 Good morning traders and welcome to the book map Live trading webinar. This is Bruce that book map. I will go through live analysis here of the S&P e-many other futures Products we can go through stocks. We can go through cryptocurrency. It's up to you I do want to show you a new product from book map It's pretty amazing. I feel We can filter the heat map According to market by order data for CME group products This is pretty amazing to see. I'll show you some of the advantages that you can get using this product and how you can get it Then we'll do this Monday Tuesday, and that's it this week a no Friday webinar. We will do Jay trader He'll be presenting on Wednesday, but Thursday. No Scott Palsini. It's a holiday here in the US Thursday and Friday, so no webinars So let's go through the disclosures and jump right in General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results All right, so let's jump in here and see what's going on in these markets Okay, wow, that's a nice bunch of volatility and back and forth. Um, oh This is the NASDAQ. Okay, let's look over at the S&P. I Yeah, I wanted to kind of show you maybe some candlesticks. We might do that in a bit I do want to show you though a couple things and we're gonna start off talking about market structure All right, this is such an important part to understand in order flow And we can outline it I can show you immediately why it's important We can just outline structure. Here's a sideways consolidation period. Here's a breakout period in here And then what did it do? It basically accepted in a new structure here. Look at even the retest here It did break out here. It broke out again. It failed to is failing to hold right now Okay, so this is another structure. That's failing. Look at the sellers come in Where are they gonna take it? Well, they're gonna take it down to the most traded level in the previous structure. This is Volume profile that we're talking about or profile trading here. It is the the high volume node here That is retesting right now Here at 3960 now, this is an important level I think it was last week as well around this 3960 3955 and 50s down below. I remember this this level here. So Anyway, we want to see now our seller is going to try to push it through here Or are we going to find buyers supported at this? Important area okay in the in the profile. That's what we need to determine. This is kind of the last hold here For the bulls. Okay, the bulls came in here and moved it higher Usually what we see in the structure Is sideways consolidation? breakout and acceptance and then It will bounce off that structure in here and now we're giving our answer sellers are coming in Okay, so we're looking now for sellers to continue to trade to the other side of this structure So we're looking for a move down to 55 And And then potentially more okay, it's pretty strong selling so not only 55 you can look for 553 you can look for 50 as being potential targets here All right, so we're getting our answer and this is how do you know where to get in? Well, you need to look at the structure in the smaller fractal Area right in here Okay sellers come in pull back sellers come in back and forth in here. We do see You know buyers could have come in right here and moved it higher This is when we start to see the sellers come in on the bottom edge here heavy selling. This is when we're looking for that move Right, so let's suppose you got in here You know somewhere around 58 and a half you would be in it And you would maybe you would even be front running this I like to front run this liquidity by a couple ticks Tick or two down in here. So I would probably still be in this And my my stop would probably be at break-even already All right, so I'm not gonna I'll look for the next one I'm looking for taking some off though here around 55 and a half All right, so anyway, so now we're talking about Structure and we're talking about a trade Management and and setup within that structure an order flow setup here and what we're precisely looking for now We have this structure to lean on Okay, immediately. All right, so we're looking for the continuation to the downside All right, so and it's still holding down here And again, we can look at structure in again here and we're caught where we we talked at length on Friday about different trading concepts Like initial balance Let me show you where that webinar is because the same trading concept is unfolding here That we just talked about in terms of higher time frame structure now We're talking about a lower time frame structure All right, and we're still looking for sellers. I see buyers coming in right now All right, so I would I would have been stopped at a break-even on this All right, it wasn't ready. It didn't do it. It may do it again right now In fact right here looking for sellers here. Let's see if we get them see the exhaustion here Okay, so maybe we get sellers here. I don't see them right now, so I would stay aside Okay, I'm not going to get entangled in this and maybe this potential move up into 62 Okay, so now it's testing our our structure up here, right? So anyway, does that make sense is really quick overview of understanding structure and The volume and liquidity within that structure a very very quick and also we talked about We added a little volume profile in there as well And that this was the area here Yeah, right right in here 60. Okay that we're looking for now. Look what it's doing. All right. This is interesting It can still Fail here price can still fail. Why well we're talking about the high volume note It's actually at 60 hold on All right, so it's actually here. Okay at 60 now we were talking about Buyers put this is our last gasp for the buyers to come in and try to move it back up If they don't we're looking for sellers to drive it lower And through that that point of control. It's testing the backside of that point of control It's like a support and resistance area basically and that's why we marked it up like that Okay, so Let's see if we get more sellers at the bottom edge here. I don't see them yet. All right, but I'm looking for them Okay, we're starting to get a few Okay, so what yeah, it's this is not enough Selling in here to to justify that though. Okay, so just let this one float by the order flow set up in here Is is telling us that well, we don't really have that clarity yet Okay, looking a little bit better a little more selling, but we want to see the sellers down here All right, here we go Okay sellers down into this 57 A bit of a bounce Okay, so it's still kind of back and forth in here. All right. Now here's a pullback okay now Depends on the time frame you're trading here. This is a pretty strong selling in here Okay, so if now I'm looking for an even smaller fractal set up in here I don't see it yet I'm looking for sellers again here or exhaustion on the buy side sellers to come in here I want to see this order book skew as well. There's a little bit on the offer here. All right So let's see if we get our sellers here Hey, a little bit lower would be good same actually same area right 58 and a half or so 58 Don't see them yet So I'm staying away Okay, did this this did not set this scenario we're looking for didn't set up All right, so it's you can see what's happening now buyers are going for that 62 look liquidity up here Lee am I taking profit is a good question. I can see it already. Are you taking profits based on the current structure? Yes structure and and order flow. I take my profits Okay partial profits and then And then try to leave runners Okay, I hope that makes sense so I would have like I said, I would have taken a partial profit down here around this 55 and a half or 55 and a quarter some something like that Okay, just just partial though. I just want that move to work out I'm going with the structure now the structure here has become very convoluted now look look what we got buyers back up above 60 We got a wall of liquidity here, but we're still finding some buyers in here Right. So look, let's let's just put it this way The market is complex We're looking at a specific kind of strategy or understanding here using the point of control And and and who's in control above or below the point of control, which you know, which is just the most traded value And so, you know, there's a lot of trading activity around it On one side on the other side We're looking for volume and commitment from one side to move it away from that point of control That's what we're looking for And we looked at a on the higher time frame here, too Hey, we thought well, maybe it would bounce here last gasp But there's heavy selling in here And then there was heavy selling again Okay, so we were looking for sellers to take it lower Okay, and look at all this mumbo jumbo in here I mean, it's just back and forth and back and forth and we're looking for an edge Okay, and we We thought we had an edge here what we did And we it would have been a stopout at breakeven. Okay, and you would have stayed out of all of this All right, so what now we're looking at bottom edge again down here and It's starting to start to shape up a little bit Okay, I just don't see much in the order book here. Yeah, it looks like they want to it looks like it's gonna do it It looks like it's gonna go for it. I think we got enough. So there we go There's there's the order book helping right on the offer Okay, and they pulled though Okay, so we got a little bit of gaming going on in here and but Still still looking for the move down here. I wouldn't be looking for a position This looked much better This is it could come right back up into 60 61 They're on the bid here. We're starting to find buyers. So it's just it's not giving us that clarity right now All right, so stay away Anyway, we're looking for in this case, we're looking for a directional move outside of these previous areas here Okay, and retest back down to here. All right. Does that make sense? Lee does that make sense as well? Did I answer your question? Can you show set up with icebergs? Sure Order book helping like here here. They're helping on the bid here Okay, they're under they're underneath here. They're supporting it at a higher price level now that what we want to understand is this context They're supporting it, but it doesn't matter if they're selling pressure like we're finding here They're gonna trade into it and through it Okay, and this is the directional move. We're looking for here now. It's unfolding. Okay, and we're still looking for it to unfold Right. Okay. Here's a pullback immediately This is gonna be this is this is pretty tricky stuff. I mean, this could be a potential trap. We're right back up above Where this drop took place Okay, so this could be we could see we see a beautiful stop run here We might see a beautiful stop run up into here as well up into 62 All right, so again, we're you know looking for something that gives us some insight high probability in terms of order flow or context of the traders okay on one side or the other and I mean look at this V in here Hey, there's a little more selling than there is buying but it's pretty equal And that doesn't give us much insight. All right So let's see. Okay. I Hit the like button. Thanks, Joe Yeah, yeah guys if you yeah, please subscribe to the channel. I hit the like button. I Want to Make sure I'm covering the education that that helps you guys the most in fact You know our education is Set up in a very specific way We have an educational course that's on our YouTube page. Let me show you that okay, so here if you scroll down and You go you go down to a bonus materials here View full playlist. This is our educational course here Parts one through four, please at least if you're new in here, please watch part part one All right, and then maybe move on to to part two Three and four but parts one and two will set a very nice foundation for you and Then Then come to these webinars. Okay, we're going to go over the same content in those Courses in the live market so you can trust it. You can put the pieces together yourself and read order flow now What we also offer now Is several other traders? Using book map and using it in very different ways so right after this webinar in another hour and in ten minutes We have Tom B. He's going to go through volume profile in detail and order flow in volume profile So for example, you'll see like a hem cover a move like this down down below And then he's looking at micro Well, they're smaller time frame areas Where if he wants to buy the bottom edge down here and trade it back up into like a the point of control If he's looking for that he's looking for something in the order flow to give him that clarity So it's it's it's not just, you know looking at and it's very very intelligent Looking at your volume profile, but then looking at order flow to give you that edge Okay, the volume profile does the horizontal very nicely It it adds up and aggregates all the trades within a price level and puts it into a profile So you can see these points of control Or low volume nodes high volume nodes, whatever and then now we want to understand the the vertical part Where are the you know, where's the momentum? The the imbalances in here like the this look at this profile in here that looks pretty pretty distributed here Right. Well, we want to we want to read these moves here. Okay, the profile can't do that And we want to understand in these moves like wow, okay, there's some some buying up here in the top edge So this might be a pullback Point of control and looking again for buyers to come in here Now I'm not saying that this is this is not a trade recommendation, but it's a potential strategy Okay, using your volume profile and now using order flow and understanding where those transactions are taking place That is not shown here in the profile. Okay, so we're looking for it. We're looking for more green dots up here And then a move back to about 60 or so. So here we go Let's see if we get it. All right again, not a trade recommendation and now What Joe is asking about in terms of the book How do we get an advantage in the book? Well, are they on the bid here? They are Now the reaction though is we want to see them on the bid here wanting to buy Maybe they get filled But it's completely absorbed Okay, and then we want to see buyers green dots aggressors move it away from this bottom edge here That's what we're looking for in that scenario Okay, and you can see that's it's the exact opposite is happening here Okay, so we're actually now if you want to look at your volume profile, you're looking forward to drive away from Your point of control not to it. All right So let's see if it can accept lower and drive down into our 50 level here 51 or 50 Looking for sellers right here right now and then the move down into 51 and 50 Okay, now, how do you get involved in something like that? This is where you got to look for your pullback strategies and your continuation as simple as that You've got to take risk at a certain point where where do you if you want to look for more Kind of probability. It's in this area in here because you can see the sellers coming in Okay, if you're looking for taking a pullback trade in here Well, there's nothing too much in the order flow. Maybe a little bit of exhaustion right in here Maybe you could get in here Right, but there's nothing really to tell you On this pullback. I mean buyers could have come they pulled this liquidity buyers could have come in hand over fist And this would have been all trapped volume down below 54 and a half Okay, but we weren't looking for that. We were looking for sellers down here So how do you how do you your pullback trades? Well, you know Reading the order flow in here basically you you this is just kind of place in your order and Looking for this to to unfold If it doesn't then you get caught up in this and it moves very very quickly against you You just get stopped out quickly. Okay, it didn't do what you're looking for The higher probability or at least what gives you more confirmation would be down in here Looking for that. Okay. Now, it's a horrible entry but you can also see That you were looking for that and it never went against you a tick Okay, so And now now you're getting a pullback here, but it still hasn't come back to this 52 and a half area yet It was about to right now, but you would have taken some off already, right? We were looking for that move into 50. I went way down below it too is 40 47 and a quarter So so anyway Does that make sense? We're talking about order flow again We're looking in here for mean reversion due to the profile and then we started to note this and we're going We're not looking for mean reversion anymore. We're looking for move away from the High-volume node and this is exactly what it looks like when it moves away from a high-volume node This is the kind of volume you're looking for heavy selling moving it away All right, so we've already gone through a lot this morning and I don't really know where to take it With the structure that we're talking about here That's what we started off with with structure and what I wanted to go into With structure was this new product that also outlines structure really well all right, so let me Let me get to that and Let me see here if there's any more questions. Okay max. Well Stops and icebergs The way that we're using I'll answer this and we'll get into structure with the heat map trader map pro Look at this this context right here Okay, so this we're gonna probably see a retracement or a Move back to point of control here or high-volume node And we have some other things in here to support us on that idea and that stops and icebergs Okay, so we see pretty big stop run here In this move. Okay. It started right here right in here Okay, as it broke this level stops are being triggered and then you can see it it all the way down to here It's still there's lots of stops being triggered and We can we know that when a lot of people are getting stopped out. They're not entering a position They're exiting a position Okay, now we're assuming that are getting stopped out. It could be a bice or a cell stop to enter All right, we don't know that element but typically it's a stop run for exit and We can also kind of assume on that move that if people are getting stopped out like that They're they're exiting the market. They're not entering and so this is not really It potentially not a meaningful move Now look who's on the other side of the trade here. These are buying icebergs see the move up on the green I'm on the blue line here. They are buying. It's not a whole lot. Yeah, it's not bad Actually, it's like about 700 or so that are that have been buying from this point actually here It went against them a bit from that point on Up to even here they are still buying Okay So now we have a context In this move here. It's heavy selling Well, if we don't see heavy selling coming in again, okay, which we might we don't know that But we do have a context if we see heavy buying coming in And we start to see maybe a smaller structural change like right here We'd have heavy buying back up above 52 or 52 and a quarter here I would like to see these guys pull that liquidity and for it to come back up into not only 55 But back up into 60 Okay, or this high volume node here 57 All right, so we're going through the different scenario on the higher time frames But let's take a look at the lower time frames here What does it look like in the order flow and that's where we're going to get an edge Okay, so they're on the bid here. This is good here now. We're seeing our buyers here And they're starting to pull a little bit now they're back in Okay, so we're watching this area this little structure here very closely Hey, this little structure And I don't basically I see more more of an edge on the sell side at the moment here But let's see if we get a move and a shift away and we see buyers up here now Why I why I thought we we had a bit more on the sell side in the in the move Potentially lower here is because look at the bottom edge of this and where it's auctioning Look at the top edge in here and whereas and how much is auctioning up there Right, so we see more sellers here and we're looking for them to trade here And then potentially break that level and get a move lower now again This is a stop run here and they're still buying icebergs here. All right, so We look for the move to continue the order flow rules the the the picture always And but the stops and icebergs are confluence So and we're putting that confluence together. What if up here? Okay, right in here where this took place here. What if we get by big green dots and buying up there? All right, if we do Then we're looking for the move higher Okay up into these areas All right, so here they are here they come And we're looking for that. Okay, so in the first stop is right where it is already Okay, so I was just drawing those in before this move unfolded, but this is what we're looking for Now we're gonna likely get a pullback to here Okay, and we're looking for a lack of selling here. We're looking for the book to support it Okay, meaning that there's more on the bid here that this kind of color here. We want to see it up here And that's what it means Looking for that support and see how if we don't get that support it's very easy for sellers to do precisely this Because look where they traded it to down to these guys down here Now we're getting a bounce. So what we're looking for in terms of them supporting in the order book is for these Orders here heavy Limit buying to be up here Right, so sellers can't do this and move it away quickly. That's that's that should answer the question I think Joe much more precisely Okay, what we're looking for now see how we're back up above it though Now we're back to our similar scenario here, so we're looking for our buyers We're looking for them to support it higher here in the order book and we should get this move now up into like 54 55 All right, and now we're looking forward to trade back to like where it initiated here on the sell side And I'd like to see it come a little higher and test up to 57. Okay, it looks pretty good I want to see you guys pull or find more buyers. See see look what happened here in the order book just it completely Changed changed that dynamic here one This is this is again why we look for more support up at a higher level Because again sellers can do this and this one's kind of nasty here because not only did the sellers come in like this Look at them follow down In the and they're offering at lower levels in the order book with liquidity here Okay, so they're you know trying to kind of skew price to get it to go lower Okay, so what still we're back up here again. We're still finding some buyers So let's see if they can push it through 53 and a half here Okay, and then on up into our 57 level All right, so anyway guys like there there's the kind of You know understanding of the context of the order book in here and in Joe's question about understanding what what it means by support or you know Supplier demand in here at these higher levels and then the context and relationship between the the aggressors buyers and sellers in here And you guys can see that very easily here Like if they're not going to support it up higher sellers can come in and do this and they just bring it down to here This liquidity and that's where it bounced Okay, so that's why you know we look for the higher probability Where we're looking for them to push it through where we see them on the bid and We get a clear Idea or more likelihood that it will trade higher Okay, now they're coming back in sellers and Back down to 50 Okay, and through it. Okay, so anyway Yeah, likely I would say you know We're gonna go we're gonna hit hit this liquidity at 48 for to 46 46 and a half or so maybe 45 but It's just not as likely look look how it's still, you know kind of dark up here We can see buyers fight it and come right back up to 52 and maybe 53 to 55 Okay, so it's just not Giving us that kind of clear clear Insight to the move lower Did I answer some of the questions max about stops and icebergs? That was just one way to read them There are many different ways right the beauty about stops and icebergs in here is It's just data so you know, we're capturing it and we know like this is pretty true that Those that are using iceberg orders are larger players There's no need to use it if you're a smaller player Maybe they may be smaller players are using it, but they don't need to be right a larger player Has more need than a smaller player to use iceberg orders And who's using stops will we know that? You know us as retail traders will get stopped out look for something high probability and jump back in If it doesn't work out we get stopped out again. We look for another opportunity Larger players don't trade like that. They they will be absorbing Really large players. They'll just be absorbing at their price levels and that is very nicely Displayed when you look at stocks, and I don't have any stocks up here. So hold on Let's look at Tesla Okay okay, so This is this is where we can assume that about larger players look at 930 cash open here Lart these are larger players with their limit orders. They got filled here price went against them. They got filled here as well Price went against them. They got filled up here, right now We don't know if it's the same players in here, but you know in in stocks You can see how the larger players are You know how they're trading They're they're providing liquidity at these levels and just waiting So as price comes into them You know, I'm assuming that they're getting filled in here and they got what they wanted So then we're looking for if it keeps on going against them Maybe they're just getting more in more and more and averaging their cost Okay, that's when you start to get into kind of like, you know, larger players using VWAP strategies and end of the day You know strategies with in relationship to VWAP or whatever it might be But they can withstand they're building positions It's very different trading. They have the size to be able to do that We do not okay so That's where you know, we cannot assume that the smaller players are using stops So we have that now a relationship to larger players buying smaller players getting stopped out All right, so Now now we look for another scenario here. Okay. Look. All right. So buyers starting to come in Okay, so let's see if we I don't see much in the book here But going with stops and icebergs in here. Well, then we'd be looking for some support here We'd I'd love to see these guys at like 48 and 47 move up their limit buy orders Up into this pocket up in here. Maybe around 50 I'd love to see these guys start to pull and I'd look for green dots in here. Okay big ones And then we're looking for that move and back to where well back into these two points in here Our 57 and our 60 All right. Now, that's a that's just one scenario If we're looking for that kind of mean reversion trade And and why will we also have stops and icebergs supporting it? They support that idea. So that's another way to look at it max. There are many different ways to understand it and look at it Classic man, you should go to Tom's channel in the text channel there. There's PDFs in there There are no time frames here Daniel in book map This is just let me show you the three elements here on the chart. They're very very simple and straightforward First is the volume dots And then the heat map and then this is this is the structure here and this is the price It's just streaming best bid and offer over time This offers more transparency than Candlesticks there's no time frame in it, but you can look at the vertical dotted lines in here and kind of a line You can also use you know and see that we're talking like five minutes now between each vertical dotted line if I zoom out more Then you can see it's now an hour between each vertical dotted line All right, so that can divvy it up. You can also put a candlestick chart on here if you like here And you can also use this tool here this time slice tool Let's select 30 minutes now the way this tool works. We just selected 30 minutes, but you can see that There's still there's five minutes between each vertical dotted line All right, so What's up with that? Well the way it works with the time slice tool is we selected 30 minutes of a sliding window of complete data in here So it's a it's an exact window here of 30 minutes of data from the left-hand side That's continues to slide out as new data comes in here on the right side and it's always equal to 30 minutes Joe initial balance low at 47 and a half or quarter and lots of liquidity there coincidence maybe you know we Talked about the initial balance At length on Friday, so And and what it means what what is the kind of essence of it, right? And is it a coincidence? Well, no, I mean like yeah, we just see buyers are down here Hey, we see sellers here is out of coincidence too. I mean there's actually more selling up here Okay, or you know limit limit sell orders up here. So and where are we right now? Well, we're right in the middle of the range so That's that's that's all it means right now now if you're trading you know some sort of Balance after the first hour of trading and you're looking for insights on that well You'd be looking at the same things we've been covering. You're just looking at the structure Being this one hour period here from 930 to 1030 and that's it And the reason that you're looking at that structure again This was covered on Friday in detail the reason you're looking at that structure is because that's where significant volume takes place in That first hour of trading so we're going to look to see who's in control after that Who's who's moving price and where? Okay, so now this initial balance idea we can take it further This is like you can consider it. This would be low of the day down here if it broke it You might treat that as like a multi-day a break of a multi-day chart You know, it's the same idea Okay, that you have a structure and it being broken. So what are we looking for then in the order flow? well, we're looking for heavy selling right here right now and We're starting to see some selling But again, we don't really see any kind of shift in the order book here Okay, we're looking for these guys to maybe lower and these guys to maybe pull and we have a nice shift in the order book along with a volume Event that supports our our idea. Oh, sure. You're welcome Lee Okay, so I think I've answered most of you guys questions. Okay. I want to get to this tool guys I'm in love with this tool. I think it's see it. Look at the shift now. All right. So now what we want to see something's happening Now what we want to see is what traders think about it? Okay, high high liquidity in here all of a sudden 195 contracts 129 here and then they didn't even trade. Okay, they pulled All right So what's the gaming the market trying to make it go lower so they can get filled and then have the move go back Into the mean whatever We're gonna read it. Okay, so we see the heavy selling coming in Okay, that's a nice stop run as well And let's see if we can get a continuation on this one down to 45 or maybe even 44 No, we're not gonna get it. All right. So retracement back to where it came from All right. Let's see. Let's go over This trader map pro guys because I want to show we've been talking about structure and volume and heat map Volume profiles time frames, you know many many different things In here, I want to show structure via this new tool. Okay, this new tool is called trader map pro And it is showing you Liquidity That is filtered Okay, it's only it only works with the MBO data All right, so this is only CME group products and you'll need to have rhythmic data for it as well There's no way to get around it All right, so now What's really interesting about this product here is it is filtering here here. We'll go to we'll go to the Let's go back to the original instrument I made it from which is the ES and let's go to the add-on here We'll scroll down to trader map pro Now this is included with your global plus subscription for now But it is it is a part of the MBO bundle. Okay, which makes good sense because we're looking for Well, the stops in iceberg only work with MBO data as well So it's very specific indicator here. It only works with CME group futures and rhythmic data All right now one of the studies we have here is this one here. This is the one I want to go over We made a copy of the instrument And then we added a filter in here and it's to keep the order sizes In here the volume within the order size has to be at least 10 or The liquidity in the in the order size has to be at least 10 or 10 to 100 Okay, nothing more nothing less and we filtered it So what that means is if we take a look at the instrument here now that we created a synthetic filtered instrument look look at even the spread in here Widenes out and narrows because if we zoom in here and we look at it This is where there's 10 lots here here. There's 20 and there's nothing in between that is 10 or more Okay, so that's why we see the spread like this This is really interesting because now we're starting to see market-making behavior or larger players may be gaming the market and Look how like this this player in here Is providing some liquidity then pulling it away very very quickly Then providing some liquidity and then pulling it away really quickly Okay, so where they're telling us in fact that well, you know up here at 52 and a half is you know an area where they seem to be want to be a seller And then they'll provide liquidity every now and then Okay, now what about on the bid? Well, they they've been kind of They were here and they provide liquidity and this is higher time frame liquidity. You can see it in the heat map as well And they got filled in here. So this is getting really interesting. They got filled in here, too So now actually and now we're getting our green dots So I am looking for now due to this view with the filtered data I am looking for them to trade to 48 and three quarters and then to 52 and a half Okay, based on what we're reading in here with this heat map pro trader map pro Okay, so let's see now I'm looking for just the move to 48 and three quarters Can buy the aggressor? Okay by the green dots Now they're they're pulling see how they're providing the quity and then pulling into adding it down here So if they come back down in here, this might be a good area to consider an entry Because they're they're providing some of the quity maybe getting filled a bit, but they're they're pulling it away down to here okay, so this is kind of like larger time frame supply and demand or Not larger time frame larger player Okay, the trader map pro can identify that and do that do this filter for the amount of contracts in the orders All right, so still looking for these aggressors to come in and trade it up to here 48 and a half And we're not we're not seeing it aggressors are just not not interested yet and doing that So now look at these guys have actually kind of pulled their liquidity now They're at 45 here instead not down here at 42 Okay, so let's see if they get filled here So have any of you guys like I mentioned this before I think on Friday when I showed this Have you traded during times of like, you know a limit up or limit down? And here so they are getting filled in here. So this is getting really interesting now We want to see Buyers back up above this 45 here. Okay. Look at the look at the book Okay, starting to show some size here at very aggressive short short term High liquidity close to and on the best bid and offer or best bid now We're looking for aggressors and the move right back up to now 47 and a half and then maybe 48 and a half Okay, let's see it buyers. You've got see how they've got a clear path in here This is what we were just looking at before as well They've got there's not a whole lot of liquidity in here So they can trade it right up to there very very quickly the aggressors can right? That's what we're looking for for them to You know Get filled in here Which they are and then we're the buyer is getting filled in here Which we can see at 45 and now we're looking for the aggressors to They pull the spread they're up here at 48 and a half now So we're looking for aggressors to come in here and just zoom price up to 48 and a half Okay, this was very similar to what we were looking at earlier. How if there's kind of dark in there It's easy for it's easier for buyers to lift it up into those areas Or let's say they trade through this liquidity here, then the next area is down here And it's dark in between Right, but right now we're looking for the aggressors here and it's just we're not quite getting it yet We're not quite seeing them here look pretty good And we're right back down. All right, but now they're still supporting it though on the bid. Hey, this is the support We're looking for now. We're looking for our aggressors. This looks even better Let's see it buyers. Let's see the move Okay, it's still looking for them and then looking for the breakout up into 48 and a half Okay, breakout. I mean our move. I should say Okay by understanding the players in here that and they're filtered Okay, the larger players have been filtered. So we understand where that larger liquidity is by these larger players Hmm Yeah, just not finding those those those buyers. We did it was looking pretty good Still might get up there, but they're Taking some time here They're getting filled at 45 and a quarter Still okay, now we're getting a shift in here. Let's see if what what unfolds here A lot of times we'll see this as well with this trader map pro. There was kind of a shift It starts to trade through an area and then they pull that liquidity on the bid They were getting filled in here They pull it and now they add it back down into that previous area here, right right in here at this 42 In a half and in a quarter It's really back and forth. I mean you can see on both sides here Anyway, I'm still I'm still hanging in there kind of waiting for these these buyers try to reach back up to here That would be the first stop due to the larger players And that's that's it just that right now based on this view here Okay, 48 and three quarters. All right. So anyway, that's the read using this trader map pro At the moment the other scenario would be for it to trade back down here And then we will see these guys maybe switch it up these larger players And what that would look like well, we'll find another example There was kind of doing it in here And I thought maybe those sellers would hit down to this this liquidity here, but they're still supporting it Tough day indeed. I agree classic man Don't trade if like we've stayed out of a lot of trades Right So there's our move guys and and and now I want to see them kind of push it through that Let's now what this behavior is going to be like is now they'll support it on the bid here Higher and I want to see these guys here at 49. I want to see them lift the offer up into 51 Or maybe even higher maybe 54. Okay. Now. That's what we're looking for Okay, and they're starting to do it. See now they're up here at 51 and a quarter Right. So if the if the buyers want up the aggressors want to meet the sellers. They're up here So yeah, classic man. I'm very seriously like don't Look for that higher probability trade and just wait Or higher probability outcome is going to be when you have the the players in line with the direction you're looking for and And then it's it that's where the discipline comes in and we went through it many times we're like well, we're looking for this and and then getting in and it's not a trade recommendation, but just getting in and writing it to a Target taking some off moving the stop to break even and that's that Okay, so anyway the Then then Either we we take some off or we get stopped at a break even Okay, but at least we started to get the move in the direction in the correct In the correct direction Right, but that was because we we thought it was more likely to unfold Due to the order flow and it's all due to the order flow just meaning that is the participants that are telling us Okay, where price is likely to go Okay, now see see how they're pulling that liquidity and they're up here at this 51 51 and a quarter Okay, now they're they're pulling it on the bid and they're down here So maybe maybe sellers will take it down here, but likely this the move is going to come up into 51 and a quarter here Okay, this took a while to unfold But this is what we're looking for Right now what I wanted to cover in here is like this and this is the entire day I have in here well since 7 o'clock this morning and we're at 11 o'clock now but look how this Trader map pro is kind of providing us a very interesting structure Okay, that we can use And it's it's different than looking at this the ES chart and in general Okay, because this is showing all the liquidity all the different players in here, right? We're now we're looking you know at all the different You know one lots and two lots or whatever here in this one We're only looking at ten lots or greater up to a hundred and that's it very specific and It's providing us a nice little structure and here it is so we can see the Structure up in here and you can see look at even the best bid and offer Creating that structure and then the break of it and then the you know back and forth at the cash open here And then we see the break in the move lower here We were looking for that into 50 and then it was very choppy in here It just broke lower again down into 45, but let's just zoom in here and look at the structure There's a nice structure very nice structure here and here okay from this trader map pro another one right here now This one's a little skewed in here like it kind of It's kind of overlapping a little bit Okay, like that And it gives us a little bit of insight at least on the buy side Maybe maybe you can kind of come up into here, but more like you know 53. I think Okay, so I'm looking we're looking for the move to the top of the range in this previous structure here because we're already it did not accept out here And it's we're back into this previous structure So we're looking to the other side of it to be tested here Okay, now we got to get through what? Point of control right here and it's trying it's trying to Right this is this is what we we started with that webinar like typically we look for it to fail up here And to go back down and then potentially continue to trend The last gasp is the point of control here at 50 Right right there 50 and a quarter if if we see more selling coming in here And then we're looking for that continuation back down All right, if we get more buying back up above it We're looking for the other side of the range and then you know potential reversal as well Maybe up into 60 or 57 and then 60 Why did I set the max to a hundred? Good question. Um, I should have said it to a thousand Lee But I just set it for a hundred I Showed this to Scott Balsini the other day and he said well, why don't you just make it a hundred to a thousand? Well, we can do that. Let's do it. In fact, let me so what we this is how you how you um, I Can do that go back to you have to go back to the original image okay, uh Or the original a chart In instrument then click on Configure add-ons here trade or map pro click on that and then click click on create now You can see I have two filters up here Right now. I'm gonna add a new one. I'm gonna create a new instrument copy here Okay, and we can give it a name as well and we'll call it 100 100 plus all right and that's what we're gonna name it Okay, and then where is it? Here it is. Okay, so we just created it here and Then let's add a study now to it and I'm gonna add in the order size filter here and We'll just input it here 100 And then to 1000 you got to put in a number here. I mean make it 10,000 Here doesn't matter right Now we'll click subscribe and let's go to it right here So now the way it why Scott wanted to look at this is Scott Scott is That's funny. I mean he was such a larger player and you know, he just said well, I don't want to look at 10 I mean those are small fish It's like, okay. We'll put in a hundred Just to I think it for the demo purposes. It was it was better to look at Ten because we'd see a little more action right now you can see but like the filter between These 100 loss look what they are. Well, they're down here at 40 something 41 40 Yeah, 41 or so and they're way up here at 75 with 228 loss down here and there's a hundred lot down here as well at at at this 41 area or so and prices just smacked up. Well, it's not right in the middle But it said it's at the lower end of it here And now you're not you're just not going to get much price action in here So anyway, that's why we I filtered it for those numbers Now, you know once you set I gotta Explain a little bit about this once you set this up This is MBO data and you cannot get backfill for the MBO data Okay, unfortunately Stops and icebergs will not work in this either because it the data is being filtered therefore your stops and icebergs would give you a kind of Filtered data and it's not going to be helpful. So keep your stops and icebergs on your original Image or instrument and then on these filtered you got to take it off Okay, you can look at CVD and other studies, but MBO you cannot look at All right, we may change that in the future and now, you know, basically what I was going to drive at here was We don't have much data in here So now come up here and Click file and then save your workspace When you open it again, it will have this filter it will it'll pop up Right at startup. So you will have all of the backfill data as well all right and Like like in this one here Like I have data going back to 7 o'clock. That's when I opened up my book map. All right Make sense Guys any questions on this? This is a really great tool. It's very very powerful Okay, you cannot trade from the chart either which is unfortunate. It was my first request With the development team is that can I trade from it? Because I just want to look at this Basically, I thought it was that powerful, you know, like they're they're telling us that this is where they want to deal up here Right here and they're back here and they're just starting to transact right now Okay, and we're still looking for it to go higher other side of this this edge up in here Right. So yeah, this this edge here and now maybe let's just zoom out a little bit more Yeah, maybe like maybe this kind of edge up here, but there's not a whole lot up here So maybe it has to kind of test the bottom of where the bid was here at 55 Okay, it makes makes sense to me. I can see the drop here at 55 So maybe we see the buyers test it up to there Any questions on this? Let me show you more about it Okay, go to book map calm And then click on the more button here go to the knowledge base Hey, the knowledge base is the go-to for everything All right now that'll open up the book map knowledge base and then Then now you're in the in the not the user guide section. We want to be in the add-on section So click on that And then in here Trader map pros at the bottom here. So click on that Okay, and then you can read about it in here. Here's a video that we put together on it All right, the video will it's about six minutes long or or so and Yeah, it does not work in Eddie does not work in replay mode either So be aware of that. It's very very specific thing and Yeah, so anyway, click your data during the day and It's definitive for now only Eddie. I don't know The there's reasons for it and it's it's a it's a copy of the instrument And yeah the MBO studies like Like I said, those cannot be it has to be in real time and then the Replay mode, I'm not sure what the limitation is. I think it's just because it's an instrument copy Let me get back to YouTube. Oh, let me get back to the explanation here. Okay, so You guys understand what it is. No, that's not it Yeah, here we go, okay So anyway, you can read about it here the download is right here. Okay, so if you have global plus Just update to the latest production version. I think it's billed 42 7.3 build 42 And then just download it here and install it and you'll be up and running Okay, watch the video Read about it in here and then put it together Add it and and start playing around with it. All right now You can also see it on the bookmap marketplace if you go to bookmap.com click on the more button And then under marketplace here, we'll go to MBO bundle right here. Okay, click on that And then it's in here. You can see them in here This is what you're getting with that MBO bundle You get the sub chart for the stops and icebergs you get the icebergs on chart You get the liquidity tracker and now you get the trader map pro So we're adding more and more value to this bundle and it's the same price as it was before Okay, so it has really nice value now Right now, like I said, it's free with any global plus subscription, but this is where it belongs in the MBO bundle plus trader map pro you can see here It makes sense and it and Yeah, you will need to subscribe to this in the future to get it I would Recommend you guys since you if you have global plus just if you don't have global plus maybe try it for a month and then Try this heat map pro or trader map pro because There's something really powerful here I'm still kind of figuring it out Myself but we saw this kind of move and revert potential reversal here just by the order flow of the larger players in here Okay, in the way that they were providing and pulling liquidity and then looking for those aggressors to support that idea And we did get the move right now. We need to look more and more into it to make sure that Some of the things we're reading in here Becomes that higher probability outcome or or look or understanding that this is the behavior And if these guys are going to pull and add liquidity up here We're looking for those aggressors to go for it and in this case they did okay, so now we're looking for the You know look what look at the range we're in does it make sense absolutely at least it does to me They're providing liquidity up here and they're providing liquidity down here Okay, that's where we even see it in the spread. Okay, we can see the larger players. There's liquidity at 48 Also a little bit down here now at 47 and then they're down here 41 40, etc All right It's really guys. Yeah, great new features. So I hope you play around with that and enjoy it Let's go over What I wanted to go over in this was the structure that was the most important part Okay, because we're really really getting into some some great stuff in here being able to read the structure And By larger players now Okay, so here they go they're going for that move right And the next level of structure was well is the top edge here. It's kind of a zone I mean like I I like this one here because of the bottom of the of that previous Range here Okay, so this one here. I like that move into 55 We also see it here though. This is where they were providing liquidity on the offer previously It's not that strong though. It's not as strong But yeah, maybe the move is is to we zoom in here to 54 to 55 Okay, this is the top of the range here and we're looking for it to Break and trade up into those previous ranges up in here Okay, where they were previously providing liquidity now This would be where they were on the bid providing liquidity now We're looking for them to be on the offer and I don't see them In the book so it might even go right through that and trade up into this liquidity up here 60. All right So let me let me know if you have any questions on this is it easy to upgrade from global. Yeah, it's really easy um Lee just just log into book map comm slash portal and then You'll see there's upgrade buttons in there and just upgrade and select global plus it'll prorate it so that You know, let's suppose you're you've two you're two weeks into your global subscription It'll it'll credit you for those those two weeks that are not utilized Okay, so you'll you'll see it Less than 99 it's not like you're forfeiting those two weeks, okay Sounds good. Let's see here Thoughts on using Best bid and offer on the original to overlay. Yeah, you can do that. So it's in the video In fact, I've got it here as well. It's this is a funny Kind of fix So if I zoom in here, I actually do have best bid and offer here Okay from the and then I have the the trader map pro best bid and offer Okay, trader map pro is the wide one and then the best the real true best bid and offer is right here this other green and and Red line here. It's a little darker Okay, so and now how did I get that on there? Let me show you I go up to add on configurations Okay, now I go to this up I have to be in this instrument here the copy and I'm going to add an add-on to the copy Which you can do you can add, you know other studies. So Let's click on It's right here cross BBO. So we create we created this a while back and You can look at different best bid and offers on different instruments So I could look at best bid and offer on any of these instruments listed here. I chose this one Which is the the ES? Regular contract Z2. It's not a filter or anything. It's just the regular contract Okay, we can also look at last trade if we want click that and you'll see the the white line here is the last trade and That's it. Okay, so you'll find the the same same area for the On the knowledge base look for cross BBO. It's right up here if you want that click on this and you can download it in here this is free with Seven any anyone with seven point three or higher so global global plus as well as a digital plus this will work All right There's a video on it as well I don't see it in here But it's on our YouTube channel under features and components All right guys, so this is worked out pretty well from this trader map pro. We're looking for that top edge Where they were providing liquidity before and and it seems to be going up in that area You know now we're kind of in between here They're providing liquidity on the bid down here at 51 and three quarters and they're up here at 54 and a half And we're just kind of in between these two areas of high liquidity All right, so anyway, that's the read using this trader map pro in terms of not just The read of these larger players providing liquidity but in terms of structure how we nicely could outline the structure based based on their bid and offer Okay, and that that's what I really wanted to go over. This is a nice way to kind of mark up some of the structure in here Okay, and market structure. We know is so important Right instead of looking at pure price action and structure. We're looking at market maker Behavior in the structure. This is this is price action structure here That we're looking at okay, if we mark the way we've been marking it up for years Okay, we started the webinar off talking about that structure Okay, this top edge as far as it went and then you you volume profile guys here. Well, that's a low volume profile there Or low volume node. It is rejecting and trading right back down to a high volume node Yeah, holiday and Nomad Holiday trading can be different than normal trading for sure it You know it I think it just it's always like the answer is always it depends Sometimes larger players are there and they're moving the market So we're just looking for when when they're doing that Now we can look at you know book map and we have that kind of relative volume relative liquidity in here using the heat map and the volume dots And you can still look for the same moves. It's order flow is order flow. It's just You know less likely that they will hold Typically typically like again, it depends. It's always that it depends But and it's and the answer is always it depends and it's it's contextual. It's it. What's the context? Because let's suppose like, you know here heavy selling came in and rejected out of this the slow volume node All right, we're here. We're right back to it here where it rejected heavily Well, if we get buyers back up into it up here at 53, I Don't care. This is low volume node or not They'll likely trade right up into 55 and maybe try to get to that 57 and 60 that we talked about beginning of the webinar right, so it depends if We get a lot of buyers To trade through that area if we don't and it comes up here and it rejects and we we see exhaustion and we see sellers starting to come in Yeah, we'd be looking forward to trade right back to 52 and 50 Okay, and then maybe lower Okay, and maybe it would reject down here feel 48. Yeah, I like volume profile. I'm just not a I Think there's some limitations on it and use it for what it is and You know CVD is like the same way. So look at this see the buying really ramp up here So we're looking for them to trade into and through this low volume node. Okay, that's the scenario Okay, now we're looking for these to see these guys are gonna get filled in here Because they're gonna sell the hot the low volume node Right now we're looking to see if we get a bunch of sellers. I would anticipate okay I would anticipate these guys to stay in the book on the offer and get filled and I would anticipate There to be some sellers in here Selling this area right now. Okay. We don't see that right now. We're seeing aggressors come in now. These are stops, too Okay, now. This is where like you have to be very careful about your volume profiles Because I've seen we've seen it so many times it does not matter If this is a low volume node It's about the context of the traders up here because a lot of times those people are selling it in here right now Okay, and maybe a lot of retail traders are selling it in here That's hitting a low volume node. It should come back down into to 52 or 50. Okay. Well, maybe it will They're on the offer here. I'm not seeing buyers here. So that bodes pretty well for it Now if we come back up here and I see a lot of buying though these all of these watch this All of these guys Are gonna be stopped out up into our 57 and 60 level Okay, and it will slingshot through that low volume node Okay, and now they're on them on the bid here. This is see how there's they're supporting it here on the bid They're starting to pull on the offer. Hey, we're starting to get some buyers Here and here in fact, we have a p-shaped profile into a low volume node Anyway, guys, I'm just trying to go through and and we're just reading the order flow at these important levels And that's what gives us the insight and it's not an avocation of one trading plan or another We're just we're gonna read the order flow And then look at the higher time frame levels as well Let's go back. Let's take a look at our 100 here And I'll add the best bid and offer on this through the Cross BBO here That's where is it here? Yeah, here it is There we go Look at the behavior of this is just cracks me up Look at the behavior of some of these larger players in here with 100 They provided liquidity up here for a bit then they pulled it away down to here So interesting, huh? See how they they pulled add it up here and then pulled it again and added down there And then they did the same up here as well or here you can see that high liquidity in the heat map here the same in here so You know, you can see these players doing the same type of things But this is these are higher you can look at this in terms of market structure as well Look at your 40 level. Look at your 75 level As well, that's where the larger players are with these hundred lots or greater So these are gonna be important levels Okay, or something to note at least And we'll see if you know when price goes into those areas Okay, Lee sound sounds like yeah, you got it all set up with so you can trade using that cross BBO. Yep, great Crewed is down 5%. Okay. You want to take a look at it? Sure. All right, let's jump back to the ES here Just kind of curious kind of struggling through that that low volume node in here Okay, it is selling off. Okay, it did reject but it came back down and tested here It might we might get another attack here by the buyers Let's take a look at crude You yeah, you are right Boy, we should have looked at this earlier That's so that's so that's a huge sell-off So here's the cash open and crude 9 a.m. And boy it sold off until just just 945 or so And it's still going lower You can use this trader map pro also on crude. Let's do that. I Haven't I haven't done that before so Select crude and then we'll go up here We'll select trader map pro Create and add a study for our filter here now actually what I'm gonna do. I'm gonna do another filter first Right. This is this is why I'm gonna do this filter and we'll go through one of them in here at least Or you know to overall distribution of orders by size. Okay, so let's let's just check out that one first And we'll hit subscribe Okay, and then here here's our chart here. Alright, so now this chart is very very different Than what you typically look at here In book map and why we came up with this chart. So this is showing lot size here Hey, so these are on the on the offer and these are on the bid down here And then zero is right in the middle Okay, so obviously there can't be anything at zero, but the number of lots that are you are Number of are the size of orders here are number of orders. I'm sorry Number of orders they're using one lots on the offer. We see it By far the vast majority here. So about, you know, 13 to 1400 In here everyone using a one lot on the bid. They're about almost a thousand in here 950 that are showing on the bid. Okay, here's two lots 113 here's two lots over here. Right. So you understand what what it's showing here now Why why do we want to display something like this? Not only to get over the the fact that in a cocktail party that oh, they're mostly one lots No, we you can also look at Um Filled why you want to filter for something so we'll zoom vertically a little bit. Okay, five's not bad for crude Right. So here's our five lots here. Here's our 10 lots up here There's 26 and there's 71 here at five Okay, well, what about on the on the on the bid here? Yeah, five there's 14 here and the 10 there's only four so there therefore I think you know I want to filter for five. I don't want to filter for 10. That's too much For this instrument for me, right? So I'm gonna You can deselect it here Or I'm sorry close it here if you want But you can also go back and close it over here Trader map pro and then unsubscribe from it Okay, and it now it's not there But we can also come back in here go to trader map pro uh, and then this is This is our old study right here. See this one right here So to click to close out your old study you you got to close the window here So it still remembers your old study. So now now we're back to where we were Okay, so let's create a new one Uh, and then we'll call this um You know five lot Uh, and then we'll add a study Okay, we'll go from five to Well, let's just say a thousand And hit subscribe and we can close this and we can go to it here. Okay, and let's add also the, uh Best bid and offer from the cross bbl Okay, we're all set All right now, unfortunately, I won't be able to read too much because like I said, uh, this this does not have backfill data Um, but we can read it tomorrow Uh, maybe the slide uh in opec there that uh, mike is mentioning uh That opec's in considering, uh In increasing 500 000 barrels barrels per day Yeah Yeah, it's really interesting feature here. Um Air jet line Yeah, I mean it really does mark up your chart in a very very different way It's like if circuit breakers were open and only larger players are playing. That's what you're looking at in here I think it's tremendously powerful Uh, like I said, we we saw a few of these moves in here Based off of the structure and the reading of the larger players Okay, so we saw it Okay, and we were looking for it Those were nice moves too. That was 48 Up in here 48 on up to Uh, what 51 and then up into 50 we said 53 or This this top edge in here, right? It even it went as far as uh, 55 here Uh went through it, but totally rejected after that Okay, so I mean that's that's a pretty good read Uh and By by filtering the data in here All right guys Well, if you like this, uh, please give us a like hit the hit the like button subscribe This helps us out quite a bit uh to continue on with education Uh, you know, we're gonna have a shorter week here. Uh, we have tom be lined up next We have dug options with dug right after that at 1 30 p.m. And then we have the algo boys Looking at their algorithmic levels within book map or at least their levels. Uh, and then trading the order flow there so Guys, we have a really nice lineup here for you to continue on all day long right, so Take advantage of it. It's all free for now and You can really really hone your strategies Or find something that maybe resonates with you All right All right, let's uh, let's wrap it up. We'll call it a day. Thanks again everybody and we'll see you tomorrow um and uh, uh, yep We'll uh, it's going to be a short week like I mentioned and uh looking for the uh Uh You know enjoying the the uh Thanksgiving holiday here in the in the us. Okay guys. Yeah. Thanks again Uh, we'll see you tomorrow