 All right, well welcome to the week here for the webinar series. We'll go through the order flow in book map and what book map is showing you, how to use it and showing you live markets that applying this knowledge within the live environment. It really bodes well. You're able to then understand what you're looking at and then you can start to anticipate and utilize this tool within your trading methodology. So risk disclaimer, trading equities and futures involves substantial risk of loss, is not suitable for all investors, past performance is not indicative of future results. You can go to bookmap.com for more information. If you're a member, you have access to free resources and then support at bookmap.com is our email. So this is where you can find book map. If you want to give it a try, you get a 14-day trial period. There's a basic and advanced version and you can see the price difference here. They are billed quarterly but you do get that 14-day trial period. And the differences here between the two is the add-on indicators and the ability to trade from the chart. Some really important or powerful confluences at some of these levels using some pretty unique indicators here. The basic and advanced are also available with DX feed as a package. You can get it that way as well. Or if you want the flexibility, you can either get the basic or advanced and then add the DX feed later. So you don't have to have the package version. It's up to you. You'll save a little bit of money if you're looking at stocks with DX feed. And then I just wanted to show you the bookmap portal logging in here and you have access to all the webinars and videos. Or you can go directly to our YouTube page and you have them here. I do want to show you the new education series that we put together. So go to playlists and then go to bookmap education course and there's four parts to it. So if you're unfamiliar with bookmap and you're new here, this is where you can go and start to understand what bookmap is showing you and how to get up and running using it. And just understanding these markets, that's what the course is for is that you can understand these markets. And then understand that bookmap is giving transparency in a very unique way that will help you make decisions. Let's see here. The Twitter feed is here. And if you want to follow us on Twitter, as well as subscribe to our YouTube page here. All right. Okay. Well, let's jump right in to bookmap and interface and to show you what's going on here. Okay. So let's take a look at the ES. And we're going to go through this exercise here, all indicators as well. And let's look at candlestick chart. That's a five-minute candlestick chart. Okay. All right. Now, most of us are familiar looking at a candlestick chart and understanding the data, open, high, low, close, the color of the body, and then starting to also understand the wicks, the tails, and starting to understand perhaps some of the order flow in some of these areas based on just the candlestick and also a few candlestick patterns together. And this is good. I mean, you know, it's helpful data. However, you're looking at basically about 5% of the data out there. It's not giving you a lot of transparency into how these markets actually trade and operate. You don't know where the volume is. You can add a subpanel volume chart. We can add that here. And that's better. Okay. Now, we're understanding some of the candlesticks and open, high, low, close with some of the volume. So we can see that there was a lot of volume here. Okay. But we don't understand as well what type of volume it is. Actually, Bookmap's volume bar's chart does split out the volume, so you do get more insight there. But usually you just see one big bar and you don't have the distinction between buyers and sellers. Okay. And, you know, so you have a better picture of what's going on. But there's a problem here. You don't know the volume where it traded, how much traded, what type was it, and exactly when. Okay. Especially where and how much. I mean, that's so critical. So a lot of us look at volume profiles, look at other volume studies, et cetera. But let me, I'm going to turn on some layers here of data and we're going to start to solve some of these problems that are lacking in the current charting platforms that are out there. Okay. Volume being one of them. All right. So let me first just turn on the historical best bid and offer. Okay. And now all we're looking at, overlaid on top of the candlestick, is the historical best bid and offer. So we can, we already have a little bit more information here and this is good. We can see that after this five minute period closed here, we saw a pretty quick move down and then a retest back into this area and then we saw move back up, right? That's how this candlestick closed here. And this is already giving a little bit of little data and information of the candlestick activity, what happened within this five minute period. Okay. But let's turn on the volume and it's not really giving us a clear picture. Okay. And let me take the dot size down on the volume a little bit. All right. That looks pretty good. Okay. Now all I've done here on this candlestick chart is I've turned on the volume dots. So now we're looking at the transactions that occurred on the historical best bid and offer. Okay. So between these two bars, for example, these five minute periods, we can see exactly what traded, what type of volume, where the majority of it, the clusters traded and how long, you know, you can start to gauge some of the speed as well as this quick move down. Okay. And we can see the volume that traded down here. Okay. Now we have an understanding of what comprises this WIC. This is important data and the problem is solved here. You're not able to see that on a candlestick chart. You can see some of the volume down here in a sub chart, but it's not giving you that critical information. You're not seeing where it's trading on that candlestick and how much and at what period within that five minute timeframe. Okay. So already now we have quite a bit more information of what's going on here. All right. And that's a problem with the current charting platforms is you don't see that. In fact, a lot of times what you'll see instead is some sort of indicator or derivative of time, price, and volume in a sub chart. Okay. Instead, we're giving you the transparency here. Okay. Those of you who are familiar with footprint charts are going to know exactly what I'm talking about here. You're going to be looking at that footprint chart. You're going to be seeing exactly the transactions that took place versus you're going to look at it diagonally, bid versus ask, and who won the battles in some of those areas. Okay. Now, let me zoom in here a little bit because we're going to show you here as I zoom in. We have the volume displayed here. A green dot takes place on the, it's a market buy. It takes place on the best offer. It takes liquidity. Any market buys or sells, they consume liquidity. It's people in the limit order book with their limit orders are providing liquidity. And the aggressor here, the market buy and sells, they're consuming that liquidity. That's just how the markets work. Okay. So, a red dot is an aggressive sell. All right. So, now you can see that some of these dots here have a pie display. Okay. And that's because so many transactions took place here that we're giving you the overall delta of that cluster of activity here in this pie display. So, now you understand what this consists of. There was more buying here than there was selling in this little pie display right here. Okay. We can see in this one here is the majority of its buying. Okay. So, you know, a quick move down and a quick move right back up. Okay. And if we can see that, I mean, it's just fascinating stuff. Just the volume alone, look how we came back down and tested where we see the aggressive buying take place here. Okay. And look at the selling that took place down here. Very little. Okay. So, we rotate up again and the aggressive buyers, they come back into the game. And they lift the offer. Okay. So, just adding the layer of volume here is giving us a lot more insight to what's going on within this candlestick. Okay. And that's very helpful. However, there's a whole nother picture here that we're not seeing. And that is the auction. Okay. In the, in a dome, a traditional dome, what you're looking at is the liquidity here at these price levels. Okay. So, these are contracts, traders providing liquidity at these levels. And as you see, I move forward here, I scroll forward. You see that these numbers are constantly changing. They're constantly adding and pulling the liquidity in that limit order book. Okay. In a dome, it's, you can read it here. And you can see the numbers. However, when those numbers change, the data is not, it's fleeting. It's gone. Okay. We don't have a record of it. Okay. That's a problem with the dome. And this is something that Bookmap solves that issue, because we take this data here in a dome and we record it. Okay. And we give it a graphical representation. And then we, we transpose that onto the chart historically. So, what that allows you to do is to read the auction historically, okay, it solves that issue of the dome data. Which is, it's, there's a lot of tape readers out there. And they're, they're reading the time and sales and the volume. And they're looking at the dome to see where the high liquidity is in the book. But it's very hard to track that liquidity. They're not going to know a host of information. So let's turn on the Heatmap, okay. And what does this look like? Okay. So, I might have to adjust the setting here. But immediately, I can tell what's going on here historically. And look out, look how price is channeling here within what? Within areas of high liquidity. Okay. So, we see an order book and balance in this area here. But and we, and we trade into it. Okay. Transax and some of it is polled. Okay. There's a, maybe a potential spoofing going on in this area here. Alright. So, now we're, now we're getting a much clearer picture. And let me show you what that looks like in the dome, this little area here. Alright. So, here we are in the dome and you're going to be reading your dome. Okay. And as I scroll forward, we see, we start to see some, some contracts join into the, you know, from what we go from, oh, this year at 57, from almost a thousand contracts here. Okay. At 57, now they have almost 1,300 or 1250. Okay. Now look at it. We have almost 1,500 contracts. Okay. They're adding in high liquidity, very close to price. Right. Here's our best bid and offer. Okay. And now we're reading the book, the liquidity here on the price ladder. Okay. And as I scroll forward, look at, look at some of the other areas around it. Okay. They're really starting to add in here on the offer very aggressively. Okay. And if you're reading the dome, you're going to have to remember this, remember some of these other price levels, not just 57. And then you're going to have to remember, you know, how long they stayed in there. This is new liquidity. This is something, a new skew in the auction, in the book here. And then we can see that price, it comes back up into these areas, okay, and trades right into it. All right. And now they pull that liquidity, okay, or at least they did up above here. And let's zoom in and just precisely see what unfolded here. Okay. Well, we can see that they pulled a lot of that liquidity. They had no intent to trade here. Okay. We see a big market buy here. And we can know exactly what that is. We can use the tool tip here, roll over, and we can see the, on the ask here, we have the date, the exact time, and what was on the ask at this price level of 57, and then the volume. Okay. So this dot here is for a volume of 630 contracts. All right. And we can continue to zoom in and look how we just visually or graphically aggregated that data, but it's not aggregated in book map. You can continue to zoom in and this is what really unfolded. Okay. We're down at millisecond level here in the timeline, as you can see. And you can see just a flurry and a cluster of very aggressive volume very, very quickly. Okay. And this is algorithmic activity. Notice how it's spread out very evenly. And look at the algo here working as well. And now we're starting to get the transparency of what's going on here. And this is giving us a lot more insight to what's going on. Okay. And as I zoom out, notice how we take all of that data and then just visually and clearly aggregate it for you so you understand what's going on here. Now, in a footprint chart though, you're not going to see that, right? What you're going to see is just going to sit there until there's some other mechanism that makes the chart rotate is based on either time or it could be a specific number of rotations. Okay. So that's a disadvantage with the footprint chart. All right. And Bookmap solves that problem here because we've got all the data. So you can understand now the speed that took place here as well, okay? And in the exact information that took place here, okay? And we also know here now that within this area here with this high liquidity that they had no intent to trade, okay? Very little. So what they're doing is this high liquidity here, 1400, 1500 contracts, but they're skewing the auction, okay? It looks to me like they want to show a big supply very quickly to press price maybe down into 55, okay, where they're waiting to get filled, okay? And they didn't get that, they didn't accomplish that. But anyway, I don't know, maybe they got tired after waiting for a bit and then just started to just very aggressively lift the offer instead. Maybe this was good enough. Maybe they were front-running and using the hidden orders to get filled down here on the bid. And maybe the mission was accomplished here. But we do know one thing. High liquidity, no intent to trade in this market for a very short period, we can see here, like just basically a second, right? So and then they pull, okay? Anyway, now as they zoom out, notice how we've recorded that information, okay? Now we're really getting clarity here of this candlestick and what's going on, okay? And that's where a book map is going to offer you that clarity to understand what this candlestick means, where the traders are. These traders down here, well, this is going to be trapped, trapped volume. Where are they going to cover? Probably up here. And we go up into those areas, all right? So yeah, interesting stuff. And this kind of transparency here is what traders are going to demand for trading in the markets in the near future. They already are demanding it. But we're starting to see the algorithmic activity. And we're also starting to just understand all of the data together, okay? So we're reading the auction. And that is not possible or very difficult to read from the dome. But we can still go back and read it. And we can start to understand some of these areas, okay? So if this is traded, if this is trapped volume down here, well, maybe they'll start to bid up in these areas here, you know? And we can see that they did raise the bid a little bit here. But instead, now it looks like they're kind of spoofing to the other side, okay? Trying to drive price up into some of these areas, okay? And that's currently where we are. We did come up and test 60 here, okay? But and we're looking poised to test it again, all right? Okay, so any questions on this? Let's see, Francisco, more than exhaustion. Oh, yeah, I mean, Francisco is talking about some exhaustion and what that means, okay? So, for example, on this candlestick here, okay, and this wick, we notice that there's a large cluster of volume trading here, all right? But look at the exhaustion points here and this little area here, okay? And what do I mean by exhaustion, okay? I mean lack of trading, all right? So, and this is a strategy that actually we cover in part three of the educational series. So this is a microstructural example, okay? It's not a very big example, but it's still holding quite true here, okay? We see an imbalance in the book. We see the, then hit the bid into a lower area, okay? And then we see them pull it away very quickly by lifting the offer here. And where do we go back to test? We go back to test to find those buyers. Are the buyers still here? Right in this little area right here, okay? And we don't, we actually, we do see some buying one tick above. We can see them here. There's the majority of these guys and we can zoom in and I can show you exactly, and I can split this data out here in the column and I can show you exactly what traded within this range, okay? And here it is, okay? So we have, let me get rid of VWAP as well, all right? Okay, so almost 1,800 buyers compared to almost 1,400 sellers, okay? So there's more buyers than sellers here in that range. But what about this tick here, or one tick lower than that, okay? Well, here's what's going on. We see just 26 contracts sold. That's what comprises this data here, all right? And then no selling. So if there's no selling, and they're not gonna drive price lower, because we need a seller to drive price lower, an aggressive seller. And we're not getting it. So we rotate up and test here on the offer and find more buyers. And they pull price up out of that area, okay? So the market at this point here, it exhausted. And we can count how many times it tested it once, twice, three, four, five, six times. And still just complete lack of selling here, all right? Okay, so now you're starting to understand what book map is showing you. And the problems with some of the traditional charting platforms out there is footprint charts as well, and just because of the aggregation. And also because of the time, the rotations. And that's a lot of this data here, the speed and these quick moves and these microstructures and these traps is all gonna be, all of this is gonna be lost in a footprint chart. You are not gonna see it. And instead here, we can start to piece this together and start to see the aggressors lack of selling and then aggressors come right back in, okay? All right, I mean, it's possible maybe on a footprint chart if you really zoomed in and we're looking at a really small time frame that you would start to see this bias. All right, but you can see it here in book map, all right? Okay, and then regarding the whole other side of what's going on here. And that is the auction, understanding the liquidity. The liquidity is basically what the market needs to trade, okay? Without liquidity, the market, it just won't trade. I mean, what is the aggressor gonna, where are they gonna take the contracts from? So understanding this data here and being able to read it is very important. Understanding that, I mean, it's fleeting in that dome, okay? That dome, you'll see the numbers flash and you'll have to remember them. It can be pretty taxing, but here instead, we've got it recorded, all right? And we can start to piece this whole thing together. All right, so let me know if you have any questions on that. Because as well, like I was showing you here with the tool tip, you can roll over these areas and you get the numeric values. But displaying this graphically will give you the overall very, very quickly and is very effective to understand some of that high liquidity, pressing down, and then that lack of that exhaustion that we saw down here, and then then starting to lift the offer right back up, okay? Okay, let's see, Francisco, more than exhaustion before 1040. Yeah, let's see here. Well, yeah, it's right in this little area here. That's that pocket I think you were talking about. Yeah, yeah, no, absolutely, I totally agree with you on that. And it just stayed there, right? And that's where it looks like to me, the buyer said, well, they're not going to take it. So let's just get in here and let's just get aggressive and lift the offer, right? And that's exactly what happened. So anyway, yeah, nice comment, Francisco. Yeah, footprint chart is useless compared to book map. I mean, the footprint chart is, it gives a lot of insight. But to start to, there's going to be a lot of things that are lost in that footprint chart, and that's a problem. I mean, you're not seeing some of this clarity here in some of the detail. And you're going to see the numbers here, and maybe you would see a little bit of an advantage in this area, you might see a little more buying and selling. But clearly, you're not going to see this quick move back up, trapped. And then the exhaustion here within this small time frame, okay? Within, well, like a 10 second period or so, it just stayed there, right? And then they just, they came in and lifted that offer again, okay? Okay, let's see, Willard, William. Using book map, do you reference high time frames for liquidity, five minutes, 15 minutes, et cetera? Absolutely, this is, William, this is a really good point. And we covered it in, I forget what part, maybe it was part two, with structure and liquidity. And this example here was very micro, but let's just zoom out here, okay? And now we're looking at 15 minutes of data between each vertical dotted line. So actually, let's just change this to a 15 minute candlestick chart, okay? This is where, I mean, we can still see the high liquidity, okay? And it's still very, very valid, because they're waiting in the book. It's a first in, first out market, okay? So they want to get filled at these areas. And if they want a higher probability of getting filled, they're gonna stay in the limit order book. They're not gonna pull, because then they'll give up that advantage of not getting filled, all right? So, you can see up here, longer term, that look at how they started, we can read the auction, and in fact, let me do something here. I'm going to, we're gonna take all the volume off, okay? And let's take the candlesticks off too. Now let's leave the candlesticks on. That's fine, and all right. So now we're just looking at liquidity in the heat map and this 15 minute candlestick chart, okay? And we can start to understand, look how they came into the book here, after, or right before 10 o'clock, okay? So they want to be buy, or they want to be sellers up here. And they wanted to be sellers up here, a point further up at 2460. And again, a point further up here at 2461, okay? These are larger players, okay? Every point, they're showing higher liquidity here, all right? And we start to move up into these areas, and then we start to pause here. It's because of this higher liquidity here, it kind of shakes up the auction. And we can start to gauge an understanding of this auction now. All of a sudden, they're showing some supply, right? And jumping into the book here, and think of this auction with like an automobile. All of a sudden, there's a lot of people coming to auction with all sorts of automobiles. They want to be sellers now, okay? Well, that had an effect on price, or it will have an effect on price. Because if there's more supply, there's competition. And if there's competition and over supply, well, they'll probably drive down the price. And that's what's going on here, okay? This longer-term liquidity, okay? And you can see the longer-term liquidity also here on the bid. And William, your question is, well, how can this be helpful? Well, I mean, look where we're channeling right now. We're channeling still between these higher areas of liquidity, okay? Look how the battle didn't even really take place up here at 60. It looked like they were going to take them on, right? And they didn't. And we can see the price action now in the move to the downside, okay? So, and we can also see some high liquidity following on the offer. From 60 now to this 58 and a half, almost 1,400 contracts there. And what about where are they on the bid? Well, they're starting to, they just pulled some of the liquidity here at this 55 and a quarter, okay? But they're adding up a little higher now, okay? And let's zoom in here. And let me play around here with setting just a little bit, okay? And we can see how they're starting to pull a little bit here. But they're starting to also add up in these areas here. Here's another little skew in that auction right here, okay? Pushing price down, all right? Okay. Oh, good, okay. So I answered that for you, William. I mean, because we get this question all the time about, is this still applicable to the higher time frames? And yes, it is. There are many, many bookmap traders that are trading off of much higher time frames, and they're looking for how the price is behaving within that high liquidity, right? And then they want to maybe join in at some specific areas where they see an advantage in that auction, okay? And again, if you're trading off of the dome, you're really gonna lose all of that. You're not gonna be able to understand that. Instead, you'll be looking at, you know, traded volume. You won't understand that this 60 level right here was pretty key, okay? And look at them add up above in these areas too, okay? And look at them driving here. With high liquidity, they're still pressing, following down with high liquidity on the offer, and it looks like we're headed right to our 55 target here, right? Nor they failed to meet that area before, right? Okay. All right, Cheta, could you explain the advantages of hidden orders, feature phone I've seen showing about volume and hidden order? Yeah, okay. So what Cheta is asking about here is the iceberg orders and the iceberg detectors. Okay, so we have an add-on indicator here. So let me, I'm gonna take off the candlestick chart. We're gonna add the volume back on. And I'm also gonna add the indicators back on, okay? All right, so what Cheta is asking or inquiring about here is these add-on indicators. And like this 605 here, okay? Or this 1231 here, okay? This is an indicator that we have with the, yeah, hooray, you don't like looking at the candlesticks, Francisco. Well, it's important though. I mean, to make that distinction, understanding like a time frame and what comprises that time frame, all right? So in fact, I forgot to put on the best bid and offer, okay? And so, okay, so we come up into some of these areas up here and we don't fill that high liquidity at 60, right? So there's a way of, for larger players to get their fill before this high liquidity or, let me take a step back, it's possible to not show high liquidity in the book but still get filled with a hidden order at that area, okay? So that's exactly what this detector displays. It displays volume that traded but it wasn't shown in the limit order book as liquidity. So how can you have more trade than what was here on the offer? You can't, right? Well, I mean, it is physically impossible for something to sell that isn't for sale. But using that hidden order type, it's kind of like, it just doesn't show in the book. So it's not displayed, but it's there. And that's what these numbers represent, okay? The trades that actually transacted, but from contracts that weren't in the limit order book. So now we're getting a lot of insight by adding these confluences into the chart as well. Starting to understand that we're channeling between high liquidity and we're also seeing here larger players starting to get filled here, right? Just because I'm looking at the bigger numbers here, because we get icebergs all over the place. There's a lot of large players that exclusively use icebergs, right? So anyway, we can see that in this area here, they're getting filled here, right, in this little zone. And we come up and test into just a tick. We don't even, yeah, we did actually test right here into 2460. And you can see them pulling here, right? But they're getting filled with their iceberg orders, okay? You can see them, they're also here, maybe they covered down here with an iceberg as well, or maybe this is that big battle between buyers and sellers, okay? Whatever the case is, we can see that out of this auction that took place here, the sellers won, all right? And we can also see them here when we drop down below this range right here. We can see them get aggressive here with their limit orders on the offer, okay? 1,400 contracts here, okay? So perhaps this is the new trading range, okay? So the bigger range is here, between 56 and 60, okay? But this other micro range here is now between this, let's just call it 56, on up to this 58 and a half area, okay? And maybe we'll come back up here and test and then trade right back into the range, all right? Let's see here, let me get to a few of the questions. Okay, so Lawrence, I just covered that iceberg detector. Now there are some settings for it as well, so we can click here on studies configuration and we can click on iceberg detector. And basically what you get is, you know, display on the chart the different colors you can add and you can also have an alert, okay? You can enable it here and then you have a size filter for it. So if you're looking for icebergs over a specific amount, then you will only get that alert when it hits that minimum size, okay? And that's it, that's again, that's a part of the Bookmap Advanced subscription. Okay, great. Oh, CAD, CAD and oil. Did not add CAD into this? No, sorry Francisco. Okay, okay, a few more questions and we'll wrap it up here. Okay, let's see here. Okay, Chet, I think that answers your question. Could be when liquidity is withdrawn, that's key. Yeah, Francisco, I mean when the liquidity is drawn, you know, that's, maybe your point is, you know, because this was some minutes ago, an imbalance in the book. Absolutely, absolutely. For example, we see this all the time, okay? So look at the withdrawal of liquidity in these areas here. Okay, we can see it, right? And that would be rather difficult to read in the dome. Okay, that's the problem with that dome. But look at how it got dark in these areas here, okay? So they're pulling, they're pulling liquidity, right? And you can, you know, it doesn't take much to understand. I mean, the way that these, you know, if you understand just basic market mechanics, that if the sellers wanted, they can charge down here through this area because there's not much liquidity. But instead, we get the exact opposite, we get total exhaustion at this little area here, okay? And there's no liquidity around it anyway to trade, okay? So it rotates back up, looking maybe to trade this 60. Okay, the higher liquidity up here. All right, so yeah, good point on that about the withdrawal of liquidity as well. Very important, right? Okay, and let's see here. Icebergs could mean pressing the contrarian to run. Maybe, I mean, you know, the one thing with an iceberg order, though, is they are getting filled, right? They are committed, okay? And they're using a hidden order on purpose, I mean, so they're not seen. So, you know, I kind of tend to think that the, the icebergs, like, you know, why would they, I mean, if they wanted to show a skew, you know, why wouldn't they just show it in the limit order book, right? Okay, let's see here. If we place it at Tom, if I place an iceberg sell order, who am I selling to if it's not on the book? Well, it's possible. I mean, you're still in, it's a centralized limit order book from the exchange, right? And it's an order type, like a limit order, or like a market buy order. And, you know, it's a hidden order, and it's, it costs a little bit more to use, okay? Now, the way it used to work with icebergs is, you know, a little different, but anyway, you know, they'll just continue to replenish that area, but the, you know, that'll all happen kind of automatically now. So, let's see. Okay, Francisco, you really wanna go over that CAD. Okay, yeah, we'll do that. In fact, I will add it right now. Okay, I'm gonna unsubscribe from the Euro. Let's add in our CAD. You're welcome, okay. All right, so we'll take a look at that tomorrow with oil, all right? All right, guys, well, let's see here. It's been kind of, you know, we haven't really seen much. What we, we covered some pretty nice little areas, though, showing, you know, the advantage is a book map, but also, I mean, these were kind of important areas here in the structure. We can see that we, you know, we rejected out of this area down here, traded back up, went sideways for a while, and then we saw this break down here, okay? And now we're looking for a return back up into that area. And we still haven't gotten it yet, but it has bounced a little bit. And they're still aggressive here, right? They're still showing higher liquidity at 58 now, as well as this originally, the 58 and a half, okay? But we can also start to understand these fractal, you know, natures of the markets, because let's take a look here, okay? So what do we have here? Well, we have the high liquidity is up here, okay? And let me fix this volume profile, because I wanted to, I'm gonna end with this. I wanna show you how liquidity behaves within volume profile, okay? And here's our answer. Wow, look at them, look at them, get aggressive here, okay? At 58 now, all right? So I'm looking for a test down here to 55, because that's where the liquidity is, right? And this is our bigger range right now, okay? And we're trading between this bigger range, but we can see them in a limited order book, okay? So we know that that's where the liquidity is, and that we can anticipate this kind of range bound activity, okay? That's the longer term liquidity, and the shorter term liquidity here, this very high but short term liquidity is skewing the auction, pressing price into some of these longer term areas, all right? But anyway, my point here was about the larger structure and liquidity, okay? We see our volume profile and we see the liquidity. And then now we're seeing a microstructure develop within these more macro picture here. We had a trading range here, okay? Between 58 and 60, and we broke from it, okay? We're still in the bigger channel, okay? But now we have a new trading range. We are between 56 and 58, and that's currently where we are trading. And we see a shift in the liquidity as well, all right? Okay, all right guys, let's wrap it up here. We'll end on that note, but you're gonna see these things occur again and again, and starting to understand this behavior is really, it should allow you to really pinpoint and enhance your trading execution, because now you know exactly where they're lined up to buy and sell, and you can also mix that with all of the volume, all right? Understanding that distinction between that longer term liquidity and the shorter high liquidity. All right guys, yeah, so have a good day. We'll wrap it up and we'll catch up with you tomorrow. Okay, bye-bye.