 So welcome to the Bookmap webinar. We'll go through the live order flow and then also the basics of Bookmap, what Bookmap is showing you and then how to start to use it within the live environment. And we'll start off here with the risk disclaimer, trading equities and futures involves substantial risk of loss is not suitable for all investors. Past performance is not indicative of future results. You can go to bookmap.com. You can find out more by clicking on explore. Click on the pricing tab here and you can give Bookmap a free try for a 14-day trial period here, okay? So there's just basically two versions of Bookmap. There are the, there is the basic version and the advanced version. 49 per month, 99 per month, they are billed quarterly and you get that 14-day trial period here. Now the differences between the two are these add-ons and the ability to trade right from the Bookmap chart, okay? So that is important distinction because the transparency that Bookmap is showing you, you're able to use within your trading and trade management very easily and hide behind liquidity with your stops or front-run liquidity with your entry orders and try to just enhance and optimize your trading, okay? So the advanced version offers a lot of very, very powerful new features or features in general. Okay, now for those of you looking to trade equities and you're new here, then you might wanna go with the package deal with the DX feed, okay? The DX feed is NASDAQ Total View and it allows all U.S. equities, okay? And you get a 14-day trial period for these packages as well. Now it's just a package deal. It's the same Bookmap basic and advanced and you can get DX feed with these versions too. You won't get it as a package. You will just add it on later after you get either the basic or advanced, okay? So it's all available here. This is just a package, it's all. Okay, once you become a member, you come into the Bookmap portal here, this link here and there's all sorts of features in here. You can go look at some of the features and components and the education tab. You'll find the recorded webinars and other webinars here. You can also go to our YouTube page, okay? On our YouTube page, you'll find all of these as well. So here you can see all of the features and components here. They're in a playlist, okay? Scroll down a little bit further. They're these order flow video snippets. They go through a lot of the same phenomena that we cover day in and day out here in the webinars. They just go through it a lot quicker. They're a lot more concise with one specific example. Okay, here in the webinars, we're answering questions and we're going through the details and the subtleties of context of this kind of phenomena here. All right, so anyway, that's the quick version here. There's also the Bookmap Education course here. It's parts one through four. If you wanna check that out, I highly recommend it. And just underneath that, you'll find the recorded webinar. So all the recorded webinars are here. Okay, you can see yesterday's webinars right here. And then one down further, here's a trader, very highly respected trader, futures trader 71, Morad Askar, and he's done a number of webinars for us. You might wanna check out and see how he integrates order flow and Bookmap within the way that he trades. You can also follow us here on Twitter and get the most up-to-date information that's out there. All right, so let's jump into Bookmap and take a look. And Francisco, no questions today. Francisco, your questions are great, very insightful things. Don't worry about that, giving me a break. Ask away. You are actually one that is taking more advantage of the webinars than others by asking questions. This is the time to go through in detail and answer these specifically for you because there are a lot of tools here. And it's a very, very powerful program that offers all of these tools. And just by asking, you might find just one little thing that might make a big difference for you, like one, for example, if you're a dome trader and we have our volume columns here, okay? Well, you might not know that if I right-click in one of the columns here, I can format this column, okay, just click on Format, and I can split that data out, so I won't have it in a profile, but I'll have it categorized by the aggressor, okay? So now you can start to understand, like looking for momentum, a lot of traders look for the momentum in the tape or in the trading, and here's a good example, it's just starting to do this right now, so I'm actually gonna reset this, and I can just double-click. And now I've reset that column, and I'm looking for momentum, and look at that momentum, okay? Nothing but sell volume. Well, and now buyers are starting to pop in, and boy, I just can't help myself. Look why they are starting to pop in. We are hitting liquidity, okay, at 24.62, okay? So that's what the kind of insight you're gonna see in this transparency in the marketplace, okay? Just, and that can all start with one small question, it might be something that you really utilize within your trading, okay? So ask away, and get into the details of how some of these things work, because you can reset this again, you can have it reset for specific times, scheduled reset for every hour, minute, or second, or at a specific time of like 9.30 in the morning, et cetera, okay? So it's all the data is here, and up to you. So look at that nice V, I mean, beautiful, a beautiful little V bottom right there, and trading right back into value, okay? So anyway, you can start to put those pieces together, so it's so visual here. We noticed the sell volume, what if you can't, what if you didn't see this liquidity here, okay? Well, you'd be missing a really big part of the picture here, what's going on in the market, okay? The market sold off pretty quickly here, four points, very quickly into high liquidity here on the bid, and look at the reaction, okay? So anyway, you're gonna see things like this all the time, and you wouldn't see that in a dome. I mean, you would see that high liquidity down here, but then that number's gonna change, and it's gonna be something else. Here we've got it recorded, this is what unfolded, and this is why, right? Anyway, let me go back and start off here the presentation and get right into what Bookmap is showing you. Any new users out there? I know that I reached out to you guys this week, so I know Dig B and let's see John and Scott and a few others, I know you guys are new, so I hope you guys are enjoying these webinars and learning a lot, and hopefully you give that trial period a shot, and you can follow along in these webinars, all right? So anyway, anyone else new here that is looking at the names here? Not too sure, y'all look pretty familiar? Okay, Robert, yeah, you are new, okay. Well, welcome, still learning, yeah. Well, plenty to Victor, welcome, first webinar, excellent. Well, again, like ask away, I'll explain what's going on down here in some detail, and talk about a flip of the book, Francisco was talking about that earlier at 24.62, but look at the flip here, okay? I mean, it's a little different flip than what we usually see, I can cover that another time, but look over, they were here on the bid before, now they flipped over, they're on the offer at 64. And above, that's where price is now accepting, all right? And they're lining up here with high liquidity at 64, okay? So this is a pretty wicked little trap right here, all right? And visualized really nicely. So all right, let me stop for Victor and Robert and a few others here, let's just go over the basics, okay? So turn on the candlestick chart here, we're gonna turn off everything else, and we're just gonna look at this candlestick chart, okay? This is a five-minute candlestick chart, okay? The way my zoom right now, I've got 15 minutes of a period here between each vertical dashed white line here, but the, so these are five-minute candles, okay? And what are you seeing in these candles? I mean, you know, what are they telling you? It's, you know, they show you the open, high, low close of each period. You know, the wicks, you start to see buying and selling pressure, like the buying pressure here, okay? And that's good, I mean, you can start to read these, but at best, you're kind of stretching here. There's so much more data that you're not seeing in this candlestick chart, okay? We have a volume sub-column here, or sub-chart. That's helpful, it gives us some clues here that there was a lot of volume in this area here. So that we know by looking at the combination of the candlestick chart and the volume, but we don't know where that volume took place. We don't really know what unfolded in this auction here on this five-minute period whatsoever. We don't know where the aggressors were. Was it a bunch of aggressive buying or selling? We don't know where it took place, how it unfolded, and yeah, that not about covers it. So let's turn on some of the layers of data here. And I'm just gonna turn on the best bid and offer, okay? So historical best bid and offer, that's all we're looking at here on the candlestick chart, okay? Already though, we can see a few different things here unfold within this five-minute period. Just because we have the historical best bid and offer, we can see very clearly this was a V bottom. There was no retest of this, and we can see the speed that took place here. How quickly this moved down and then right back up, okay? And we can also see this little pause beforehand up here, okay? So now we're getting into just because we have the historical best bid and offer, we can see the speed, but we're starting to see some of the microstructure emerge into the chart as well, okay? But let's turn on the volume now, okay? So that problem of understanding where that volume is gonna be solved here, okay? Now we have the complete picture, okay? We know exactly where the volume traded, how much, and what type, okay? Now graphically, we see these big dots. You can get the numeric values, you can click on the data tip tool here and we can hover over one of these dots. And it tells me exactly what occurred here within this dot. I get the date, the time, what was on the ask at this price, and then the volume at this price level. And it's giving me the overall VWAP of this big dot. So for you guys that love the numbers, you can see exactly what's unfolding here by using this data tip tool, all right? So now, let's start to break this open a little bit more though, okay? I'm gonna zoom in, I'm gonna click on the hand tool, I'm gonna hover over this dot, and then I'm just gonna use my center mouse wheel to scroll in, okay? And I wanna, okay, so now each vertical dotted line is showing one minute of data. So this five minute period between here and here, this is what unfolded in terms of transactions. Here's our microstructure here, here's our very quick break of it, okay? With a lot of selling, more selling here than buying, as we can see in the pie display, okay? About three quarters more selling than buying. And then in this period here, it's equal. There's both buying and selling, okay? We actually do get kind of a retest here, a little retest in this area here, okay? Now watch though as I continue to zoom in, okay? As I continue to zoom in, I'm breaking apart, or I'm expanding the timeline here, and I'm starting to see subtleties and details of how this actually unfolded. As I continue to zoom in, we can see, and I'll just focus on that one dot here, okay? Look at this, okay? This is what really unfolded in this time period, okay? And I can show exactly each dot here, it gives me the volume, okay? So, and you can see, look at how evenly spaced these are, the buying here. This is algorithmic activity. They're lifting the offer here. I know exactly what traded. We have a 115 traded within this period. In fact, I can also confirm that with our volume column, okay? And I can format that to take off the VWAP here, okay? So there we go, 115 traded within this viewable range here. This is the action that occurred here, okay? So, you can see that all of these little transactions, it constitutes, the summation of it is 115 in volume. That's how these markets trade today. You don't see those big block orders go through like you used to. Instead, they're broken up and it kind of disguises the picture. You'll see the flurry of activity just flow through very quickly your time in sales. But now you're getting some insight to exactly what occurred. Now, as I start to zoom back out, notice how I'm compressing that timeline. And as I compress this, I'm compressing it into a bigger dot, okay? And it's still giving me the overall, okay? Now, this dot here represents 184 in terms of volume contracts, okay? So I still get the reference here by zooming out, even though each event was recorded and plotted within book map, okay? Now, as I zoom out, I have more context, more and more context on a bigger, higher timeframe, okay? And then we give the overall in the pie display. So that's what you're looking at. And that's how book map records the volume here for you, okay? And now we have the insight. We understand what occurred here. We understand that there was aggressive selling. There was a battle down here between buyers and sellers. And then the buyers took control here and pressed price right back up, okay? But there's still a problem here. We don't know where they're bidding and offering within this chart, okay? We'll usually turn to the dome for that. And we wanna see what the liquidity is at these levels. This is your dome and book map, okay? Best Bid and Offer is right here with the two rectangles. My depth on the bid is right here. And then the depth on the offer is here, okay? Up to this white line, okay? That's the current lit book at this moment, not trading moment, but in this chart here at about 1113 Eastern time, okay? So now we can see these areas of liquidity. But the dome here is good. It gives you the current state of the market. We understand where traders are lining up to bid and offer. But there's a problem here with that because you can see these numbers change and now that current state is changed. We don't know where they were bidding and offering before. We don't understand some of these areas in context to the auction. And then a book map, this is where book map solves that issue, okay? We take this dome data and we extrapolate it onto the chart and plot it. So now you have a historical view of the limit order book. So let's turn that on, okay? Now we're getting a complete picture of this auction, okay? So now look at how, and we noticed it in real time here, okay, how we saw this kind of flip and just more liquidity at 64, jumping in, supporting price into this wicked move to the downside, hit the lows, and then they move right back up, okay? So, but now we can understand and I'll just go through this here. Let's take a look, okay, at 64, okay? Here's 1,160 contracts at 64, okay? As I scroll forward, okay, and as price is coming down toward it, and that's important distinction, okay? Look how that turned into 1,200, not only at this price level here, but one below as well, we have higher liquidity coming in, okay, on the bid. They're interested, okay? And so now we're getting that kind of understanding of, wow, there's a shift in this auction. Buyers are now interested here. They were down here interested. We can see these areas were bright earlier, okay? Now they're interested up here, and that's a big shift, okay? And we can see how price reacts to that shift, okay? Shorter term liquidity that jumps in the book that's very high usually will repel price. It has a tendency to repel price. And it's very easy to understand that statement by just thinking of a real auction, thinking if you show up to the farmer's market, okay? And these white striations here, it's showing more liquidity coming into the book. Well, think of that as just more people coming into the auction, okay? And getting aggressive. They wanna be buyers. They wanna be buyers at high levels here. They're kind of chasing after price. What does that do to price? You know, all of a sudden there's a huge demand. Well, price will adjust to that demand, and it goes up. It's looking for value, okay? So that's what a skew in the book can do to price, okay? And we can see it working here, okay? So that auction theory is holding, okay? So now we're getting a complete picture of what this candlestick and this tail of really the significance of it, okay? All right, well, let's jump back here and let's look at the live market now, okay? And we can see now that auction shifted when we came down into this area, and the buyers are still here, and they're still at 64. And look at the auction here now on the offer. They're up here between 66 and 66 and a half. That's what's going on here. Okay, so now you can see that the problems with that dome are alleviated here by plotting it historically, okay? Current market windows here, okay? Best bid and offer right here, last rated volumes here, right? And you can see it here as well, right? Best bid and offer right here. You're inside level one market, okay? So, but the, and you can see the heat map will be changing in this window here, okay? To the left of this window here, this vertical white line that doesn't change. I mean, you'll see the heat map will, the reference will change here, but this liquidity is now historical, where they were offering up in these areas here. This is historical and it's been recorded, okay? Okay, but in here, it's still lit and they're still, you know, providing and pulling liquidity all the time here, okay? Let me get to some questions here and let me take the candlestick off now, because you can see that the candlestick and some of the issues that it has here, doesn't, you know, we have much more transparency now to what this price action here meant within this tail, okay? All right, questions. Alexander has a lot of questions here, big questions. Let's see, 2062, I don't have a lot of data in here, Francisco, so I don't know looking for that. I mean, we see the trap for sure, one tick below the low here and high liquidity here, but the, I don't have a lot of data here, so I don't know what it looked like before, this around 1015 or so, all right? Okay, let's see here. Okay, yeah, you're welcome. 1108 exhaustion up in this area here. Yeah, I mean, there's some trading up here. Really, well, we can go back and we'll review this, if we wanna see exactly how this unfolded. Let me get to some of the bigger questions here, because I don't wanna keep people waiting here. Okay, Alexander, been using Bookmap for a month plus. Okay. Okay, this is a great question. You're asking about the liquidity, okay? If it's fake or not, okay, let me continue on here, read this. I think most of us are very capable and we've been reading volume for a long time. That's one part of the order flow though, okay? Understanding where the volume is taking place. I mean, this is how understanding liquidity here. I mean, right here, we're looking at understanding liquidity right now in this example at 64. And this is how it can help your trading, right? Because we understand why price, it v-bottomed out of this area, but why is it holding up here? And the answer is right here at 64, okay? And that's gonna give you insight, okay? So for example, if you are bullish on this move, okay? Well, maybe you'd wanna kind of front run some of this liquidity here, okay? And this is a range now. So be a responsive buyer down in this area here, buy and try to dump it off back up the top here. Okay, that's one potential strategy, okay? And now price is coming back down. And Alexander, your question is, okay, these orders can be fake. Absolutely they can be fake, okay? But we wanna make a determination between longer-term liquidity that stays in the book and shorter-term liquidity that does not. It skews the auction and then they pull, okay? So is this longer-term liquidity? It's kind of medium-term at the moment. And because look at how they're starting to pull as price is starting to come down here. I mean, they were behaving differently here, okay? They really got aggressive and they stayed here. And look at the striations though, is as price is coming down, they're starting to pull. So the context of this liquidity, you know, I would say that they're not so keen. I mean, they're showing interest. Don't get me wrong, they're now showing interest here. And they were previously as well, okay? But with this behavior of them starting to pull a little bit and maybe they're starting to build out lower levels here, I have much more context and understanding of this area here, okay? And this is important because as you note, they could just pull, but there's one caveat here and why a lot of them will remain in the book is because if they want to get this price, they have to remain in the book. They won't pull and they won't pull because if they do, they lose their place in line. It's a FIFO market, it's first in, first out. So if they're interested in buying and they're bullish, they're gonna stay here, okay? And I would say these guys here are showing a lack, you know, a little bit of a lack of interest. I mean, there's some still at 64, no question, okay? One tick above though, these guys started to pull. They weren't earlier, okay? So we have a little context to this insight to this area, but look at how they're pulling here and look at right below, okay? Most likely it's the same players here. They're adding liquidity at lower levels because at the same moment they start pulling here, starts to kind of brighten up in some of these areas down here, okay? So are they really bullish? No, but they are bullish because they're still providing liquidity. I mean, it's not as bullish, but they're still up here higher than they were down here. So we have context to this area, okay? And this is how to read the liquidity and put it to use in your trading. And I would recommend coming up here and just taking the volume off completely, okay? Because we're so good at reading volume and transactions that it is a distraction. We're not good at reading and understanding context of an auction, okay? This is a really good view. It really helped me learn about liquidity and context to it within the market, okay? So that's my assessment of this area here. And that's my assessment, but I mean, this is factual data, okay? This is the market. We can start to, we know that they were here earlier. We know that they started to pull and we know that they're adding here to lower levels. That is fact, okay? So it might be, you know, they might not have the intent to trade necessarily at 64, but they're in a zone here and it's a lower area, okay? So in this zone, they do have that intent, okay? Now let's see if we rotate up and we'll test the sellers here at 66, okay? And they're getting aggressive. Let's read the context and the intent of these traders at 66. I would say this is aggressive because here's the swing, here's where price went, okay? And they're below that. So they wanna be sellers. And so far, they're staying in the book, but they, like you mentioned, it might be fake. We will know and we'll get our answer as price comes up toward them, just like when price came down toward them here at 64, okay? All right. So understanding longer-term liquidity that stays in the book has the intent to trade, okay? Let me zoom out a little bit and show, well, I don't have a lot of data here, but some of the shorter-term liquidity in some of these areas here, they don't have the intent to trade. I mean, they're not staying in the book. You know, it's high liquidity that then pulls, okay? But these guys down here, they stayed in the book and we see the transactions that took place, okay? And that's how it can help you is making that distinction and determination between the intent to trade, okay? Now, let's see if we can rotate up and test these guys at 66, all right? And in terms of the market going really fast and being able to still put a value on the liquidity here, well, I mean, we've been doing it here for the last like 15 minutes, this 15-minute period here, okay? And understanding the intent here, okay? So I mean, I'm targeting that longer-term liquidity. I'm not so interested and I filtered out that shorter-term high liquidity, okay? And here's how you do it, okay? You can use the cutoff tools. And if you wanna look at all that noise, then this is what your chart's gonna look like, you know, something like this. And I would very much agree with you, Alexander, that this is very hard to read, you know? This is not giving me much insight. Even though I see all the subtlety in the adding and pulling of liquidity, so what? I'm only interested in those that want to trade, okay? Or have the intent to trade, and let's filter for them, okay? We can really get extreme here if we want, okay? And start to really filter it out, okay? So here's, now we're getting the answer to the intent to trade here at 66, they pulled, okay? So they got cold feet, okay? Where's the next area here of high liquidity? The guys even at 66 and a half, they pulled, okay? Let's see if we get a shift in the book here, okay? And we see interest start to come in with high liquidity on the bid, okay? Maybe we'll trade up out of 66 and we'll have a new level and a new zone where a price will trade and accept, okay? Right now it's rotating back down, okay? Into this trading range here, okay? But we might get, we might see that scenario, that's one potential scenario that can unfold. We'll see them get very aggressive here on the bid and we won't see the dots here because we've taken them off, but they'll lift the offer very aggressively and we'll charge up into 68 up here. And why would it be 68? It's because that's where the liquidity is. That's another way that understanding liquidity can be really helpful, okay? It's starting to target areas, okay? Understanding like, and when they came in here because they're gonna place their liquidity at these areas here to get there first, okay? They want to be first in line. So look for that behavior. Look at how these guys are starting to come in at 69 now, okay? So just note that, like these are areas where there's high liquidity and it's far away from price though, okay? So that's something also to note. And you know, yeah, we'll keep an eye on it. But if we see aggressive buying start to come in here, we see maybe aggressive limit orders bid up price. Well, we're gonna come up and test where the market can trade and it can trade where there is high liquidity, all right? So anyway, play around with your settings here. I think you'll start, I mean, you can get very extreme with this and target very specific things that help you in your trading, okay? For me, this is a pretty good view. I like it, all right? Okay, Victor, let's see, question on the white band and dark band, what is the significance? Okay, well, I just went over that into detail. So I hope I answered your question, Victor. Continue to ask if not, okay? Oh yeah, I mean, each, Alexander, each market is very different. We've been looking at oil the last few days, okay? The bonds are very different from those and all these markets trade very differently. There's no question about that. It's not that, you know, I'm only picking the ES because this is what most people trade. Those in the webinar here are very accustomed to, you know, the S&P or maybe the NASDAQ or oil as well. And so we're just covering the markets that most people are looking at, okay? Now, you know, obviously the bonds, they move slower and there's a lot of heavy liquidity in there and there's also something that you're gonna see in the liquidity in the bonds that you're not gonna see as much here in the S&P and that is a lot of hedging and a lot of pairs trading, okay? You know, you'll see, you know, they'll get into one position and, you know, be hedging in another market or, you know, maybe another financial instrument like the 10 year compared to the 30 year, okay? That goes on all day long in the bonds, okay? And you're gonna see that. And, you know, let me show you an example here of the 6E, okay? And let me zoom out a little bit, okay? Now the 6E, the liquidity in here behaves differently as well. Note these striations kind of every other tick, okay? It's pretty indicative of, and this is the euro, you know, you'll see it even more striking on thinner markets, okay? This is what the, you know, the larger players, every other tick you'll see them start to provide their liquidity. So you're getting insight to their behavior just by looking at the liquidity here, okay? And here it's getting layered, okay? And we're starting to see the interest here, right? Now it's also very typical, these guys will pull, there's a lot of, you know, you see a lot of icebergs that go off in some of these areas and then, you know, move back up. But, you know, again, the same principles are holding true. We're channeling here between high liquidity and market can trade down here, market can trade up here, and these are, these are that longer term liquidity act as magnets, whereas that shorter term high liquidity repels, all right? So those are some of the distinctions and I've gone over this into some detail here. So let me, let me see if answer these questions, okay? Well, okay, let's turn on the volume dots here and let me make an example with how the liquidity can help you, I mean, okay. So now we've got the volume on, all right? So now we can see where the transactions are taking place and let me take the liquidity off. Why didn't it trade down here? Because it didn't. What kind of insight do we have here? Okay, we have no insight here. You can start to argue here, you know, you're starting to see some exhaustion here in some of the selling and that leads to this rotation here. That's true and you can see them right here is where we shift, you can see them lift the offer with the green dots pulling price up into the high. That's true, okay? But why did it stop here? And, you know, now we have the insight and this is how it can help. There, here's the liquidity. And it's not any crystal ball or anything like that. It is just, this is the market. This is where the market is being made and that's that. I mean, it's, you know, why price stopped here is because we had buyers starting, responsive buyers lining up and the sellers did not take them on. Yes, they did start to exhaust in some of these areas here. Okay, and then we rotate back up to where? Why here? Why not up here? Okay, I mean, you could argue maybe the swing high but it's the liquidity here. And this is an integral part of the market, of any market of understanding the other side of the transaction. Here's the transaction where they occurred but understanding where they're bidding and offering offers you that insight here. Okay, that's why people look at the dome. That's why traders are trading off of the dome but where it can be really helpful is when you can start to, instead of even trying to memorize these areas here in a dome because you'll have to because these areas will refresh. Now you can see the history of it, right? Okay, I don't wanna be a dead horse here. See Alexander, but these are excellent questions Alexander. I hope that I'm objectively answering them for you. That is my intent. Let's see, history is one thing, but here. Well, okay, so understanding the history of that liquidity is very insightful, okay? They were interested here, okay? They're showing lack of interest as price is starting to come down but they were starting to line up in some of these areas here we noted, okay? You're gonna read that in a dome is gonna be kind of tough, okay? And yeah, I am interested if price comes back down here, in your dome, were you gonna remember that there was interest here before? Maybe, maybe, and that's not too much of a stretch to know that 64 year round number and there was high liquidity here once before, basically half an hour before, okay? Are they gonna show up again, right? But here I've got it historically. So I anticipate there to be traders start to line up here again to show interest as price comes down, okay? We will see, okay? But that's how it can help you, all right? I hope that answers your question, okay? I mean, I think Alexander, what you're looking for is, the problem here with the liquidity is they can pull it like you're saying. So we don't know, right? And they can pull any of it at any time or they can skew the book at any time with high liquidity. Let's say they jump in here with really high liquidity on the bid, wow. I mean, price is gonna, you know, most likely go whoa and trade up here into some of these areas, probably pretty quickly. But so the transactions though are set in stone. That is true, you know? And that is, we know that there were transactions here, okay? And that is a little more substantial in terms of, just knowing exactly where it traded, where traders are committed here, where we don't know if they're committed in some of these areas because they're pulling. So it's a little more elusive. And I understand that point very well, okay? But these are great questions and I wanna go over them in detail because being able to understand these areas are key and putting it into context. So let's see what unfolds now. We're testing the third time here, no, fourth time, the top of this range. Let's see if the buyers show up. Let's see if we get a skew in the book and let's see if we can come up and test 68 now. All right, okay. That's one of the scenarios that might unfold here. Okay, we might find sellers too, but right now, you know, I'm looking for 68 to get tested. I would anticipate that. Okay, let's see here. Let's move on, okay. Now see here comes some interest here at 67. Okay, that's, look how that repelled price. Okay. High liquidity jumps in here and that put the kibosh on that and now that's new information. That's why it repelled price, okay? Well, we'll see, we'll see how this auction unfolds, but still, you know, reading this here, you know, we see the transactions as well and we see the buying transactions occurring up in these areas here. So that's voting well for having this still being tested here at 67, okay? Now those guys are pulling at 67. We're starting to see some interest come in here at 65 and three quarters, all right? We'll just keep an eye on it as I continue to go through some of these questions. Yeah, I understand your point that longer-term liquidity and then it pulls, okay? Well, as we start to read this, I mean, if volume gave such a great insight to all of this, then, you know, all of us would be making money on every single trade all the time, right? But it doesn't, you know, it's elusive. Like this here, you know, you could say, well, there's more volume trading down here at a low or low. Well, maybe you would look for, you know, continuation but that's not the case. What really unfolded here was there's high liquidity was one tick below. A lot of it got filled down in this area here and we see aggressive buying and it's the aggressor here, okay? More selling down here but then the aggressor comes in here and lifts the offer, right? You would have been smoked down here too, just smoked, right? That was a trap, it was the intent, okay? All right, okay. Well, anyway, you know, I think I would still go through and I would recommend taking the volume dots off of your chart to understand liquidity. Don't focus on that volume. You're already an expert at reading the volume, okay? Now start to read the liquidity, okay? And then then you'll be, I think it'll be easier to integrate that back in and then go through this kind of process of understanding, okay? There, the market is being made between these two areas here. That's why we are channeling between areas of high liquidity. And then as we come up and test these guys here, these guys pull, okay? So the market starts to trade up into this area now here, okay? I'm still looking for buyers to be honest, to step in but with high liquidity on the bid, you know, looking to skew that and looking for a test of 68, okay? But we haven't seen that really unfold yet, okay? We are getting insight here in terms of volume, okay? Very little traded here on this retest to the low, okay? So this is accepting now at this point. Anyway, yeah, try it without the volume dots. I think that might be helpful. Yeah, magnets, magnets, Billy. That longer term liquidity, well, think of it this way. Longer term liquidity in a marketplace, price is attracted to it because it knows it can trade there, okay? So a lot of times it can act as magnets. And, you know, if price is far away, like these areas up here at 68 and 69 are kind of acting like magnets. You know, the market knows that it can trade up here. Where does the market know it can trade on the bid? And this is another contextual insight, okay? This is pretty profound stuff and just a very basic market mechanics here. These areas here, well, if there's not a lot of liquidity and you're not seeing a lot of selling activity here, okay? Then this area here is, you know, rather dead, like a market can't trade here. Market is exploring right now to the upside because it knows it can trade up here, okay? If you look at trends, and let's find an example of a trending market. Let's see if oil, how oil's doing here. Zoom out a little bit. Hmm, horrible example of a trend. What about NAS, NASDAQ, okay? Let's zoom into this area here. All right, let's see if we can spot it, okay? But what you'll see, not a really good example, not so bad, I guess, as I zoom out, is, yeah, it's not the greatest example either, but somewhat true, okay? Look at the transactions down at these lower, or these at these lows, these swing lows, okay? Compare those to the highs. Look at the transactions up here, okay? This is indicative of a trending market, okay? As you get more volume and more aggressor, you know, classification here of buying at these higher highs, it's pulling the market up, and we continue to break and make new highs. And what about the liquidity, where is the liquidity? Well, it was here, they actually pulled here and added at a higher level, pulled here and added to a higher level as well, okay? So it's looking for that liquidity. It's being revalued in the trend here, looking for liquidity on these highs, okay? It needs that liquidity to validate it. That's where it can trade, right? That is, people are determining by showing their offers where the market can trade, and it's determining the value within this trend, okay? It can determine the value in the trend, okay? COB plus, minus, a lot of traders like that, they like to see that what was pulled, and they know their market's very well. Let's take a look at oil, and let's add a new column. I'm just gonna right-click, I'm gonna insert a column here, then I'm gonna right-click in this column, I'm gonna choose a different data type, the quotes delta, okay? So this is what this is showing here, and let's move it. I'm gonna just left-click, hold, and drag it over, okay? This is showing liquidity that is either added or pulled. Positive number is added, negative number is pulled at these price levels. So a lot of traders, they won't even wanna look at the COB, they wanna look at what's added and pulled instead, okay? It's up to you. You have all the tools here to look at whatever it is that you want, okay? All right, let's go back to that S&P, just curious. And then let's see here, okay? All right, so we're coming up on an hour here, so a few more questions, and let me, let's get through some of this, and happy to answer, these are excellent questions, and I hope that they are helping you. So let's see, the next liquidity that has been pulled out as a strategy since auction, is auction, come on. Francisco, I mean, as a strat, I mean, well, skews in the book and the auction, yeah, I mean, that is a strategy that many of the algos are doing, that is exactly their intent in this predatory in a lot of cases. They don't care about trading some of those areas, they wanna skew the book to their advantage, right? And they're looking to maybe, like these guys here, and you can argue. I mean, I don't really see it, maybe a little bit of spoofing type of activity here, and maybe in here, because they've pulled as well, but is to hold the price down, get filled in some of these areas here, and then pull as price comes back up and rotates back up. Yeah, heck yeah, that can be a strategy. It's disruptive, and you can be, criminally prosecuted for that activity if you use it now. So anyway, we're starting to get into more and more levels of context and understanding of liquidity in how these markets trade, right? So we're putting the pieces here together, right? So in this little channel here, I mean, let's turn on one of our add-ons here, because Alexander, your next question went onto the add-ons. Well, check this out, I mean, we can see some of these, this is our iceberg detector, okay? So they're using some, in some cases, some of these traders are using iceberg orders to get filled in some of these areas here, okay? They're not showing it in the limit order book. They're using the hidden order, okay? So maybe this kind of spoofing activity, I always look for this, if we see high liquidity here that skews the book, I'm looking to see if maybe that iceberg indicator on the other side here starts to really tick up, okay? All right, I see icebergs on this side here, heavy, you know, 2,300 contracts as well. So I mean, this area was a battle between the two. Now I see 1,600 over here too. So these guys are still involved here on the sell side, right? And the breakouts here, I mean, we were looking for 68 to be tested, but it's really pretty slow here. You know, there's still a skew to the upside, you know, based on the volume and transactions here, but in the target here, 68, well, you know, we're seeing more and more, you know, icebergs as well. I mean, these guys get it wrong too, you know? So, you know, they'll flip out pretty quickly if you know, the pressure becomes too great, but you know, sellers are involved here and we're not breaking out by much here, right? So it's pretty slow. Anyway, let's see here, get on into the volume indicators Okay, so these, this is an add-on indicator up here, the volume and book and balance and how to use that. Well, it's the center line here is, you know, the measurement graphically. So if you see a skew to the plus side, it'll kind of bump up into this panel here, right? Okay, same for the book, right? And how can this be helpful? Well, you're looking for, you know, more aggressive volume to give you an insight. And then the book may be combined with that or, you know, maybe you're looking for, you know, these areas here, like if we zoom in, you know, it makes a calculation here for the chart range. Okay, so look at, now we have a skew of plus nine. Okay, we know that there's more aggressive volume in here on the buy side. We know that because we can see it in the color of the dots, but now we have a percentage number on it too. You can get very specific. What about this little micro range here? We'll put that range into your chart and we can see that the skew here is 25% now, all right? So there's different ways to use that indicator and then the same with the book and balance, okay? It's trying to understand the, you know, that liquidity and where they're starting to line up here. Okay, yeah, turned on the icebergs. Let's see, okay. Okay, I'm glad this is being helpful for some of you guys here. Scott, at the moment, no, you don't, you can access all of the videos on YouTube there. Friends, Alexander, I lost the reference here to what you're questioning. 1152, does the session volume profile start aggregating when you open up book map? Yes, okay, yeah, you can reset it as well. There are resets available for it, you know, just right click in that window here, okay? Our session range and just click on reset here, okay? And, you know, most guys like to, you know, they won't have the session range volume reset every minute, second hour, whatever, but they'll choose a specific time, okay? And, you know, you put in like 9.30 or something like that, right, for your cash, cash open. That's a great way to use it, okay? All right, Robert, hope that answers your question. Okay, have a good weekend, Francisco. Okay, what refresh makes sense? Yeah, okay, I'll cover that in just a minute here. Simply put, liquidity means buy limit and sell limit orders, that is correct, Victor, okay? It's where they're bidding and offering, okay? And it's with limit orders. Add-on indicator. Scott, I don't know what, if you're in the trial and you have, you know, have the subscription going, the add-on indicators in book map, there are a host of them. You can see most of them here, the iceberg detector, large lot tracker, order book and volume and balance, cumulative volume deltas for everybody. Correlation tracker is another one here. You can have other markets correlated on top. And the ability to trade from the chart is huge, okay? The one-click trading, okay? And the iceberg detector you can see here, okay, I covered that one already, right? Okay, so voila, here we are. We've tested now 68, okay? So that was the target and how did they behave when they got up there? Let's get rid of this, okay? Anyway, you can trade right here in this window here on the chart, okay? Actually, let me demo that really quickly for you, okay? Just choose a size and here are a bunch of limit orders. And now I'm providing liquidity in the book, okay? You can also, you know, move these as you like. And this is what I was talking about front running. So let's say you're a seller and you can front run it by a tick. But let's say this is your stop. Well, maybe I'll hide it behind that high liquidity up here. All right, let's cancel all and I'll disable this, all right? Okay, yeah, you can press, you can also place a stop limit orders. They're available. Let me show you, okay? So we have one selected here and you'll hold down, okay? So let me, left clicking in this window is always gonna be a buy if I'm below price. It's gonna be a limit buy on the bid, okay? If I left click above price, it's gonna be a market buy order, okay? And I'll be filled in the market here. I'll click up here at 69 and a quarter and I'll show you. I clicked here, but I was filled here on the best offer. Here's my position right here, okay? And you can see my position here in the window, all right? So there I am, that was a market buy. Now I can also press or hold down the shift key and then I'm also going to left click, okay? And look at the line type here, it's a double dashed, not a single dashed, okay? This is a buy stop, okay? So if the market comes up here and trades into this level here, this will ignite into a market buy order, okay? You can use your bracketed orders here. Let's flatten the position. And so let's, here I'll do another market buy, and I'll show you the bracketed orders, okay? So here's my target here with the sell. I'll just move it up here so you can see it better at 70. And then here's my stop, okay? So if the market comes down here and touches the stop at 67, I'll be stopped out of the market, okay? This will turn into a market sell and it will liquidate my position, all right? Okay, let's flatten that, okay. All right, let's see, Scott, add on indicators. Any other questions on that, okay? That's one of them there was part of the package is the ability to trade from the chart, which is a really nice advantage, okay? Due to that, I mean, there's so many different features here. Due to the market, or the ability to trade from the chart, we also have some that will allow you to trade some of our automated strategies here. There's chase, escape, and execute, all right? So these are automated strategies and algos that will work price within an area. They work on limit orders. I'll demo that another time. It will take a little bit of time to explain it, but very, very powerful. You can actually have those market, or have your limit orders kind of working like a market maker within this area here. So, and you can see that market making, I'll show you how they're behaving by taking down this, brightening up that. Let's bring this down, okay? So, okay, so here we go. So notice this kind of dark outline around price. That's because there's a lack of liquidity. The market making algos are in these little areas here, providing liquidity and pulling, okay? Providing liquidity and pulling. So that's what they do all day long. And then at a specific time, these market making algos, they will shut, they will stop working. They will remain in line and they'll get filled, okay? They will provide liquidity. And you see it, you'll see it all the time, you know? And anyway, these algos, these automated strategies here that we have can make your orders work very much like that. Kind of mimic that behavior if you like. So it's up to you, okay? You will need to sign a waiver for that, right? Yes, Scott, the add-ons come with the advanced subscription. When you say bookmark helps you locate hunting algos, do you mean I can see those white bands? Well, yeah, basically, I mean, you know, what I'm talking about here are the, is getting back to that distinction between longer-term liquidity and high liquidity and shorter-term high liquidity in it skewing the book, okay? So for example, in this little area here, look at this little pocket, let's zoom in here. Very high liquidity, look at that. You know, just jumping into the book, skewing the auction and, you know, a price starts to, you know, it starts to get repelled by it, okay, and it moves just a couple ticks, but, you know, it did move. And then we trade in this little narrow range here of like three ticks, four ticks, okay? Anyway, and then they kind of jump out, at least in these two ticks, but they remain here in this area, okay? And that's why that was, you know, kind of bullish. Then they start pulling here, that's kind of bearish. And we see another, look at that little skew here, okay? So this is where, you know, it is best. And we can see, look at how, I mean, you have the data here, but it can be a distraction in the sense that we don't need to look at all these details, but it is here and we're recording exactly how these markets are behaving. Look at how this high liquidity here was pulled here, added down here. It's got to be the same player, right? So they're working price within this area, right? So anyway, you know, but we don't really need to know that. You know, we read this very nicely and slowly back here, like, you know, after 1130 here, looking for that 68 level and then 69 as potential targets, okay? And that's exactly what unfolded, all right? So anyway, let's wrap it up, guys. It's been a long webinar and I wanted to go through these excellent questions though, because this is what most traders are asking about as well. Okay, so that's what these webinars are here for, to answer those questions for you and start to understand how to read this market data to your advantage, all right? Okay, yeah, you guys are welcome. Yeah, all right, well, let's call it a day. Let's call it a week and we will catch up with you guys next week. Okay, all right guys, yeah, you're welcome, thank you. Okay, take care, have a good weekend.