 Good morning traders and welcome to the book map live trading webinar with Scott Pulsini Futures trader we do this every Thursday at 10 a.m. Eastern. So We'll go through live trading and analysis from Scott's perspective what the setups he looks at for trading futures You get to peek over his shoulder see him understand his analysis reading of the order flow Taking trades and or managing those trades. That's really a central part of this Understanding the trade management and money management You guys know who Scott is Let's go through it We have his contact information. I'll be putting this in the chat so you can reach out to him He offers mentorship and educational services and a chat room has an educational course has a lot of stuff here We'll put it into the chat for you and you can also reach out to him via his email or his Twitter I need to go through the disclosures and then we'll turn it right over to Scott General disclosure all book map limited materials information and presentations are for educational purposes only and should not general disclosure All book map limited material and should not be considered me. I'm sorry All book map limited materials Information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations Live trading is in simulation Demo paper trading mode and strictly for educational purposes live trading executed in simulation cannot accurately represent realistic trading performance risk disclosure trading futures equities and digital currencies Involves substantial risk of loss and is not suitable for all investors an investor could potentially lose all or more than the initial investment risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and Only those with sufficient risk capital should consider trading past performance is not necessarily indicative of the future results All right, sounds like you're there Scott Hear me. Yes So let me grab your screen here and Hold on So if you can start presenting Scott, there it is Yeah, my screen got it Excellent. I'll set to go All right How are you there is? I'm great. I'm a little baffled by What's going on actually last few days with the trade and it's been really strange trade and then today with the SI indicator I have not had one signal I had this running for over an hour why not have one sitting in like like 15 plus markets, so I don't know I Mean others really happening. So I I don't know I've never seen that before at least getting it You know some signals firing off somewhere in grains or natural gas or something in there has not been one signal so that So okay, I've not put on a trade because that's that's my driver of my trade. So Okay Sitting here waiting for something to happen. So we can go over the In the context of these markets and hopefully something will happen here a bit It's a really odd trade. So we had this run up in the morning here You could see the volume. It's just It's not pathetic, but it's not it's not indicative of what you would expect and I you know Outsides move like this was the you know, obviously we're chopping around now, but we opened up I mean this volume is barely getting over a hundred percent For a few of these bars and again, this is a relative volume chart Based on the last 30 days the exact time period so you can see it's basically been one bar over 30 even even on this It's barely been over a hundred percent. So that's just really odd and what's also odd. You can see we ripped up here Russell ripped up and then Russell just collapsed and these are just sitting here. So it's just some weird stuff going on I can't really put my finger on but It's what it is. So let's look at some of these markets here, obviously You know when you're trading you always want to look at your bigger picture stuff in the morning and Just you know, I have an idea of the market is you know, long-term bullish Intermediate team intermediate term bullish or bearish short-term bullish or bearish, right? So obviously these markets are I Would say long-term bearish still I mean, I guess this when you say this intermediate term long-term were obviously bearish but intermediate term I would say bearish short-term bullish so This is we're at an important area here where I was willing to take a short if something fired off And I'm just not getting anything so you can see So going back to here basically we had this balance. We've talked about this in my room many times I think we talked about it last week as well here and then Try to break down. We built balance here Launched from this went right through this. This is where I was telling everyone get ready. This is now bullish and we built balance More balance and you can see today. We gapped up So now we're in an area where I will consider a short Even though this is short-term bearish because we're into a longer-term area where this could Falter and that's what the zone is for right so you can see The zone was where this gap down on this day. So gaps are considered directional conviction Which is one of the four main areas of charting When you're looking at your longer-term chart, so that's important So something happened that day that caused that gap down, right? And you can see as we came here a few times here failed here failed now we're back in this area, so If I get a signal I will short this right and the other thing too is you want to be careful in these areas So say we came up to this area, but we built balance like right here and we were breaking out of balance, right? So balance against our just traders placing bets, right? Well, you don't want to be standing in front of a puke of a current balance Let me make this clear. So say the balance is right here set it down here, right? Well, yeah, this is an important area where this has failed a couple times already But do you want to be standing in front of short traders right now that are puking, right? So the answer is no but now right now. We're you know far enough from this. This is the puke, right? So this could pause here and in that minimum pull back to This balance area here, so that's why I'm willing to go short if I get a signal Overall though, you should be looking for areas to go long until something's violated Meaning this is not a good area to go long per se But if we pull back to this the top of this guy or the high volume over this guy, that's a good place to go long so Very excited about something my squat guy from financial juice So anyway, I will short this and I will watch very closely to be getting out of shorts and looking for long as if we pull back here So that's yes You so we do this every morning pre-market in my room as well So this is Ordinary to go over these markets just so we get a bigger picture of you and again You should be doing this every day Just to know where you stand because you don't want to be you want to try to align yourself with the longer term Shorter term and those are the best trades those are the trades that you get the bigger moves so you can see here NASDAQ This is a really important area this zone I drew so you can see gap down Directional conviction remember gaps or directional coverage. This is a regular trading hours chart So it's showing you it's not overnight. So it's showing you gaps gap down directional convection Directional convection Directional convection and what are we doing right here putting in a selling tail? Failed again. So selling tails are another One of the four main areas of charting right so you got Fort the four areas are tails Buying or selling tails and a tail is just instant rejection, right? Which is really important directional convection top some bottoms of balance areas and High-biome nodes of balance areas high-biome nodes are just where the most trade occurred So those are the areas that you want to pay attention to when you're looking at the bigger picture So I was really hoping to get a short setup up here I would have taken that just like an ES and there's just been absolutely nothing for my thresholds that I have set in here Hey Scott, just can you just Maybe just test it on the SNP like I mean it should be working. It just seems odd You have not received anything maybe just lower it on one simple the Threshold and see if you get it just seems really weird that you didn't get Well, yeah, I mean it I've seen it before obviously in equities or you know one or two markets If nothing's happening, but to be across the board and not have one signal all for over an hour That's really really hot. But then again, I'm looking at these markets. Nothing's really moving. So I mean it could just be Well, maybe everyone's golfing like I'm gonna be doing this afternoon. I'm about to go right now if This doesn't pick up So, I mean here's a good example of a we don't trade off these yet eventually we will More sanctions, that's really working out well. So anyway, you know, you can see here. This was a swipe right 1100 So you got to be careful though because for some reason these swipes are not equivalent to what you see on the SI indicator, right? So, you know, if I were to see 1100 icebergs, I'd be like, yeah, that's that's awesome That's let's draw that zone. It's not the same with the swipe. So you just got to be careful drawing here He is based on the same, but if you see like 2003,000 and nothing down here you can still draw the zone and you can see this market is reacting to this swipe Which you could trade off of if you want and trade it like a we trade our SI indicator zones where you can, you know, play An ATR out of here or 90% of an ATR out of here risk an ATR above there And you can play that but again, that's not enough for me to play and I'm not going to force a trade up here Especially with this weirdness that's going on. So I will just wait This is an important spot gamma level as resistance. We have hung out above here for a while But if this gets back below here, we should get a pullback at least to that Balance area that I was just showing you guys here Well, I would watch back into this zone the top of the zone is 4582 ish and 4469 ish. So looking for that Blood wig levels that we use in the room very very very powerful, especially for day trading short-term trading And then when they line up with the bigger picture stuff three from better You can see this is just chop fest Nothing doing. So just hanging around the yellow directional log. We had built new lugs overnight Come I call them lugs. So I don't say love with levels 45 times a day So this is the overnight trade Into this morning And we built lugs and so you know the tendency with these when you build new lugs If this isn't gonna remain a bullish a short-term bullish market You want to see prior red which was prior resistance just like regular charting right prior resistance becomes support You want to see the red hole and directional yellow hole? And it's been just hanging here now So this should if this is going to contain to be bullish this should hold and go to the red luck You can see why we may be struggling here if you go over here to the market profile chart This is a prior Composite market profile composite. So again, I know I go over a lot of basics on these webinars But you got to remember there's always new traders in here that are just learning and stuff So it's it's good to just go over so they know so you can see here. So if days line up I'll just show you what this is So this is a three-day composite So the general rule thumb is if a day lines up So say this day overlaps At least 50% of the value area in the value area of a market profile is just where 70% of the trade occurred that day if it Overlaps the prior day by at least 50% you can merge those two. So the reason I added this one is because if you get A day and then a lot of times it'll be like a day an outside day And then another day that was inside of the third day you can merge all three. So that's basically what I did here Even though these didn't merge anyway So that's what this composite is. So this is a three-day composite and that was from And and a March Middle March You can see Now we are struggling to get into We failed to get in there and that's where that and this is that zone And I just showed you where we've had a few down moves, right? And now we failed to hold Outside of this one Right. So that again, I would there were so many things up here So what you look for in your trading is confluence. So we know from the bar charts That's where all those down moves started, right? Not all of them, but a few of them, right? So you know this this is why you want to know all this stuff, right? You know, this was gap Just showed this but gap Failed and now we're back here again, right? So you know that and then you look at your market profile and you're like, okay Well, it's these are important areas. See if we can get in the composites So when a market accepts into a composite the tendency is to go to the other side Well, this one couldn't get in it and now it got back in it So now the tendency is to get back down to the bottom of this one And so you want to watch this one as well. So this was looking like that numerous reasons and then you go to your shorter-term level of levels And that was You know if we break this red that's bearish short-term bearish So then you look at all that and then you just wait for a real-time volume signal So you're waiting this, you know, that's what the driver of markets are, right? So you wait for that and then so anywhere in here if I got a signal I was gonna go short Especially now if we break this red, I think red and down in here and that's that prior balance area. So This is part of trading You know just sitting and waiting. This is where traders get into trouble where You know Your market's not doing anything you start forcing trades, right? And that they just because you feel either you want the action, right? Which is a big problem if you want action, you know, there's horse racing on 24 hours a day You could go bet horses, right? So they either one action or They feel the need they have to trade because they have to make money They have to pay their rent and so on and so forth and that's what gets traders into big trouble Instead of just being patient, right? And I know it sucks Especially when you're doing a webinar and nothing's going on But you know, there's just some days that you have to accept this So this is why I tell you guys You want to have multiple markets that you're watching so when you get days like this nonsense where nothing's going on You can move to another market. Unfortunately today every single market. There is not one setup anywhere Usually you get especially like natural gas is just been out of control things moving to 300 ticks at a time There has not even been a so I haven't gotten a signal in here yet. Let's see. What's this? So I have this at 150. This was a this was a dumb and dumber You can see this I'm not going to draw this on because it wasn't threshold But this was you could see it on the chart, right? That's basically that that was Stop run stop runs are not real buying. It's just guys puking and you can see it didn't do much And we actually went down retest of that area and failed So that's the whole promise of the real-time buy-in when you match it up with your your bigger picture views But there has just been this is one market you want to watch You also do have to watch this I didn't miss this one So I have my threshold set natural gas at 150 So I will not get an alert Unless that happens, but you got it you got to watch this so I had this set on reset So this could have been drawn, right? So I had a hundred and then right after that Actually, no, I take that back the hundred was up here and then there was another down here I was thinking that they were all in the same area. So if this would have come in back to back These two of these two and in the same area, then yeah, you can definitely draw that zone But this is a little too far I mean this is almost a hundred ticks away between this one and this one So I would not have drawn that so I'm not I'm not playing 130 tick zones, right? So but you do have to be careful You might not get the alert, but they'll be back to back spikes And then you want to draw that zone as if it's in the same area to take it if it's this far away then It's not we're drawing um All right, so I mean I guess we can turn this new a question and answer I can go to You know other markets and go over that, you know the bigger picture reviews, whatever you guys want There's just I mean there's nothing I'm not gonna force a trade if I'm sitting here by myself I'm not trading and I'm especially not gonna force a trade with you guys watching and you know Jumping on my coattails, and there's nothing going on. So you guys got questions on anything by our way And we'll sit here and wait for something. Yeah. Yeah, I have a question immediately I mean you just kind of spoke of something interesting Oh Always yeah, okay. Yeah, no, no, I'm just really curious like you you said that most traders Feel compelled to trade Due to two factors number one. They need to make money and number two. They just need the action I'm just curious of what you've seen and your experience over the years if I Mean I Do you see that with these other traders that most of them like those traders flop out pretty pretty quickly? Or they don't really stay in the game very long or if they do they're not very profitable Compared to another breed of traders that are Have a statistical kind of approach in their plan and that they are just waiting and watching for trades Absolutely, I mean it doesn't take a rocket scientist to figure that out. I mean if you're If you're jumping and jumping in markets and just just to trade I mean you are an Algo dream That's exactly what these Algos want. They want to take your money I mean that the like you can you can try to share your code as much as you want But when you break it down these trading firms with the algorithms that run 80 to 90% of the market action They are trying to take your money while how else would they be around if they weren't getting your money, right? I mean and that's one of the reasons that I believe personally I don't know the sort of fact But I think that's why the CME kind of started the CME there are the MBO data the enhanced data to help Retail traders because it got to a point there for a few years where it was just sharky-chark So it was just firm versus firm And you know that I'm sure they were complaining to and that's one of the reasons that I believe that they're not complaining that we have this information that us retail traders have this information because They need meat they need food to feast off of right and you guys are the food So, you know whether you want to accept that or not that's what's going on. So I think You know, that's why we get this type of information But the whole point is if you're just jumping in and trading just to trade just to get get some action You are an Algo dream. You're you're trading firms dream to take your money right so the guys that can sit back and just wait and Be it, you know, we liken it to being a sniper all the time You're just sitting in the weeds waiting for your signal your shot and that's what here We go finally starting to get a little bit here, but I'm still not getting that. Well, it's not three-tip yet You're just sitting waiting for your area your setup, right? So that these are perfect examples when you have your zones and you know, where 356 compre actually I forgot we Changed it but at least it went off You're just sitting waiting for certain areas and then I was so I wait for areas Whether it be the my zones or love with the levels so on and so forth and then I wait for the real-time volume to Come in so we just wanted to see if that was working I don't feel like getting juked by this a little time. So I'm putting these back to normal threshold I'm not trading off of 350. I don't care what's going on I don't care how bad it is, but I just want to make sure this was working correctly But you can see that was 276 remember this is net net So there was probably some there's obviously some cell ice in here that made this only look like 276 You look you can see at the bottom left corner there Yeah, so you can see that was 276 So there's obviously a little cell ice, but the computer read it off This is whatever the threshold was hit which way we added at 350 So there's obviously two over 350 by ice, but then there was probably 70 plus cell ice So that's why you're only seeing that the net net So yeah, you know back to your question Absolutely the traders that can sit and wait and pick their spots Those of the traders have the best chance to make it in this business. If you don't you're you're not gonna make You know, and you're just food for the algos Yeah, yeah, I mean so what I mean like the majority. I'm just curious like it Was the name of the firm that you worked at it was something tree Crabtree King King Street He's King Street King Street. Yeah. Yeah, I'm sorry You know how the majority of the traders like were they disciplined like that Absolutely not that's that was a thing so back then it was it was Relatively easy to make money, you know, like I said when I that was my driver when I first got to the firm I mean there was some real Jackasses in their part I think which I got there that I was like you talk to him and you'd hear him talk and you'd hang around I'm good, you know, you go out afterwards and then weekends and stuff with the traders and I'd hear some of these guys talk and not That I'm some Einstein, but I would I would just hear some guys talk and say boy This guy is not that bright like if this guy's printing money I know I can make money in these markets and then that was my driver when I first got there. So, you know back then It was so, you know, it was the markets were just coming on the screen, right? The the floor was drying up as far as the volume and guys were coming on the screen But back then you can literally guys were putting like a bid down here Literally this far apart like hundred hundred ticks hundred points wide in the in the Nasvek And they would be like hit hit and they get hit on both sides and they were making money that way and they come Up with strategies and guys were making money But you would have guys like I literally had a guy when I first started I was I had an office roommate That's how most of the traders were once I got it. You know, I started making money I got my own office, which was nice, but I still was always in there talking to myself So this guy was in there and I'm not kidding I'm not exaggerating this is a perfect example and this guy was one of the first guys to get fired Right, he would come in there so he'd go get a glass water go to the bathroom He would literally sit down in his chair within two seconds He just throw it throw in a market order and buy it and then they just see what would happen So it's like that's what I'm talking about. So that's not what obviously what you want to do and the guy I obviously blew out immediately or got fired immediately. So Yeah, I mean, it's just Trading is 80 80 to 90 percent mental as far as you know discipline and and following your rules and not trading when The trade sucks so on and so forth. So it takes a lot of work and a lot of screen time to I mean some guys can naturally natural gas numbers come out here if I'm Could naturally do it but most people it's against that's why trading so hard because it's against human nature Right, that's why it's like opposite everything that you do in trading is is opposite of what you would do in real life For normal life right like as far as you know, that's why people you know the market's moving your way and You know you get in a short so you got short right here and it starts moving your way You get out right away, right? Because you see you have money and you don't want to give that money back That would be like you having money in your pocket and then walking outside and throwing it You know if the market comes back It's like you throwing the money on the ground, right? Well, you never do that Well, that's why it's so hard for traders to sit there and watch this come back watch it come back and see Hey, you have your rent paid watch it come back That's why traders can't sit in trades because it's against your human nature. So it takes practice to be able to Tip withstand this and this is what we work on we talk about in my room all the time You know when a market is in an area that is not important Don't let them how go you out of the trade, right? Like it's there them meaning that the big money that's trying to take your money, right? So if you're not you know say you were say you were short right here So you got short up here if we got a signal I was really hoping to get one like I said didn't happen and say I'm short We'll say it comes back here right to there Okay, I just had a nice profit and it comes all the way back Am I getting out most traders will because they don't want to get back all their money Well, this didn't violate anything all that is just come back to the same area and that could happen And that's what balance is right that can happen the entire day So the point is you don't want to be getting out of trades You know once you have your your rules and your setups until an area is violated So it's like if I get in this short if I have a short set up They say there was a dumb and dumber or stop run or something up here Well, I know that area should not be violated once it's violated then I get out right or even if you're trading these Owns so you know if you're just if you don't have book map you just train zones You get short right here Well, you got to put your stop up there Because you don't have the benefit of real time by him, but you don't get out until this zone is violated, right? That's what traders cannot do they get out because they're watching their P&L and they watch the market come back and Again, it's against human nature. I'm not saying it's easy, and I'm not saying it's natural But that's why trading is so hard because it's unnatural as far as your mental human human tendencies All right, still no signals any any other questions for this For me or anyone else not not really There's a I don't know what they have a question, but just overall though I mean if you guys had bad questions about how I do things or SI indicator So on so forth ask away You can see here, you know everything's fractal as far as balance area, so this is overnight, right? So it's obviously not as important as the regular trading hours, but this was actually at this balance area here maybe Scott if you if you if you don't mind There's some newer newer traders here on on YouTube and I just go kind of recap your your overall kind of what you're doing and in your strategy I kind of wrote it in the chat there, but You know you're looking for it's kind of it's interesting how you you look in wait for An alert on stops and icebergs that are significant, but then you kind of you work it backwards You know that's like it's it's a signal, but it's like no no no hold on Let's go back and now check the context of the bigger picture and does it fit etc? And then you go and look at placing the trade and then managing the trade Right, so I know my areas and I or you know or the context in the market looking at prior areas or logs I'm just trying to find some Good Setups, I don't think you guys want to see Justin Rose golf swing, but if you do let me know let's see Trying to see some stuff I put in the room actually let's just do this This is probably the best way to do so if we go to my room I Can show you kind of the process because I'm I'll show the Because I'll put in the room like when there's setups. I'll say hey watch out for this Remember what the stuff was okay, so here's a good example. I think let's say Just from 419 So before that I'm what so I'm watching this right so this is a good example. I'm watching. Yes, it's from a couple days ago So there's a many things going yes, I spread by a 155 that's because the numbers coming out right now, so we'll let that settle down But so I'm watching the market right. I know we're extended. I know we're into the red lug That's also confluent with market profile Imposite hi that is an area where it could fail I know it can fail at the red lug and we were over to standard deviations away from VWAP here's VWAP Here's one standard deviation which they called a value area. Here's one and a half Here's two so not over two but pretty close so I have all these things lining up right do I short automatically no Most guys would there's three different things that you could trade But I also need to see the volume confirming my area Right, that's how I trade because once again for the five millionth time if you guys found these webinars real-time buying It runs the show so then I Wait for a setup and there it was right Remember what happened on this trade, but We'll go in there in a second that guess has been awesome trade lately So we get up to that important area that I just showed you and then here's another thing. Here's another Confluence Vulture important spot gamble up so you had it a stop run at the time again I don't even know what I don't remember what even happened here because I feels like it was 20 years ago You have a stop run that's not real buying potentially right You don't know until a brace away from this You know if it holds then it's a stop and hold then real buying comes in behind it But this in its in essence itself is not real buying it's someone puking or traders puking right so I know We're into an important resistance area with three or four things in my favor now I get the volume set up now I want to short this and you can see I already had this set up to short this right this was 90% of an ATR I was ready to short that market and then that's what I put in the room And then I was looking at the real-time hero as well that gas ice verb cell energy 150 com for us. Let's just take a quick look here and I'll come back to this So book my pass this as well. There's real-time hero, but I use the spot game on the website Just because it frees up my book map memory stuff Let's see what's going on here All right. This is definitely tradable First signal today Yay, all right, so again when you draw these zones for your newer peeps You want to pick where this spiked and you want to incorporate all the prices that it occurred or occurred in that spike Right, so that started over here. I don't just draw my my line and keep it here You can see this market went all the way up here during this bike So I got to make sure I incorporate those prices and it came all the way down here You can see like you can hear this their hammer in This is tick strike over that too and then you want to make sure you get all the prices and that came down to here And I usually that was by ice so I like to make it you know similar colors Just so I know what kind of action it was that was blue for the by ice Right, so now I have my zone So that's step one. I may be missing the straight already. So We're obviously they're hammering this out of here. I mean this thing. I'm not kidding you It's it's the most algorithm written market out there You can see why it looks like a Christmas tree, but when you get real money coming in they run over the algos and you get to 300 tick Moves, so let's quickly just take a look here. What's going on? Do we have any important areas? As far as my zone is not really this thing has been absolutely vertical lately and now Basically, you know, this is a balance area. We had balance here. This is a good example So we had balance here again balance is just guys play some bets. We broke down. What are we retest? I buy a note where majority of the trade occurs in a balance area What what happened? So what what two things do you guys see here that I just talked about the two two of the four important areas of charting right here right now That you can literally go back and draw this zone later anyone Tell me if anyone puts anything in if not you guys are all grounded And you're all in the dog house and the guys that are in here from my room they better be answering this correctly Are there's gonna be some verbal lashings later? Anything Bruce Bruce why don't you tell me or you're gonna get a verbal lashing? What do you see right here? No, it's okay like they're starting to reply here, so We have a selling tail retest fail rejection Right well right well just right now is what happened here Yeah, we have the retest failure, but you had the selling tail instant rejection now directional conviction to a very important So what I'm saying is this isn't this is 100% an area that you want to draw Or future reference right? So you can you draw that and Then this is where this directional conviction started you draw that so I can promise you when we come back to this area It's going to be a very if it comes back to this area And this is what this is what trading is now you sit here in your way You're like, please come back to this area and give me a setup so I can short this market right or if this comes back here And it goes right through Resistance now becomes a support right so now you have your area That's number one Now you wait for a setup there, but we do have a current set up here So let's just see I was just seeing what was down here as far as can you take a look at that area in book map And look at the order flow Yeah, so this was Pretty much 7711 it was up here Yeah, I remember the number just came out to us to ask what caused this directional conviction But it did still directional conviction and so that was All the way up here. Let's see So that was that remember we just pointed this out earlier. That was this dumb and dumber area here This wasn't quite threshold, but that was there was no real buying up there. That's where you had the tail Right, that's the tail. That's that it's to rejection. That was a stop burn. You had it's not real buying It's just guys p There you go, and then you the number came out and then you had directional conviction from there That's a Mario basically from here down here, right now Now we're returning this area now you're seeing sell ice come in To that's drawable What I'm gonna trade this is So this is looking short-term bullish, right? We may not get back to that zone does that mean I won't short right here No, because Everything's gonna start firing off at one time. All right, so this is let's just draw this most current setup But I'm leaning to the sell side right even though this I know we're long-term bullish, but what just happened tells me This could be bearish and especially if these areas hold As a bearish setup and that's gonna be even better because it's in line with my thesis as my thesis is always correct No, they're probably wrong more than half the time But when they line up to the volume that you're seeing those are the best trades, right? So you can literally just say as a trader. I'm only I have this is my thesis is what I think should happen I'm only taking setups in that direction. There's nothing wrong with that That's like being the sniper mentality. All right, so that's first and foremost Let's see. This is there's definitely a spike in the ATR here because of the yes, so you were up to 64 Let's move this over here. You can see that monster move here. This was a we went from $7 down to 670 so those those like a 300 tick move right there Right, I mean this thing again if you if we are lucky enough and you can see this here This is the shorter term stuff. We're lucky enough to get back to here. That's that zone I just drew right you can see that zone Incorporated that balance area as well if we're lucky enough to get to here and they get a volume signal up here That is going to be an excellent percentage Short because you got the directional conviction and then this was the tail on the longer term on the hourly chart Right, so I don't know if we're gonna get up there But we do have signals right here as far as volume signals that I will take a short And this is telling me that pretty much want to be short until something changes, right? So I'm not playing for that area per se we're on this webinar and you know I don't have to wait for that area that area is very you know if you like I said if you are Disciplined and you wait for that area. You have a much higher success of a of a winning trade In that area where you know something happened, and then you get real time by let's take a look at our lugs So we came down almost tag the blue pretty close. We call that baby lugs. It's just a That's another support level. So what what what story do you see here? So this is telling me something different right now, right as far as I'm thinking short term bearish, but what just happened? Well, we couldn't even tag the blue log Rejection and what happened here? We try to get inside this marker profile, and now we're failing back out of it That's not bearish if this comes back down and this is actually perfect because the setups that we just saw Again a return back to this area where this happened I will take a short even though we would be out of here, but we're far enough out of here We'll take it but say this turns around this area holds the volume that I just drew Which we'll go back to if that holds and we get back inside here Then the Tennessee's to get to the other side and that's a 200 200 tick move if we catch it right And that would be down here and we draw new lugs and it would be glorious so now So we are below the yellow log so when we're below the yellow log I will take trades aggressively meaning 90% of an ATR out of the zone. So let's go to our So we're still in this prior iceberg zone, which was this And then you had a little so ice here up here. So this is 170. That's this black zone So now I will trade this to the short side 90% of an ATR below here again ATR is very elevated right now 63 ticks So what you could do in this situation when I tell my room as well is you know when a number comes out or Something crazy happens and you have a spike in volatility. You could go to 20% of the hourly ATR So let's see what that is and trade off of that instead As far as the entry So the hour of the ATR is 180 to 82 ticks which is that's elevated as well I mean you take 20% of that is what 36 so you could You could use the 20% of the hourly and just use 36 instead of the 60 for right now just because you know this this ATR spike is not indicative of Probably this is gonna die down right just because there is the number here is your spike, right? It's probably gonna come back to this level and that's right around that 36, right? So you could play 36. We'll do that on this trade, right? So meaning Let's say 36 is the hourly ATR I'll put that and plug that in and I want 90% of that is 32.4 It's 33 ticks below this zone. I will short this aggressively 30 33 ticks below this black zone because that's the most recent thing that happened, right? So obviously I can't Just between if I get 30 ticks above here, I would be out of here. So that's 70 Plus 30, that's a hundred ticks. I'm risking right so I could basically put on a two lot So let's say so 30 what I say 33 ticks This is 88 That's 55. I'm just done taking the last two digits, right? So I will short this at 55 It's a good example using a different ATR. I don't you do that very often 99% of time Alright something else is coming in we may have to adjust this If I see it on here, but it's still in the same zone. So I'm gonna keep this like it is So now if this comes down here and fills me, which is one of the reasons why I still want to go short This rips up higher and I get filled and there's something up there I'd much rather short it up there, but I will short this will be back in that market profile Then this held this ice bro. That will be broken ice and then you have this which is a Titanic setup When market runs into an iceberg like Titanic, I know it's very high-tech thought process there That both of these are saying lower if this gets down here So that's why I'll take that trade and then I will pull my stop 33 ticks above this black zone where this sell ice came and then I will See what happens the only issue with this trade Which I don't usually take is I will be shorting and see how far we have into the blue luck No, it's okay. So I don't I you guys have seen this in the webinars, too I don't so say the setups all happen right here. Well, I'm not gonna short this into the blue look I will wait for it to break down break through here build who loves an envelope for short, right? But this is far enough. I get filled on that. That's that'll be a very nice trade. So we'll see what happens here And you can see again if I get filled We're back inside this profile, and then I expect them move to the bottom Okay, now that's gonna change things That's a lot. That's a whole lot doesn't mean we can't trade off that but that Yeah, look at this. Look at this coming in 400. All right, so I'm just gonna I'm gonna delete that right now, and I'm gonna delete this ice zone And I'm gonna make a new one because it's in the same exact area, but I want to this is still coming in Look at this. This is huge that you're going to see a major move off of this iceberg I can almost promise you I'm not saying which way but Could you guys remember this is just Traders getting loaded up right so someone just jumped in here and bought a boat load And they just ran into a mouthful of ice, right? So this is between this here 130 another 400. This is almost 550 icebergs in this immediate area I'm gonna so now we draw this zone, and I'll do the exact same thing. I'll still get in aggressively So remember I want to start it here because this is almost threshold on its own this little spike here Let's get it up to there Down in there. Look at this. Look look the alga is in this market That's why when the big money comes in they get crushed and it's awesome And that's why you get these huge moves, but other than that Regardless of what happens here. I can promise you when I get in this trade I'm going to be tortured with it for very very very few times We'll just run one way just because look at the alga is in here, right? You can see him pulling putting in pulling. I mean just look at the size on here That's what this heat map is showing you obviously is the size and it's just elbows see that It's just it's just a big game until they're until they get run over by big money, and then they had to puke them up So this is gonna be fun So 32.4 we said 33 ticks, so let's go 33 ticks below this zone now Puts me at 60. I'll say 61. That's where I will short that I'm being aggressive meaning so because we're below the yellow lug yellows up here, right? I will be aggressive on shorts below the yellow look to go along this I want to see a full ATR What do we say 40 or 38? Whatever it was. We'll check it again if it does it come back retest failure Then I get in at 90% I wait to show me that to go along if we're below the yellow look And if I end up getting long my primary spot to be watching will be up where that directional conviction started up here So we'll see how this plays out, but I'm telling you there's gonna be you're gonna get a big move out of here One way or another there's some loaded up traders now, which is it's fun to watch and puke. All right, so we'll wait on that Still not one thing in equities. I did hear something in July So if you guys are trading soybeans or wheat roll roll over to July, they're the majority the volume is In there This is wheat. Yes, you can see 12,000 13,000 versus 3,000. That's wheat You guys should always be checking this to make sure you're on there for all these products to make sure you're on the right month Go to quotes Soybeans it's not it's there's more. I mean it's kind of split so I still have all products up But you know, obviously there's more in July right now, so Just keep that in mind if you're trading those products This is Here's July. I'm not seeing anything significant in here. That was July, but that was weak So I heard it in soybeans It's 150 We'll draw it. I like to see closer to 200, but you can definitely this is my threshold That's why it announced it because you can see it was all one house, too You see this where it says executed 150 e 150 that means it was one player One house one one trader whatever It's usually icebergs are usually the bigger obviously the funds and the bigger money Because you're trying to hide their orders, right? That's the whole premise of an iceberg because if they put it in the order book The market will run away from it because the elbows are set up There's elbows out there set up to run away from size to make the person try to chase it And then they fill at a worse price and then it turns around comes right back So that's why that's why firms use icebergs and like I was saying I'm pretty sure why the CME is allowing Us to see this information Much to probably the dislike of these bigger firms is because we are the food for the bigger firms So there if you know if the retail traders not in the game Who who the firm is going to take the money from each other, right? So that's why I think this is here to stay I get I get cool emails all the time Well, what what are you going to do if the if the SI indicator they take away the info and they could trust me I told you guys this many times in the past they used to have I had this little box on my TT And it show counterparty every trade that you traded you can see exactly you traded with so it turned into a big poker game every day I you know it'd be me versus this guy at Gilbert and I could see every time I traded with him I can look I would load him up with like 2,000 contracts And I knew how many he had before he had to puke and I could see like if it was a house I've never seen before and it was big size coming in I get I need to get out of the way that type of thing and Shockingly they get rid of that. I wonder why so my point is yes, this could disappear I don't think it will because they need the retail trader in here trade or Who the firm is going to take money from all right? So let's just see what this is real quick. I'll answer some other questions. Let's check out our lugs Swabian lugs. Actually, I think this is I still have this on May That's not good. Let's just change this real quick and then we'll come back to heat how they've changed this now This is different. It's here a chart that's up. Let's check out our gas All right, so this is all this is is breath-holding is what this is. It's just sitting in here These buyers are like mm. Okay. Well, nothing's really happening here Yes, and now we're starting to get some signals so nothing happening yet We're still in this black zone right this monster cell ice There's even more that came in after that another hundred thirty-eight. He had over 600 ice in here That's gonna be some fireworks when we get out of there Let's check out Russell This was the market that was diving when everything else was ripping earlier which was kind of strange here We go. That's definitely threshold 150th threshold and Russell when I say threshold meaning I need to see that amount That's a significant amount that you can trade off of right and that is from when I made my course I went back up months and months and months and figured out the threshold for each market And I've been watching this and the thresholds are pretty much right on from when I made the course two years ago This one's actually not on my course. I didn't put Russell in there, but 150 for us alone if you're trading down you want to use a hundred for now All right, so that's that step one got our zone Let's look at our Ludwig levels or below the yellow Or below the yellow log with a log so I'm meaning I can short aggressively You want to be careful shorting here unless there's some decent relative vine because we are at negative two standard deviation And that's where you get The snapback many times so that we know we're out here and then you want to look You want to look over here at market profile? This is just a single day. We're kind of a nomads land We're in the middle of this one here. This is from a while ago, and then the most recent one is here So there's really nothing telling me there I could do so for that ice came in right here That would be a very good opportunity to go along and that'd be close to the blue look to which still may happen So that's not really telling me anything so let's look at our chart bigger picture stuff So you should have already have this stuff in your mind, right? Every morning when you pre-market you should go through all the markets you watch and see where we are bigger picture It doesn't take long especially on the longer term charts because it's not much different day to day, right? But you can see here. This is interesting from a Short-term perspective this looks bearish to me anybody tell me why what do you see happen there? What is that Bruce? It's below the V-Pok there or most rated level failed right Yeah, let's fail break out. Yeah, so try to break out So all these lungs are like yeah, I got it. Oh wait. No, okay. Well, hold on wait. This is where in trouble We got a pure that's what that is but Which is bigger this is more recent this is a little bigger This is multi Looks like a week-and-a-half balance, right? So this could just come to the top of this Or this little balance happen on top of the bigger balance and could just bounce Right, but shorter term. This is not what you want to see if you are long So now what'll happen? So this could do anything here, right? This could turn around bounce off the top of this guy come back I mean again, you got to favor the most recent action and that would be short Especially if we get inside a market profile so on and so forth But if we get through this high-volume note Actually, you can make this a bigger one here if this gets below where this directional conviction started you're going to see a Significant move lower, but right now You could short this but you got to be very cognizant of the top of this balance and then anything else that isn't so that means say we short this setup I'm watching very closely just that even the top of this right and that's not a lot. That's not very far away That's it It's pretty close to the blood So I will short it, but you got to be very careful here So this is kind of mixed signals, right? So when I look at that I don't have a clear view of what's going on when you when you look at a market and it's confusing Which is going to happen a lot just don't trade it You know, you don't you don't have to trade every setup that comes in these markets, right? But if you're using this you have the ultimate edge. That doesn't mean you just Automatically every time you see one you trade it right? I do it most times through my room and stuff just to show them the right ways to trade this But this is a market where I just looked at it and look short-term bullish. It looks long-term bearish I'm sorry short-term bearish long-term bullish. That's confusing. So don't trade it All right, so 38.4 is the ATR I just want to see which way we break out of here in ATR to determine what setup this is So we need to see 169 to the upside it did not get Anywhere close to that right so we don't know what the setup is so once again guys the reason I'm using guys and girls the reason I'm using ATR is Determine what this is because once it can get an ATR away from this. I know what type of setup it is so is this going to be a Titanic setup where the buyers run into a mouthful of by ice and then it holds and goes lower or is it going to Be broken ice so this is the big money is the big money always right? No, they're wrong sometimes and you want to take advantage of that too and that's what's called broken ice So if this ends up getting an ATR above here, these guys were wrong and then you can go long Right if you're if your other stuff winds up Still breath holding a natural gas. I cannot wait to see the break out of this zone. It's going to be fun to watch So we're still in this zone in Russell Where is one of these other markets even though nothing's happening in them? All right, so this is this is getting interesting for a buy potentially Or I'm considering a buy right we talked about this I'm very bummed that there was not a short set up here We talked about this all this morning why this could fail that would have been an excellent short opportunity Didn't happen. It is what it is. That's how I trade you could have said a I love that I love that idea Failure failure failure. I'm gonna pop in there and pull myself up over there If you wanted to risk 25 points on the trade then they have at it. I did not do that But now what are we coming into? On top of this where we just gapped out of so what is a gap directional conviction? Coming right to this area top of balance or any shorts that were caught Overholding their breath now is their chance to get out, right? That's what causes the retest failure That's the whole premise of that. So this is an area right here right now anywhere in here If I get a setup that is going to be a good long opportunity So say that does come here and I take my long and then I lose well That's going to be even a better opportunity To the short side because this will be a failed breakout of this guy, right? So it's like you take your most likely scenario trade and if that doesn't work out Well, it's what should have happened didn't Now you make more money going the other way You make back your loss plus plus plus way more right, but right now I'm looking I will really be happy if there is a long setup because of what I just talked about and what do you see here? We're inside this that's not bullish But Here's the point of control what you can see matter So if this comes down a little lower, we're still in that area. I just showed we'd be pretty close to the blue log All I would need to see is about volume set up and then that would be a good percentage risk reward long Right if for some reason it just goes right through there I'll lose on my lawn if I get long and then I'll turn around and look for shorts And the bigger move will be on the short side right so the whole idea of You know markets obviously rotate oscillate all the time, right? When you're going against the bigger picture Your your moves like this down move is probably most likely going to be shorter lived and the bigger moves are going to be up Right, so it doesn't mean you can't take shorter term trades. We are day traders, but just Realize if you take a trade counter trend, it's probably going to be short-lived and that's what that's the whole premise of this If I you know if I were to get even if I were to got it short if there was a setup up here I got short. I'd definitely be looking to get out right now Just because I mean maybe a little over what we just talked about, but I'm not expecting a big move unless What happened what I just said if we end up having a fail breakout of this This man of this balance area, then I expect a big move down and things will change, right? But right now I'm thinking that the selling will be short-lived and the bigger moves will be up If this does this in this then I think the bigger moves going to be down and the up moves will be shorter Right, so you got to have all that in mind when you're putting on your trades for you know getting out taking profits so on and so forth All right, I'm a lot of guests any questions Bruce so I can stop talking Yeah, just a minute here, I think we're pretty well here everyone's pretty quiet Pretty quiet. We see someone typing at the moment. No nothing, right? We've gotten an ATR out of the zone An hourly ATR and I think we've got a five minute ATR even the elevated ATR Let's say you're 59 see I was starting to pull back now because it just incorporated that the number the natural gas Rotary number so it's 59.73. So we've definitely gotten an hour 20% of an hourly and I usually trade again as the five minute from here So that was at 32 last two digits. It's got up to over 92. That's over 60 ticks So this is a full five minute ATR out of this zone So now we've determined what this setup is. First of all, this is canceled. I'm not going short this now Off of this setup because we violated this to the if this thing's truly bearish It should not violate this an ATR to the upside. So now we know this is broken ice Somebody it came in here with huge cell ice and just got to shove down their throat Now what I'm looking for is a retest failure and I will go along and I will be watching for That area that we talked about to potentially take profit profits Right, so look at this. It's the battle of the tails Selling tail let it down move. Here's the number Now a huge buying tail, but we know when this buying tail was what? Broken ice that's more significant than this there was a little dumb and dumber up there But I think this is way more significant. So now if we get a retest failure of that broken ice I'll be watching for a move back into this zone and possibly even higher Maybe even to this zone where this direction And this market is Long-term bullish, obviously the thing has gone vertical for weeks Right, so you have a tail one of the four important areas of charting and you know what's in that tail That is an excellent risk reward trade if it retest the reason I'm waiting for a retest is because we're below the O Right So I would love Be tickled came back to that area. Here's that cell ice. I'll go along and I'll be looking for Huge move up and what do you see here? Try to get inside this profile composite. No dice that ice was all in here That would be a retest of the top of that basically boom. That's what I'm looking for So now we wait So I'm gonna put actually so I don't miss this because it happens to me all the time when I'm on these webinars Let's see. So you go to your cloud notes at edit note Notifications native notifications. That's what it sounds like So pretty there you go So now if this comes down here It will alert me that we're retesting the zone and then I can put my orders and get ready for the fireworks to the upside That's that actually let's look at what that looks like today the real-time hero You can again book map has it or you can get it on his website Waiting for market to open pretty sure the markets already open So this is basically just showing you options hedging or options activity versus where the market is so let's go to SBX So what do you see here? So this is bolstering This isn't crazy divergence, but you can see the options. This is total puts and calls You can break it down to again I do not claim to be a spot gamma options expert at all I use it in the very basic sense and that's all I need it for I don't need to know Every little detail and to confuse myself when I trade right? I know Markets down here. That's the black line and I know the put call ratio is up here. That's a divergence Sometimes you'll see it way up here. Right. That's just a signal. It's not this is not a red light green light I see people in the book map hero or the book map spot gamma I'm not book map of the spot gamma channel and discord all the time like that didn't work There was a there was a divergence to the huge divergence and the market kept going down This is not red light green light, right? But you want to pay attention to this when it is in line with everything else that you're that we're talking about Are you looking at right? So this is just good to know. Okay? This isn't a crazy divergence, but it is a divergence market went down options activity did not follow it down That is another case for Bulls right now. We're just I'm just waiting for a setup in the area right here's what the spider looks like see that looks any different It's not crazy, right, but it's decent. It's okay to QQQ Which is the tracking stuff for the Nasdaq? Nothing crazy, but it's definitely divergence right not much though So it's not you know again I just I keep an eye on this doesn't mean I won't take it long or I wouldn't take a short No, but this is good to know another thing that I watch that's actually not available to public and I'm not sure why I mean I talked to him yesterday. I guess they're working on it and It's hasn't been Don't want to onboard new guys, but this is the edge you can see here So this is just showing you all 500 stocks. So if you remember my room, you can see this in the squat channel That's what as well as this stuff, but you can see up here. We were overbought This is all 500 stocks in the SAP index and it's telling you what percentage are above or below Five-minute market profile or aka TAS boxes or market profiles. So all you need you don't even need to know You just need to know so for instance, this is Time was this this is right at the open. So we were at We got up to 74 percent meaning 74 percent of the stocks of all 500 stocks were above their five-minute boxes And when you get that Markets, you know, if you get 75 80 90 the markets will revert and you don't want to be initiating longs up there So that was right at the open and you can see what happened right at the open you rally The thing was overbought. Here's your pullback. So when you can match that up to sits as real-time setups It's absolutely golden. You can ask my room there on this thing all the time talking about it because you do not if anything You know again if this markets up here or this lines up here doesn't mean we can't go higher in the market We can go up to 100% right all 500 could be over their five-minute boxes, but If anything you don't want to be initiating longs if you see that right? That's number one and if you did initiate along up there you took it right on the chin And so that's why we watch that so right now you can see it's really nothing This just shows you it's choppiness inside 50% of the 500 stocks are inside their boxes when I say boxes It's just this so imagine this as one of the one of the This hasn't run. Oh, yeah Imagine this is one of the stocks that comprise the index that that's just that's tracking. So here's your box Draws them. This is the box. There's a box here and then There's one here. All right, so this is starting to break out of it So that's all it's all it's looking at and it's a great judge of you know for overbought over so temporarily short-term So the volume picked up a little bit on that down move and it's still pretty pathetic. I mean, that's pretty sad You can't if it turns yellow that means it was more than two times That's when you want to pay attention, right? Or I mean if it's over a hundred. It's good This volume is not bad here So you're probably gonna get some balance here and you're gonna get a decent move out here because there's enough people Participating when you start to see this stuff you don't want to be participating because you get this stuff And that's when the Algos take all your money. So you want to wait you can use this as one of your rules I don't trade unless I see at least normal volume for this time period for the last 30 days Which is what this is what this is showing and if you for the last few bars if you don't see that if you see a bunch of red You do not want to be trading unless you'd like to be algoed You could be a range trader in that type of environment But again, I hate training that way because every time I trade a range. That's when it breaks out of a range So I don't trade that way All right, so again, nothing. This was close. Let's see here. This is like six thousand a day in this market Absolutely nothing. Let's draw this again threshold seven hundred. I rarely go below that Right, but you can see here's the sweaters and thousand swipe as well I think we actually had a little more over here. I have to adjust this 400 yeah, so Listen cork so between between these two icebergs you can make it one big zone This is what I was talking about earlier We were actually looking at natural gas and I was going to combine the two but they're too far away This is not too far away. You can this is five points. So you can combine these two And here's two icebergs easy cool thousand It's six six twelve six twenty and this was over four hundred. Oh, there's your retest There's your retest here we go All right, so let's hurry up and check her and when I say hurry up I mean hurry up because this thing can rip back on our points in the blink of an eye 55.62 is our ATR. I think we should probably use that just because of the Volatility even though the number even without the number of this thing's nuts a little bit so 90% of a ATR 55 is 50 ticks So 50 ticks out of here, I will take this long There's your retest almost to the exact. Hey look at that exact tick Shocking Same patterns over and over guys does not matter what market so 50 ticks above here We'll just put that at 30 put it at 32 was the top of that zone So 82 a little long You said I mean this thing just spikes like you catch a runner in this thing that you're looking at You're huge straight. So I Get filled on there then my stops gotta go 50 ticks below this zone. So I'm risking like 150 ticks That's about my risk, you know, if you want to really look at it I think it yeah, we have natural gas in here. So if I'm risking 150 ticks again This is part of my room you get access to this I can put on a two lot based on my Account value you only want to be risking a 1% I have for 2% of your your account value per trade again, if you're trading micros just Divide this by it's one-tenth of the value. So if you have a $12,000 account 13,000 our account You'd be risking $250 on the trade instead of 2500. So that's how we work that so that is the correct size on this trade Let me get my other accounts going here That price 80 and I say was 83 Any question Bruce YouTube is good Razor knows that those breath meters are from I forget the name of what is it Scott? It's Taz but they it's not available right now to the public if you go on the site like if you Google The it's called the edge Google the edge as you'll go on there, and it's not available. They're redoing it And they don't want to bring on new people I don't know the exact reason but the point is it's not available right now I probably shouldn't be showing stuff that's not available. You can see that my room But other when it comes when it's available again, I just talked to him yesterday And it's supposed to be coming out of here soon So I'll let you guys know but it's a if anything it keeps you out of trouble when you're buying and then Overbought buying or selling when it's overbought or oversold That'll make people even more Exactly So again another perk of my room Yeah, if you guys have any any questions if or Scott or like you you know information on his Website or his educational course. It's there in the chat So now, you know if this say this just comes and blows right back down through their zone Well, I'm not I'm not gonna go short this particular setup Right, this is the way I trade it you could if you want your money you do everyone This is just for me trading thousands of these knowing what what should happen. What shouldn't have why because it's got an a full ATR above here I'm not this turns around and blows right through this the cell ice which is that I'm not going short on that I wait for a new setup just because it's already shown that it can get an ATR That's not bearish short-term bearish. So that's why I just will take a long off of this will not take a short So that's why I wait for retest failure, right? I don't just we've seen this actually a few times in the room lately where you get the ATR And then it comes back his own it goes right through why I never put the trade on because I need to see it fail back out Of there, right if it doesn't fail back out of there I'm not but you could again like I said you can come up once you get good at understanding this and trading them You can say there's enough that there's a huge buying tail here As soon as this comes back in the zone. I'm buying it. I don't need to wait for 50 ticks out of here I'm buying it right here. Go ahead. You can do whatever you want could do that. Absolutely. It's probably 80% chance. It does that, right? but I've just found the safest way to trade these is to wait for to show it can move back out of here versus getting in Right here and watching it rip right through it, right? But you can get along right here and not have to risk another 50 ticks to get in and do whatever you want It's your money Right, so again, it's just because of my experience of using those. That's how I trade them Like I say every single week There's art and science to this, right? This is the science. There's no disputing There was over 500. I see her the art is how you trade the zone Recommend until you know what you're doing you trade it like I do and then once you get better at it You can put any spin you want on it and trade it how you want to trade it But the there's no disputing there was 500 cell ice there's how you want to interpret that and trade it That's up to you. All right still on this zone here Let's see if we got any broken-up volume in NASDAQ today, and I've had no lords in here either This will quickly getting their fills as usual Say on the show Nothing. All right, so let's you know, I will take I will take this trade though because it has a thousand And remember we said this is an area where you want to be long. So I would not be surprised Not surprised. I'm expecting this to hold and move higher Based on everything we've talked about keeps touching it and setting it up. So that Now we're just waiting to get filled actually I want to know when I get filled now at least let's go here Added a note notifications and notifications. Okay, so if I get filled and I'll know I gotta use that more I don't know. I did not use that feature enough All right. Yes So My rules are if we're below the yellow log, so we have that iceberg and I know we're in an important area where that should hold And move higher right, but I'm still not going to go long aggressively because we're below the yellow log That's just the way I played you can once again. You can say that's enough. We'll be moving out of this I know this is bullish. I know we're returning to that balance area that we talked about you can go along the minute It pricks out of here All right over 90% out of here I'm gonna wait for full ATR retest failure to go long on this setup here when that's what I'm drawing on there is the setup So on the short side actually I could I'm technically supposed to go short aggressively right because we're below the yellow log But is this in a good area to take a short? right here no Right because you're all you're doing is coming back to that So I this is what I'm talking about you don't just you should just be blindly taking every setup Like there's gonna be instances where the context is king where you're like, you know what? This is not I know the volume saying short and it probably shouldn't but I don't want to go short until it violates This high-volume note then I want to go short right because this has a very good chance of doing this So I It's hard for me to do but I'm going to pass on a short on that And I'm just gonna look for them on here again if we get a little lower But you know on the flip side and argument could be well guess what if this is bullish Then why are you seeing bear a bear setup like if this doesn't get an ATR below or 90% Why is that showing a bear setup like that shouldn't happen if this is both and you can argue that too But I just know my odds of a short are Not good of Working until we can get through there. That's the better place a better odds trade to take shorts below here You could take a short though on this setup if you want. I'm gonna pass Because I'm just so sick of Getting short and then having that this is tick strike Again, we talk about this every week This is just telling you the size of the orders and the speed of the orders coming coming in It's like an audible alert But it's good to see the stocks are doing but every time I get short And it's just like a it's I call it waterboarding because there's nothing worse than watching your position going against you Visually and then hearing it to it literally I've never been waterboarded, but I can imagine that's what it feels like So point is I know if I get short I'm gonna have this thing going down and I don't really want to do that right now So I won't wait. Hopefully just take the long here again if we get below this high volume node It's a 40 44 60 ish Then I will be gladly taking shorts aggressively and that's part of being patient right like Yeah, you can say okay. I was patient all day. I finally got my setup. There's finally a setup in there I'm taking it. Okay. I can understand that but it's still not the best place to go short All right, so let's just see if we can get that so this thing just covered this entire zone held so Any of these so whoever this was is the one that felt the heat So there's a good chance when it comes back They start peeling out and that's what causes the the next move the next wave up Again if this goes right through there, then that's going to be telling you something and multiple One that zone didn't hold to we get below this buying tail You're coming down here. That's my guess My opinion obviously, but that's where I think we're coming may stop right here This was a smaller. This is an important area too. You can see how it respected it, right? So you had little balance here Here's your directional conviction came back. It's the right word out So if you say something new comes in and we break this tail You want to watch this area here, which is not too far away But if you break down through here, then you're coming to this zone here and what's this zone? This zone is basically Where this gapped up that's directional conviction that I let it end up leading in this whole move, right? And it's the top of us this balance here Which was balanced on top of balance. So this sounds really important if you do we do get short If I do get short, I will really be watching this 640 area to be getting out of all if not our most if not all All right, so just wait there this thing is really tempted me to go short trying not to do it But like I said flip side you should not be seeing bear setups if this is truly bullish, right? That's definitely an ATR below that zone So the ATR right now is 6.26 So I what I will try for this because we're on the webinar I usually would be you know if the bigger picture stuff wasn't against me I would have been short 90% of an ATR right which I'd be in right now what I will do If this does this this free test then it fails Then I'll try a short but I'm not I'm not excited about it If it works, it's gonna be huge because we're gonna violate that high volume No, most likely in this thing that a crash and have I even know the bottom is basically 4460 It's still not the best place to go short but since we're on the webinar and there's enough That's the conservative entry anyway. I will try that short The long idea is done with because why we got an ATR below this zone And that that disqualifies it for a long for me So let's see if we get retest failure The edge is fine. It's not over bought or oversold. So that's not gonna come into play See we're down here see 47% are inside their boxes. So that's just choppiness Hey, there's some Russian news. I don't know if you guys heard that lately Every every five minutes for 60 days Volume's not terrible. It's not great, but at least it's normal So that could remember that the volume was okay in here So like I said that wouldn't probably do a bigger move out of here So we'll see what happens. It wasn't crazy volume So if we get retest failure, I will short Again, if I was normal circumstances without that balance area right there, I would have plugged in in my handy-dandy spreadsheet You go in here and you plug in the ATR I know there's a way to do it. Someone put it in that room a while ago You can do it. I think you're swimming just haven't done it yet. That was about two months ago It's the ATR. So 5.63 is my 90% so I would have been that gas iceberg cell ng 154 contracts it's getting interesting in that gas Um because it's violating that zone so 5.63 so 5.75 points. I would have been short normally out of this zone So that means I would have been short Let's just say 4480. So that's a 74 quarter. I would have been short. So I would have been short right here In normal circumstances I'd be already bitching part of my language that I got filled basically close to the tick and now it's already back So if it does this and this and then I'm going to try a short not excited about it, but Again, it will be a failure of the zone too. Then that's not bullish either if this thing's bullish. Why are you seeing bear setups? If this thing's bullish, it should do this and then come right back through here If it fails again, then it's telling me some here comes the waterboarding too. Glad I'm not short Wow, I'd really be bitching right now. So you guys are so lucky I didn't put that short on All right, so this is now see if we got an ATR below here Remember we were looking at this Dark zone. Let's I'm just gonna get rid of this This was way long ago And we've had something since then What do you have here? That's 170. So that's a brand new setup and it's we basically violated that other zone So I'm going to take this aggressively the short side because we're below the yellow lot, right? Let's make this a different color so I don't confuse myself Wait, in the official sense, Russia is creeping the bell in Commission 3, what objective is this living? Well, now we should begin the Fed Speaker, right? I mean, yeah I don't know, he's already speaking anything. There's like five Fed Speakers a day late I just don't know what's going on. It's just insane. Like yesterday was the beige book Didn't even matter. Like there was like four speakers before that It's just straight. I've never seen that before every day Did they just come out like didn't just talk every single day and the market reacts every single day? All right, so let's check our ATR again in here It's down to 53.7 790 percent of that is 48.3. So 49 ticks below here. I will go short Problem is we're getting closer to that blue lug. So I got to be careful when I'm not shorting into the blue lug So what did I say 49 so 24 25? That's what I'll be short this Last two digits. I'm talking remember. I'm shorting aggressively because we're below the yellow See this is what I'm getting afraid of though because we're getting closer and closer To this To this blue lug. I don't want I mean, we're far enough away from it. I'll take that trade but If we were like right here, I don't I'm not taking shorts into that because I know how powerful these things are But we're back in here, right? So it looked like it was going to do that, but that setup didn't hold So something's up We break that tail say good night to natural gas at least short term Oh, I forgot about this So here's a retest of this zone too. So this was the 200 cell eyes. I forgot all about this All right, so this is retest failure. Obviously we're in an ATR below here That obviously let's confirm that but it looks like Here comes the waterboarding by the way. So glad I'm not sure yet 37.5. So 38 ticks Definitely got 38 ticks below here 40 ticks puts me at 76 real close. Look at that look. Oh, that's just these are just this is when you know It's elbow written, right? These are these are the ATR algos that snap it right back But that was an ATR. So now what I'll do Just can't wait to short this. It's gonna be so fun 37.6 I think it's on it's 30 people named for so 34 points below here and our debts not points Net gas iceberg cell ng 153 contracts 86 by by the way scott. We Will have an interesting product coming out soon. I just want to just let people know about it. I'll I'll demo it And have more information about it soon But being able to spot that I'll go that market making I'll go Is going to be we have some kind of new tools for that For mbo for futures and for uh coinbase pro in um, uh, crypto Awesome. Yeah. Yeah, it is pretty cool. Take a quick look Everything book map is pretty cool burst So actually I should have been in this one aggressive too, right because we're below the yellow so And that's fine. I just avoided that you guys didn't have to hear me bitch on this up move Which is good for you and now if we retest fail, I'll be short this too. So it's gonna be really fun I'm gonna be short ball Both the markets that I don't want to be short because of where we're at, right And right at 11 30 east coast right right of my worth time period. Hey, should we show that? Let's show that real quick just to get me really going before before the torture treatment starts And quick little ruin your golf uh afternoon Right, let's take a look at how I do it at this time of day Oh, look at that. Oh, look, I've lost 71 Oh, only a hundred thousand at this time of day. Is that good? That's why you don't trade this time of day Scott that's why I told myself for 20 plus years. I mean, I'm still profitable, but I But be four times as profitable if I didn't trade between 10 and 12 This is my overall I've taken a beating in the last couple days. The trade's been really bad Weird I should say so I've had a little draw down here But it's still profitable, but add another hundred thousand to that if I can just get up and leave I do live in Arizona. So I could just go to the golf range and and I'm pretty sure I could have found a hundred thousand dollars Or not throwing away a hundred thousand dollars and had fun on the golf range That so this is trader's thinking I should all have something like this Discounts on my website along with everything else Um, you want to keep track to know that stuff, right? So I know that and I know my worst worst day of the week Is Monday and it just keeps happening. There's another 30 grand down the drain If I just didn't trade on Monday, that's harder to do obviously with my room But the hourly is not hard to do. I'm not giving I'm not I'm not on my webinars at that time So I have no excuse Except that I'm a moron sometimes. All right, so I'm gonna use A new indicator I just created Scott it's uh in in the Discord chat should scott trade at this time thumbs up icon if yes thumbs down icon if No So we're gonna we're gonna we're gonna hold you to it here Yeah, trust me. I hold myself to it every day and I still do So I've been better lately at least with my auditor program. I don't I try my best Not I rarely trade but what you could do there are exceptions You say I don't trade between 10 and 12 central unless I start seeing Really high relative volume then you can trade it like you start seeing this thing pop up and you see yellow 200% yeah, then you can trade it other than that you're asking for algo city And that's why I get beat up That's why every trader basically gets beat up at that time of day because it's algos running you rag All right, so we still haven't done anything here as a net gas I'm telling you then this area breaks you're gonna get the big move. It's just a lot of breath holding here um, we did not get uh We did get a new setup. So I'm gonna actually delete this long Whoops So now what I need to see remember to wait for retest failure. I just got I'll come back to that I forgot to put my order in here Quality good trading. I thought I put my order in here. So I just cost myself three points. All right, so short that That's just terrible trading 6.43 it's the atr I'm not being waterboard at least got that going for me 6.43 5.78 so six points above the zone is where I will step out of this trade Again, I just cost myself three points because I wasn't watching it I didn't put my order and I don't know why I thought I did so 91 50 is where I'll step out of the street We probably have too many contracts on as well as like usual Hold on there you go That's 20 points of risk. It's like I already know that I I shouldn't have three on I think Oh, we got all we get fed talk. That's what it is my bad. How silly me I could put three on 20 points It's just it's just I just I've never seen this in my 20 years. There's a fed speaker every hour every day Markets are not liking it. So this is getting interesting though, right? Like I still don't think these shorts are gonna work based on this structure Stuff But if they do work, they're gonna be monstrous to the downside Not that I don't think they're gonna work, but the odds are against me of these working based on What we've talked about this entire webinar, right? And Q is real close to look at this This is the most recent. That's what we gapped out of here's your IV And now gets through there coming at least down to here and then to zero That'll all happen today. So prepare for zero there I'm joking, by the way You know Russell could pause here But if this gets motor and you're looking at least this or this directional conviction started, this could be a really nice trait too again, the odds are It's gonna bounce, but we'll see That's hard, but it has a better propensity a more likely Propensity to bounce until we can violate the structure Right. All we are is the bottom of the zone that I drew based on all this other stuff Keep talking. Let's go start hitting these guys. So if we get through this And then you're gonna get you're coming down here Yeah, this could be a good one Scott Yeah, until you said that thanks for jinxing it Bruce. Appreciate it. I just can be a bad one Scott But Scott you've got no chance then then we'll go I don't think you've shown any propensity to mush trades. So So again, I entered I should have been in 90% of an ATR. Would I say that was 74 quarter? I should have been in so I missed it by three points What's three points when you're risking 20? All right, so we got that on Got this on I just got to put my stuff in this as well short rusell Hey, if that's talking Okay, she guys didn't know fed the fed guys can put on trades too. So if that's that if you want something even more ridiculous I just I to this day Like I can see I can't see lawmakers either like Pelosi and all the the stock trading stuff But how can fed members who dictate policy put trades on? How is that possible? Could anyone tell me please? See now i'm starting now. I'm starting to lose a little bit Alec Alec is Alec is already all over it. He says uh, oh there he goes again I just it's just I can't my mind. I can't write my mind on that. How is how is that legal? Hey, let's go ahead and uh, let's short the market and let's come out and say something hawkish. Yeah, let's do that Let's make millions Finally 30 34 ticks above here is 90% of an eight current atr puts me at 65 to stop out of this trade Ah, here we go So i'm trading at the worst time of day while a fed guy is talking what what could and and i'm trading against the bigger picture Or intermediate term short-term friend, what could go wrong? Popping these guys All right, there's still a divergence, but this is turning over a little bit. That's cute cute. Let's check out the spy It's bx I don't like that's going up Again, this is not regrine. I like green light this thing could still sell off a little bit Spy looks a lot worse as far as the there's no divergence. All right, so let's look at some areas where we may be getting out here if this does work out So we got There are really nothing lug-wise tilt down here and that's the actual goal and that will be I may get out of one here if we struggle at the top of this so that price is Because that's very important area top of mark Of course, I don't want to do that 2024 Let's just put that in now because i'm sure i'll be on another screen and miss it Actually, i'm gonna get out of two there because i i'm short two markets at the worst time of day It's not a good time So we'll get out right there two of them See if we can get a move down there and then Let's check out. Yes, where we will possibly want to get out Yes, it's been giving me the finger lately. It gave me the finger yesterday bad All right, see we're right in that impression. I'm going to take in this trade So you got baby lug and blue lug So again, I don't like to take shorts when we're right in front of the blue lug because I know especially in this context Hopefully you can get a swipe down here If we get the blue lug i'll get out of all of them. I'm not i'll wait for new lugs on in a new setup I don't mess around with the lugs so i mean still another nine points away I like that they're by in the mix. That's good You want to see obviously the stocks that run the indices that the futures are derived from You want to see those getting hit. These are the most highly weighted stocks in the indices Right, so you obviously want to see those again, but then when they're buying the vixx, which is obviously correlated opposite correlated That's a good sign too. So everything looks perfect for this trade. I don't know what could possibly go wrong here So what do we say that lugga is put that into We're already close to baby lug that light blue lug or whatever color that is that's at 6550 I'm gonna get out of one there 6575 and then the other one's at basically 62. So I'll just get out of all of them. I again, I don't need to Again, I can get back in too. It does not like the trade is completely over. So 62 We're close to baby lug right here. What is it 6575? Why does this keep reverting back to zero Bruce? Do you know that that's never done? Yeah, yeah, uh The size yeah, yeah, yeah, exactly Did you just add that I've never seen that before we've had it for a long time Of course miss the biotech shocking Come on. You can do it Keep talking daily. It's working out well Mr. Biotech not surprising again, I Probably you know, especially because I missed my entry at 74. I chased this down three points This is not a good place to short. You're at close to blue lug We already talked about the bigger picture close to blue lug. We're at two standard deviation from vwap This is an area where you can get that I'm just hoping I at least get out of one of these things before that happens before this just turns around and starts to Waterboard me Let's go Talkin daily what's happening here in natural gas shit either. So But I will go along again if this gets a tear retest failure of this last one Looks like we got a tear again 52 The top of the zone was 90 679. I could just use in the last two digits 90 got up to So we didn't get an ATR above there yet Hey, I got filled. What do you know? What do you know? Give me the blue lug So again, and the other reason I wouldn't have put this trade on right? What do we say I'm risking 20 points? So I'm gonna try to make basically 12 point. I'm risking 20 to make all right. I'm gonna get out of these here on this little pink I'll leave one in Did it right at the blue lug watch this thing bounce All right guys, I forgot I lost track of time. I'm almost two hours in this webinar. I gotta bring My daughter to school my wife's out of town. Um, so Of course, I'm starting to pick up now, but I'm just gonna get out of this right now because I gotta go too So it was a little it was a small winner again I missed my entry by three points to see if I got filled on my Russell How have we been on this long when nothing's been going on? All right, I got filled out of these two are filled on two of those got this All right, so there you go. Um, we've talked about this this thing's not bullish bearish yet Like bigger picture bearish. This is it like This market needs to hold. Yes needs to hold right here This gets below here. You're gonna get you should get a move back down in here would be my guess You want to watch this for tail tail tail little tails, but it held and that's left this and you can see this is where this Pause the other day. So I'd say 44 45 ish But I still wouldn't be getting along there because it violated. This is a fail. This is a fail breakout, right? If it gets a little lower, I would be very careful of buying anywhere in here down here. Yeah, you're I'm out of that short. I still have one on on the Russell, but this thing could get going now So I'll just wait for new luck, right? It's this isn't over like it for me I'm gonna just wait for I just don't mess with these looks especially look look at the confluence here Keep talking daily So you have blue lug And we're real close to the bottom of this market profile composite So could definitely get a bounce there. If not, we break down. We'll build new lugs I'll look for shorts and watch it go to zero by the end of the day All right guys. Sorry. I got to run. I forgot. I'll bob my I didn't bring my daughter to school. Yeah, thanks Bruce. No, no, no problem. Thank you very much, Scott. This is really great. I'm You know great to see that some of these trades are working out really well for you I just want to mention everybody that kind of aid into tom b's time. He starts right around now but just you'll see him in the Traders lab room if you want to hop on over there and continue the discussion Okay. Yeah Yeah, we'll we'll see you next next thursday scott and There you go. There's your move into that blue lug See, I told you you don't mush you don't mush the All right guys, I hope you learned something today any questions you can email me my room I do this every day and you can see all this other stuff that I've been talking about. I'll see you guys next thursday. Thanks. Scott