 All right, welcome to the book map live trading webinar. This is Bruce at book map and this will be the Live analysis webinar we do every Monday Tuesday and Friday at 10 a.m. But tomorrow we'll have live trading with stocks trader Jay trader And then Thursday we have Scott Balsini futures trader at 10 a.m. Also taking live trades The whole idea here is you got the educational course you have the live analysis that goes through that educational course It is all forward-looking. It's not hindsight. Then we have the live trading So you get a real complete picture here, and it's all for free right now so take advantage of it and Hope hope you guys find it find it valuable here So the let's go through the risk disclosure and jump right in general disclosure all book map limited materials information and presentations are for Educational purposes only and should not be considered specific investment advice nor recommendations risk disclosure trading futures equities and digital currencies Involves a central risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results. All right, so let's jump in and see what's going on here and Take a look at book map boy. We've had some really choppy and and very tricky trading You know a lot of this has to deal with the environment. We're in right now We have some volatility and we have some geopolitical tensions So you really have to kind of keep your eyes on the news and what's happening And and look out because when those events geopolitical news events Unfold the market can really move so be aware of that and the risk That that you're taking here, right? So It's important. It's very very important. It can wipe you out very easily. It could also make you very rich very easily So if we just need to be aware of the environment All right, so let's let's zoom out. We're gonna look at higher time frame to begin with And just get our bigger picture levels of interest Then we want to look at the order flow around those levels and we'll look at market structure, etc So we're just gonna look at a simple candlestick chart from rhythmic our trader here And we have a daily on the left And then we have the hourly here in the middle and then the 15 minute or maybe it's even five minutes here Yeah, it's five minutes. Let's put in 15 on the right Not five 15 15 There we go. All right, and Nice little gap here It's not so little but Let's also show more bars in here Okay. All right. That's good. Okay. Great. Great. All right So we get a little bit inside here. We're above or just testing a level that we put in here on our 15 minute chart Start with a daily. All right. So now this is I mean, it's just uncanny. Oh, it's just how the market works It's not uncanny. It's it's like We we read the order flow here on the bars market structure really not really order flow. It's just like Previous highs previous swings you can see this swing over here on the daily and that we came up and retested that area twice here And it failed Looking for it to go lower and then here you can see the retest today Back to this cluster up in here. See you see where it dropped in here or there was a kind of some swings in here That's where we're retesting right now Okay, so now what we want to understand on this daily chart is well, are we gonna come back and and maybe fill this gap? That's it looks like around 4426 or are we gonna see more buyers come in and they don't care about the gap They're gonna try to trade it back up into maybe some of these levels up here like maybe 4525 or maybe even higher back up to the previous swings here 4580 etc So or are we going to see sellers come in and not only trade back to the gap but also the swing low from yesterday? Okay, so We don't know we're going to look at the hourly chart get a better feel for it here And then the 15 minute chart Okay, the hourly chart We can see that the gap up here nice gap up Above some of these swings right here and we even drew in this level here previously Um, just because of the swings in here, right? More or less. I I believe let let's add a little bit add some more bars in here actually Let's go a month. Okay. There we go Okay, not bad. Not bad. It's this swing over here But we're looking for yeah, you know this this one up here as well You can see it it kind of went to it On the hourly chart here and and it sold off It could come up maybe even to some of these areas where we We see yesterday's action to move down Kind of slowed down here and then it moved again So that was uh later in the afternoon This was the chop fest from yesterday, I believe around that 10 am to 11 11 30 and all that back and forth we're looking for direction so Boy, no that was that was uh This is what we're looking at down here. I guess um Uh as yesterday's action and that chop fest But we we did see this chop fest and this was on friday and we're looking for that follow through and and that that really turned out nicely on friday Beautiful move. Uh, anyway, so we're back up here now Let's look at the 15 minute chart and kind of look at some of these levels here Uh, we'd previously drawn in these levels. Uh, and looking for kind of retest to them Uh, and maybe drops from them as well Uh, so we've kind of tested back up here And um, yeah, I'm I'm not really seeing too much right now In the 15 minute chart now. This is a regular trading hours time frame. So we see the gap Uh, I'm curious to see if we're going to fill this gap or not So maybe we can see a retest back down to this kind of swing low here At the open 44 37 See what's happening there. Uh, let's jump into book map and uh and see what's going on All right, so we zoom into book map here I'm going to put a little more data in here some backfill data If you guys want more backfill data, you can get it. Uh, you have to subscribe to it from dx feed It's not much though. You can it's like 14 bucks a month. Uh, but uh, uh They they do offer it. Uh, so you can get up to 24 hours of backfill data Uh, all right So, uh, yeah, good morning everybody. So sorry about that. I'm just looking over the questions right now deserve free, uh with 13 subscriptions. We need to use this platform. Um Yeah, Alec, I mean you've been just fantastic in here really, uh, enjoy your uh, uh, your input. It's been been Really really good Uh and learning. I mean, I I tracking your learning here in real time Fantastic stuff. Um, all right. So what are we getting from the the order flow right now? Not much We see the the cash open here. We even see this kind of double bottom pattern here Uh, and the buyers came roaring in but not for very long here It just went up about from 40 to about 60 a little bit higher Uh, and then everything really kind of changes around 9 30 of the cash open. You can see high liquidity comes in here Around the 68 level and then up here around this 81 level as well and then you can see the The failure here trades into this high liquidity at 44 60 starts to go back down and then here's the move lower from one Consolidation a range here to another range here Okay, so we can draw up Uh, and and you'll actually see you'll see this again and again, you know, you guys know that Uh, but the there's a kind of a bigger range here and this is something that you see quite often. Um in the Asian session for example Is you'll see like, you know, it accepts up in a range up in here Something like this for a while and then it just shifts And then it accepts in a new range like this Okay, now there's a bigger range to it. Uh, you know, so we're kind of looking at fractal events within here, uh, the um So we're we're in this kind of new range down here All right And we're kind of looking at it and thinking all right. Well, you know, what's this what's going on within this range here What's the order flow within this range right now? Uh, and how can we get deeper insight to it? Well, let's take a look at it and bigger picture, you know, keep it simple here step back. All right, so we have, um We didn't even get a retest back up to where Drop from here, uh in in this range here. Actually a little touch right there. That's about it Uh, and there's been a little bit lower here and it's still making lower lows Uh and uh And lower highs here too Here is a little bit of difference. It made an equal one Okay, so, you know, we're kind of going from this kind of Dripping down or down trending Uh environment here to kind of equal now. In fact, it was a higher. It was a higher low here Okay, based on that Let's see if these buyers can come in right now From 46 here on up to uh 50 Okay, looking for that test here just based on what we're looking at right now In the order flow the buyers are coming in we made this uh higher low here and we see some buyers in here We get a pause We see buyers starting to come in at 46. We're looking for the move up to 50 Right and some iceberg orders in there as well huge 600 and 70 Well 600 and looks like that one already Transacted or it's transacting again here 663 Oh, they moved it. They may may have moved it So we have two orders up there Okay, so that was a really quick scalp or move Uh, but uh, you know pretty pretty easy read. I thought on that That they're going to trade back up into this area here by understanding structure first Okay, that we're we we just went through and then order flow within that structure We see the buyers come in Pause more buyers come in and then look at this skew in the order book too. Okay, this happened afterwards Uh, but it had already kind of reached up here and now they're skewing the book At 45 here. Okay more liquidity at a higher level here on the on the bid Okay, and that's bullish right Now it well Let me take a step back on that Not necessarily bullish. It's the context we want to understand So we know that this action took place, but did we still find buyers after that? That's what we want to know and we want to understand and yeah, we are So we're looking to see if we can now maybe even break through this high liquidity here at 50 Uh, and if we see more buyers Then we're looking for a move back up to this area here where it dropped from and there's liquidity already there at at 55 So let's see if they can establish a new trading range from It went from here Down to here and let's see if they can get it back up to here Okay to 55 so small trading range of it's not that small. I guess five points isn't usually two points is Kind of a trading range with the s and p But with this more volatility in here, we're going to get a bigger range Yeah, they're definitely still in here, uh and uh alec and Yeah, and and uh and dug. I mean they're still in here So let's zoom in and see what's going on here 661 have transacted I mean, and it's it's been holding it down. Definitely. I mean like uh Or you know, I know we have high liquidity there too, uh, but this iceberg started to transact Um Where's my blue line? Show me my blue line Yeah, if I take the automatic threshold off, I should see it It should it should show up in here Because we zoomed out and it shows up. Yeah, there it is. That's weird Okay, I'll report that to the guys um the Anyway, like it started transacting here Uh, and then uh the state in here another just massive transaction for an iceberg at least is pretty big Um, uh, you know Pretty big size here and then another like 100 after that. So we're at 661 and we see another iceberg in here front running it here with four Four have transacted and two orders All right, let's see if they see if these buyers can trade through this high liquidity here at 50 and also through this iceberg Fill it completely and and we'll see how much it is. It is a thousand. Is it 2000? We don't know that we don't know we just know the transactions Okay, buyers could not even get through it. Um, I'm really surprised Uh, the buying pressure was pretty good in here Uh, it it transacted into it here Uh, only 63 transacted and we know that Uh, and that's it So here come the sellers Okay back down to where this move kind of broke out here I'm actually looking to see if the sellers can make it now down lower Uh, to this liquidity here Uh around this 41 area Down here Okay, lewis you're looking at cl Okay, and we got vwap up there also. Thanks dove. Uh, yeah, let me turn on vwap Yeah, we have a vwap right there as well Okay, now we can also look at you know, uh point of control or just most traded level and it's up here too Okay, here goes another attempt on the buy side here Okay, it came down it came down into the point of control of this little area in here Right tagged it here and we're back up again Now I'm looking for these buyers to trade into and I think they can try to bust out and through This 50 here. I think they've got enough buying pressure. Look at the bid as well here See the bid, uh, the blue kind of underneath here. This is looking good. Let's see if they can do it Okay and trade into this 50 uh and above And no Immediately immediately sold off again here Immediate all right. Here they go again. They're going to give it another shot here. Let's see it buyers Let's see if you can make it back up to here Then this blue this kind of came out of the blue here this move here on the sell side what I'm looking at is buying pressure up here here here Uh a breakdown and then more buying pressure up here again And then someone came in or you know traders came in and moved it very very quickly right back down I'm looking for buyers to trade it right back up though again All right, nice cluster of buying up here and I think we can get the breakout Okay, all right buyers. Let's see what you got. Let's see if you're gonna you're gonna come in here Let's see if we can get a little wind at our back on the on the bid here as well And trade it right up to 50 here Okay, now on this one here if we can get the buyers up here I'm looking for a breakout as well. They've tried it a few times on the sell side down here Uh, we have some stop runs down here as well So I'm looking now to break it and then see the stop runs to the upside here Okay, and then break through this VWAP here now like like dove is is is uh Noticing or mentioning here. We have a big VWAP there. Well, do we have larger players on VWAP here just selling? Is that what they're doing? Uh, it's tagged it now one two three four. This is the fifth time Okay, all I know is that there's buying pressure up here. That's all I know Uh, I'm looking for them now they stopped it down here and we don't see selling down below that area So I'm I'm looking for buyers to try to break out through 50 right now There's 50 Okay, and our iceberg is still there 860 now another 200 transacted Okay, now 972 Okay, so there's 50 still looking for it still looking for it now. It's a thousand And they're still there. It's a big iceberg Hey, we're gonna get our VWAP traders again larger time frame traders and just come in and start Like hitting the hitting the bid hard here Not yet We're open to that though Open to that scenario Okay, here we are another retest back up here All right now on the retest Do we get more buyers up here? If we don't look for sellers here at 47 and a half and then look for them to hit this pretty hard Hit the bid hard Okay, first stop 46 next stop 43 Okay, and then after that like yeah, just lower liquidity 40 37 Okay, so a different couple different scenarios here. So here they go. Here come the sellers. Let's see if they can do it now Right, we have some confluences up here. We have high liquidity We have high volume up here on the bid. I mean by the buyers, but they can't seem to trade through it And we have the VWAP as well And now we're looking for sellers to try to try to reach some of these lower levels again Right here is this was our retest to our retest is what gave us some insight here and then the selling in here Right for this move to go lower into some of these areas here first stop was 46. The next stop is 40 44 I said 43 earlier Now let's look at the order flow in here Not much selling is this is not high selling All right, so we're kind of meandering around a little bit What if this was conviction by the sell side? You know with with big red dots in here, we'd be looking forward to trade down here. Here they go Now we're getting our red dots now Okay, so now that was a quick move too. So we got to break the range here for there's 44 and Let's look for lower here Okay, and uh 40 And let's try to 40 is going to be kind of kind of key. That's the bottom of the range here Yeah, Alec. I mean Sellers keep coming in at that at this level. Yeah kind of um not Um is buyers could keep coming in at this level Uh, and they just can't they just can't seem to to I mean they we got to move into 50 That's for sure. We know that Uh, and this guy canceled He's he's he's done. Uh, he got off uh 100 or 1008 and he's finished Uh, we're actually getting a lot of buyers up here sellers like yeah, this isn't bad on the sell side This isn't so bad either. These are pretty quick moves Uh, and then in here we're looking for it and we didn't really quite see that activity here We got it net on the next leg here, right, but we're still getting buyers up here So they're still buying interest in here. So here we go yet again Right, so I'm again I'm I'm looking for the move into this liquidity here and I'm looking to see if we can break out If we can boy not only 55 we should get to 60 And this is a key level for right now No question. We've like we've got the vwap. We know there's a lot of trading around vwap We've got high liquidity and we also have icebergs here There it is. Okay. So now there's our there's our breakout Now Should do a lot better than that looking for higher much higher 55 and 60 60 already pulled. So maybe we can even get up higher here Hey pretty strong volume But 55 is then is the next area to test Okay, let's read the order flow here This is going to be a false breakout Pretty strong volume and a lot of volume behind it here. So I'm still looking for continuation Okay, huge stop run 516 So alex, what would be that? I'll Pose the question here. What would be the the second scenario here? Primary scenario is we're looking for this buying to continue Yeah, what do you guys think? And then let's see is david david w in here the nice little kind of action in here Uh, this guy got filled though, uh, not necessarily ignition algo at all in this case looks like he wanted to get filled That's the big difference between ignition Um, algo This this looks like and we kind of make that distinction here So high liquidity pulled added lower pulled added lower, but then gets filled. Uh, let's see here Yeah, exactly. Um, so there's sellers, uh A break below the 4450 area false false breakout exactly exactly Yeah, canceled ice is a is a big clue. That's that's a good good, uh A good point You know, they they canceled up here. I I'm not sure what it what it means like, uh, you know I mean we could kind of look at it and saying like, okay, they're opening the doors here They don't want to get filled any longer. They just wanted to get filled some somewhat Or maybe they got impatient. I don't know Uh, guys, we we already traded to 55. Okay, that was the primary scenario secondary scenario was this If we came back down to where we just broke out from We because we and we we may and it still may actually we got to keep an eye on it here Um, a lot of times we see the first leg huge stop run Get buyers on the hook after that Then the move back down to 50 Uh, so and that means that this is new buying coming in here because we don't see that there stops We know that down here, uh, and then we can get down below this guy here right around in here Uh around 52 if we get down to 52 I I'd be looking for the move back down to 50 and then it may be even uh 40 45 or lower That would be the scenario Okay, so, uh, yeah Osterman nice nicely done. Um Yeah, yeah, so, you know, that's kind of what we're what we're looking at here. Um Is understanding these levels and then the order flow again around these levels here stops and icebergs has been really nice lately It's been giving us a lot of a lot of good insight here Okay, so now we can go over and now this was kind of a quicker trade Up to 50 and then to 55 Uh the um That quicker trade if that's the time frame you're trading Then you can look to take your profit here uh the um Uh, if you're wanting to hold for a bigger move And that's a whole different ball game Like, you know, maybe you got in here And then maybe maybe you took some off up here or maybe you took none off and you're just looking for a bigger move Your stop would have to be down here then though You know a lot lower Uh, you know at least and just thinking about it here just thinking about it like uh, this is not a recommendation nor a study at all Um is just to to think about the order flow within this range down here Uh, and if they if if sellers can come in and get kind of below this 46 area here because that's the most traded level Or let's say even here Maybe they can retest it back down to about 44 or so But you know, you can almost kind of place your stop down here now. I don't like it because of the swing right here Um, you know, I I would feel safer to put it down lower below the swing But uh, you know looking at and and you know, you guys that look at your value area highs value area lows, etc This the concept is the same uh is like look at this huge range in here Okay, where a lot of transactions took place in here And we can get kind of the market to kind of push around in that area uh, but still uh be um Testing this area then come back up if we get sellers that can come back down into this area and lower Then you got the wrong move basically, uh, and then we're looking for continuation to the downside Right. So that's some some can some sort of considerations here for for managing your trades in here Okay That makes some sense here the um Yeah So if your stop is down here on the higher time frame, uh, you're still in this Uh, and you're you're looking for the move back up into 60 maybe 65 and let's zoom out some more here Okay, where else might it go 70? Okay, look at this big move here. Okay, this was based on the news And uh the geopolitical tensions in the ukraine Yeah, I know I know a trader who caught all of that, uh as well So he was actually in it before but uh pretty pretty nice Not not bad All right, so anyway makes sense now, you know, look those are different time frames um And but then you kind of have to ask yourself again to like for a higher time frame move Like how does this order full of look in here? You know, we know this is geopolitical news That can be upended uh at at any moment, uh, and then Yeah, but you know, you could be looking at the move higher Back and forth and then again the move higher And if that if that's what you're looking at and and that's what the what kind of your um Your view is in here. Well now you got some order flow to kind of guide you And that would be kind of a breakout a breakout trade But you could also look at these areas in here Uh as uh, you know areas of support Where it broke out from in here that again would would also be higher time frame Yeah, you could even trade back Retrace back into kind of this area in here liquidity here at 44 25 and you could still be bullish on your higher time frame outlook All right guys, so let's take a look at this now Okay, so we had the move up into 55 retest back down here a move back up in a lower high And we're starting to see some selling coming in here okay, so Now the buyers are gonna they're they're trying to go back up here again And we have more we have a couple of icebergs up here as well Okay, so actually now I'm starting to like the order flow here Uh if we can get the sellers back down around 51 If we get some exhaustion up here And we make a lower high We start to see sellers come in look for them and trade it right back down to 50 And then maybe they can break it back down into the range and hit 45 or that area We were talking about down here in the profile Just the you know this this value big value area here is what we're talking about now We're getting we're getting our buyers here. Okay Back up to 55 Let's see if they can break out Yep, there we go. All right, so let's see that we got our buyers Okay, we have a stop run And we're already back in the range Okay, so let's see. This is kind of Well if we go with the order flow Um I mean it's really convoluted for the day here all this back and forth in here Uh, I mean but based on this strong move here Yeah, we'd be we'd be looking for the move back up into like 60 Basically Okay, and then maybe 65 and maybe 70 Or 68 Okay, there's some exhaustion there Right here at 55 If we get sellers here around 53 Then we'd love to see them take it down to 51 Little order flow there or a little on the bid. I'm sorry on the offer And buyers want it. They're going for it And right into some icebergs Interesting stuff So I don't know. I mean, you know, we're getting kind of mixed signals up here This breakout was it came right back down into the range Uh, we're looking for the move higher basically but it's trading up into to these icebergs They're continuing to absorb And we can look at the power of this breakout too I mean we we still overall bias is we're we're looking for the upside move Uh, the um just based on this though is it it is Not as probable As uh as as like some of these other moves that we're looking at Like all of this buying like as we covered like all of this buying up here Into these areas in here And uh sellers trying to bring it down lower couldn't couldn't Bring it down lower and then buyers snap it right back up again many times over Right if this was like and we talked about the vwap in here You know understanding the vwap in here the the high liquidity the icebergs as well It's a good case to be made for like it trading back down Uh, but we know that there was a lot of buying up here and if Also the case that many times here one two three four times Sellers never even took it down to here To 440 So we're looking to see like them try to and the buyers take it right back up here We're looking to see if they can bring it back up to 55 And that's where we we do our our range up here From 50 to 55 Okay, all right. So here we go. Here's we got our breakout Sorry about that. I missed that. Um But yeah, this was the kind of overall move we're still looking for Okay, we just didn't like this breakout in here and we didn't like the order flow in here either Nice. Okay, Doug So we're along there with uh with urie or dove Ice cancels bakama 442 level Green dot came in looking for the stop run for 44 50 to liquidity at 44 55 Yeah, and and now we're looking for 60 60 looks very very achievable here I know we're already up there, but and that's a much easier call Um But here's what we got though is like the swing high Uh At least for the cash session here And you know the the breakout here and pretty strong pretty strong move here Here and then just this next breakout up into 60 is also pretty strong so far So looking for them to continue Uh test the highs and let's let's get to the next level of liquidity at 65 65 and maybe 68 another iceberg iceberg executing here a thousand Totally executed and it's going against them Okay, uh 65 or 60 just did transact a bit Hit another iceberg there 200 275 traded there This is interesting. This is an iceberg for Wow detected Okay detected for 125 Oh, that's never mind. That's correct. There's our move into 60 More transacting at 60 Note the liquidity under on the other side here Okay, and note that it and note that it transacted to that's important I'll cover this in just a minute here. I want to see if we get our breakout though See now There's the this guy moved that iceberg up and then a new one came in here too New one came in here 278 just transacted and this other guy moved it. He's moved it twice now. He's up here that 125 It's up here now at this high liquidity level So he didn't want the risk. That's that's kind of bullish You know up at 165 now There's our move 60. All right, let's see if we can get our breakout now There we go 61. Let's get to 62 Another stop run kind of people are just getting battered here Okay, interesting move back down to below 60 So not much of a breakout again not much of a breakout here This is very similar to what we're looking at over here Not much of a breakout and then back and forth and back and forth and then finally it broke out Okay, let's see if Well, it looks like they're going to try to just take it right away here. Let's see if we get our breakout again here Okay, interesting book right now Some see the the the blue here. They're bidding up But it's not really high liquidity, but it's a lot at these levels in here You know starting to kind of skew the order book and we are finding buyers. They're taking this guy on here Now, you know reading the order flow in here You know, this isn't some sort of like conspiracy theory or or um, you know, I mean the market's always testing And trying to understand like, you know, larger players trying to understand like how how much pressure is in here And which way to go with the flow And they've got the size and the accounts to be able to do that You know, see how well it absorbs See if it if it trades See what happens after You know, and then once they've kind of tested it and kind of feel it out, then they can they can really go with a direction You know, so we know that that there was high liquidity here in the buyers and they even got more aggressive here on the offer they lowered it And they transacted and now we're back above it. So looking for the next level. We got buyers coming in here. They're interested We know that now see we can read this and and and um We can understand their actions in here They're they're going to provide it for us and we're going to read it along with them And get some insight So we know there's buying pressure in here. So now let's see the breakout to 65 Okay buyers, you got it. Let's see if they go for it Now they're going to test it up at this level here. They're going to kind of feel it out again up here. It looks like Someone's front running here Okay, it's 64 and a half Okay, kind of dark in here right now Okay liquidity at 60 and a quarter Okay, and some buyers buyers starting to come in. All right. So if we get buyers back up here I think around 62 Uh, I think we can get the move back up back up into 65 here. We're not Not getting them Okay, so here's the first test off of this little, uh, uh consolidation period here around 60 okay, or consolidation and and look at the you know the uh The profile here As you profile traders know is that it looking for a bounce off of the the first test to it So this is the first test. That's actually now the second test And uh, if we get our buyers back up here at 62, we should get the move back up to Swing high and then 65 so 63 and a quarter and then 65 Uh, the order flow around this event here or around that bounce Some selling in here Not a whole lot of buying here, but but no selling down here All right, so now we're looking for buyers up here at 62 and then for the move higher Because we we retested here twice Okay off of that high high volume node Uh, and the retest is telling us something Okay, there was a little bit of selling here followed by a string of buying Another retest no selling looking for buyers back up here again and the move higher Okay, does that make sense Understanding these retests as well in here We're talking about liquidity tests in here now. We're talking about something different Okay, and this was based off of profile Uh and uh aggressors in here, we don't have much in the order book giving us much information in here And here it is again up here Okay buyers up here and then lack of buying here Followed by sellers So now we're starting to build out this profile a bit So anyway, what we were just covering before that it kind of went up here and failed. Oh, here we go. Here we go Let's see what let's see what we get Very high liquidity here two two different price levels Okay, they just transacted the sell that we did find some sellers take these buyers on Okay on the bid Okay, now let's see if we see the buyers take these guys on at 62 though on the offer Yeah, they're interested they're interested there they go Okay, now let's see if we get just a bit more primary scenario now the breakout up into our 65 There they go again more buying pressure yet again. Okay now we got to get back up above it though We we know there's buyers here. We got to get back up above it though here Back up above 62 There we go. Okay looking for the breakout Up to this liquidity here at 64 and a half and then 65 Everything looks pretty good here order book looks good volumes Not bad, but it we're above it here. We know there's buyers up here. So we're looking for the move Okay, we got to the swing The 63 and a half Still looking for more though And it cannot do it right back down Interesting Okay, we're gonna get a stop run here The people that bought that Okay, we can still get buyers come right back up above 60 here. That's possible Let's see So anyway This was uh Yeah, I mean, uh, I I like to move up into 64 and a half and 65 here This is one of the reasons though, like, you know I like to manage my trades with and and and takes them off at some of the swings A lot of the time If I don't it, you know, see something in the order flow around the swing up here Because we don't we didn't get anything up here. The book was pretty pretty dull until until they came in after um I then I just moved my stop up And then break even on the on the stop and I guess stopped out of break even I gave it a shot I was looking for it And The order book really didn't tell us too much in here Okay, but I'm not going to give back my money on that Um, you know, yeah even in here like yeah, you know, everything's looking good. It's just tried it a few times in here Uh, and uh, everything's everything's good in here. Um, you know, it's looking looking real good That should should trade up into there. Uh, we had Some buying up here and then we had a lack of buying here. It just didn't find them Uh, and then if we can get the sellers down below 62 here They're going to move it right back down to to the low or the swing. Let's see if that how that unfolded here Okay, there's our yeah, it happened really quickly There's our sellers and then here's the the order book as well Right, so we're looking for the move down to this liquidity here Okay, and they're pulling down here Okay, no no no sellers yet. No sellers yet. We can still get a move back up Then then we then we get our sellers This is moving quickly um and uh, just uh follow through is uh Little little little dicey a little hard to read They were right back up again though And again looking for buyers back up to this liquidity here right where you drop from Now we're getting into our environment like, uh, we've been seeing here Uh, several days in this chop fest right Selling coming in Majority of the selling down here buyers putting it to them back up Uh, and uh, we want to see them come back up into here though really 62 So and then here's the buying coming back in right in here And then this is our kind of our our pivot point here 59 and a quarter Bo you say back to vwap. Yeah, maybe maybe we'll have to wait and see. Um I mean, this is bullish. I mean, uh, maybe this liquidity here in this move here at 55 See the sellers down below our area here. This is going to be wicked here Sellers down below it we can get buyers right back up above it here If we get more selling down here I'm looking for the move pretty quick move down to the bottom of the range here If we get buyers back up above here Then I'm looking for a quick move back up to 61 and a half Nothing just nothing right now. No no insight at all It's just it's all aggressors here Just coming popping in Yeah, I mean the aggressors have it too and they that's enough buying here to be able to reach this liquidity here at 62 Yeah, no no problem And then they're back up above it so Do they continue? Icebergs are just all over the place. All right. Yeah, let's see it. I'm looking for a quick move up here. Let's see a Little bit more buying here Right here. Come on. Let's see it. Let's see if you can do it Skewing the order book Do we find buyers and then the aggressors are going to come in really quickly and move it right up here If that's the case look at how dark it is in here, right? So that the aggressors can move it really pretty pretty quickly There's some exhaustion some buying up here Just just need a little bit more here at 60 and a half and then they can and then the move All right. So anyway guys like we're you know Uh Even on these little scalps they're they're pretty tricky at the moment They're they're kind of tricky like it's dark in here You know, we want the insight from the order book like those that testing like we're talking about earlier Do you guys have any questions about that or maybe we should go through some examples in real time? And then I'll ask questions Like like right now Like we're we're still looking for the move up into 62 Uh, but uh, yeah, here come the aggressors on the sell side Okay, and that liquidity at 59 is It's not I mean it that's good. Okay 60 now. That's really good now. We're going to get some insight so What what do we think? And they just pull Well, you can see you can understand the test though Now is this a spoof? I wouldn't say this is spoof. It's more like, you know, someone coming in You know, I think we would all do the same thing if we had the big account And here's our move up into 62 now like You know, I was looking for it earlier Uh, and then it had to do all this back and forth in here. Uh, and then it was It was kind of convoluted, but the test in here Even the test in here This one didn't give us too much insight either. I don't think High liquidity in here, that's good. We want to see that and we know that that that it kind of repelled sellers and we found buyers There were very is very short lived they pulled and added lower though And it's like well, it's still dark in this whole area sellers can easily move it back down to 59 Buyers can easily move it back down to back up to 62 at that point And that that's where we're just, you know, we're trying to get insight from these areas in here and It's it's hard With that that that order flow Yeah, boy and and see see how the sellers come right back and to move it like this See how it's just because there's not a whole lot of liquidity in here. They can do that All right So let's see boy, let move your screen to up to get the big order flow off the screen and you'll see what's going on behind Yeah, I'm I'm I'm not I'm just I'm you know, be honest. I'm just not much of a I do like the idea of VWAP because it's one number And that You can start to build strategies around one number whereas moving averages boy. I I have a hard time with it and you you have to study it in in detail but uh and it even I I really like the way Jay trader uses it. That's fine. Uh, it is very specific It's on markets that are already moving and he's looking for pullbacks to averages um I do like that VWAP is one number and we know that um You know larger players use that uh, however, it it For me, it's it's like just you know, try to read the the the structure and the volume within the structure um Then looking at You know some sort of indicator The volume and the liquidity and within that structure And see how we're right back up here sellers removed it right down and then we're right back up again here And they're pulling here Okay, what let's see if we can get some more on the on the bid here And we're not Okay, looking for some on the bid here because buyers they have it. There is some buying pressure in here They're still going for it here There it is. So we're up at 63 now looking for the move higher 65 64 and a half and 65 have been in the order book uh now Sellers can easily move this, you know, very quickly right back down Right, we need to we need to see some conviction in the book here Along with this this volume We're getting we're getting some we can see the blue starting to add in here We see icebergs on the bid as well one on the offer Two are on the bid Okay, at least native icebergs put it that way But good good stuff, will we yeah looking looking for your your pullback in here The um, I just look for the order flow to support that idea Yeah, again, I love to see that that test in here And we're not getting it. We're not getting we're just getting aggressors in here buyers They should be able to have enough momentum to move it on up here um That's where we see these sellers like this though just dump Uh and move it right back down Okay, in fact, so primary scenario is still to the upside here But this this move here um Let's let's turn on Let's look at the stops in here So here's what happened in here The aggressor came in And traded, you know hit hit the bid hard. They they dumped their position Okay, and we know that because like You know look at look at the selling in here Uh, and uh, we know that this is an atomic event one event That's unfolding and look where the stops got filled down here 42 stops were triggered down here Why were they only triggered here? Because first this guy has to get filled He has a market sell order Stops are being triggered all within this area from here on down to here And it doesn't matter where they are His order gets filled then the stops get filled And they're they're dumped here. This is slippage and this is what happens to us Uh, and um, uh, they didn't hit hit that many stops only 42 But this is a larger player that came in and did that All right, let's see what unfolded here. So we kind of missed something here Um, we got up to 64 and that was it And then we got the dump Okay, that looks like spoofing to me. It's not Because they transacted here But yeah, this is this is um, this is kind of classic Um You know layering basically, uh guys look up that um, uh cme rule 575 And you'll see in there that um That document they they talk about spoofing and they talk about layering and this is this is layering here multiple levels Very short term high liquidity very aggressive very close to the market Uh, and uh, but usually in what what makes this the prohibitive practice Is when they don't transact they have no intent whatsoever to transact And this this person did start to transact in here At least at this price level All right, so uh night that that that takes that kind of prohibitive practice off off the table So they they took some risk and they actually got filled All right, but this is just this is what it looks like, you know, this is it So anyway, uh, it very different than it was years ago Um, you know like 10 years ago when they'd spoof like and layering and be several layers Maybe like I don't know the s and p would be like four or five six Nasdaq would be That plus like 10 Funny thing is they only got like 64 stops out of it. That's kind of weird So anyways, is it profit taking or is it new new selling? We don't know But we do we do know that the transactions took place and it hadn't had a pretty big effect in here So some tricky stuff in here But we we kind of knew that already right, so Choose your environment Where our job is is to read the order flow in here Uh, and go through these scenarios As many as we can And we look for, you know, ones that are higher probability Uh But we'll also look at, um You know everything basically, uh and start to understand this environment and this is not the kind of environment I would like to trade in Uh, if if you see like all of a sudden the agress all the aggressors that that just come in and just like move it one way and then move it the other way Um And we're not getting too much insight So, okay, well then, um, I don't have clarity. I don't have an edge And I'm I'm not going to participate in that All right, guys. Well any any questions, um On some of this stuff, and I'm not even sure what to title this webinar here Um, I have to think about that Daisy confused Yeah Alec, well, we can go through some, um Some some simpler things um And the market is confusing And there's so many participants doing so many things Uh when we have the clarity is when we want to take, you know, and we know we have an edge That's when we want to get get back into it Call it back a v-wap pullback to 44 53 Nice I like it good sense of humor more of that is needed. Um, uh I Think you're gonna get it. I mean it's it's starting to shape up in here at least. Um Uh the um You know, we read the flow change in here Are we making lower lows? Not yet. Not yet. Are we making lower highs? Not quite yet either You know, but we see look at the selling coming in now. This has been pretty consistent too Earlier we're reading the buying coming in And the buying pressure and the buying pressure and then now we're getting You know some buying pressure in some of these areas here. It should be able to lift Uh, but then someone's coming in and dumping once Here's a little one here. Here's twice three times four times Right this can shift the order flow here and then bowie you'll get your move Yeah, I mean that you will have to kind of wait and see and look for that shift and um Look for the um Not just the selling down here, but the book to kind of um support it Yeah, what to do when there's nothing to do. This is it's a dangerous dangerous, uh, uh thing to to press the button When there's just nothing to do um The the game here is about managing the risk Looking for knowing when you have an edge and then managing it So don't press the button press the button when you know you have an edge Load the boat. I mean it you know, uh, it's it But you have to know you have an edge And if it's if it's vwap trading then great. I mean here here's a vwap breakout here This is what it looks like here. Let's let's uh Deselect stops and icebergs for a moment Here it is Right, we have the move. Here's the move below it. There's it's all over the place. Here's the move above it Here's the move below it And then here it is as resistance Here it is being tested as resistance And then here's the breakout above it on size Okay And we we're looking for that even though it was vwap Even though like, uh, you know, there was high liquidity in here We know there's buying pressure in here and we're looking to see though if we can get back up And we also knew that if if the sellers are going to come in they're going to come in here as well And there's they should move it then they didn't Uh, so we're back up here again looking for the breakout looking for the continuation Up into some of our levels here We said 55 then we said, uh, uh 60 And then we're looking for 65 And we got up to about here, which is what 60 64 63 and 3 quarter 64 Okay, so, uh, yeah, actually boy, I kind of like your idea now I'm starting to see sellers down here I'm seeing lower highs. I'm seeing exhaustion up here It's not so clear yet, but I'm starting to see some sellers here. Great. Where are they going to move it? Okay, how about here this cluster? 55 to begin with Maybe a little bit higher Here they come Here they come, boy. Let's see it. Now, we don't have the order book to help us here We're just looking for the aggressor to move it down to here Okay, so let's turn on the the The order book here Well, not getting too much out of it yet again Yeah, I'm really not getting too much here a little bit on the offer here pulling on the bid Okay, just retest the bottom here of the range Yeah, uh Yeah, BB guns, uh, yeah waiting for your edge. That's what it is. It's patience waiting. I mean like really, um Any hunters or fisher fishermen in here? I mean, and you know, like, oh my god sitting up in a tree waiting for a deer I mean, you're up there for hours Doing nothing Until until until that deer comes along Yeah, I don't know what you're pointing at Bowie 68 and 65 And why you're looking for that? I mean, I'm starting to see the curl around here. Um In the in the order flow You know, we we just made kind of a Kind of an equal low here, but look at these lower highs in here We're going to get a little more insight here. See how they're testing in the book here What's so what's the reaction to some of this liquidity? All right guys. Well, anyway, look we have the um uh European close coming up And this has been very typical par for the course Uh, we're we're going to look for some volatility right now Uh, just here at the close Uh, and then we're going to look for follow-through after though Okay, so but I think we're going to we're going to end the webinar here Unless you guys have any questions you want to you want to get in uh last minute here, uh, but um The um And boi, I encourage you post, uh, you know in the room you're set up Uh, you know, because I I don't know exactly what you're looking at and talking about here Uh, so that this is like inevitable Uh retest back down to that 52 and a half Yeah, I still don't don't quite see it. Um The um, anyway, we're we're going to have a you know, we we've been looking for these really choppy environments So we get our opening drive around 9 30 and the cash open Boy, maybe we should have the webinar at that time because those are are very easy moves I I feel like and you look for those continuation moves At that point usually one kind of move the opposite direction. Um, and then, uh This is quite typical and then the strong move after that unfolds All right, so here here's our 9 30 Open here the move to the downside chop Buyers come in retest buyers Okay, uh, you could be done for the day within six minutes five minutes Uh, and have a nice move and then look at look at the webinar here Okay, so here here is when we started here 10 a.m In here And look look at look at this right, but we had some good reads You know, we're looking for the breakout. We're looking for 55. We're looking for 60. We got it We're looking for 65 almost got it And then this is still holding here But I I'm I like bowie's idea like this If we get our sellers down here and you can see we're not right now They're the buyers are starting to come in and it looks like they want to go for this liquidity here at 62 Okay, and then if they can if they can kind of get these anyone that sold in here up ended We can get it back up to the highs in 65. Anyway, that's a possible scenario here Uh, the One thing I just want to cover is is again the timing. Okay. Know our sessions Um, and know when like these kinds of moves start to unfold or or may unfold here Okay, so we have we're going to have some volatility here due to uh, You know another part of the world and A lot of those traders closing their positions for the day Or hedging or doing whatever they're doing Uh, and then and then we're going to get some see if we get some follow-through after that event Right, so here come buyers again And actually and look at this look at the dump right and again This is the same same idea that we were covering here. We saw it. We saw this behavior and it's repetitive here Here comes the sellers Right, and that's about the right move. You can even look at some of these ranges in here On these dumps And then every time we've seen that We've seen buyers come right back in So let's see boy, you you're talking about this these areas of high liquidity up here. Is that what you're talking about? 68 80 81 82 Well, here's your move. Okay Move it and see what's below All right, if you could if you could take a screenshot, please That'd be great and post it would love to see it All right, guys, let's uh, let's let's wrap it up though and uh, european clothes look for some follow-through later. Uh, and um Uh, it looks like bowie's got got something here. Uh, and uh, what what happens after it tested? all right, uh, let's uh Love to hear your thoughts on that one too So, uh, guys have a good day. Uh, look for uh, tom b to start streaming pretty soon Uh, and hopefully you guys get a nice move here and in more kind of pure direction Uh, then we have in this uh, this webinar here But we saw you know, a nice little solid kind of like, you know 10 or almost 15 points here Uh, and then now we're getting a move back into the range here Or back to back to vwap basically or back to where it broke out from Our 50 level uh and a little bit higher here Okay. Yeah, thanks guys. Have a good day and uh, we will uh meet tomorrow We'll go over the s and p for about 15 minutes and then j trader comes in and we'll go over some stocks Okay. Yep. Have a good day everybody