 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map We're doing the live analysis here Monday Tuesday Friday. It's all forward-looking 10 a.m. and The concept here for those of you who are new in here This is the education that you get with book map When you subscribe to global plus and the whole goal here is apply what you've learned from the educational course in the live market That's what the live analysis is for here because book map is a platform. Okay, we're not a trading strategy So we want to cover many different things answer your questions, but it will be forward-looking analysis So you can apply what you've learned from the course. We will cover various strategies as well as various trade management methods so But we offer live trading with J trader a stocks trader on Wednesday and Scott Balsini a futures trader on Thursday, so you can look at their specific ways of trading That's that's the goal here. So it's a very complete education that you're getting here with book map. Good morning. Guido. Yeah, so You can stay up to 10 30. All right excellent Yeah, you're a long long time book map user So it's really nice to see you back in here Let's go through some disclosures and then we'll look at the live market a general disclosure all book map limited materials information and presentations are for education Educational purposes only and should not be considered specific investment advice nor recommendations risk disclosure trading futures equities and digital currencies involves a substantial risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results. All right so let's jump in here and Yikes, I got I want to go through this so quickly. We're looking at the S&P actually And it's dropping here and you see the sellers coming in right again here. We were just looking at a pullback to Let's see here. Where did it pull back to a beautiful pullback to 80 kind of kind of looking for that And and you know now we see the sellers come right back in pretty heavy selling here All right, let's just zoom out here. Let's get our bigger picture approach And the reason I picked the S&P today was we might jump over to the NASDAQ But it was just showing high liquidity for the demo purposes in the previous webinar Beautifully here 4,700 right here and look at the sell-off after trading up into 4,700 after the 930 cash open. We're looking at quite a bit of data in here since yesterday. This is right around What time yesterday? This was last night before midnight. Yeah, okay, so this is the entire overnight session base Well, big big chunk of it Yeah, so Anyway, yeah, they continue on and yeah, we're bigger picture. We're looking for down to this 4660 and then 4650 here It's that's where the liquidity is and you know, you can see they actually pulled here at 4660 So, you know, it's gonna be it's not gonna be an easy rise gonna be back and forth all the way down Or if we get all the way down look at the buying icebergs In fact right now I'd be looking for them to try to lift this back up into 80 here or this liquidity here at 78 Because look at the buying coming in Right and we already saw some some buying here. So just looking for them to trade up to here for now Okay, 78 Right just based on that's where the swing is that's where the liquidity is and it was also based on insight from Not only the context down here, but the buy the the stops and icebergs people getting stopped out on the way down Look at the buying icebergs in here. So beautiful Buying in here started right around here Okay, all the way down to here All right, so what does that mean it means that All of these players larger players that are buying now they're starting to sell some maybe they're taking some profits here but The you know, they were buying all the way through this move here And so highly likely would be it maybe a pullback to this area then right Somewhere around this 80 level here If they're buying all the way through they're likely going to be in profit certainly above this area here But likely up into here Okay, because they're buying on the way down getting filled on the way down. This is how larger players get filled And they that's why they use iceberg orders because they don't want to show their liquidity in the order book They'll absorb as price goes against them or they'll stay in the order book and they'll get filled Okay, so now we can see them we understand, you know that dynamic in here We're looking to see if we can find more aggressive buyers at this point Okay, lift it up into 75 and then back up into 80 All right now, you know, we're not quite there yet, but we do see the buying coming in And we saw it over here. We caught that move And then you know, I jumped over to this webinar and missed the move to back down to the downside here and but here we are again and What's unfolding here? So you look at the selling in here pretty heavy selling. Okay, stop run iceberg orders And we came back up and we tested above this swing here and we found buyers up here All right, so let's see if we can maybe We're looking at where they broke out from here Okay, right around this 4670 level and we're going to look for buyers to support it Okay, so We're not finding that right now Okay, but what if we get big green dots back up here and we're not Okay, so sellers are going to try to take it a little bit lower here. Maybe down to 66 here Yep, and they're pulling down at 66 as well All right, well, let's just take a look at this market structure though I want to cover this market structure is just so important to understand Okay, we're making lower lows here still making lower lows lower lows lower highs But here we see a little bit of a shift There's a kind of a you know a lower low or lower high here, but we're now we're making a slightly higher high slightly higher lows here Okay, so we're looking for potential And I know it looks kind of messy. Let's just you get my point though We're looking to see now if we hold that structure Okay, our buyers still holding it. We see the buying in here. We see it in here as well So they're in here, right now. We're looking for them to lift it here. Let's see if they can do it Hey right here at 71 Okay, the order book looks good on the bid here starting to bid up But what is the reaction to to that? These orders here. We're actually finding some sellers So we're not quite quite ready yet We want the opposite effect. We want this to repel the sellers and we want to find buyers here now We're starting to find them Okay, so let's see if they can come in now here. They come all right. So they're trading into there looking for the move to 75 Uh, and the liquidity here they're getting out of the way So and we're finding our buyers. So we're still looking for the move up higher here to 75 Okay, and then ultimately I I still like to move up into this kind of swing up here Uh 80 I just don't see much liquidity up there at the moment Okay, so a little bit of a pull back there already to where we broke out from here We didn't even get to 75 yet A little battle starting to shape up here between buyers and sellers But we're starting to note the buyers coming in here and this is a huge downtrend huge All right, but look at the buying cluster in here So we're going to go through a couple different scenarios. I'm still looking for them to pull it back to 75 Okay, and here they come. So the buyers have control here if they want to continue They've got it look at the buying Okay, so we want to see them come up and trade into 75 Now the opposite scenario is what if what if sellers come in here and completely dump on the market like this big red dot here And trade down below this little swing right here at 70 69 Okay, that's when we're going to see A continuation down lower most likely Okay, there's our move into Just about 75 Just just one tick shy of it We should still get it though. Still looking for it. There we go. There's 75 Um, now, you know, I like this structure. I'm looking for them to break this smaller structure here I want to see them come up into 78 now Okay, they're supporting it here in the bid at 73 and a half Okay, I'm looking for buyers to stream it up into 78 Then maybe our 80 level that we were talking about but the liquidity is up here now at 78 and above Okay, looking for buyers to lift it now Okay, we're starting to see maybe a potential reversal it reversals are challenging They take a while to work out, but we're starting to note it in the structure here So yeah, we just kind of made a very slightly Lower high here or equal high. I'm looking for them to break it though Okay, and then move it on up into 78 Okay, and I'm looking at the context between the order book And the volume within it and if we zoom out we can see very clearly see that volume here So I'm looking for them to lift it up into here Okay, we've already gotten to 75 now we can also cover in here how to start to Put together a potential trading plans or Strategies here and trade management Okay for looking at some of these moves. Okay, let's see if the buyers can lift it here. Here they come Okay, and I want I want to see them lift it a lot more than that I want to see them stream right up into 78 and I want to see a stop run to the upside as well down here Okay, the buying pressure is pretty good I love this 78 level would love to see it even come up higher But this is going to be kind of a key level in here. This is where the seller's really pounded it here Okay, here come the sellers. They're trying to trying to Drop it here. So we're getting a little bit of a battle. Look at look at the bid here Or I'm sorry that's on the off That was on the offer No, I'm sorry. That's on the bid That was on the bid Very high liquidity and then it then it flipped flipped to the offer here And they got a trade through that did they trade through it yet? Oh, they pulled Yeah, so buyers should be able to lift it now. Yeah, they pulled so yeah, we're up to 78 See how we can get insight from this here. This is where that battleground took place Okay, now as I moved away like now now we see our streaming up into not only 78 But we're looking for our 80 level here and look at the buying coming in Still looking for This level here 81 and a half Yikes, look at that big sell dot And so we know the sellers are still involved in here and this makes sense actually This is our structure right here. This is where we drop from this is where the sellers came in So we can see sellers are still in here. We just we just validated that All right, let's cover how you can go through different trading strategies on this and and For those of you who are in here today, I just want to go through a little bit about this education and and what's our goal in here And that is like You know to give insight and read this To start to understand how these moves may unfold Okay, and then what's so nice about this In this in this type of a structure of education Is that we're not emotionally involved in it? Okay, we don't have a position on so For example, I recall a bank trader Um Asking the posing the question To a group of traders like when are you you your best trader? Anyone want to answer that? Any idea when are you the best trader alan? I know you know the answer Exactly when you don't have a position Right, you're very objective. You're clear in your mind You can go either way Right, but you're going to read it objectively On a sim account. Uh, alexander, I would disagree with that. I think sim accounts make you have ego. You have emotion You want to be right? You know and then you miss Others other transactions or or i'm sorry opportunities Right, you'd be holding on you'd be stubborn Uh, there'd be revenge like how dare the market move against me on this. I I read it right, you know um, so, uh, uh, yeah, I would this is why I I um, encourage you to you know, those of you who are new to book map Just read this first go through the same process. We're going through in this webinar Okay, read this order flow and give insight to where you think it should move and then go back and take a look at it Well, why didn't it move there? Okay, what did I learn from that? Okay, what about the market structure? What about the context between these elements in the structure? Okay, look at this massive iceberg here. Look at the insight we got from this as well Okay, there's also up here iceberg selling here Okay, so a real big battle here, but we can also we also know That these guys in here they made their money Back it went back to 80 You know, they're they're in the green here because they bought most of that that iceberg buying Well, it started up here like I said, but if they're gonna let um layer into this all the way down to here the swing low They're in the they made money out of it Now now they can now they can sell on the other side here Right, and if they are if we get our sellers in here right here right now I'm looking for them to drop it down into this liquidity here Okay at uh 68 very very simple Uh simple things that we're looking at here Okay, and we can cover um, you know, we we saw this kind of starting to reverse and it still may turn into a big reversal pattern here Okay, not hands off at the moment here, uh, because we see a lot of selling and we see a lot of icebergs in here Okay, so we really need to see some distinction here Uh, and things always get a little trickier, uh, right around this time Uh, you know, not always but um typically They see see the sellers in here buyers in here. They're fighting fighting here Trying to get it above 75 back up into here. See if we're going to trade or trend start to trend And you know, it takes a while for these things to turn around Uh, anyway, let's let's go through so we were we noticed this here previous webinar We noted the buyers coming in looking for a pullback only Okay, we got it Right, then then, uh, uh, we see more, you know, sellers come in and then we started to note look at this interesting More buying coming in here. They made a higher slightly higher high based off of this structure right here Then we made a higher low here and what did we find here? We found buyers So we're looking for them to lift it. So we're looking for that move to 75 Then we're looking for the move to 78 Uh and potentially 80 because that's where it dropped from Okay, so there's your setup here by understanding. Um, some of these levels Uh now how how might you get in? Uh and read this here This is very personal and up to you. We can cover many different things here Uh how to start to uh Piece this together and look for something that is higher probability Right. Well, we noted the structure. We noted the buying And then so we're looking for buyers to come in here Uh, and they did so in here You you'd be looking for this move up into, um, yeah 75 right here Okay, so around this area in here Right, so uh, you you could get on a pullback here because you noted the buyers in here You could get in a pullback here. It's not my style I know that we have a higher low here And we and we don't have the volume down here Uh on the sell side, okay, if there was a lot of selling down here likely it would have broke Okay back down to 65 64 63 whatever Okay, we don't we don't see it here Okay, once we get we get the buying back in here. This is where I like to enter Okay, now you could put your because you you you could justify it You know, you have to go back and and um, uh do your due diligence and study this But you noted buyers in here you're looking for that pullback You noted more buyers coming in here And they're and we're making a higher slightly higher high off of that structure in a slightly higher low Off of this structure down here And we're finding buyers So we're just looking for the move up into 75 And then if we can get that then we're looking for the move up in this liquidity up here 78 Okay, we liked 80. We just didn't see a lot of liquidity up there So, uh, yeah, so you could bet you could buy in your pullback your stop would probably go down here It's really up to you on what time frame as well. That's why you know, it's so It's so personal. I mean like what time frame are you trading? What is your risk parameter? Uh, what kind of move are you looking for? Are you are you looking for holding the rest of the day? Uh, or are you looking for just a quick scalp, etc All right. Now the goal in these webinars here is to go through, um, uh, as many instances as possible So that you can start to read this and get positive feedback based off of your read Okay, Guido, uh, that should uh, you know, you've been in here many many times over Okay, I hope you find that helpful Right, so you can start to read this and start to understand that it might There's a higher probability trade that is going to come up into the 75 level All right, uh, Alan as well. I know that I know you're all over at Alan You probably cut the move down the move back up the move back up again. Um But looking for higher probability, um, opportunities in here based on our read of the structure and the volume and uh The limit buy and sell orders the supply and demand It also nice nice little thing in here was the the flip. Well, not really a flip of the book, but uh High liquidity here. They're starting to pull refining buyers and then they're on the bid here Uh at this 73 and a half level All right. So, uh, so anyway, uh, yeah, you could have been in, you know involved in You know this anywhere in here your stop could have been, you know anywhere in from this area 69 On down to, you know, 64 something like that Whatever depending on your risk and your time frame Okay I especially on reversals Especially on reversals I like to take partial profits I would have gotten out here at 75. I may even front ran it 74 and three quarters Uh and uh gotten out a position just to position and move my stop up to break even And hold the rest for 78 and i'm out Okay That's it I look for the next one now What what else unfolded here? Well, this is starting to still play out pretty nicely And look at the that we made a Still a higher high and a higher low here and we're finding buyers great Back to 80 looking for the move back to 80 here Okay, let's see what the order book tells us here. Okay. The bind initiated down here at 74 So the we could get a pull back into this area here And that's starting to unfold a little bit Yeah, let's see if they can squeeze it a little bit lower here 74 ish Yeah, I can come down in in even into the 72 and a half ish area Okay, are we ready here? Are we ready to move? Let's see. Let's see if these buyers show up I don't like this dark area in the order book. I I don't feel very good about this move Uh reason being is they're not really supporting it underneath here Okay, I do like this area at 80 But I want to see them pull at this liquidity at 80 as well if we want to see a nice reversal take place here I want to see them pull at 80 I want to see you come up and you know up into this higher liquidity here 85 for example Right, and we're starting to find some buying in here. So yeah, I'd be looking for a move to 80 here a quick move to 80 I just don't like it. I I I'm looking for that move. I don't think it's high probability I think sellers can pound on it down into 75 very very quickly here And I don't want to get caught up in that it wasn't giving me a very High probability setup Okay, whereas in some of these other areas this is looking pretty good Anyway, this context of liquidity along with You know the market structure and the volume within that structure Is is what we're reading here. So here look at the sellers here I'm looking for them to trade it down into 72 and a half Okay, they're they're they're coming in on the other side here right nice move here buyers A few buyers here, but now some sellers. Okay, great moving for the move lower Here they go. We're already at 73 or tested 73 I should have said 73 is basically it It really is 73. They can come down to 72 and a half, but I really like 73. I'd be out of that trade All right If I took it to the downside here Right because you know, we have this kind of potential reversal We see a lot of buying coming in here Because so that would have been a scalp down again from somewhere around here 76 and a quarter down to 73 And I'd be out full position on that one I just don't see high probability, you know as high probability trade here Right so again, you know starting to understand Your um your order flow reading here Along with your trade management So, you know getting in full full in full out. Okay Now I've I've been covering this for for quite a while now But you know, we're looking at who's in control and taking Uh The market a specific direction moving it away from a value area Right now it's establishing a big value area down here But it's the sellers that are still in control here on this whole move And they came in here hard big big volume dropping the market Okay Now for us to get back up above this area here now, we're getting our buyers here I I'd take a shot at it and just try to ride this up into 80 Maybe 82 and a half here maybe 85 I like the volume here Right our structure is holding and I like the volume here. They want to move it away So there's 80 already Okay, maybe I take a partial profit there I know that's a bit of a scalp, but uh, I want to reduce my risk And now that's you know my way of trading You know it was in here somewhere around 77 and a half or so on up to 80 Okay, and uh out a partial position move my stop up Okay, not not I like this volume here Um, but I want to reduce my risk Okay, Guido. Yep. Take care um, all right, so anyway, um Yep likely you get stopped out here break even on the rest So, uh, and I'm fine with that Okay, I'd still be in this As you guys can see it didn't come down to 77 and a half Volume looks good And here they come now. They should be able to break it 82 and a half maybe 84 85 here 85 is where they were earlier. So I like that area and so let's kind of Edit this a little bit here All right buyers back up here again looking for a short squeeze see the selling in here If we get buyers up here, we're gonna get a nice little squeeze and a stop run to the upside up into 85 So I'm still looking for that to unfold here now. There's quite a bit of selling though So maybe we maybe the stop or the you know, the the trap volume is going to be up here At the high and we see more sellers down here at 78 All right, so none of the either of those scenarios are are equally valid at this time Okay, I would I would give a more of a nod though to the uh The buy side because they're the ones that came in with the the heavy volume here So I I still would go with the the buy side I would have a slant toward the buy side But you know, there's both buying and selling in here So we're gonna see who gets it right or who gets it wrong But I would I still would have been in this or it'd still be in this from that 77 and a half level So and the only reason I'm mentioning that is so you you guys can start to understand like All right. Well, you know, how high probability is this? I already took partial profit at 80 still in it And there's no real reason we're starting to see maybe, you know kinks in the armor here um or chinks in the armor, but like uh the um And and a lack of buying here. So sellers could come in right But we're still going with the overall move here Okay, and and that's so we're going through some trade management with the order flow here Right and so far so good. We we stayed with the trade here Okay, we're just noticing that in here the selling here now This is going to be a beautiful stop run because these guys here that sold here's our stop run to the upside And that that that was uh anticipated starting to understand why this stop run may unfold here Hey, the selling in here. They're buying here Yeah, they're selling again up here Okay, so again, this can continue on up nicely into 85 and 86 maybe even 90 here Because they're still selling here Right, so we forget buyers are above it here now the opposite We've got to go through the opposite scenario and I think this is going to unfold here. This is going to be a false breakout Yeah, so if we get sellers down below here where they just broke out from these guys are trapped Okay, looking for sellers to try to try to drop it now back into the swing or this liquidity maybe at 78 Okay, so now that's it that can reflect this order flow reading can reflect on your trade management Maybe maybe exit that second leg. You know, why not? We don't have a clear reading take take the rest of it When we have something that's really clear you can always get back in All right buyers still trying to still trying to get up above here and sellers come right back in Okay, liquidity is on on the bid down At 80 and below and they're on the offer up here at 85 Here come the buyers one more time now I still don't like this here because look how dark it is underneath here So there's compounded right down here very very quickly In fact, we made a lower high here If we get a lack of selling a lack of buying here and some selling right here at 81 and a half I'm looking for them to drop it into 80 and maybe maybe a little bit lower here Okay, just going through these scenarios here And we don't see either of them right now Okay, now I'd give a little bit of a nod here to the sell side looking for the sellers to drop it down into 80 here There we go. There it is beautiful Okay, now, how did how did I read that? understanding market structure And volume within that and then also the order book Okay, a little bit of a nod right in here looking for sellers to come in and drop it down to 80 Okay, understanding what the order book from this because in here It was dark They're not bidding up Okay in this structure. Well, they're they can't make a higher high here And we didn't find any buying in here Okay, so looking at now structure and then volume within the structure No buying here if we get selling here, they should be able to drop it easily down to 80 Okay, quick scalp for you know a couple of points Okay, and they're still dropping it likely down into this liquidity here 77 now Okay, so based on based on this this reading here Okay, we were we were long Okay, we would have gotten out partial here at 80 holding the rest Then then we started to note some things in here. It didn't didn't look so clean and clear Exit the other position Enter a position short and get out here at 80 That's that These are just considerations so you know You can apply what you learn from here and consider some of these things Okay, likely you have your own ways of trading your own Very specific You know trading plan Okay, but adding this order flow in here is going to be really really nice Oh, hey Doug spot gamma levels at vwap at 683 Okay All right, so Doug is looking at and let me show you something here if you guys want to take a look uh Doug plus here. He did a protrader webinar. It's right here. You might want to check this out He's talking about gamma levels spot gamma levels Within uh within book map spot gamma is um here from the marketplace Brent kachuba from from spy gamma. He's an options expert. So he they developed these Options levels within book map and you can you can get them here from the book map marketplace If you like uh, Doug has developed a whole strategy around this and he's looking at these levels up here And he noted there's a gamma level and that's what he's um You know noting here Uh in the in the chat Okay, so his trading plan he has reasons now. He's studied it. He's looked at it. He's looking for um You know a certain behavior around some of these options gamma levels Yeah, we have some excellent traders in here Okay, so look at look at the buying coming in here Okay Yeah, I don't I don't like it. I mean like yeah likely it's going to trade to 85 I I'd give the nod to it, but I wouldn't I wouldn't be in it It's starting to be really back and forth in here But the buy volume and the trend continuation is what we're kind of looking at here And look at them pull now between 83 and 85. So buyers have a clean street here clean path All I need to do is start buying Okay, let's see if they um Take the the bids here and then add them up higher here and let's see if we get buyers Then you can see we're not in fact, it's the opposite We're getting the offer starting to show more here and we're finding some sellers not much but some See the offer building out here. Okay, see them pulling on the bid now This allows it not that clean street to the upside here Well, now it allows for sellers to hit it down into 79 and a quarter Okay, now we're getting all the sorts of things starting to happen here Now they're on the bid with very very high liquidity and the sellers just took them on Okay, look at them again here. Look at that skew in the order book and what was the reaction buyers Okay, so buyers should be able to lift it now to 85 Okay, now they just transacted sellers transacted into this 82 and a half And they transacted it here again So it's actually really kind of both right now. It's kind of giving a convoluted Outlook here because we're seeing the the aggressive buyers But we also see that high liquidity and the sellers took them on on the bid So we're finding both buyers and sellers in here And now we're back above it finding buyers Yeah I'd like to move up into 85 I would give the nod to that but like just from the order flow reading here The continuation up into 85. It's just I just don't think it's high probability So that's my assumption And then we looked for you know things to kind of Support that assumption See how see how I could waffle back and forth here. It's not waffling. It's reading See how there's an exhaustion here on the buy side. Well, we don't want to see that You know, it allows sell it more sellers to come in here And now look what we have though a little bit here on the bid. See how they're bidding up in here Okay, so it's getting interesting now Bidding up at 81 and a half Okay, what's the reaction to by the aggressors here? Not much If we get enough buy dots up here big green one, we should get a move right up into 85 And there's some and it should do it but I again, I just don't like it Like I wouldn't want to risk money on it right just kind of uh separating out Understanding looking at the order flow looking for something that is more probable There it is Well, not quite 85 yet Still looking for it though Look at the sellers come streaming in Yeah, Alan looks like the um, yeah the equity markets are on uh Viagra, um well I mean, there's a lot of volatility here. I mean like this is a pretty big move There's very very steep sell off here, right from 4700 down to um You know 40 46 65 ish or six All right 30 34 s and p points Okay, pretty pretty big move Okay, so uh Doug you're looking at the spy and you're looking at uh Move to the downside Oh, look at this area up here guys. I can just unbelievable. I mean, this is um fascinating stuff here I mean the spy here is the obviously the etf of uh s and p e many Look at these areas of liquidity up in here massive just massive Well, 31 000 shares, um 5 000 Or 9 000. I'm sorry So you can start to align some of these areas in here in your, um etfs or or others To think where price might go or at least the correlation between these two All right, so we just we're just shy of our 85 level and we sold off and then uh buyers are coming right back though Boy, it's been a while since we've gone through the s and p. We're seeing some good stuff in here So we'll continue on with it. I'll jump over the NASDAQ for a second here I just you know, I I love this market And uh, I mean we it's not that I love the market that that we covered is just uh We see follow-through in this market and a lot of people are either trading the es or the or the NASDAQ Especially in recent years the NASDAQ Uh, because it's just been on fire um High liquidity up here, uh didn't trade into it at this kind of uh 16 to 90 level Going back to the s and p um Yeah, you know Not really the uh kind of reversal that we want to see here, right? um So this is still trend continuation to the downside In fact because like uh that buying that we're looking for in here Well, look look look at the price movements Okay, it's still holding the structure. That's true still making higher highs. That's true higher lows um, but um You know look at this kind of move here Compared to this move to the downside Okay, so we know that buy or sellers are still in control on this move So let's see if we can get actually, you know back into structure Maybe move back down into maybe this swing here It lines up with our diagonal line as well Looking for sellers to come in right now and drop it into 77 Okay, I like this 77 and a half level here. They come already So, uh, yeah, and still looking for them to continue here Okay, so 77 and then maybe maybe even 76 there's liquidity down there It's just gone to the bottom of this range and bouncing back up I'm looking for sellers to come in again though And this is just to pull back here Now we can talk about something interesting on the pullback Again talking about structure and volume within the structure Well, look at the sellers. Look at the buying And look at the bars as well. Not just the dots the bars. It's mostly selling So this is a low volume pullback back to 81 where it broke from I'm looking to see if we can get more sellers here again and then break down to our 77 and 76 level here Now based on this in here, this is this is where You know, I personally I like the The structure or for for a pullback trade or entry This is where I like it. Okay, I would I would be looking to get involved in here Okay in in this little area in here They're probably around 81 and three or 80 and three quarters somewhere around here You know getting filled Based on the movement here The red dots the sellers hitting the bid and this low volume pullback on the buy side It's just not as many buyers in here Right, so I'm looking for them to trade at least back down to the bottom of the range here And then I'm still looking for more sellers here To drive it lower into our 77 and 76 levels So this is a higher probability pullback trade here in my mind Because I still know that sellers are in control They dropped it by from this range here So likely and I know also too that that we're still in this uptrend is still holding Okay, but I'm looking for the sellers to try to drop it Hey, would I be out half a position? Probably probably half down here At the swing stopped a breakeven yet again Okay, and Still in it or not likely stopped out At breakeven Yeah, would have been stopped out of breakeven And I'm fine with that Oh, good morning, James You miss how I do this. You know the sellers are in control. Yeah, okay Well, now you're starting to see buyers trying to test that But it's about the volume here And it's about the specific time frames as well So like let's cover let's cover this one here. It's a little bit easier Sellers came in and dropped the area of consolidation Sellers come in and drop it hard and into the bottom of the swing here This is where sellers dropped it Okay, these these are you know in your auction market theory. It's kind of like You know, it's called your impulsive move and They're they're dropping it down. Well, they're trying to They're dropping it down the bottom of the range here But I'm reading the impulsive move here that they're driving it away from this little area of consolidation here And they are in control Right now we don't find enough buyers to trade back up into the range here So I'm looking for sellers to try to you know still be in control here Right because we didn't find enough buyers in here Now this is where it gets a little more convoluted is now we're starting to find buyers in here Okay, the same happened over here Sellers took control and dropped it Okay, this is a low volume pullback here Even this in here is still low volume pullback Okay, look at look at the dots look at the bars Okay, and then we see sellers sellers should be able to take it back down at least to here where the buyers came in And they should be able to have there should be more selling down here and try to drop it lower That that did not unfold not enough sellers here So we rotate back up and look where the buyers came in See where the sellers dropped it and where the buyers came in So we'd be looking for them to try to move it higher here So this is more this is more complex. They're trying to do the same thing here. Okay right in here Okay, now this one's gonna fail now. We're looking for sellers to drop it into 77 Okay, and we got buyers on the wrong side here as well. So we should see a stop run to the downside as well They maybe maybe get down to 70 74 Or 75 Still looking for lower here Stop run very nice Make make sense. Um, james Uh, alexander you like it looks like a bear flag. I see a 1050 I'm not sure what you're looking at Okay, okay, great james. Thank you um Yeah, I mean it's really important to to to notice those areas here And and and when they're going to start to try to drive it away here Now this is kind of structure within structure. So it like I said, these are and we're going to go through many many examples That's our goal here So that here's our move guys down into well, we got our move into 76. Um, I'm still I'm still looking for them to move it lower. I know that we've got our our line here That's why we're seeing a kind of a some buying off of it here But I would love to see it go lower here um And this is why this is more like, you know, it's structure within structure here, right? So You know, they retested all the way back up here couldn't even even here Again buying but but selling below it here. We're looking for them to drop it And now we're right back up into this little You know kind of structure again right right in here, right? So if buyers buyers might be able to lift it back up into Previous area here. I don't see them right now. So I'm I'm still looking for sellers to hit it down into 75 and 74 here Okay lack of buying up here. That's not what I want to see If I'm if I'm thinking it's going to go back up into this structure Okay, so So far so good Now do the sellers show up here? Not yet Okay Anyway, James, let me go through this um, let me and there's a few other questions in here. Um, but I want to go through and just Point out these areas for James. I think he'll find it very helpful Okay So to make this point because it's so essential to understand this within structure you're looking for, you know, who's taking control Okay, so over here. We're looking for sellers to take control. They didn't right? So now buyers can lift it back up into the other side of this range here at 81 and a half Okay, or maybe just to 80 right now point of control or you know, this little area here Right. Anyway, uh, James, let's take a look at on on various timeframes here Okay sellers see the seller. Oops. Sorry See the sellers in here Look at the volume here as well Okay, see how they dropped it If they're in control from that time frame now they're being tested though Right and buyers are going to try to hit control and they're going to try to get to the other side of the range here And up end all of these guys here and it'll be a stop run All right here. Here's another area here sellers What about here? Look at the buyers Okay, what about here look at the sellers Okay, now this one's kind of interesting because like yeah a lot heavy selling in here looks pretty good They're all upended here. These these turn into those pivot points that we talk about Buyers came came back up above. We should see a stop run to the upside. We do Back up into kind of our 85 ish level here 84 and three quarters And now let's look on the higher time frame and zoom out a little bit more Here's where we this is why we thought the structure was started We started to see a little bit of a shift in the structure early on we saw it over here We're looking for this move back up into First 75 and then maybe 80 on this pull back here Okay, we got that Uh, and then we we noted that wow, okay buyers were in here more buyers are in here Uh, they they broke a little structure here right here a little swing on some pretty big buying here again buyers, right? Okay, sellers come in try to drive it lower here Okay, but now now we see buyers back up here. Great. All right. We're looking for them We we noticed them in here We're looking for them to trade it up into the 75 and then and then back to maybe 78 and 80 And that unfolded nicely All right, so now we're starting to note where the buyers are coming in see Here's a nice one here. See look at the buying coming in here Hey, look at the pullback to it Hey, again, this is a low volume pullback All the way back down here too, but we don't see a lot of sellers in it. It's mostly the buying in here Okay, so You know, it's up to you like, you know, I I don't feel too comfortable. I've been upended so many times About buying these pullbacks here Even though I know buyers took control in this little time frame here Okay, uh, you know, you're there's your your entry on the pullback and then you'd you'd hold it for, you know Some of these higher areas Okay, I likely would have been involved in it up here somewhere All right, and I wouldn't have gotten a much as much out of it Um, but anyway, I'm just looking for something that is higher probability. Now. Here's where here's the big selling in here And and you know, it's sold off pretty hard the whole way Uh, they're kind of upended here. They tried, you know, tried to get buyers did get above here Uh, they got back up into this little structural area here It is little, uh, kind of back and forth right in here Okay, here's again more selling taking taking control here Okay, driving it away Just think of it this way, uh, james. I think this will be very helpful Um, when you have a consolidation period Then And a value area within a consolidation period What has to happen in order for it to you know be re-evaluated into another Consolidation period or another value area Okay, something has to happen a lot of times it's fundamentals other times it's Traders getting upended or it's uh, people who know something they see some sort of edge Maybe some sort of statistical arbitrage trading Okay, some sort of study technically Um, you know, maybe it's above point of control or whatever it might be and you see like the big volume come in Well, when you start to see that big volume um They are Trying to move it away from that that value area It's it's like a it's like gravity like a rocket. It's trying to move it away. It needs a lot of power Okay, and that's why we're looking for a big volume Uh to to lift it away from those areas and and and you can see it in here Right, you can see it in all these little areas here that I pointed out Okay, so, you know, now we're looking for context though Okay between that that kind of control taking from the buyers or sellers Uh, and then also the structure Okay, so the structure is essential to understand first All right, and then uh, and then the volume within it. Okay, and volume is only a part of it It's also context of the supply and demand in the order book has we want to also read that like We didn't get duped in some of these trades in here or some of these things Because like yeah, you know, we give it the nod to the buy side, but I don't like that, you know, it I don't see them bidding up. I don't see them supporting it So understanding that context of the order book is also essential So it's just these three elements volume supply and demand and structure So look at the sellers come in now. They're going to try to drive it right back down They're going to try to break this trend line drive it back down to 76 Okay, looking pretty good They are dropping the offer a little bit here. It's not nothing, you know earth shattering here But uh, they pulled here so they can trade back down into maybe even 74 not not just 76 Okay, again, you would be a low volume pullback here Okay, this is where the sellers came in there's even more selling in here. Here's your sellers Here's your low volume pullback Now do we get more sellers here? For now we're looking for follow-through of this selling selling here leg one pullback leg two Back down into 70 now. We're going to call it 76 Okay, how what are we going to look for? We're going for sellers here And we're going to look for them on the offer here and we're getting it Okay, not a whole lot on offer a little bit in here Okay in here and what the reaction to did you note the the reaction to that liquidity here? Sellers so anyway that context is what we're talking about here Okay, so we we got we got the sellers down to 77. They didn't come down to 76 Now trade management is a whole other ballgame in here Right, so that that's up to you I'm not sure what you mean by your comment though. I only refer to book map for traders Can you articulate that a little bit more? And let me go through a few other comments here Alexander yeah bear flag is an interesting one. It's kind of like this in here like You know kind of impulsive move pullback and then we want to see continuation But a flag pattern is very very We're looking for big big move on big volume and then then the bear flag like, you know, maybe it So it would be kind of like this it depends Um, but uh, you know here We want to see big move big volume And then just like maybe it just kind of chops And you get a kind of a shallow pullback here because there's not a lot of buying And then we're looking for continuation here with another big round of selling Oh, do I okay? I understand James. Do I only use book map for my trading? Um, got you. Um Okay, that's what you meant. Okay, uh Alexander. Yeah spot on that. That's what uh, I just want to cover that Understanding and and also extrapolate understanding the patterns that we read about for years Okay, but who cares about the patterns we care about the order flow within it. That's what gives us the higher probability So this is a really complex like bear flag in in essence Right if we get our sellers here, we're going to get our completion It kind of turned into maybe more like a drop consolidation and then drop here and looking for it right here right now Sellers they should be able to drop it 74 75 Okay, does is the offer what's the reaction to this liquidity again? Do we find sellers? Where is the where's the target here would be yeah this liquidity down here on the bid? uh so, uh I hope that answers. Yeah, I wanted to answer your question. Um, Alexander On that understanding these patterns too because I like the the patterns. I mean you see them repeat again and again um, and there's a reason for them uh repeating And it's due to the the Auction between what buyers and sellers think of the instrument. We should get a nice move here guys. Let's see it here 76 down to 74. There we go 75 Let's see it continue here. Where where might it also go? Yeah, I mean I like this area down here Uh 73 this is where we noted these buyers here We marked them up look at the buyers here Okay, so let's see if let's see them test it Sellers test those buyers from this previous uh, uh period here Okay, looks looks pretty good. I like it Okay, so and now our bear our bear This is not what we want to see in terms of our bear pattern or our bear flag pattern here See we got sellers here look on this leg here No no sellers now if we get them here We should get the continuation So, you know, you wouldn't be duped by that here uh, all right Doug you're glad I'm looking at the es again um Yeah, yeah, I I'll update the uh, you know what Doug? I think I'm going to include this webinar on uh on youtube Uh, it's good to kind of go back here and we're getting really nice follow through On the s and p which usually we don't it it rotates so much These um These moves have have followed through pretty pretty nicely Due to the order flow just due to the reading of the order flow Um, all right, so let's see here The uh All right, so that covers the patterns um and or understand if you're a pattern trader Okay, you can look for very high probability of those patterns working out You can even look at candlestick patterns It it doesn't matter, but just understand the order flow within it. That's what we want to understand Here's our move guys. Um, so We said 73 we're there Yeah, it's going to get interesting down here And we also note in the bigger picture here Really really strong move. We were looking for the buyers to come back in now. We're looking for sellers again Move it back down lower, right? This could be this could be oh, this is what you're talking about Um, alexander. I'm sorry. Um, now I'm getting it. Yeah, this is you turning into your big bear flag Right Move pull back move Okay, so just looking for the move to the swing low now Okay, look at the selling here See the look at how look at how big that is they're going to continue And it's going to continue to drop into these lower levels here Yeah, it took me a while to pick up on that alexander I'm sorry um Yeah The uh, there was another question in here. I got through james's question. Um, oh higher time frame stuff Actually, I wanted to answer this on the um for for james the um This is just beautiful guys been been a really nice day here. Um the Well, you know, you can read the higher time frames here. Um the same way Uh Basically what I will do In in my trading if I'm looking at higher time frames, I'm looking here at rhythmic and um I'm using the same concepts same ideas no different And uh, I'm just looking at consolidation moving it away Consolidations moving it away, etc Uh, now, you know, you're looking at very incomplete data here uh, because Uh, you you can see the price movements and you can see the wicks with the buying and selling Uh, which is insightful very insightful. Uh, however, you don't see the volume Uh within that area, which is you know, makes all the difference in the world And you don't see the supply and the demand What if there's just massive orders up here which there were in the s and p at 4700 Okay, and here it is right here Right, this is where you get the context So if you you know, this is the way I look at it on the higher time frames Uh, I keep it very simple. Um, you know, I know a lot of a lot of people are looking at volume profiles They love the you know the the profiles and the and the market profiles, etc. Yeah, it's good. I I like it The um But you know, you don't you can use any kind of strategy here It's just understanding order flow here even on these higher time frames. You can start to piece together some of the order flow Okay, you can look at structure higher highs higher lows and then uh, look at the look at the speed of some of these moves in the candlesticks Okay, now this is a volume chart here. So it's a 9000 contract volume chart Each bar is 9000 contracts for the for the uh, nasdaq e-mini Okay, now look at the structure though Can you see the structure? Look at look at the swing here. Look at the retest back up to it here today And the drop down to where back down to where they're buying here in the wicks All right, so understanding structure again Same concepts here. It's just very Kind of basic here In the candlestick charts, that's what I look at james and then I look at book map here to confirm it God, this is a mess. All right. Let me uh, let me clean this off There we go All right. All right guys. Well, let's wrap it up. We'll call it a day here Uh, good good session everybody. Uh, some great questions as well. Thank you Uh, I'll post this on youtube. I think later So you guys have reference to it and some good follow through in the s and p which we don't always get Which is nice. So, uh, yeah, thanks for coming everybody And uh, maybe I'll post in in discord trying to use discord more and more James I saw your your post to me. I will respond to you as well as alan But yeah, we're we really want to ramp up our our discord We just think it is such a great way to reach a lot of traders In that community and provide a lot of value because discord set up that way Not just with chat, but with video with with voice, etc We're really looking forward to it. I'm really excited about it. Uh, so Anyway, we're ramping all of that up and You know, it should be uh, it should be You know should work out really well for us in the future here. Okay providing, uh, you know, some really nice education for you guys All right. Thanks for coming. Take care. We'll catch up with you next time. Bye. Bye