 Okay welcome to the live order flow analysis, our advanced analysis here in bookmap. Risk disclaimer, trading equities and futures involves substantial risk of loss is not suitable for all investors. Past performance is not indicative of future results. Let's see here. If you haven't yet you can follow us on Twitter to get up-to-date information and then subscribe to our YouTube channel as well if you haven't and you'll get updated when you know there are new videos that are uploaded to YouTube. Okay well let's jump in and get right into the order flow here. Let's see earlier I was covering oil because you know just was S&P is moving so and it's kind of kind of looks kind of interesting here but let's just continue on with oil I think for the most part because you know we covered this kind of longer term area of interest and you know we saw that last Wednesday after the inventories after a bullish inventory number and yet it sold off hard and yet we saw the order flow on the much higher time frame we saw the absorption okay and it took a few days for that to turn around but it did and that's where we started to continue to watch it and just you know I couldn't believe it like you know I know they were positioning themselves over here and then you know we had a day or sorry it was in this area here a 4740 and then we saw the the buying step in here and then we saw the nice move on what was it on Friday right to the upside okay we're right back down okay in fact yesterday we were looking right at it let's go to a half-hour chart okay so this was the area that we were looking at and up during the webinar we were up here and looking for maybe this 4740 to you know be the the area of interest and I was I was a little surprised to see it actually go through it but it came right back up to it okay so it rejected out of that area so you know so this is still an important area and we can see that you know price and again in this area right here we came back down and then that we're right back up and we've had a couple retests in this 4740 area as well okay so let's continue on and we'll just continue to look at that okay and zoom out so okay so you can see the move up here in oil some some basing within a range and then a break here to the upside and pretty pretty a wicked break down below the the structure here and it starts to accept down below it here as you can see now Homer I hope this helps you I mean these are a little bit clearer lines as you can see of some of the some of the structure like this line especially here at 4780 okay so just very simple stuff but we can understand that there's a there's gonna be a volume cluster up here now there's gonna be volume cluster down here and it rejects when it comes up into this area and it keeps on falling back down below 4780 okay now we see a break here of that 4780 okay and then we see a few different you know breaks of you know some some levels here in volume right now we just saw witnessed a nice break down through all of those little areas we're right back down into here okay and start to anticipate though and at this area around this 66 area for responsive buyers to step in okay now this goes through that educational process that we have on our YouTube page okay that I pointed Homer to yesterday let me show you where it is again today where is it here it is okay so and I'll give this to you guys this is available for the advanced traders okay and go through the educational process here now they're about an hour long each okay and why is because we go through the market auction market theory and you know start to understand some of these areas and for example why I was anticipating buyers to start to show up down here okay we're gonna find responsive buyers okay we're also gonna find that anyone who sold the break down here is gonna take some profits down here right so in looking for a retest and I'm still looking for it to be honest to this 4780 okay and for a number of different reasons but but you know this is we haven't gone up there yet so sellers are in pretty pretty strong control at the at the moment and we can we're right back down into this range here and looks like we're break breaking through it now okay so high liquidity here next maybe the next stop let's see if we get a test of 4760 here okay good morning Adam let's see when you have activating I'm sorry let's see here the size numbers I'm not sure what you mean by the size numbers Adam okay alright so let's see now we got it we're getting kind of a flip here so look at here come the aggressive buyers right boy let's see this we've seen it so clear the last few days and and today I'm not quite getting a good reading I do see some buying coming in here but then the nice cluster here is selling okay and then again nice little cluster starting to develop up here okay so let's see if those buyers step in again here so we'll and then we'll finally get this 4780 tested okay they're just stepping in now okay so not only 80 but maybe we can even get up back to this 47 yeah there we go there we go okay let's see if we can get up this 4790 now all right yeah there we go beautiful okay I would I would start to anticipate some some of the responsive sellers now okay they're gonna take some profit up here and then maybe we can get a retest back down to 80 or maybe even the 75 level okay let's look at 80 first though because it's a nice little cluster right here okay you see 107 and 177 where where do you see that now 194 okay I'm looking I'm looking on the jump oh this number here is this what you're talking about on the jump oh or maybe in here in just these red numbers the 200 okay all right all right here we go now we're gonna test 4780 or I'm sorry 48 the figure and that's where we could not break through up here before okay so I'm still looking for I mean we might see the breakout this might be the breakout here but I know there's gonna be some guys are gonna be taking profits up here okay and and we'll probably see some responsive sellers up here and this is the figure as well okay so that's and here we go okay slight breakthrough let's let's see and then let's see if we see the sellers come in let's zoom in a little bit more okay instead they're flipping right we can see them flip to the other side here okay buying pressure looks pretty good we might not get the retest that's a lot of buying so yeah here we go I think I don't think we're gonna get our retest looks like we're gonna continue to break up break out to the upside here okay now now that that picture is getting a little more convoluted now starting to see no no I'm sorry I'm sorry opposite we see them here with pretty high liquidity we just need another burst here of of aggressive buying and it there we go here we go let's see if we need follow-through though okay and that is not the follow-through we're looking for look at the seller starting to come in now okay so looking for now looking for retests okay say the order flow see the order flow flipping over guys you see that see how that that we see the the aggressor sellers coming in here so based on that well yeah the buyers now the buyers to step in okay so it this is this is something that you know this this is a it can be this can be confusing and so I want to I want to cover this point here because this is this is important we want to read the the aggressor we want to read the support in the book as we did in here and that and I flipped because all of a sudden then I saw that the aggressor starting to come in here I'm sorry the limit order book started to become aggressive on the bid so then then I was looking for that that continuation because a lot of buying plus the support here and and then it did break out a little bit but just very slightly okay now where this can get tricky is in this area here the we started to see the selling come in right and the I shouldn't have jumped the gun so much looking at this little area right here okay because this is where we made a swing low here right and and we tested that area we did not break below it though so structure is still holding here okay we're still at this 4805 or 06 area okay we wanted you know so the buyers can step in still and and really lift the offer okay and they did right here but we did not break out to the upside okay we got another rotation down okay so first let's look for the structure to break okay so we got that we just got that now not by much though so this can reject and come back in the middle still okay we want to see a little more follow-through on that okay and there's still high liquidity here I mean there's 260 contracts here so you know this can go both ways right now and the buyers the aggressors can can come in here and we'll see maybe maybe we'll see them come up above this this area right here at 4809 and then they will you know lift the offer with some some pretty aggressive buying okay so that that's a that's a potential scenario here that can unfold okay on the other hand what can happen as well is these sellers here get very interested on the limit order book we get kind of exhaustion which is what is kind of playing out at the moment is see the buying up here at this little peak we see not not so many aggressive buying aggressive buyers so therefore we can we can start to look for a retest of this you know this area here at 4803 okay we're reading we're just putting together the pieces here now and we're doing it rather quickly so you know it's you know maybe maybe a bit much here but it's the same it's the same thing that we'll be looking for and looking for the transactions right in these clusters of volume and not only these clusters but what type of volume is it okay so we can read the color in the size here and we know that this is aggressive selling okay and then putting what about the other side now up here look how that you know the aggressor the buying kind of a petered out right so what we have we have less contracts so we can't even get up above that area yet doesn't mean that that scenario is finished yet I mean with that can we're still kind of holding structure here okay so that we can still come up here and we can see the aggressor you know the green dots and have them hit the I'm sorry lift the offer very quickly and then maybe we can test this 48 15 area here okay so so it's a it's we're that's what we're reading here is the intent of the traders the targeted areas and and where they're committing themselves and what type of commitment you know aggressive selling or aggressive buying okay Adam what you're talking about is the you have the advanced book map advanced subscription is that right yes okay so come up here to studies configuration iceberg detector and make sure that this is enabled here okay and then what version do you have okay if you have 5.0 you probably don't have this number here if you'll need to 6.1 so log in to bookmap.com and download it there okay you have 6.1 all right okay so then then you should be good so I just enable it build 43 yeah you're fine and then you know just make sure you have that enabled here and you should be good okay so let's continue on with our process here all right so note how we were we were reading this okay the the process although that was rather kind of fast and furious the process is still holding true okay up in these little tests up here we had very little aggressive buying we started to note and we noted it back here to be honest the aggressor of the seller starting to come in okay and then we saw a little bit of a breakdown here okay and what we traded right back up into the range so it could go both ways still okay now it's not looking too good we see a nice cluster of volume here on the sell side and this is we've got a few different things to look at number one is that breakdown of the structure number two is this nice cluster of aggressive selling number three is up here we were exhausting out of buyers okay we can see the we can see them here we see the buying okay and they're not very interested number four look at the intent of the traders up here okay they're getting very aggressive with their limit orders at some of these levels all right so they're lowering the offer okay now we don't I mean it is true that you know we don't know what might unfold in any given moment but putting these pieces together is what we can go on and we're looking for due to that looking for price discovery now to the downside all right by by looking at the majority of the players in in the order flow right now we can start to look for that this kind of you know price discovery to the downside now okay and we need to we need to judge it as well like for example just because of this cluster and and and here's our line here we got our we got the breakdown below 48 0 5 or 0 6 okay we've already retested but look at this retest here okay not a lot of selling in fact it starts to exhaust out at 48 even okay what we're looking for in price discovery is we want to see it break down and we want to see volume trading at these lower levels okay so to me it looks like we're just kind of range bound now at between 48 0 5 and 48 yeah any any questions I'll go you know I can go through slower with some of the details here but this is looking good now we're seeing more volume trade at this lower low okay and now we're breaking down see the price discovery like I'm talking about right there we go nice little breakdown there okay we were looking for that up here okay and we were looking at it and we acknowledge that anything can happen but based on what we know and the commitment of traders here and we we noticed it back over here okay and then the little breakdowns here in these areas but we still weren't quite sure but this is this was starting to give us some good insight and they'll just I'll just go through it again so this is what to look for and then that you can start to anticipate this kind of activity or this price action to the downside okay so again we noticed over here more selling starting to come in okay and we noticed in this area here we couldn't even get back up to the test the highs and we saw a very dismal aggressive buying in these areas in fact we're exhausting out basically okay and then more sellers at kind of the lower areas okay and then we break the structure here and then we note also in the limit order book how they're getting aggressive and lowering the offer with size and they're staying in the book okay and start to anticipate that move to the downside okay so now I'm what I want to cover is the understanding the order flow here in the limit order book and putting these pieces together as the majority of you know that gives us the insight here and why I'm gonna cover it this way is because a lot of us are very familiar with volume profile trading and market profile so for example here's your profile okay and we're just gonna cover volume right now all right and we can see nice little profile up here okay and then there's a very nice low volume node here at 48 okay most most volume profile traders know that the market does not like trading here at 48 okay because there's not a lot of trading activity that's the majority of traders here that's the point I want to get across we don't know what's gonna happen here they might flip and it might it might go to the upside but for the most part if we have a nice move down and we have commitment and price discovery to the downside here the majority of traders are not interested in buying up at this area it's gonna exhaust out okay and that's what happened in this case we got a beautiful pullback here okay right to where we broke from right and and look at the price discovery to the downside now okay so putting all of these pieces together in it's you know it's the we you know someone can flip and someone might some big player you know might do something very very aggressive but putting all these pieces together we have we have a pretty good probability and knowledge of the commitment of these traders and their intent as well in the limit order book we can read their intent and we can put the pieces together and and we can look for moves like this all right all right so yeah ask questions anything about that I'm happy happy to cover it but you know just I'm trying to make it simple and just go through steps of what to look for and what to read and then and then make a very very kind of deductive argument and so it's a very objective decision trading decision based on the information that we have here and then start to look for these types of moves start to anticipate them and set yourself up for them okay all right a few questions here could be possible to add volume profile inside book map yeah you're looking at it right now here your volume profiles in fact a market maker let's see I think you're you're new to to book map so let me let me cover a few of these different things the I'll quickly go through it the columns okay so we have COB here right this is your current order book this is your dome in book map and the and you can see the levels all right can you hear me now how's that good okay all right good all right sorry about that I'm not not sure exactly what happened here I guess it just kind of got partially disconnected okay so let me I'll go through these these are important questions so and and you know if you guys that are in trial and you want to understand how to start to integrate volume profile and auction market theory within the order flow here in book map okay because it's I mean they're kind of two different beasts but we're gonna use the same process to put it together and that's what I want was trying to cover here so and I'll just quickly go through some of the columns right that that you're looking at so you've got many different data columns here we've got our current order book and this is a volume profile column here and this is a volume profile column for the volume that is displayed within this chart range so if I just use my center mouse wheel and zoom in quickly note how this CVP volume profile changes okay all right and then if I zoom out it changes yet again okay so it's only for the volume here which is a nice thing to see because we have another volume profile here the SVP this is for the session range volume profile this is for all of the volume since when I opened up book map and started collecting data so what you can do is you can you can start to understand how to play off of the two different profiles here like we saw the low volume node up here well do we have a low volume node also in our session range volume profile and yeah we kind of do it's actually not so clear in the session range volume profile but it's definitely lower here than the other areas around it so maybe this is pretty strong area for you then if you're a volume profile trader okay look for this nice little pullback here it's a beautiful this is a beautiful setup right here we broke structure okay and and we came back up and we actually didn't quite test where we broke from but we're just one tick away and it tested here a few times okay now again this this setup here and this is a this is a good one I may even have to use it for the next time we do this is covered in part three of our educational course so you might want to go back and review that and because you know you can set some of your limit orders up in this area here but you might not get filled so this we're talking about you know not just a setup but also optimizing your entries and exits here you might want to look for you know maybe place a limit order up here but maybe a few ticks below your your percentage for getting filled are going to be much higher okay yes if it comes up and tests here or even test a little higher up into the POC of this area here you're going to take some heat but at least you're going to be in the market looking for that high probability trade to the downside all right so all sorts of different ways and then getting back to your your question there market maker the so we yes we have all sorts of different profiles here to take a look at you can also right click in here you can format the column you can split out the data and we can also look at it this way here okay but the aggressor who's winning like you know you look at it the offer or the bid versus the offer okay so a diagonally to find out like you know where the pressure really is okay there's all sorts of ways of resetting this data here too so just right click and you can reset and then we can make you know conditional resets to schedule it every hour or minute or every day at like 9 30 you know cash open or an oil 9 o'clock etc there's all sorts of ways and and then those there's other types of data there's not only volume okay there's a trades counter so it's like volume in fact the profiles are very similar except their trade events okay it's not the number of contracts is the number of trade events okay so let's say someone traded once for 10 contracts well you would see in this in this volume pro or this trades counter profile you would just see the number one instead of 10 volume profile you'd see 10 there's also quotes counter number of quotes refreshed and why we show this kind of data is because in the high frequency environment they'll we're looking for areas of activity not just volume okay and the intent and possibility to trade in these areas is important okay so let me see I hope that answers your question market maker no for higher we also have the VWAP here you can see the VWAP line this little white line okay so just right click format and then you see the VWAP line right here okay let me put that together back in a profile okay but for a day week etc at no we don't have that because we're we only have the data for the day or since when we opened up book map I should say some people open it up on Sunday evening and let it run the entire week okay and what you can do though is you can you can add a custom notes column here okay and in the in your notes column let's say the VWAP is at 4795 just type in you know weekly VWAP okay and you can style it etc and there it is okay you can also put you can click on notifications up here and enable an alert to you know alert your when you come up to that area and and it tests it or even test before it you can see you can you can kind of get in front of it and offset the alert all right and let me get hide that column let's see kind of got a flurry of questions here so let me let me go through it okay so this move is we're right back let me let me cover a little bit of the order flow first and then I'll get into the questions because it looks like we're starting to get into a high volume again after our break and move to the downside okay we're down here again where we not only where we broke from here as you can see we're down kind of into kind of the main volume profile and cluster in this area here and you can see there's them starting to get interested on the on the bid here at 4765 okay so just below the swing here is where they are and then 4760 is also that's the highest area in the book right now as you can see okay so they want to absorb down here they want to be buyers down here that much we know all right so let me continue on and answer some of these questions yeah I'm not not familiar with to familiar with Sierra charts so you know looking at your volume and market profile this is the way we have it set up in in bookmap all right okay other okay Gabrielle there is no volume value area high value area low or V pock all right I mean the the way that I've been covering the the POC is just by looking at the profile and I know that you know obviously this is going to be the POC right and this is going to be a POC up here which is actually almost where we tested to so yeah Gabrielle your your comment there is well taken I will add that to it's already been requested I'm gonna re-request again because I know you guys are interested in that seeing the value area high value area lows of some of these areas all right let's see market makers possible display the open the close of yesterday you will do that through the notes column okay that's the way you'll do it now there's something interesting about the notes column as well that I want to cover and that is because I think we're gonna kind of slow down here to be honest but anyway go to right click in a column and let's insert a new column right and then we'll right click in that column here and then I'm going to select notes and not custom notes but cloud notes okay and I may have as you would have the link for FT FT 71 if you can just put that into the the questions and then I can demo the the cloud notes and how they work all right yeah thanks Adam so the cloud notes is interesting product here or feature what you're able to do is just on the cloud you can have your Excel spreadsheet and you can have book you can make the changes on the fly on that Excel spreadsheet and it will update automatically within the cloud notes column here in book map as you can see I've got it the download interval here set for five minutes you can make it one minute if you want okay and it will go ping that that document and then reflect the changes in the cloud notes column all right or you can just very simply that way you keep a master copy that's the idea but the if you don't want to do that then what you can do is just use the regular notes column and you know just update it that way okay so what you can do is you can and it's you know it's it's really not going to be I mean you don't have to use the the cloud notes it's a really nice feature but all you'd have to do here is if you wanted to update your notes column in your from your Excel spreadsheet is just import okay just just and choose choose import notes here and then it's going to ask you to find your your was it not Excel it's a comma separated values file and then and then just import it and all your notes will come right in automatically okay all right yeah thanks Adam okay cool so I'll demo this for you guys with the cloud notes and input the URL here okay come on hmm okay I'm not sure if I'm using the correct link okay drop down to down the book map okay okay all right let me try that there we go thank you thank you Adam okay so here here's how one professional trader uses his cloud notes okay so he's got he's got his own abbreviations etc so market maker this is what you do and you know you just import that data or have the cloud note updated automatically all right okay and I can zoom vertically here I can just left click hold and drag up and down and you can see it's pretty extensive notes column here okay there's lots of stuff going on okay and that when you can have alerts set up for it as well okay market maker to show the precise order absolutely the volume etc so the the way you would do that let's zoom in to an area here okay and so and your your point here is well taken let me go back to splitting and inversing there we go all right to a lot of traders they you know it's good to see the the volume dots here and you understand like like for example here is it's all green and we know that that's gonna be all aggressive buying okay and you can see them lift the offer in this area here but you want to know maybe the little more data than that a little more insight well what you can do is you can just use the the show data tip tool here and you can hover over that specific dot there and it tells you the volume okay so this dot right here was for a volume of 278 contracts okay and then you see the price there 47 75 7 75 7 why we give that information is because that's the overall VWAP of that of those 278 contracts so for example if I continue to zoom in here like note how we're breaking apart all of that trade data right and now we have a much better insight of exactly what occurred here okay so in fact this break this is gonna break down as well okay so we're recording every single event look at that cluster and look at that algorithmic activity right here of aggressive buying okay and there's an iceberg order right on the other side okay that's what this iceberg detector is we sit with the red number is on the other side of this they're not showing in the limit order book they are absorbing they are absorbing the these aggressive buyers trying to lift the offer okay and there these these larger players using the iceberg order or hidden order type they're going to be positioning themselves short in this area okay so again like just use the rollover tool and you can see it that way you can also see it another way and that is by looking at your columns data here and getting it within your your chart range all right so so for example all of this volume activity here or let's just go through maybe up here okay we'll just zoom in right and then here here's what really occurred okay we can see in this area here what really occurred and in fact you can see the overall profile here we can split it out okay so we split out that data these were the number aggressive buys versus the number of aggressive cells here okay hope that answers your question yeah I mean well spoofing is forbidden yeah it's not to say that you know you still don't see that type of activity though at all we see it here you know all the time okay well it has to be proven that that's the interesting point here and you know it is software like this to be honest that is allowing SEC or CFTC NFA to look into that and to prove it I mean you need to look for I mean like this is this could be considered pretty classic spoofing type of activity on some of these areas here very high liquidity without the intent to trade but how do you prove the intent to trade all right and do do we know it it was this player related to these players down here okay we don't we don't really know that they you have to link up accounts and you know really you know get into some of the details well I mean that's that's what you know they're they're really if you can prove the intent to trade then I then you've got them right oh of course yeah they're I mean they're adding and pulling and a lot of the liquidity is fictitious all the time but again I mean I wouldn't worry too much about all of that it's it's more about what we did up here okay putting those pieces together in the in kind of the bigger picture of the order flow okay that led that led to kind of you know pretty nice result here and it was you know we we we acknowledge the risk as well and we we acknowledge that you know kind of using the you know auction market theory as well as volume profile to understand kind of the majority of the intent of these traders that this looks like a lot more interest here this doesn't look like kind of spoofing activity okay these guys they look like they're interested to trade to and they did for the most part you know we can see the cluster of volume that that traded down here okay and we can see here that we start to trade into it and okay some polls but you know some of it remains as well okay and so you know we're getting that kind of overall picture right so yeah you know I mean they're they're still they're still here but then some a lot of it pulled to okay and then what we want to measure or to understand for the intent is if they're pulling where are they adding it okay they're down a little lower this also is another clue here and this is just very very objective information if if they're not interested here and they're interested a little lower that's kind of bearish activity right and and we can read it it's here okay all right let's see here what is a mafia this is insane is it possible to have very quick view of activity of market order in a specific price area with a sort of zoom feature back and forth I'm not sure exactly what you're asking but yeah I mean you know if you want to you know you really look at very very low time frames you can hear okay you can zoom in like you know zooming into oh zoom in out very quickly okay or let's go let's go to this 4780 right here okay click on the hand tool hover over this dot use your center mouse wheel reposition it zoom in again okay let's look at some of these trades up here okay and just keep keep scrolling in right we are down at microsecond level pretty quickly and here's what we only see three trades that took place okay for a volume of three so that's got to be volume of one each right if we hover over that dot says volume of one volume of one volume of one there you go and when I want to zoom back out there you go that is that the kind of zoom that you're looking for I mean I zoom in and out very quickly all the time I find it very helpful I think that's what you're alluding to I find it very very very very helpful because now we we can really very objectively look at it and see like you know the commitment and who's doing what but then zoom back out and look at the bigger picture and and it doesn't take much time at all and then we can come right back to the current market okay just make sure that once you zoom in with the we have that hand tool or that move tool on and just you'll have to click back on it to come back to the current market okay and then we'll have to zoom out a little bit here all right okay all right guys well we've been going for about 50 minutes or so because I started a little bit late and covering going through some of the you know software features and components but looking at the order flow and in the same time and how to use the tool together with with understanding the order flow and also the yeah the anticipation in this area here was for some sideways action due to the you know responsive buyers down here and we saw that a lot of volume starting to trade into this kind of volume area where we were before right so I'm kind of looking for it to bounce back and forth here until we'll see something shift but we haven't seen it yet you know so we've been trading between this range here of about 68 and and 80 ways basically 68 and 78 to be honest more majority of the trades here so all right all right guys we'll yeah let's let's wrap it up we will we'll call it a day and then tomorrow will be our last day for until after Labor Day okay but you know ask any questions in support happy to go go through and answer your questions and you know whatever it takes for you guys to start to comprehend this tool how to use it and then how to very objectively read it like we are in these webinars so that you can look for some really nice high probability trades yeah book map works for Ninja as well as a standalone product you can do both whatever whatever you prefer I mean you can only have one instance of book map open but you can use it for both okay that said I just want to mention that it is better to not go through the API of a another platform it is better to connect directly to the data okay so for example if you connect with Rhythmic your Ninja trader platform well Rhythmic offers two simultaneous platform connections with their data feed so you can use Rhythmic for your for your Ninja or if it's Sierra charts that's fine too but then you can also use that second feed for book map and you'll get much cleaner data well not much cleaner I shouldn't say that it it just when it goes through the API of a platform it is you know you're going to get maybe just slight latency and then also if the if the data is processed somehow by the API of that platform it's going to come into book map a little differently that's that's all okay now if you're you know trading zoomed out it's not going to be that big of a deal at all but there's been times where you know we can we can zoom into some specific data fees and we can see you know just small distinctions right but for a lot of you that that might might be really big or or maybe for a lot of you it might not I mean I you know if I don't know what time frame you guys are trading on okay all right guys let's see here that's all the questions all right well let's wrap it up and we'll see you tomorrow okay all right take care bye bye