 Good morning traders and welcome to the book map trading webinar. This is Bruce at book map Good morning traders and welcome and so Sorry about that being quite late in here today. I could not make it until now. So anyway, we can get started and at least get maybe about Oh, I don't know more than half an hour in of live analysis before having to to stop so anyway We do this webinar every Monday Tuesday and Friday 10 a.m. And let's go through the disclosures and let's just jump right in General disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice Nor recommendations risk disclosure trading futures equities and digital currencies involves substantial risk of loss It is not suitable for all investors past performance is not necessarily indicative of future results and Let's jump in. We're looking at the S&P e-mini and What's happening in here? So well, let's let's take a look here. So we'll go back to the Demo or the I'm sorry the Default levels here for the heat map and we'll take a look here Okay, all right. So well, we can see that a few different data points in here 830. We had a Retail sales. We have the cash open here interesting cash open really interesting And a lot of selling up here and then a beautiful squeeze to the upside into these higher levels up in 77 went up as high as Around 88 or so and then we also had the University of Michigan consumer sentiment data We can see this, you know, pretty dramatic move to the downside now Two lows of the day now. Okay, so let's just take a look very simply here at market structure And I'm gonna I'm gonna dim the heat map just for that purpose Just to make the point that in terms of market structure What are we looking at here? Okay? Well, we want to look at areas of consolidation And breakdowns and and breakouts so we have an area of consolidation here and we have our breakout now You know it came up and you can look at also a range up here And it broke out from there And we can take even that range here and then we see the breakdown It retested Back down into here. Okay, and it is below it here. All right, so this is bearish market structure wise no question and Now we're looking for more sellers to hit the bottom of the bid here and We're just they're just testing that right now. Now. Can they move it? Do we see enough sellers here to trade not only into this liquidity but through it? And then we're looking for the move to 50 down here Right now. I don't see the sellers so In fact, some selling just came in But we see a little bit of buying in here now be careful in here It's this is we're talking about gaming these areas in here It's not so straightforward. So these buyers in here if we see more sellers now We're looking for a stop run to the downside. So I would be looking for that and We just traded into this high liquidity here at 55 now For that to happen. We got to get more sellers here again at 55 And I'm looking for them to take it lower than if we don't in this scenario here And we start to see more buyers. This is absorption here. Well, then we're looking for move back up to 58 Or maybe even 61 here, right? So this is really what we want to understand here now Like for example, these sellers in here Well, they're gonna be Buyers up in here. All right, that is the scenario that we're covering Now maybe they it never happens. Maybe we just get more sellers here That's another scenario. If if so, we're looking for the move down to 50 All right, so it's these different scenarios that we want to ascertain or we want to go through and cover and then look for something That really kind of hits us over the head and saying wow Now we have something in a setup if we don't have something then just don't take a decision Right if it's unclear Why risk money on something that doesn't give us clarity? and that's one of the nice features that I think bookmap can offer is By understanding when to trade and when not to trade like down here our scenario didn't really quite unfold So and and then up here. Did it really unfold? No, it didn't either, right? I don't really see Anything yet So, you know, I'm I'm waiting and watching until I get more clarity on this On this level and down here around this 55 And you can see it's in a small little range between 55 and 57 right now so so anyway, that's kind of currently what we see here and That's about it. Nothing more to kind of discuss. We do see some stops and icebergs icebergs selling in this area here And also stops to the downside their You know sell stops being hit. All right, so anyway the That's kind of current market now let's zoom out though and let's get our kind of bigger picture perspective and understanding here, so And in fact, what we're gonna even take a bit bigger step back and look at our candlestick chart It's been some really good price action lately. I Feel you know, we had a lot of data this week we had the FOMC as well as the Well, we had non-farm on last Friday, but then we had CPI We have retail sales. We had PPI and And then this consumer sentiment, but you know, that's an it actually had an effect on price quite a bit, but The CPI data numbers are huge. I mean that really matters as an event So anyway, we can see this move up from you know earlier in the week I some back and forth in here in this range here. This is the daily chart over here on the right-hand side And then we see a wick up here earlier Well, we went up to that wick broke it traded right back down and closed into the range Went right back up on a strong day here Yesterday and then it closed at the highs up here. Look again up here today Above the wicks back up into these wicks up here, which just means That there's no buyers up here or there are sellers up here or a combination of that that Whatever it is. We're not finding a move higher. It is rejecting Above the range here and we're back in the range here. Okay, so now what we want to understand is well Where's it gonna go? If we still see more sellers in here than on this daily chart, I'd be looking for maybe the top of these wicks Our 4150 area looks pretty good As just a starting point to test Maybe it can come back down even further. Maybe it maybe it just retraces this whole big move and comes back Comes back down to 4120 or so down here so let's look at the hourly chart here on in the middle and Yeah, I would look for a kind of a bounce off of these little ranges this one first which it didn't really bounce And then and then this one here next which we do see a little bit of a bounce. Okay, so Now let's just cover a scenario in here of what this might look like a morning Rob What this might look like a morning Tony and Pedro others So again, my apologies. I kind of got double booked. I couldn't make it to the webinar So what but we're we're going now and we got about a half hour left so at least we'll we'll be able to cover some stuff in here and Look for some follow-through in some of these moves if we can get that So yeah, we would we'd look for a bounce in here, which it is doing Okay, but this is a pretty big red candle on the hourly I'm looking for a retest then back down to the lows And then maybe we can if we get that retest now what we want to understand on this hourly chart is Do we see sellers down here at 55 a lot of sellers? They will break the bottom and come back down into these lower levels in here So now what that's what we're looking for in terms of Transactions, so let's zoom in here and then let's cover The transactions. I don't see them yet. It's really back and forth. This is nice little move here Totally upended back to the top of the range and it's still kind of doing this back and forth in here, right? So now let's go through what it looks like here Look at this area where the buyers came in and we're just testing it now Okay Here's a scenario that we look for If we can get a lot of sellers down here at this 57 level Likely we'll break and pull away come back down not only into 55 But likely down lower into 50 or maybe even lower All right, so don't see it yet But that is one of the scenarios And we're looking for and we're just talking about transactions right now. We can just dim the heat map We're just talking about transactions. Okay, we're looking for where traders are Transacting and we didn't get that scenario at all. In fact, look at the sellers down here very few and look at the buyers here So actually I'm looking at for these buyers to retest back up here Maybe they can get back up to 66 or so up here, right? if we get enough buyers in here and We're kind of we bounced out of that area in here And we look for that scenario Which also is not really playing out. We see some buying in here Then it kind of just really tapers off And and them sellers what I'm trying to get at here is look for these areas in here Okay, we can see it I can go through it again and again and again. Look at this Back up above it and look at that. Okay, so this is an important level in here around 60 Okay, you can even see it bounce here and then trade through it. Okay, there's another one here here and Now we're looking for the scenario of this Okay, if we get our sellers here Right, so that is a scenario And do we see it unfolding? No, we don't not yet. It's just not ready Okay, so in fact, we were going through another scenario. Maybe we're gonna get big Green dots up here and they'll pull it back up to the top of the range Okay, that is not played out either. None of these have I'm still looking for the sellers here And let's see if they can do it now So you see how we're not getting any site. It's just they were not gonna get anything And this is likely just gonna break really quickly And now you could jump in just like a market sell right now And now I'm this is not a trade recommendation. All right I do mean need to make that sure that that is said and but Ways to kind of catch this is what I'm trying to get at is we don't have the insight until We see the selling at 57 Okay, and then now we have some insight All right, so and now look at it here. These guys might and I would be caught up in it as well If we get buyers back up above, this is a false breakdown of our area Okay, so they already retested it here. I'm we still see sellers here. So I'm still looking for this to go lower All right. Now. We're just talking about transactions and market structure here All right, and we didn't know and what I wanted to cover about why You know you could jump in here is because we didn't have insight earlier We didn't really know we don't see that that scenario unfolding. We didn't see the the big green dots up here We didn't see the big red dots down here We see the the move down. We're at the bottom of the range. We're looking for our red dots. We're looking for them Here they are. That's what I want to say And this gives us some insight that we will likely go and retest into lower areas here Okay, and so it has already in fact, it's tested lows of the day here. All right and Yeah, now Let's let's just We'll continue on here and I want to talk a little bit about good morning. Jang I just want to talk about some trade management in here Because there's been some questions about that recently and instead of just doing live analysis and whatnot How do you actually, you know Make some money out of this in here Uh trade management is a huge part Okay, and a lot of people don't talk about it very much risk reward and trade management Uh at this lower end in here. We kind of break it here This is a good area in this area in here. I like to get in front of it actually and take some off All right I want to see the test down here We may get follow through to the downside But at least at this this is a higher likelihood of a move to retest this previous swing here And then we can consider managing the trade here by taking some off Now if you're trading a one lot or you're an all in all out trader Get out There's your trade It's just a higher probability or a higher likelihood that it will come back down into this area And you can get out now if you're more of a longer term trader Then you wouldn't be worried about this move back up right And um, uh, you you are look you're short you're looking for shorts. That's it Right. So this is more of a pullback Back to a structural area that we broke earlier Right. We've just talked about this this area breaking And here it is retesting it back again All right, so Anyway, these are some trade management considerations and then Maybe You know your stop is at break even. Maybe you got stopped out here On the on the rest of it, but at least you gave it a shot to run And you look for the next one lots of different ways of looking at it. All right So I just want to make that clear and Now we've been looking at and going over this trade management idea here or concept or example On without the heat map and that's not good So we want the heat map the heat map gives us a lot of insight So down here, for example, is there high liquidity and did it transact and there was some pretty high liquidity in here They pulled it away from the market It came back down. It did trade down here and we see a beautiful stop run as well Okay into this liquidity down here 53 and a half 54 All right, and and now look at this area here guys So this is uh again same ideas that we were just covering and same concepts This is our stop run down below here And then looking for the buyers in here or above these areas in here, right? So we can go back to this line here at our 57 and a half. Do we see buyers back up above it now? We're starting to get it Yeah, so we we may still get and I don't like this one Because there's not I don't see a lot on the bid underneath here Right. So if anyone wants to sell and hit the bid really quickly and dump They can right back down to here or back down into these lower areas. Maybe 55 Okay, now if we had a scenario that we had these big green dots in here, they're bidding up underneath They're pulling on the offer then that would give us a much better feeling and understanding of the auction in here That we come back up into 62 or maybe even higher maybe 64 65 Okay, so uh a lot of back and forth in here So far right and we're looking forward to move On this one, uh, it didn't it came back It's still may though Okay, our our line here Looking for control above or below this area is still unfolding all right All right, that was a lot. Uh, so hopefully, uh That was understandable if not I can go through it again in more detail. So, uh, You know, we're trying to understand these specific levels and scenarios around them to see mr. Greens Well, what do you make of the heavy selling near the lows? but No follow-through on the on the bottoms. Yeah, you know stop runs trap volume, uh, etc so, uh This this is a it's a really good question mr. Greens Um And let me let me talk a little bit about that in terms of pure price action Okay, because and let's just delete all of this We know that our line was around 57. That was kind of a key one and then another one up here at 60, right? um And you can see it hasn't broken above 60 now watch this though if we do get our buyers up here above 60 And this this is starting to kind of do it Uh, uh, we see, you know pretty pretty strong volume in here. Um, but we got to get our follow-through in here I don't really like it. I do see them on the bid here at 59 and a half. I still don't really like it in here Here's why mr. Greens. I'll answer your question uh is Usually typically like we're just seeing this kind of back and forth activity Above and below these swings or these little Pivots that we're identifying here in the market Who's taking control one way or the other? When we see a move Uh, and it moves away from a value area. It is significant like up here Right, look at the look at the volume and look at the move here Like these are sellers moving away from and we don't have a really good kind of structure up here It's not bad. Uh, let me just uh, let me just get rid of all of all the drawings here and redraw it um So the Our kind of level is up here right you can look at it from here over And it's all of this up here Is a value area. Here's our profile Showing our value area. This is where the most transacted was up here Okay, so we know that level Most transactions took place around there around 86 or so Look at the sellers at the bottom edge in here Now look at the sellers driving it away in here. This is what we're looking for And we're not looking for it just to transact down here and then come back in It's just going to move away and it's going to move away quickly. That's what we're looking for And we're looking for strong consistent selling all the way through it actually was pretty strong and consistent from up here So you could look for that to at least take some off at the bottom edge uh, you can even Then even add to it And again, like it it's not a trade recommendation. Just consider your trade management It's telling you something and you can take advantage of that All right, and you could look for a move back down into Well, I would look for the first move down into this area here Uh, and when back a little bit further down to the swing here around 65 I would also look for areas of high liquidity in here for it to test Or transact into and I see one here, which is pretty good and a few down here, which are pretty good And I would look for those areas. Uh, now I would align that as well Uh, uh to look for this here Okay Let's see that I look for um It was the first area. Yeah, my first area was here, right? So let's just uh put a line in here Okay, uh, and now let's let's align that with high liquidity Do I see high liquidity at the area that I'm interested for the market to come down and test? And I really don't here, but I see some here So maybe I would I would exit some here Right maybe Uh, and uh, especially after, you know, I'd probably front run here and I see some buying in here Yeah, maybe I would consider that Uh, in fact in here like you can even make an argument for for adding back into it, but um Uh, anyway the uh what I'm trying to Cover here is starting to understand the um The liquidity at specific areas Okay, uh that are important. Uh, and um Yeah, uh, can I explain more about stop runs? Sure. So we have an indicator. Um, it only works with cme group instruments and um Hold on just a minute Okay, uh, it only works with cme group instruments. Uh, and you have to have rhythmic data Uh, but if you have that combination, uh, then uh, and you have the the stops and icebergs add on indicator Uh, that's sold on our book map marketplace. Then you can access stops and iceberg transactions stops are simply an order type when you Uh, you know place let's suppose you get in long, uh, the market Uh, likely you put a take profit with a limit, you know sell order Uh, and then you also have a sell stop order below All right, so uh now Uh, you're you want your stop order to be um a stop loss a market stop loss basically So if that area is touched it immediately executes Uh, and uh with market uh sell order Right, it protects you because if you use a limit at that area, you it might go through that area and you never get um Filled so, uh That that's pretty big risk. Uh, and that's why most people are using stop loss or stop market orders Uh, we can read that transaction. Therefore We can look at this data and start to understand that Uh, it's usually smaller players using stops because they don't have larger accounts Uh, and uh, it's better to get stopped out with a small loss Uh, and uh, look for another high probability trade in your direction Take that uh, and uh, just get in and out of the market Larger players can't do that, uh as easily It's much much more difficult. So a lot of times what they'll use is a, uh, a limit Well, they use limit orders, uh, and they can hit hide some of those limit orders using icebergs okay, so um a limit order uh would Uh, we see those here in the in the heat map. Okay, we know that these are likely larger players like down here around this 46 level here 47 no, I'm sorry 48 level And uh and up here at 65 so, uh, we also know that There was some pretty Let's just zoom into this area because we do see some icebergs getting filled here. Uh, they're getting filled right here It's because they're on the on the um on the offer Right, and they're getting filled in here All right, I know you didn't ask about, um Limit the uh hidden orders. So we can go through the stops though. Uh, there's a stop run in here Right, and we'll go through the evolution of it Uh, I'm just fascinated by it still. I just don't get tired of it. Um The uh, here's the we'll look at exactly what happened in here Uh, and look at the stop Stop run. Okay a stop run is multiple uh levels. This is actually really not a stop run um because Uh, the stops well, I guess they I guess it is, um Uh, but the stops only transacted here at the bottom of the range here Okay, so Here's what here's what happened Looks to me like, um Larger player came in here Hit market sell They swept the order book through these areas of all this liquidity in here and there might be stop orders in here Your stop order Could be up here. It could also be here Whatever it is whatever stop orders are in here. They transacted after This larger players order transacted Then the stops are filled and 40 of them are here and whoever was in here Uh, they got slipped, uh, and they may have put their stop loss up here at 61 and a half But they're going to get filled here At um, uh 59 and three quarters. That's what happened Yeah, we should Tony we should make a um, um A Course or you know a series of webinars just on understanding stops in icebergs And then we can refer people to it. I I agree Yeah, guys, actually, that's a good point. I want to show you something in here We just launched this today Uh, really excited about it. Uh, so, um Uh, if we go to bookmap.com Okay On our website click on the more button here And uh, it's right up here learning center Okay, click on that it'll take you to a new section in here We have new videos on getting connected to book map Hey, there this is getting connected to the platform you can open this up into Stocks and futures connections for rhythmic dx fees cqg omni feed, etc And then crypto exchanges down here And there are many in here guys, we've been Really wanting to put this together for a while and really happy to do it So you have these connection videos all here you have a new course Getting started in here how to learn to use book map click on this Okay, uh, and there's the course here. Okay, so, um It is uh, there's an introduction. There's adding symbols chart navigation displaying different elements volume heat map Uh columns I need to add some more in here. Uh, also the Subchart and widget panel and trading videos down here. So we have them all in here guys They're very short videos So you find what you're looking for you can search up here in the video search and You know, let's suppose you're just looking for uh, uh, you know volume dots Here you go Very very quickly volume dot display volume clustering volume filtering volume bars Etc cumulative volume delta Okay, uh, and then uh, yeah, let's do that and see how this takes me right to that video here On volume dot display. Okay, so very very happy to release this to you guys Uh, so again to find this, uh, you know and play around with it. This is the first time that Anyone's seen it so, um Yeah, click on the more button and it's in learning center here Hey, we may change the name to education, but it is learning center right now Uh, and then also another way to go to it. Uh, just click on education here Uh, and then the link is down here Learning center click on that that'll take you right to it as well Okay So, uh, uh, mr. Green's there's probably you probably have a lot of questions on this stuff There's the market mechanics course in here. Uh, this is our older course. It's four parts You can very easily access them here though Okay, you have the breadcrumbs there to go right back to these areas very very quickly as well Uh order flow phenomena videos in here, uh, you'll see many Okay, uh We had these these are older as well on on our youtube channel, but we have them all centralized now All right, we can go back here, uh the different add-ons go to the add-ons section in here These are all the different add-ons that we have in book map And they're all centralized Um The insights go to book map insights here that'll take you outside of the learning center and into the book map insights page here to look at other people's analysis and trades Just one more thing I want to go through in here We're still, you know adding to it and building it out, but it is released You can see some of our educators in here. Uh, and then our calendar Please go to our calendar. Uh, this is what really the central point here for all of the events Okay, you'll you'll see, um the Like for example today earlier today at 8 30 east coast time Rain was covering the crypto markets here. Uh, I'm going over the, um All markets here, uh, and then right after this in another five or 10 minutes We have a tom b and the traders lab going through his volume profile Uh, and then right after that at 1 p.m. Uh in spanish, we have, uh, frank morano, uh going through, uh The the markets in spanish, uh spanglish trades And then uh, uh dug with options is at 130 And then we also have the algal boys here, uh rounding out the day until the close All right, so you can click here Uh and look at the next week as well. Uh, we have some great events here as well. You can see Uh same kind of lineup in here, but we have a new streamer right here pirate traders All right, so they're going to be every monday at 9 8 9 to 10 a.m Uh, and then we also have Uh Here stocks with Fausto Fausto Pugliese or a Puglisi Is here, uh on on monday. Okay a pro trader webinar event All right, so they're all here, uh, you'll even see some, uh, indian events up here Very early in the morning or the indian market All right, uh, and then you can you do see some other links in here to some of the social media stuff As well All right, so that's our new learning center So have fun with that. Uh, give us some feedback on that, please Okay Yeah, wolf. We're pretty excited. Um, we've been wanting to get that together for a while Let's see. Mr. Greens. You have dx feed. Um, yeah, it's it for cme. That's fine There is a difference between dx feed and rhythmic though The data is high quality, uh For both, uh, however, um, rhythmic, um Offers a uh something rather unique That dx feed it does not at this time and that is the market by order data Uh, and that allows us to see the stops in icebergs. Okay, you need to have rhythmic Uh, now what you also need, uh, to Uh, let me show you here Okay, you also need to go to bookmap.com again Uh, you need to go to the marketplace and purchase the add on here So it's under the more button mbo bundle click on that That'll take you to the marketplace here. Uh, and this is where you get mbo bundle and trader map pro It has the stops and icebergs in it. Uh, this is what you get down here Okay stops and icebergs sub chart on chart liquidity tracker pro and trader map pro Uh, so you will need that that's 134 a month Okay, uh, if you are interested in getting stops and icebergs Uh, so uh, yeah anyway, uh, just a note and on this dynamic guys, how many times have we seen this this last week? It's it's kind of, um Kind of wicked stuff. Uh, we get a larger player dumping clicking or you know, uh Initiating some stops stops are are filled and then It's been Likely the same player likely is getting filled here on the offer after their move with 600 icebergs Okay, that keeps the market from going back up And actually it didn't. Um, it the the best offer did sweep up higher here Uh, but no one filled or you know, no transactions took place until here And there's another stop run in here, uh, right after that. It's right in here Okay, um, I'm curious if maybe this, uh, larger player is getting some Taking some stops. I I really doubt it, but here's the evolution of this stop run Okay, so we see the move up And then we're seeing multiple stops on multiple levels here Hey, it trade stops traded to transacted on 60 and a quarter a half and three quarters for a hundred altogether Okay, so uh, uh, yeah Um, that's another stop run. So some some pretty wicked, you know Fast moving action in here. Uh, that all took place and literally I get and we're looking right at it here Uh In about a blink of a human eye All right, there's 200 milliseconds and that's what this is between here Uh, 11 13 48 000 11 13 48 200 All of that activity that we just covered here Stop run sweep of the order book by a larger player into high liquidity stop run Uh, uh an iceberg on the other side getting filled in a small stop run or another stop run to the upside here All took place very quickly within a blink of an eye Okay, literally So, uh, uh, interesting interesting stuff All right, uh, but now we can understand what's happening in these markets Okay, the information the data is there All right, so what's happening here? Well, this has been quite the grind, uh lower And uh, we weren't we were looking for the sellers to take control down here. They Didn't um, but we don't see a lot of buyer. We do see some buyers in here, but the structure held so we're seeing now we're breaking the structure to the downside again, uh and Yeah, I'm not seeing a whole lot of selling down here yet Okay, so anyway That's kind of what's unfolding uh in this market and uh, Let's just take a step back. Look at our bigger picture again. Uh, you know, we've still seen this move. Um Or momentum here to the downside. So that's what we're likely looking for But we're looking for that move into, uh, kind of 50 Uh, I think we covered that on the daily chart. Yeah, around right around here around 48 50 something like that Uh, and it does align on our 15 minute chart on the right our hourly chart here in the middle And our daily And so we'll see if we get that follow through but looking for something like that Um, all right guys. Well, if uh, so I'm so sorry about being late. Um, um, I you know was uh, I could not make it So at least we got something in here Uh and get got going and uh, thanks, uh, tony for the uh suggestion on that We should do that course on stops and icebergs exclusively, uh, so Uh, yeah, we'll wrap it up here. Tom B starts so you can jump over to that webinar if you like And uh, he'll go through volume profile and how he trades the market And reads order flow at his levels of uh profile Okay, so, uh, yeah, please hit the like button guys Before you go that really helps us cover more and more education like this. It Presents an argument, uh, that uh And we really appreciate it. Uh, so that we can cover This information more for you If we know that it is working, right? So yeah, please hit the like button. It doesn't cost you anything And it helps us Okay Yeah, thanks everybody for coming. We'll wrap it up and call it a weekend. Have a good weekend And uh, we will uh, catch up with you on monday at 10 a.m With the markets. Okay. Thanks for coming. Bye. Bye