 Good morning traders and welcome to the book map all markets webinar. This is Bruce at book map I'll be your host today So this is Bruce map at live order flow as we do every Webinar here. So what you guys know who I am. I have these webinars on Monday Tuesday and Friday And provides a foundation on all markets on book map and order flow And showing the advantages of being able to read the order flow in the live markets so that we can Start to understand where price might go next so Anyway, you have my contact information there 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, let's jump in. Let's take a look at the markets It's up to you. Whatever you guys want to look at Typically everyone wants to look at the S&P E mini futures product. So that's what we do And we start there at least and go over the markets in general So What do we see and what's what's book map showing us here? And what are we're gonna cover today? I want to show you something for you footprint traders out there As we get going here, I'll do a poll and we'll take a look at some of the Who's who looks at footprint charts or market Delta charts basically? And I want to cover some of the information in there that you can see Directly in book map as well It's just not numerical But I also want to cover What you can see that you cannot see in those footprint charts and that's really important to understand that distinction All right, I'll get into more details as we go. That's something I want to cover I also want to cover some of the Market pulse algos that we have so that you guys can Learn more about those ask questions, etc. We've released some new algos in there. So Go over the Ways of reading those a good morning Jack Good morning, Tony Aloha, so let's let's get started here and Just look at the current order flow at the moment lots of liquidity here at 4190 it traded and you can see the well we can zoom right in there, but you can see the Big transaction right into that 4190 liquidity right here and what do we know about that? Well, we know that there's more selling pressure. Okay, that's a really really simple read Okay, now it's obviously, you know, it's before the open here. It's 9th 13 We know that there was selling pressure here at this point here. This is totally absorbed Okay It did not go through this level here at 4190 and a half and we see a little bit of a bounce and Price did not go through that level that means that this liquidity here absorbed All of that selling pressure at that time Now we found more after pulling back a little bit and Market took a little bit of a breather And more sellers come in and then this is very classic guys. This is one of the setups or one of the Orderful phenomena to take a look at and market structure and understanding the order flow high liquidity It transacts more selling pressure pull back twice or three or four times in fact Right to where it broke from here and all of that liquidity traded you can always look for it You know, this is just a microcosm of a setup here Or a fractal of it. Here's the selling That's where sellers took control, okay And there's there's the zone here. We know sellers are in control. We get a pullback Okay, now look at the pullback Not a whole lot of volume in here on that pullback not a whole lot of sellers on the retest down here either Okay, so it's really kind of back and forth in here and that's exactly what it does it chops Okay, now we have more sellers down here And we're not making even an equal high up to here looking for follow-through to the downside into other areas of high liquidity and why Because we know there's sellers here and we know there's more sellers here So we continue to look for that selling And they are in control of market on this small time frame this concept Works on all charts a monthly chart a daily chart a five-minute chart. It doesn't matter understand this concept And Understand who's in control and then go with that direction you can look for pullbacks, etc. There's all sorts of trading strategies that can be extrapolated from Comprehending this order flow phenomena. All right. So a good thing right off the bat to see and We're just we're just covering the basics here More liquidity down here now. Did it trade? No Still in the order book at this point Okay, we didn't even come about we came down close to it and not I'm sorry. It looks like something did transact No, not one one contract transacted. It did above here 86 contracts just one tick above they never tangled with these 567 contracts there Okay, so was it absorbed? No, it just wasn't even traded and we see reaction here at 930 Okay, the market opened up and it moved down toward here It traded into this liquidity here and we see buyers come in hand over fist here now Who took control of the market here? I'm asking So let me get to the questions here in all markets as well. Good morning guys There it is Okay, oh I'm sorry. I didn't see some of this stuff earlier here I'm sorry guys. Okay, so what? Good morning Rob Yeah, good morning Jack. Um, all right Yeah, well, so okay, so buyers We can see that and is it covering? Um, yeah, it could be could be To me though this this will we see there's a stop run here. Okay, so Maybe it's people getting that sold down here Getting stopped out on the way up. I mean, they're getting stopped out both ways here You see a stop run to the downside stop run to the upside but That's okay. Like what we need to understand here is Hold on a minute What we need to understand here Is look at these buyers coming in where for the most part now? There's microstructural areas in here. You could say they came in here, right? Let's just zoom out a little bit though And let's just let's just say most of them came in right around here And move right up into this high liquidity up here at 92. Okay, what we're talking about and what we're covering right now is About the order flow, but we're talking about market structure and In the order flow within the structure here. Look at the pullback here. Here it is right here Okay, this is no different than this concept here Okay, this is just smaller time frame in less volume Okay, so and again right there. There's your pullback. Okay. In fact it pulled back into this liquidity here as well All right, so just understanding this concept of who's in control and what time frame and You've really got something that you can lean on now right by understanding the the market participants here All right, so anyway worked out really nicely here some back and forth. We did get a boost here in from the data 945 as you can see the liquidity dries up in here And and we have some news and we see a move to the upside here. All right, so And we're finding buyers hand over fist now. We can also look in these areas here Same concept here again Here's the buyers Here's the pullback. Okay a little bit below a little bit below the swing I mean they could have come down here 4190 and a quarter, but they didn't right they just came to what kind of the top of this little Range right here. Okay That's what we want to see Okay, so if you're a pullback trader, these are your areas if you've determined who's in control now You know, these don't work out a hundred percent of the time nothing does that you have to understand and comprehend There is risk on any trade that you take Okay, but we can go over this again and again and again and you can see that it holds true So what does that mean Hector? This is for you Go back and study this Okay, where do you want to place your stop? How much risk do you want to take? What's your profit target? Okay, there's your risk reward. So for example in this this set up here Maybe you maybe you're looking back now. Let's just go through each one. Okay, how you might maybe mark this up All right, so number one is if you're a pullback trader Where's it look where are you looking for the pullback? Okay, where are you likely to get filled? You probably would have gotten filled here To be honest just because of all these transactions here. That's probably where you would have gotten filled However, note this right here You you a lot of times you don't get filled right here You had a perfect entry here and you don't get filled because it's a limit order that you've maybe placed here front-run it By a tick and you're you're just going to improve your chances of getting filled a lot more much higher probability All right, so you would have gotten filled one tick below And then where where do you want to take your profit? Okay, what's your risk reward? Okay, this should work right now. All right, so let's go let's go through it here here's where you got in All right. Well, we know that sellers are in control from this point on. Where do you want to place your stop? Well, maybe you place it up here Okay, so here's my range then and guys. I'm just using these simple Rectangles here as as ways to And let's draw another one to just measure here. That's all right. I may need a couple just Very very simple measurements here. All right, so Instead of looking at certain points and whatever we will just draw it up. All right, so There's my stop. All right. Well, here's a one-to-one trade right here down to the bottom of that range Okay, basically one-to-one And you probably wouldn't have gotten filled here even if it was a tick above one tick above here Right now that's one-to-one though, right? So You know, where do you want to take some off though? Well, you know, it's this is really to be determined like Where how much risk do you want to take? Okay, I like to take some off down here at the bottom of this range here I like it to be better than one-to-one if I can But I also I don't want to get stopped out and this is a really small range. Okay, so these are the considerations Right now we can take a look though and look at next area. Well, this looks pretty good. Okay, here's two-to-one right and 4187 lots of liquidity there. Great. That's a great target Okay, so hold hold for that. Okay, so Hector This is what you do go mark this up and Look at these areas in here. What is your risk reward? Where do you place your stop? And then go through did it did you get stopped out or not? Not that you took the trade Even if you would have you would have marked this up even if price reversed here Okay, and went up and through it. Okay, so because you need to know like how many times this worked And then just put this into an Excel spreadsheet. How many points did it go? For you and against you Now you can start to What it was how many points was your stop? What was your risk reward for scaling out one or holding for two? Or maybe maybe you didn't maybe your first scale out is down here. Okay, and again I like to front run these by a tick And I wouldn't do I probably wouldn't even gotten filled here to be honest At this 87 and a quarter because not too much transacted there Pulled back again, and then it went through and again. Here's a small little Fractal of that same trade Here's your pullback and there's your follow through Okay sellers in control All right, so now we have four of these actually now. This one's kind of a joke, but you know And there's your there's your pullback there as well It's just too small, but if you were hyper scalping it's the same concept And now now you have something right now. Did the bigger trade work out two to one? Yeah Worked out pretty nicely. What about three to one four to one? Well, it looks like Three to one would have worked out as well. Okay, just about three to one and that's about it How do you trail your stop You know or do you leave it way up here? these are things you have to study and and Think about All right, so and again, here's another one now. All right, so look at some of these ranges in here You know, here's your pullback. Where's your stop? Okay, it would be the same exact thing in here. So let's suppose let's suppose you put your Your limit buy down here and You know that that's your entry point and then you know, maybe your stops down here go through the same process with the rectangles Okay, start to draw it up start to measure it start to get a feel for it. What's your risk reward? Is it worth taking maybe it's worth taking these compared to these with one one-to-one ratio for for the first? Leg out not even one-to-one. Is it worth it? Do you want to take that risk? Okay, maybe you can maybe you can take a smaller trade here with a couple of micros or something like that To consider. Hey, maybe here you you ramp up. You you you have a better risk reward These are some of the questions but keep it simple Hey, just mark it up first. Don't worry about trade management yet. Do you have an edge? Okay Mark up the next one and again and again and again All right All right guys, well there's off to a start here, and we haven't even looked at the bigger picture yet So sorry to rant so far, but let's see here. Let me get to some of the questions Huh the video quality now the video quality here. It should it should be equal In YouTube as well as it should be even better in Discord Yeah, Rob, you're you're you're all over it. So yeah sounds good Yeah, Jack you're looking at that 41 85 level and that rejection. Yeah. Yeah, that does tell quite a bit It never even never even came to it The delay should only be here in YouTube only about like maybe Well, I mean we saw like three seconds when we were testing but it might be you know, maybe four Five, I don't know but it's not ten Okay, huh, that's too bad the discord should be should be good Yeah, Jack. Okay, so here you have Jackie. He's he's confirming to like he likes to front-run His his take profits as well Yeah, Rob, you found that two ticks works better for you. Okay, there you go Yeah, good discussion So all right Let's see here Where where did I I wanted to I got kind of sidetracked right away in here By looking at this setup here and then talking about the study in this But this was a good example and there's like three or four examples right off the bat here. So Hector this should answer a lot of questions. You've been asking me and that's why I wanted to go through this as well So that now you know how to do it Okay, we just covered it and you have to do this work Okay, no matter what it is if you're looking at a double bottom pattern or here. Here's a triple top pattern, right? Well, look who took control below that triple top here Hey The sellers did they were tested though by buyers here. It rejected again Okay, look Jack. Jack was on to something. This is pretty telling down here this 4185 area down here They did the sellers didn't even come down there. They didn't even make a new low Okay, they just came down to where even one tick above our pullback on this original trade idea here And then and then look at the selling looks good. Okay, but buying looks pretty good here, too Pretty strong. So who's in control here? What do you guys think? Hector is the only way you'll just need to do the practice. You'll need it's not just practice. You need to document it You need to know that you have an edge. You've proved it to yourself. You have an edge It's like, you know, let's take a simple example like ridiculous example If if it's a coin flip. Well, you already know that you the chances are 50 50 Right on a coin flip You didn't have to study that because it's so simple But this is more complex. You have to study it Okay, you have to know your probabilities And this is how you do it All right, and then once you start to have faith in this you you start to You can start to trade it okay, but you trade it in demo You see if you have an edge Did do you have to work on your trade management of it? You know, did you Is it is it clear in the in the in the real market when it's unfolding? You have to answer these kinds of questions. Can you see it? Can you react to it? Do you get filled? You know all of these kinds of questions because like when you do a backtesting study and it's automatically done Good luck because in the real world it just there's a big big leap from having that automation backtesting and then the You know forward-looking testing All right, and in your fills can look you you can see just a beautiful equity curve to the upside With some sort of algo that you might have developed and then see if you can see if you can really trade it And see what that equity equity curves look like at that point. You'll probably see it go down most likely Anyway At this point here who's in control? Nobody right. There's buyers. There's sellers. There is all over the place in here And we're just chopping. Okay. Now. That's an edge though, too, right? Okay, so let's just let's just mark it up here. Here's our zone. Oh Sorry this twice now. All right. Here we go Here's our zone here And here okay now just just for this trade act all of this trade activity in here basically Okay, now this is something to look at and study as well. Okay. Now I'm this doesn't make me to makes me kind of queasy to look for this though and You know, I don't really quite I Have to study it more basically You know, but this this would be your range bound potential range bound trade in here right so top of the top of the Structure here. Okay. Now you're looking for something in the order flow to give you that edge Well, they're pulling in the order book. I see buyers and I also see the book here kind of stacked on the bid I Look, I'm actually looking for it to test higher Okay, so this is not a range bound trade I think it might break out of this range and if it does I'm looking for it to come up to This swing or this liquidity here 95 All right, so Did this with this was this a range bound trade opportunity? No, okay But you can look at that as well now what to look for in here for your range bound trade is who's not We know someone is no one has taken control here All right at at this point here Okay, so if we come up when we still don't know who's in control Well fade fade the outside edge It's likely not gonna break it or if it breaks it It'll likely come right back in and trade back down to the the mean here Okay, it's like a mean reversion trade here And what I mean by mean is the most traded level in your volume profile So this this would be your level here would be 40 92 and a half Okay, and you look for that But we were looking for Not this setup in here It didn't it did not set up the way that we liked it In fact, it looked like it was gonna break out to 95 and maybe 96 Okay, now look at it Okay, well, what do you what do you think now? Right? It traded up into these these areas here and now we're right back down to where it broke out from Uh Doesn't look too clear here. I'm looking for the order book and the order flow And the volume and structure to tell me something and right now. I don't really see anything telling Okay, so maybe we see something in here. Let's let's take a look Hey, well, we have a potential here. We have potential of this being trapped volume And we know what that looks like though If that is a trap, we're looking for big red dots down here We're looking for in the in the order book that this liquidity starts to stack on the offer Okay, and this liquidity on the bid not to be doing what it's doing. See how it's they're bidding up here We don't want to see that We want to see them pull and we'd look for it to come back down to this liquidity or this liquidity In fact, it would be better not to see this liquidity at 92 All right, and then that would be your range bound trade Okay, now it's something to take a look at though and to study But we're looking at the behavior in the order flow to give us an edge for a range bound trade Okay, so it's actually Something starting to unfold here, but look at it though Isn't an edge. Well, they're still bidding up underneath here and and no, I would say no I mean, we do see more liquidity coming in here at 95 and a half and we do see the sellers But I just it doesn't look that compelling in here And they're still kind of in the book down here as well. So yeah, I don't like it I would filter this this trade out. I would not take it Hey, we're looking for this as potential trap and a move back down into these levels here Anyway, guys, so, you know, this this is again, like take a screenshot of this and then go back and study Okay, put this together into Something that is Understandable for you In what to look for All right Okay, so okay. Yeah, Jack's got a conversation going with Rob. All right All right, so let's go over that let's we're gonna clear everything here and we're gonna take a break from what we've been discussing here and Look at and understand some of the market Delta All right who in here? Let me put Put out the question hold on. All right guys. There you go. So Do you use market Delta? Charts or footprint charts and if you do I Mean I a lot of people do it's been out for quite a while But I want to cover it here in book map All right, because once you once you start to understand what you're looking at here in book map I imagine you're just gonna Gravitate toward book map more because you can see more details here You can see things at the the footprint charts. Just they just don't cover One is liquidity right off the bat and we're gonna take that off the chart here for now And we're gonna cover just the aggressors in here Okay, and we're gonna understand momentum as well You know who's we talked about it already white who's in control? Okay, well, you know, we have the Delta dots on here and we have Delta bars down here Okay, in fact, let me We'll even simplify it with stops and icebergs. I'll take that off just for now All right, so what we're looking at here is Best bid and offer streaming over time, which gives all of the price action Hey, all of the price structure is in here Because it has to be it's it's every little nook and cranny or every detail in the In the price action and we're looking at the aggressors here So let's click on the volume dots here and go to volume dot settings We're looking at volume Delta by minus cell If it's a red dot, there was more sellers than buyers. That's why it's red If there's more buyers than sellers, it's a green dot And that's it it might be all buyers it might be all sellers it doesn't really matter We're looking at the Delta the bigger the dot the more Volume Delta there is for that color Okay And that's it. All right, so Now what about the the volume bars down below? Okay? I also have it here as volume Delta Right now you might have it as as total volume or maybe something else total volume is fine But it's showing always the cell volume is on the on the bottom and then on top is the buy volume Okay, it's not it's not any any sort of you know, there's not always more buyers in here for example, right? Now this could be helpful. You're looking at total volume. It's up to you We want to look at volume Delta here. All right now for a lot of you footprint Chart traders. Let's take a look at our poll here. How's that looking? Okay, it's only a quarter 25% of the people trading footprint, but we don't have too many votes there But you know, we know it's popular and a lot of traders use it the The thing with the Delta Market Delta is you'll see down below here numbers, you know, maybe a stack of numbers like, you know four or five Different numbers in here like, you know aggressors of buyers aggressors sellers the Delta etc. Blah blah What we're looking at is basically the same thing here But we have actually quite a bit more to understand here, right? because that's an aggregation when you're looking at that bar in your Market Delta you see these these This readout it is a candlestick bar or a bar of data here Okay, and you'll see the Delta on that bar Okay, that's the problem. I that's one of the problems just beginning with Your market Delta charts. It's a bar of aggregated data Okay, instead in book map what you're looking at here is the Delta and you can see all the details Okay, where did it begin in the price structure? Where did it end? Where did it pick up etc? Now we have the the dots in here and then that that answers all those questions The The bars down below though, it just shows you the big spikes Okay, now we know sellers took control here and moved it down into this lower area And we know from the Delta we can see it in the in the The quick move. Okay, which is what we want to see and we want to see strong consistent Selling on that move to the downside and we have that We also have strong consistent buying back up Okay, now we can now let's do the comparison though There's still more selling in here than there is buying Okay by comparing these two here Okay, so we already know that the sellers are here and they started Roughly we can zoom in even further here if you really want the details But they roughly started right around here, right? and And actually at this point here, this is a low volume pullback on the on the buy side Okay, and now the low volume pullback actually went above the sellers or where they initiated here Okay, it started here, but it really picked up here. Okay, let's mark that one up, too All right, and you can see the spike above it and I just I got to do it It's got to be a stop run above there and yes, it is but it's a big stop run to the downside so There's there's our Now we're going to relate this to the to the footprint chart This is where the footprint chart You won't see the details in here. Okay, we know the Delta. We know sellers are in control We know that they the sellers have been tested and some have been stopped out up above here And then we kind of chopped back and forth in here Okay, in fact look at some of the details in here Okay, this is where book map really shines because we have other market structure in here Hey, you have this little structure. You have this little structure and look at the pullbacks We we before looking at the smaller structure. We Recognized this is where the Delta really picked up and that's where you got the you got the move above it And the move back down to it and the bounce back Okay, so buyers are above that area here Okay, now they are not in control though yet There's like the buying is back up above, but we don't have that strong consistent volume yet This is kind of an interesting case scenario to cover this a little more challenging for the footprint traders, but What we want to look at though is some where did the buyers come back in? Right look at this big dot here Okay, you guys know what I mean when I'm when I'm talking about this big Dot here you footprint traders You're gonna see your high volume. No, you're gonna see your big Volume there a number Okay, and you're gonna key off of that And footprint traders key off of it. This is the pullback to that and it was supported here It is again, right now what book map is showing here is the Graphical representation. It's not a number, but it is it is a a big green dot and we know that there's more Delta here And this is how you can use book map All right for you Market Delta traders Start to understand what this is in here compared to your footprint chart And yeah, ultimately we do find more buyers back up above And we continue on higher. We were looking at this move here actually earlier Okay, and we're still seeing more Delta in here. Look at look it again the bars look at where it's Transacting here as well. Okay, so we're looking for this to continue on up Let's test up here. Ten at least ten o'clock highs Okay, it's just doing it right now. All right, so now again, we can take a look at this and we can start to look at Delta in here Okay, now momentum is another thing that we want to understand and you guys looking at your Your Delta Output down here, you know in your in your bars You guys know what I'm talking about You'll have your your number and and a color and a bar here and the bars the bars are just they're stacked up like this You know one, you know, it'll be the market Delta One will be the aggressors of the buy side the sell side whatever And you'll have your numbers here and then it will just repeat right one after another And then you start to read that but you're reading this down here You know and and then trying to look at it and understand it within the structure Okay, well these volume bars are basically doing the same thing Okay, understanding the the bars here is basically the same thing. You're looking at the Delta Okay, now, let's go and see where it's trading where it's transacting. All right, so and we can start to understand now This within the price structure Okay, so most of the transactions were up here Okay for that Delta for this this bar here. Well, it's somewhere around in here And it went back and forth in here Here we have some exhaustion. Look at the Delta down here. Do we see sellers down here? No Do we see buyers starting to come back in? Yeah, right in here. Where do we look for this to go? We know that there's a buying up here anyway Right, so that we're looking for this momentum of buyers to continue At least up to here Okay, and that's exactly what it just did Okay, a little a little shy of it now we're gonna have something interesting And I was kind of hoping that this would happen here Uh now we see a lot of selling coming in right? Okay, here's our Delta Okay, now buyers are still in control in this structure, but it just came down and tested this swing here Okay, now what about all of these buyers in this area here? Okay having to be squeezed Okay, where where are they gonna where are they gonna go? And we and this is why a measured move actually can be very helpful because Uh, their stops are gonna be someone stops are gonna be like either at the swing or you know one-to-one or you know That's why these these kind of structural areas Uh work, so now we're looking to see If we get big delta down here And we do have pretty strong consistent move here actually on the sell side here strong enough Right now. This is again. This is uh relative volume here. Scott talks about that a lot Now do we have sellers down here? Yeah starting to pick up Okay, so let's see if we can get um Uh, it it kind of changed a little bit the delta changed a little bit when it was down here, but um All right, well, let's see if we get a can get another move back down here That would be the first thing we look for is Exhaustion here Or if there's buyers here, we're looking for the them to be trapped and we're looking for the sellers here And we're looking for the sellers down at 93 and a half And then the break and the move down Okay, we'd be looking for where where might this go Well, let's look previously at some of our delta bars in here Okay, this isn't a bad area. Look at all of this delta in here Okay, and there's a structure here Right and there's a structure here. So the swings Um, yeah, maybe uh, also this this kind of uh, uh, you know These delta areas that we just just spoke of Okay Now I know that's not much Uh, but uh, this one looks much better Right down to that area. Now, what about the what about the delta though? What can we learn about from uh, the uh transactions in here? Well, it's mostly in here, right? So maybe maybe we find more, you know support in here. Maybe it's the sellers that get trapped in here And we continue on up and we get more buyers again Okay, this is the risk that we need to assess Okay, and we're we're using uh and understanding the, um Market delta in here And understanding who's in control in some of these areas, uh, and are they still in control? Hope this is making sense for you guys Uh the um Here we go. All right. So here are sellers coming in now and uh Yeah, I mean we we we just noted this is where those buyers really came in here Right. So actually the first area we're looking for the break was uh, you know here at 93 and a half But is this is actually kind of an important area right here for it to break And we're looking for sellers to come in and break on break that down Okay, so far so good. I'm looking for it. I'm looking for 91 all right So anyway, again market structure Uh, and then the volume and the delta within that structure Now we can take this a step further as well Uh in book map now. I don't want to confuse uh everybody here Uh and go too deep down this thread I just want to my goal in here is to for for those footprint traders those volume delta Or market delta traders to understand and how to utilize this within book map Okay, you can really pinpoint the same areas Uh by looking at, you know, your delta Uh in in book map and your volume dots and you can really pinpoint little structural areas and that that makes a big difference Because you're not going to get that structure It's going to be on a bar Uh in your market delta charts Okay, so you can really pinpoint these areas in here Okay, you're gonna you're going to notice the same thing That 95 here on your Delta charts is is the same as as the 95 in the and the volume the volume that traded here Okay, so maybe you look for a pull back there All right, and then the continuation to the downside And you almost got it it came a little shy of it here but uh Anyway, um, yeah, this is uh a way to extrapolate that, um Data and information from your delta charts into book map And you're getting you're getting a lot more though because you're getting the Pure price action and the structure instead of the aggregation on the bar Okay, and you're going to notice the same areas In fact, you're going to be able to You know see Even it beginning beforehand A lot of the market delta traders I see them come waiting for that pullback Whereas we're already looking for the momentum to the downside and already took some off and then look for a pullback and And maybe splice back in and then looking for a continuation All right, so anyway uh Yeah, so These guys actually these these buyers still remain in control here actually from here We're looking for the move lower and looking for 91 Well, look at look at shifted and changed right here A ton of buyers a ton of delta Just came in Okay, now This is the other advantage here. We have with book map. Okay, we we recognize that now They just shifted the market away. Okay, and we're above this little area here as well Okay, that we identified earlier and we're above it on some pretty strong buy volume All right, so now I'm actually looking for the move back up to here. Okay, 96 and a half or 97 This shifted the market here And it's look at the volume look at the delta again Okay So now these buyers came in and took control Okay, and you can even look for your pullback Maybe to here Or maybe they even come all the way back down and retest these buyers at 93 Uh, there's we got to go through the scenarios in here. We've because we've seen it all the time, especially in choppy market environments This delta looks pretty good Right pretty strong buying shifted the market Sometimes you can get equal and opposite right on the other side and now these guys are the trap And they will get stopped out All right, now why did why did I that makes everything confusing? But that's why we wanted to cover this one here Okay, because here's your strong volume to the downside And almost equal. Okay, it's it's less it's less buying. Uh, you can see it Right, but it's still pretty strong buying that moved it back up Okay, and then and this is where the buyers took control here Right in here All right, you can look at it. You can see it look at the bars the delta bars look at the delta Dots in here and look at the structure Now this understanding that just these three elements here of the bars The the dots and and the structure here. You've really got something. This is how the market mechanics work It is the buying back up above that area the pullback to it. Are they still supporting it? Yep, they are Okay And they're supported it again even down here went went a little bit below them here Interesting. So we did get that equal. Did we get equal delta on the other side here? Not not quite, but we are now Look at it now Okay, so now now we've got someone taking control Okay, now where where are we looking for them to move it? Lower the day Okay, and and maybe and then some All right, so now these these buyers are not in control any longer Okay, there now it could be an in opposite and equal force by the market delta Okay by the buying again, but right now it's it's dominated by sellers It's dominated Okay, look at we've already had a pretty strong pullback here. Okay. I mean Price-wise it pulled all the way back to these guys here All right, so anyway, this is uh some of the details that were I wanted to cover what about market delta Uh, and then understanding that within bookmap Okay, and understanding momentum uh behind this as well. Okay right now. This is a low volume pullback Right now I want to let let's I want to um Uh deviate here for just a minute about the low volume pullback and the setup in here A low volume pullback is still here Okay, but The price move came all the way back up here and we've covered this now for a long time for you for some years Uh that these are the the traders in control here Okay And the doesn't really matter if it's low volume or not If you can get the buyers back up above where these sellers took control And then you get the strong, uh A buy delta here. Well, then they can take control of the market and move it back up Okay, so and this has happened now a bunch of times actually today All right, so just um Wanted to uh, we we got to go through that scenario because this happens, you know a lot uh, typically uh What we look for is sellers in control small pullback buyers are not interested in doing this and and tangling with these sellers They are firmly in control and They're not interested in buying and They're interested in buying back to these areas And then that's about it And then usually what we that's why a lot of times these low volume pullbacks. There's very little volume And it's basically exhaustion up here Uh, and uh, there's there's no uh no buying it exhausts out and you get sellers come back in And they'll trade it back down into areas where where they can Okay, where it can transact because we know that there's sellers down here All right guys, um, I think we can end the poll. I'm I'm kind of shocked only 32 percent Uh are um Market delta traders. Okay. I notice. I mean I I looked at it for for years as well. Um, I like it I mean, I thought it was amazing to see Then then I I saw book map uh, and was Really surprised that not only is the same information here and we haven't even touched the heat map yet Okay, it's that we have way more context here This is where We're covering the same things in here that market delta. Uh traders are looking at Except we can go into more detail Uh in the in the uh, because we're not looking at a bar So you've you've now you can open it up and you can really zoom in you can look at these areas You can zoom out it doesn't really matter. Uh, you can still get the aggregation of the of the delta here. Um, horizontally All right Now, uh, the the other advantage here though, and this is a huge one is the heat map Who's on the other side of the trade? Was it absorbed? um And this is where you're going to get a lot. Okay, uh by understanding, uh, the um The other side of the trade here, right and the the order flow Okay, and that reaction here we're looking at it earlier and we talked about it for that one setup, uh, and then here, uh, we are, um We're we just covered the the delta Instead the volume Um, all right. Well, here we go again More sellers here I'm looking for them to break it hit 88 and then our 85 level which is lower the day Okay, sellers are still in control in this small move here Okay, we they pulled all the way back here Yeah, here here's where we saw the buyers trying to take it They tried again here And and look at this. Uh, this is where you can start to look for potential traps too right, so We need we need to see seller it now would be great to see exhaustion in here We'd like to see the order books show more on the offer pull on the bid. They are this is working out now We're just looking for our aggressors Hey, there's a little bit on the bid here All right, but we're looking for our aggressors. We're looking for our red dots here We're looking for our delta to take control again Okay, now this this what we just covered in here about, um, you know market delta This works on all time frames. We can look at, you know, uh seconds of data in here. It is the same Okay, you know, look at buyers actually tons of buyers coming in. Are they buying here at this top level? No now now they're not now we're seeing sellers lots of sellers Well now it's back and forth Okay, so we're not really getting too much out of that at the moment Okay, here we go sellers at the bottom edge here now look at the delta all the way through here Hey, it's pretty back and forth, right? Okay, now we're getting now we're we're looking at delta and structure And we want to see the sellers down here and we want to see them try to move it Okay, and they need to take these guys on at 89 and a half and trade through them It looks like they want to they're on the bid here, right? So, uh They need to tangle with these guys and they need to trade through it That's why we were just we were just talking about it looks it looked pretty good Or was it? In here, I think they were they were starting to pull was it here? No, maybe it was down here. Uh, they're starting to pull they're adding here on the on the They were they were adding on the offer and they were pulling on the bid and we we started to find some sellers So we were looking for it to go lower All right. Well, this is starting to change shift and change And now they they are on the bid here now. They're pulling on the offer And we're and we're getting some buyers up here So this is really back and forth And we we we saw that at these at this very low time frame in here as well all right, so One more detail in here On on delta Then I wanted to cover And that detail is that we also have it on the horizontal And this is really great Let's clear our drawings one more time here So what we can do is look at it in our volume Profile columns here right click in here go to configure And then you can choose delta here and all this is doing in here Is looking at buy minus sell add it up Across this price level here And then giving me the delta And here it is Right, so we can identify it this way as well Okay, now again note though that this is an aggregation So we don't know where that volume delta really took place. I mean you can look at it in here You'd have to study it. It's most it's here. This is where most of it is right here Okay, that's way back here That's that's uh Not relevant at this point. So maybe you want to take that out of the calculation Okay, well, there's still quite a bit here All right, it's this cluster in here. Well, that's kind of irrelevant too It's getting it's becoming more relevant, but it's it's it's irrelevant Okay for the small time frame And still a cluster of buyers in here So now we can mark these areas up Okay, and you can you can also look at this and we covered this When we're actually looking for this possible breakout and we said that If we can get below this area here Look for the sellers and look for these guys to be squeezed that the buyers in here And they should they should be stopped out on the way down So you can look at these areas in here. So yeah, I mean And look who's trait who's trapped or look where who took control in some of these areas So for example right now look at this coming back up here Okay, here's our breakdown right here 92 50 All right, but what if we we can get buyers back up into this zone in here? There's a lot of buying up in here Right. Well, that means that these sellers in here are likely going to be the buyers up in here They'll be they'll be forced And then the buyers have have a chance to take back control of this market And where where is the most likely place for it to go first if you can get buyers back up in here? What do you guys think? Okay, and we'll look for that scenario See you jack. All right. So here come our buyers. All right. So where where where is it likely to go? Well, right here our high volume node Okay, so yeah, somewhere like 94 94 and a quarter Okay, it's like a magnet Yeah, 95 a little a little a little too high. I mean just just for just for starters here They just to get maybe maybe so Abby Maybe 95 because that's where the selling came in and and there's where the swing is kind of up here I like that idea, but we're looking for a higher probability and we're just talking about 94 And we've already done it Okay, now Look at the delta in here. Is it pretty strong? Yeah, it is All right, let's see them get up to 95 95 and a half. Let's see them get up to 96 and 97 here I'm looking for this to continue We're above this delta here And we're back in here in control with these with these previous buyers in these areas here Okay, and we're seeing a pretty strong move and we're seeing pretty strong consistent buying on the delta Okay, now it just kind of exhausted out here. This is not a good sign And now it might it might turn into a flag pattern But usually what we want to see even on a flag pattern is we don't want to see this here See how it's exhausting out and that's not a good sign Okay, instead what we want to see up here is That continuation big green dots all the way through Like this Okay, and then small little red dots pulling back Okay, and then Into into some little area in here now it might come back down into 93 Um, but you know look into some little area in here For that that potential flag pattern. See how it's coming all the way back to 93 right and It was we like this move But the exhaustion we did not like Okay, and now we're looking for Ultimate scenario here is those that little selling in here followed by again big green dots Break the high have this liquidity pull And then hit hit up into 97 now we even look for a measured move, uh, you know somewhere about Let's see here something like this Yeah, your measured move is is not not too great. Um It's only up to about 95 and a half Okay, and and why because of the deep pullback All right, if if it stopped here Then we look for a measured move like back up into 96 97 Right, but right now we're just looking for move back to about 95 and a half Okay, again like these are a lot of concepts that we're covering Uh that you may have learned over the years But now we're looking at it in a very different way in a different light using the order book and we're looking at the delta here as well Hey in the structure So a beautiful move abby right right to your 95 area Again, I just I didn't want to I'm not trying to counter your um, that was that was a really nice nice call um, I was just calling the move to um The the the concept of the most traded volume there Therefore, you can transact there back at 94. That was my my concept Okay, now look at it here Okay On the offer here. I don't see much on the bid at all And I don't see a whole lot of selling in here. So now we're back into our kind of back and forth market here Until we see something more Okay, well now we're starting to see a little bit more Okay, just just some bind but the the the offer is still pretty strong here. Are they bidding up a little bit? Not bad a little bit. It's it's it's here in you know blue, uh here There's some exhaustion though sellers will probably take it right back down to 93 and a quarter all right any questions on uh comprehending this market delta Uh within book map is pretty it's actually is pretty straightforward um, and but what we're we're opening up and and then Interpreting uh that market delta and that footprint chart here on on the book map Okay, this is now volume wise. This is looking a lot better for a breakout here Okay, well you can just see the relative volume up here. There's more delta again delta and delta And then delta up here Okay of buyers All right now, it's not a whole lot But it does look better. I don't see a whole lot of selling down here Okay, so I would look for this this would be a weak top and for it to break And trade up into here now the other question though is what does the order book look like? Hey, see how they're still you're still offering here I want to see them pull. I don't want to see these guys bid up on the other side I want to see this in balance in the order book And then I want to see the aggressors come in and move it Right, they have they have a pathway to to move the market And I'm looking for that that delta to continue and momentum to continue I like it abby You've been you've been paying attention in these webinars. Excellent. Yeah, so uh, uh, yeah, and again, I would just um Echo or harken back to uh to hector Just um Seeing it play out is just the starting point It's just the starting point Um, understand now go back and study it. Um, and really really know this concept really well Uh, and uh know when you have an edge Okay, now you have something and you can lean on that and you can use that to your advantage all right, so I think uh, I think I covered it pretty well in here. Um Let's just zoom out and look at maybe bigger picture And you know, one of the reasons why I'm I'm covering this today And uh, let's just get rid of these candles that just drive me nuts um Was something that we had yesterday. We had the webinar with, uh, uh, Nicholas from data dash in crypto markets Uh, and we were talking about delta um, and or He was starting to know and if you guys haven't seen that, um, I would Highly recommend it, uh that webinar from yesterday because he's talking not so much about order flow and book map Uh, he was talking about cuna volume delta though in book map And uh, and I wanted to take that further with the delta bars and the delta dots a lot further Because the data is all here. It's all here plus you get the heat map Okay, plus you you can understand the supply and the demand in here And that's a lot a lot better information The the combination So, um But it was in crypto and like, you know, we can we can look at these areas in here Let's look at this for the day right now. I mean, it's been pretty choppy today really choppy so But let's look at the delta here now. I would say based off the delta buyers are in control Right, uh, now where are they in control though is the key Okay, we we also have our delta column now that we uh Punched in here. So Now, uh, let's take a look at in the overall it looks to me if I look at all of this delta here Okay, it's really here Okay, so this is kind of the critical area today Okay for these for these buyers. Are we above that area? Yes Do we see buyers above that area? Well, we just saw this move back up here And then we saw the exhaustion and we were like, no, we don't like that You know looking for a potential pullback Here is your pullback okay, so Now Can we see the buyers come back up to the top of the range here? Okay, I would say this is likely Uh, gonna happen here Uh, it's kind of sloppy back and forth in here But uh, yeah looking for buyers to test back up here to about 95 94 and three quarters 95 And if we get enough buyers in here now, we can get the breakout All right, look at the delta hint. Let's do the same exercise that we just did here for the day On this fractal level in here Here's where the delta took place On the buy side Here's our pullback here All right, so we're just looking for the top of the range here Okay, and this is where we left off on the webinar Starting with who's in control in some of these areas and understanding that and then looking for Pullbacks and to move back to the top of the range and then a breakout And we talked about controlling your risk in that as well All right, I think that's actually a pretty good note to end on Uh, so, um If there's any questions in here Elsa, yeah, let's just uh, we'll wrap it up and call it a day, you know start off exactly or end um Exactly where we started off in covering this and understanding these moves on these various time frames and understanding these the the delta in here Okay, the delta within the price structure Okay, by the bars and by the volume dots Uh, then add the added, um Information here with this order book in here Okay, now we we're still looking for buyers to remain in control here Okay, until we see something different Now it we may we may get all all of a sudden all sorts of sellers come in right now And they'll blast through this area and it will come right back down to here. This is the likely area it will go Okay, bottom of the range liquidity down here 90 Okay, but we need to wait and and uh, well, we don't we don't know if that's going to happen or not the order book Not really telling us much here. I first off. I'm not seeing those sellers right now Uh order book is not telling us much. In fact, they're still on the bid here at 92 and 92 and a quarter Okay, so this is still in play Okay, buy side Now we can even look here some to see if we can get a little exhaustion and a little bit of buying in here Okay, same concepts, uh, and then buyers to take control here right here at 93 and move it back on up to 90 95 94 and three quarters Okay All right I don't have a cvd up. Uh, we can we can uh Plug it in though There we go There's your cumulative volume delta Anyway, it was an interesting Discussion yesterday because uh Nicholas was talking about delta on crypto being quite negative And and seeing that week over week now because he looks at much higher time frames In positioning themselves on those higher time frames Right, but the concepts are exactly the same Okay, uh, and Then I noted I or we had a discussion about I noted back a few years ago um when crypto was around 20 000 And I I it was just I'd never seen anything like it before Bar after bar after bar was delta positive It was all green no matter what if even if the price action was going down Um it and there was a little bit of selling in here. There wasn't one red bar Like maybe there may be like one or two every now and then but boy not much So and what ended up happening it went from 20 000 to 60 000 So it was massive accumulation Okay, and we're doing the same thing in here, but on a much smaller time frame Okay, like look at this here the same idea is this is starting to work out now And I'm looking for it to come written like we were earlier Uh for it to come back up to 95 Right now we're looking here. It's a little bit of uh imbalance in the book. Okay, that's good Uh, and uh, I don't see much liquidity in here until 95 So the buyers have a path here to go If they can take it there they just they need to show up now Um, anyway, uh the um Yeah, the concept is exactly the same Uh, and we can even look at this area in here. This is where all that delta took place And that that's selling Uh, and uh, that's not that strong consistent, you know selling that we're looking for there Ah, there's a little bit in here and maybe a little bit in here, but it's really here. This is where it's spiked Right, so this is kind of the key area. We want to see buyers back up above that area Okay, it makes sense and we did we did get that in here Uh, and then they just they failed to take it failed to take it higher here We're still looking for it though, right? So from here Is is this the magnet and we get the sellers down below and then we get the the strong move like this Okay back down to the bottom of that range Here Or is this where buyers remain in control and we come back up in 95 Okay, well our cumulative volume of delta is to it's it's been positive and we noted it in here as well All the way through some selling in here as well But mostly buying here All right So now this this this is kind of this is tricky in here There's mostly buying in here But we want to see those buyers come in and take control and move this market now This might it might happen now because we we have the potential trap here Okay, but they really need to come in hand over fist Wait, I don't I don't want to see like small green dots in here moving this I want to see big green dots when it hits you over the head with those big green dots That's when you know you have something It really stands out Right now it's not it's not doing that All right, and we also we can look at our our structure in here You know, we're making lower highs and and lower lows in here in this small structure So it's not surprising to me to see this happen this move back down Okay, I'm still I'm we know there's still more buying in here Okay, so uh if now if they can if we can see the the buyers come back up above this area here Then then we've got something okay, because this is where the sellers just took control Well, let's see let's see if we get it and what we're looking for now is Again hand over fist buying in here Those big green dots and then we can charge right up into 95 Okay, so starting it starting to unfold looks pretty good All right buyers. Let's see it What about the order book? Well, it's not too good. It's not it's not really showing us much There's not too much of anything in here A little bit of buying here at 90 91 and a half on the bid and they're starting to pull a little bit in here So, yeah, I would say this looks looks pretty decent here for that move up into here They're doing it. It's just not Again, it's just not that hitting you over the head hand over fist right And that's another filter a hector to look for Okay, that relative volume in here Okay, and now the delta see see the delta picking up in here on that buy side. That's good. It's a good sign Okay, they have a pathway here to 95 now It's just it's just not hitting us over the head. Let me show you another example when it when it just hits you over the head Uh, and and you look you really look for that um And and you want to ride that momentum All right, and and boy when you when you see that Again, this is something you'll have to go back and study. But when you see that uh, then And you and you know the risks that you're taking in here and you've studied that Uh, and you know the risks that you're taking a lot of times you won't even have any drawdown at all You're just jumping on heavy heavy buying momentum and it just goes right up Right and those are very easy trades and and very quick money Okay, the timing though you have to be there for them And you have to wait for them and you don't and a lot of times it might you may even happen And like it may be in here and you you don't even know it like or the selling in here that just dumped Okay, we've seen that so many times before That uh We don't know when that's gonna unfold Okay, but yeah, look at look at even this move to the downside here Here's our here's our cumulative volume delta. Look at all of this by delta here. It's looking really good now I'd say it's looking better than ever Let's get a little more buying here at 93 and a half And then this should pop immediately up to 95 basically I would look for a quick move up to 95 96 maybe 97 Okay, now we might get our breakout Yeah, now they're starting to pull a little here at 95 as well Okay, they don't want to trade There's all this buying momentum behind it here Hey, what about the order book? Hey, the on the on the bid is not looking so great, but on the offer Yeah, there's a cluster up here needs to trade into and maybe through it But we want to see them on the bid here supporting it as well And we will see them pull a little bit more in here. It would be really great And then we can get up to 97 Yeah, see see it starting to unfold a little bit here. Okay now again Let's go through this example now. We're at 95 I would take some off Okay, now the momentum still looks really good here Okay, so you know you could still hold But this is where you really want to manage your risk and this is again back back testing this and studying this Is where you're going to get the magic What about like here another scenario starting to unfold equal volume just as equal selling coming right back in Okay, well, then it looks like a pretty good decision to take some off up here All right, this is something you'll have to determine Yeah, debora. Yeah, I I trade these all the time Um these rotations I'm sorry current cvd number. You wanted to see that. Yeah, here we go I think I have mine reset at 9 30 Or not. Yeah, it reset at 9 30. You can see the green line there All right, well look look at the move all that great momentum That we're looking at earlier now. Let's just zoom out and look at you know, kind of bigger picture That's still it's still not bad, but look at the exhaustion up here at 90 95 That's not again. That's not what we want Right. We want to see strong consistent buying up into 95 pull back Very little sell volume and then a move back up with strong consistent buying and the breakout And that's ultimately what we're looking at, you know, that'd be picture perfect. Okay. Well, anyway As you can see when you start to identify that momentum in here And we were looking for the quick quick move and it was rather quick up to 95 You know, what was what was a drawdown in here like Very little. I mean we we weren't in the back and forth in here. We were like in it here I I can't recall where exactly but you know, it was just that that was an easy kind of Pain-free move up into 95 That's understanding delta Here we go Okay, let's see it buyers I want to I want to see a big stop run here too. I want to see this big big Huge commitment by the buy side and the stop run and maybe this will be the big quick move here Hey up into 97 okay, so again, like You know, we had we have to read read through these things in here took some off here Looked like a pretty good decision at that time Pretty strong selling coming in Top of the range and and pretty strong selling coming in and that's not good and exhausted out up here not not many Not many buyers. That's not what we wanted Okay, so we took we took some off beforehand anyway, uh, and then this started to unfold And then now we know in retrospect though like You know that selling it could have picked up and it could have come back down here and below Let's just look at our delta again. Okay, our horizontal delta Yeah, I would it would have to get down here about 93 93 and a half maybe maybe really down in here is where you start to see the selling but look at all this buying You know And look at look at this cumulative volume of delta Right, so this is this is what we're talking about with momentum trades Okay, starting to understand that momentum And the delta behind it et cetera All right guys, uh, if this was helpful, please hit the like button Uh, that really helps us determine what to cover what not to cover We do look at it. Uh, so Yeah, um, you know, please give us uh, some feedback there And, uh, let's see, uh, garrick, um, my cvds at 36 something 35 Uh, you're you're welcome will j. Thank you guys. Appreciate the feedback. Um And uh, yeah, well, you know, look we're looking for this to unfold and continue, right? I mean, there's a there's a bunch of buying behind it. We identified it We now we just are looking for the follow through here Now just be careful with this know your risk management. Don't this is why I'm understanding this this momentum or this market delta and in your footprint charts and and uh, and then how this applies in book map in here Like all these things are great And you can still lose money because you didn't manage it, right? You need to know you're you have to protect yourself first And don't add into losers uh, when you see this kind of, um, uh Starting to unfold You know take some off in certain areas that look like higher probability Uh hold if it still looks good for continuation Uh, and it it does right? Uh, and uh You know No when like that equal, uh force comes in on the other side yesterday was a good example Uh in the morning uh yesterday in the s and p Fantastic move up Right here. Let's let's look at the higher time frame here On the hourly, uh, it was here this hour or here better on the 15 minute much better on the 15 minute This was the momentum move to the upside into this Okay, right into this all those sellers here Let's see if we can look at Hmm All right, well you guys can see it. I think I hope uh into all of that selling in here That was it and then an equal amount or even more selling comes back down and where do they go? Bottom of the range here beautiful move Okay, and you you can look for these things and it was strong momentum in the upside but equally strong and then even stronger Uh really picked up back down here and you can see what happened though buyers came right back in and and traded right back up here again Okay, so there's some pretty strong buying What about today? Well, look at the gap Down below this area Opens up and uh, we're looking for a potential gap fill here Uh, we see some wicks up in here 98, you know, basically just above uh, 4200 Uh, I was watching a little bit of charles's, um, webinar yesterday, which was great great stuff. Um, you know, we have streamers every day Um, uh, he comes in on mondays. Uh, tom b will be next And then followed by dug after that Anyway, guys, uh, uh, what I what I was, uh, he was talking about the 4200 area Okay, above or below it as being really important. Well, we're below it right now And I'm looking for these buyers to retest it right now Back up to the swing high 97 98 maybe a gap hill Okay, uh at 04 Okay, but this this look for the test up to this kind of 99 or 4200 area All right guys. Yeah, thanks so much. Um, it's uh Something I've been wanting to cover for quite a while And uh, you know to to look for this edge here And go and determine your edge now hector go back Determine this edge and you guys now you have something You don't have to like listen to someone else tell you That oh, this is what you should do No, now you have something you can lean on you've done the studying You've you've uh digested the concept But you know now like you have an edge because you studied it That will give you so much confidence Uh, and you won't just abandon it and jump to the next one the next idea All right. Thanks guys. Uh, we'll see you tomorrow with j trader. Uh, have a good day everybody and uh, Yeah, we'll also see you back on friday here. Okay. Yep. Have a good day