 Good morning traders. Welcome to the book map all markets webinar. This is Bruce at book map I'll be your hudders. Welcome to the book map webinar, and we're going to go through all markets as it says and order flow analysis really understanding what's going on within the order flow and also the Micro structure or smaller structure of the market, but understand the transactions order flow, which is the limit buy and sell orders and Understand the the market structure. It is the context that we want to understand between these three elements All right, so we do this Webinar every Monday Tuesday and Friday at 10 a.m. and So yeah, I lead this this webinar However, we have many other webinars and let me show you how you can find those So if you go to book map calm And then you go to the more button here and click on learning center. This will take you to our Learning center page. We have all sorts of courses and information a market mechanics course understanding how to use book map Order flow phenomena add-ons, etc. Scroll down a little bit more. These are all our book map streamers Okay, all our traders here. So you should find something in here that works for you that you like and some are every day some are weekly some are You know different markets, they're all different trading styles, etc You can scroll down a little bit further and you can find the calendar here. This is Monday So this is the all markets here just earlier. We had pirate traders Charles excellent Volume profile trader right after my webinar here. We have Paco if you speak Portuguese or in trade Brazilian futures Same time. We also have Tom B another volume profile trader After that we have Doug Doug options with Doug Looking at stocks and his proprietary way of trading and then we round out the day With the algo boys. This is only in our discord chat. All right So anyway, we have a jam-packed schedule as you can see all week long every day So you should be able to find something that you like All right Let's move on you can contact me at Bruce at book map on our discord channel or my Twitter at flow order 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 stanchal risk of loss and is not suitable for all investors past performance is not necessarily in Dicative of future results. All right. Good morning Everybody. All right. Let's let's jump over here. Let's take a look Now again, we can look at any market you like that we can connect to we have stocks futures and cryptocurrencies We always start off with the S&P and a lot of times we just stay right there a lot of people just want to look at that And that's what's requested the most And what's going on in here? Well, we've had some volatile days last week and today you can see that Well, what has happened here? We have an overnight channel You can see 839 930 cash open. It broke the overnight channel here Accepted higher Created a channel up here. It broke that at the cash open and where did it go? It reached the high liquidity that had been in here this whole time Hey, there's some in here here here and then up in these areas up in here around this most important area around this 45 25 to 26 area. Okay, and it did transact Okay, we can see the result after that high liquidity has transacted There is no more buyers or not many more buyers. We find sellers hit the bid pretty hard Hey, they go below the cash open swing here Get a little bit of a pullback and another impulse move down to the breakout of the overnight Structure here as you can see and now look at the buyers come right back in we're all over the place this morning You can see there's this, you know one one move up one move down These are big swings to night nice big swings over over 10 points each so and if that's the case well then You know this one looks like maybe it's kind of coming to an end Just because of the swing length That's it not because of the aggressors. We can see there's more buyers up here, but This is just we'll talk about this. We'll talk about When you put your trading plan together We mentioned this on Friday You need multiple inputs. It's these multiple inputs. That's going to make your trading higher probability All right, so and these are the they take to Start with one add another one and then add a third and start with something like this This is going to really make a difference And don't worry about, you know 10 or you know more than three inputs just just these three and Get really good at that and now you've got a pretty solid trading plan Okay, so Anyway, let's let's take a big step back here since it's Monday Let's look at the bigger picture and let me see if there's any questions that anyone has here so I'm trading for a living usually trading. Yes, thank you. I do my best to learn book map. Okay Yeah trading for a living then I would really highly recommend that you go here from book map calm To that more button here and then our learning center that'll take you right here This is where you can learn a lot about book map. Okay, how to get connected first And then getting started is how to learn how to use book map the features and components And then we have a course here on market micro structure And order flow in general. So in fact, you can take a look at it here It's this kind of information about like understanding price moves understanding not the not only the best bid and offer and the aggressor but Understanding the order book and the order flow as well and how that affects price And this here and this this is about as binary as you can get about the market You know someone hitting the bid And moving price lower in this case taking liquidity off of the best bid and that's where the transaction takes place Start to understand these kinds of details in here that can be extrapolated to much much higher time frames and We talk about this all the time and then you might want to You know go into some of the order flow phenomena and the add-ons and then to come to these events and ask questions. Okay That helps PC memory well depends on what kind of PC you have you should be okay You can you can go to the knowledge base And you can look up the specifications required There are you know minimum recommended and then you know kind of higher performance Does book map have the price ladder? Oh, yeah, well you see you can see our price ladder over here and we have a full Fully functional trading dome within the columns here. However, we also have an add-on That you can get when you subscribe to book map global plus And then that will give you access to the dome pro add-on here, right? So Let's enable it and then it pops up here now this is a is a high high-end professional dome trading dome here however, it is You know fully functional with all sorts of different execution in here. It is a separate Window from book map you can see that you know this floats around you you have your price ladder and You can start to understand Bids offers inside markets, whatever it is that you want to look at Dome the What I wanted to mention here about this was that If you want to line up the heat map with the dome you can do so in the columns You have to right-click in here and you can go to basically a trading dome here And then we can add this in Just the default dome and in the columns here. Okay, and you can see I had all my other columns are still in here But I have this one. These are all new this this this on down to last trade. All right, so anyway And fully functional in here. You can move these around and you can add in in between You know your volume columns and whatever you want in here. It's very very flexible I would recommend that you go to the Add-ons in here and then I Think we have information here on the dome within book map All right, so you can check that out Okay, and let me hide these columns now and let's let's look at the higher time frame And then we'll jump in here See what's going on in book map Okay, back to where we were and look at this look at this buying pressure so still still buying okay, so we did get a little bit of a pullback here and Here here come the buyers so you know back up to This liquidity up here, which is there's a lot of trading up here at this area, and we're still finding some buying interest here Okay, I'm really curious about this this move in here If we're gonna still see some buying activity take it up to 27 And then on up into 30 and in the third low 30s up in here. I'm still kind of waiting for that bigger pullback to be honest All right, this has been some volatility back and forth here in the market has really not figured out what I want to do yet All right, so anyway, let me go back over to discord. Sorry guys. I don't mean to Left you over here Good morning, Nick If book map works so well for trading and why do you guys have daily webinars highlighting your product? Almost as if you guys are more salesmen than traders then don't come Nick no, this is about insights using book map and to understand the How to how to use the platform it can be kind of tricky This is this is why Nick it can be kind of tricky Hey, because most people don't look at this the heat map. They don't understand the context of the the heat map which is the limit buy and sell orders and Then there's also the volume dots the volume dots in here This is pretty straightforward in my opinion, but others have never seen visualization like this Okay, and what does this mean? Well here we can read it right here. You can see these big green dots These are market buy orders and see the pressure in here. We can see it waning up here Okay, we can see we didn't make a higher high and we don't see a whole lot of buying There's some up here not a whole lot Right, so maybe we'll find sellers come back down and retest some of these areas where the buyers came in right? So that's putting context together And we always have traders in here Nick that are new so we're going to go over this and Really get good at understanding order flow and if you look at Other charts This is what you're going to be looking at most likely You know you might be looking at some sort of bar data and Well, do you know where the volume took place? Do you know what the heat map looks like? Do you know do you understand where the limit buy and sell orders are do you understand that context between them? And that that's why we're here Okay, and to really understand Like for example, let's just look at a simple candlestick right now Actually a candlestick chart looks kind of bullish right it closed up here. We see more buying pressure come back in here So I would if that's the case if you're candlestick trader, this is what I'd be looking for I got to turn these volume dots on really quickly here. I'm looking for buying pressure up here I'm looking for a breakout then and I'm looking for a retest back out back up to here 37 or I'm sorry 27 maybe higher. Hey now that's a candlestick pattern. What about the order flow? What about the volume dots? Are we seeing that? Okay, this is where you're going to get something out of the Looking at book map here. Okay, so what what is the conviction of traders? Well now we're getting some buyers now They're starting to show Okay, right. Is there still more buying pressure in here? Do we see the bid up underneath here? Supporting this okay demand underneath understanding the auction process here That's how you can get so much more out of your candlestick chart I would I would say like yeah, okay. Well, we see there's there's buying pressure here, but it's pretty dark underneath here Do you want to take that risk? Do you do you want to? You know place your stop right below here and buy up here I'm not too keen on that. I know that this is dark here that there's not a lot of equity I know that sellers can come in here and take it down to 22 and a half Okay, so and hit this liquidity here Right, so that is the edge in here, right now I'll be covering all markets in here. However, we have like I showed earlier volume profile traders We have crypto traders. We have Options traders we have you know all sorts of different that we have stocks traders We have Scott Pulsini who looks at just stops and icebergs in that context in here So where are you going? Where are you going to find stops and icebergs? That's going to be kind of hard to find So we're going to cover it in here is the responsible thing to do for education All right, so that should answer your question. I hope and Let's move on and get to this higher time frame. All right, we got to we got to get into the webinar here And actually I need to leave a little early today, so we only have about 35 minutes All right, so let's look at the daily over here On the on the right. I'm sorry on the left the hourly here in the middle in the 15 minute on the on the right Now this is higher time frame and what our plan is to understand the higher time frame zones in here And just understanding mark basically just the market structure because we don't really have too much else to look at in here We're going to read the wicks and what this might mean and the size of the moves, etc And maybe if it has some volume behind it, right? So you can see that well, you know this today is a It's within yesterday's or Friday's activity here as you can see but the That's a big day here. All right, so there's a lot of sloshing around in here that could that could take place Let's zoom into the hourly then and get some insight. So the hourly is actually pretty interesting If we look at it Because we've been looking at these gap fills in here. We noticed that gap fill Last week in here beautiful and that's when we got the rebound And we you can see here. We have another gap here right here on the higher time frame. This goes back to April Oh, I'm sorry, July 7th July 7th somewhere around there And You can see the gap in here or maybe it's the 8th or 9th. I really I can never quite tell here when these charts might be the 9th, but Something like that And you can see this big gap in here in the move to the upside All right, so well, uh, that that would be down here. The gap will be around 44 74 Let's go there. Let's go see what's happening here with current price 44 74 would be down here. That would be the gap fill here Okay And right now we're just in the middle of the range in here. In fact, we gapped up As we noted in book map um 15 minute chart here in the on the right hand side We gapped up. We have the high here at 28 and the low here at 09 Or 10 somewhere around there. So we can come back down into like 4502 or so and that would be the gap fill All right Okay, nick. Well, I don't know if you like the answer or not, but that's why we're here. We're here to support it's It's not about being a salesman whatsoever. It's about supporting Truly that's what the education is here for Showing value and supporting all right and And building community around that value Okay, uh, so let's see here Um, yeah, we're coming up to this high here. Let's let's jump into book map I'm I'm really interested to see if we can come back up into I don't know maybe 35 up here Uh, there's a lot. Look at this. There's just a lot of like empty space here From the move down. Okay, so, uh, this is bullish right now, but let's just see what what happens here. All right So this is where we left off, right? We're we left off with the candlestick pattern and reading the candlestick pattern with the order flow Uh, and the transactions and we were looking for a bullish move Okay, well the bullish move has unfolded 27 has transacted and we're going higher Uh, let's see if we can get back up into maybe 29 Now I want to be careful here because the the high here of the day Is um is just been made here. Okay, so at 29 right, so You know, are we we're going to be kind of careful here It's a strong move. No question. It's a stop run too. Okay. No question so, uh You know now now we have that information and And let's just take a look at the order flow so that everything else looks pretty bullish in here. How about the order book? We have that on our side here and Not not a little bit a little bit. There's there's some demand underneath here Hey, you can see this kind of bluish order book in here. That's not bad Uh, high liquidity is still up here only some of it transacted into 29 Okay, and there's still high liquidity here 30 31, etc. Let's see here Okay, so Let's see mdhc. I answered your um question there on the on the order book Yeah, okay. Okay. Excellent. Uh You guys uh, I answered some of your questions in here. Okay Andrew you say just wanted to say discovering the heat map. I'm watching the webinars has changed your approach To trading success for the better. Thank you. Yeah. Thanks. Thanks, Andrew I'm just reading that out loud. Um because um No, I very much appreciate it. Uh We're here we're here though to try to provide more value and understand the heat map and understand the uh, context here between The order flow and the transactions and and the structure Right. So, uh, anyway, uh, you can see what's kind of unfolding here like, uh Interesting move. Um You know, we're up at these kind of highs here, uh, and then very very few transactions here I would still be bullish in here and I see a little bit more up here Still be bullish in here. We know though we as we said like, yeah, there's some underneath here They're supporting it here at 25 not up here at 28 Uh, and now we're down at 25 and now the order flow has shifted and changed here And now they're bidding or I'm sorry, they're offering down here Uh, and then actually now they're starting to pull that offer And are they bidding on the other side here? a little bit Yeah, uh mdhc, um You saw that python, uh Yeah, we you can integrate book map in or we've integrated python within book map Uh, so you can you can program, uh within it Now there's an add-on. I can show you where that is in here um And uh, you just uh go to the um If you don't see it in your add-ons you can you can see it here. I've already added it But if you don't you can click on add or manage And then you'll you'll see it in there All right, so uh, you might want to play around with this, uh, and um That can answer some questions for you. Oh, thanks nick. Okay. Uh, just yeah Seriously here here to here to support you I don't I don't want to sell the product. I want to support it. Uh I think it has tremendous value. I believe in it. Uh, I have since I first saw it day one And I was a client And I I I couldn't believe it A friend of mine showed it to me he goes to check this out And I was like, no They can do that You know, I was just amazed it was like I had net, you know The dome was always so separated for me and it was just kind of esoteric Like what are these numbers and trying to understand the order flow within the dome? Um, it was uh was kind of challenging Uh, and then for them to take it into a heat map form and plot it not only on the In the live market, but on the historical market. So I have that context That was an eye-opener for me. Uh, and then um Yeah, there was someone who trained me About these markets, uh, and how they work uh, and You know really understand like the effects of the order book in here and at that time there were so many White papers out there. This was kind of like 2015 or so um, there were so many white papers out there by all of these Um, quants and wannabe quants that wanted to you know Have some sort of thesis so and to show uh information and data So that they can work for the banks. Okay, and high frequency was You know that was kind of at its at its peak. I think around then uh, and Yeah, all of them they talked about order book skew most of them they were About how that affected price right, so I mean paper after paper and this is really it was pretty high level stuff Uh, but you know just to understand this is an auction Uh, it's an auction process Uh, and it just makes sense Like there's people on the bid down here. Well, how many buyers are down here, right? This this is demand in economic terms Uh, and then this is supply up here. This is where they want to sell in between Uh, we'll we're probably going to just see it slosh around in here We're going to see buyers take it up to here sellers take it down from there, uh, etc This is the context we want to put together. Okay, not just for the small time frame here, but the higher time frame too Okay, so we'll we'll take the candlestick chart off which the candlestick chart We'll bring it back on actually we'll use that as a maybe we'll we'll kind of discover that a little bit today Well, maybe we'll go over candlesticks in a little more. Um In more detail, uh the um Uh, and that'll be our third context or another context to look at in here Okay, uh, so anyway the um Uh Yeah, understanding this this process in here is no different on higher time frames or lower time frames I mean you can see it here. Well, here's where the high liquidity is now. Is there still more buyers? Well, there's still pretty high liquidity up here Okay, so well if we find sellers then i'm i'm looking for them to take it maybe down into some of these previous areas Or way down here. Maybe uh 44 95 or 96 I guess 95 And that's where we are in the auction on this time frame now that wasn't you weren't able to see that before Right, which is this is great. Right. You can see when they came in here Uh around 845 they were kind of in here earlier The market and then came in again at pre-market. They've been in here since you know over 1,050 contracts down here Okay, and how many transacted here Let's take a look Well, what we had about Why is my svp it should be showing it I think I have it Yeah, I'm sure I have it reset resets figure resets That looks good. Okay. Um Yeah, so how much how much transacted over here? Well about 400 looks like Somewhere around there and then 200 up here something like that And that that's the high volume node right now Okay, and it's due to this liquidity. Uh, well, it certainly helps it. That's for sure All right. All right, so let's see now. Um Starting to start starting to find a little bit of uh selling coming in And let's see if they try to take control and try to uh go down to the bottom Of the swing here around to this liquidity here at 45 20 All right, so That's one scenario to take a look at here Again, like, uh, you know We're going to use the same process here Uh, the the offer's up here 28 the bid is down here 22 and a half That much we know Okay, we don't see a skew right now too much in the book. There's a little bit coming in here Uh Lower but it's no big deal Therefore fires want to, you know, try to attack this liquidity. It's easier for them to drive price up toward that area Okay, so we're gonna see though You're gonna we're gonna see someone come in here And disrupt the the auction right now the current auction and it's not Prohibited practice. It's just that Auction will change it will shift and it will flow And we will likely see Something like this like You can see we have a kind of a trend here Likely we're going to see something like this someone's going to come in and maybe offer here Uh, and then maybe they'll pull On the bid down here and that will be the skew that we're talking about Okay, and maybe the the new liquidity would come down here. So what does that mean? Well, if if the market's always seeking balance Uh, then it would probably come down to about this 22 and a half If this liquidity did something like this, right because the middle would be here Right. So anyway, just some ideas to keep in mind Let's clear our drawings here And we kind of left off again on the higher time frame and Yeah, so we just kind of peeked above here and you can see we have been sloshing around It basically price came back down And then came back up again and we're back up here yet again On this 15 minute candle All right, and we see more buyers still even on this 15 minute candle here Let me zoom in and just look at a little less bars here Not that less Okay Something like that. All right, so we can see this candle up here. So we're seeing a lot of green in here Right on the hourly two. So there seems to be some buying pressure still here All right, so let's go with that. We're looking for buyers Uh, and we're looking for the book to support it. They are pulling here. See them pulling Uh at 29 let's see if we can get more buyers and reach into this 30 Uh and 31 liquidity Okay, it's nice nice move here by the buy side. I just don't see the support underneath here Uh and uh, maybe we'll just get a pullback and we have to come back up and get more buyers again And we can also look at the um The size of the volume in here transacting Okay, and look at it over here So the we're going to look at the uh relationship A relative volume in here. Hey, there's a lot more buying in here that took it up Then this one up here This is how you can start to look at even double tops in here or are we looking for continuation? Right, so right now. Yeah, there there's it's not bad But it's not as strong as this and we had to go back down below all of this buying in here Uh, and now we're back up Okay, so uh, uh, let's see now. Okay, so on the micro scale Let's just take a look at this. This is looking good here. See the skew in the book see the uh buyers come in All right now be careful here be very careful because uh, a lot of times we'll get this move And then the sellers hit this and they take it to the downside Okay, but so far so good Right now we gotta we have to get more buyers though Okay, now we tested that liquidity at 27. Do we get our buyers? Not yet not yet We gotta see them up here around 28 or 27 and three quarters. There they are There's a few now. It's not that's not much. That's not enough. We need to see a conviction here They in fact the conviction looks more on the sell side here Okay, we're really watching this little area here. It's about a point wide All right. Do we got our buyers here? And not enough What I I it's it's tricky to read in here, but this is what we've got here We do have support still here at 27 And we have some sellers hitting into that now what there's a couple different scenarios We're going to look at now look at see more support coming in but but sellers are hitting it though They want that liquidity. That's that's what's happening. There's the transactions Okay, so yeah, we're not staying like unless we see buyers whip it away here very quickly which might be the scenario Then we're going to see all these sellers got it wrong. We're looking for the squeeze up into 29 And and and beyond 30 31 Okay, so now we're starting to get our buyers up here There's some exhaustion here On the sell side, so I'm looking again buyers here looking for it looking for it And let's see it here buyers. Let's see them take on 28 Look, it's it's not much to look at to be honest But yeah, we the biases as you can see it's unfolding But like the biases and then you can even see a little more support here So it looks good for hitting up into this 30 And 31 now we've gotten to the high of the day again. Now we need a bit more buying to break it okay, so the I know it's a little hindsight in here, but You know this this is where starts to look pretty good in here around this 28 and three quarters 28 because we had the exhaustion here We also have another component to take a look at this is important Another component is this selling here Okay, they're going to be the buyers up in here Okay, we're going to see a stop run. There's a stop run already a small one Just to the high of the day And this is what happens all day long Is someone gets trapped? Or many people get trapped and they they're compelled to buy or sell And this is what fuels a lot of the moves And then to see like if there's like, you know, larger higher time frame traders They're going to continue with that move to the upside Then then we can see it right. Well, we look for it. We look for them to come in But we look for some of this fuel to to burn ignite maybe the be a catalyst for that move Order book skew and imbalance is the same thing Basically ac and we're looking on it on multiple time frames I'm sorry multiple price levels Okay, so let's let's just take a look in here, you know, we're looking at, you know, like here's here's kind of like, um Just for like a couple points in here, right? This is more kind of market making type of uh, I'll I'll go activity You know, there's high liquidity here 27 also 29 and a quarter and Trading down here now. So we can look for a skew in here We can lean against some of this liquidity in here as well And you can see see how see how we're looking actually for this scenario here to disrupt it earlier And then where are they now on the bid? They should be down a little bit further Okay, so we finally got that that that was a good good look right here I that I was looking for that earlier. So the next area is down to 25 Most likely Just by the order book Just by the order book Most likely the move is to 25 that would be kind of a balanced area and is the point of control as well Okay, because the other liquidity is still down here at 22 and a half Right, so there's a there's our book in balance or balance on the higher time frame In the order flow here, uh as well as on the lower time frame It our our imbalance actually we saw it We're just looking right at it. We had it here And we had our imbalance here Okay, and what is it? What was the reaction? We found sellers Okay, this is key Find the sellers. So that's why we're looking for 25 And it just came shy of it and it's coming back up, but I'm still still looking for 25 Okay, again now this is not a trading room Uh, this is uh reading the order flow and applying Uh, what we see in the order flow to where price might go Okay going through these scenarios Uh is really important The more objective we can be reading the order flow in here and understanding what's going on by the participants behavior Uh, the more likely um The move will unfold Okay, so here's our move into 25 still looking for lower Actually, let's get down to 24. Maybe our this is enough here for reaching 22 and a half so Yeah, I mean I think it's going to be a day kind of like this here. We had our fuel here. We had the buyers come in Uh, and we were looking for the move back up into here I still thought the buyers had enough fuel here for a move up into these areas in here And it didn't it turned around And uh, we found some some some sellers come in here and again, we can see the order book in here There's high liquidity coming in here Uh, let me just reset this Looks good a high liquidity coming in here and then that was we're looking at that little range in here 29 Uh in a quarter and then 27 And then we had another skew here followed by sellers. This is where we got a lot of insight Okay, so that's when we're looking for 25 at that point Let me see if there's any more questions here AC did I answer your question this the order book is um, we can just go through um As we usually do normally do here looking at these three elements here Very very simple data Uh, it is just we're looking at the price structure Okay, you see it now. Well, let you know, we did this exercise the other day. So, uh, we've done it for years in fact Um, just take the volume off Okay, we don't have volume now. We're not going to lean on that. We're going to read this the order book in here And what's happening in the order book? Okay, and then understanding how price action relates to the order book It well right now you can see like, uh, you know, they're on the bid down here Uh, and we're kind of going back and forth. It just they just came up into price just came up into this liquidity here But they pulled now look at their underneath here a little bit and we and we found some buyers Okay Now that was kind of short lived or are they still in here? Yeah. Yeah, they're still here at 25 Okay, but look at the offer as well Now this blue area here, there's a skew in the order book on the offer now This is a hard read. I mean, they're they're they're here on the offer Uh, I'm still I would still look for the move down and it's 23 here. Basically Uh, but you know, they're supporting it here here as well at at 24 So, you know, we're not getting a lot out of it at the moment Uh, it Kind of bigger bigger picture would be the 22 and a half basically A lot of times it's just I mean today's this is the this is the condition for today So look at them support it here and they're 20 23 and three quarters 23 and a half on a bit of buying There's a skew on the offer at 25 see that All right, let's see if the sellers can now hit into this liquidity down to our 22 and a half Hey, we're seeing this this offer here And see how it's testing it now they're pulling Now they're adding on the bid right so there's another change or skew in the book here on this low time frame All right, so yeah, do due to that skew right here. It kind of disrupts what we were looking at And it shifted and changed Now now it's really up to the this is this is why we turn on the volume So we look for the aggressors to come back up to the top of the range here Okay after this skew here Okay Pretty good. That's a nice little skew ac. I hope that helps you Thanks, Kenji Really appreciate it guys if you if you if you like it, please hit the like button Um, anyway, um, yeah this uh This back and forth in here now now look at look at this now we have a context here Okay, we have a swing up here now. Let's look at the order book again Hey prices has come up here to this to the top of the swing and and then I what I wanted to say before this unfolded. I wanted to say is looking kind of dark here, right? It's kind of dark in this area. So we can come down here into this liquidity or maybe 23 and a half And you can see it did test down to here 24 and a quarter Okay, this happens all the time All right, so now let's see if we get it. Let's see if we um after testing up here And not accepting it rejected clearly rejected up here It we're back down to the bottom of the range It so now we're looking for a skew in the on the offer Then to pull on the bid and then we're looking for our Our um, well our 22 and a half and lower here Yeah, maybe we can come down to 20 Okay, so anyway guys like it so you can see what we're you know the exercise here is to understand the order flow Not the transactions. We're we have two two Elements in here and we're looking at the context between these two elements here First one is the price action with streaming best bid and offer Okay, that's one one element. The second element is just the heat map Okay, so and we're reading where price might go based on the Changes in the flow here in the auction by limit buy and limit sell orders Okay, and and then we look for these moves we go through the scenarios What if what if what if and then when we start to see that what if unfold Then we can start to look for where price might go Right and then that can help you with your trading plan right, so Um, let me jump back here and that nick. What what is your? Method for trading So We can go over that and and maybe put this context between These elements in here or the order flow Oh, thank you technos easter. I really appreciate it Um, really kind words. Thank you um When in heat map settings contrast large size highlight and brightness. Yeah, I would recommend that, you know I'll show you here. We kept the heat map settings in here if you right click on the heat map Or you can come up into this studies configuration And then to click on heat map I usually just use the the the default here a hit restore What you're talking about is the um Some of the advanced Settings in here If you go to advanced color map settings in here, uh, there's um Brightness and large size highlight We put these together because this was it was based off of a very um At this point a very old version of book map like version four. I think or three something like that Uh, and it was for a black and white heat map And people were having a hard time. We still have it. You can still use it here the black and white Uh, and the reason that we put these in here was because sometimes people really couldn't see the contrast Uh in here between the um And what we can do though is we can use these to kind of like filter here Uh a little bit better, right? So that that's the the advanced um Uh heat map settings in here I never use these the only time I ever use these is to demo them to be honest Right since we introduced the I think it was around version five or something four or five The color heat map in here that kind of um fixed it Basically because now we don't have to worry about a grayscale. We have color and the color a true, you know, uh heat map here, um is is is It captures that data that information All right Do you need level two? Yes, you do ross. You need to have level two for this Yeah, I think that answers your question. Um mdhc Okay, uh, thanks out louise for the support there. In fact, uh, I can give you the wrench tool Louise is a book map moderator Oh, I think I I gave it to jack and I can I think I can only give one Oh, no add um All right guys. So here this was after that big long discussion Uh, we were looking for the move back down into 2250 And then we still looked for that continuation into 20 potentially Potentially That has transacted Right. So and it's the bottom of this range here We're going to find some buyers or some profit taking I imagine at this point and we are right now And maybe some mean reversion traders as well I don't want to take it back up to about here Is uh, you know 24 or 25 let's call it Uh, and It's just a simple concept again in in in the auction market theory That uh, this is uh, a price level here That is really not too supported a lot of behavior By traders are saying yeah, it's not bad You know, but uh, it's not this up here. There's a lot more transactions up here People seem to agree upon the price up here. Therefore, this is a discount. That's the the theory behind it Right, and that's why you can look at, you know, you just look at these If you ever read your your Dalton or you know Stadelmeyer or whatever you know volume profile traders that uh, kind of You know founded the the process It's just really simple, uh, you know statistical bell shaped curve in here just understanding where price is accepting rejecting And the the problem that I I just I know market profile deals with it volume profile does not deal with Uh, as you cannot see in here when and where Uh, you just see it all aggregated into big blob Uh, so because what we want to understand in book map is We're looking for these big moves Uh, and when that move might unfold You know, you know where it might go is something else or where it might reject is something else Okay, but we can look at the vertical movement. We don't want to look at the horizontal movement. I'm going to look at the vertical movement Uh, and when that might unfold Okay, and that's where we're going to look at the order flow And we're going to look at the structure The smaller time frame structure in here, uh, and then we're going to look at the transactions as well Okay, so let's turn the transactions back on and uh All right, we're look at that context now If you're if you're struggling with this in the heat map because it Like I was I was saying earlier. Um a lot of traders they they they don't have access uh to uh I've never seen this before and now we book map's been around for like 10 years now Um, but uh, still it might seem kind of foreign We're really good at reading volume Uh and price action But now we have this other context in here The other side of the trade to really understand Repeat let's see my coach says Uh colors make you want to trade more. I like it. Okay Oh, is that something like a all the fast food restaurants are all yellow and uh in red and color Uh, there's something about that that Is appetizing Maybe I don't know Guys, I'm sorry. I wonder I I I see your your um People are putting their uh Posting their images in discord here. I won't be able to get to it until after In fact, I've got to go. I've got a meeting here. Um that I I have to cut this webinar short. It's an important meeting Um, so usually we go for an hour and a half in here I want to end up though with something important. So we're talking about context in here and we took off the um Different layers of context in here or different elements. So we can also take off the um The heat map and now we can just look at context of volume and price structure. Now, this is Really good view of the market in my opinion. Uh, you can really see these the context in here Buyers coming in okay sellers taking it down lower But look at buyers coming in and they're able to even trade up into and above this swing here So this could be a potential reversal Okay, now what so what are we looking down here for this is what we're looking for we're looking for buyers here right here Okay, and in fact what we would love to see is sellers down here now This is actually something that uh, and there they are there they are so let's see if this is a false breakdown Okay, we also have some icebergs underneath here Uh, and now we're looking for see if we can come back in here and get buyers and maybe trade back up to 25 Right, so uh, we have we're looking at this context and we're we're understanding Not so much the auction but the transactions Okay, where are people stuck? Uh, where are they? Uh likely to be to be buyers. Hey here they here. Let's see if we can get this here I'd love to love to see this in here and we have reasons to believe that this might happen because we have this We look at price structure and volume within it But we saw buyers coming in right so it doesn't take too much to think this might be a false breakdown And we look for buyers to come in and come back up to the top of the range Or maybe back up to the point of control Right Hey, we have our fuel here as well. This is another context to to read and put into the um Put into your analysis. Okay. Do you have fuel for this move here? right And uh, and once we start to see that then here's your here's where you put your trading plan together Do you get your buyers here? We did did get our buyers here Okay, so now we have fuel where at the bottom of range. We know that there's buyers up here already Transacting and interested so we're looking for the move to the top of the range Okay, so yeah, okay, so it's like, you know, maybe a two two and a half point move or so the con or The concept though is the same on all time frames Okay, so I would if I was in this I would I would be taking some off up here, but I would also be holding some Okay, because I'm still looking for a bigger move and the reason being is we have this buying this buying We have this fuel Okay, and I still see some buyers up here. So I'm looking for buyers now to try to lift it a little bit higher Uh up into here Okay, which I like uh, it kind of matches with that selling transaction up here Okay, so a little bit of a pull back here Okay, and my stop loss break even um And plus uh some so my stop loss would be up here somewhere Okay, and if I get stopped out, that's fine took some off top of the range Um, and anyway, uh, this is uh, this is what we're talking about in here Is the context now of just volume in price action Right. We also read some uh Stop losses here. Okay. So yeah, I got stopped out at break even plus one Uh on the uh, second leg of this took some off up here I had my reasons though. It was my setup. This is how I acted uh, and I'm out of the trade now Now I would recommend um, it depending on what kind of trader you are Uh, it's not it's not a recommendation room Uh, but uh, it's something to consider or suggest Uh to look at these three elements to put these pieces together Uh, and then add one more maybe maybe your candle. Maybe it's candlesticks Hey, maybe it's your volume profile All right, and uh, you you start to put this together in in it as well So, uh, you know would if if these candlesticks were, uh, your candlestick trader Is this something that you would be? Uh looking for it look it look how this closed up here. Now, you know If the candlestick closes within the range in here you're you're not looking for the breakout Until you get back up above the swing Okay, you can see that this did not get back up above above the swing Uh, and it is traded back down here All right, so, uh, anyway put another context into here is what i'm saying Uh, and now you've got something that will that should give you higher probability All right, so it's a suggestion. It's a starting point For really getting into some of the details here that should allow you for a higher probability Um, a trading plan, you know really optimize your trading It and the reason being is simply just because you can see the other Uh, participants much much clearer in here. All right Oh, thanks guys really nice comments today. I really really appreciate it. Um, and uh, so I've I've got to go I'm already late. They're gonna be mad. Um, so I take care of you buddy. Uh, let's see. We have paco tom b Um Doug and algo boys later uh today, so uh, stay tuned for some good stuff a little bit later. Okay. Thanks guys. Yeah, take care