 and welcome to the bookmap advanced webinar here. All right, so let's get going. Can everyone hear me and see my screen in here? If you can, just type yes in the chat and we'll get started here. Make sure the recording's going. Okay, yeah, we're all good. All right, so I should be, okay, yeah, it should be good. All right, so if you could, just someone type yes in there in the questions or I mean in the advanced webinar chat that they can hear me and see my screen. Okay, thanks, Alan. All right, all right, so yeah, I'm just still trying to get, make sure we get this right here. Okay, excellent, excellent. Okay, guys, well, thanks for coming. Welcome to the webinar. So the live trading webinar here every day, 10 a.m. We'll be doing live forward-looking analysis. This is not hindsight analysis. Actually that'll be just three days a week, Monday, Tuesday, and Friday at 10 a.m. And then we have live trading with Jay Trader and Scott Pulsini on Wednesday and Thursday at 10 a.m. All right, so yeah, make sure to tune in for those. It's been a great week last week and some really good stuff in there from these guys. So on top of all of this, we have Tom B. in the Trader's lab room. He is streaming after these webinars. He kind of comes in a little bit later at his own time and starts streaming. So we've got a lot of nice services in here and yeah, take advantage of them. Our education is pretty robust. We have the other, basically this live webinar here, the live analysis is the foundation of Education for Bookmap. You have the educational course and then apply it with this live forward-looking analysis and then you have three other traders here. You got Jay Trader, Scott Pulsini and Tom B. All also contributing here to the Bookmap Education. Tom B. is trading volume profile. So look for the live stream later and you can join in. All right, so let's go through the risk disclosures and then let's jump into the market. Okay, general disclosure, all Bookmap limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. The risk disclosure, trading futures, equities and digital currencies involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. All right, so let's see here, we've got a big week in front of us non-farm on Friday and let's see, yeah, we got ADP, non-farm employment on Wednesday. What other kind of numbers do we have out? Boy, there's a lot of other things that aren't from the US market but oh, ISM manufacturing tomorrow so that'll be big jolts, a job openings as well tomorrow and yeah, so the volatility seems to continue here. Let's jump in and take a look at the S&P E-mini and start to go through things here. All right, so we see the, well, I have data since 7 a.m. 9 30 open cash open, nice move to the upside heading right toward high liquidity here at 44.50. Okay, so right above that, we have another area of very high liquidity here. This looks inevitable to trade, just waiting for these buyers to hit it right now. Let's see if they can lift it right into this area of high liquidity, we have 300 contracts and 525 contracts right there. We have them underneath at 40 here on the bid and we're finding buyers so we should see the transaction into this high liquidity here. Yeah, so let's look for that and then let's see if we can get a continuation here. Now, before we go over all of this though in the order flow, just getting kind of a picture here of it, let's zoom out and look at the bigger timeframe here on a candlestick chart. Okay, so interesting stuff here. We talked about this quite a bit, the move down below these swings back in October, looking for buyers to support it, profit taking from sellers and we are now back in the range and closing above other highs in here. Well, testing other highs and today we're testing it right now. Okay, so a swing high from last Wednesday right in here. So that's the daily chart and if we see buyers continue, we'll be looking for them to trade right up into some of these areas up here. So yeah, I like this kind of 44, 87 and then also 45, 17, 18, somewhere around there. Heck, they can even get up here to 45, 68 or so, maybe even higher. We need to see, we're gonna read the order flow but these are some of the higher time frames to look at on the upside. On the downside, back in the range here, also some of these lows down here, okay, 42, 64. Right around in this whole area, this whole zone here, kind of 43, 15 down to 42, 64 or so. Okay, so some pretty big ranges here and we've seen some really nice volatility in these big swings. Look at the hour chart here. Here's the day and we're breaking up above it. These are regular trading hours here. And yeah, this is gonna be a big question. Are we gonna accept above this and see momentum above this area here or are we gonna trade back into this range and maybe test back down into some of these other areas on the hourly down here, maybe around 64 or so. Okay, I also like this kind of area up here. If we can target that, 44, 80 and then our 87 or was that 87? We said 87 and where is 87 here? Okay, so that would be the 87 up right here, this swing. Yeah, and then the 45, 18 is up here. So let's kind of mark those up and just have an idea and we'll look at those for the week here. A few different, oh, come on, where is it, horizontal line, there we go. There's our 87. And how about our 45, 20? All right, so we got a couple of lines there and then here we got the 15 minute chart and the move up above. And yeah, just looking some of these other areas if we pull back here, where we might go, where we just kind of broke out from 44, 25, 43, 77 or down in this area here. Now, these are some of the higher timeframe levels. We're just kind of mapping out the day here, looking at some of these higher timeframe levels. Now we're gonna look at the order flow around some of these levels. Right now that we don't really have any, it's just the breakout above this 44 area here or if it's gonna accept or reject and that's when we're gonna dive into book map and get some insight to what's going on around those levels. So let's jump in here. So here's our move through 50, we're looking for that and then potentially up in here to 65 or so, okay? So, and pretty strong buying here, still looks good. There's no reason to think anything different at the moment that we're sticking with the plan, looking for 60 and 65 liquidity up here, okay? They're supporting it a little bit lower down here now at 35 and then also around this kind of 44, 50, you can see them on the bid here. So continue to go with the strength until we see something different, okay? Pretty simple, pretty straightforward. Any questions on that? Yeah, just let's see what happens up at the top of the swing here. This is where we're looking for again, you know, big green dots, okay? To be able to pull this on up into 60, okay? Now we're getting some, but we're also seeing some sellers come in now, okay? So we're gonna get some rotations back and forth in here. They'll likely come back down and maybe test, well, the first area to test, they've already done it, is right here, kind of broke out from this structure. And then maybe the next area is right around, yeah, 44, 50 and a half or 44, 50, somewhere around there. Okay, so anyway, yeah, that's kind of what we're looking at here. And looking for who's taking control in some of these areas here. All right, so a little on the bid and they pulled. Yeah, I like this area down here around this 44, 50. If we can get a pull back to that and a bounce out of it. Structurally, I mean, we made kind of an equal high here. So we're still bullish. Now we didn't make a lower low here. And let's see if we get our buyers up here. If we do, we should come right back up to this liquidity here at 56, looking for our buyers. And a skew in the auction here would be good. There's a little bit of a skew at 52. Let's get our buyers. No, not getting them. Okay, so another rotation back down. Let's start to mark up some structure here in the price action as well. Just some simple areas of consolidation and breakout. This is a really bullish move here. Consolidation, even this one is pretty bullish here because you can see the gaps in between the areas of structure in here. So there's just so much buying that the consolidation is up at a higher level like this. Okay, whereas down here, pretty strong buying but you can see that it's still kind of retest back to where it kind of broke from. Okay, just starting to understand some of the areas in the structure here. Okay, here come our buyers. Okay, they're coming back in here. So another rotation up and still haven't really found the buyers up here. Okay, we're looking for it. And if we can get it, this is gonna be a breakout trade up into 60 and then maybe that 65 up here. All right, buyers, let's see it. I do not see them on the bid in here, so I don't like it. I wanna see them on the bid supporting it at a higher level here. Okay, more demand at a higher level. And then I wanna see the reaction to that liquidity here with green dots, aggressive buyers. Here we go, let's see if we get it here. Okay, a little bit coming in here. Now, some balance as well in the order book. You can see some higher liquidity coming out over here, a little bit lower here. Now, the reaction to that was some selling, right? So we got a little bit of insight there. Okay, love to see this guy pull and flip actually from offer to bid. He's gonna pull, he's gonna pull here. He's already starting to pull a little bit, but we're getting buying interest here. Now, this guy should pull out and let's see if we can get it here. Nope, not on that rotation. Yeah, nothing real high probability here. It's just, it's not really, we're reading it here and trying to get the insight here. It's not really giving us what we want. It's really kind of ambiguous at the moment. Okay, we got our exhaustion, sellers come in. Okay, but looking for these buyers again. Okay, we're back up again here. Back up into this small range here. Let's see if we can get them now. There they go. That's a tough read. That's a really tough read. We didn't get a skew in the auction here, but we got our buyers now. Now they should take this guy on. This guy did not pull funnily enough. There he goes. Okay, so he didn't pull, but he was taken on by the buyers here. Okay, let's zoom out here. I'm still looking for 60 to transact. Now, opposite scenario here. This is where the buying took place here. Okay, and we're below that area and we're seeing some sellers here. Now, it's not a whole lot of selling, though. I'd be looking for buyers to try to take it right back up here to 56. And let's see if they can do it here. Let's call it 55 for first target. So we're just reading the order flow around these areas here and just, wait, we got our buyers and then they got hammered here. And then I'm looking for them to come right back up, though, and retest this area here. See a lot of stops are triggered or test the bottom of these ranges here. See if there's any supply. Okay, the bid looks good here at 50 and 49. Just looking for our green dots now to pull it up into 55 and 56 and then maybe 60 here. Love to see, this is kind of a key area here for this. This is where the sellers came in, right in here, right at 55. Okay, so if we can get above that, then we can get back up into not only 58, but our 60 and maybe our 65, 66 liquidity up here. Okay, so I'm gonna just mark that up. Kind of looking for this order flow around this level here at 55. Here come the buyers, they're gonna go for it, they're gonna attack it. Okay, and now let's see if we can get back above it. On buyers, if we do, we should get our move to 60 here. Any questions on this zone in here? See where the buyers came in and see where the sellers took it down, right? So this has become kind of a critical area here at 55 for the moment. All right, we're looking for the order flow around this level now. And let's see, Doug, 55, SPY, okay, there you go. It was 445, all right, let's take a look at that SPY. Thanks, Doug. Okay, we got our buyers above it here. They should be able to reach it now up to 60. All right, this looks like higher probability, me. I would like to see the bid show more here, but this is looking good, okay, looking for that move. Okay, there's 60, let's see if they can go higher here. There they go, there's a lot of buying coming in, so we're still looking for higher here. This higher liquidity here, 63, 65, 66. Okay, still looking for it. We probably get maybe a retest back to 60 here. There it is. Yeah, we're kind of getting back to several rotations. I agree, Doug. Let's take a look at the SPY. Boy, I already trade into this here. I love you're looking at this, Doug, this is great. You're getting quite a bit out of it. Because SPY, when you were looking at the cues, the cues were a lot clearer, I think, but this is pretty good for SPY. Gives, and that nice correlation here, understanding high liquidity up at some of these areas in here, and they stayed in the book, so it looks like they wanna deal at that 446 now. Let's jump back to that S&P, and some back and forth in here. Yeah, well, they can pull back all the way back to 55 here, and we could still be bullish. I mean, this is where the buyers came in and started to take control in this small timeframe here. And that's what we're looking at here. We're accepting above it so far. Now, any questions on this area in here? We covered this on Friday a bit. Like, we said this is kind of higher probability that we'll get up to 60 and maybe up into the higher liquidity up in here. And then, what was the answer on that? Like, why did we think that? After all this kind of back and forth in here, like, all of a sudden in here, any ideas? What was the question again? Yeah, so like one, well, yeah, like right around in here, we're thinking like, I think we got it. The buyers got it now. And looking for the move to 60, and if they can pick it up, then we're looking for the higher move 63, 65, and 66 up here in this liquidity. And we're still bullish here. And if we get sellers down below 55, it'll be a different story, right? Then we'd be looking for the move down to 50 again, bottom of the range. And that might happen that we're gonna see the test right now, and it's testing the top of 55 right now. Well, the answer is like, once we start to see the, the buyers come in, I would have loved to see, we could see a little bit on the bid in here. It's not a whole lot though. But once we got back up above, these sellers here, that's really the key, right? And we see that there's buying pressure in here. That's when we're looking for them to move it. And we're looking for a stop run, and we got it, big one, nice one here, right? This was how many from this point? Well, we can even go from this point onward, but the bigger one happened here. So let's see, that's a 300, 382 up to, yeah. So somewhere around 80, 100, something like that. Looks like 500. Oh, 33, yeah, yeah, it is like 500. Yeah, in fact, let me put the stops and icebergs on the chart here. Stop ESH to CME sell at 44.53 volume 10. Put the automatic threshold in here. So, okay, so we're down below our 55 actually, all right. So, and they tested down to 53, looking for the test down to 44.50. Also point of control has now moved up, as you guys can see. So most trade level is, we're kind of right at it, a little bit below it right now. So still looking for sellers to push it down a little bit lower here. Okay, let's take a look at our zones and levels. Yeah, I mean, even down to like some of this, some of these areas where these transactions took place down here, 44.50 as well as 44.47. Okay, and then I'd be looking for buyers to support it down here. Okay, not seeing much at the moment. But anyway, see how the sellers are taking control down below 55 here? There's our move. Okay, now let's see, maybe a little bit lower here and then I'd be looking for buyers to take it right back up here to at least point of control. Okay, or this transaction right in here. Yeah, I'd love to see them come up higher back to 55 again. Okay, we're just about there. We should get our buyers, they should start coming in here and at least test back up here to top of the range and our point of control. I'd love to see it to 55 though. That's where these sellers really took control. And here they come. All right, so climb a little bit above this on some buy volume, we should get our move back up to 55. Now again, look at where the volume took place here. See the big red dot down here and see how we're above that right now. This is something we covered on Friday to continue to take a look at. This is where the big transaction took place. And this is where buyers are now above it. Okay, now overall structure is still bearish here from this point onward 55 on down. And you can see we tested point of control just to the top of the range here and sellers came right back in. And now sellers remain in control. More sellers, okay, now even look at where the selling took place here. So we need to see buyers back up above this area here, right above this, okay, around this kind of 48 level. If we do, we should move right back to point of control here. Maybe a little shy of it, 51, 52. Yeah, all right, so let's see it buyers. Let's see if you got it. And a push right back up to point of control. This is our responsive buyers here in your auction market theory. You guys can ask Tom all about that. There's our move guys, that's what we're looking for. Even point of control has dipped just slightly there to about 52. Okay, let's see if we can get our buyers back up above it though, still looking for them to test up to where these sellers took control here. Just a test. All right, let me zoom out a little bit here and get our bigger picture approach here. So we see kind of a shift in change starting to take place and sellers took control here, 55, below 55, right? So I'm looking for it to see if we still have buying interest here. You can see where we, let's just mark up our structure again and get a feel for what's going on here. So yeah, we tested down below it. You can see sellers took control. We need to see that the buyers back up above 55 yet again, right? That's what we're looking for here in one scenario. So here they come, they're giving it the test here, back to 55. Now, as a trading strategy, trading it back to those levels is a strategy, right? It doesn't have to be back to point of control, but back to where these sellers dropped it, okay? And you can look for that. That can be a very high probability trade, okay? And then get out, you know? Look for, if you get buyers back up above it, you can get back in and look for the continuation of it or get out a piece of it and then hold and then look for the continuation. Hey, these are just considerations. It's not trade recommendations. We don't do that in here. Hey, this is not a trading room like that, okay? It's free to understand order flow around levels here. And that's what we're here for, okay? Get deeper insight around these specific levels, okay? Let's jump back at our higher timeframe and take a look here, okay? So you can see we haven't really tested it yet. The retest would probably be around this 36 area here or we can look at it here. 24, let me say 36, this swing up here, okay? Yeah, you know, having the pullback to something like 25 or 44, 25 is not out of the question at all. And then have it still continue to the upside. It would just be a retest of these areas and then see if we can get continuation. We can take a look at some of these candles in here as well, like how strong are they? It's not really so great. It's not like a look at some of these other hourly candles in here, right? With strong, strong moves. That's where we just look for that continuation. And those are easy, easy trades. All right, so here we are back up at 55, okay? Where are these sellers took it down? Looking for the buyers here to take it back up, yeah. So 60 would be the next area here from 55 to 60 and then all this liquidity yet again, back up above. Let's take a look here, a closer look. Look for a skew on the bid. Here come our buyers. All right, they should be able to reach up to 60 here. Little more bind would be good. Yeah, not really quite seeing it. Yeah, some selling coming in. Okay, so we'll probably get another rotation on it here. Yeah, there they go. Back to point of control. Okay, let's see if we can get another rotation back up here. Now, this is value here, right? So we're looking for something to move away from value and for that to happen, it has to be done on size. So we're looking for a big green dots to pull it away from value. Okay, I'm not getting it, not getting it yet. So this is tiny little breakout here and it failed. Right back into value and that now sellers coming right back in trying to take control yet again, okay? And they're gonna shoot for the swing low here back to our kind of 47 level. Okay, this is a low volume pullback here on the buy side. So looking for sellers again and looking for sellers to take it down here, okay? We covered low volume pullbacks quite a bit the other last week. Another really, really great strategy. Okay, look at the size of the dots, look at the size of the bars and look where they pull back too. Okay, so low volume pullback yet again on the buy side. So looking for sellers, okay? We're kind of flipping our order flow here. We're looking for buyers over here, they didn't show up. We're seeing sellers take regain control here. Okay, even here, still looking for sellers. There's some exhaustion to sellers should come in now and drop it down to our 47 or 45 level here. Okay, looking for it, they're in control. Let's see them go to this outer edge here and try to take it down further. Here they come and now they should be able to move it. Let's see it, let's see it sellers. Right back down to 47 or this 46 and a half and liquidity down here at 45. Okay, here they come. Let's see it, we've got to get more than that sellers. You've got control here. Even this buying here is still pretty paltry compared to all this selling here. All right, still looking for it. Okay, see how we kind of stayed in that and not got shaken out of this here. We're still looking for it due to the amount of volume in here on the sell side. Come on, let's see the flush through right into 45. 45 liquidity coming in. Okay, now we've seen some, the buyer's becoming a lot more down here now, right? Starting to see a bit more now. Okay, sellers still in control though. Okay, so this 45 liquidity looks pretty good and boom, right into 45. Beautiful, beautiful move. All right, so anyway, yeah, I'd be taking some profit down there and yeah, see if they can still continue. I mean, sellers remain in control, right? Not until we see something different, but you know, this was the target, high liquidity, it traded. We have some icebergs on the other side here, but they still remain in control until we see something different. Okay, makes sense. We'll go through, we'll review this here. Yeah, and see the buyer starting to come in now is starting to kind of equal some of the selling in here. So we're starting to see now a back and forth market from a trending down to a back and forth market. Sellers still remain in control though, even on this move back. Okay, this will help you stay in trades. Do you guys have questions about this? Would you like me to go over this over here again? Is this something that you find helpful? This low volume pullback, I mean, you guys like how golden this is. I mean, it really is something that, you know, you'll be able to utilize this again and again, and it's such a simple thing. Okay, Kurt, so you want me to go over it again? Is that right? Okay, thanks, Alan. Okay, we'll do a quick review. I mean, I just want to make sure that we're going through not, I don't want to go through hindsight analysis with you guys. And we're here for the forward looking analysis like we're doing, right? But sometimes we need to take a step back and we need to go over things and understand why we thought these things would unfold, right? So you see the buyers coming in right now. So where are the sellers? Well, look at all the majority of the selling down here. Where were they come back up and test? Well, they've already done it here to this volume node here, looking for this one as well. Maybe then get back up to this swing here at 51, right? Maybe you're gonna get the buyers come back to point of control 53 now, right? Are responsive buyers looking actually pretty good. Look at the support at 50. So looking for them to trade it back here, right? So yeah, you would have exited that position once you saw the buyers starting to come in like this or you could even like trade it back to these areas here. Now, it's the selling down here, right? And where they took control in here actually as well. And we're above it. We're above it on the buy side, right? That's kind of the key here. Understanding where that selling took place and where buyers can kind of get it upended and take it the other way, okay? Same as in here, we were looking at it in here. And that's where we're coming right back to test, right? In here. And it happens to be point of control. Now, let's see Alec, your question, your point of control is different. Yeah, that might be the case. I've got mine, I think resets at the cash open, I believe, or maybe I don't have it resetting at the cash open. So I have it, it looks like I have it actually till seven o'clock East Coast time here. Right, so it's gonna be different in that sense. Nonetheless though, look at the size of the profile up here. So somewhere around there ought to be about right. 42, 44, 25, though that does not, that sounds off. I mean, maybe you opened up your book map and not too long ago or I don't know, something. Maybe you had it for several days. Then your point of control is gonna be a little different. Okay, so we tested back up to these sellers here and we haven't found buyers take it higher here. Okay, the responsive buyers, they got what they wanted. They traded it back to the mean and they're gonna cover. Okay, sellers still coming back in here. Okay, right back to 45 again where this huge selling took place here. Now this is gonna be interesting to see here. This is gonna be the battlefield here. We see the icebergs coming in as well. We may come just to here at 47 and we may see buyers support it now and bounce off of this area. These guys, they're in control down below. Now you can see, now they're not, now they're not gonna get squeezed here. We're down here again and we're finding more sellers here. Sellers should be able to take this lower now. They should be able to take it back down to maybe the next level here, 44, 40 and 35 here. We're still structurally, we're still in a downtrend and we're seeing more selling at the bottom end here. So we're looking for them to push it away from point of control. We just tested point of control, looking for another push away from it here. Oh, you're welcome, Alan, Alec. Let's see, Doug, traders are buying SPX and puts and sell calls. Market makers have been selling ES about 10 a.m. Thanks, Doug. We'll have to do another webinar with you, Doug. Or you wanna come in for a streaming event and go through what you went through in your webinar. Doug's got a really interesting higher time from analysis using options. Love the way you took that on, Doug, that was great. New information from Spot Gamma and all that options data and then put that into a unique higher time frame look. Okay, still looking for sellers to try to take this lower. Look at the cluster, right? Now, they've got to take it lower. Even point of control has now moved down, at least on mine, right, it's down here now. So we're at value here. Let's see, when are you gonna have an in-person conference? Oh, that's a good question, Alan. Well, I mean, all this COVID stuff, boy, we gotta get over that. Yeah, that'd be a lot of fun. No doubt. All right, now, see where the selling took place again? Now, watch the buyers try. Try to lift it away from that area here, because the sellers are kinda hanging out in the breeze here, right? If we can get big buyers above this area, I'd be looking for a move right back to here, right back to these transactions up here. Now, we don't have much going on in the order book to kinda give us insight at the moment. I mean, you know, yeah, 50 looks good. This liquidity here, a little bit higher would be good as well. See how the buyers will kind of squeeze these guys here, and looking for that move back up into these areas, right? If we don't get sellers trying to take this lower at this point, now they should have been able to take it lower at this point. And they didn't. Not enough selling interest. Yeah, that'd be a lot of fun, Alan, no doubt. All right, let me get back to some of these questions here. All right, so the review, you guys wanna take a look at that in the review. Maybe we can do it again on a different example. I mean, this example here, this is something we went over on Friday as well. Like, in this whole move, I mean, how decisive is this move on the sell side, right? In some of these areas here. Not really decisive. Okay, now here's our decisive volume down here, but it's way down here, and buyers are back up above it. Right, so looking for them to trade back, now the buyers to trade back and test some of these other previous areas here. Okay, same as down in here, same idea. The majority of the selling took place down here and into high liquidity. And into high liquidity yet again here at 45. Okay, here's one push down below it, a stop run as well. And then now we're looking for our buyers to come back up to this area, 52, and they're already here. Okay, so it's this context of the volume within the structure that we're looking at here. And we have also the order book within the structure, these three elements here. So here it is, let's go through the review. And nice move back to our 52. Okay, and not on high volume either, by volume. Like it's pretty paltry in here. You know, we want big decisive moves here on that buy side. We're starting to get it now, okay? So let's take a look here. Actually, if we can get it now, they've got clear sailing all the way up here. Back up to 60 is a good level here. I like that, and there's liquidity there. Okay, and then we're back to the same story, back into 63, 65, and 67, or 66. Okay, see the buying coming in? I'm looking for it, looking for 60. All right, and I wanna see them break above that and then test up into 63 here. Okay, a lot of stops will be triggered up above here as well. All right, so let me do a quick review and I'll take stops and icebergs off for the moment. And I think I'll take point of control off for the moment as well. Okay, and let's take off. I'm gonna take off everything here. Okay, all right, so we've got structure here, basically, created by Bestbid and Offer. Okay, going back and forth and creating areas of, you know, consolidation and breakouts and trends. Now, what we wanna understand within the structure is the volume. Where is that volume transacting? So let's add that on to the chart now. Okay, so yeah, we can kind of see it here. Our 55 level we talked about, the breakout above and the breakdown below, sellers taking control, a little bit higher maybe in here, but it looks pretty decisive here. Okay, they really take it down. We get a retest back to it. Okay, turn around again, more sellers come back in. We're looking for it to go lower. And then back in here, now the sellers are, the transactions are happening down here, okay? And the buyers can get on the other side of that and lift it to test where those sellers took control in some of these other areas. So they go right to it, okay? But that was it on the buy side. We come back right back down to buy, we're looking for buyers to support it here, okay? Because this is where they came in and keep these guys on the hook here, these sellers, right? Just have them have to turn around and be buyers in this area. They got off the hook, sellers took it down one more time here, okay? Now these guys are on the hook here and potentially if they didn't take any profit or get out here, they're on the hook as well. So and here's the hook, the buyers back up above it. Now the move back up above didn't look too good until we started to see it up here, right? It starts to look a lot better that we're gonna come up into some of these areas. And so we're looking for 60, okay? And we're looking for testing these other areas where the sellers kind of, the sellers took it down here basically, but looking for these other pockets and other areas of consolidation. A good one is right above 60 here, right here. Okay, so looking for the test up into there, okay? Is that, was that clear? Did that, was I able to review this in a coherent manner here? Did that make sense? Okay, all right, Alan. Sounds like it made sense to you. Excellent, buy icebergs in SPY at 440, 44. All right, Alec, excellent, excellent. You can't see stops in icebergs the same way. Yeah, let me go through my configuration in here. This is a nice one too, like nice iceberg buying in here, no doubt. We saw some a little bit earlier as well. So all the way up in fact, a lot of iceberg buying right in here. Now we've got actually some, this is something that I'm, now I am mentioning this in hindsight here because we didn't really look at that. We were looking at these guys being on the hook more than anything else. This is such a nice confluence, such a beautiful confluence. I'll go over the confluence in just a second here. Let me go over the settings first, okay? These are the settings that I have. Okay, it's the simplest one. Summation, accumulate as some, accumulate as some, and that's it, right? I like it, and I do not make the, make sure that the axis alignment here that none of these boxes are checked, right? So what I get here is two different axes. The red one is for the stops and the blue one is for the icebergs, but that's fine. I know that they're different. I just need the context though of the moves. Like I know this is a pretty big move in the stops, okay? And here's another one here. I know that, ah, this is, this was pretty big and this was pretty big on icebergs, but this dwarfs it now. So all of a sudden, here's what we got when we came back down into this area here. We had lots of selling, okay? And buyers can get back above it. Lots of selling yet again, buyers can get back above it. And we have lots of icebergs and a lot of stops being triggered right here at this area here as well. Okay, beautiful confluence. But in addition to this, okay? So we know, we went through the structure and went through where that volume is transacting in this structure. And then we're looking at the, we're gonna look at the heat map here because that gave us a lot of insight too, okay? So when we look at this here, we can see high liquidity in here and it transacted. They stayed in the book and they transact. We see a bounce, we see high again, high liquidity in here and it transacted and traded through and transacted again in here, right? So we got, we've got a, you know, there's lots of reasons here to look, especially at this confluence is beautiful, just beautiful. And I didn't see that earlier. All right, I think we saw a little bit of it, maybe the smaller, maybe it was the smaller move here, we kind of saw earlier, but now we got bigger ones here. And this is the biggest that we have so far for the day, right? No, actually it's not. But it is for this range that we're looking at and that's for sure. What's my setting for volume bubbles? Let's take a look here, right click on it, go to the settings and this is what I have. Volume Delta and I have the smart clustering on, but just mildly here and that's it. All right, and see Sam, I'm sorry, you said you are not concerned about the break of the market structure when looking at the downside. Let's take a look at your image. Well, no, I'm looking for, again, like I don't know if I, let me go back to your question here. Yeah, I mean, we broke the structure to the upside here, but we trade it back into this cluster in here, right? So this is where the sellers really took control, especially here, and they just kind of test above it and then it wasn't sustained and we see the continuation. But this is a good point though, Sam. Like, yeah, you start to see some buying coming in. When you add that into kind of, you can kind of look at this as a double bottom pattern here, sellers, buyers starting to come in and at least test the top of this kind of area where the sellers took control. And then we have a ton of selling down here, but we have a lot of things going for us. We have first off high liquidity getting filled, right? And then we also have those icebergs and stops. And then we see the buyers starting to lift it away from that area, the selling is on the hook. And we're just looking for them to test at least back up into some of these areas where the sellers took it down and up in here as well. The swing is up here and the selling was up here, around 56 or so. So let's go back and take a look now, where are we? Okay, well, we made it. Here's our move to our 56 right up in here. Okay, and we're looking for more buyers to take this up to 60. Okay, we almost got there and then we got a really deep pullback and now we're there. Okay, and buyers are still in control here. Okay, now if sellers come in, where are they going to test them? Anyone want to have an answer for that? Where would, if sellers came in here and so far we don't see them, but what would you guys think? Where might they take it? Let's turn on our point of control as well. Back to a value area. That's another thing to take a look at. Just kind of, it's related to clusters, but it's also just the volume point of control is way down here. So you can get a responsive sellers coming back in. Hey, I don't see them yet. And let's see. So, okay, Javi, yeah, you're welcome. You guys, no, I really appreciate it and I'm very happy to go through the why we think that move was gonna unfold and then review it. But like I said, if you guys are more interested in the forward-looking analysis and then we'll cover that. We can always go over the review later. But we're really here to apply the course content in the live market. So you guys can really learn the order flow as it's unfolding and apply it. And then the next step is basically wrapping some trading strategies around it. And we've talked about a few. There's so many different ways to do it, slice it and dice it with the trading strategies. Yeah, so let's see. The, Alan, you said 44.50, okay, way down here. Yeah, it's not bad, liquidity coming in here. However, the first one I'd be looking at is right here. See where the buyers took it right here in this kind of cluster. And this is where this is on a smaller timeframe. Here's the sellers trying to take control again below that 44.55 area. And then here their buyers are handing it to them back on the other side, right? See again, see the pivot here? It's really around this level here, 44.55. Look for these levels again and again and again. Okay, so they moved it up to 60. And this is where the test would be, back to 55. Okay, so let's see if the sellers go for it here. So looking for, let's see if we get them here. I mean, we know buyers are still in control. We're looking for sellers here in this scenario. And we got to see the red dots in here, a skew in the auction would be good. And then a move down to 55. Yeah, right into 55 here would be perfect. Sam, do you have any questions on that and your image there? Understanding where the trading is taking place? You know, high liquidity as well, getting filled, icebergs also. We have all sorts of reasons down here. And it led to a nice move out of it. All right, so here are sellers, right? They're gonna test it here and looking for them to test here, right here. Looking, some liquidity starting to come in here. The blue, you can see the blue starting to come in a little bit. All right, here they come. Let's see if they can do it now. They should be able to hit it, 55. I mean, they almost always test it. It's really kind of funny. Okay, they got a little bit of buying on the hook here. Let's see, they should be able to do it. But yeah, this is not what we wanna see. We don't wanna see buyers here. Then we can get back up here and then they can break out. Right, we wanna see sellers down here. But this is not a good sign for the buyers at all. See, we made a lower high here. Now we're getting our sellers. Now they're gonna, I think they're gonna not only test 55, I think they can maybe bring it back down lower. There's our 55. Okay, now it's gonna do or die for the buyers here. Okay, they're gonna support it. Okay, sellers from this move on down, they're in control from this very small timeframe. They moved it away. Okay, we need the buyers back up here above 57 and here they come to test it. Okay, that is a low volume pullback. On the buy side, I'd be very careful here though. Okay, so here we go. If this is a low volume pullback here, it's just not a lot of price range. And if we can get buyers back up above here at 57, it's cause this isn't a whole lot of selling. It wouldn't take a whole lot of buying back up above it to have it reach back up into our original targets here. Right, so we gotta look for that scenario here. But so far, this was a low volume pullback on the buy side. You know, there's more selling in here. Okay, so it makes sense that they come back down into this range here. Okay, now maybe they can push the range here, try to push through the 55 level and try to get maybe down to what Allen was looking for back to 50. Here's their attempt at it. And yeah, there are no real insight at the moment. There's buying and selling on either side here. Okay, here come the buyers. They're gonna try to test it and see how they're getting stuffed there. All right, the more buying up here, we gotta get back up above 57 and a quarter here, right in here. That's what we're looking for in that scenario on the buy side. Sell side, we're looking for the sellers down here at 55 and let's see who takes control here. No real insight right now. It's just, this is really back and forth as you guys can see buying and selling, looking for someone to take it here. Okay, sellers took it down now. We're already right back at 55. So this might fail. And if we're looking for buyers back up above here at 57. Yeah, all right, sellers taking it lower. All right, Allen, I think you're on for 50 here. I don't think it's, I just, I don't, I still don't like it. There's something in here like with the order flow. Like just the way the selling is moving here. Now it's moving. So there's your 50. Okay, good call, Allen. Okay, point of control is way down here at 45. Okay, and that's what Alec was looking at his level. Yeah, I mean, so many traders, there's so many people like with that mean reversion trade, Allen, you know, back to point of control. And they really, really, you know, once they get to the momentum, they go for it here. That's where we're going. I still think this is a tough reading here. Didn't like it, could have gone either way. Sellers took it down here, but I still didn't trust it. Strong selling, but you know, it's only like a couple, it's like a point, maybe a point and a half. We wanna see strong selling like this and them to move it. Then we look for low volume pullbacks in continuation. But we want it to be decisive. They've moved it away from an area. Yeah, it's getting messy, David, I agree. Well, yeah, let's take a look at our higher timeframe. You know, well, just on the day activity here, we did not make a higher high here, even on this retest, it came back to 60 and that was it. And we've not really made a lower low though. I mean, slightly here at 45, but yeah, I mean, we're still, you know, still could be bullish here. If they can make a lower low here though, that would kind of confirm it. Yeah, I think there's a lot of mean reversion. Al goes out there, Alan, I would agree with you on that. Okay, Doug, let's see the equivalent, S&P 44, 55 is equivalent to the 445 SPY. Okay, yep, let's take a look here. So we traded down to here and it's bouncing back up. We're just a shy of 44. Highly critical here at 45. Okay, Alec, you've read the use price and volume to broken up in half hour increments. You know, it's an interesting thing. I mean, regarding time, well, there's certain timings in the market, look at point of control, just snap right back up here to 53. It's all over the place. This is getting messy, David, I agree. One kind of big value area up here. Anyway, you know, I think some years ago, I don't know, eight or 10 years ago, like I started to come across like, you know, the idea, I mean, the time is really doesn't matter. I mean, yeah, there's specific times that, you know, like the open or the close or whatever when there's a lot of traders trading, but the market is event-based. It's not time-based. Algos, they don't care. I mean, as long as like, there's a big event that takes place, what is the order flow around that event? So let's take a look at our higher timeframe for just a second here, and I'll get back to some of your guys' questions here. But yeah, I mean, we're still on the hour chart. We're still kind of above, you know, the swing here. So this is still bullish, okay? And also the five minute, or 15 minute, sorry, after I just bashed time candles. I would rather have volume candles in here any day of the week. The problem is I just am always switching the volume. And so I just, it's so much easier to just go with the time candle. And before I had it with the NASDAQ, we were looking at the NASDAQ, they were volume-based. But I had to switch to time just because like it's just too much effort to try to figure out, oh, well, I want to look at this kind of range and what's it doing today with that? And I just didn't have time to do that. Let's see here. Oh, okay, all right, I see. So Jesse is saying which would make sense as the futures. Use the traded, used to be traded on the floor in 30 minute increments. Yeah, yeah, I mean, we're a long cry from those days, but still a lot of people doing it, I guess. Anyway, let's also take a step back here like and look at our higher timeframe again. You know, looking for those trending days and those big candles, like these areas around, you know, the order flow, like we looked at here, I believe last, what this was on, yeah, the 25th, down below some of these swings in here and where we knew there were wicks and buyers previously, that's when we want to look at the order flow around those areas and we did see that, right? In fact, I think it was like we were looking for the move back to a point of control and we said, no, it, you know, look where those buyers came in or sellers came in and then that we can get back up above that and we weren't looking for a reversal at that point, but it was the reversal for the day. We're just looking for a small move and then that turned into a bigger move. It's similar to, and this is a really important point because we don't know if it's gonna turn into a bigger move or not. Sometimes we do, sometimes we can see it very, very clearly in the order flow, but a lot of other times what happens is you'll see that the kind of, we look for the event to take place is being smaller and just to retest to some of those areas here, but then you start to see the buying really pick up in some of those areas and that's when it turns into a bigger, a higher timeframe move. And the read is, you know, when now we're talking about bigger swings, not smaller swings and retest to it, we're looking for a bigger swing and a bigger move. Yeah, and this is just messy again. Sellers, I mean, they took control here again and moved it back down. So looking for them to come right back again to maybe 445, 4445. Yeah, here's some exhaustion on the buy side. Here's some selling here. They should be able to take it down, at least to 4445, maybe 4440 here. Now that's the bigger swing, right? Nothing looking great though at the moment. Again, just like kind of bashing around in here, buying and selling, mostly selling in this move here to the downside. So structurally in this area, same ideas structurally in this area here, the sellers remain in control. They look for low volume pullbacks, move back down to the bottom of the range and continuation. And there's a low volume pullback here, looking for sellers to take it right back down, right back down, 47 and 46. Okay, makes sense. Now, this is point of control here. Now, as far as what I have, and we need to see sellers, big selling move it away from there. Okay, David, do you have a high volume node at 43? All right. You probably are from the London, London, yeah, yeah, below that overnight high. Okay, so you probably had book map open a lot longer. Yeah, yeah, it makes sense. Okay, well, let's go through a couple of scenarios here. We're right smack dab in the middle here, but sell side sellers still remain in control, looking for sellers in this area right now to take it down to, there we go, take it down to the bottom of the range here. And I wanna see them break it, break the range on some size and come back down to 44, 40. Okay, so here we go. They're moving it from the inside to the out. Okay, and they have to do it on size. Okay, so we're getting down into these areas here. Okay, 45 was our first area. Okay, now careful here, like even considered taking some profit in some of these areas because we're at the bottom of the range here. We're gonna get buyers that wanna trade it right back to the point of control, 44, 50. Okay, so you can start to reduce some risk because you look for these buyers to trade it back to the range. Or you can even do both. Take some profit, reverse, and try to trade it right back up maybe to about 49-ish, somewhere right there. Now, how would you look at that? Like, if this selling in here wasn't so decisive, yeah, I would be looking for buyers to trade it right back, right? And look at the volume dots in here compared to some of the other areas in here. It's not bad, it's okay. It kind of really doesn't give us too much of insight. It's kind of equal. So yeah, they moved it away, but not like with big, decisive volume, right? So all we did was get back down here and we can get buyers to trade it right back to it. Not seeing much here. Well, we gotta get going here so it's almost been an hour and 25 minutes. I just want to get a little more insight here, see what's gonna happen here, some context in this little zone in here, the small zone between 45 and 47. We're gonna get our range bound trade or mean reversion, and there they go. Right back to it, okay? Now, how does this buying look compared to this selling over here? Hey, it's less, okay? So for buyers to take control, they gotta get above 50 on some size. If they do, then we'd be looking for this bigger range where the sellers took it down over here. So we'd be looking for a move back to our 55 level. If the buyers get back up above here. If they don't, and we get the sellers that start to come right back in again, looking for them to take it down to 43 and 40 here. Okay, this is the more likely, since we're trending lower, the more likely move is to the downside here. And this is where that, it gets really, I feel it gets very, very tricky in here when we have the selling, we're watching looking at this kind of area here at 50. And even with light volume though, if they can bring it back up, it's a low volume pullback, okay? Usually go with the trend, look for the continuation to the downside. You know, not enough buyers, just move back to where it broke from here. Where this can get at upended though, is when you get the buyers back, if they can just push it and punch it up above here. So low volume pullback, but it can still follow through to the upside if they can get back above here, right? And then you look for that high volume to move it away from that area. Okay, so we look for that scenario, maybe they would have done it here, they didn't. And they still may. Yeah, here they're gonna try it again. And now we got your, this is European close as well. So we're gonna get some volatility in here. Yeah, so what's the strategy on that one? Nothing. Well, let's see, let's put it this way. If you start to see that in here, that big bind back up above it, it's basically you gotta go with it, right? And you're looking for them to move it pretty quickly. That would be the strategy. Stop, you know, I mean, and they should move it right away. So what you can do is you can have a very tight stop on that, right? So again, these are not trade recommendations. We don't do that, but we can go through many different types of trading strategies. So we'll be looking for the big bind up here, okay? Like right now, let's see if we can get it right now, right? And then you just jump in because you're looking for this to move now, right? And then you can have a really tight stop, like, I mean, you could put it, you know, here, but, you know, kind of bottom of this little range. Boy, a lot of times though, I just have it even tighter than that and give it a shot. If it didn't work out, it gets stopped out, look for another one, right? But they should move it immediately. And we'd be looking for them to just pull it up here on big volume very, very quickly, like this here. Let's see if they can do it now. See what they got up here, but we gotta see the follow through. See, this is European close. So this is, and this is tricky timing right now because of this European close, all right? So anyway, that's some potential strategy considerations there, okay? Another one, what is it? Panaments? Sure, sure, you're welcome. Another one is like, what if you get light volume down here on that cell side? Okay, you could trade it up to this area here and then you'll have to figure out what you wanna do at that point, right? See how this one failed here, right? So we're looking for it, we're looking for it and it failed, instead we got sellers down below here. Okay, and now they're gonna come right back at it and we're still, now we'd be open again to that scenario. It's another trade opportunity, it's separate. In fact, it can be really good, especially with a stop run here. So looking for it again and I don't see it, let's watch. And in fact, there is no buying up here. Came right back to it, but no buying, very little. Okay, more sellers at the low. All right, well after this here, I mean, this is European close, so like I said, it makes it a little more challenging here. You just get erratic swings by larger players so that's hard to judge. So here they go, back up, let's see that they should go right back to 44.50 here. Buyers should trade it right back to it. Now, like I said, you can take that trade too, you know? These are pretty high probability. Like when you see that, you know, there's a buyer start to come back in and they wanna trade it back to the mean and then see if you wanna hold it from the mean onwards or not, right? So you'd be in somewhere around in here. You'd probably cover some and then you'd hold some here for looking for that breakout, so that scenario. And here you go, right? Now, I don't like it here. We're looking for those big buy dots to pull this away and what do we get up here? Instead, we got sellers. That's not what we're looking for, right? So this is just a mean reversion play, right? And then I'd cut it, right? Here they go again, see if they can pull it off. Yeah, now they're gonna, now it looks like they're gonna go for it, okay? Yeah, I still don't like it. I would miss this one, even though I think it's gonna go up to 55 and maybe 60. It's just, you know, it's just not quite the look. You know, the big decisive volume that we see. Now that we're looking for, okay? So that, and that leads to these kinds of messy days like this, this back and forth in here. So anyway, lots of stuff in here, guys. Lots of back and forth. Since, let's see, we started the webinar at 10. 10 was an easy call, I thought. Right in here, I think we started right around in here. We're looking for the move up into, what was it here? Well, this liquidity here at around 48 and 50, okay, that looked like an easy move. That unfolded and it traded above it, you know, back up into these areas here. 60 was the next level, that looked nice. Then we thought for sure, due to the high volume in here, we're looking for them to continue on up into higher liquidity here, 63, and then on up to like 65 and 66. And then this has been the entire session this back and forth in here. And saw some nice little moves in here though, that could be traded. Higher time frame stuff though, yeah, it looks like buyers are gonna see them coming in now. All right, so I'm looking for them to move it here to 60. All right, so yeah, this little kind of in, or kind of confusion in here of like, yeah, you know, it's not so great in here, it's not what we're looking for. Yeah, they might do it again here. Like, yeah, you know, I'd probably miss that one. But they're doing it. Okay, just look for something that is a little higher probability. And due to all of this action in here, and it's been very, very sideways in here, I'd be looking for a potential failure on that move. All right, am I in balance setting? Sure, we can go over that. Yeah, Alec, Alec, yeah, not enough volume. I mean, and we're looking at, again, that context of volume within ranges, right? And those moves. So they're doing it. I mean, see how this is just, it's just not as decisive in here. Like, we're looking for like those big green dots here. We're not getting it. I mean, this isn't bad in here. And you know, they moved it to 55, that was the first one, second is 60. I don't know if we're gonna get to 60. We might get our mean reversion traders right now, right back to 50, right? And that's the day it's been so far, right? So anyway, as you can see, what we're talking about here is reducing risk when we don't see exactly what we're looking for. You know, we look for maybe the move to some of these areas here, but then reduce the risk, because it's quite choppy in here. But you can still take pieces out of the market along the way. All right, can I show the in balance settings? Yes. Okay, volume in balance, there is no settings. We're setting order book in balance. I have it at 10, 10 levels on the bid, 10 on the ask. And that's it. All right, guys. So let's wrap it up. We'll call it a day. And it's been choppy. So just bigger picture stuff. Let's take a quick look. I mean, there's still momentum here to the upside. So it's still, I mean, it's been choppy this entire session, basically. But we see our green candles here on the hourly, and we see that we're kind of accepting higher here so far on the 15 minute. If we get a lot of selling back down into this kind of area down here around 45 or 43 or so, then yeah, I'd be looking for them to try to pull it back down. Traders to trade it back down and pull it back down into, you know, some of these other previous areas here. 25, 26 looks really good for starters. Okay, and maybe even down to, you know, 4,400. This is where we regular trading hours would broke out from. Okay, so a couple of different scenarios to look at again, but you can see it was been very, very choppy during this session. So, all right. So yeah, no other questions. Then yeah, we'll wrap it up. Let me know if you have any questions in here. We can go through it. Oh, thanks, Tom. Yeah, guys, look for Tom. He'll be streaming, you know, sometime soon. You're welcome, Doug. And get into some of the volume profile stuff and auction market theory. And we cover a little bit of it. That's our goal here. It's not to, we're covering many different things in here. So, you know, traders can apply many, many different ways. You're welcome. Yeah, yeah, thanks, guys. The, anyway, like again, it's just very, very simply looking at order flow around specific levels. Okay, you know, highlight your levels. And then I really encourage you to go back and use replay mode to study some of these if you're new to book map. And then go back and look at why did some of these levels work and why didn't they? Okay, some of the things that we talked about, you know, you can come back here and look at and start to understand, like, you know, not until, I don't know, someone else said there was a lot of icebergs happening there. I didn't even really look at it. And it was right in front of me. Okay, we had a stop run and icebergs. Look at that, that beautiful relationship right here. Right, but we were looking at, we were really focused in on the buying or the selling down here and the buying back up above it. That's what we're looking for. And then we're looking for tests back up into where those sellers took control. Okay, and we looked at some of these areas here. Like this is the first one. This is kind of the second one, but it's really up in here. Okay, and then you can even go further or, you know, here and then also, yeah, this is, this is kind of, I mean, basically it's in here too, but I really like it here, that's very, very clear. And that's why we marked up that line there at 55, 55 and a half or so. Okay, and then starting to understand the order flow around some of these areas here. Okay, and a beautiful context here led to a really nice move to the upside. Okay, and then look how back and forth it's been. Okay, since then. And I haven't really seen anything since then, except for this move here that we're looking for, a trade back up to here and then maybe a break of it. And then here, I'm not, I'm just not going for it. This, it did it, but it just doesn't look that convincing, it's not really, you know, I just don't wanna take the risk on it. It's not worth the risk at this level. And it turned out to be a nice move. Anyway guys, yeah, we'll do it again. Look for Tom, he'll be streaming soon. And yeah, we've got you covered in here. Okay, all right, thanks for coming everybody and we'll catch up tomorrow same time at 10 a.m. All right, take care, have a good day.