 All right, good morning traders and welcome to the bookmap advanced education. This is the the live trading webinar We do a live analysis here Monday Tuesday Friday 10 a.m And then we have live trading with J trader on stocks trader on Wednesday and scoppelsenia futures trader on Thursday Let's get into the risk disclosures and we'll jump right in general disclosure all bookmap limited materials information and presentations are for educational purposes only and and should not be considered specific investment advice nor record recommendations risk disclosure trading futures equities and digital currencies Involves the stance of risk of loss and it's not suitable for all investors past performance is not necessarily indicative of future results All right, so let's jump in here and take a look and see what's going on in bookmap and Let me know if you have any questions you should be able to see my screen now and You can ask questions in the hashtag advanced webinar channel there and Make sure that everything is okay and up and running here if you have any questions about anything in here. All right, so a Lot of different things to kind of cover We can take a look at the higher time frame to good morning Alan a good morning Alec You want to look at the stops and icebergs? Sure. Sure. We can go with that over that Let's go over there. Just kind of a higher time frame and kind of what's happening in the Current market and then we'll we'll look at some of the stops and icebergs All right, if you don't mind But thanks for asking Alec definitely wouldn't we can go over that I want to show you guys a few different things in here to begin with On our YouTube channel. We went through, you know yesterday's let me just show that here Our yesterday's on Fridays Okay, I want to show you where the recordings are if you have any questions or you know You want to review it here? Go to live streaming on our YouTube channel here and here's the recording here You'll always see it on the left-hand side when it updates. Today's will be up here as well There's another one though. I want to show you and that is from Carmine a futures trader and let me show you that in here. I He posted a great video. I think you guys have get quite a bit out of it if you take a look in here Okay, where is it? Yeah, right here. Okay, so watch this video in here this is You know, it's excellent. He talks about absorption and being able to see it And he's not even looking at the absorption indicator nor the iceberg Indicator here. We're gonna I'm gonna cover that with him pretty soon so that he can Start to add these into his tools and arsenal Anyway, you know, he goes over and you'll see from the video here really important level Because of the order flow. That's what I want to cover in here. He's looking at this 4505 and the S&P This level here and we're gonna look at that again here as well Look where we have come back up into this 4505 just now and we can't trade through it Right at the moment. This is if you want to talk about support becoming resistance. This is how it happens And you know, he was looking at from February 3rd the the price action So, you know four days ago, he's looking at the price action and he's looking at a major player Absorbing as much as they can get on at 4505. So Now you can see there's this is, you know, a lot of the quiddities up here around 450510 We're just kind of bouncing off this 4505 area right now And and we've gotten a little bit above it, but we've retraced back into it Now it looks like we got some buyers interested here Looks like you're gonna go for it this 450510 Looking for him to trade up into 450510 maybe up into 450515 We got some some some nice momentum here on the buy side nice buy clusters up here as well Let's see if the buyers can do it. They we got to see buyers up here at 07 and a half They we just we just got a retest up here. This is not the kind of buy and we're looking for Okay, we're looking for a lot more than that for this to break out We look for the aggressors here, okay to be able to pull this market higher and trade into this liquidity now Hopefully, you know from our webinar on Friday. We're looking for maybe some more Demand here in the order book. We're starting to see it at 4500. Okay, see them coming in here It's kind of blue-ish area And we're looking for them to kind of, you know, show more demand in here And then the reaction to that demand is we want to see buyers So it looks like they're gonna do it here. Let's see if we get buyers now We got a little bit of demand in here looking for buyers to trade up into this liquidity here. All right So just by this demand in here what we're kind of seeing in here is it's it's very light But you can see it see how the reaction to it was buyers. Okay now It's not enough buyers at the moment Okay, we can look at that we're looking for big green dots to pull this market higher now See see how this 4505 came in right now and see how they're showing more supply at a lower level and we found sellers So we're kind of in a back-and-forth environment at the moment All right, we're kind of looking we're looking to see now see see they're pulling in these areas here So this is going to be kind of an important area to see if we can break out from or not And we look at what the order book What the order book does and what's the behavior of the participants the aggressors? Okay, so anyway Let's take a step back here and look at our higher time frame that we had marked up here And we're gonna look at the daily the hourly and the 15 minute chart here And then start to look for levels in here From a higher time frame and then we're going to take a look at book map to get some insight in the order flow At some of these levels. Okay now these these were three levels that we had kind of marked up last week We were looking for This was on Monday last Monday. We're looking for the move back up into some of these areas in here And we got it. In fact, they came up even higher, but they came up to look at this cluster up here Okay, and we didn't get really above it We that's where we found the sellers. We finally found the sellers We were looking for them around here around this kind of 62 area Went up a little bit higher and then boy did we find them right and they took it right back down now Look where they took it back down. Look at this Structure here in the market. This is just understanding market structure is so essential Then we look at the levels in here and the order flow around those levels Right, so this is the top of the structure from all of this activity a week ago and A couple weeks ago and you can see that we bounced off of it so far and we're back up into the range up here All right, and then here's here's today Monday and In the hourly chart and we're just kind of right in the middle of the range in here So we're not really seeing much at the moment And if we take a look at the 15 minute chart, you can see the The move down the move back up. Look where it retested back up here. Okay, this 40 45 33 Sold back down. Look where it retested down here and closed On on the third. Okay, so you can see the move back down into This area here where it broke out from and we're just kind of going back and forth in here right now So we don't really see too much of a direction at the moment on these time frames even on the daily We're kind of right in smack dab in the middle here. Okay, so we're looking for direction We're looking to see if if more aggressive buyers come in If we get a skew in the order book to maybe move price up into these previous levels All right, that's the first scenario We're going to look at and then we're going to look at the opposite of that see the wicks down here on the 15 minute chart and see how they kind of retested the close down here But not all the way back down if we start to see Sellers come in up at these areas and we'd be looking for first off and move back into the middle and then lower end of the range here and This swing here around 82 and then maybe we can even break that and trade back down lower Okay, so anyway We want to look at some of these higher time frame scenarios Then we're going to look at the order flow. All right, so and that 45 0 5 just watch You'll see what I mean when you watch that that video from from Carmine I think you you guys will like it and get quite a bit out of it Okay, so anyway, that's that and let's continue on here And let me see if you guys have any questions in here Okay, now, you know, we showed on Friday in in the in this webinar here the You know going through order book and balances and starting to understand that now, you know Boy, you can have quite there. You there you go. Thank you Alec for that Bad ass supply and demand course. Yeah, exactly exactly. No, he did a really really good job It's really great. All right, so take a look at that That video as well so All right, so let's let's zoom in here and get a get a feel for what's going on All right, so Point of control here is this yellow line Okay, and you can see that the sellers are below it now and decisively Okay, right back down below now, you know on Friday. We went through this exercise because it's a very tricky market It's been You know One side of the range try to get people to commit go to the other side of the range get people to try to commit over there Come back in the middle. I mean, it's just it was really kind of kind of treacherous Kind of mid week to end of week last week so But we can get some insight from that Right, we're gonna look read the order flow in here and we look for these in balances in here And we look for the reaction of the buyers and sellers and and to see when they might Someone might be upside down Looking at stops and icebergs in here as well. So here's our move lower. Okay looking for this 4040 490 to transact right now and Looking for these sellers to hit into that Let's see if we get a little bit of a push here looking for the order book here to give us some help nothing yet okay, and yeah the Getting a pullback here. Okay to where this structure kind of broke here Okay, now we got the little pullback here didn't come quite all the way up And we already see the sellers already down at 49 44 91 Okay, a little bit of supply. All right sellers should be able to hit it into 44 90 And then let's see you I want to see them trade through it and get back down to maybe lows of the day here 44 85 okay 44 80 right starting to move the market here Back down to the bottom of the range. Let's see if the sellers can continue to press this Okay, so that's that will be scenario one actually right now. Here's more supply up here What's the reaction to this supply? We should we should find some sellers here. No We found a bit of buying Okay sellers here we go. There we go 90. Okay now Some icebergs starting to transact down here. Okay, NQ is also going down. Thank you Alan Yeah, okay, here's our new imbalance here in the order book looking for sellers to hit down into this 88 level This is gonna be kind of critical level here this 90 To break Okay, seems that sellers are interested. So let's see them take this 90 on more supply up here and Sellers should let's see him hit it here and hit into 88 87 88 level here There's still sellers in here. They're still holding this bottom structure as well 92 to 93 in here Still holding it. Okay, we're in between these two areas of supply and demand right here And we're looking for some insight here. We're still holding the structure and now they're trying to break it Okay, but we're just retesting back up to here. Okay outside of the structure if we come right back in All right, let's see if we can get let's see if we can get a little bit of more imbalance in here on supply side And let's see this here. They may be pull here at 90 now. They're doing the opposite. They're pulling here on on the On the supply side. I'm not buying it here. This is just looks like false advertising to me We're still in a downtrend Sellers are moving it here is what it looks like to me We've just retested this structure here around 95 ish. That's it Here's our sellers. All right sellers. There's our there's our skew All right, we should be able to find the sellers. They should be able to hit 90 and trade through it into our 88 level here Okay, looking for that scenario here Okay, we want to watch and understand the behavior of these sellers and in the supply and demand in here Buyers keep on buying here, but we're down lower here So all the sellers have to do if you get a little bit of skew in the book here You should be able to hit it right into this area here And there we go. There's our skew in the order book. Let's see the reaction. We should get our sellers There we go 90 More more skew look at the lower skew here. Okay lower supply Or supply and being lowered to lower price level. Look at how fickle this guy is though Hey, he's playing games back and forth in here. There's our 90 though 90 is transacted Okay, looking for more sellers here still And we have quite a we've got some icebergs in here though Now still I'm still looking for sellers in here We got a nice edge down here a weak bottom the quity at 4480. Yep Yep 540 contracts down there. Thanks Doug still bouncing around in here. All right. Well Anyway, we're still bouncing around in this level here. It's not being so so Straightforward with us here Okay, more sellers, but I want to see this supply come down lower here and push it through I want to see them pull on At 90 and then maybe 88. Maybe we get down to Doug's level down here at 80 Here we go. Let's see if we get our sellers here. There they go there. We get our sellers here Okay, now we got to get the follow-through here a lot of buy icebergs careful here Careful here. This is where the cell volume is down here, right? What if we get by volume on the other side that this is a secondary scenario here by volume on the other side They'll still go right back to the point of control here at 4500 And we can still be in a downtrend here. This is where the sellers came in took control Chicken and egg good question Yeah, it looks like or it looks like we got our mean reversion guys coming in just play it right back to 4500 here Anyway guys we covered this the other day as well like we have our sellers down here Hey, well the scenario is what if we get our buyers up here? And then these sellers are on the hook here, right? And then we look for these guys to trade it right back to value previous value areas now Even if we come back here, this is where the sellers took control All right, this is essential to understand Here this is our our area here and that we're looking at and so far sellers are below that area So we can get we can still get a move back to 4500 And then a continuation of the trend Let's see 92 is a spot gamma level. Okay All right. So Doug. Thank you. So you got you got spot gamma level as well as we got icebergs buying in here Okay, and let's Alec wanted to go over icebergs. So we'll go over that so here They're coming back to 4500 here. Okay, they can go a little bit higher still kind of this o2 area here And and sellers can still be in control up here Okay, let's see if we get the if the sellers come in here And take it down below it start to look at some some lines just to put some structure on here You want to know if we have a minimum setting like C stops above 20 orders. Yeah, sure absolutely Alec. No problem Yeah, let me show you that Okay, so let's see if these sellers can do this now We got some exhaustion up here like the you know, we we have the the possibility for these sellers to come right back in now No o2 And order books not helping us out too much. I mean we have we have the supply up here at 0405 Okay, but it's pretty dark in this little area here. So buyers can rip it right up into this area pretty quickly And we do have like it's just kind of blue blue down here So there is some some demand down here, but we're looking for them to start to pull And we want to see more supply come in here And we we've got to see the pull the sellers come in and move it away here Right initiated selling initiate the move back down to our 90 level You can see the reaction to that liquidity in here. So we're going to go back up to 0405 here Um Let's zoom out. Let's get our bigger picture All right, so let me show I we're kind of waiting for this Let's show those stops and icebergs here the on chart. Uh, that's what I want to I'm going to show here Alec the um Show icebergs. All right, let's go through it. Uh, now you can use this automatic threshold here And um If you have that box checked here See how I can't put in the threshold any longer. It says 49, but it's kind of grayed out Okay, so what that is doing is calculating here 49 of um You know, it's within a 60 minute period and the standard standard deviation multiplier of 1.1 All right, now you can play around with this if I bring it up to 2.5. You can see now it's 96 So I'm only going to show me our filter for me 96 now. You don't want that you can just Deselect it you can put in 20 here. Okay, so you're looking for icebergs of 20 or more. That's it Okay, we zoom in here. You'll see that Here here's one that's live in the market still and 66 have transacted so far Okay, there's a trade through it now that that that got filled here and it was for 88 total So that one for 66 right here Totally filled it executed e means execution Okay, and for 82 Alec does this answer your question That that filtering there. All right. Let's just zoom out here yeah, I mean the Programmers did such a nice job on this indicator uh, the um You can see all of this unwind here. Uh, this whole iceberg order Um, okay, oh that answered your question. Excellent. All right Well, let me just go through it here in a little more detail for you guys. So, um, if we zoom in here See that the t means transaction here. Okay, or trade Uh, and um, if we zoom in here and we continue to zoom in here You'll see more and more like it's aggregating them because there's so many Uh, so we have 29 traded here five traded on this one here. That was an iceberg three traded here That was still the same iceberg the same iceberg you can you can reference it down here in the subchart And I have the setting here on the subchart. Let me show you Okay, I have my setting here for some All right. So what that's going to do is it's going to show you Um, you know by minus cell here. So this is where that iceberg in these 29 initially kicked off All right. So now it's it's not actually quite true because it still has trade here I want to zoom in and I want to show you what happens here. See the d here. That's when it was detected All right, so and it's it's actually going to be this transaction over here Uh, when it was detected Okay, so we're down at a microsecond level here. So it's not like, you know, many minutes passed by like You know, it's just we're talking millions of seconds here Okay, maybe it was, uh, you know, two, uh Well, a milliseconds and maybe around I don't know 200 or so or God, we can we can get that answer. Um, here's 300 micro here's Yeah, so 300, uh Microseconds, all right, so three milliseconds or If I get to my math, I'll screw it up. Anyway, 300 microseconds. That's for sure I want to show you this though Be because we know this is it detected it here All right, uh, and then it placed the transact or it it placed the detection here Okay, and you can see how that lines up with our iceberg detector. What I want to show is this Okay Is not we we don't know that this is an iceberg yet until the second transaction takes place You'll see this once the second transaction takes place Then this will populate over here And it will show what it was because now we have the id order. We know what happened in here And that now we can we can show when it was detected and we can show each individual Transaction afterwards. Okay, so you can see this kicking off here This iceberg and it's it's transacting And they're they're on the offer here the green dots here are the aggressors They're the ones trading into the iceberg. So this iceberg is short up here Okay, so Transaction for two in parentheses transaction for one transaction for one. Here's another one for two Okay, and it's just sitting there still in the order book that blue line. It's still in the order book getting filled Okay, all the way through here now You'll see even if they move it up or if they cancel it or whatever So as we continue to watch this iceberg and let's just zoom out So now we see how we aggregated it. There's so many transactions that happen very very quickly I mean now we're only looking at five seconds between each vertical dotted line We know that 66 transacted up there And it's still in the order book. We saw that in real time And then we saw it starting to transact and then what happened 82 Right, it started to transact into it right here and it was it was fully executed That's what the e stands for executed Right, and it doesn't have a parentheses anymore. We know this is the full amount here 82 That was the size of that iceberg You might see a c here and then the the number Okay, if you see cancellation and let's say it was eight. Let's say it was cancellation in 82 what we know at that point Is that the order was cancelled and 82 only 82 of the Iceberg were filled 82 contracts. That's it. We don't know what the size was. We don't know if it's 100 We don't know if it's a thousand, but we do know the transactions So what you're looking at here is the transactions of the icebergs. All right So I haven't gone over that in a while. I wanted to cover that for you guys And we haven't really missed anything here. We've been just kind of bouncing off this 05 level And right back to point of control again here Okay, uh most most traded level you can see how that acts like a magnet here Now we're looking to try to get some insight here of who might be uh This is a little too much for me on the icebergs Okay, so here come our buyers. All right. So here come our buyers. They're going to trade it up to 10 And um and try to go to highs of the day here Okay, looks pretty good. We have a stop run here now Again, you know, it's been a pretty treacherous environment here last Several days. So let's look for the scenario. We have a big stop run here. This we've seen so many times now Uh big stop run up through an area Sellers come back in and trade it back into the range Okay, now what we want to look for is after a stop run occurs now. We know it's a big stop run Okay, we can see it And we have the reference to it as well Okay, so it's uh, let's see was 160 here and this is negative force. So this is negative 500. So it's like 600 here Uh stops being triggered. Okay now just because a stop is triggered doesn't mean Uh that that price is going to reverse Okay, there might be it might accept above this level Okay What we want to understand is after the stops occurred This is the event the stop run has occurred now. We know that that is fact All right now we look to see if are we going to accept above this area here Or are we going to reject and come back down into the range here? All right, so that's what we're looking for in here. Here's here's an iceberg that was canceled. Here's another one canceled And we have this one here for 645 still in the order book here Okay, actually, um only two were only two transacted though. So this this guy, um Let's let's just take we can take a look at that one, but uh, yeah Anyway, sometimes you see a slash under, you know, like here canceled and then three Well, there was three separate icebergs in there. Okay at that at that price level Anyway, guys, it's on the knowledge base. You can take a look Oh excellent. Okay, so uh That that helps you there Kobe on the on the icebergs. Yeah Yeah, there's a lot more. There's I mean Really, it's quite detailed. It's amazing to see the detail in here even this like if we look at the execution here Um, I mean look at how convoluted this is in fact There's a lot going on in here. We got multiple icebergs in some of these levels in here All right, so anyway stops We can also show the stops on the on the screen here Uh, we have them in the sub chart as well. They should match up perfectly. So, um Let's see here. How do you add the transaction symbol to the icebergs? Oh, okay, let me show you that All right, so, you know, maybe maybe we'll just go over stops and icebergs this uh, you know, kind of focus The main focus here, uh in in this webinar since we're off to a pretty good start. Um Okay, so let's go to Stop some icebergs on chart. Okay, and then we're going to go to the settings in here All right, so we have it for 20 as the minimum threshold. You can use this automated Our automatic individual threshold here if you like Uh, you know, it'll filter out a lot now when you start to filter out a lot You're going to note. There's going to be some distinctions or discrepancies between on chart and sub chart Because some were filtered out Right, I can see it already. I think no Oh, yeah, maybe in here. There's a little blip in here Uh, let's just zoom in there Boy, it's not much But there's a little blip in here, right a couple Hey, they're not on on the chart here. Okay, the software is working just fine Uh, it's just that we haven't um, we filtered out for it Okay, so you can even see it's like like 10 or something in here So it didn't make the threshold of 20. Okay at that point or it didn't make the threshold. I think we just changed it No, it's still at 20. Right. So we see two for about 10 each. It looks like something like that Right now the the automatic automatic threshold here. I like this feature very much Uh, it is based on time Okay, and then it's kind of an let's just make it simple here because we we put in standard deviation But we're going to make it really simple here to begin with um, just think of the um time interval and an average All right, so uh, and you have a multiplier here So you can make that average multiplier like two and a half or one or, you know, slide it here And then you look, you know, that you'll see the the grayed out number here in the threshold You'll bump bump up or if you bring it down it goes down All right, so you can control that in here very nicely. Now the way that this is very intelligently done I think the way that they they did this um, is that Uh, it's based on standard deviation instead of um, the moving average, right? So, uh, you know the the the deviation of It's basically the deviation of the average, right? So if you have it down at zero, you're just looking at the average Okay, now you can bump that up with the standard deviation multiplier. That's how it works Okay, this is a really really nice feature here. So you don't always have to be zooming in and out Right, you can look you can look at a Um, a one that kind of fits the way that you trade Uh on your time frame Okay, so uh, anyway You need to need to cover some of those details in here because you will see discrepancies between on chart and sub chart It's because we're filtering All right The the data here is is very exact Okay, uh, let's see any other questions How do you add the transactor symbol? Oh, I'm sorry. Yeah, I didn't even get to your question. All right. Let me show you that Um, it's down here. All right, you'll you'll see the icons in here. Here's here's the you know, transact or execute or whatever Um, here's where you can um display them Right, so you'll you'll see it Uh, show the event type See if you deselect that you won't you won't be seeing the the the letter here any longer All right Aggregate or cancel that that one as well. You can uh, you can deselect in here show aggregate e and c Well, that's actually that's actually something different um Show detection icons if you don't want to see that Show execution icons see how we we can uh See how we just deselected it and now you're only going to see the the transactions Or cancellations now. So here we go We see transactions and this one's still in the order book here. Okay, we know that as fact Right, it's still active and here the other one is cancellation here So if you want to look at that Or if you want to look at uh executions Okay, show cancellation or you know deselect cancellations. You can also do that. There's a lot of different settings in here Uh, probably instead of going over this in detail Uh, let's uh, let me show you on the knowledge base where it is guys. Here we go So here's our rejection back to the back to the mean here Um, or back to the most traded level and we still have sellers in here Okay, so this was uh, actually the the the scenario we're kind of looking for uh, it took a while here Uh to unfold. Usually you see quick rejection and then a quick move back Okay here it accepted And then it's pulling down here. So now looking for these guys to trade it back down to This iceberg and this liquidity here at 44 90. Okay back down to our 44 90 level here Again pretty pretty wicked stuff in here nice trap above this area here Uh, and uh, let's looking for stop runs. We already have one here back to point of control Back to point of control Okay, looking to see if they can press it further. We have high liquidity in here at 4400 or 4500 Okay, and I want to see them stay And I want to see More sellers come back in around here 97 And we're not going to get that clarity. Okay, they're back to 4500 Not only is it the figure is the the point of control Okay, nice stop run here Again stop run so we can we can move buyers can try to move it right back outside again too back up to here Okay, let's see if they go for that in that scenario here Or are we going to get our sellers again? Okay, let's look at the order book and we'll look at the volume here Okay, we got some supply up here iceberg coming in Let me show you in the knowledge base here guys go to help And go to the user guide Okay, that'll take you to the knowledge base Uh, and then here, uh, you're in the user guide section right now We need to go to the add-on section because the the stops and icebergs is an add-on It's not the core book map, uh, that you're looking at so go to add-ons And then in here you'll see stops, uh, and icebergs, uh, sub chart and then right below it is on chart All right, so alex read through this in here. I goes through it in detail Okay, here detection trade execution cancellation what we just covered All right, that'll be really helpful. I'll put this into the uh into the chat for you There you go Um, it's counting. Okay, this stops and icebergs it it it's counting the um transactions Okay, the transaction has to occur. We don't know if it's a stop or an iceberg beforehand Boy, I have not gotten a really clean read on anything today. Um I mean once they started to move it, you know, we're looking for some of these these areas to trade But those you know, it wasn't We're just looking forward to kind of momentum to carry it on up into those areas We're looking for like a bigger move here to unfold And trying to read the order book in here for uh, where this might go I mean, we did we did cover this in here, uh, that You know, this was this was something that we covered in the webinar last week They're selling into selling into selling into i'm still looking for sellers All right, but the other scenario is once we you know, this is kind of All of the major selling's down here This is where they moved it here And we want to see a lot of selling in this area here That's the initial move away from value here that moves it and they take control of that market But we get big selling down here and they can't move it lower That's when we get buyers can come back in and you get our mean reversion traders and they come roaring back in You know typically Uh and and trade it right back up to these back up to the point of control or or where it dropped from here and And then if they can do that they can even try to try to get it to the other side of the range Which is what they did they you can see that that traded up above here where it dropped from And we see more buyers up here now even up here. It's still pretty tricky I mean, we're above it and we're above it on buying we get a pull back to 4500 We see some selling in here, but it's in not until in here Do we get more clarity that the buyers are going to try to move it up to 10? All right, so not not a you know, not a whole whole lot or a real clean read in that Um For that move back up into this this area here Sellers could have taken it here Right We're looking for that exhaustion in here and sellers to hit it and try to try to take it right back down On to these these lower lows here Okay, and real real real kind of Just unclear right now Not getting much from it. Uh, what is the white line svp? Yeah, this is the vwap here So let me show you that just right click in here go to configure and uh The um show the vwap line Okay, is that is that right there? All right Now that's different than showing the vwap on chart, which is really really nice feature. So just go Up here you you can you can click on it up here If it's not selected and select it here, um, or you can go also to the studies and configuration here And then select it here as well Okay, and then change the color you can have it. I have it reset here at the session time Okay at 9 30, uh, and it should reset so My mind might be different than yours because I I reset it. I've had data already since 9 30 And I have it reset at 9 30 to zero Okay, so point of control and and vwap are right in the middle here So these are this is our our kind of average level and we've been we've been kind of bashing around on each side of that average level And trading right back into the middle of it So we're looking for like sellers to try to pull it away or buyers to try to pull it away And you look at our distribution here right It's a single distribution. Here's a little bit of a bump out here But uh, we we've got it, you know, we're right in the middle here Anyway guys like, you know typically like Typically we look for the the trending move Uh, and it that's a lot easier Uh, you know like last week and and today as well, uh, you can see that it's not as easy The trending move we're looking forward to unfold here because we had been bouncing around back in here and we Oh, okay sellers come in. They're starting to move it. We're looking forward to continue Here we had that that volume down here. I was still looking for them to to move it Hey, but then we went through that other scenario and and that's the one that unfolded Like we know that there's a lot of selling down here and they can't seem to get through it uh, and It's not a whole lot of buying That that comes in and moves it back up All right, but anyway, we'll see the distinction We know when they're really moving it away from an area and where they're really moving it, uh You know Away from the area on the buy side here. This one actually looks really good again This is really good advertising for for buying to take this higher Hey, this was after the stop run to after the stop run Right, so we still see some more stops triggered in here But this is these are buyer new buyers are from around this point onward There's this back and forth in here. This is new buying in here And this is them getting stopped out here Hey below the swings in here So this is pretty wicked stuff, but you know, this is how the market works And you have to figure like once buyers once you become a buyer now your position is a seller And where are you going to feel the pain and where are you going to cover? Okay, some selling icebergs coming in here This guy's still down here at six six hundred and forty five that transacted Let me go back to I like I like seeing the Icons on here Let's see on the bottom. Those are volume bars. Yes, these are volume bars down here. Yeah Yeah, let me just right click on them and you can go right to volume bar settings Okay, and I have them match my dot settings for for the clustering You know inherit inherit from the dots, right? Just click on that Uh, and then I have my setting here. I have the bar width of 15, which is the max I have it on solid and I have it on volume delta Okay, so it should look pretty similar to what I'm seeing in the dots Okay, sometimes, you know, it looks sometimes you get more clarity by by looking at that Okay, look again here buyers see how they're trying to move it away here Okay, uh, and uh, I don't see a lot of stops here yet So we're going to get continuation or are we going to get, uh A continuation of this up move here. Okay. Well, then we're looking for them to bounce off of this area here This is our pullback. Okay. It is a low volume pullback Okay, now here's the this is the point here kind of do or die Our buyer is going to support it here Hey, maybe maybe you can go a little bit lower, but yeah, it looks like they're going to try to support it Looks like it Okay, this is tricky Okay, we're looking for either there. We're going to support it or we're going to get down below here below Where they initiated this move outside of away from the most traded level Okay, if they cannot do it look for sellers on the other side here Okay, and they'll trade it back down to the lower, uh, levels here probably probably down to this kind of 96 or 95 liquidity here Okay, in fact, we have a nice little kind of the order book is has a bit of a skew here So let's see if we get our sellers in here. Let's see if we can upend these buyers Looking for sellers a big big selling here Hey, let's see if we get a better skew in the order book. See how see how the skew is right now Hey, there's more supply up here and and we're not really in the middle here We're looking for sellers to take it back down now Okay, the middle would be somewhere around 99, but they can take it back down to 96 and 95 So we're looking for that scenario here And it's not not unfolding yet See buyers are trying to support it here Again, that's new buying mostly new buying. There's some stops, but mostly new buying in here. All right. What if we get sellers below it here? Okay, these these buyers have to unwind and they'll unwind down here Down down at the bottom here Okay, so we're looking to see where these seller or these buyers get upended. It's going to be down here right Well likely down here Okay below the swing All right, so that's the scenario we're looking for here. Let's see these sellers come roaring in here now Looking for them. Okay So basically, you know, it's kind of a little bit of a a leap of faith on this one here We didn't have much in the order book I mean, we do have a bit of an imbalance here But we don't have a whole lot to kind of support this this idea. It's just that we know that this is new buying Okay, we're using our stops and uh icebergs in here to tell us this Hey, even in here, this is still there. They're still buying in here. Hey, they're going to get upended if we get down below here Okay, so here here. This is this would be It's not a recommendation, but you know, where do you where do you get in on something like this? Well, you look for some some exhaustion. We got it here You know, you just basically just have to kind of leap of faith here Uh and and jump in and look for that move Otherwise, I really don't I mean we can look for the order book skew Maybe to give us a little more insight if they if they come down here And uh, I really skew the book here. We're looking for that move All right buyers can shoot right back up here right now to o2 or o3 very quickly So if we get the skew, maybe that that's a good a good, uh You know way of looking at a a bit higher probability here And it's going to be a quick move. That's the thing Okay, we have a lot of icebergs that are absorbing on the uh cell side there Well, not a whole lot but some Okay, a lot of buying All right, so that scenario is not not unfolding Okay Still could though if we get down below here Boy, this is a kind of a boring session to be honest. Um Just look look at the you know Just just right in the middle here And this wasn't bad and and and kind of miss this one here For this move back to the center That was good for about 10 points Anyway, I think in this environment here identifying these buyers and sellers that are new in here Like here's our stop run Okay, all the way up to about here And now this point this point onward. This is new buying in here Okay, so look for the sellers to put the squeeze on them Okay, same in here now. There's a stop run there Okay, now this is more or less new buying in here Okay, so are we going to get more buyers back up above this area in the move? Or are we going to get sellers down below here and try to move it and have these guys uh forced To uh to become sellers A lot of icebergs here on the sell side Starting it. Well, not a whole lot. And this is why I really like uh looking at um Yeah, I mean actually we're seeing quite a few quite a few If we if we put it all together in here This is why I like having both on my chart and I like having summation here Uh with the icebergs How do I know that that is new buying old buying whatever? Um, yeah, because because If it's a stop likely it is well, okay, so um Yeah, I guess it's uh somewhat of a um You know, I'm assuming Right, so I mean it could be buy stops entering the market, but most likely it is sell stops Um, all right, you know sellers that are you know, they're they're covering Okay, and that's why we get the stop runs these quick, you know big big moves here like uh like this one down here Okay, that's a stop run Okay, so most likely they're getting stopped out of the market Right, so if if they're if this is if there's a lot of stops in here Is that new selling coming in? No Right is people exiting that the market So they're kind of like crossing the finish line Uh, you know as a as a loser, uh, basically Okay, so we're looking to where where you know, so where is their new buying in here? So this is another there's a stop run in here, but there's some new buying in here too Okay, this is new buying in here Right. I don't see big stop runs in here So now how how is this new buying doing? Hey, well, they're first off. They're going they're running right into a lot of icebergs Secondly so far at least they have not been they're making higher higher lows. They're making an equal high here All right, they have not made a higher high yet It looks like they're going to go for it Looks like they want to trade back up to 05 here Yeah, there they go Okay, now see the stop run there All right, so now we've got let's just take a look at this. Let's understand this volume in here So we have, you know, a lot of new buying in here now. They just got paid Okay, they're in profit now. It's a stop run though. Okay, so now let's look again at this scenario What if we see selling down below this area here? Okay, I'm looking for a quick move to 4500 and then maybe even even lower Yeah, these guys would be trapped. Yeah, or I'm sorry These guys in here will feel the heat they're in profit right now Okay, so looking for that scenario. Let's see if we get a skew in the order book And then looking for sellers to come right back in here No skew no skew yet There's some exhaustion. Now. Let's see if they if the sellers pick it up here Looking for them. There they are. Okay. They should be able to drop it here Back down to 4500 is what we're looking for Okay, look at the cluster of buying Okay, it's up here you know, so Like we're identifying stops up here okay, and looking for those If it's new buying or new selling in here so There's kind of they're kind of in balanced here, right So looking for our sellers yet again here now to hit the bid pretty hard back down to Our our most traded level here and not showing up yet You know, we have we have some nice iceberg activity in here, too All right sellers hit it There we go. They should be able to hit it harder than that A lot harder 4500 and I want to see the other side of the range. I want to see them blaze through the Uh, most traded level here All right, I want to see them get maybe maybe back down into our uh, here they come There they there they are. All right. So we got down to about Well at the bottom of this range here, okay, 98 All right, still looking for them though. I want to see them push it all the way back down To our 44 90 level. There they go There they go 90 95 the c 95 Transact And I want to see We're probably gonna get we might get a pullback here If we get a pullback likely to about 98 This is where they kind of took control. Well here Just you know above just above 4500 and then also here Okay, look at the stop run here Okay, this is this this is uh, this is good. This is the scenario. We're looking for new buying In these areas up here here. We had our stop run, which is not new buying that's selling likely getting you know exiting But then we have we have these guys still on the hook in here and here. They're not now they're exiting Right. So here we got our pullback here at 98 Right. It is a low volume pullback Okay, there's more selling than there is buying in here even though it was a pretty steep pullback here Okay, so does that make sense to you? Do you guys do you guys understand this kind of Under understanding of like who's on the hook in some of these areas in the order flow Okay, and then how we see the You know understanding the con Not only the context here, but like like the the level at where this buying and selling is taking place Right. And so instead of like being really frustrated in some of these days We can kind of look at some of these areas in here and see where they might be upside down And we look for this kind of activity now that we have a new stop run down here I don't know if we're going to get down to our 90 level Right. We have to see new selling coming in here now And I don't see it see see like this is again like we have mostly stops being triggered all the way down here Where the sellers in here? I don't see them Right. We're looking for sellers to start to come back into this market and so far there's just There's more buying than selling so they're going to trade it right back to the mean here And we're back to square one Okay, so um Fatal does that make uh make sense Headbangers ball Thanks, Tom Yeah, yeah, that's a good scenario to look for uh, Doug like uh, uh, you know, yes may chop Around 4500 until european close like back and forth back and forth Uh, david the cvd and hero. I'm not sure to make of it any ideas. Um Yeah, I mean you're you're looking at your you know your your volume and then uh, uh, your Your hero, uh, let we can go through that scenario here. Let me let me just go We I'll kind of circle back david if you don't mind. Let me get through some of these other questions in here Uh, and kind of cover this point here because this is this is kind of the the crux of of today here Sorry to understand where this volume is trading on each side here Uh, and then when we can where we can anticipate maybe some of these moves to start to unfold And where they might start to target like our 95 level down here Or below some of these swings down here So beautiful beautiful little stop run uh down into that area and then you can see we're right back to square one here All right, and we don't have new sellers in here not really There's just these guys that we're buying in here are just you know, basically got their head handed to them And let's see if these sellers now. There's some new selling right there Okay, but you know, they they may be on the hook as well Get back up above them and come right back up to o2 All right, so let me let me okay I'm gonna kind of uh We'll see if these these sellers. Yeah, it looks like sellers are gonna try to try to go for a shot here at 95 again and then let's see if One another scenario to start to understand is selling down below 95. That's new selling Okay, not a stop run Okay, and then see if they get on the hook and then you get those mean reversion traders to come right back to 4500 So here we go. Let's see if we get that scenario here Okay, or are they really for real here? I mean, they're going to move the market and and we're not going to get buyers coming back in to try to upend them Okay, a little bit of a stop run Hey, we'd be looking for them to be upended if we get buyers back up above 95 And then we look for those buyers to really come back in Okay, so we're now we're coming right back down to our 90 level. Okay instead Hey stop runs all the way down to here and here. Okay that and that Stop run This guy's 645 icebergs still there and high liquidity right here Yeah, Doug. Thanks for jumping in on that on with helping out David. I mean you you're the the resident expert here on on hero Okay, okay, David. Yeah, let's uh Anyway, we can we can go through and still kind of you know go through this process identifying these buyers and sellers And what what type of a volume is it? That's amazing to me. Like I just I still just can't get over it Like what a what a tool to understand. I mean like I just I'm just amazed like We we know if like, you know, these are stops in here. We have a we have insight to this is just just incredible So this this is where the majority of the stops are right in here. Okay, so buyers back up above it look for it They'll come right back to 4500 here Yep, here they come. They're gonna go for it You know, we can also take a look at the selling in some of these areas here. I mean look at our profile in here Now, you know, we cover profile in here, but that's really tom tom bees Um A field of expertise of going through your your volume profile your market profile Okay, we cover it in here, but it's just one of many things we'll cover in here Right, but I'm what I was going to get at is what if you see this profile skewed and we don't right now It's pretty nicely distributed, right What if we see just massive selling down here and it's a skew Well, you know, we're going to get probably sellers try to push it You get it you get your b-shaped profile in here more transactions that lower area here And they'll push it into some of the try to extend it Uh and uh start to maybe trend All right, see the um, we're looking for those buyers to come in but this kind of spoiled the party a little bit I mean, if the if there's those mean reversion traders show up here like They've got it if they want it and they've got a target here of high liquidity too They can trade right into it and this is where they can cover if they want to So I'd be looking for them to show up here So this kind of skew in the auction is actually for these buyers to trade it back to the mean it makes good sense Let's see if they go for it Looking for them and maybe a bit of a push here on the on the offer Yeah, see these guys are fickle in here too. There's like, no, we're showing some supply, but not really We pull we want to show some supply It's probably probably this guy down here who wants to get his his ice bird filled Now they just pulled they pulled and added higher here. Okay buyer now buyers can really trade it easily back up to you know, Uh 99 and 500 here Now now he came back in Come on buyers. Let's see it. If you want to trade it back to the Back to the mean then here's your opportunity They should go for it There they there they go There they go See the little bit of a skew on the in the order books Yeah, I kind of got became more blue down here Now i'm still looking for them to continue on up to 99 and and five 500 or 4500 Boy a lot of a lot of games a lot of games going on in here And this is gaming in here as you guys can see Even look at this kind of this is a like almost the opposite of a ignition algo in here Trying to skew that auction to the upside see see how they're see how this algo is doing that Okay, it comes in here and then like you know high liquidity and then pulls adds higher pulls adds higher So, you know, they're kind of like it's If you look at your delta chart, um Let's let's go through a column in here look at um Quotes delta right you're going to see them pulling here Right and then uh and then adding uh now this this the delta chart is so quick But they're they're pulling more here. Uh, so you're you're looking for them. It's kind of You know pulling and adding at a higher level pulling adding at a higher level And uh So, yeah The supply is kind of being added added higher right so Kind of opens the the the area up for the buyers to kind of fill that area in Kind of getting them to enticing them to to to go higher here So they did it in here as well as in here and it worked. It got the buyers to go up to here at least And here they are again. Hey, we just saw a big iceberg in here. No not that big all right, let's see here so um Not not bad not bad to see some of these things and start to understand the volumes within some of these areas here and the the significance Uh and and where they have to become buyers and sellers in here now We've got uh, you know about 12 minutes until the european close So we're going to get some volatility in here these guys kind of show up their positions So we can bash down here at 90 and then bash right back up to 4500 Yeah, it looks like they're going to try to go for it here. Let's see And this guy wants to get filled in here. Um, of course, uh, he's waiting patiently That's a big ice iceberg to 645 At least for what we've seen today put it that way Uh, let's go through david's uh scenario here. Uh, and we'll turn on hero Oh boy, I hope I I hope I have data for you david. I might I might not No, I'm sorry. I don't I don't We'll have to cover it another day, uh, david. I'm sorry about that Let me let me turn it on and and just um, at least I can kind of Shut it off by really having a really really high threshold here And then we can maybe look at it tomorrow Uh, in the meantime, Doug Doug's the go-to guy on that Uh, you can ask Doug in the in the in the forum or in the uh, uh, discord chat here All right, let's see if we get our buyers now. All right, so we got some We got our european close, but we've got some selling down here It's not really stops looking for these buyers trying to trade it back up into This 4500 here Some more selling coming in here now. See how these guys can these sellers in here. They're selling up here They're going to get upended just above it here Right, and let's see the buyers come in and they should be able to move it here Yeah, these guys are going to be on the hook Okay, where are they going to get stopped? Where are they going to become buyers up here? 97 on up to uh 500 Here and here we go Okay, well almost got to 97 and a little bit of a stop run Not much anyway Let's see here. Let's just kind of review take a look at some of the uh, uh Like this is really kind of choppy in here and we we anticipate that Um, due to the close here, uh, but we were and also looking for some of these other moves. Um First off we were looking for more selling down here Okay, and the opposite scenario was the buyers start to start to come back in Because the selling took place down here All right, this is what we covered last week about understanding where the sellers are Uh, and then you know looking for and also a stop run here And then and then buyers trade it back to the mean Hey and and have the um uh Maybe the other side develop on the other scenario develop on the other side. So, um Yeah Anyway, we covered a lot of different things and uh, uh, anyway We did get we did see the buyers take it to to uh to 10 and above up to to this kind of 1250 And then we started to look at okay here big stop run Okay, and then maybe potentially sellers on the other hand other side here With the we got new buying up in these areas in here and that's when we kind of go went through the uh Uh in more detail about understanding where where these buyers and sellers are in context in in the ranges here or outside of the ranges And then looking for the move back And then still I I thought we since this was pretty heavy selling I thought they would be able to get it right back down here immediately Uh, they didn't uh, we got buyers on the hook in here Then we got the move And we're starting to identify them again in here and then how and where they might be upended Okay, and we got the move back down now. We're looking for the same thing again here Uh, we we follow this, you know, these stop runs, uh, and then also, uh, where there's new buying and selling in here And where they're going to be on the hook Okay, maybe a good good kind of strategy for uh, uh, you know your single distribution days here Okay, we just don't see any sort of skew in here. We're starting to get a little bit of a skew down here. I see the bump here All right, so uh more selling down at the lower area in here But uh Kind of kind of matches this one at the moment. It's kind of funny. Okay. All right. Yeah. Thanks, David. Thanks, Doug All right guys, let's wrap it up. We'll call it a day and uh, uh looks like, uh um Well, you know Keep keep your eyes open here to see if we can if we're gonna get let's let's jump back and look at our bigger picture I guess we just covered the what we saw today But our bigger picture here, uh is uh, well, you know 15 minute chart here our hour chart and our daily chart nothing happened in here on the daily Not much on this hourly on this 15 minute. This is where we know there are buyers down in this area here So let's uh, let's mark it up. So if we're looking for our sellers to come in Then we're looking for them to trade it down into here Somewhere around in here Shoot, let me let me try to move that. Yeah, somewhere around in here Okay, and then if we get our uh, we get our buyers in here to rate it back to 4500 and above Well, we see the wicks up here around 12 we saw that during this webinar, but they're they're really up here Okay around uh, uh 32 or so So let's mark that up And we'll take a look at these tomorrow and see what went unfolded here And we also have a gap to fill up here. So we can take a look at that That's something like that All right, all right guys, we'll let yeah, thanks for coming everybody. Uh, oh, thanks. Uh, thanks alec I'm glad you guys you found it helpful here and Look, we're covering a lot of different things in here in the order flow We're looking at specific levels and we're looking for the order flow around those levels Then there's lots of different ways to uh to trade You know the goal for the advanced webinars is to try to cover Many order flow phenomena around Uh, very various higher time frame ways of looking at the market Okay, if you're looking at candlestick patterns you're looking at, uh, you know, it could be Fibonacci's it could be, uh Fuller trader pivots it could be just you know trend lines or something Uh, or maybe it's market profile or volume profile Okay, so, uh, let let carry on into the next discussion. Uh, thanks. Thanks everybody Um, we'll carry it on, uh, or tom b will, uh, you know start streaming here pretty soon and carry on the discussion there if you guys want to, uh Uh, uh have more, uh, live analysis. All right. Yeah, thanks for coming everybody. I'll have this, uh, recording up Uh, in a few hours or so Yep, take care. Bye. Bye