 Okay, welcome to the Bookmap Platform Details webinar. This is Bruce at Bookmap. A risk disclaimer, trading equities in futures involves substantial risk of loss. It's not suitable for all investors. Past performance is not indicative of future results. For more information, go to bookmap.com. You can get a free trial there for 14 days and that will allow you access to the advanced order flow analysis webinars and other resources as well. We'll cover that in about half an hour, the advanced order flow, and then reach out to us at support at Bookmap with any comments, questions, or issues, et cetera. Let me quickly show you where you can find Bookmap if you wanna give it a try at bookmap.com. Here is the basic and the advanced versions. They're the 14 day trial for each. The difference between the two here, the ability to trade from the chart and these proprietary indicators that we have for order flow. Okay, you can follow us here on Twitter and you can also subscribe to our YouTube page, all sorts of videos here, features and components, order flow video snippets that go through phenomena that we usually cover in detail, a lot of detail during the advanced analysis. So this is how to use Bookmap, what Bookmap is showing and uncovering for you. We just finished up the ProTrader webinar series, you can watch these here from recordings from last week. And if you want to take a look at some of the selected webinars here from the advanced order flow analysis, you can watch them here. There's also the platform details here that you are attending right now. Okay, so I just wanted to go through that because, quickly because here we have the fundamental release in crude oil, okay? We have the oil inventories, all right? And why I want to cover this, okay? Is because look how the liquidity, right? At this area here, okay, before 1030, okay, the release is at 1030. And look how the, a lot of the liquidity dries up here, okay, right before. So, you know, three minutes or four minutes beforehand, you can see that a lot of traders start to pull their liquidity. They don't want to take risk in this market because they don't know what the news is. And where does the market go? Well, when there's not liquidity, it's a lot more volatile. And you can see this volatility here right in front of us. Okay, we see these wippy price action movements here. And where is it going? Well, it's pretty obvious. It's going to where there is liquidity. Right here at 5185, you can see it came down and tested this area here of liquidity. There's more liquidity down here at 5180, as we can see here. Now look at these guys come in here at now 52. Okay, the figure at 52. All right, now they're starting to pull as well. Okay, the initial move up here, well, this was before the release, but then the release, there's liquidity up here. These guys pulled. It's kind of curious to see that it didn't come up there and it really just failed and then went to the downside. So I imagine the news here is bearish. Let's see what the news actually is. I don't have that information right in front of me. Let's see here, what were the inventories? Okay, so it's, yeah, it is bearish. We have a negative 1.8 million barrels where expected or forecasted was 2.9, right? So that's probably why we saw the double top here and then the sell off. But we're right back up there now as well and just testing above the figure here at 52. So it's still really just bashing around here and trying to find some direction at the moment. If all of this is confusing, well, that's no problem. We're gonna go through in detail here what book map is showing you and then how to read it. And then we can come back and revisit this economic release and see what kind of flushed out after the, we start to see it settle down here, okay? And what kind of direction the market might take. Okay, so let's start here with just the basics. And we do this every day, but we start with a candlestick chart because most traders are very familiar with this and we wanna take off all the other layers here of data, okay, and let's zoom out, okay? So we are looking at a, are we looking at a five minute chart? Two, three, four, let's see, I believe this is five minute chart, hold on just a minute, yeah, five. Okay, all right, here's our five minute candlestick chart. Now most of us are very familiar looking at a candlestick chart, okay? So we understand this open, high, low, close of a five minute period or whatever period you're looking at. And we can start to read some of the buying pressure and selling pressure here in the market. For example, we can see some sideways consolidation here before the figure at 52. And then we see the breakout here at the crude open just after nine o'clock, okay? And pretty strong move to the upside and we get a retest to where we broke from here. Now we're gonna cover all of this in the order flow and the liquidity. And then we see we accepted above this area here. So a pretty important area that price in the auction is accepting above here. But we want a lot more transparency into all of this data here. And we're not getting it with this candlestick chart. It's a problem, it's lacking transparency. We don't have any understanding of the volume here. We have a volume sub chart, but we don't know where the traders, what kind of traders they are, what type, aggressive buying or selling. We don't know where in that five minute period. That's very significant. And then we also want to understand how much exactly where. And then we also want to look at some of the micro structures in within this five minute period. All of that is lacking here. So first level of data we're gonna put on here is historical best bid and offer, okay? And this allows us to see some of the micro structures. So let me click on the hand tool or the move tool. We're gonna zoom into this area here. So here's what really occurred within these five minute periods. We can see that the consolidation here back and forth, initial move to the downside, probably a little bit of a liquidity grab down in this area here. And then we can see that the very quickly price moved to the upside, okay? And real nice breakout here to the upside. We see some micro structural areas start to emerge here, but really up in here, this pretty good range, okay? And you can see that price is accepting above in this area here. That is lacking in the candlestick chart. We really can't see that in the candlestick chart. We don't understand the commitment of the traders here with their aggressive volume either, okay? So that's the next level that we're gonna add to the chart here is the aggressive volume, okay? So let's zoom into this little area here where we saw that micro structural pause, okay? And we can see the initiated buying that took place here. We see a little bit of a pause as we went sideways and then initiated buyers came in, stepped it up and we moved up out of that area, okay? So we'll just focus on this little area right here. What we're looking at here on historical best bid and offer is the aggressor, okay? If it's a green dot, it is an aggressive market buy order. They hit the market buy button. They crossed the spread, they took liquidity off of the best offer and a transaction occurred, okay? They met with the limit orders on the other side and then we can use this rollover tool to see exactly what occurred here, okay? So we have the date, the exact time down to millisecond in this case and then we have the liquidity here on the ask, it's 188 contracts at 5209 and then the volume, okay? This was a four volume of one, okay? We can move over here and we can see that there's more volume of one. I can hover over this dot here and I can see that it's bigger and it's a red dot and it's taking liquidity from the best offer, our best bid, I'm sorry. So this is an aggressive market sell and it's for quite a bit more. It's for a volume of 43, okay? So that's what we're displaying here with the aggressor and where it takes place. Now we can continue to zoom into this area here and I'm just gonna do that and we're gonna start to break apart all of this trading activity and we can see exactly what occurred here, okay? So now we're down at microsecond level. We can continue to zoom into nanosecond level as well, okay? And see every single trade, okay? Bookmap, it's complex event processor can handle all of these data points, okay? So we can really understand exactly what occurred in these markets. Now most of us, we're not trading at these levels, these very low frequency levels. So what we've done in the user interface here is I zoom back out, we consolidate just visually and aggregate this just visually into a bigger dot. So we have the overall understanding of what took place here very, very quickly. Now as I continue to zoom out, note how I compress the timeline here and then we start to see so many events that took place that we give you the volume in the overall delta here. So for example, if I hover over this big dot here, you can see that is for a volume of 503 contracts and the majority of it is aggressive buying, okay? Because the pie display is showing us that, okay? It's more than 50%, all right? So we have a good understanding of exactly what took place, how much and where. And if you want more details, we'll just zoom in, okay? And you'll start to split apart all of that trading activity you can understand exactly what occurred, okay? All right, so that is what is lacking in that candlestick chart and that is where Bookmap is giving you insight to a lot of that activity that can really lead to much better trading decisions. And why do I say that? Well, because here, for example, initiated buying comes into the market here. This is where it started right here, okay? At this level of 5204, okay? We get a pullback here and we get another pullback, one tick below actually at 5203 and the buyers step in again. This is giving us insight. Buyers are supporting price up above this level, okay? We understand where the buyers are, okay? That is completely lacking in this candlestick chart, okay? And we can see we bounced along sideways here and the buyers still stepped in, okay? So this is that little microstructural area and understanding of the market mechanics that took place there gives us this insight to this area, okay? There's half of the picture here though, understanding in just the traded volume in Bookmap is basically just half the picture because we can understand where traders are lined up to or where they're committed with their trading, okay? With the dots, we know that. But we don't understand what about the auction? Where are they lined up to bid and offer? And that is an important part of order flow, okay? So, and the order book. So that's where we'll go to the order book and most of us will consume this kind of data by looking at the dome, okay? This is the current market here now in Crude, just bashing around back and forth. And here's our dome, the COB column, current order book. Okay, so that's the dome in Bookmap. And you can see here the depth of market on the offer here and on the bid here. These are traders lined up to trade at these levels. They're providing liquidity. They want to deal at these price levels and they're providing liquidity with limit orders, okay? This is where they want to be a buyer. So we can see very quickly the current order book and we understand, okay, at 52 I see there's 136 contracts. Down at 5180, there's 193 contracts. This is good. I like the dome. I think for most of us, it gives us a really good picture of the current market. The problem with the dome is that these numbers change all the time, okay? Liquidity is added and pulled. And we're getting insight here just before 5181. And we're starting to see more liquidity come in to the market into this area here. So buyers are starting to get a little more aggressive, okay? But what if they pull? How long were they there? You have to memorize all this. What was the behavior like in this area? That is difficult because this data is fleeting. Once it refreshes, you'd have to recall what that data looked like, okay? And that's where book map gives you the historical limit order book and it'll solve that issue for you. So let's turn on the limit order book historical view with the heat map, okay? So what the heat map is showing you, let me zoom in here, is we take the data here in the dome and then we'll paint it in the heat map, okay? So let's make this area a little bit brighter for the moment just so we have a better example here. So areas of high liquidity are painted bright white. If it's a lighter or a little darker shade, there's less liquidity, okay? So, and you'll see this in this, this is the current market window, is this is your visual dome here. And we have our best bid and offer here with the dashed lines. This number is the last traded volume. And you'll see the heat map is changing all the time, okay? It's reflected by the numeric values that are changing here in the dome, okay? So we gain insight to where the majority of these traders are lined up to provide liquidity. Where this gets really interesting is we take this data and then we transpose it onto the chart historically, okay? So now we can start to understand the intent of these traders at these levels. We can see where they're providing liquidity, how long, what the areas around it look like, where traders starting to front run that high liquidity, do they really wanna get into the market, or did they pull as price came down toward them? Like for example, look at this little move to the downside here and these guys pulled their liquidity. So did they wanna trade here at 51.90? No, they did not, okay? If they wanted to trade, they're gonna stay in that limit order book. So these 150 contracts here right now, let's see if we get a retest right now. And we'll see if they're, I'm assuming that they're probably gonna pull because they pulled once before, right? But okay, we just came down and we see a little bit of that activity here. Okay, let me bring up the cutoff here. Okay, you can see they started to pull some, but actually it's looking a little more bullish now. They're starting to add in even a little bit higher, okay? It's a little different than it was over here. So now I have insight to that intent of these traders here. Now they're actually looking like they wanna trade, okay? Look at these guys up here at 52, 350 contracts, okay, at the figure, okay? Looks like they want to absorb as much as they can, all right? And they're staying in the book. So far, we're one tick away or a couple ticks now, but they're staying in the book. This is giving us insight as well. Now it doesn't mean that just because we see all of this liquidity, doesn't mean that it's gonna stop the market and we're gonna reverse down. It just means we've identified where the sellers are, the majority of them. The aggressive buyers can take them on and they can trade through these guys, okay? And we're gonna witness some of this right now. Here, their intent to trade is obvious. It's confirmed. We see they're trading into 52 and they're staying here in the book, okay? All right, so their intent to trade. This is not fake liquidity. We've just made that distinction, all right? So for those of you who always hear about the limit order book, you can never tell if it's fake, if it's real. Well, here's an example. This is real, all right? At this time, it was real, okay? If we come back up and retest in these guys' poll, well, maybe it's not, okay? But at this time, what we do know is this is real liquidity, all right? And we also have an add-on here called the large lot tracker, which is showing me. It's actually, add-ons are showing a few different things here. We have the iceberg that went off up in this area here and we also have large trader. This little white line here is showing me that the majority of this, about probably around 300 contracts here is one individual actor, okay? We have an algo that can determine that by the way that these contracts hit the book, okay? So let's just turn on the indicators for just a second here because here's our 178 contracts here that was a iceberg order. And then we see nothing here actually in terms of icebergs, okay? So these guys got their fill and they're content. All right, so that's the historical limit order book and how to start to read it now, okay? And we can gain a lot of insight by understanding these traders, just like we're doing here at 52, okay? We understand that these guys want to trade, okay? And we also know that the news is bearish, okay? So maybe they're just trying to get on as much as they can here at the figure and it doesn't mean that it can't trade through but we can start to gauge their intent and that is the insight that we're looking for, all right? Okay, so let me take off the candlesticks for a moment and I want to zoom out here and I want to take a look at the bigger picture after this fundamental release, okay? What has kind of shaken out of this inventory release here? Well, actually pretty interesting stuff. In fact, let me turn the candlestick back on for a moment because this range here and this breakout from here, well, we can see, like, you know, pretty wicked action because coming down to the low here, hitting any of the stops, looking, the markets looking for liquidity, it's gonna find the, any of those aggressive buyers, you know, they're gonna be probably stopped out in this area, we go to the back to the other side and bash the other side of the range up here, the recent high at 930 and then it's right back down into the range, okay? So this information here that we looked at earlier, you can see how this volatility here basically knocked a lot of those guys out. Anyone who put their stops in these areas here, okay? Searching for liquidity and looking for those stops as well, okay? All right, so let's turn that off now and let's get an understanding of the shake out here, okay? So now it looks to me like we're seeing some decisiveness, those guys at 52, they stayed in the book and we can see now the market is taking a direction here, okay? All right, well, let's see now, this is a phenomena that we cover in the advanced analysis all the time. Look at the, look at how they're hitting the bid really hard here, okay? The aggressor has come in, the sellers have control here, there's no question about it, okay? Looking for pullbacks now, probably the first pullback, I'm gonna look at this 5180 here and I wanna see if the sellers get aggressive with their limit orders. The other than that, I'm looking up here where we broke from, okay? And if they're gonna provide liquidity again, the sellers and they are, they've already jumped into the book here and you can see 189 contracts up here at 5190, okay? So they're supporting this move and this breakdown to the downside, okay? We don't get our pullback yet. In fact, they just continue to hammer the bid here. Let's see levels to look at. All the way down here, 5160, 5155. Here's our half figure at 5150, so it looks like they're trying to absorb before that and let's just watch this play out here. It looks pretty good to, I don't see aggressive. Some buying starting to come in now, okay? So maybe we'll get our pullback right now, okay? Yeah, here they come, okay? Broke a little structure here and maybe we'll get a pullback up into this area here, our 5180 area that we're looking for initially here, okay? 5190, those guys are still up here and we'll see if we get our pullback or not. Okay, first stop, yeah, right around this area here, 7880, something like that. Okay, here comes 80, so you just notice how the liquidity is starting to get a little bit brighter up in this area here, okay? Maybe I need to adjust my heat map a bit. Might be good. Yeah, that looks a little bit better, okay? All right, so here's 76 liquidity and it looks around that 80 area, they're adding and pulling here, so they're not a little bit shy up here at 80. Okay, here come the aggressive sellers and let's see if we see them really lower that offer in some of these areas here, okay? Coming up, all right, here we go to 80, okay? That's our first area, right? Okay, so that area has been hit, okay? 5190, looks like they want to come up and test 90, okay, and now these guys pull at 90, and they're supporting price now at interesting area, right? Understanding the order flow, understanding that this 5180 was important. Now they're providing the liquidity on the bid at 79, okay, just one take away from 80 here, okay? So maybe we'll see a move back up into 52 now, that's possible, okay, and they're supporting price at 85 as well. Okay, 52 looks, well, now let's see, now we're back here now to that initial question of this is where it broke from, are sellers gonna jump back in here around this 5190, okay? We saw them provide the liquidity, but then they pulled, okay? So we'll see if we get a little follow through. The sellers are back in though, as you can see, okay? Now let's see if these guys at 79 will pull, and maybe we'll get real nice move here to the downside. Nope, sellers starting to dry up here, okay? So anyway, you can see what we go through in the process for the advanced analysis webinar. We started to note buyers coming in down at this area here, we noted the structure starting to get broken, we noticed them lifting the offer and we started to place our targets, looking at 5180 or 81 being the first area and then 90 being the second area, that's exactly where we've come back up to, and now they've kind of flipped their supporting price here at 79, okay? So anyway, that's what Bookmap is showing you, and you guys have any questions, you can always reach out to us at support at bookmap.com, happy to help you. If you wanna give Bookmap a try, go ahead and you get 14 days free trial, and that'll also give you that access into that live order flow analysis in the webinar that starts at 11 Eastern, okay? All right, guys, yeah, thanks for coming, and we'll catch up with you tomorrow, bye-bye.