 in just a minute people. Hey Marius starting in just a minute there was some technical difficulties with the YouTube but it is now running. So yeah let's go in a few seconds. I've got 20 seconds yet the YouTube is working great. Okay where are we? Ten seconds. Hope you're having a good morning. Okay hello everybody it's eight o'clock New York time on Friday the 17th of November where at the end of a week we've got some news coming up in the next hour and we've also got OPEX but first of all let us do the disclaimers. All book map limited materials information and presentations are for educational purposes only and should not be considered specific investment vice nor recommendations. Trading futures equities and digital currencies involve substantial risk of loss and is not suitable for all investors. Pass performance is not necessarily indicative of a future results. Okay with that being said there are the screens as we approach the breakfast hour. I'm going to digress here and go into the context. Let's have a look here we've got a couple of people there and yeah we've got some people on YouTube. Welcome everybody if you have any questions please ask. I'm a little bit better than I was the other day I think it was just a little bit tired and croaky. So let's have a look at the slideshow. Okay let's wait for that to come up for YouTube. Okay so the main news here is well actually you can see all the news. So during our hour of power we've got housing starts or building permits which have a particular way you like to look at that. That is coming at 8.30 and the fact that we are right at the top of the rangers may be an excuse for them to have yet another pop up but we shall see. Okay let's have a look at the dailies. You can see it's looking like a perfect V now isn't it or even yeah you can almost say it's a head and shoulders on inverse head and shoulders as well but what is of note is that we are approaching or if we've taken out one little high there we've got another significant swing high just coming up at the 4.6 level the 4600 and then you've then you've got a major major high that ran the 4.7 level so they're all potentially within range especially if everybody now believes that we're into interest rate cuts territory. Okay NQ is stronger than EES we're taking out the equivalent high already in NQ and we're marching towards this high so we've already we know that we've already taken out 16 000 during that news release on Tuesday the CPI so let's see if we get back up there in the next hour. Okay the 10 minute the shaded gray is ETH and you can see that once again we're in a very bullish position EES was well above yesterday's high and really hasn't as hardly flickered below yesterday's high so very bullish in EES and NQ it's hovering around yesterday's high and importantly we're within the striking distance of the overnight high as we speak. Okay what we didn't do last time is have a look at the TPO's in any depth so since we've got a little bit of time before 8 30 let's have a look at those let's drag it across let's make it quite a bit bigger I won't blow it up that big let's just have a look. I think the first thing I want to look before we look at where we are in relation to yesterday's range which is yesterday there and the day before and the day before that basically we're we're around this three-day range in fact there's there's two ways of looking at this if we just merge in fact it's not doing that for me sometimes it does come on merge profile begin merge profile end that gives you an idea that we are really really coming out of the three-day value in EES and it looks very strongly like it's exploring up or about to explore up that is what it looks like again nothing can predict the future so that is just what it is showing us at the moment so reset that the other thing I wanted to have a look at on the TPO was really the potential of what you can do what you can do in ETH so let's just scroll back for the entire week including that ridiculous day of Tuesday which is going to be Monday here because it started at Monday let's get rid of that it started at Monday at 1800 hours in New York but let's have a look okay I think what I really like to note is that if we look at the RTH range and we split them up and we see where the last value was on each occasion it gives you an idea that that the RTH was a was really was finishing really really strongly and that gave you an idea again I'm repeating myself that we were never going to have that bearish a day down in ETH and in fact if we got anywhere even towards yesterday's mid that could have been a potential buy it's just the way we were setting up all week and we you know we can continue this on we had that ridiculous session with CPI call it ridiculous because that is one heck of a range and yeah then again if you split that one as well you can see that ended towards its high and then we had another exploration higher and split some of these let's split this one as well this was the only day that was balanced and choppy which is really that that one that led into a nice balanced session in ETH so what I'm trying to show is that is two things one we're in a period where we've got significant volatility whether it's in RTH and ETH and that means that for ETH you are going to get opportunities so that patients can be paramount I know that when I'm doing some of these webinars and I'm doing live order flow commentary I'm being pretty impatient because I'm trying to show you things we're almost forcing the market to actually show us things which is exactly the opposite of of the way the way that anybody should trade it's just because we have one hour and we're doing this live so sometimes you know we get things to talk about and sometimes we don't and the other thing is that you know nothing is totally predictive I think the best stats I've seen which are reliable on anything to do the markets is about 80% but one stat that is quite suggestive or has a good probability is where is the last little distribution at the end of the RTH session going into settlement and that can be quite indicative of what is to come in ETH so regardless of when you trade in ETH and there are four sub-sessions that we talk about in ETH or four that I talk about so I'm just checking a couple of things in Discord there is the post-settlement session which is the extension of the US session which goes on basically from settlement four o'clock onwards until the market closes and also after it reopens right up until the Japanese open so I call that like the post-US session then you've got the Asian session which is the Japanese and Chinese sessions which is really all about their open and their morning and early afternoon then you've got the third one is the European open session which is the German and the London ones which really opens from 10 to 2 a.m. 1.50 a.m. and that really runs for 2, 3, 4 hours and then you have this session which actually starts earlier than we do these webinars I call this the breakfast or overlap session the overlap between the end of or the end of the European mornings and the US RTH session so you've got four sessions they tend to have completely different characteristics but once you've you know you've played in them a few times you know as long as you have a trading system and a trading plan and you can adapt and a lot of this game is about your ability to adapt you can trade in any of those four sessions you just have to be aware that they do have different characteristics but you can pick those up just by reviewing what's happened for for the last few sessions and the markets you know the markets do change behaviors and characteristics so anything that may have happened a couple of months ago may well be irrelevant now so you so one of the things I don't tend to do and I probably do not talk about in these sessions is that I don't compile statistics going back years and years and years I know seasonality can often apply and I do look at seasonality but I don't look at a lot of market statistics from six months ago because they may well not be relevant to what we're doing right now that's why when I do my statistics and I can drag those in in a second I'm looking at the last two or three weeks of what's happened in the markets and you're talking of that let's see if we can drag in in the statistics for the eth session for today you can see yes let's have a look at eth actually we're about 50 percent of the potential eth range for either es which is the one on the left and enqueue on the right so even though we've got good relative volume where we haven't had smashing range why is that again we don't know why but we can surmise or guess that they're saving their powder or saving their guns for what's about to happen during the op-ex and in rth and also this news on the housing starts in a few minutes so the eth session coming up to these op-exes tends to be a little bit strange and op-ex itself can be a little bit strange so you you've just got to be patient and you've got to take your stops that is that is what I would do personally you know if you're wrong you're wrong it's far better to take a small stop then just let it get out of control okay good morning cmj I hope you're going really really well okay let's have a quick little look before we go on to the enqueue tpo's which are actually a little bit more interesting than the es one so let's have a look at where we are again so I've got the I've got the trademark pro here I've got them both I can toggle between them again I haven't actually looked at the normal one for a little while but let's have a quick look on this is enqueue and you can see that nice bounce right at the beginning of this breakfast session and it's a little bit cleaner here so I'm finding that these blocks or stable blocks of liquidity are providing some value to my trading but again nothing is 100% and their usage also varies sometimes they're really really good as targets sometimes they're useful for identifying potential reversal points so you know where you're stalking an entry they can be useful again there's nuance there there's correlations there's time of day all sorts of things so there's no hard and fast rules about how you'd used any of these static liquidity but one thing to note is the as I've always said the longer that this liquidity has been resting the more interested I get in it and in that sense the one that interests me the most is the one up here towards 15 934 in in enqueue I haven't actually marked it in my columns there but that is one that I am watching with baited breath come the 830 release in other words you know we could well have a pop I'm just looking at the three minute for example we're right again and we're right at the high of the day and it could go exploring up right now let's be quite interesting to see if they pop this right into the the news release if they they move it up beforehand because that makes the release a little bit more interesting to read so talking about enqueue let's just drag it over and why did I want I'm not going to go through the eth sessions in the way that I did with ES but what I did want to do is merge with the next profile and merge that one with the next profile okay I just wanted to show this three-day distribution because it's much it's much smoother it's much cleaner it's much clearer in enqueue at the moment than it is in ES so you can see this delineation point I'd probably mark it here so let me just mark in a resistance which will appear in book maps somewhere around there that ledge point you know where we end the distribution we go through a slightly skinnier patch so it will be interesting to see whether we blast through that and then go towards the week's high but I'm finding you know when you have this three-day distribution you can often create a bell curve and what is a trading range a trading range is let me time to draw the trading range is essentially a range from there to there and it's it's often delineated by price and it can often be more clearly delineated by this type of bell curve you know that beautiful bell curve people often talk on this daily volume profile stuff of value added high and value added lows at 70 percent I don't think that applies unless you've got a beautiful bell curve I think it's completely irrelevant if you do not have such a bell curve but this is this is very very pretty so you know if we were drawing them here let me just ditch those lines you know it depends you could even draw them you could draw one right at the top there you could draw one another one right down there for example and that is a beautiful distribution and on every time frame there is some form of distribution like that here it's over a three day distribution and I'm talking about a range so I'm just saying that because these markets happen to be so fractal you fractal you can find some kind of range that they're going you know that they've got supply at the top demand at the bottom if you look hard enough one thing that I do as well in my training it's not in book map dear come on let me just get rid of all of that get back to the cursor so I can get rid of this well I that I don't do in book map but in my actual bar charts I tend to have two charts and they're for fractal purposes they're not typically I'm not talking about the 10-minute chart which I use just to tell me how we're progressing in the day there'll be two charts one will be a very short short time frame just make it rid of that chart and the other one will be either lower or higher so most people will often keep just a higher time frame as reference for their other chart what I tend to do with my other chart is that I'm intrigued to know where the ranges are whether it's on a lower or a higher time frame so I will quickly flick between them to sometimes help if I go both above and below to see what is happening on different fractal time frames okay quick time check 8 16 let's have a look let's have a look over at ES because we haven't really talked about ES coming into this one let's zoom all the way out again so that liquidity somebody can correct me if I'm wrong but I think that's been there before today and I know I've got it all the way back to 1800 New York time but I think that's been there two or three days at 4545 so those often get hit but again nothing in trading is a hundred percent but the fact that it's been there this long means that at some point somebody wanted to advertise that they were willing to trade up there and that brings us to the point again of you know you've got to make sure that when you use this liquidity that you have your own trading plan and that it encompasses in some detail how you use this resting liquidity you know it's got to be something that you do through your own research you know not through Tom talking about it through me talking about it or Bruce talking about it has to be something that you have tried and tested yourself before you put it into your trading plan and before you put your hard earned money into trades that encompass it okay so we look back at ES and let's just zoom out a couple of hours no this is um two hours so far so there's little liquidity here that we're just approaching now which is at the weeks high the WH the weeks high which was on that TPO I showed that's been there for a good two two and a half hours and if we flick across to the trader map pro chart I'm using this more as a high level map in ES because I have not found a really really good size filter that makes me want to stick with it so this is this is just a filter that is filtering out any orders in the book that have changed by price or size so in other words this filter is identical to the filter over here in NQs I'd call it I'd call it almost like a static map filter but it's interesting that we're coming right up to this weekly high if you were around for the first 30 40 50 minutes of the London Open all they were doing really was chopping around to get some fuel to go and stop hunt so if you look at the NQ chart from earlier you'll see that they they they tagged home they tagged yesterday's settlement because as we know there's often order imbalance there and they also tagged the stops above yesterday's high so nothing really has changed we're a little bit bullish we're a little bit above yesterday's daily high but if you can look across in the NQ you can see that settlement is very close to yesterday's high so it's not a tremendous amount of change we're just in this bullish almost holding pattern going into this news and options expiry and let's zoom in on what is actually being traded go back to the normal map it's actually quite clear so on this occasion there isn't a tremendous advantage of using the Trader Map Pro in ES and you've also got the MBO stops icebergs which you can't use in the Trader Map Pro so you've got a sizable MBO stop run there on this little high 815 so that's 437 that's quite significant in ordinary circumstances that would be one of the triggers that I would use in my triggers to either scalp against or to use it as a swing point for a trade for something that was more than the scalp so in other words I'm just saying that this is a large number at this time of the day so that's just unusual because we're right under a level where I thought they'd slam it through to look for some stops but on this occasion they looked like they're just testing to it found some stops and are holding at the moment but there's no major rejection there one of the things that I find useful in book map and also in my charts is these vertical lines you can see them more clearly here in NQ sometimes I don't need to see MBO stops in NQ when I see these lines they're like a stop they're just a quick flush to go and get something and then they often turn around and go back to exactly where they came from it may not be immediately but it's likely at some course in the next half hour to hour so it's just one of those things that's that's why I have these price lines there I think that's the main reason that I do so I can actually see these vertical lines and it has to be completely obvious otherwise I totally disregard it so you know where it's coming down like this that's a lovely channel and we can draw a line let's just draw a normal line you can get a lovely channel down and you can see the difference between this one which was straight up that's what interests me and then you can see that it takes it all back almost straight away and then again you have this little flush up and now we're channeling down so the idea there is to see the contrast between these flushes and then the steady progressive movement okay and that's something the book map can help you do in a way that you can't do on some platforms because you can zoom into this both vertically and on the time axis so you can get right down to the microsecond so you can you know sometimes when we've got highly volatile action in rth you can really see those flushes more clearly on this than you can in in a traditional charting platform okay I'm just checking on comments and there's nothing really coming up trying to remember exactly why I had that level there as well just looking at this little yellow level and reminding myself why I had it I think it was resting liquidity yes the resting liquidity and I should also have marked the liquidity up at 33 34 so I might just do that now if you can excuse me I'll just do that in Sierra so we have that marked and it should appear in book map in a few minutes in 160 seconds so it should appear just that again as I said with the cloud notes it can take up to a total of 60 seconds I think the refresh cycle is 60 seconds so depending on when you put your cloud note together it can either be one second or up to 60 seconds depending where the where within the 60 second cycle we currently are okay let's just have a look here just try to keep the picture on ES as clear as possible as we are going into this news and again something that I reiterate that I have to do for my own eyes is that I do have to zoom in and out vertically to try and get this kind of picture you know if you screenshot that now in ES that is what I call one of those clear pictures where I can see where the liquidity one two three even four levels are and that the low liquidity is shaded but not really getting in the way and what I'm watching here is this week's high up here to see whether we can flush through that and hit some stops before we have that news release and I'm going to turn on in a what's times in a 24 in a couple of minutes I'll turn on the financial juice feed again if you can't hear it in discord I apologize I think in youtube it is definitely being played so the fact um let me um the fact if I just drag one of these charts here let me just drag a chart this is one of my charts this is not the execution chart but if I just change this to a 10 second chart just for just for one second you can just see they've been knocking on the door and if if we have a range on that it's basically a roundabout there it's not my execution chart but I do see my orders on it it's one it's one of the reasons why I trade in Sierra that I can have my orders appear on multiple charts even if it's not directly the one that I place my orders on I have got my trading engine turned on but I'm I'm not expecting to be able to double task or multitask and talk about what's happening at 830 and then take a trade I just don't think you have them the mental space or just the the level of calmness you need to to trade and also talk live about what's happening on this heat map so I'm just saying that we're at the top of this range you know we may go back to the bottom of this little range again and again and again until they've got the fuel to blast their way through and that's looking like what they want to do you know ordinarily we then scroll across and see are they trapping any sellers in this zone or where are they trapping any sellers so we would scroll horizontally to look where they are and you can see these red tails so I find that if you are looking at these resting liquidities these tails are important so you can you can work out in fact I think they're more important than the actual resting liquidity just so that you know that the fuel might be there for that reversal you know whether it's a small reversal or a major reversal so you can see we're at this off the range we've top ticked a couple times so here we might have topped it once twice three times then we might pop down the bottom of that range and we'll see how far we get down there before we have any further attempt to go back up again every time they go down there you might want to scroll in so you can see what that red tail is building like so as you know if we get a little flushed down you know you can also look at this vertically and see if it is a proper flush down and that's where I'm saying you know have we got that vertical type line which may help us to go get back up but remember it can go completely the other way as well yeah who knows what this news will be like maybe it will be negative in the sense that the market thinks it's negative and will plunge so again we cannot predict the future the fact that we've got liquidity above in both ES and NQ does not mean that we will necessarily go up we will not necessarily tag this liquidity or this liquidity it's just one possibility okay I'm going to turn on that news feed now and that should be running okay I'm checking that I can hear it as well yep I'll be able to hear that too so they're not actually talking at the moment double checking that is coming up it's coming up it's just a little bit quiet normally financial juice would be talking non-stop for the couple of minutes lead into a major news item there's also some fed speakers later as well so at actually in the within our breakfast hour we've got fed Collins fed bar and and afterwards we've got feds daily and feds ghoulsby never come across that one before ghoulsby okay I'm not up to speed on the current fed speakers so again as I said with this you're looking to see what kind of fuel they've got to get back to for example this liquidity here and you're also looking to see what might have traded at the bottom I mean if there was an unfinished auction doesn't mean that we're going to come back and tag it immediately or even anytime really soon it's just the probability is high that we will eventually come back and take it out because the market under auction theory or may not have finished exploring in that direction that's what an unfinished auction is really all about so okay we have one minute hopefully people on youtube could hear that from financial juice in fact we've got 45 seconds so once again once we have some action I will mark I may get the pen ready now with a horizontal line I will mark NES where the scene of the crime is and we'll see how the market behaves in relation to that scene of the crime the scene of the crime crime is where we were before any pop in either direction it has to be a pop otherwise I I won't bother marking it and I would be anticipating a pop above the wick high at least looking for the stops above there 10 seconds here we go so let's watch the 4545 if they can get there so that's gone down we haven't really had a pop so there's no point marking a scene of the crime and you saw NQ had a little pop down a flush and we've already reclaimed it so what can we deduce some eyes etc from the lack of volatility or activity while well maybe two things or maybe three things one the the news wasn't or the the actual um I'll turn off the news feed by the way the actual news that was released was not of that much interest yet to the markets secondly the markets might be waiting for those fed speakers thirdly the market might be waiting until the rth opened for doing some weird opex action but so far we're just chopping around I know we've come down a little bit in there but nothing really really significant has happened I mean if you go back to Tuesday that's when you want to go and put replay on to your charts and look what happened and the way that you know after after it exploded up on cpr which is often the um the big one that um it never really looked back okay so we've got had a nice little down break here I've got the volume dots really turned down so there has to be a significant volume to actually trigger a dot at the moment just because I wanted to focus on showing you the the flush type lines but um I've forgotten what it is it's 25 so you need a volume of 25 to actually see any of those dots again it's because I am not one of those people that really trades on the basis of those dots I do have visual time and sales I've got I've got traditional time and sales and I've also got a visual time and sales so I'm aware of when the big trades in for example we just had a trade a sell of 65 in nasdaq and we've had two buys 101 and 83 and yes I'm aware at all times of the sizes of orders that are going in I just since I know what they are I don't get a tremendous benefit from having those dots plus I am more interested in this kind of delta tail because now if you look at this tail this is really worth looking at and you see there how red that is right and what does that mean it means if they can get above it they can get some juice to go and hit some of these yellow blocks that I've marked um you know for the resting liquidity etc and again where do we get down to we still held yesterday's eye I know I drew it as a zone rather than a price level but the moment it's holding and remember we're way way above the ES ES days high which is down there at 425 50 and and if we do zoom vertically you can see what we're doing is tap tap tapping on this liquidity underneath the weekly high so the fact that it could not get down even when NQ had a little move down is quite bullish and the other thing we can do is zoom vertically and we can have a look at all these tiny little fractal swing points again that's where I find that the the dark gray price lines that I've got tend to help me sort of you know have they really made any progress even the times that she broke this little swing here you can see it was a little zip back up you know if I drag that across down and straight back up yeah same again here down and straight back up so that doesn't look to have been any real appetite to make any progress to go south it does not mean we won't have a big bearish trend day down in RTH we could do who knows what will happen but the moment there is not that much appetite for going down I mean when you see that kind of action that's also important you know much earlier in ETH you know if for example we were channeling up on ES or NQ looking for you know key levels like settlement or yesterday's high and you kept seeing this this is what I've talked about a lot on the micro structure that you know that the appetite might not be to go down then it becomes extremely dangerous to go short too early and they'll often make it crystal clear to you when they finished exploring up you know NQ may for example have a great big volume pop at the end or a massive spike surge you know you can also see on the time in sales when those orders rush in okay all right okay NQ's had a little bit more of an appetite okay they haven't got enough fuel to go up yet so we're going down for a little bit we've also had a cell iceberg here in ES though yep so it looks like we're not ready to go up yet so there's no momentum or impetus from that news and it'll be interesting here so we could say that we're in a range again yeah so if I drew that back on here and said that the range was essentially we're still in that range it's only a range on that particular time period but it is a range for that purpose here we are again knocking on the door of the liquidity at 4540 and so we're within two ticks of the high of the day so we're just hovering hovering hovering at the high of the day and if they had not got the fuel yet you know don't be surprised if they don't have a liquidity spike down to go and get that fuel and you can see even though NQ is actually exploring back you know yet again to the edge of this range around about yesterday's high ES is not one of the reasons why I like looking at NQ and ETH is because these tails become more obvious sometimes you have to zoom out to see what is on the actual extreme of that tail but as I said the unfinished open can be a double-edged sword you know if there was a huge number here of cells at the bottom that can also be enough fuel to go back up or it can also be in other circumstances a signal that they are busy exploring and want to continue exploring so we're now going to look for buy stops you know buyer stops underneath yesterday's high so they're looking for some stops here we've got this liquidity that's marked here which is the round number 1500 it's getting quite close watching any of the other liquidity just double click that move that one up and that's been cleared already before we even get there we've got settlement right in this zone so I have to see whether we bounce straight back up or not and we have a nice tail now we even have some progress on ES there's a one minute range as well so if I drag that chart back in on on in queue as well and draw I know I drew a 10 second range now here's the one minute range and we're going to the bottom of that one I mean trading evolves being aware of so many different things and obviously I'm looking at all the correlations at the same time as well let's draw again one of these webinars bring my drawing tablet let's have a look over what's happened to ym and rty after that news so ym is still super strong let's give that out the way so we can see nq's tag settlement again rty is a little bit weaker there's no weakness really at all in ym yet and if you were saying any of the four markets was leading I think you'd clearly say it was nq this is a nice little flush so what can we do here let's have a look at this that's just channeling it down so that's not a flush that is a flush that is a flush yeah those are often you know after we had a good move and you get a little flush like that at the end that's often reclaimed fairly quickly but the moment yeah we're into a nice little trend down down here you've got yesterday's point of control so yeah one thing I did say is if they didn't have the fuel just yet don't be surprised that they don't have a liquidation spike down that looks like what we're having at the moment that's why we've always got to have our eyes on both sides of the market we can't automatically assume that it will just keep going in one direction okay now that we're down here let's have a look at the resting liquidity in in q there's a nice little level just above yesterday's point of control at 15 875 and they're holding that level there so it's still there what's happening over in e s look at trader mat pro as well still a way to go until we get to some liquidity that's been there a while they have that liquidity settlement 4524 that is clearly resting liquidity yeah but you have a you know I still have this feeling that this even though this is currently a big fat resistance wall it's also going to be attractive to them at some point relatively soon whether that's the rth open or not I don't know yeah so if I was actually taking a trade I would be stalking around about this liquidity down to yesterday's point of control to get along to reclaim some of what has been taken away I also marked a range from much earlier at the london open the bottom of my range in nq was about 877 so it's really about there that's something I'm marked on my charts at the time I'm often marking ranges hey tom greetings to you we're just watching this resistance wall and this liquidity pushed down to maybe get a little bit of fuel so again if we zoom right out in nq you can see this is a bit of fuel should they wish to go back up again or maybe they wish to go to the bottom of that range at 77 ish but at least that's totally different from the action that we've had for the last two releases um double check on fed speakers so we now have a fed speaker fed colons and fed bar should be speaking in 45 seconds so again we have to be aware of that one just in case they say something we know that part of this extreme bullish run this week has been based on interest rate cut expectations so if they were to say something adverse or in favor of that that may have some momentary impact on the volatility so we've just got to be aware of that going into 845 am new york time just looking to see what they're buying in in e in nq there's a few orders going in now quite a few buys going in we have this little liquidity there can that hold the market you can see a little range that's developing in es here if you look at the actual microstructure as well in es it changed when we got to there this was the first little spike down that was not immediately bought straight back up and so no great surprise that that was the bottom of that particular range and that is a range breakout down so and we're now in this little range here i'm not a breakout trader i don't think you'll hear me talk about that very often um but yeah there was a breakout there i would not have got it and that's not really what i stalk or hunt 46 of the um fed speakers i'll turn that news feedback on just in case anything is happening i'm not expecting any noise out of it i think i heard one word just then but not very much so yeah we were talking about this resting liquidity earlier now how we'd actually use it and i'm saying that some of the time it acts as a nice little reversal point some of the times it's a mag magnet and sometimes it's both so on this occasion there's a little one that they put in there it's sort of momentary resting liquidity in the sense it's only been there a few minutes may have acted as both now that's just bank of england i don't think that's going to have that much impact right this second on the nq so they tagged that liquidity but it's now been removed or any any real remnant of it has gone so we just have a quick zoom in and out have a look and over on es we've got some liquidity which is holding us in this little range here why are they holding us in this range you may ask yourself and you may come up with hypotheses you know is one of the reasons or one of the potential reasons that they want to trap as much seller fuel as they possibly can down here so that they can generate some fuel to go back up there that could be one of the reasons but we don't know do they want to take us back down to yesterday's high and then bounce off that or get us back into range even again we don't know you can see with this over here the clarity changes a lot on this depending on your current zoom level so when we zoom to that level you could see that this was clearly gone and that these became the paramount liquidity levels on view so that is my point about having to or it being worthwhile in my own opinion to zoom in and out because I'm trying to get the clearest liquidity picture and that is on the basis that liquidity is still secondary to actual traded volume I find it useful but it's not the primary determinant okay I'll turn off the news feed again after he said that I'm just having a look at the US dollar to see if there's any impact on impact from the yields I'm not seeing an awful lot of volatility in that dollar at the moment so we're just really commenting about not very much to be quite honest it's me really commenting about microstructure and key levels I'll be intrigued as well if people have actually tried out that beta of trader map pro what anybody else's thoughts are and whether they've found it useful remember it's not going to work all the time you know sometimes it might just be a big mess I do like switching between them and one thing I don't want to forget about as well our resting icebergs I prefer the cell ones I'm distrusting of the resting by icebergs as a target I'm much more interested in interesting the resting cell ones for you for example if we'd had a resting cell iceberg just here with a nice liquidity above it I'd be very interested in looking for a stalk to go long but there isn't one there yet and there's no point taking premature trades because it can continue to go a long long way from where you want it to eventually end up before it turns around it's better to have your own system of triggers that you've tested as reasonably effective so what we're watching here in ES is this iceberg to see whether they are trapping enough sellers and remember we can always zoom in to see what is hitting the extremes at the moment you've got 179 cells you've got about 250 at the the level above 250 in total volume and we're just watching what is happening to this iceberg so we even though it says 80 we can see 184 so that you know some of them some of the cells are via the iceberg and some of them are just happened without the iceberg you've always got to bear that in mind that I like to know the total volume that is potentially trapped here rather than just the iceberg number again these icebergs are often taken out does not mean that that this fuel is irrelevant it is still relevant in my opinion so we've now broken through that and the next key level targets are obviously those two yesterday's high and settlement so we might be on a settlement drive so you know if we look back in hindsight in hindsight it's always wonderful you've got this as your resistance barrier and that they're now moving us back to these two targets maybe even to that one as well yeah I mistakenly believed because we were so close to the week's high that we would flush through this liquidity go above it take these stops out and then come down but that is a fallacy in trying to predict what the market will do the market will make a fool of you every single time you start believing your own predictions and when somebody tells us that they have an indicator that magically said it's going to go down there now that's when you know not to believe them yeah there's anybody in this industry that is telling you that they have something that can predict the future immediately stop listening yeah I was talking about poker about a couple of weeks ago the thing about trading which is much more important than in poker itself is you do not know who may come into the market in the next instant you know that is one of the prime reasons why you cannot predict the future in trading you know there may be a huge hedge fund that wants to buy here at 4530 you can't see them we can't see them they don't have any orders that are visible in the book all of a sudden they buy a thousand es and it shoots straight up that was the future that you could not predict so when somebody says oh I've got an indicator that's going to tell me that this is going to go up at 4530 you have to say really I mean one of the things as well now I talk about how you trade in the European Open Session at the London Open I find that having those key levels like wanting to go and tag home and find the order in balance at settlement you know home being settlement you'll often find that the actual order flow or the action prior to the sudden move where they just spurt right into that target like today where they took out settlement and the previous day's high and they kept going for a bit there may be no order flow it'll just be because at that time of the day they have turned on their buying algo and until that happens you know until you see that actually physically happen and there's suddenly a massive line of activity in the time in sales you know there is very little that that you know the markets are showing you once that is there then you know a lot of your setups can come into play and that's partly what you know what patience is about okay let's have a look at this liquidity level on the trader map there so they took that one again it looks like a nice little bounce so don't know if we'll get a proper bounce this time but that's where the utility of this can come in handy you know if you can see this you know you've had this to come down here you could have used it potentially as a target you could use it potentially as a reversal point that's its utility and we need to contrast that with what we could have seen on the normal thing I mean you've got these millions of icebergs which can just confuse everything I mean if there's anything about these icebergs that is taking note and you can see that on this sub-panel here is that they're all buy ices so you can see the blue iceberg above the line is buy ice and so maybe they're by icing in other words absorbing all these sellers here through icebergs to drive us up so that is where that could come in handy otherwise you know it may be too much information to have so yes sometimes you know what I have is I have a hotkey on my keyboard so all I have to do is press one button and I can switch between them I can do the same on ES where I can go between TraderMap and normal MBO style heat map you don't need a special keyboard you can just do with any keyboard shortcut I just happen to be doing it with my left thumb why am I doing it again it is to provide the most clarity I can get without creating any illusion for myself that I can magically predict the future and that this here would be a reversal point I still don't know until it has reversed i.e. hindsight that that was going to be a reversal point so it's just it's just a probability that because they put this liquidity here once they'd got down here that they were going to wait for a test back of that demand zone and then zoom up and the fact you know that that could have been a nice little scalp that little flush we just saw reclaim in front of rise so that there was a flush and it got reclaimed and that is why I have these price lines I'm more interested in those price lines than I am the dots I think you've seen me in these webinars I change the value of these dots I've even played around with having those delta dots but the delta dots don't do anything for me in the way that some people use them because I look at the actual profiles the volume profile and the delta profile and I get the information there and I also get the information from the pressure in the book and the time in sales that I can see in Sierra so now let's zoom out to basically the 830 mark what do we have here we have a nice delta distribution that's something you don't ordinarily have but if we draw it that is nice because that gives you a zone I know we're also in a little trading zone here which we could draw like that which almost directly relates obviously to this delta thing but it does mean that if you were going to have a breakout above and you can easily just keep going this might just be a pause in the continuation it's often you know when you get this price action here you the most likely scenarios you go down not up but if we did manage to get above it then that was fuel but we just have to accept that the actual price action tends to be down from this and the level that I was looking at really was around about the this zone here and then maybe a bounce off that and then back to settlement and now in ES as well we've got this when you get that what are they doing they're advertising in the strongest possible terms or they're trying to flash this to get people's attention that they'd like you to get down here which is yesterday's high effectively so they can fill their orders whether their orders are there or there or there or there who knows they're just advertising as strongly as they possibly can that they'd like to fill some orders around there that's what that means it doesn't necessarily mean that that will get filled let's go back and have a look at the icebergs again in so ordinarily I would disregard the icebergs in enqueue but when you have this many and I have this panel for that reason then you think well actually you know this may be irrelevant but when you have this many irrelevance added up it becomes a little bit more relevant so you know that is adding the weight to that maybe that this is fuel to go up you know the fact that these are all icebergs on this occasion we're trying to get back to the top of that range let's see if we can actually break out of it it's still struggling and they've got a couple of icebergs that are live still resting in there so maybe they haven't finished filling their orders just yet let's just zoom out again on ES to see what's happened since the 830 news we look at where we look at the profile and also what's down at the extremes and you've got a little roll over there a roll over tends to be a single figure extreme so it's seven here NES and it is one of those things that's probably more important in RTH if you only have seven at a significant swing point in ES that is a true roll over and that's often a good signal that it's going to go and auction in the other direction so yeah so to conclude with what we're saying here in NQ so even though the price action probability was continued downwards these icebergs actually reversed that and they were absorbing it to get the fuel to get back up to settlement so that's where having both those maps was actually really quite helpful then we are almost back to settlement then you have a look on the map they've still got those levels up above and you know in hindsight again you've got this thicker liquidity acting as the turnaround point okay I think I have actually gone over my time I was just going on and on it I hope that you have a very good RTH trading session I wish everybody a really really good weekend so I will end it there thank you very much for watching I will see you next week bye