 All right, welcome everybody today. We're going to go over defining structure in the markets Not structured defining structure, and we're thankful that bookmap is Hosting this webinar and we're going to get into our fact-based trading solutions Before I get into it Just want to go through the disclosure of futures Crypto trading contains substantial risk. It's not for every investor and Investor could potentially lose all or more of that initial investment risk capital is money that can be lost without jeopardizing one's financial security or lifestyle only risk capital That should be used for trading and only those with sufficient risk capital should consider trading past performance does not necessarily indicative of future results everything we go over here today is going to be for educational purposes But using risk capital is key because if you don't use risk capital you're going to make emotional decisions and that's going to ask your trading My name is John Slazas from Dharma Capital Trading I've been in the business for over 35 years had a Have and still do have an analytics company and supporting traders Through my career and trading the markets started on you know in the pits and onto the screens and got involved in crypto in 2013 and really heavily involved down when ether came on the scene. So if you you want to get a hold of me You can get me on Twitter We're on our YouTube channel We also have Our bookmap discord channel and everything we're all about is fact-based trading You know, it's it's really about having a real good baseline. So what is fact-based trading? It's you know making decision based on objective data and analysis, you know to reduce Speculation and subjective biases, you know focusing on the facts. What's true? What's real? When you know, what's true and what's real you can make better decisions your body knows it your body knows the difference between making a subjective decision and one based on knowledge and facts Just how we're wired and Dharma Capital has you know a few resources to support you with and I you know welcome you to go to our website Dharma capital dot trade and and Take a test drive on our analytics Which is going to help you standardize your decision-making process our applications will help to normalize that into your workflow. So be seamless and Participate in some of our other webinars and trader development programs And that's going to help to optimize your tactics the tactics for you You know what your tactics are not somebody else's what you've developed and how do you optimize those tactics and Our method is pretty straightforward You know we are always defining what the context of the state is what are those characteristics? What's the environment and then we look for the alignment of structure points where that context will change? You know, so what's the environment? When is it change? You know You're in your house It's all nice warm cozy and then you walk outside and it's raining, you know, that's your inflection point is your door You know markets are the same way. Where's the inflection point that turns? that The characteristics of the environment to the state and then you can then it's you rely on your expectations So if we have this specific context in specific state, you know, it's an if then proposition You know, what's more likely to occur? You know, so we are aligning our expectations with our trading decisions and The results of this You know by you know adopting a objective viewpoint, it's going to improve your confidence Which is going to improve your consistency and your self-awareness and this is going to reduce your stress and elevate your performance You know sticking with a statistical baseline and integrating factual Data points into your decision-making process It helps to standardize things. It's not you know one day to the next You have this sound structure to work with and so in this presentation. I'm going to go through some defining Structure terms and then we're going to get into the some live markets and go from, you know top-down high level to the microstructure So using fact-based structure for proactive risk management and to anticipate opportunity So proactive anticipate You know that that those are terms that define success and trading you know reacting Thinking hoping those are not So if we're not able to anticipate we're we're way behind We're not going to we're not going to succeed. You can't wait for reactive indicators You have to be able to be have awareness of what the context is Where that context is going to change What's more likely to occur? So you can anticipate opportunities in the moment and so I want to go over a few things and you know everything We do is about building your foundation. So you know instead that you know diving right into the market and Going through this. I want to make sure you we lay the proper foundation So you understand what what structure is and how we define structure and you know There's so many different opinions out there and that's the problem, you know, there's too many opinions too much subjective Bias and so we're going to go through the fact-based approach You know, we're going to talk about price structure We're going to talk about time frame structure And we're going to talk about market structure and then we're going to go and apply it So a common perception of price structure So price structure is Is You know your price action market Moving making higher move highs higher move lows. This is just classic Interpretating reading a chart and That's that that's valid objective data Now with crypto You know since you know a lot of these markets, you know are thin They don't have as many market makers in them. You do get price aberrations But fact is a fact if you're trading on a specific exchange, they traded there. They traded there But you know defining, you know price structure and basically to me That's just you know identifying those those peaks and troughs is the market building higher move highs higher move lows or lower move highs Lower move lows and if it stops doing and then if it is it's in a trend position So here's a negative impulse where the market is you know This this shorter impulse is working negative structure and and on a bigger basis We've you know, we've kind of double bottomed here in this picture, you know And so where where are those key? Structure points that that that will change and those are important absolutely the problem is when we start adding Subjective indicators to it. We start identifying this high or that low creating, you know trend channels and in more technical tools and Confusing things what's true? What does that alignment? You know mean the big the big thing about price structure is just You know, I got the high low game. It's a is it is it working higher working lower? It's just a tracking the momentum and that that's that's that's the base foundation as you move beyond that You have to recognize you're dealing with something subjective and that's going to change things because that's your opinion So again identifying trending higher high higher low lower high lower low price structure is a valid objective tool Especially on higher time frames, you know as you go into the interday You know five-minute chart It's it gets real slippery because that's a time frame that the major funds don't really participate in You know, they're just they're executing at that time from you know, they they only really care about the day You know, they're more backed out on higher time frames But you know, they do care about the clothes and they do have to execute during the time But you know, so these interday interday price structure Take it with a grain of salt and don't weigh on it too big You know because when you start and then conversely if you're incorporating technical analysis It reduces the validity of the overlay by the subjectivity, you know And that's going to get curve-fitted based on your cognitive bias, you know What's in the background? It's hard if you have a position on for sure You're going to draw it the way you you see it and the way you see it is what's beneficial to you So having an objective tool is important. So time frame structure, you know That defines the parameters of the trade period which aligns with fund manager benchmarks So this is this is you know, if we take if we're going in levels of importance, you know And as you're making your trade decisions and you're valuing how do you value an opportunity and value an opportunity is big Because if we we don't have different value And we can't standardize it. It's just how did we wake up in the morning? We're going to trade big or our gut feeling, you know It needs to be you know aligned with facts when we trade bigger And so we we need to build, you know a foundation of what are the bigger truths? What what's more important? Well time frame structure is going to trump price structure and This is something that gets overlooked by so many people and it's so important and It's you know really just identifying the you know What is the high low last and midpoint of the of the previous trade period? Because that's that's what really matters to the the money that's really moving this market, you know and looking at it in terms of How the last for the day the week the month Quarter to year And where's that midpoint and the kind you know would give you just a general bias between How we're performing the previous period to the current period and so I you know just using those acronyms You know here's an example with on a monthly time frame structure You know what's the previous month high close midpoint low and you know using these acronyms and This you know identifying this time frame structure, this is going to provide us insight to anticipate opportunity and Proactively manage risk You know by observing, you know price movement across various time frames You know observing price structure within those time frames within that time frame structure You know so getting a you know having a sense and laying your foundation, you know and taking it You know a big step back. What's the yearly previous year is high previous years low? You know, this is a picture of Bitcoin You know we closed on the previous year's law and close or you know right together. That's that's interesting Because that's a good momentum level, you know just natural You know and where's in the preview coming up to you know, we've gone through the previous year's midpoint So things are you know getting interesting. What's the quarterly time frames, you know, how you know Where are we in relationship to that? It's just the monthly time frames, you know, and really, you know, what's your time frame from trading, you know And if you're daily, you better know the daily, you know You better be aware of the daily time frame structure. You should know the weekly too, you know the week is it, you know weekly trading is A great structure, you know each day is unique And a daily structure and how you know how do these different time frames overlap on one another and that's where you start To see alignment, you know, this is where the alignment starts to come into play And you know, why is this important to time, you know, time frame structure is important to fund managers? Well, it's the it's the benchmark for their performance You know time frame structure provides fund managers with objective factual benchmark, you know enabling Precise evaluation and comparison of asset performance across distinct periods, you know This is what they're marked to market. This is how they make their money This is what this is their tear sheet that they're sending out to their clients And it's it's critical So how do we harness this how can we use this time frame structure? Well, it helps us to identify market direction And you know pinpoints the alignment we can standardize our signal acceptance And it can help us to manage our risk So here's an example of you know daily time frame structure You know, we've got our our structure high Low Midpoint and close and so you know just as simple as this and just as again what we're doing is we're defining context, right? We're we're getting some granularity of facts. What's the truth? What's more likely to occur? So if we're trading, you know above the previous days high, what's more likely to occur is we're going to go higher If we're trading below the previous days low, what's more likely is we're going to go lower and if we're buying the market below here We need to understand what those risks are and those risks are different. So we want to risk less You know, if we get a signal getting exhaustive signal here We want to risk less because we don't want to get caught in one of these And if we're stabilizing above the low, it's more likely We're going to try to gravitate to the least the midpoint or retest the close It's like, you know depending on where the close is Same with that, you know the high it's getting up or This is acting as containment and it's we're going to retrace to the middle simple as that you know in the middle the Pre the midpoint is going to act as a classic pivotal point. It's going to be rotational. It's going to you know Just what's the general tone? What's the general bias when you get a you know transition through the midpoint It's going to act as an acceleration in that direction. This is holds The structure, you know, that's where the price structure starts to come How's the market performing and the closes is oh, you know, the net change for the day is always something that everyone's looking at We have a upper down in the day and where is that you know that close? You know bait within the time frame structure, you know, is it in the middle off the midpoint? Is it near one of the extremes? But bottom line you're higher on the day. It's negative here up on the day. It's positive. It is what it is That's those are just the facts. So it's a great tool to incorporate And so on the next you know, so now we're moving up the food chain on you know and validity of you know, where what is the Hierarchy in value of opportunities, you know and and again, you know subjective Things are the lowest rung and that's what is most people think is the highest rung and it's not It's you know, the the facts are what is true and what the market is working off of and getting in sync with those Fact is what it's all about and so as we you know, we understand price action And what price structure is and we understand what time frame structure is now we're moving to you know, you know some quantitative Analytics with market structure and market structure. It defines the alignment of the state condition So, you know, if you have a market that is, you know, you know, we're trending Where are the where the structure points that are going to define that trend? And again, this is not based on price this is based on more quantitative models than based on, you know I eyeballing a chart and viewing the peaks and drops But it's going out to identify, you know, where those states change Where are those alignment points where states change and the market transitions from trending to non-trending To then be you know, and then it defines that that trending that non-trend consolidation range and as it moves outside of that it's going to identify the alignment of okay, are we Shifting into a negative trend. So the difference between market structure and price structure is price structure is you know identifying those those peaks and troughs Are we working higher structure lower structure market structure is defining the structure of the state the condition and the the the points that are going to Tell us that that state is changing or in transition And so this is what the money that you know, the big money is looking at They're looking at where states are going to change Where shifts are going to happen? Where do I need to hedge? Where do I need to make sure I am fully funded? Those are the important points that the money is looking at and the money is what's driving these markets So market structure is not support resistance levels But it is the technical alignment of the market state in our tool called price map. That's what it does It defines market structure, and we call it our price map And this is and as we go through this and get into it This is something we want to play around with we you know, welcome you to come to our site to the test drive it We have our and and it includes our integration with the book map but the price map structure identifies in alignment where ships and states occur and The beauty of this is it provides a framework to standardize trading tactics with the best risk-defined opportunities So you have this structured overlay that is there in the market. It doesn't move and it's there from the start of the period and the foundations of the price map are the critical range and Our sentiment bias so critical range is the you can think of it as the upper containment level and as the upside pivot and the downside pivot is the lower level of Neutral digestion, you know, basically a non-committal structure, you know, I Called, you know, it's more of a behavioral bias where the market hasn't made a decision yet basically and The midpoint of that is what we call our directional It's a pivotal point within that structure So above that price the markets going to try to press it to the upside below the direction It's going to try to press it to the downside It's just more, you know, this is defining the structure of the state condition and Is it is that state condition true or not true? Are we breaking structure or holding structure? And our sentiment bias is an over-under number. This is the most basic point that You know money looks at every, you know, we're talking about a daily number. This is the daily number They're looking at where is sentiment going to shift from up to down? That's it and some you know and that point Can really can skew the context of the state So if we look at a market, this is a market neutral digestion and we have a critical range that Neutral digestion is a sideways state Critical range is going to define the boundaries that define that state of digestion and the sentiment bias is going to tell us You know, is there a bias or no bias in this example? There is no bias This is more pivotal because sentiments in the middle of this context So for the critical range Bottom line its market structure is identifying if we're going to hold structure or break structure And if we hold structure, then the expectation that the conditions of the state will persist So this is when trading seems easier because the market's performing to the context that the characteristics of the market state Or is it transitioning to a new state and when markets transition? That's it's more difficult. That's when trading is more difficult because we we're not sure what that market is transitioning to We do know that if the market's been digesting and going sideways a lot of times when that when digestive states Transition they bust out and they have an accelerated move So we have we have something to expect if we're really going to get a fix, you know a valid breakout things are just going to go And we're going to see it and if it's not going that's a tell that says there's a problem So that's that's the power of having an understanding expectation of context So that when you know if we know that the markets in sideways neutral digested We're gonna look to be we're gonna be fading moves. Those are the tactics. We're gonna lean on That's where this we're gonna put our size on and the market starts to break structure We're not going to hope that our our fade trade is gonna is gonna work out. We're gonna get out of it quicker and We're gonna anticipate an acceleration And if we don't get an acceleration that's going to tell us that hey, you know what this is a messy trade It's not performing to it's not transitioning properly This is going to be one of those days where it just goes linear sideways and I Don't want to trade this market and I should find something else to do either trading wise or join myself And then the other key point is the you know of the three points is the sentiment bias and so This will skew the structure and this is where you know I really start out my day every day looking at any market and whatever time frame is worse sentiment Because that gives me insight to you know, that is the ultimate risk point Because that's where the you know bias changes from positive and negative So ultimately any trade you put on that's your ultimate risk But it's also interesting to it gives you insight to The characteristics of a state so if you know bull trends aren't don't go linear up They go, you know, they have been positive impulses and negative pullbacks, which a lot of times are vicious But those but those troughs are higher and higher and that's that's what defines it as a bull trend You've got the higher lows higher highs Well when the sentiments below the market in a bull trend, it's all good everything's in alignment and When sentiments above the market all of a sudden you take a step back and okay, you know, we could just we could have a corrective move and You can have markets that are bull trend states that just go down all day and close on their lows And then they usually open up and rally next day But you know, basically it gives you insight that hey this markets in a corrective phase because sentiments above the market So I'm either gonna break or go sideways So again aligning your expectation with context And so here's here's you know, we had some big moves in Bitcoin and you know, this is Quarterly structure So taking it out on a larger scale You know really this is that you know looking at you know, the start of the quarter started and What is the sentiment so the sentiment bias for? Bitcoin was at the directional at 27,000 605 and So this is defining it gets it's the start of the period the structure doesn't change through the end of the year This is the rotate this is the you know over on a number for for Bitcoin for the quarter And you can see how the market rotated around that figure and then this and then Had a our event, you know news event that powered things higher we pull back we stabilized above it The markets rotating higher. This is what a sentiment bias is and to and it's just classic where the market's going to turn around Sentiment especially when it's balanced at the directional and then it makes them a Again disillusioning our context. So where's it? What was a critical range or is the critical range for this quarter? Well, the upside pivot was 32,799 so the expectations for sentiment was hey We're above sentiment. We should make a play for the upside pivot. That's that's just what it is and They did that and not only did they do that, but they broke out through it So now we have a break in structure now the market's broken out of its critical range things are changing Something's happening So the price map is you know the extension of the critical range Has what we call validation levels and So these validation levels will validate the price moves So as we're rotating around the directional to validate a move to the upside pivot The market has to breach what we call our critical range positive And this and so we have initial challenge of that area and immediately the thing rejected Again, this is on a quarterly basis And then the money the market stabilized here and this is just really just you can look at this Is a ladder market and the price map is kind of like a ladder you client You know you go up a rung or you go up and downstairs You know the staircase here and So when the market validated above the Sierra plus they gave us, you know high confidence The market's going to follow through and make a play for the upside pivot and the same thing to do with you know Break out of the critical range so the market's going to break out of the critical range It's going to need to validate beyond the critical range extreme positive or critical range extreme negative and so That's what happened. That's what's currently in play right now in Bitcoin Is that the market has broken out to the upside of the critical range, but it has not validated yet And we're and you know, so this you know basically 35,492 level is our validation point for an extended move in Bitcoin and So the next part of the critical range is identifying. Okay. Well, if we break out of this critical range, where can we go? When that's where our target levels coming to play so we have You know upside target one upside target two upside target three and force kind of an event extreme So really that you know the an upside target one is like our minimum expectation Our expectation as it goes to UT2 best cases is UT3 and Having a crypto event you're going to see the market go into the ut4 area and even beyond Especially with these markets and the volatility we had with this new asset class And so that that's that's the market structure So let's let's just now that we you know, we've kind of gone through Bitcoin where we're at Let's see where we're at in real time and let's and let's apply some of these, you know, let's apply our Price structure time frame structure and our market structure Tools In both the you know higher time frames and larger time frames before we Get into that. I just want to show our playbook So our playbook is defines the context. So it you know for Bitcoin the market state is bull trend And so, you know, really owning context is important You know really really owning the You know environment and the characteristics You know, if you if you play, you know, you play a sport You know, we're in football season now and you know, you've got a game coming up and it's indoors on astroturf Okay I'm gonna I've got I've got special shoes for that Or You know You're playing and it's raining out on grass Well, I've got some bigger cleats for that You know and and you need to adjust your tactics to those conditions and be and you're prepared And and this is where you align your expectations You know, you know, is the market in a bull trend? Is it a bear trend? Are we in a a corrective trend? Are we in a a neutral posture? You know, it helps to you know, you understanding what the the context is Understanding what behavior what momentum's like what the volatility expectation is And not only understand what should happen And you know, this is really an expectation of what a bull trend looks like but also having an expectation Of when this market breaks structure, what should it do? So when a bull trend breaks structure, it's not necessarily going to shift to a negative trend It's more likely it's going to downshift to a neutral trend But then You know from that you know that context, you know, we need to identify our alignment, right? So we're first we Define the context understand the characteristics and then where's the alignment to those when those characteristics are going to change and so That's our that's what structure is and structure is going to change What that environment looks like so instead of in this situation For bitcoin We're in a positive trend But sentiment is way below the market and what do we know about sentiment? We know that sentiment is where the energy of the market is because that's where all the fund managers are looking at They are looking at this price point to say this is where I need to make a decision But we take this price amount out that we're no longer in a positive situation And I might need to hedge I might need to do something and so today that comes in at 31 1552 Bases the bitcoin perpetual contract And there also and we also know that there's good structure here at this 32 183 and this is what's keeping that this is what's making this a pretty bull trend picture But since the energy of the markets down here, what do we know when if the markets train at these levels? It's pretty extended Doesn't mean it can't go higher. We could be in an event situation Absolutely, but what's more likely to occur the market's going to have hard time generating interest to really surge You know You know markets that Are more in balance Let me see if we have one here Well, even this market, you know, it is the you know sentiment starts to shift up You know, that's when you're going to see more of a powerful area and especially when the market The sentiment is balanced on a trending market. It really shows that this market Is ready to make a decision and ready to make a move or not So understanding that that context is important And this tool also helps to identify, you know, what what what The market's paying out. What segment is the market moving in? We call those reward metrics Average price net distance and so bitcoin's trading in 887 dollar segments So you put a trade on in bitcoin. That's your minimum expectation At least you on half of that at the very least you're going for 443 dollars on any bitcoin trade And risk-wise we have a variance alert distance maximum stop distance You know, you're looking to you know, you're risking 124 dollars You know You know between, you know, you look look for one to three at least So you can risk even double that if you're going to go for the APMD So under defining that alignment And then the the playbook also gives you your expectation because it's identifying if we're in this state We have put in that structure. Then here's an optimal here's here's optimally the optimal opportunities And then potentially hedge opportunities So I wanted to plug that so here's our daily and I've got our previous period high low Close and midpoint on here If we're looking if we're identifying, you know, so here's yesterday's action And here's today And so if we're looking at You know, is the market Positive price structure Well, you know in a bigger sense, you know incorporating yesterday's this yesterday's low point and we're taking this low point Yeah, we've got you know a market that's looking like it wants to build is building positive price structure But it's it's all kind of interior. So if we really just you know, just focusing on the day here What's you know, you know, yes, you know here you've got this positive impulse here and then the market break structure So, you know Just classic You know on this impulse, there's a problem You know the expectation right now is more sideways. Why? The market broke this impulse struck positive price structure So it more likely it needs to go sideways or correct Before it's going to have another impulse that would look something like this And so That's just analyzing, you know, what's happening on price structure currently and we can get more into that with As we go forward when we get into the microstructure But on a larger picture that we look at the what's happening on the time frame structure. Well Market opened up And you know as it always does, you know, basically, um Off the previous close and then we and then which is in alignment with the midpoint So it's telling us that okay that you know, this is the rotational area of this range And then we have the market You try to press it to the downside make a play for the previous day's low Couldn't do it and we stabilize above the midpoint And now it's going to start to work higher here and make a play for the up the high and it did So, you know building on this context So here's we have sentiment below the market So as we come into the session here, we know that sentiment is way below the market And if the market starts to hold below the previous day's closing is net change negative on the day We could see a play for the the low and if not we could they think could really tumble down to here So let's put the critical range on Because we know this market is in a bull trend So this is again when we talked about, you know, value of Of structures, you know price structure can get a little sloppy and it can get into and it can quickly become subjective Time frame structure is is the absolute and those are absolute facts you know Crypto wise if you you know, you definitely have the issue of you know, what is the real price of bitcoin? with all the different exchanges But you know, whatever you're on exchange that you're on that's the data you have. That's what it is But then market structure Is quantitative and it's not looking at these, you know you know peaks and valleys And here's our direction. Here's our critical range from the get go And are the pivotal point within the critical range so What's really nice is when Time frame structure price structure and market structure all come into alignment And today they didn't they were somewhat in alignment here at the upper metric boundary of the directional Because you had that was the net change But the fact that the market held the metric boundary, you know, it holds the figure here holds the directional here With the because the expectation is if we're in a bull trend The market should build You know hold Market structure so once it gets above the directional It should hold above the directional and where should it go it should come up to the upside pivot And then this is the point that tells us that This bull trend is going to extend So let's put our validation points on So again, we're always aligning our expectations What do we what's more likely to occur? and so for bitcoin today the market Played around the directional got above the midpoint. This was given as high confidence The market's going to make a play for the high of the day basis the time frame structure It's also in alignment with um The market structure we had a you know, we had multiple breaches of this validation point that says hey, we want to go higher Holds the midpoint continues to work higher We attain our upside pivot and then we break out But we can't validate beyond our critical range extreme And this is this is where the uh the microstructure Comes into play But when you know When when you're in this moment here Your expectation is that you know the market is has made a big move We caught you know, so we're talking about average price net distance So you can look at this is a average price net distance from the upside pivot to the directional And this is a half 8 pmd. So you can see how the market, you know, is trading in these, you know Segments and this is a segment and a half move And we also know from the start of the session that sentiment and the energy buying energy is down here So we also we know that upside pivot breakout Is not as sexy as a move or a signal Because sentiments way below the market so there's not going to be a lot of energy how much interest is really going to come in here You know, we also have to look at the narrative and we know we've got paul speaking later on this afternoon So that's another reason that hey this market may want to take a might not follow through So when you're in the moment here and you're seeing a lot of people get really anxious And trying to press it and they're trying to press it into a figure You know, we want to see this kind of stuff happen above these figures, you know above here We want to see this intensity of trade happening on a breakout when intensity is happening. It's happening in front of it It's hopeful I hope it goes higher But we but having the expectation this foundation that we know that this is the potential extreme We're looking for exhaustive events Because that's more interesting It's not that interesting to buy a breakout here because we want to buy it here We want to you know, this is our optimal strategy is to fade momentum down here Or except a reversal signal, which is the market goes below the downside pivot here pops back above it And that gives us a reversal signal This is the this is the money trade And if we break structure Meaning that we trade above the critical range But then we can't hold it Well, this is this is transitioning us from an optimal theme situation into a hedge strategy theme So this is market structure gives us insight to anticipate and this is what we're talking about proactive risk management anticipating opportunity And this is where with this is what's happening currently We're transitioning into a hedge strategy theme Which may or may not follow through But what happened is the market was contained by the critical range extreme positive It wasn't able to hold the metric boundaries It's you know this if we look at this price action here The market should have built held positive price structure And continue with it it didn't It broke positive price structure Market structure time frame wise we challenge the high If time frame wise it played out as expected And so this is also gives you insight to potential exhaustion Again, you know just have improving awareness So we're talking about improving awareness We're improving our awareness that the fact that this is the previous day's high point critical range extreme positive and sentiments We have a little market and now the market gave us a break in price structure And we're in the middle on the time frame structure, but we're getting a reversal signal at the upside pivot and so The expectation here is that we're we're not going we're not going to perform like the characteristics of a bull trend anymore The expectation is we're either going to have a a corrective. We're either going to correct and have a negative correction excuse me Or we're going to go sideways because that's what corrective trades do they you know, they're either going to go sideways or they're going to Break and break potentially hard And where can we break to well since sentiments below the market and that's positive A reversal signal here Would generally target the directional Because if the bull trend is going to resume It should hold ultimately it should hold the directional because that's the key That's our key point on On the critical range that hey we broke out of the critical range What's the lowest squeeze point that this thing can go to the directional we go below the directional it's over Because now we're breaking market structure You know just as you know you can look at these points as your you know peaks and troughs And this is the lower breaking point And then the other thing that's nice about this area is that we have the previous day's close And midpoint so it's kind of a natural. Hey, we tested the high time frame high now We're going to you know, it rejected. Let's go test the the time frame midpoint Or the or the or the session close here. We're going to go net change You know, let's go see see if we can go net change negative on the day But that comes into alignment here and so What you know after you have this higher time frame context That's when you can get into the microstructure And that's where this tool is invaluable And we can see We can see, you know the resting paper here that's also building up At the directional area As well as the You know just just in front of that figure, you know, basically the net change So you are you know, you can see that Um a bit larger players are interested in this area as well And then so that's that's where we we take the You know kind of the next step And our decision matrix is what's happening in the microstructure And so when we see the microstructure aligning with the bigger picture Things start to get real clear, you know, so we had this intensity of trade Into the extreme Let's just blow that up So this again, this is what I like to look for is I've getting this excitement into a figure And I did have some, you know, resting liquidity here And then the market doesn't follow through and you get this You know basically happening here And so my minimum expectation here Is a half APMD So I'm minimally expecting it to come at least back down to the upside pivot And this this is classic Pricement action, you know, you're climbing the stairs you take you go above one stair You go to the next level and you can you can step back to the next level and then you keep Stair stepping up And then when you do this it tells you okay, we're starting to stair step down. There's an issue But these you know identifying, you know, you've got these aggressive buyers coming in here and it's like, oh, nope But you can anticipate that And this is something especially if any kind of breakout signal this market should breach the this metric boundary And base above this lower metric boundary and that should go And the and when you look at the you know, the biggest moves Up or down, that's how they that's how they perform and if a market's not performing perfectly, then there's a problem So then we have this signal here I like to look another good factual tool is the VWAP So we you know having the the VWAP coming in here It's nice, you know a lot of times the market, you know getting the market below that and when that that's in alignment with Market structure, then you really have something going on And so the fact that the VWAP was in front of it because you have to remember The funds are coming in. I mean they've got programs that they're just looking to enter at the VWAP And they basically they're just trying they're just looking for that price So you always have to anticipate liquidity coming in at this point. It's changed the uh, let me change my volume bars here My volume dot let's beef that up So what we're looking for now is validation that this reversal is true So the expectation we can look at the price structure here And we've got our metric coming in here at 34 800 Let me blow this up a little bit So As we're looking at, you know price structure within market structure So this is how we get our awareness. We're observing price action within market structure and our time frame structure And so we have this market, you know, we're building these higher lows higher impulse highs and we have a Surge into our What we know is the validation point and potential extreme plus we know that we've got our Uh, the previous days high point is kind of just above that as well So then they come back down the and they break here's our so if we're looking at structure low points This is our first structure low point break Right. So America makes a high a low and a new high So that makes that the first structure low point breaking point and then here's our second structure Point breaking point and so have this alignment coming in at the figure is is a big deal Because we know that this impulse is broken here And we have you know, we kind of have some multiple Things coming in at this level. So it tells us that hey, you know, it should if this market is really that good It should stabilize here and call and it didn't and so so we break this structure here and we get a high up to this point So this this point this price structure point is going to be critical because now You know, we've flipped our we've switched gears in the high low game and we now we're now we're looking at this negative structure And here's where we, you know, we're validating this breakout below the upside pivot metric boundary to trigger a reversal signal Excuse me, and if this reversal signal is going to be true Reversal should just go and it should be they should be aggressive. So we should not see this market trade back above 348 40 And if it does there's a problem But if it if it holds the expectation is that The market's going to make a play for this level So again looking for that, you know 800 bucks 850 And you know risking You know above above here. So risking, you know 150 200 bucks But and we're looking for the towels in the market and we're looking and we're going to see that in the order book as well Is the market performing the expectation of a reversal, you know, the fact that we had if we didn't have, you know A news event coming out soon The market would be trading a little more smoother right now. It's just it's kind of playing mind games. So it's it's more of okay We broke structure It's more likely we're going to go sideways for a bit We definitely have a negative lean And it's not a real true reversal Is is really going to Hold structure here and just really start building aggressive negative Price action and it's not doing that So it's more of a tell that we may be in for more sideways and that sideways action Currently is negative below this You know Below this metric boundary and this price structure here And if that price structure gets breached here It's going to tell us that you know now we've you know We have more of a firm sideways expectation and we could maybe retest the the highs but either way we're more sideways expectation So again, it's it's all about identifying context first Know your environment Be ready for it You know Come in to the trading day knowing that my expectation is this market should trade like a bull trend and if it's not doing that Something's going on. Are we transitioning? Are we going sideways? What's happening? Where's the alignment? using a you know market and price structure alignment and time frame alignment and then that's going to align our expectations And so we could anticipate And so then when we're in the moment and all the technical all the tools that you use And the intuitiveness that the the goal for this the whole fact-based trading approach Is to get you to help you trade more intuitively bottom line When you're not thinking you're just doing your executing because when you when you absorb all of this this factual information Your body owns it and it and it it's like okay. I feel good about that And this makes sense I don't have to think And then then you then you're in the in the moment With a tool like book map to really dominate And you and you're you get in sync with the the the order flow But you have an expectation and and then if you are fortunate enough to get on to some good momentum You know, you know, you know where you can get out of that momentum You know where you need to Reduce, you know reduce your profit give back and you you know where your risk is at And that that is going to give you confidence when you you know, you repeat that And that's going to make it more your you know, your account's going to be more sustainable And you're going to start to build equity any questions I've got a little bit of time on the stream I can Stay on afterwards also you can Email me directly and To play around with our tools get a two week free trial You can come to a Dharma capital that trade and sign up We also have a Trade room that you can come into that we do other, you know provide other analytics And training but keep it simple That's what it's all about You know what, you know when you go to You know if you're playing cards and You know, you know what the odds are You're going to bet differently. You're going to make different decisions And you don't always get the cards you want So you play what you have And you know that that's a that's a that's a big part of it But it's you know, it's exciting when you get good cards so you can bet bigger You know it and it's you know, and if you're just not getting the opportunities You're just not getting the market's just not giving you that the money or you when you came into trade you weren't there for the opportunities And if you miss something you miss it and that's something else to consider. That's a different different presentation But maintaining a fact for us is focus is going to give you clarity And it's going to make trading Not as stressful Well, thanks for joining me today and I look forward to seeing you next time Good luck