you know, we've got, uh, uh seller Buyers, uh, but they're exiting on their stops. That doesn't mean Uh That they're they're new new buyers initiating positions in here up up at these areas here Okay, so that's why we get these rotations back down as well Okay, so just about at our 90 level here guys Okay, finding some profit taking some buying stops already All right, let's see if we get sellers right here around 93 or 94 and then the move back down. There we go Boy is quick today is like butter guys. This is these moves have been really really nice I mean just smooth very very smooth This this is I I love it when the s&p operates like this Um, I you know, there's other webinars when we don't get this kind of smooth activity. Look at how just beautiful this is um And it's so rotational It will rotate back and forth and it's just like, uh, we're looking for the move. Nope Uh, we're looking for the move. Nope and then, you know, finally it does it and and and uh, it's That's very Typical s&p today is not like that at all. It's it. This has been really really nice and smooth Okay, and these have been nice big point moves as well Okay, I I just love it when it's like this. All right, so now we're coming down to 80. It looks like Uh, and uh, uh, maybe even back down to 70 here or it's it's moved up a little bit here Uh, we can just look at this swing right here. So around 71 or so Okay, see the sellers below it and looking for Looking for 80 here might get a pull back to vwap here 90 and then continuation Uh, anyway, uh, yeah, beautiful stuff like as as many of you know, you guys have been in these webinars for a while. Um, we Uh, typically well for years, we were looking at just the nasdaq because we didn't like the way that uh It just didn't demo very well. Um Due to the uh rotational aspect of the s&p. So we'd look at the nasdaq instead Which is you know, I'm sure just on fire today I'm really curious about this. Um, uh today Let's let's take a step back here because like um, uh, again and look at the kind of higher time frame Um, these can be really kind of it can be very challenging period in the morning here on fridays Uh before we get the big move like like this move here like who who wants to buy This market right now. Well, you know, uh, it was just a beautiful stop run Uh, a lot of people are short All right, so uh, uh, you know looking to see if we get more buyers back down here to bounce off of this And not and come back and even go above 41, uh 20 And maybe go above the the cash, uh open here of 41 30 somewhere around there Heck maybe even like uh, uh, 41 50 but In general Because the moves are these are our big nice, uh swings. Uh, we can get them Uh, but the bigger picture here Okay, the momentum Down uh day yesterday down day today Okay, testing these lows down here All right, like we we covered on the daily Okay, and we looked at even the bigger picture here on the on the daily here. Oh, this was the weekly Now that'll work fine All right, so in the weekly these wicks down in here So we said, uh, yeah, it was a range here 40 Uh, it was like 58 60 on down to about um 30 or so something something like that Also like very much the the figure or even below the figure uh down here 39 60 or 70 somewhere around there On the weekly but look look at this on the weekly guys This is exactly the same things that we just covered Uh, we're just looking at, you know, a lot less data here Uh, understanding who's taking control pullbacks, uh Big pullback here When above these swings And then look at the sellers come in And look at them push it I'm looking for continuation big today or this week. I should say Big pullbacks here, uh, but look look at the weekly candle here All right, so um, uh, let's see if we can get the sellers to really really push it here All right, that's one of the scenarios though. There's just one scenario We're going to go through the opposite scenario and that would be uh, maybe we close back in In the range here for the week and maybe we come back to about 4200 Uh and close kind of in the middle and and not get much clarity here at all Okay, that's why we look at these we go through the scenarios. We look at the order flow or the market structure first Okay market structure first Uh, and then we look at the order flow Okay, the the the transactions within the market structure and also the play Of the supply and demand within the market structure. All right, so let me see here Okay, you want to take a look at apple mc loco. Sure Can you comment on the liquidity down at the 40 50 level? Sure um Longer term high liquidity at the figure Down here looks good Boy, I mean, I don't know what else to say like yeah, this is an important level obviously Uh, it's a lot of liquidity And uh, we just don't see sellers yet going for it Okay, in fact in fact when we started the webinar Okay, we were bearish And we keep we stay bearish until we say see something different Uh, and then uh, uh, but we were noting here Uh that the 40 50 liquidity down here And how they're front running it here and that has a bullish slant to it. Okay, we're still bearish here until we see something different All right, uh, and that something different happened in here Okay, first off we had this move here now. This is classic Uh in terms of um potential reversal Sellers hitting high liquidity buyers on the bid absorbing or staying in the order book getting filled Retest back down here not too many sellers In fact more buyers in here All right, and we also had a cluster of buyers in here. This is classic because here They broke the little swing here now. They didn't break this one And so we're still bearish Because this was an equal low Uh, but we're starting to see they broke this one and there's there's some buyers up here So yeah, it could be trap trap volume here. We'd see the stop run here. However, it transacted up here Okay, it can auction up here So we get buyers interested. We know that they absorbed we know they're on the bid. They're in front of the 40 50 uh liquidity okay at 55 and 60 Uh, and we don't get sellers Are not many And so we're looking for buyers to try to trade it back to at least here like 75 or so Okay, or you know this liquidity up here, maybe um, and uh, because we already broke this and we made an equal low here So this is starting to Uh Change in its market structure and trend Okay, and then here's where the buyers take it Okay from 78 uh, and then they they trade on up to vwap and then or this this um Some of these swings in here are market structure and in fact even this structure here And they trade through it Okay, uh, and then we were looking for that move back up to here uh, and then um Yeah, they continued on and then we're looking for the pullback here Okay, we're we're so we saw all moves in here. We're looking for that pullback to vwap Then if we also mentioned here at 80, uh, and then we also mentioned here at 70 Okay, because of the high volume node or where this kind of move You know where buyers in the auction basically have taken control All right, so we look for pullbacks into these areas here Uh beautiful moves, uh, and then we we bounce back up through it. We're looking for R90 we're looking for a 100 And that played out nicely talked about taking profit up here Uh, and then uh, it's like wow, okay next level. Well high high volume nodes, uh, I think 16 or 20 And then uh, and then a pullback and then a bounce again um Pullback, I'd be looking for this to be kind of a One quick move and then maybe a another move back down here, but uh, They basically here at 100 flipped in the order book Okay, and come back up We looked at 16 here because we talked about this little level here Uh, and this actually turned into high volume node due to these transactions. So a retest to that Okay, just recapping things in here uh, and then uh Back to 100 And then see this is not a surprise here. Here we go Okay, now I want to see them break it here. I want to see them Break 20 and the breaks are high here And I want to see them trade back up into and this is strong by volume. So I'm looking for it to unfold Okay, we talked about 41 50 Okay, due to the uh, non farm up here Okay, this is strong guys We talked about this one here at 20 just above the swing at the cash open. So around 2025 or so 20 it's at 23 right now Okay, I'm looking for them and looking for a beautiful stop run above that area here And that love to see It come back up to 41 50 here. Okay, and this has the potential to do that Okay, look at the buying in here pretty pretty strong all right, so milkman, uh, I went over that 40 50 area in detail here Okay, and recap as well You're welcome. You're welcome So, uh, let's uh, let's take a look again here, uh at, um The youtube questions here. Let me get to that. Hold on a minute. Okay Okay, so you guys appreciate the uh, the the real-time commentary here, uh, and and also the why That's good. That's good. I mean, I'll continue on And just, you know, try to, uh You know be more engaging in here for you guys Um, ask questions about, you know, why you think some of these things are happening Might kind of help as well Make it more fun more engaging here. Okay, uh, Leonard, uh, you um You're looking to maybe more talk about how to read volume in structure. Yeah, that that's pretty Pretty I think it's pretty straightforward to be honest, uh, Leonard, but we'll go over that. Sure. No, no I mean go go over it all the time, but in maybe in more detail How does iceberg count on on the screen help you? Yeah, um, it I get a lot from the icebergs and stops Uh, and it is always for me. It's and I've always taught it this way. It is, um Uh The conf confluence is it's not a signal now scott uses it as an alert kind of like a signal But it is only to go then check out it is a big event and then he's looking to go and check out Uh, what had happened there and he wants to look at the order flow in context after that event Which is a really smart way to do it Uh, because now what that allows him to do Is is just wait for alerts from 20 different markets Uh, and then once he gets an alert he goes and checks out what what that context is Right, so that totally frees him up Uh waiting for an alert, which is really really smart Okay, but he still looks at the context Uh 40 60 could happen. Um for sure, uh, you know, I mean you can see like, uh It's kind of struggling here at the high high of the cash session here And it doesn't seem like there's too many buyers willing to take it higher here So that's that's another thing we want to read here. Like we're looking for stops Well, we already had a big stop run just above it here into 25 Uh, so that might be it for today You know, I maybe maybe there's not enough willing, uh players in here. It's it's strong buying. There's no question about that Okay, but are they willing to buy above the the cash high here? That's a big question Okay, and we don't know the answer yet Uh, we see some buying again a cluster of buying up here And there's high liquidity here so And you know, you can see there's the different strategies once once we you know once we start to Once we understand order flow Uh and start to understand the trading behavior and the auction market theory here Uh, you can look for trades up to these areas too Charges up into these areas here We've talked about it many times Uh and uh Not just like you know getting involved in up here You're looking for the charge up into test it and then maybe you know taking some profit But maybe holding then uh looking to see if you might get the break Okay, so or you know, and I think it's a smart way Because like if you're bullish Well, then that makes pretty good sense like you're buying the pullback basically or bottom of the range Uh, and then you're looking for the charge up into this liquidity And then holding because you're going with the bigger trend Right and you're managing take some profit off Right, so uh, you know like I said, there's so many different ways to to work on the on this on the strategies in here All right, let me continue on with some of these questions in here So Greg, that's some answers there. I hope that answers some of your questions on on icebergs We'll look maybe look at some specifics here. I think that's what you're asking as well Good morning, Carol. Uh, how can COB, CVP and SVP help you decide if you want to go long or short Yeah, well, we've been using them all morning, Carol We've been looking at actually a lot here and we typically don't look at the volume profiles too much On purpose Because that's just just this one way to trade So yeah, we've been looking at these in here and we've been look we always look at the order book And the COB column, uh, we just talked about high liquidity up in here And it are there buyers willing to trade it up into here They're they're advertising and saying like hey, I'll I'll sell to you And we're getting we're gonna get our looks like we're gonna get our move here Let's see if we we should we gotta find buyers right here right now We're starting to get them looking for them to move it on up into this 28 level and then 30 Okay, and this is now this goes back to the other question About volume within within the market structure Okay, well, we're looking for it in here and then here. I don't know, you know sellers up sellers here Okay, well it might rotate back up again Okay, we got to see buyers here above this little area here at 22 and a half They're testing it Let's see it buyers. There they are. Let's see if they can do it now. There we go All right, and now let's see them go for it here 28 and 30 Okay, so there's there's volume within the range Okay, there's 28 still looking for 30 here Beautiful, all right now bigger picture Let's see if we can get to our 50 level Okay, we're finding buyers up here now Okay, now now, you know, if you were we talked about this strategy, you're down here at bottom edge Trading it up to top edge and liquidity up here. Well, you just made your you know your your profit Okay, but you might be holding for the bigger move Okay As this could be especially a good good strategy on the s&p now it's again This is not a trade recommendation nor trading strategy recommendation. It's just a consideration a way of looking at the market You have to do your studying. You have to do your due diligence Uh, when we speak with j trader and scott Scott shows his trading uh sink Trader sink uh software He has data When we talk to j trader He he'll show his excel spreadsheets of like he has very precise strategies And he's understanding the the um, uh, he has percentages on them that he's traded for years That's amazing And that's what you have to do All right, then you can take these it's like, oh, I trade, you know, the bottom edge up to high liquidity And that's what I do again and again and then I hold some And I know that this works in general this works Right, that's that's uh Uh How you build a trading plan Okay, so now, you know, you're still holding some let's say let's suppose you did that Okay, you're still holding some in here Uh, and you're kind of looking at this going well, I don't know You know, I had auctioned up here not bad, but I'm seeing a lot of sellers. Look at this high liquidity coming in here Uh, and uh, now it's trading back down to this little bottom bottom edge structure Okay, now you're probably feeling different. Oh, okay. Well, they they traded into it and through it So I'm looking to see if we can break Uh the kind of 31 level here Uh now, okay this swing high Not seeing it yet Okay looking better All right, there they go Okay, so now it's auctioning up here And let's see if we can get there they go Okay a little bit higher 35 Looking for higher liquidity is up here at 38 and 40 If we're getting buying interest then we're looking for it to go here All right So carol I don't I mean I I I see your question, but I um I I think I answered it. I've answered it many times over, but please tell me if like You don't you know, you want me to say something more about it? Like I'm I thought I had Basically is what I'm trying to say If you're still confused then maybe more specific on uh, I mean basically in the in the columns we're looking at Uh the auction how it traded in those areas here and that's you know looking at an understanding volume profile Uh, I like to use the the profiles kind of like a You know, um God you can think of it like the housing market As big as an object as or high priced object is like a house or apartment Or it could be you know some something at the farmer's market like like how much or like even at a uh A garage sale of like you want how much for that? No, I'm not willing to pay that So let's say it's a you know, I don't know a table and you're at at the garage sale And you want you want uh 100 bucks for it And someone says I don't it's not worth that to me like you know, I can go get a new one from Ikea for you know 50 bucks And you go, okay. Well, I'm I'm looking for someone to pay a hundred and uh, and then maybe uh Uh, someone comes in and says, uh, all right. Well, um Hmm I'll pay you uh 65 for it And so, uh, they they're now they're bidding up Right So you're like, well, no, I still want a hundred You might not find you might not make that trans transaction He might have to come down And this is what's going on in here all day long is every every millisecond Micro second Okay, and uh the volume profile captures those those transactions. So we know, okay Well, it seems like a lot of a lot of traders kind of agreed upon the price down here, right? Especially here around this kind of 16 17 level Okay, and and that was what they thought this was worth. That's what this means And at least that's how I read it Uh, low volume nodes. This means that there was no activity in here Uh, no one's really interested. That's how this is this is rejection down here And and price cut right through it and auctioned up into an area where it It started to find buyers and sellers and that's where we get our consolidation Carol, yeah, the the cob column stands for current order book. So that is your Your auction This is where they're the buyers and sellers are lined up And not the aggressors But this is where you're finding the Ones that want to buy and sell at specific price levels And this is your dome your level two whatever it is that you you know if you're trading stocks, it's your level two But That's just showing one one aspect of it is the the buyers or the supply and demand in that market Okay, it's an an essential part of the market without that you don't have a market All right guys. So back and forth in here. We made it to 40 Hey buyers were able to take it to 40. They're not willing to take it higher yet So some back and forth in here I'm curious to see if we find sellers willing to trade it right back down to our 17 and a half level here Okay, I like 20 better because that's where the liquidity is is in front of it So I'm looking for sellers to try to reach down here to 20 And here they go. God today's been great um You know, that's a seven point move too. I just yeah, I have to reiterate guys Like I'm usually not the biggest s&p fan to be honest Uh, but when it when it trades like this, I just I just love it Just nice smooth moves here Little choppy in here Not the smoothest. It would have been great if it traded down to it and then bounced um Here we uh, we can talk about uh, I think um exhaustion and absorption uh in here and that would relate to a question. I think, um Who had here? Okay, Ben is asking about stops and icebergs. We'll go over that in the sub chart there. Um, but um Leonard Leonard was asking about volume within the in the structure. Yeah, so we we can start to talk about exhaustion and absorption, etc That'll be helpful like here here. We're making a lower high and we're not seeing see we're not seeing buyers here We're getting sellers down here All right, so I want to see if we can get our sellers down here again And now we're looking for the move to 21 20 Okay, now we now did we get sellers down here? Not so many now we're getting them now They're starting to break it. This is this is not a lot of selling either, but it's starting to do it There it is. There's our move. Okay, great. So, uh, that was a quick read Um, uh, Leonard, but uh, I don't know if that was helpful. Uh, we came up here Uh, we didn't find right here is where we're starting to look at it. We found sellers here No buyers here started to find some buyers here But we broke we broke back down and we found our sellers and then again here here's exhaustion Um, I didn't cover that in real time here, but uh, uh, where are the buyers here? Here's here's a little bit here none in here Looking for sellers we got them look at the sellers though. I didn't like that Not not a whole lot of selling in here. Let's make the dots a little bit bigger, but um Uh, it's just not that convincing of selling down here even though it did it and then it came back up No buying up here exhaustion again Hey, see how you can read the exhaustion within the structure? This helps so much There's no buying interest So looking for sellers. They're going to trade it back down to where where it can trade Okay, the high volume node or just where there's value areas previous value areas and retest those areas Okay, so a beautiful move into it Hey, uh, Leonard it did that um Look look for that again and again and we will in these webinars. We've been doing it for for quite a while Looking at those areas, but that that should be really helpful Uh within a range It makes really really good sense Uh as well like I mean, it's just auction market theory and understanding like uh in a range like uh That You know, there's no one at the top edge It's too price is too high No one wants to buy see they're buying top edge here. Okay. Well, great. All right. Well, let's see them try to go to 130 and 133 Okay, now we we we uh We had a little bit of exhaustion right here and then the sellers came in So and then see how they pound it down like this and they're going to try to pound it more 20 let's see if they get back down into 20 or so Okay, so they were buying up here. I think we'll get a retest backup here to be honest Let's see if we get our buyers back up there Yeah Starting to Okay, because it did auction up here. Here's the exhaustion. Here's the selling Okay, so and and that happened really quickly Uh, I I I thought they'd come come back down here to 20 And this liquidity here they didn't Still buy an interest you're still seeing them buy And this is this is turning into now a battle though between buyers and sellers you can see it There's buying they're selling there's buying they're selling so it's it's kind of all over the place right now So we don't have too much insight right now All right, here we go. Let's see if we get do we get more buyers up here? Not yet. I'm looking for them though There they are. All right, let's see them try to lift it and they're see there's the sellers So no hold off on that one Yeah, now now we're getting them again Still finding sellers though. All right. Well, you know for me, this just says hands off then I'm not gonna I'm not gonna play that I'm still I still think we're gonna get up to to 50 to be honest, but um, we're seeing a kind of a battle here and Uh, the moves aren't so smooth anymore This has been really really choppy and this these back and forth moves here Okay, so if we don't get clarity then then I Don't look to trade Still auctioning up here still I'm in the bigger picture. I I still kind of want to see them get to 50 but um They're kind of struggling up here Struggling at this area here. There's some selling coming in right there And let's see here Okay, lower high. Let's see more selling here. Let's see the move to 20 I think sellers can bring it down right back down to 20 here Like there it was again here understanding see see The the the transactions up here and and there's not a whole lot of liquidity in here to to give insight to this move but You know, there was it was the transactions within the structure So we saw buyers here. They had the potential to move it to 30. They didn't we saw selling cluster down here We come back up retest no buyers looking for sellers looking for the move to 20 It's already unfolded looking for more now now. Let's see if they can get back down to 12 uh Careful on this high volume node here or you know value area here So that's the first test There it is It's in it already a lot of selling and real Not real. I mean, I basically I think it looks like it wants to trade back down to 13 here But no real insight at the moment um And the reason being is just sellers took control here But we're kind of back up and back and forth in here right now Okay, if we get a little more selling on this little micro structure here A little more selling right here 17 and a half. Yes, then I'd look for the move down to 13 Well, so you can see what happened. This is all aggressors too. There's not a whole bunch of order books shifting in here Just buyers came in aggressors came in moved it higher All right, let's see if the sellers can now do the opposite move down to 13. I think they got it See them bid though in front, but uh, let's see. It's still still looking if we can get see some sellers in here Yeah, I mean just back and forth in here. I mean like uh in terms of volume in here It's been sellers buyers sellers buyers. Okay now buyers take take a little bit of control here. Here they go There they go. All right. So yeah, they did take control here and move it up higher Um, and they're gonna go for that 130 now But let's take let's take a look though. Okay, and then and and then the context relationship here Of these buyers that are coming in here like see how easy of a read. This is here And now we're trying to get that kind of insight here It's not bad. I mean the selling this is actually pretty good selling but now it's kind of equal buying coming right back almost equal buying Back to the question on reading like, um, uh, some of the volume columns in here I I really um Would encourage you guys to just keep it really really simple um And Understand just the first off the concepts Like here see how we're getting tons of buyers now. Are they able to lift this market not yet Okay, so we need to see them lift it move it They're not they they can though. There they go. They're gonna try here Now they now see them pull liquidity at 34. Great. All right. Do we get buyers looking for them? Yes We're getting them. All right. Let's see them go up higher now. Let's look for 38 Let's look for the move to the high of the day here just shy of 40 That uh, or is it I thought we hit 40 No, we didn't quite hit 40 see now we zoom out look at the buying up here Not bad, right All right, so let's see them continue looking for 40 Now in terms of um simple concepts with your volume profiles Okay, we're up in and there's not a whole lot of transactions up here, right? Compared to these other areas So we need to see a lot of buyers in here move Move price explore we're looking we we talked about 41 50 up here And the only reason we talked about 41 50 to be honest was because of the non-farm And a swing up there because a lot of people are short in this market And boy, are they gonna they're feeling the pressure Pull back So this is a big question Do we our buyers they they made an equal high here or just slightly lower it looks like And we're finding icebergs down here, but uh Uh, we we got to see we got to find buyers try to kick this off here above here They've got to breach and make a new high There's got to be willingness to buy above this swing here And here they go. Let's see if they can do it. I'm not seeing a lot of buyers actually Price moved up. Here we go. There's a little bit of buying interest. All right So let's see them trade into 40. They got to take 40 on and they got to trade through it And we're back up again Now buyers should hit it hard here There's 40 Okay, now we're looking for a a sharp move on the buy side 45 And we want to see continuation. They're buying up at higher highs. We want to see them a frenzy Of buying here to move it up to 45 into 50 Okay, there's not a whole lot trading up here. It rejected up here right in an auction There's just not a whole lot of trading up here um, and uh That's the fact So what do we need to see is we need to see a lot of buying move it Up into those areas They need to really come in with power and pressure and move it up into these areas here And the behavior is correct. This is what the kind of behavior looks like For that to unfold The all of these ideas and concepts. This is something that you'll need to to to look into yourself and study uh, and uh Start to put these these pieces together Okay, it could be auction market theory that uh, you know talking about Can it can it accept does it reject? See it's rejecting right now Okay, this is this could be trapped volume and we can get we can find our sellers come in now Okay, because we're below here at 40 Right big selling cluster down here. So let's see if we get more if we get more here. There there it is All right now. That's a big iceberg as well. So this is getting really interesting here is and we're at the european close as well Uh, so we got a lot kind of going on here Okay, there's some exhaustion see the exhaustion looking for sellers looking for them to trade it right back down to this cluster Okay, 35 There's some exhaustion on the sell side right here. That's not what we wanted to see And we wanted to see sellers down here Okay, so you'd manage your trade accordingly or potential trade Okay, there's sellers. All right, there here they are now. We're back down here now Let's see if there's enough sellers for them to drive it even lower Down to 33 32 looks good Okay, now it doesn't look so good Look good here, right look good looking for them to drive it Now now eh not not so great. Oh, well now look at that. No, I you know don't like it Okay It's not what we're looking for in the order flow order flow shifted it changed Okay back up at 40 Back up here. Now. Do we get our buyer? Let's just zoom out here. Let's look at a bigger picture Yeah, this looks again looks good on the buy side. I like it Looking for these buyers to carry through now 45 and 50 I think I think they've got it here. They've got enough buying pressure. It looks like Uh, and we should see some beautiful stop runs probably up to about 50 See see how they're exploring it and and it's auctioning here Okay, looking for now. That's a lot of selling now All right. Well, let's see if let's see if we get enough buyers again Up here I see some exhaustion there and there there they are Okay, so they're still they're still buying here. So they're able to take this higher Guys, there's our target 50 Okay And uh, let's see it. I really see a nice stop run above 50 though. There it is All right. Nice. Uh, I really want to see a lot more than that. I I'm kind of disappointed on the stop run there um Now Again watch out now. Um, or let's just watch this very closely Are buyers willing to take this higher up here or just hitting stops up here You know, I do would you like to buy this market up here? Like and if this is a stop run No, I'm looking actually for sellers over here trade it back down Okay, in the bigger picture trade it back down To where it can trade here 37 and a half Okay, or test where these buyers initiated the strong move or here 45 So you can look at first Area for sellers to test on pullbacks would be 45 because this is where this initiated and broke out from in terms of structure And there's already liquidity there. Okay, great. So looking for sellers And see if they can And then 40 would be the next one Guys with the that liquidations indicator. I was I was telling you about like, um This is where it gets really fascinating to see Like, you know, who wants to buy this market up here And it's not so much about that. It's more like willing to like who wants to test and see If you know, there can be put we can push the market into liquid liquidating People's positions up here Okay, and if not Then and you find exhaustion here looking for sellers Here at 48 and three quarters And then the move and the break down to well, yeah 45 basically They're pulling at 47. So that looks good. We just need to find some sellers here Still finding buyers. This is just kind of interesting to see that There's our exhaustion. There's our sellers. Let's see the move to 45 See if we can get that You can also see see this cluster here. These transactions in this range here for a lot of traders. This is bottom edge as well So profit taking down here. All right. So they take their profit. There's exhaustion. Let's see if we get our sellers here at 48 And a quarter there they are. Let's see them try to move it We got our profit taking bottom edge. Now we're looking for them to move it 45 There they go. And let's see if they can push it further 40 okay 40 is a great area down here. We looked at 40 many times today Okay, did that make sense that little kind of um Narration in here Of why like, you know, it makes sense in here. We're looking at kind of volume profile as well And volume profile just in terms of all these transactions up here Some profit taking at the bottom edge Which would be you know sellers and and and they're buying it back And we get these kind of moves back up And then once that has happened though, now we're looking for sellers. If we get sellers back down at bottom edge We're looking for them to move it now at that point Okay, so again these some of these concepts of of The auction and then seeing it unfold Okay, then traders behavior Okay, so a nice move down to 40 And it looks like maybe some profit taking there as well Okay for now All right guys, so we're just coming up up on the european close and We've seen lots of nice moves in here the the s&p has been just a A dream today trading very very nicely nice big moves Let's zoom out though and let's let's look at the bigger picture And let's start with the daily and we're back up in this range here. We talked about that scenario About it being very confusing day potentially or Ending the week actually not not just the day the week Due to the weekly chart here Okay, the dip down below into these areas here and then back up in the range and not giving us much Not giving us much So that's a potential scenario however We're also looking at More in depth here for Another scenario it just traded up to just just above spiked above the non-farm event again An event an order flow event As well Due to the fundamental event and then The move to the 150 lots of liquidity Who wants to take it above? We're not finding anyone right now We're going to look for the potential scenario to drive it back down into Areas where it had previous value Okay, there's different scenarios here. We're going to read the order flow for those moves to unfold So it could come back down into this swing here and we looked at this 41 20 several times For various reasons. You can also just see it right here in the market structure Really really nicely. Okay, we put our horizontal line in here And Also down here at 4100 where it broke out from on some strength And also down here So where it broke out here and kind of retested here. This is not the cleanest but kind of Kind of works bounced here a little bit didn't quite get down to it, but Kind of close to it right So, uh, anyway, those are a bigger picture a few different scenarios to look at and consider Look at your market structure Look at the auction around that structure in terms of the willingness to provide liquidity A supply and demand as well as what the what the aggressors are telling us With their with their actions and their willingness to purchase or sell at these areas All right, so let me get to some last minute on the questions here AVP, I mean, yeah, the the liquidity is it can act like a magnet at certain areas Um, uh, absolutely. I mean, it's it's it's like it's advertising Uh, I'm saying like look you want to be a You're buying you in in dead. I'll sell to you up here So you see it all the time Uh, now, you know, it's the behavior though of the aggressors. Do they want to go after that liquidity? That that's that's the question Okay, understanding this like even, um, the concept isn't doesn't it act like a magnet? Well maybe Typically it does But why let's answer the question why instead of just say yeah, it acts like a magnet you know, um It it's really much more about like why does it act like a magnet? Uh, typically because typically that's where the supplier the demand is So you'll see traders reach for it This is why and you want to gauge their appetite to go for it. That's what's important Right a lot of times you'll see high liquidity Uh, and you think oh, yeah, you know, it's high liquidity down here at 40 50 All right, do we find sellers willing to go for it? Well up here Yeah, here they here they come right is this going to be the big move down to 40 50 It's pretty far away. Uh, that's 83 points Um, so, uh, but this one here they're they want to go after uh, 41 30 Okay sellers are they're going for it, right, you know, this is this is where they can deal down here All right, so uh now this is shorter term liquidity though, too. It hasn't been in the book all that long Okay, whereas this 41 50 they'd been in here since Well, they hadn't been in there that long either, but they were earlier Here and this is an important area just because of the swing Uh and the non-farm as well as you know orders around the figure here All right, so I think answering the question of why Uh, they act like magnets Sometimes they repel it look look at look at this liquidity here Okay on on the offer right right in here. What was the reaction to this liquidity here? Sellers okay, this repelled it Okay, we hit our 30 level and we traded through it now actually Okay, so it was magnet here repelled it here Let's see and this is what we want to gauge here here. Look at high liquidity here. Do buyers want it? Well now this game theory they're they're pulling you know adding it back in pulling it etc Well, we're not getting too much insight from that Uh, I hope that answers your question. I mean, it's a it's a great question But I think I'm going to dig deeper into it and and kind of answer why That's what's really important um Trapedity I I have not seen much um Uh reading material on some of these theories at all To be honest When it comes to the the order book, uh, and um I mean, I've seen a lot of academic papers about order book and um You know how the skewing of the order book can affect price It was mostly for stocks though and these were kind of financial engineer students A lot of them. I mean there's others as well But, uh, you know, they're they're very very in-depth They're like quants and they want to work for banks and they they come up with all these like, uh, White papers, etc Uh, I mean, it's I'm simplifying things. Um, and probably insulting them by saying that in this manner Uh, however, you'll you'll see like uh, they're they're developing or looking to develop hft strategies and you'll see how um The order book is essential Uh and understanding, um supply and demand in there Okay, uh, there's all sorts of uh books about that kind of stuff Uh, but in terms of longer term liquidity, etc. I have I have not found a lot of uh information on that Okay, so, um Let me Answer a few more questions in here Yeah, you're getting it trepidity. That's it basically like again like it it's I think simplify this This is really important. I think really simplify some of these theories in here, uh, because uh Uh, it's just common sense uh, and um You know and understanding like reactions to liquidity, uh, or Um transactions, what what are the reactions to it? I mean just think of yourself at at an auction. It's like, whoa, you know I I would really like to get that automobile or that painting or vase or whatever it is uh, and uh I was willing to pay this much, but then like I'm finding all sorts of people interested in in in paying more than I wanted Do you have FOMO? Are you going to start to bid up a bit more? Do you really want it? Are you going to go after it? Are you going to charge after it? I mean there there's your there's some of the the behavior right there Uh, and you can read that here in book map Um, yeah sounds like I have to write a book. Um Yeah, I mean, uh, I mean look look at uh, you know, there's look at the them come down here and and um And we talked about this potential move here. Who wants to buy above 41 50, right? Who wants it like so we talked about 41 20 again. We're already below it Uh, we talked about this line in here. We're already at it And uh, uh now we're looking for 41 100, you know, this here's your magnet down here Okay, now what are the sellers telling us? Well, yeah, I would say I mean we're gonna get pullbacks We're gonna get all sorts of stuff in here, but look at them. Look at the look at the offer. Look at the sellers here Yeah, they want to go for it They're going for this liquidity here and here. Okay, so at 15 and at 10 Now it's not going to be as simple and straightforward as that We're going to get all sorts of pullbacks and and they're going to pull they're going to add Etc. It's going to be choppy. Um, but bigger picture You know, you can also filter your heat map here Uh, uh use your cutoff, uh, and uh, you know kind of try to simplify things Uh, now, you know order flow can change and shift Um, rapidly we know that There couldn't be event an event that happens and changes But in the bigger picture here Like, uh, yeah, it looks like, you know, we're finding sellers down here. They're going for it uh looking for them to uh go for This 10 area here and then 100 They seem to want it here. That that's the bigger picture outlook here Okay, now that that you have to you know How are you going to manage that? How are you going to find a trading strategy to wrap around that? Hey, are you going to get in and then and ride it? Where are you going to put your stop? How are you going to take your profit? Along the way, how are you going to drag your stop or, you know, trail it or protect it, etc Are you going to scale in? These are all sorts of like trading, uh, Scenarios to go through for yourself and this is where that's where you've got to do the due diligence And that's why we have scott and j trader like they have very specific ways of doing it And in here we can allude to many But this is not a trading room. This is a order flow reading room To go through these theories There's our there's our 10 Okay, and let's see if we can get down to 100 here We can go through these theories in here, uh, and then also theories and some of the strategies to consider Oh, yeah. Thank you. Okay. So you left a private message for me as well. I'll get to it. Yep. Yeah. Yeah, I I really love it when the s&p Uh behaves this way. It's just it's easy easy reading here and Very very casually kind of Going through the narration in here Let's see you think the gap between current price and resting liquidity can throw concept off and make it harder to grasp Yeah, yeah, exactly. Well, I mean This is why like This is another reason in fact that, you know We're not taking positions in here Because once you take once we take a position in here Eyes are going to be all over p&l And it's like did it work, you know, um, like I'm I'm short too or you know, I'm long or whatever and uh You're gonna you're not gonna take a step back. You're not going to be able to read the bigger picture and um There's a huge gap between that and reading and understanding kind of these concepts and putting the order flow reading together That can allow you to grasp the bigger picture and uh Put this into a um cohesive trading plan for yourself Yeah Yeah, understood. I mean it's tricky stuff. I mean this is you know, uh, there's days You know the market doesn't know either, you know, we're reading the behavior of traders and that can be very fickle Uh and change all right, so Anyway guys, uh, all right, I think I'm all caught up. Uh, and uh Yep, let's uh, we'll wrap it up. Uh, tom b will hopefully starting next So, uh, get ready for for him. Uh, and uh, yeah guys if you like, uh, these webinars or these these, uh videos in these streams, uh, please, um Like us or you know like it and um Hit the like button and subscribe This will help us out quite a bit and be able allow us to Do more of these in the future. All right, so thanks everybody for coming. Have a good weekend. Look for tom b starting shortly Good stuff to follow always is And uh, he'll take the stream from here. Okay. Thanks everybody. Have a good day