 All right, good morning, traders, and welcome to the Bookmap All Markets webinar. Good morning, traders, and so this webinar here, we'll go through order flow using Bookmap for any market. Just most people want to look at the S&P E-mini, so we'll typically go through that and cover it in detail. This webinar is for you so that you can understand the basics in order flow and then put the pieces together here to build an edge. Let's get into the general disclosure. All Bookmap 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 substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. All right, so let's jump in here. Let's take a look and see what's going on in the order flow. And good morning, everybody over in Discord as well as in YouTube. So let me get to the Discord chat room and good morning slowdown. All right. For those of you over on YouTube, come and join us over here on Discord. We have all sorts of events all day long. Most of them are in YouTube, but not all of them, so you can take advantage of that. All right, so let's take a look here at this S&P and we'll go through a very basic order flow reading for what we see at the very moment. But I want to go and look at the higher timeframe. And one of the things I want to discuss today is trapped traders, traps, and then using this as an edge for ourselves. All right, so right off the bat, you can see that there's basically a trap right in front of us here. We had data at 8.30 here this morning. We see the action reaction to that data is positive. And so far, the rest of the day has been positive on that data as well. And this is where we can see traps, etc. So let me just outline it here. This is what I'm talking about. This is a range of activity, trading activity. We had data. It lifted it up out of that range, as you can see. And then we have it accepting above this range in here. Now, this is a little dip below it here, but it came right back up and we are in basically retested the highs up here. And then take a look at the liquidity up here. Guys, this is a really nice reading in liquidity. So we have tons of liquidity up here. In fact, you can see right after the data came out, this liquidity came into the order book. All right, so that's the reading here. And it was the core PCE price index, the month over month. And it was actually less than expected, but that was a positive thing, at least up to this point. So look at the sellers starting to come in right now. So actually the reading would be that we came up, retested this high, made a lower high. I see a lot of sellers coming in. I see an order book skew in here. So yeah, I'm looking for these sellers to try to go down to the bottom of the range here around 60. And I see some liquidity there at 60, but there's also more here at 57 and 55. Okay, so this might be, it looks like pretty strong volume coming in. And we do have an order book in balance. See the orders following it down. So I'm still looking for sellers to attack this liquidity down here on the bid at 60, 57, and between 55 and 57. So that's what we see at the moment. We'll see if this turns into a trap. It's possible. We're getting a little bit of a pullback at the moment. All right, let's let's jump back here. Let's look at our bigger picture before we start getting into the details here in. Okay, so we have the daily chart here on the left, the hourly in the center and the 15 minute here on the right. What's going on in the bigger picture? Well, we talked about this earlier in the week. And the we have this down day here. And now we're hacking around at the lows here. And this was to be expected to move down and retest these lows and maybe potentially continuation if we can break this and then come back down into this maybe 4226 area somewhere somewhere around in here is what I would look for. And that is not not out of the realm for today. It could happen as well. It is probably less likely we might get a retest back down, not only to the lows, but maybe somewhere around in here around 93. We still are outside of the range of all of this daily activity here. Okay, and that is bearish. We see a green candle for today, but we are outside of that that range. So, you know, if if if we say a lot of buyers come in back into the highs of the day in here, then we're looking for a move back into the range and it should be pretty strong. I would imagine but we'll take a look at the order flow on that. Alright, so that's our daily analysis on the hourly. What do we see? Well, you can see this gap here, this move lower and then the reaction or the pullback so far. And on the hourly, hourly is showing us some pretty good stuff here. Look at the volume in the sub chart here as well. And you can see that some of that buying is is is coming in here now up in up in these areas so far up here though we see less buying. Right, so we see the gap up today actually in this hourly chart over more in the 15 minute. And let's see if we get some more buying and try to make it back up to maybe these these ranges here on the swings in the hourly chart. So up here around 4380 and see if we can get that we're going through scenarios in here and then we're going to look at the order flow. The participants to tell us and give us insight that that's where price wants to go because there's orders behind it that tell us that. Right, that's that's one big distinction in here what we do in book map is you know we're not looking at we're looking at technical areas here but we're talking about the participants in the auction. We're not talking about it being a pattern and oh this is how the pattern works and you know I have statistics on that pattern whatever. Yeah, that that's all good stuff. No doubt. However, we want to understand and get that this edge here with the order flow. What are the participants telling us so for example let me let me let me go through a candlestick pattern. Candlestick pattern in here may show us something but we don't know what's behind it. Right, so if we don't know what's behind it in terms of the orders. Well, then it's really a coin toss of like if this pattern is going to work or not. If we can understand the orders behavior behavior behind the pattern. We have much deeper insight for a more probable outcome. Because it's based off of the orders behind that pattern. Right, so let's go over the 15 minute chart. Here's our gap up and here it is. We're accepting higher so far. Okay, but we're going to we just saw those sellers come in and and we get a little bit of a bounce at the moment here. You can see a little bit of a wick here but I'm looking for those sellers to retest back down to this like 61 and then see if we get not only to the lows here, but I would look forward to trade kind of around the previous day high here. 55 and then maybe we can even get a gap fill or on a on a big red candle down into this area around 38. Right, so anyway, that's that's what I see so far. And I want to go through before we get into the trap traders. Let's go into the. Well, let's let's first identify some traps one trap here, because it might unfold here right here. We have a lot of sellers, they are in control of this move so far because we do not see buyers back up above here. Okay, if we see buyers back up above here. This is the trap. So, so far it's not a trap for them. They are in control of this market. They are moving it they are now creating a lower low here in this little range here. So now we're getting our follow through on what we were initially looking for was a move down to the lows of this range here which we are now at. And we're looking for even more sellers to join the party and bring it down to the 55 to 57 area. Is that clear. Right, so scenario one is that the trap would be here. A scenario two is the sellers remain in control and we get this scenario, which is it should be the opposite way. This should be scenario one. This should be scenario two. Okay, going through these scenarios and then looking forward to unfold in the order flow. That's where we can gain an edge on a more probable outcome. All right, let me see if there's any questions. And good morning, Steven. Yeah, there we have some major issues in discord. It appears to me it was like discord in general. I couldn't even DM a few people, but it looks like they got it fixed and it's working. Yeah, the first time I've ever seen anything like that as well. So, yeah, I was kind of kind of freaked out there for a bit. But everything seems to be good now. All right, let me jump over to YouTube. Good morning, Luis. Good morning. Spy closing the gap. I don't know. I don't have spy up right now, but we're looking at the S&P. So it's basically going to be much the same here. Really, Rob. Well, I didn't have to restart and it was working. So I'm not sure if that was the issue or not in discord. All right, so let's go through. I wanted to focus today on these trap traders and looking for traps. This is such a powerful thing and it's so easy to see in bookmap. And we can also, I can also demo this along with the candlesticks that I was just talking about and what's behind the candlesticks. Okay, so let me, we're looking for one of these, you know, scenarios to work out. Scenario number one, the move to the downside is the one that's working out. Okay, so let's get rid of our, this one can still work out. It's still possible. Okay, this could be a really beautiful trap and we could see a nice move to the upside if we can get back up above here. Right, we would identify that these sellers in here lost control and then they would be forced basically or really punished to hold their position. So they would likely cough it up and they would cover up in here. And it happens to us all the time, right, all of us, we want to be on the right side. And then this is where it's telling us we're on the wrong side. All right, so anyway, let's cancel these drawings here. And then let's look at, yeah, other potential traps in here, right? So now in here, look at this buying in here. This is a pretty, pretty small buying. Look at it down here compared to all the selling in here. Right, so sellers still remain firmly in control in this move. This is a low volume pullback and offers really good opportunities for entry up in here and then looking for that continuation to the downside. But what I wanted to cover about these guys in here, perhaps they're, you know, this volume in here, look at the size of the green dots and look at the size of the bars in here. They were able to move it back up here, the buyers and price creeped back up here. However, anyone that bought in here is likely going to, they're going to be covering down here. So we should see a stop run down here and we do. It's not much, but we see a little bit. So we would anticipate that behavior based on the trap. And so anyone buying in here, they feel the pain and they cough it up. Not much of a stop run. In fact, now we're seeing a stop run to the upside. And why would that be? It's because of these traders in here having to be forced or compelled to exit their position. That would be one of the factors for sure. Okay, buyers are sellers still in control though, right? Sellers are still in control of this move. Does anyone have any questions on that? Identifying who's in control and who's not. And what might happen if they remain in control or what might happen if they are losing that control? No questions. Good morning, Hemek. Do you wait for a break of the structure? This is a good question. Now, based on the setup, you're talking about a setup in here. And I like, when it starts trending like this, I really like to look for the break of a very small structure up in here or maybe in here. And that's where I would be getting in. I know that the sellers are back here and coming back into the game. So I would be looking for a break of a structure on the pullback, basically. That's one way of looking at it. A lot of other traders, sometimes they just blindly get in. It's like, if I get a pullback to here, I'm setting my limit cell. They're looking at the volume in here and saying, okay, well, you know, it's worth it. This is a good risk to reward in here. And I will be getting in up in here. I don't like to do that. I like to make sure and see. This is my way of looking at it. Let's clear these drawings again. And I like to see that the sellers are coming in. I like to see exhaustion up here. This is actually pretty good stuff. We have high liquidity in here. Buyers come in. High liquidity comes in. Lack of buying not much. They cannot make even a tick higher here to make it an equal high or a higher high. And then we see the sellers come in. And somewhere in here, you can even look for a pullback to this range in here. And you've got one, two, three possible entries. Another entry is a break of even that little range in here. And here's where the sellers start to take control again. So these are, we're getting into the minutiae here, Hemek, but you can see what I'm talking about now. These are where it's more probable if you have less traders, a lower high exhaustion here by buyers, more sellers in here looking for the continuation. So these are the areas to consider for really optimizing your entries. So if you're selling down here, this is what you've got to put up with. So I don't think this is worth the risk to reward for those kinds of breaks because you really get caught up in here. So for example, let's look at this here. This is where these sellers and these sellers can feel the trap or the pain. Now let's look at these buyers in here. This is where they're going to feel the pain right in here. So let's see if we get a lot of selling here at 60. I'm looking for it. And in fact, this would be even if you had kind of scaled in and out of this position, this could be a scale endpoint here if you see those sellers. Because you're looking for these buyers to have to cover, looking for the stop run to the downside into our zone earlier that we're looking at 55 to 57. Okay, makes sense. All right. Let me see if there's any other questions. How do you know those buyers are not sure it's covering we don't, we don't know. But we can start to look for, like, like I was just showing here since we have the stops and icebergs indicator in book map. You know, the MBO data here from the CME, then we can verify this and look for that behavior. So that that should help us minus, you know, determine that, yeah, they were potentially, you know, new buyers coming in and feeling the pain and getting stopped out. Okay, if hope that makes some some sense. Okay, so let's see if we can get our move here and the continuation here. So now now we're down to the bottom of this range. Okay. Great. So, and then let's look here, like I'm looking for the sellers to remain in control. This is a lot of cell volume. Look at this. This is what we want to lean on in here. So we're looking for the follow through here. Okay, but this is where, like, as I put it in this kind of analogy here is we're leaning on this behavior in here to look for this continuation move below the range here. All right, so let's let's talk about it this way. Here, here, here, and here, well all the way down here, we see sellers. Okay, so this last one, let's actually delete. Okay, but these three in here, let's get rid of this one and this one. All right, so it's like when we're looking for a higher probable setup, so this is helping us. We have behind us, these like these orders here, and they're they're firmly in control, like this is where it started. This is where they're tested, firmly in control again, where they're tested, firmly in control again, tested and firmly in control yet again and breaking the swing here. And then there's our nice move into that. This is what we're looking for, like back back here. You know, what was this at 1006 when we started this webinar so basically almost 20 minutes ago. We were looking for this move here. And now let's even we'll look at the bigger picture in just a minute here, but and put that put that perspective into play. Now we're looking for even a, you know, a potential trap in these areas in here by these new sellers. Okay, so we'll talk about that in a minute as well. But the main point here is when looking for your setup, we want as much support or I don't even want to use the word support is much kind of help and assistance on our side. And order flow can help you here. We see it here. Right. And, and we know that they're in control. So we look for the continuation. Right. Now we never know. Maybe some larger player comes here up ends the whole thing and then buyers jump in and we get some sort of mean reversion back up into these areas in here. Who knows. Right. But this is what we know at this time. The sellers are in control. They're moving the market on on volume. And we have lower offers at lower areas here and we're targeting the bids down in here to transact. And now it looks like it wants to come down to the figure here but likely we're going to get a bit of a pullback in here. Probably back up into, you know, 5056 5758 somewhere around in there. Right. So anyway, I want to underscore that point here that we have these orders and these traders on our side. And then that makes this move here more probable of working out. Now this is like not a trade recommendation. This is something it's an idea as a concept for you to go and back test. And then let's go through actually the let's look at our bigger picture for a second. We're getting that big pullback that, you know, or pullback that we were talking about here to retest back up to this range here. Is it going to accept or reject right here. The swing. So we'll come back and take a look at that in just a second and then we'll look at some candlestick patterns and talk about this order flow behind the candlestick pattern as well. Let's go back here to on. Okay. Yeah, so here we go on this. A larger our larger time frame our hourly here a bounce around here makes makes sense to me. Okay, it topped this range in here. And then even I'm still looking though for these sellers to come in and take this further. We've got some pretty good momentum here and some good selling behind it. So I'm still looking for on this 15 minute chart to trade to the 304350 and then maybe we can get down into the 4339 area and that would be our gap fill 38 something like that. All right. Interesting. So let's just cover this one point before we start looking at candlesticks though. Is this a low volume pullback in here? What do you guys think? Not low volume yet high volume. Exactly. Exactly. Thanks guys. And so how would you want to let's just go through some scenarios in here of trade management. Okay, earlier we're just looking for a move down into this, you know, 55 to 57 level. And we got a bit more follow through and then we're still looking for maybe this 4350 area and we just covered that also in the higher time frame. But this is something to note. This is this is not a low volume pullback. This is high volume. So in these little areas in here, these were beautiful low volume pullbacks just just beautiful. Let me let me get the pen tool out. It's be able to use. All right. So this is low volume. This is it's all low volume here. This all low volume. This too. All low volume. All of the sellers in here. As you can see, in here, in here. And also in here, all the way through. And remain in control. Now, now that's going to be tested here. Right. So now what I want to what I wanted to mention here is because of this behavior. In here, it might be a good idea to start managing your trade a little more actively. Maybe the market we're looking for it to trade down here. Right. That's what we're looking for. Now, we don't want to be shaken out of a trade. I'm not I'm not suggesting that I am suggesting though that we need to pay attention to this. This is new information and manage your trade accordingly. You know, if you took some off down in, you know, this area in here, 57 to 55, maybe even exited the trade. Maybe you held some and put your stop at break even in this little area in here. It's probably a pretty good idea to take some profit. Right. It's just an idea. It's a concept. Right. That I'm putting forward. It's not not a recommendation. So we have this new information here. This is not low volume. This is new buyers coming in. Okay. So now we can even entertain a thought of mean reversion up up in here and I'll watch these buyers try to move it here. Okay. And let's let's talk about stop runs in here. Okay. And traps. That means that all of these sellers in here, we should see beautiful stop run if we get these buyers if we get the buyers. Okay. And this would be our mean reversion trade. Right. And we know that up here, based on the order flow, this is where the sellers took control. This is where they'll be tested and it coincides with the high volume node anyway. So if buyers can come in and I actually am anticipating buyers to come in at this point and see a beautiful stop run down here with the red line and then move back up into here. Okay. Now we'll see this is this is not something that I'm looking for as being highly probable. Okay. Whereas the other one was I think much higher probability of this move down lower into this area in here is 55 to 57. Okay. This one is less probable just because I know that the sellers remain firmly in control still. So this is kind of it's kind of a mean reversion in here to test these sellers up here. However, you know, I don't want to mess with it. I don't want to be caught up in a trap here above this little range in here and then have this just move down to what we thought it was going to happen anyway, which was our 4350. So I'm not willing to take that. So I take that out of my trade plan. Okay. I'm still looking. I'm looking for this. I'm looking for a mean reversion trade, but it's not something that I'm going to trade. Okay. So what we're doing is and there's some reasons for it. And then then I'll talk about why we're thinking that do we get a lot of volume or liquidity underneath supporting it a little bit, but they're really down here. I don't really see too much in the order book here supporting this this mean reversion trade. So I'm not going to take it and look at this we just had exhaustion here in fact. Okay, so let's just cover up now another scenario in here would be what we're what we're and you could you could look for this here for the break of the of the trend line the break of this here. And then we'd look for that that continuation move here. And that would be more probable than this kind of mean reversion up here. Okay, however, we need, we need to go through and get the players on our side, and do we have them here and we really don't have much of anything here. We don't see the order book underneath here we see high liquidity up here. We see high liquidity down here. Okay, I don't see anything else in here we saw a little bit of like this kind of bluish area in here, and they just started to flash again, but down here at 57. And we see the reaction is buyers. Right, so it this is not enough here for us to look for something really more probable. So I would just avoid it. And we knew that, you know, because this is not a low volume pullback in here, that we want to actively manage it at that point. And so we don't have to take a stop at the break even or, you know, have this go against us and then take a crappy exit. No, we could have taken a much better exit down here, or in here. Yeah, I don't know. I don't know who these these players in here I don't know if these are, you know, big dogs or, you know, big players, whatever. I just know that this is not our low volume pullback anymore. And it could be these mean reversion traders but even then, like, it's, it's hard to decipher, you know, what it is we do see the stop run here. But look at the beautiful stop run here on the way down that can that continuation. Right, and we would look forward to continue down to 50 but we mentioned that a lot of times what we see after night nice big move. I got we do get some profit taking which I imagine this would be some profit taking and then and then there's also new new buyers coming in. Okay, no question they are they actually remain in control in this smaller timeframe move. This is where they started to buy in here and we have not gone below it yet. Right, and see how we avoided anything up here so far. Like now I'm not really looking for that like yeah maybe at this point I'm still looking for it to go higher but I'm this is not high probability. And then we went over the other one the opposite scenario is like okay if we can get me boy I'm really using this tool today I really use the drawing tool. But instead we went through the opposite scenario if we can break this then these buyers are the trap and we're looking for the continuation. So anyway, they are bidding up underneath here this is getting better and better now see how they're building here. So this idea is gaining some strength here, but they're pretty far away they're down between 53 and 55. If this was up here at this area up in here very very high liquidity in the order book here. And we get a little bit of a skew here now at 56. And let's see the reaction to it though. Okay so if we had a higher higher bid and then we found big green dots in here. Yeah that would look pretty good for doing this now pretty good. And we don't really have that. So why would we want to risk money. When we don't have all of the strength at our back. So don't don't take it you know consider that or if you you know if you do take it you have some of the pieces of the puzzle and lower your risk. Don't take a big position take half or a quarter or a third. Okay if you're trading micros you can do that. And know that it's not as probable so don't get you know don't let this mess with your your your mind. In here like oh god it didn't work out well you know it's not likely to work out. So you know have some discipline have some restraint don't do it. Or if you if you must you know you really reduce the risk. And wait until you see something much better. Alright. We have a huge delay here on the YouTube stream really. Sorry about that. But try a Louise some try just hitting the refresh button it sometimes the live stream you know is it's not showing that it's live by that it should be like about two to three seconds delay so let me I can test it here. So if I just. Just draw up this little area here. And then let's see how long it takes here. Yeah no it's only like three three seconds or so. Louise is no it's no huge delay here. Not bad. Okay so. Pass you're talking about the opening four hour doji so yeah I don't I don't look at the four hour doji but that reminds me to take a look at candlesticks okay and we're going to cover now candlesticks we'll have to do it on the lower time frame. But you know we're going to talk about candlestick patterns in here. But how to really make this much higher probability by understanding the transactions and the limit order book both current and historical that help give us much more insight so here here's your candlestick pattern in here. You're looking for a break of this this low in here right and I'm just gonna use that pen tool again. You're looking for a low a break of the low here right and you're because we just came up here we see a wick. Now we're looking for the sellers to come in here and test the wick here and if we get a break below here on the candlestick pattern. If we get a break below that is a cell signal. Okay and it closes below basically that is a cell signal on the candlestick pattern. You've got the wicks that's good. Now what's behind those wicks because we don't know. Here we go here here comes the sellers in here. Now this will make the candlestick pattern much higher probability of working out. And it's not boasting or anything like that it's just true. We know we have sellers here at the bottom of the range in here right now they haven't they've just tested it they haven't broken it yet. Now we're looking for the break here here comes our retest. We're looking for these sellers to hit here and then break this and then trade into next level on the candlestick would probably be at the swing here. And there's liquidity behind it great well that's a great target then right here they come and then this is our pattern here right this is the break. And then if you trade candlesticks then this is something to consider. Right now you only have here you've got a couple players on your side here. You've got the sellers coming in here. You have high liquidity up here it's up higher though. So it's not the best. If you like candlestick patterns as well you should know that the probability behind that candlestick pattern working or not. Right to me this is turning into a beautiful trap actually right now. So this is where this candlestick pattern is going to fail and we're going to see we're going to see buyers come in and go back up into the top of the range up in here in the candles these wicks and we have high liquidity here as a target. Okay so what this is what before was looking for that candlestick pattern in here to remember about the close below it here. We can retest or test these areas here. See sell volume come in. Great we can start to look for these areas here. Well that candle hasn't even closed yet. And then here's the move back up into here. This here these sellers here are this is the trap. And this is what we're covering for the kind of theme of this webinar in here. And yeah anyway they can't the can't we'll look for a better candlestick pattern in here as well but we got to go through the scenarios in here. And then once we see these these buyers come in like this now now we're getting some pretty good pretty good insight for them that move back up here and we know that these guys are going to be trapped. So if we have a trap how can we verify that this is these are trap sellers in here. What do you guys think looking for an answer here. Okay we're looking for a stop run. Okay if these are the trap sellers in here. Do we get a big stop run here. Yeah right here. Right beautiful beautiful one. Now there's our now our mean reversion trade has worked out. Now we're going to look at a few a few different scenarios here. First is the you know this this mean reversion and then we're going to see if we accept or reject up here and these are two different ways of trading or looking at the trade. One is the mean reversion which has played out basically right it traded up to here. The other one is the sellers remain in control and and looking for them to be retested back up here. Alright so anyway there's there's the you know the mean reversion play as as pretty much played out and then we can we're going to identify other traps in here as well. Okay and we're going to try to mix it with the candlestick pattern. As well so these sellers in here we should get another pop and stop run if we can get back up above 63 and a half. Okay so that would be your strong move your low volume pullback and another strong move and it's not really the lowest volume in here on that sell side. Okay so that's one scenario and then we get our continuation. Okay so we'd be looking for this here let me. Which one do I want to choose the drawing tool or the or book map. Let's go the drawing tool here. I'm sorry. Yeah the drawing tool. So the here's the the sellers being trapped. Here's the stop run up. Okay so now here is again like either some profit taking or do sellers but it is is it low is it low volume is it really that good it's not that great. You know so I don't know if it's if we're now you know really looking for 65 to trade or not. It doesn't look that great to me. And I want these guys in here. I want to see the stop run and the move to the upside that that you know compelled traders are the ones that are the best. That's why we're covering traps because they have to hit that button. And that's what we want to look for. Right so this we just covered this little selling in here let's cover the buyers though in here above this range in here. So where do the buyers take control and where are they going to spin out of control. Well not bad I mean consistent buying through here right on this time frame at least so is this the area we're looking for a break I don't know. I mean I think it's actually more down in here we need to see like the sellers come down in here in this area that would be more convincing to me because then I know these guys are going to feel the squeeze in the pain. And then we get we can get that move into 50. Alright so now let's go through a couple trade scenarios in here for this. Okay one would be that we're looking for exhaustion up in here. Order book on our side as well so lots of sellers in here and not too many buyers aggressive buyers in here lots of sell limit orders. And then we're looking for our sellers. So this this is gets back to hammocks question about when to get in on some of these moves. So here's a small consolidation range up here. And so well if we get what we're looking for we get buyers and sellers in here with limit cell orders in the order book. And we get exhaustion by the aggressors in here by the buyers and we start to see sellers come in. You can look for it especially down here I'd look for sellers to try to break it. This is where you can get in early. And then you've got a bit of you know a buffer for yourself. That buffer would be that if you're getting in here you're looking for them to hit and test these buyers that are in control down in here. That would be the step first step. And so if you can get if you can get that. So can we get do we see that here in the setup. No no we don't not yet. Right so we got it we got a look for that and then this is where you're looking for it to go and this is where you can either take some off or even. I don't know how you want to manage it there's many different ways to do this. But you could take some off or or not and just move your stop down because at this point here. We don't know if the buyers are going to come back in and support this this move here. Are they going to come back in and buy again. Now if they if they do well then you're going to likely be retested up here and maybe be stopped out. But that's why like you might want to take some off because you don't know if you see massive selling coming into this though stay in it because you're looking for these guys to spin out of control. Right so you can you can you can trade it down to this. This you can trade it down to this oops. And then but we're still looking for the continuation. Right but again. What we want to see though is like the order flow on our side for this this idea. This concept. And we don't really see much here yet on our side. Let's see if I've had any more questions here. You're on the Nasdaq okay pass. Let's see what about discord in here nice nice stuff in here in discord. So slow down yeah I'll take a look at yours in just a second here your image. Oh here come our sellers now right. Yeah this is too late for me to consider. I don't know. I just I still don't know if this might these guys might be trapped right. And I don't want to participate in the trap. I want to trade against those guys. Okay so we don't know that's why that's why I'm suggesting like we know the buyers are in control in here. It would be you could trade these things down to these areas here but we don't know if the buyers are going to come back in and they are. So now actually I'm looking for the move back up to 65. Does this make sense because these guys are trapped here. Watch the stop run here I would anticipate the stop run up into 65 at this point. At least the top of the range here 63 and a half and that's from here from this volume dot here. It's a beautiful trap actually because look at the sellers here right at the 63 or 61 and a half. Right that's why we're looking for it to here or here. Make sense and let's see if we get our stop run now above the range here we should see beautiful stop run here. Right so identifying these traps right you can trade it down to these areas here as well though and that's why I suggested taking some off. In some of those areas now it was a little shy of it and instead all we did was kind of break it mildly here. By point point and a half and then the buyers come in and here's our beautiful move and our beautiful little stop run here as well. All right and that should complete the mean reversion trade as well. Do I find the CVD delta and other useful absolutely I wanted to cover that slow down I'm glad you brought that up. So what slow down is talking about here is using the cumulative volume delta the chart range volume profile here this profile here is based off of the data of the aggressors these dots. All compiled here in a profile for this viewable range so if I zoom in here you can see the viewable range is much smaller now. Right and so it's the data for this viewable range. Right so what slow down is talking about to identify potential traps this is actually going to be a good example. Right click in your CVP column here go to configure and then click on delta so this will be the by minus cell. There's lots of ways of looking at this in here we can actually split out the data here buyers versus sellers here we can look at it in terms of the profile here the composite profile. We can also look at by minus cell the delta and there it is there is the potential trapped buyers here because it's very it's compiled here on the horizontal and this is them. That's where we just identified them and now here's our move back down below now watch this so we can get down in here where these sellers are in control down here these guys I have to cover now. Right it did our mean reversion trade it completed it up into high liquidity sellers are back in watch for these guys here. These buyers here to spin out of control. Okay, and we should get really strong nice move and stop run to the downside here and complete what we're looking for earlier. Not only this liquidity around 55 or 54 54 50 is what we're looking for. Okay. And in here comes our move. So this is another way of identifying trapped and who's not. It's a beautiful way to do it to. I mean it's pretty obvious here up at this range up in here. I think it's pretty pretty obvious to use this tool here because I mean it confirms it. However, you're probably you're likely going to know it anyway, because you can clearly see it that there's no one else up in here except some buying coming in here. That's the trap. Right just like you can see below this little range in the trap in here. However, what's nice about the using it in the column here as well is like, you know, we've got this whole range in here, and we got a bigger picture trap above here. And that's a lot of volume too. So we're looking for that move here, but it has to. We know that these guys will spin out of control when we get down here. So that that's when we have to identify where were they be compelled to trade and it would be down below this area in here. Okay, that's a little that's too late for getting involved. Right because now we're back in the middle of the range and we don't know what's going to happen in here. If we zoom out a little bit more. Yeah, not bad, not bad. Like, you know, we can listen out a bit more here. We can just identify that. Okay, so we can identify these guys in here and then there's tons of selling all the way down. Right so anyway, it nicely kind of cuts off the top here and identifies the potential trap traders in here. Yeah, good, great, great point slow down. Thank you. You also were showing here, let me let me show this image that he put into discord here. Okay, identifying here the iceberg orders. Okay, so let me turn this on as well and I'll confirm it. The lots of icebergs getting filled here. Okay, look at the sell icebergs not many. So what does this mean? What can we put into the picture here? Well, it's this is this is where you know book map is really helpful here. It's giving us this information. But what do we do with it now? All right, so let's we want this to under we want to understand this data and this information here in the bigger picture. So if we get all sorts of buying icebergs in here, I mean these are massive. Look at the size of these things in here. Let me let me turn it on in here because there there's a ton. It's here. You can see it with the blue line here. Now is it covering or is it positioning for our opening positions in here that we don't know we just know that our iceberg transactions in here. And it is a lot. Okay, here's our zero point down here. And then we're at like 12,000 in here on the cumulative. Let me show you my settings in here for stops and icebergs. This is what I use. It's different than Scott Polsini, for example. I use summation here for the sub chart for stops and icebergs. And there are two different axes in here. You just have to note that. And but it still gives me this this representation here or relationship between stops and icebergs. And that's what I want is the reference. This is a massive amount in here. This is something like, God, I wish I could just ping Scott and have him join and say, like, Scott, what are you doing in here? What do you think? You know, really a ton of iceberg buying in here. Okay, so let's let's put this to use though. Now we have a lot of icebergs. Okay, great. What what kind of information can we we gain from that here? Well, we know larger players use iceberg orders. Let's get a candlestick chart off. We'll come in back and revisit the candlestick patterns. Potentially here. So we have a lot of larger players here. And they have been buying since this point here. Okay, so all the way up to here to here actually the most of it is here, right? Okay, so a lot of icebergs in this area here in this this little area. And it's a huge amount. So let's go through now those those buyers here now. We know that the sellers remain in control precisely when those icebergs were getting filled. So this is our point here to watch up here at 66. And we want to watch it closely. Okay, for the day so far. Right, so because if we let's go through a scenario in here on the higher timeframe a higher timeframe move here. If we can get buyers back up above here. That means that any of these larger players that bought remain or they will be in in profit. And you can lean on all of that larger player buying in here. Okay, even though we see all the sell dots in here there on the other side of the trade getting filled with their hidden orders. Okay, we don't have much in the heat map showing in here. Right with the heat map is showing here and here that we were targeting earlier between like this 57 to 55 area. Now we have high liquidity in here. Okay, so what this is where the hidden orders tell us more like there was high liquidity in here getting filled is just was totally hidden from the order book. So what we would watch and look for then is is if we can get back up above 66 here. And then we see the large buying coming in. That's when we would know that these guys are they're behind it and you know that that's that gives you wind at your back in your setup. And that's where this this data here with stops and icebergs can help you icebergs in particular. Right now, one of the one of the things about icebergs is larger players you know who knows like what time frame what are they're looking at are they hedging. You know what what is their activities that that we don't know are they buying to enter or they are they buying to exit or or both. Okay all of that information we really don't know. And that's a lot of kind of information not to know now stops is something different stops are smaller players like ourselves. That we'll just get stopped out and look for another high probability entry. And that that's a lot easier to understand. So that we can lean on more. We can lean on these icebergs if we go through that scenario but it's got to come up to you know to the 66 area. And but the the stop runs and then acceptance or rejection above above or below these stop run areas again give give us a lot of information. Okay now here comes our move that we were originally looking for. Back here with all of that selling. So we this is a comp this is a really kind of complex move in here to be honest. We got a lot of things going on in here for this to drop down to 50 is and the simple move down to 50. Let me explain. So this is where we noted the sellers being in control. And then we noted the this is not a low volume pullback here. Right. So we're like you know that's not what we're looking for. And let's so let's let's actively manage at that point or consider your management at that point. And then you can even look for a potential mean reversion and then up in these areas in this whole little area in here we're like no. I don't like it. You know this is not high probability we stayed away from this area in here. You know about you know if you know if you do see something you can take it in certain directions in here but make sure that you reduce your size at that point because it's not as probable. And again this is something you'll have to look at and back test and and work. Provide work for and really quantify that edge for yourself. That's really necessary. We can point to these areas in here and that's exactly what the goal here of these webinars are is to give you some really good ideas as a starting point for you to go back and test. Okay, so we can confirm it in the live market as well. But you've we've got to have many instances behind us to look for that. Yeah. Thanks slow down nice nice imagery. If you have let's see hammock if you have a large amount of liquidity to the north. Let's say would price be attracted to it or be considered selling pressure that that's what that's that's a great question. It's all about context. Okay, so if that high liquidity comes in here. Let's sit let's suppose underneath here right right now let's suppose like right now. We had high liquidity come in here right underneath here and we see this buying coming in like this and they are see other pulling in here that liquidity. Okay, then we know that the relationship here of that high liquidity that just jumped into the order book has repelled sellers. We have not traded yet down to 50. And that's what we're looking for even in this move we're looking for 50. It still hasn't gotten there. It might it might have to do a lot with the icebergs getting filled in here. In fact, again, look at this this is not a low volume pullback in here. Right now here's our here's our liquidity here we're going to get our answer hammock. This is what we're looking for. We're going to see if this is acts like a magnet or repels it as an opposite of the magnet. I'm looking actually for buyers here. I know they pulled liquidity. I see the buyers come in here. I'm looking for buyers and I would be targeting 59 up here. Now, would this be tradable in here? No, I don't think so. I don't think it's worth it. I really I really don't you're in the middle of the range and is coming back up to the actually the bottom of this range in here where it broke. I don't like it. This is a horrible entry. You know, you'd be looking for maybe maybe a pullback here. But yeah, I just I don't like it. I don't think it's in a range where it gives us good risk reward. And there's the transactions into it. Now let's see. We get our buyers come back in. Look at the spikes in the buying in here. Look at the look at these dots. Okay, I would look for buyers to come right back up to the top of this range. This this I actually would look at here as being higher probable probability of just trading up to here, just up to here right now. That's that's it though, because they trade it into it and we bounced away from it and we're seeing some buyers come in. Okay, very, very small little example here. Not a trade recommendation. Yeah. We don't we don't give the financial advice here is something it's something you want to, you know, look back and study. Okay, so there it is. There's the move is you know it's not much right it's like a point and a half or something somewhere around in here like 55 to 56 and a half let's say, yeah point and a half. Right but you see what I'm saying in here. Like we're leaning. This is what we're leaning on in here and this is this is not that's why I said this is not a bad example. What we're leaning on in here for this little move just up to here. This is what we've got. Got buyers here here and here. It's not a low volume pullback. We have high liquidity. Oh, they're pulling here as well. And we have high liquidity in here up at a higher level. It transacts and it initially kind of repelled them and then it transacts and then we get the reaction we got where buyers above it. Okay, well, then these buyers still remain in control. So I'm just looking forward to come up here. That's it. Make sense. I hope that answers a lot of questions for there for you hammock. And then now if you get even more in here now, I don't like it again. Like I said, I think this is too far up to look for a really good risk reward here. But if we can get our buyers up but in here again, we'd be looking for this liquidity now at 59. And now again, you know, they're bidding up here, but I want to see them bid up higher here buying looks good. So maybe a quick move up here. And our stop run, we should see a stop running. We have not seen it yet, but I would anticipate a stop run above the range here. Let's jump back here and then not jump out of the minutia for a moment here and what's happening. Not much has been happening. It's been some back and forth in here on our 15 minute chart. Okay, I'm still looking for sellers to come in and drive it back down to fill the gap in here. It's just partially filling it. Whoa, slow down. Wow. You got a few images in here. Great, great stuff. Okay. Slow down. I think we're going to have to do a webinar or event with you. You really become the resident expert here in these Wycoff Springs, which is a trap trade. The spring is the trap. And that's why it works. And you'd be looking for your stop runs. It tested below here trap traders that are looking for the move lower. And then they're all upended in here, up in here. And then you're targeting top of the range and then maybe continuation as well. Yeah, it's really great stuff. And it's even better if it comes from strength to begin with. Like this was a move up and then this back and forth. Here's your move down your trap. There's your spring back up to the top of the range. Take some off, look for continuation. It's really nice work, Stephen. Slow down is really, really got some nice stuff in here. And look where you got in here. It's really beautiful. Beautiful entry here. You know, you're looking for that strength. You got in here looking top of the range. Beautiful looking for that continuation. Just this picture perfect. And you traded it. Here's your pullback. It's still accepted above that range as a pullback to the range. Here's your ultimate target at 65. Beautiful. Really, really nice. Yeah, I love it. Yeah, look at this identifying this. See how you can just identify these things. And you have these players on your side. You have this order flow on your side. And that's what we want. That's the edge where we want to look for. And slow down has turned that into a setup. And it's already been based on something that Wycoff came up with. I don't know, like 100 years ago or whatever. Yeah, yeah, yeah. So thanks, thanks to slow down. First is entry detail and then viewing the follow-up to that. Exactly. It's a beautiful entry. You're waiting for those buyers to come back in. Now, this is something like, because you want to, how do you know otherwise? And you don't. In fact, there's some risk there with that entry. It worked out beautifully. There's some risk here still. Like it's really up here. Now, you give away, you know, some of that profit if you take it up in here. But it would be these here. Let's just zoom in a little bit closer. Like I think you had, I saw another image of yours. Like you're getting in here looking at this as being the trap and then these buyers come in. So this is great. It's low risk in the sense that you don't have much at risk. But this is higher probability here. But your risk is bigger now. And that's how it works, basically. But is it really risky that you're going to get stopped out at that point? It's less risky you're going to get stopped out. This is why I mentioned that here is because here's the selling here. And this is where the buyers are going to upend those sellers. And they've got good momentum behind them. So like basically anywhere in here, depending on your risk profile, you can look for entries in this. So if you got in up here, you're not making as much. You got in here, you're making more. But it's also really probable that these guys are going to be the trap. And you don't want to be caught up in the trap. And then we can have the, you know, it basically exhaust out here. Maybe it does a retest here. Swing here. Let me just draw it. Maybe it comes up here like this. You get these buyers here like you do. But then it comes back down. Maybe it comes back up and retest. We get our exhaustion. You don't get buyers. And you see sellers in here. More sellers in here. Now you're the trap in here. And you get the continuation down. You're the trap trader. So that's the risk that you take here at this point. Because you don't quite know that that momentum is coming back in yet. Here you have a better idea up here. Like a point higher. However, now you give away a point. So it's up to the person's risk profile. Really, really great stuff though. Good discussion. Well, that reminds me. So let me since. We're going over an image from a book map Academy member. Slow down. And I want to remind everybody that we have a meeting later today. It's open to everybody. Let me show you where it is. And if you're interested in joining. So it's the book map Academy here. And I'll put this webpage in the chat. And so there you go. And also let me put it in YouTube here. Hold on. And the goal here. Is that. You know, we're offering this book map Academy to elevate your trading skills. Basically, it's all free. And how do you join? Well, you need to apply. You need to apply to the book map Junior Academy. And you apply down here. Once you've applied in here, then you got to come back into our discord channel. After you've applied. And the discord channel here is up here. It's this one here. The book map Academy Academy applicants this one here. Okay, so come in here. And then ask for your spreadsheet here. Right. Oh, you never got your. Trader you never got your spreadsheet. Oh no. All right, I can get it for you. Sorry about that. So anyway, we're going to have a meeting in here in the voice channel later today. Okay, it's going to be at 1pm East Coast time. All right. And what the Academy is all about is. This process or the steps in here to become a better trader, much more professional trader and slow down is exemplary of this process. He came in, he was interested. He was already creating good imagery. And then said, well, we have this thing called the book map Academy. If you're interested. And he said, okay, well, you know, here, I'll just create some images. And, you know, he applied for the Academy. It was accepted. So then he became part of the book map junior Academy here. And that is a testing ground. You create, you have to, we're going to filter out those that are interested in those that are not. If you create good content and you meet a quota of one per day, one image per day, that's it. It's got to be good content though. And that's more subjective. But, you know, you, you understand order flow at a higher level. So get good at it. This is an opportunity to identify and get good at it. And then if you do, then you will, you applied for book map junior Academy. You become a member in the Academy. You prove yourself with that one piece of content every day. If it's good, then you will be invited to book map Academy. That's where you can get book map for free. And then double plus for free. So you've got to earn it every month though. You don't just get it lifetime or anything like that. You'll get it for the month. Make your quota again, and you'll get it for free. If you double the quota, I will give you also the MBO bundle for free. Access to our stops and icebergs. And you can, maybe you're happy with just completing step two. You want to take it further. And that's where we're going to go over today. We have some book map Academy coaches. And we're going to review people's trades from the applicants to the book map junior Academy. So we're going to go over just like we were slowdowns image. We'll go over and review it. And that's what we're going to be doing later today. And if that's interest you, then come to our discord channel into this area here. It's going to be in the voice channel. You'll see the live button later today at 1pm. Now, step three is the coach becoming a coach. Step four is becoming a book map Academy streamer. We already have people that have reached that level. We have three. We have Doug plus. We've got Tom B. And we have Moby and they are now streaming. In fact, Tom will start streaming in about five minutes. Moby was on earlier this morning at eight to nine a.m. east coast time. So we're offering you this kind of on ramp to becoming a professional trader and it's all free. Get good at documenting and journalizing your trading activity. And that's it. So anyway, if you're interested, I put the link there into YouTube and take it from there. So now let's go over this here and we'll leave it at this here with the order flow reading in here. Look at what has happened down here. We never even traded to 50. And now we slow down had shown us earlier 12,000 iceberg orders in here that started to transact actually back even here to be honest. Now we know their position as well. Okay, very, very clearly. And this is very objective here. It's right here. I like this one better. It's going to be better on the chart. This is where they got in in this area in here. Okay. This is where they're going to be in profit up here at 66. Right. So now look for ways that supports this idea for it to continue on upward. What is the order flow telling us where are their trap sellers in here? When can we get like a those buyers come in? And what is the liquidity telling us? Do we have these players on our side to support this idea? And we don't at the moment at all high liquidity down at a lower level here. That's not good. Do we see support in the book on the bid? No, we don't. And do we see buyers coming in? Well, they, you know, nice move here to the upside, but no, not yet. Not yet. Okay, now if those things change in here, if all of that changes here in this kind of weather pattern here in the in the setup. If that flow changes, then we have something. Right. So I'll leave you guys at that and hope to see you later this afternoon. That is. Yeah, like I said, it's at 1pm. Okay. All right, guys, I got to go. I'll see you then and have a wonderful day. Good trading everybody. And we'll catch up with you later either later today or we'll see you next week. Thanks for coming everybody.