 Hello guys. Good morning. I hope you're all doing good today. Welcome to another live Bookmap webinar. We've got JTrader joining us today, a professional stocks trader. These webinars are held every Wednesday at 10.15 a.m. Eastern Time and are part of our free education here at Bookmap. These live sessions give you the chance to look over the shoulder of a professional trader and see how they use Bookmap in their trading approach. Once we get going, please don't be shy and feel free to ask questions either in the YouTube chat or the Advanced Webinar Discord channel. A couple of things to run through before we start. We've got JTrader's contact info here. If you want to reach out or hear more from Joseph, check out his website, JTrader.co. You can also connect with him on Twitter at JTrader.co and just going to run through this disclosure. All Bookmap limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Live trading is in simulation demo paper trading mode and strictly for educational purposes. Live trading executed in simulation cannot accurately represent realistic trading performance. Trading futures equities and digital currencies involve substantial risk of loss and is not suitable for all investors. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing one's financial security nor lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Now just waiting on JTrader guys. Ah, there you are sir. How are you? Can you hear me Joseph? Good morning Sam. Yes, loud and clear. Good stuff. We'll start preparing my screen. Okay, I'm set to be here with the screen. Okay. Okay, you're good to go. All right. So hello traders. Session today on with Sam over here on Microsoft. So earning play. We had substantially good morning price section for what concerns on Microsoft. I was following this using S and also the overall sector. First of all, over here I'm looking at the bigger picture so we can see traders Microsoft on the daily chart. So we'll start doing analysis over here so that you can understand my lines and how I do this. So first of all, I start with the daily chart and we can see over here we have a structure which is lower high, lower low. So we have a market bearish for all entire here 2022. Now this point over here on Microsoft, we don't know if this will essentially be the higher low or we had like over here that we started making higher lows and then why so we need that to clear this 261, 262 resistance and then essentially starting making dips over here. So only on the break of this level and then starting to dip, we'll have a bullish shift into the market scenario. For now over here we have no play for what concerns on the long-term, a long swing. That's very important to clarify. Then I move over here to the early chart and I start digging more into the price section that we have on a daily basis. Essentially looking, you can see over here all these levels are or pivot points or levels of high volume profile nodes. So we're looking into those areas over here. What I like this morning was this low over here. So this is not inside but this is my analysis that I provide to members in the room. So this level is an important level for support over here. We have a demand but also as a cool flu is also these highs over here. So it's a pretty important level at 231. Over here I'm going to share the analysis that I did this morning and we can see over here this is 742 Microsoft earning play. I explain or I'm looking to play an overhounder. So essentially I fail to the shore side. So shorting with target 234 and then 231 remember 742 AM or dip into the pre-market support 234, for reversal to the upside. Essentially you can see that we had this and the chart that I shared also I post this on socials. From time to time I will put this on social like macro analysis over here in the higher time frame HDF together with order of flow and book map. So we can see that we had over here the trend line I was looking for this level over here. This was still early pre-market and then I set over here my levels 231 hit and then over here also 234. So cool flu is over here of signals for that 231. Very important area. The next we say step is looking so using book map and looking what we have around 231. 231 we have a big support area. You can see over here high liquidity zone. We had a major over here bear trap. So we had over here a break of this 231 and this is what the smart money or the big ends how you want to call it is doing. So they're collecting over here on this point. So they're collecting over here the stops from the long players. They're collecting also this breakdowns short sellers and then they start pushing back up. Essentially is the play that happened in the last not yesterday but two days before on Tesla. So the market was essentially giving morning breakdowns and then right away push. If you go back on Tesla even on yes you will see it. So here we dipped into this 231 and then we start bouncing over here and my next step will be going 30 minutes 5 minutes. We can go check the 5 minutes pretty reliable time frame that I like to use. You can see the previous lower 231 and this morning over here this was the open A plus setup. Well yes this is essentially what we had perfect pattern over here over under fail 231 and then push back up. So I'm going to put over here a couple of notes and I will also use over here book map. We're going to use this and this and this point and this point. So the first part over here of our analysis and our watch list while straightening over here the shorting level of strategy and target from strategy plus book map. So we had over here confluence of signals right. So over here TP 231 from watch list. So if this is not inside this is the plan that I gave at 742 looking for I'm sorry I have a little bit of cough today looking for the confluence over here of signals. Now what I'm expecting is if you break this level over here 234 we're going to see this or a possible fake out of this 234. So essentially another bolt trap at this area like this and I pull back right to into the 233 or I'll push the 234 okay. Over here we're going to look at Microsoft. So we had over here at the gate as I said over under and we're going to look right now for that or fake out or 235 okay. Over here you can see that's a correct break 234 so it's not faking out it's not having and giving a bolt trap. Now it's pushing strong to this 234 and 50. Next target will be 235 waiting this push. So we're going to revisit over here the trade. In this case we're going to go red to green so this is the important area so this green area is the open level above. We're going to push over here next step 237 so watching for that and now also looking at snow. So this is a gap that we had this morning above 100 on the day and we had over here a good trade short this morning. This was the resistance I was watching this 250 area. We had a short in here over here 240 shared in a room explained to my members timestamps everything. We got it over here 240s and this is one of my favorite patterns. You can see this consolidation in this area just in the pre-market and then starting to break the slow you can see all the way down distribution pattern came over here to the first target okay the first target started to curl 10 o'clock holding over here the open level now strong over here that's the reason why I have a precise and strict risk management so now we have a breakout high ball in this breakout short out of trap when I see that I'm short over here we get to the first target and I always say stop to break even now just waiting over here what looking for or the fail of 250 and lower highs lower lows to reshorter again or simply avoiding over here okay now this is strong in the moment you can see over here the breakout the volume stepping in and we need just to wait that area on the daily there's at this morning war there's 260 so you can see high volume area another main important reasons over here is 328 and of course we'll consider also the hold on a number so these are the three main levels that I'm watching over here so holding this level over here this blue line is the pre-market eye you can see a ton of volume was straight over there 245 watching over here as I said or for that daily level now we got the 259 it's breaking down the pre-market high so what I'm looking here below that pre-market eye is going to be another rejection where I can get in short on this area here okay I'm looking that for now we have a fake of the pre-market eye let's see if we can have another tray short just over here we see now sellers in some drop over here drop over here so they're selling over here probably longs over here that they got in they're just like when parabolic over here in this short squeeze now they're selling they sold over here they're selling a bit more over here what's microsoft as well so we had our push over here to 235 no short yet on this making lower highs this is a nice place that we had on book map gap and extension play we can see over here this morning fail I mean when we see this big fake out over here that's 720 this is the pre-market is the open right away extend the 750 you can see that over here we cleared two main resistances and then started to unwind these are some of the best pattern right now that is happening in this market because for now this is fader support over here below the open level this green we could have pops probably into this year of consolidation 630 over here we have a consolidation air 63640 we could have pops and still unwind over here Tesla this morning remember earnings season alright so start looking at when we have earnings this is going to be today tomorrow this week the whole week over here will be pretty interesting we had over here what I call the three-way pattern so peak peak peak we had this trend line break and then over here you see my levels I placed this 13750 140.70 and then over here this morning we had this 14280 so we had a morning push over here this morning I tried to grab partial of this on the long side then you can see over here we started like to to fail right okay here these three bars one two three so they're making lower highs at this point lower highs they're making higher low so there's a contraction over here you can see this flag or pendant right away they push and then they start fading all the way down this is my analysis on hourly so this morning I was saying or we're gonna have a push until this trend line over here we can look for a rejection or we're gonna have a breakdown of this support and the main target here 13750 on go if we are short 160 now hold this right with this 130 BXRX we're short from yesterday the 620 so we're here all the way down charge sheared everything explanation in in room so we're holding that BIAF we had a short yesterday 350 holding next start gonna be two dollars so we're gonna hold this for two dollars again all plays alerted time stamps in front of all room and we're looking over here for all this unwind we can still get to the two dollars okay BIAF over here nice extension yesterday all right let's go back to Tesla I'm watching we hear the possibility of a short below this trend line and rejection you can see that previous support now become a resistance so I like this pattern also we have the target as we said before this 13750 so potential still unwind watch as well traders at ES all right so here we have the previous support now resistance just quickly Joseph we've got a question yep Stan is asking what are the colored cloud areas on your charts I think it's talking about the volume dots or maybe he's talking about the the J lines I'm not sure but these yeah these are a J line so appropriate indicator that I use it's one you know one tenth of the system that I use are Fibonacci Expansion moving averages based on the Fibonacci numbers what I see over here over time is that they are essentially a guide for the trend so we can see we hear the first part right of the move on Tesla when this is above these other two so we have this selection this is bullish over here we have a so we have over here our markup of the chart this uptrend over here we have the distribution why every single push over here to this high is rejected so we have sellers in and then over here we're starting the possible mark down so the reversal the pattern on the break of this neckline 140.70 that is for me the the level that I need to watch in case of a reclaim we can go and push to 143 below 141 140.70 we're going to have them wide okay so Tesla over here above 140.70 is going to be a target to 143 instead below 140.15 we're going to have a target of 137 they're starting to reclaim over here the 140 we have some buyers over here you can see that they're trying to stack that 140.15 little higher highs over here on Tesla so I didn't long over here the lows I'm waiting over here if you can fill this trend line and have a rejection or simply avoiding this is one of the main plays that I main stocks that I trade during the week so I have every high confidence and pretty good win rate on something like Tesla main liquidity 140.50 remember getting traders to that main neckline over here right so at this point over here is a pretty high resistance area so let's watch over here so strong not a fake out for now just strong over here tape you can see how their break they broke over here the 140.50 and it's simply up trending so strong not finding a trend just waiting over here a lot of traders tell me when you see this big level of resistance are you shorting or are you selling if long well no imagine over here that this is still making higher lows just look over here even the five minutes hard higher lows besides this bar over here that makes a lower low that's you know part of over here the beer trap making still higher lows the trend is clearly up we're making also higher highs over here so do not find something like this when it's strong just stay with the trend and respect over here the price action so holding this 140.50 up trend let's wait traders have patience over here already treated six stocks this morning a good green day if you're in my room read you can see all that I trade in just trade with me or look how I'm doing it so for now I'm just waiting the pattern so I said the pattern here would be a reclaim of 140.70 and a curl okay so consolidation then bind dips too long or a rejection of this 140.70 a trend line break rejection in short okay so essentially I'm looking for two main plays this is one and that one would be instead a trend break and I'm looking into short here and long here okay so over here what what I like about this is over here the the bear trap at this point and pushed it upside same bear trap that we had over here the gate that's the reason why I was looking to long this and see still traders over here volume and now we have to wait no reason too short good liquidity over here there we are 141 what you see traders is that we're claiming that support area okay now let's disappear support area at 140.70 if we reclaim that the next star is gonna be 142.70 143 so this here over here I'm not buying the breakout like over here I will be looking for a consolidation above this here 140.70 and then looking to take a long go buyers over here so a lot of buyers possibility over here of an unwind okay just a pullback nothing crazy over here so you can see that we had a one to triple top and we can have a unwind over here ideally to this 140.30 but over here we still have no confirmation of the backside of the move that we saw before we're holding this up trend line right so you can see over here where we are right now because I said I want to see a break of this 141 consolidation above and then looking too long or below the trend line a rejection and shorting pops still below this 141 so the fact that we are pushing into that resistance a pretty good sign so big strain over here off the trend you can see over here the bear trap at the lows started making our lows our highs now let's see on this breakout I was going to develop there we are 141 breakout so I can see over here a ton of buying pressure look over here massive buyers okay book map you can see the confirmation of these big dots over here big blue dots so these are the buyers and now we're looking at that level of 141 here and ideally I want to see a consolidation so I'm not buying breakouts like this because often they can get right away a pullback directly again to a support so I want to see a breakout then a consolidation and then taking the lock so I'm waiting for that play so bouncing from 141 so big support and at this point I'm looking or the dip or no trade for me over here this is going to be just strong over here you can see these bars these bar making our low from this point over here 1053 this is already six consecutive bars okay if we're going to have a continuation of this trend I'm simply going to avoid taking the trade I want to only filter the A plus setups at the higher low because over here so I'm selling at this 142 stack over here here for resistance 141 90 a little back to Microsoft I'm still bounce over here no play at the gate over here the only main a plus sorry no play over here this morning at the gate in first few minutes but then we had a perfect unwind over here on this unwind below the jail is below the VWAP and now bounces we explain over here from this 231 and you can see over here now it's just like making up upper our lows and lower high so we have a consolidation area if you're going to hold this and start curling today what I expect is target readers we're going to be a fiber choice in an area this is how you have to do it from here down to here you want to look for those swipes from this point to this late area so we're going to look for 236 and 43 okay you're going to hold this that is going to be my target this area here that point over here I can look too short otherwise I'll look too short below the J lines below the VWAP as well and looking for a rejection you talk about focusing on a plus setups there Joseph I've got a question kind of on patience as traders we feel like we should always be doing something and spending all day watching the market can sometimes feel a bit frustrating so do you have any advice for anyone that's impatient or impulsive when they're trading yeah patience means essentially respecting your setups respecting your strategy and if you have no patience means that market will run you over patience in selling at the correct price so patient in waiting for the correct entry so a lot of the times we have to just sit and wait sidelines is not that we make money simply by taking a trade but also we make money by waiting for a trade and a lot of times I think in the career of every trader you will see a moment that you are more anxious you have more FOMO and how you prevent this well first of all you have to have your routine so understanding every single day that you're trading only when your setup is in play a routine to create a watchlist where you have these playbook setups and you'll be waiting for them the second thing is I would say management also off your shares management or your contract depends management also off your targets and also management off your risk-reward ratio so if we know that we're going to be profitable working with a certain setup because we have tested it and we know that we're looking for that risk-reward ratio so we're not going to cover or sell our position for one-hour profit but we're going to look for what our system tells us so that could be 3, 4, 5, 6-hour whatever that is and we need this kind of patience to hold often for the targets so it's not only traders you know patients in waiting for the entry because a lot of time traders are let's say not profitable and they're waiting for the entry they get maybe one hour 1.5 hour profit and when they get stopped out maybe 60% of the times they get stopped out one or 1.5 hour 1.5 hour loss what is going to happen you're going to not be successful and therefore you have instead to look for management's rate correctly so it's not only about taking the trade but it's also like holding your targets that's what I believe makes a trader profitable in the long term. All right yeah very good thank you for that. You're welcome so we're here at Trader we are back with Microsoft and we're seeing over here we have a wedge this is a pattern that as I said I traded the gate no but I wait the first few minutes seeing the rejection and then over here we short it in our plan over here we explained exactly with the target 231 over here 742 231 is target so we're looking for over on the two short that's the A plus setup and from that level we had a bounce over here and we went to that 234 which was another important level over here you can see this green dotted 233 and 80s then we had Tesla and over here this morning we had four main plans according to what was going to to happen in the in the scenario so I can bring up over here Tesla and this is my trend you can see over here all the way up we had over here a bounce play just last week console edition here this morning pre-market this was very early okay so I made over here the plan around 747 50 and I was looking for this side over here so this 146 and 50 for a push into it in a rejection the second one I was looking for a long in case of a fill of the 140 reclaim of this year 141 and then push to this target high the third one over here was on a fill 140 I went to look for this target here 136 so we go back over here on Tesla what we had over here was a fill this 140 we didn't get to this support over here 137 50 came back up so we can see that we have bars over here stepping in reversed upside now potential push to this 143 as we have proved to have bars over here at the lows at 139 140 so at the open level over here 141 still a lot high liquidated here nice set of higher lows the same top so we have over here two possible scenarios level of resistance this 235 we're gonna put over here Microsoft 235 level of resistance so we confirm the break of the wedge of this 235 as we were saying and start bouncing on this 235 then we're going to look for this area here want to see a consolidation above this here we're going to look for a possible divide looking for the upside what I don't want to look instead what I don't want to see instead is exactly what's happening right now so we had a fake breakout over here coming back in the range and just started to do this all the way okay so I would prefer to see a consolidation look into longer here this area and then taking a reversal long play any more questions Sam's I think that's it from from the chat I caught up yeah you've talked about Tesla somebody was asking about Tesla but we've been covering that yeah Tesla right now open level as we said at this point target is going to be 143 when I see over here reclaim like we did this morning so dip right away push back up over here now targets 143 143 we can look off for a rejection again and back into the range or consolidation above 143 break of this trend line and then more push the 145 so the next target I have on a hourly and daily chart over here they're trying to break this 142 let's see if they're going to push it these points of red to green it's a pretty good level where a lot of traders will jump in if we go green on the day so traders will be looking for a reclaim of this 142 and then after they'll be looking to play this long on a hold over here of this 142 which is the red to green area feel strong above 142 so it's dipping over here and starts curling now 142 and 50 is going to go that 143 we didn't have a consolidation just like for now breaking out and pushing back down to the 142 I've been only looking too long over here with some consolidation into the 142 area some of the trades of today are short on Amazon over here this is from the team Dan any more questions I ran a poll there on on YouTube asking people how many trades they take per week on average the results are quite diverse it's kind of what you would expect as everybody has different strategies and approaches but I'm just interested to know how many trades on average would you say you take per week per week we can say around if we're talking about stocks I differentiate because I trade both small caps and big caps so let's say I'm only looking at big caps I would say around 10 trades per week more or less okay so generally a couple of trades a day if I'm trading small caps I would say around 15 putting trades per week okay oh I'm you know not scalping I'm trying to take you know one or two position per stock per day maybe even only one if I you know take the other right one then of course if a position is running I may take partials so I could still consider you know one trade but I will scale out or I will possibly even know sometimes re-add if I have another setup but I would say like for big caps two position a day so like around 10 per week and and does it vary quite a lot like do you go weeks where you just don't see your setup and you just patiently waiting I almost have every single day the setups so it's very rare for one day I take no setups because the strategy that I teach works on a daily basis on a daily basis so is is really just like waiting for the pattern just like taking the trade and that's it that's it yeah the most popular was over 25 41 percent of the viewers take more than 25 trades per week okay so active traders day traders I like that some active traders I also posted in a a quote there if most traders would learn to sit on their hands 50 percent of the time they would make a lot more money yes that's about picking your moments and waiting for your a plus setups and not being impatient exactly I mean everybody can get impatient the point is if somebody makes an error that enters and it's anticipating just you know like recognize it maybe you can cut it right away at least that is what I do when I see something that I did wrong I cut it right away and then I can re-trader later without you know a bad average or like adding to a losing position which I I don't really like to do in my trading so I have fixed rules for when I take trades same I need to do to close over here today a little bit earlier so what about if we can wrap it up over here it's around 11 20 yep sure maybe maybe you got just 60 seconds just one one final question if you've got time someone just worse can you quickly talk about the importance of one minute one minute candle close and doji's or inside bars I mean maybe it's not such a good question actually one minute is quite quite a random noise but I'll let you talk about it okay so we will need to trade to talk about this I at least one hour okay I use candlestick patterns in my trading and this is candlestick recognition pattern recognition that could be you know Harami and Gold thing doji inverted hammer hanging man all of this the point is alone it doesn't really mean much but in a scenario where we have other tools together with a candlestick then those can become some good entry points in your trading okay so is using those candlesticks patterns together with other signals for example you could have a let's say a doji stuffed together with a big heatmap rejection together with the vweb and that could be a good short okay or vice versa for long so a lot of these have to be filtered together with other signals that's the most important thing okay thank you that's that's great and as always so much value you've provided and thanks guys for watching if you learned something please hit that like button and join us again next time we have Scott Pulsini tomorrow and Joseph again next Wednesday thank you all for for watching thank you very much guys see you next week and thank you tray safe bye bye bye thank you