 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map So we're doing live analysis here on Monday Tuesday and Friday 10 a.m Live trading with Jay trader stocks trader tomorrow Wednesday, and then scoppelsini a futures trader Thursday all at 10 a.m Let's go through the risk disclosures, and then we're going to jump right into the markets here general disclosure all book map limited materials information and Presentations are for educational purposes only and should not be considered specific investment advice nor recommendations risk disclosure trading futures equities and digital currencies involves substantial risk of loss And it's not suitable for all investors past performance is not necessarily indicative of future results. All right, let's jump right in here Let's take a look S&P e-mini off to a nice move to the upside here 930 cash open as you guys can see tour right through 4400 the figure also 4 4 10 Just trading up here to 4 4 25 right now And let's just take a quick look at it and see what's going on in here With the with the order flow the buying icebergs underneath here, so they're on the bid and Starting to wane maybe a little bit nice cluster of buying up here And what about this cluster up here not bad not bad They did trade into these guys. It already transacted with 4 4 25 and it traded. Okay, so Looks like we're getting a little bit of a pullback here And that we're still in a pretty nice uptrend. No Let's just put some lines on this here and just get an idea of price structure and and a diagonal structure at that All right, so hold on a minute here Make sure YouTube is all good Okay, should be good all good Okay, should be good Yeah, we're all good. Okay Yeah, good morning guys. All right, let's Continue on here And take a look at this S&P. We'll jump around like we did yesterday. We'll look at some more stocks There's been a lot of requests for looking at stocks, so we're gonna do that Also crypto when there's requests for that Let's see if let's see if we can get some buyers up here in this top of this range here Starting to auction out up here a little bit, but no not not quite yet as you can see I mean, all right, so sellers are gonna drop it down and Bottom of this range you can see it's starting to you know play with these trend lines in here But this is still bullish here. Okay, this is the beginning of Where we might see a potential pullback Or deeper pullback I should say But but look at the structure here and this will keep you out of so many of these trades Of going short in some of these areas here and then getting squeezed like this right now We should see a stop run here to the upside and maybe get up into this 44 30 up here. All right, so Yeah, pretty pretty wicked little move here actually Sellers I hit the bid. Here's our stop run already Up into 27 and then they throw a bunch of orders right underneath it here to support it at 24 This is kind of it's not a book flip here, but it's kind of like it in essence to You know throw a bunch of Demand right underneath where it broke out from here and trap anyone that sold in here And this is this is kind of stuff that happens all day long We need to be aware of it. This kind of insight for us is tremendous. Okay, so we're still finding buyers in here They're still trying to squeeze higher here But back to just to just to 27 here So nothing nothing shaking yet. In fact, um, yeah buyers in control on these smaller moves here But let's see if we can get maybe a bit more here we go. All right buyers Looking for you to take it up higher here 28 and 30 and we're getting a pullback Okay, but it's auctioning off up here Okay, that's good. So we can get a pullback. This is classic S&P Okay rotational And let's see if we can get back up to 27 and get our break out here We have some exhaustion here on the sell side. Okay, so that's good Let's see if the bid shows a little bit more here and then we have something higher probability And now nothing yet In fact, they're their sellers are starting to show at the bottom edge here All right, let's see if we get buyers back up here around 26 and a quarter there. They are all right buyers Let's see lift it here 28. Let's see if you can get to 28 Still still auctioning off up here. That's good and can't buyers can't seem to do it Still looking for there. They are all right. So buyers now they broke the high as well They should be able to get to 28 and then I think 30 here. Let's let's look for it. No not yet not yet This is this is back to classic S&P activity here Just just classic. This is what This is why we went over to Nasdaq for several months almost years basically This is these rotations these rotations these rotations and finally you get get what you're looking for Let's see it. Let's see it buyers up here. The bid looks good. We got that at our back here This is even better now looking for the breakout. There it is And we want to see it go through 28 and up to 30 here See how the order book gave us that insight here We didn't have that over here. It was dark This is maybe a little bit underneath here Even here it's dark. I mean, there's maybe a little bit down here, but that's pretty far away Compare that To this Okay, do you guys see the distinction? And it leads to this So there's our 30 We're just shy of it, right? Didn't quite get to 30 One take away. There it is. There's 30 All right, and let's see where else can it go here Still get higher Yeah, it still can go higher here. The still we're still finding buyers here Trend is still intact here Nice cluster even the profile starting to show a bit of a cluster here There we go a little bit higher 31 Okay, 30 the liquidity is up here 34 basically 35 Now let me get to some questions here. Look, I think there's some questions about what we're what we're discussing here Let me take a quick look here Good morning, Leonard Been watching the webinars after work. Can you explain how a trap looks? If you see some today, okay Yeah, yeah, I mean This actually had A potential for a trap as well as you guys can see though, you know, we notice the buying pressure. This is There's a distinction, but and this is good. It's a really good question, Leonard Thanks. Thanks for asking here Here uh is is what we're looking at yesterday We started talk about Where volume the volume is trading and and um, let me show the uh the video here Hold on the recording Okay, so if you guys have any questions about it All right, so here it is here from yesterday and it's the the title here. I entitled it Uh a volume clusters versus directional volume All right, so let's go over this and just review because this is I thought it was really good. Uh, it will help you. I think tremendously and start to understand distinctions in here Uh of volume and probabilities or more likelihood by understanding The likelihood of the move following through by understanding the order flow within it. Okay, so uh Here We have a volume cluster. Okay, it made it up to our 28. We're looking for that move to 28 three or four times It finally did it And mentioned that's classic kind of s and p which it is and um Now here here's what we were covering is like you get where is that volume trading it's trading up here all right, so That's good But it would be better if it was consistent and we saw consistent buying All the way through Okay, like this over here isn't bad. That's why we were looking for this move higher They started buying here and it was pretty consistent, but it kind of you know, uh petered out up here Okay, kind of ran out of some steam and then we saw another move up here great, you know Now there's even more volume up here This is looking really good that it should come up or more likely Still getting in the habit here of more likely to uh come up to 28 and 30 at this point here It didn't had to rotate more Another cluster up here Okay now that directional move and strong volume and consistent volume is is much more telling uh That the the move will likely continue Because they're moving it away with a lot of volume and a lot of pressure to to another another area Here you have the possibility like a cluster like this You have the possibility for sellers to come in down below it here Below the buying cluster back in this previous range here, and let me get my pen out It's going to be a little confusing with uh The um all these rectangles No, I want to keep it I want to edit all right. So anyway, we have this bigger class this um Uh Bigger range here and we have this cluster up here Okay, so now It's possible that sellers can come in below this cluster here And we see big red dots in here Okay, when we start to see stuff like that looking for the the that Either the first point would be the point of control which would be this here Okay to retest the point of control in here It could still bounce off that and go higher A lot of times it'll you'll see the sellers come in and then start to sell below that point of control Sometimes that happens to where in it still goes higher Okay, uh, but a lot of times that's where They're done Right and you'll get the sellers come in and they're going to drive it back down to the bottom of this range here Okay at that point We're looking for another cluster Okay, another cluster kind of like this one here. Okay, but sellers Okay, because we're still bullish here and we get a cell cluster down here And now they can be upended. Usually you will see a stop run right in this area here And now we have new sellers or people getting stopped out And if we can come back up at that point up to these highs up here Okay, and back into the range Uh, then we're looking for the stop run over on this side here. Okay with buyers All right, so anyway, let me know if you have any questions on that And it it's it looks more complex in the drawing than it actually is It's actually pretty pretty straightforward stuff. I mean like look for where the where the volume is trading And know that they can be trapped If if you get the scenario here that the the sellers come in Now what was different in this one here was, uh We didn't get any sellers down here. We got more buyers up here. Great. We're looking for 30 Okay, and then we noted up here. Well, you know, now they're starting to move it away Uh, and that we can we're we're still in the trend Uh, we're looking for maybe the top of our range here that we drew here with our diagonal line back here It went right to it Okay, so, uh, that's where I think you can get a lot of insight on these clusters volume clusters. Where are they trading? Uh, and and how they can be upended Okay, a big big difference in here. Uh, here's another cluster here Uh, and then you can see that. Yeah, you know sellers came in and just went just below it here This is strong buying for this breakout here and they came back and retested it right here All right, so uh, a lot of different kind of things to um, uh, well just one Difference here to look at Where is that volume trading? within the the the range in the and and understanding these clusters here Okay, so even here now we I I know I kind of took a quick look at price. I I know we pulled back Uh, this is going to be the critical cluster here Okay, about around 28 or so 20 28 and a half or so Okay, because there's all this buying up here Uh, where where if they get upended, where would be the first point to come back to you? What do you guys feel 25 26? Okay, why why alex? That's right poc That's the first point Okay, there's the poc of this little and and and doesn't have to it could be the poc in general It doesn't have to be uh, it can be it's just for this range here Okay, and where buyers took control here. Are they still going to be in control off the top of this range? Okay, so that's what we'd be looking for is to pull back to here Also, some of these little areas in here. This is a low volume node, but uh, uh, this is where they kind of broke out from So, yeah, I mean maybe 28, but also here 27 and a half and then looking to see if We get buyer support in there back to move on up higher to 40 All right, so Anyway, now let's go forward and let's take a look here. Okay, what happened? All right, so it came back down to about well just like alex had said And uh point of control Buyers came in and supported it Okay, we're not making this stuff up It's just uh, you know where the buyers and sellers are and and uh in previous You know significant transactions took place And we're back up and look look where the sellers came in here And we come back and retest here Actually, the looks like we retested. Let's just zoom vertically here. Looks like we retested the the kind of main uh, or you know kind of uh POC of that range right there right to it Okay, right to it And then uh, and then we see that uh sellers are back in here Okay, so uh, anyway, uh, if we got through that point of control then Then we'd be looking for and when we saw those sellers down here, we'd be looking for lower low Okay, likely below this this range for sure Uh, we'd be looking for that and then maybe down into some of these other ranges here other areas Yeah, yeah, great great alec great to hear. Let's see And uh, lots of youtube questions here, so hold on Let me get back to it, but thank you. Um Geez lots of questions in here. Um Leonard, uh, you kicked out that whole whole thing off and uh, that was a great it was a great review Uh and and starting to understand these clusters again. Look at look at the um, okay So this is pretty strong selling and pretty consistent selling in here But there's also kind of a weight down here as you can see See the see the kind of you know, just look at the bars and look at the dots Uh, and you can see it kind of weighted here Right, can you can everyone see that? Well, if I just take this across that's where we retested and bounced All right, so these guys are are basically, you know feeling the squeeze feeling the trap in here It's coming back to them and they they probably bought it back All right, that's the case. Do we get buyers here? Let's see. Let's see if we get buyers here again at 30 And then we're looking for top of the range 31 and three quarters 32 All right, as well as the the other thing that we were looking at in here, uh, which was um Very insightful as the heat map And it was this here That really helped us. I mean when you have these things aligned it's just it's trading is is Uh, or the follow through is is Seems much much higher Okay, where we are looking for it here. We're looking for it here looking for it here Just it kept rotating In fact, it kept it it even tested to where these guys broke out from And um, and then we're looking for it again But then once we started to see this oh, this looks good looking for our buyers looking for back up to the high looking for the breakout And then that played out pretty nicely All right up to areas of high liquidity up here around 35 all right, so that was uh Oh, let's say somewhere around 20. Let's just call it 27 on up to about 35 So it's a it's a nice little a point point s and p move there Uh, and and I think pretty pretty nicely telegraphed here in the order flow All right, so I'm sorry you guys let me get to more of these questions here Okay, alan you want to take a look at twitter? I don't know where twitter in detail Yesterday, uh, yeah, this is from rhythmic hosay. Uh, you can see it down here Okay, uh, and uh rhythmic is uh, you can get it from the book map marketplace. Uh, it is uh High quality data that offers a market by order data, which allows us to see Well with our indicator package Our mbo bundle. Let me show it. Let me just show you on the marketplace and let's just go there Yeah, okay, so here here at the mark book map marketplace You'll see it you'll see it in here rhythmic right here. You can get it $39. Um, it's from rhythmic not from us It's from the book map marketplace. These are for third party vendors Uh, and then you'll need to get this one. This one actually is from us, but we're a vendor in here as well So if that's what you want, um, you can get just rhythmic data You don't have to get the mbo, but if you want uh insight to the mbo bundle of indicators that give stops and icebergs then you will need it and um Here we can see that that relationship between stops and icebergs Okay on chart as well as on the sub chart here. All right, I answered that question. Um, let's see Okay Yeah, we still look at the NASDAQ 2 Clear as mud Ben really Is it really that unclear? The concepts are very simple What's my, uh, personal, uh, favorite setup? I mean, I really like the low volume pullback Uh, I like some of the patterns. I mean just I mean, I also like volume profile. Um I use a little bit of of the um a volume profile as well Um, but you know, I like to look at some of these patterns and and and just start to understand guys This is looking great again looking for 40 here looking for 40 um, and um And we have this this is where the the stops and icebergs can give you a really good feel Um, you know, we see 400 here basically Uh, they're on the bid. They're even buying at a higher area here Okay, and this is a pretty strong move here So looking for leg one a pullback maybe pull back all the way back down here to 34 again, which just unfolded Okay, and now I'm looking for buyers to support it So careful on this this could be this could be a move back down to 30 Uh here a false breakout Okay, see see how the the sellers are starting to build Some volume down here Okay, so we need to be kind of careful on this one Uh, this is a good move uh from like, you know 34 to 37 It's about three three s and p points On the volume is strong and good in here though Uh on on the breakout so this is in essence this too is a low volume pullback here Even though I don't really like it as a low volume pullback setup because I'm seeing a cluster of sellers down here Okay, now if the buyers can snatch it away quickly like they're like they're doing Okay, and this this is to be anticipated that they would snatch it away very quickly here Uh because that sets the hook Right just like in fishing or something Um these guys are on the hook now Uh and and it pulls away from them and now they're fearful Because if it comes back here You know, let's let's see if they start to buy again Okay, and then let's see if we get buyers up here at 35 and a half For a move back up to the high and then maybe 40 All right, so um, that's what um, uh, we would um Be looking at here for uh, that that hook that that's set here Okay, let's see if we get our buyers back up here and um Uh, Jose the the rhythmic is getting rhythmic is the data provider. They're getting it from the exchange Uh, the blue line down here is these are iceberg transactions. The red line is stops Okay, see see the hook see how see how like look where it came and and retested here Hey, just understanding this dynamic That we were looking we we we didn't like this as a low volume pullback because of the cluster down here Well, it's actually what's happening here now is They're they're trapped And the hook is set here Pull it away quickly on on big volume Okay, it's kind of shocking awe here. These people are like, oh no, what what am I going to do now? Right, and then a pullback that was the first barrage of buying The pullback comes back to close to them close to this area here This is so typical. You'll see it so many times over and over and over again Uh, and then likely some of these guys are going to be already creating They're going to be buyers down these but these sellers here are going to be buyers in here Uh, because at least it kind of came close to break even Okay, and if they didn't then this is them getting stopped out and here's our stop run here Okay, and we know that 71 Contracts here are stops and here's a dynamic between stops and icebergs as well Okay, there's icebergs on the other side here not a whole lot 75 or so it's not much for the s&p Okay, bidding up here. Okay, see see how again like pull away and this is what we saw We saw another example of this earlier of pull away and then Throw in a whole bunch of liquidity right underneath and it's one player here 500 probably around, you know 500 or so contracts maybe a bit less And now he's showing high demand at this at this low here or this kind of swing or where it broke out from So that means everyone else down below here is basically trapped and they're going to get squeezed and here's our squeeze unfolding right now Okay, up into high liquidity at 40 Okay, so we just went through It's actually pretty simple stuff But we're really starting to understand why price moves people on the hook Or more buyers come in and moving price away strong buying Moving it away from a previous value area establishing a new value area Etc So you can start to understand like The relationship here also larger players smaller players getting stopped out larger players absorbing As much as they can Okay, so this is an important area here at 40 because you can see the liquidity up here, uh, however, look at how there's some people front running here All right, so, uh, we may, um This might be We might get some back and forth in here now All right, so we're open to that because uh Uh And if that's the case then, you know, this is where you can use the order flow for trade management And you consider taking some profit here Uh, because look, there's high liquidity at a lower level here Okay, if they really thought it was going higher Why wouldn't they put it behind 40 and these guys would likely pull at 40 And then move it higher as well Jose like a direct, um, exchange. I mean you've got to go through this whole process with the for the data You know With with the fcms and and the inner Introducing brokers etc. This is how they disseminate the data And the brokerage services. So that's the way it's set up with futures Uh, so reach out to your broker, uh, or reach out to a broker and ask them about some of that But you can get the data, uh, right from that book map marketplace Directly from rhythmic or you can reach out to a broker and say do you offer rhythmic? I would like to use it And you'll get the details Yeah, you can trade right from book map ben no problem So, uh, in fact, uh, you can trade off of the chart or off of a dome Uh, it will work with ninja There are it is d appreciated, uh the connection with with uh with um Ninja but it but we we've connected for years to ninja Okay, the the the issue is that now you're going through another platform The data first goes into ninja And then it will spit it out into book map Okay, so we prefer it If you connect directly to the data provider instead of through another Another platform Okay Uh, techie girl Beautiful very easy to understand. Okay. Good. I mean these are these and now what I want to cover though like In you've been watching these recaps of prior days of of my streams on youtube and the weekends and highly recommend it Um, yeah, it makes you better prepared for that for the week. That's great. I mean like and now what you can see What I'm covering here, um is order flow in general And this is this is our education Uh, there are setups. There are different many different ways to trade But once you understand some of these concepts you can apply it to anything And that's why we're going over this Understand some of these concepts and if you want to you want to You know look at trend lines like we are here Uh, you and a little bit of volume profile as well a little bit You can look at candlesticks. We can go through candlesticks. Um, and and ranges We can go through, um Just order flow and and and price activity here With cvd only, you know, it doesn't really matter This is where, uh, once you start to understand some of these concepts, it's applicable to anything Uh, and that's why we're going over it. That's why I'm not trying to dodge the question Of different ways of trading Okay, because understand these things first in fact Stop reading books Stop looking at all these kind of crazy, um Or all these all these setups that we've all known for years About loco you look for the mac d cross over you get here you get in here, you know, whatever it might be um Instead understand some of these dynamics here with with really what's going on and what makes the market move Uh, that's going to be lacking from Uh, those other setups or or books, etc. And it's not because well, you know Maybe they want to just sell books, but It's just that they didn't have access to this kind of data before So I you know, I don't really blame them. Uh, they just didn't have it Like, you know, if you look at your market delta charts, this is what you're looking at You you you don't even have um It's it's more like Aggregated data on a candlestick and these volume dots that you see in here You don't even have the relationship between Uh, the structure and volume you're looking at a candlestick chart here Um, and you're looking at where the volume is trading. Let me just kind of try to mimic it here Uh, you're not even looking at you're just looking at current best bid and offer. That's it but you don't The relationship that you have is by numeric values on the volume dots Or I'm sorry with the volume here So what you're looking at Uh in a market delta chart Is Yeah, you might be looking at delta down here somewhere with the bars and the data But just all it does is aggregate the data all up and tell you the the delta Uh, and uh, and that's it and then here You'll see like and I like very much the way that Market delta and and footprint charts show you the volume of on the on the bid side and on the offer side And there is that context there. That's good. However, it's aggregated though in this case. It's a one minute chart Uh, and you will not see any sort of like a kind of relationship or pattern down here at all Uh, because you're just going to see it on this bar Uh, and then you're going to you're going to see the um You know the very precise, um Volume on this side and then also on this side here Okay, and that's good. It's not bad. This gives gives more insight here Uh, however Let's take a look at Where now let's not even go there. Um go here Uh and and best bid and offer Okay, and starting to understand the context of the volume within The way the price is behaving down here not by a bar, but by truly what's happening down here Okay sellers coming in sellers sellers a bit of selling here Pulls it away on the hook. We just covered that in a different area here here. It is again Sellers are trapped here And look at the pullbacks. It comes back and and just tests to them in this case It allows them a little bit of an out here Here nothing no out Here they're getting stopped out and we can verify it. We'll know for sure Here it is. Here's our stop run Okay, so once we start and it's even better here, you know our stop run Okay, but we can understand this dynamic here That's going to be a lot more insightful Uh and lead to these kinds of moves when you start to understand these things down here That can be used for anything. Let's suppose this is a low volume node down here Okay, it's not Uh, in fact, this is this is kind of indicative trending environment here Um, and and now we're through 40. Okay, we're looking for 40 as being a target uh earlier This was the fuel to help uh this move Higher and that's the concept in here Okay, so now let's let's look at um cvd If and and we can look at a setup for cvd in here Okay, well, here's here's a low It kind of an equal low here. What about cvd? That's a little bit lower low I mean a little bit of divergence not much Uh, yeah, not not not too much insight from cvd down here If we zoom in a little bit more, maybe we get a little bit better, uh insight Yeah, here's more selling Uh kind of making an equal low, but it's making a a higher low here Okay, well, that's another way to look at uh the divergence here for maybe trap volume And now I would assume as well that see the selling in here yet. They're unable to drop price So what do you what do you guys think is happening here? Okay, what's the dynamic here? Okay, we haven't put one element back on yet. Yep. I was thinking the same I'm so bad iceberg. But what else? To the moon Um, no, no, I mean we're looking for something here. There's sellers there But why why weren't they able to drop it lower? Icebergs is is is a good answer potentially Uh potential icebergs for sure Well, just let's just put the heat map on Okay, we should see some absorption in here and we don't we don't Okay, there there we I would look for someone on the bid down here To uh wanting wanting to buy uh at that at this area here at 34 and a quarter Here we don't see it. All right, so then if they're not Uh, they're absorbing and with limit buy orders, then I I'm looking for the iceberg And we don't we don't even see that Okay, that's interesting Um, well anyway, that would be the assumption because there's some pretty good selling here Yet they they failed to drop price And there's no selling down here none Oh, I'm sorry one just one measly contract down here And that's it and then it pulls away from that area All right point made. Let's move on Uh and uh You know we we we can take a look here Nice move into 40 and through it. They're on the bid here be care We want to be careful up here. Uh, we want to see how it's auctioning now up in this area here And what this price structure starts to look like Okay, this looks good strong buying Uh, not bad in here, but it's really starting to wane up here Okay, not as strong Not bad here not very strong up here Okay, now we might they might come up again here and then we might get it and we're gonna we'll get a breakout Okay back into 44 and 45 here All right, let's see if we get it now if we don't And we start to see sellers here at 42 and a half I'd be looking for them to drop it right back down to 41 and a half and then maybe 40 39 and 38 They would have to break the bottom range here And see that's the dynamic we're looking for right now Right in here Okay, let's see if we get our sellers here. Let's see if we get our trap set as well Now trap could be on either side here. In fact Sellers trying to trying trying to drop it lower. Uh, and then that now these guys are kind of trapped here And you'll see you see this dynamic back and forth in here Okay, or these buyers now are trapped there. Here's our sellers. Okay I'd be looking for them to try to drop it down to 41 and a half Or maybe lower here Okay, well, I got that wrong In fact, now they they could be on the hook here Right and then there's our stop run Okay, so yeah, they they were on the hook So, uh, yeah, I got caught up in that one Okay, looking for our sellers in here due to the volume here Yeah, okay, we're still still bullish still making a higher high still made a higher higher in here as well However, it's just not as much volume. I'm looking for the retest back down here And it had that potential here and this one, you know You can see what happened the hook was set for it by on these guys here And pulled away and then we see our stop run here All right, so Anyway, that's that's how that one unfolded And um Yeah, now now how do I mean like this is You know, so I got it wrong Uh, however, let's take a look at this and and and debrief what we just went through Well, first off, we're still making higher highs in here structurally and higher lows That matters Okay Then we also look about look look at within this structure where that volume is trading And and we noted like strong down here starting to wane here A strong kind of here but starting to wane up here even though it did make a higher high Starting to see some sellers come in Okay, get get back up here and We do make an equal do we make an equal or higher high in here Okay, we made a slightly higher high here I was thinking we get our trap set here by these these sellers coming in That's what I was looking for that scenario and you can see what happened. It was it's like a double trap here like Here's the bait. Here's the sellers now the buyers come in after these sellers come in and then they move it higher Anyway, the concepts are the same Now what would help us on this one here? Make this higher More likely that would be looking for the buy side Or the sell side One would be the heat map helping us now. We didn't get too much help here in the heat map And the heat map didn't really light up like earlier like it did for us underneath here And and they weren't really pulling here. They stayed in the book and transacted And then so that would be one thing another thing is if we did not make higher highs Okay, and higher lows In fact, if we kind of broke down below here and then made a lower high here a lower low and a lower high here Then we saw this and then sellers You know, we have more likelihood to come back down here again Uh, especially if we see the heat map help us out All right So we see that that not only is the structure kind of weak And we know that the the volume we were looking at here was kind of weak And we started to see a lot of sellers on on some of the swing lows and it made a lower low That would be really helpful In making this more likely to not only retest the bottom of the range but to break it All right make sense So here we go here Hey, here's our sellers making a lower low and a cluster here Okay, so a retest maybe back here now. I'd be looking for you know here here right back to here Okay, and let's see if now let's see if we get just we're just looking for a pull back here And maybe back up to about 40 Maybe maybe 45 and a half here Uh, the ones that are on the hook are up here. Okay, the cluster is up here There's there's it's kind of a little bit of a range in here Another thing to use you can also use your cv cvp column here. Let's do this uh, and um Right click in it go to configure And then we'll we'll choose delta here and you can also see the trap volume. So here it is up here right So where are those guys going to get stopped out likely down in this area here? So we'd be looking for that scenario Probably down in this range here Okay, first stop is point of control right in here And then let's see if they can even get through point of control on more selling back down to the low Or swing lows here and we're looking for a stop run here to the downside Okay, a small pull back lack of buying here looking for sellers again down here Here they come And let's see our move Okay, we should be getting our stop run here pretty soon A little bit lower would be good right around here 40 Uh 40 and a half. I guess Yeah, we're still looking for 40 and a half here All right, let me get back to youtube Yeah, sure. Robert you can set an alert no problem Ben, uh, how does what what do you how do you usually trade? What what kind of strategies do you use? What kind of setups do you use? uh The question is Ben is asking about what what do you recommend for someone starting with book map? All right, William, you want to take a look at bitcoin or ethereum? We can do that Uh, there's no dark pools in uh in futures. Um, oh, yeah, okay. I see ben you're at you're answering that. Yeah Um, but you can see them in stocks Uh in book map You need mb bo data national best bid and offer for that Okay, do we get our stop run? We didn't even we didn't even get it. We got down below here and we didn't get it I'm kind of surprised by that All right, so let's see if we get some buying off of this low volume node in here Which what is what is the a a better term? of This area right here and a low volume node To understand kind of terminology for order flow All right in your opinion. I mean like this is you know all up for um In between distributions. Yeah, but uh, yeah in between distributions. I mean basically it means rejection Price rejected that area It didn't it didn't auction in that area And that's why it's a low volume node Uh sorenson, uh, I went through in detail some of the uh, uh, clustering Or understanding the volume uh in some of those areas is I don't know if that uh, If I answer your questions there if you had still had more Let me know What are bergs considered though? Uh, isn't it the same as darkpool? No, no to completely different thing alex Uh an iceberg is it is like basically kind of over-the-counter um Transaction, uh, it is recorded uh in the uh in the exchanges, but it was not Uh In in it was not in the order book. It was not in the auction Uh the transaction was recorded and that's why you'll see like Well, here's best bid and offer. Let's see if we can find one. Um, here's best bid and offer here But you'll see the transaction just you know on on a Potentially could could happen anywhere it might happen way up here a huge huge transaction like one million shares Will will transact up here You know something like that or you know several thousands at least Yeah, very very different And that's not possible in the uh in the s&p s&p, I mean the the cme or the futures are great. I mean they're very very uh transparent And um And and more accurate in that in that regard Okay, and for those of you iceberg order is a hidden order. It's not really in the order But look at this buying coming in my god ton of buying here So there's our rejection it even went a little bit lower here, uh, and the buyers come in Um pretty strong So yeah, let's let's get back up into These sellers here. So we didn't even get a stopper in here. So what what what do you what do you guys think like In this kind of order flow in this structure in here, uh, the question is Um What what do you think are there are there still buyers in here or are Are the buyers all gone? Still buyers still there exactly. We're just not seeing we're not seeing a stop run yet Stop runs are happening to the upside still So they're still in it Okay, so that's another thing to take a look for I mean we were anticipating that stop run right around in this area here And we didn't get it In fact, it came all the way down here where this buying kind of cluster big buying cluster kind of uh began Uh, I thought we'd see some rejection here, uh, and then the move higher Instead that was more like the the kind of setting the trap here Again, and here's here's kind of why and we see this we can see the stop run up here Uh, here's kind of why Here's our cluster and then look at the pullback Okay These guys are on the hook Right, and then we can verify that though here because here's the stop run and here's the stop run So and that I mean I'm still assuming that these guys are on the hook I mean there there's a stop run for them to kind of dribbling away here But like they're kind of on the hook, but look at the pullback though and then verifying it with a stop run on the other side So anyway kind of again reviewing it just is such an important point and I think we covered it pretty nicely yesterday Looking at your range bound trades Even trend trades And you know, you can you can look for if you see that strong consistent buying that is usually the initial move Or a strong consistent selling here Okay, so now look at they're letting these guys out here All right, well, let's see. Do we get more sellers down here? Then we're looking for the move lower It we're looking for Yeah, this liquidity here. We're already pulling so the next one here is 36. Okay, and then after that 34 Okay, we should start to see some stops triggered here below this swing here They're still kind of in it, but this should start to to hit the bot, you know to the downside here Okay, maybe they need to get down to this one here Anyway, what I was covering here are the different ranges Okay, so let's just let's go through it And just do a little drawing over here All right, so in your range bound trade, it could be trending too. We'll go through two different examples Okay here we use oval if we get our big volume cluster up here Right there. They're kind of on the hook If we see consistent volume Big volume all the way through we're looking for this is a low volume pullback and continuation Okay, if and and but if we just get the volume up here Hey, especially on maybe a breakout like maybe just another cluster and just slightly breaks it here Okay, then we're looking for coming down and testing below that swing here and another volume cluster down here And then these guys watch You know and see if they get on the hook as well and we get more volume up here Okay, again, and they're just bashing each other up along the way Okay, that's that's a scenario here in range bound trading It's just one and you know because uh, most of the time to be honest in the range bound trade what you're getting Is is the opposite is is but look for this because then you can look for the move back into point of control and then through it You know you look for the move back to the point of control and then maybe the other side of the range And and that's what to look for you know or one of the things to look for Uh, typically what you see in the in the range bound trade The range bound activity and this makes you know, perfect sense Uh is you get exhaustion You don't get much selling or buying up here Okay, uh instead you'll see that the the big transactions in here And then maybe you know smaller ones up here uh, and then uh, you know traders come back into the range just starts to trade uh, and Not much down here Okay, we kind of exhaust out And then you'll start to see you know The back and forth and and and that's how you get like the your your shape Uh in your profile Okay, because most of it's trading right in the middle Uh and it's exhausting out at some of these areas here and that's how you get your bell shape curve profile All right is up here like there's just not much interest in taking it higher or or it's too expensive for people Down here, uh, it's um, it's a buy Down here, uh, but sellers aren't willing to take it, uh lower All right, they think that it's um Not not worth it All right, now this whole thing though can be upended as well and we can look at the trending environment Um, and you can look at it like this Let's see if I got a little bit of space Yeah, we can go back here uh in our trend You can get the uh order flow now we're just talking right now not about the order book, but just about the traded volume Uh, let's let's suppose you get that strong initial move down here somewhere big strong volume moving this higher okay, and then uh Then it maybe maybe some exhaustion on this one Maybe it just kind of peters out and it kind of trades back down here again, uh, but then uh, maybe we get uh You know not too much interest here, but it we get a stop run Uh, and we get uh a cluster up here right And you know a lot of stops triggered or a lot of breakout traders And then we get a pullback here and this is the your low volume pullback Okay, you'll see some transactions in here, but you'll see exhaust out here. There's no interest. In fact, it comes to where Those guys were on the hook here basically a lot of times and then uh, uh, and then instead you like you'll you'll you'll see um Yeah, not maybe not too much and then back up above this area here your buyers pick up And then up again, uh, and up in that area here a cluster So what you see in the trends and when you can see it in today's action Uh, let's just get clear all of these drawings. Um is at higher highs. You see more volume typically Okay Here it is you know, I mean More volume here not too much more volume here not too much more volume in here A little bit, uh, not too much more volume up in here All right, so uh, you'll you'll see it time and again So understanding these clusters of volume in here, uh, can um And understanding the order flow, uh, can be really really helpful. Now. That's just the transactions Okay, well, we're were they on the bid in here and or on the offer in here where they're getting filled how much That's where you're going to start to really understand some of the details in here because if there's a lot of liquidity in here Uh, and they can't get through that area or you start to see a lot of icebergs Maybe they're still buying pressure. Maybe they can still go a bit higher, but it starts to, um Uh wane and and and wane because there's just there's more sellers with limit cell orders and more icebergs Then there are uh buyers up in those areas Okay, and that's how you get some of these patterns like head and shoulders Double tops, etc. All right, so now that can all be applied to volume profile trading or patterns Plus your indicators if you want, you know price action and indicators I know a lot of traders are into that. I I'm not really I I just like the Using these same order flow concepts on on all timeframes Uh You know, and we haven't even looked at our higher time frame here Okay, well here it is Here's the daily Okay, so here's a move back up to kind of the top of this range and we see a wick up here on the daily And we're coming up toward it. This is a strong move here On this daily, so I'm looking for them to try to trade up here Uh, this is what 52 and a half or so is what I'm showing Somewhere around there, and then here it is here. Here's the swing Right, and this is where we saw rejection and sellers Hey, but this is look at how strong this is so looking for it to still continue on up into our um 52 and a half or so Yeah, here's our five minute. We're gonna look at a 15 minute Uh, and uh, same I same concept here Okay, and here's our range and our breakout beautiful stuff Uh, where do we find? Uh Buyers before Well look at some of these wicks Hey, there's actually nothing down here. I'm surprised that they didn't buy off of here I guess they kind of did it just went a little bit lower Um, we're seeing our wicks down here though And we're seeing a wick up here, but you know this move could come all the way This could be a multi-day move. Uh, it could come up into 45 11 or 12. It's possible Okay, where did it drop front up here? And then the wicks are up here Okay, so like kind of 44 95 on up to about 45 14 or so All right, and there's our higher time frame analysis. All right, so let's see here More questions Uh, is it overbought? Um, I'm not not sure what what um, you're talking about tom Like is this overbought? I mean you can remain overbought. That doesn't matter Uh indicator wise. Yeah, I guess it was At least it went higher and that made sense Uh, here's the pullback though, but look at the selling. Okay, there's a divergence there Okay, I forget which ones are negative and positive divergences, but whatever I mean, all you all you need to know is the divergence. You don't need to You know the definition doesn't really Doesn't really matter in my opinion. Um You know, we made here's here's a swing here and that was that was this low over here Okay, and here is the the move here now. There's more selling according to cvd Even more selling. Okay made a lower low here But it made a higher low in here Compared to this one So there's our diversions. So what does that mean? Uh in here What do you guys think? What do you think about all of this selling in here? Okay, so a lot of selling but it's it's not really quite quite making the market go lower All right. Well, that would be likely You should see some absorption in here and we see a little bit Okay, but more sellers here Okay, but prices has not made the the lower low it but below this swing here Yeah, that's great. Tom. Yeah, I mean you can really get a feel for the trading How do you read the stops on icebergs? Yeah, let's take cvd off And you know just more insight to the type of traders And also on the chart here. You can see precisely where they're trading And the whole evolution of it as well. So, um, yeah, how to how to read it or how to use it Well, I mean first off like it depends like you'll see scott. He trades it or uses it very differently He's got specific setups based on a certain amount that has transacted And I'm just looking at it kind of in a bigger picture and I'm looking at Even the the output here you can see that the axes do not align But that's okay. I just need to see the context between the two So there's a lot of iceberg selling in here now And and and people got stopped out up here Okay, so now the way the way that we have for all indicators Is to Use them as a confluence And not a signal so we're looking at this area in here And we see there's a lot of iceberg selling from here on down. Let's see. This was uh Uh 2472 uh, so you know down to um So so around six seven hundred uh in here a iceberg selling All right. Well, that's starting to be pretty significant So maybe a lot of profit taking And uh, what about the relationship? What about stops? Well, we were covering that one We were anticipating stops in these areas here and we didn't really get it So buyers are still in it. So you know if so we're still bullish even in confront confront of These 700 icebergs here Okay, so here come our buyers here. Let's see if they can lift it now top of the range here to this previous cluster here 45 44 25 and a quarter Okay, and this is pretty good. So I'm looking for them to try to continue actually 46 See the see the strong consistent buying that we're talking about and then they're on the bid here as well at a higher level So looking for it to continue There we go We're already through 46 looking still for it to continue Hey up to 50 we're looking for 50 Hey, see see how we can read the the the buying in here And we're getting another nice beautiful stop run here Okay, now we came up and made an equal high here And we're getting a bit of a pullback Okay, first pullback to the cluster. There it is Second pullback to where it broke from here at 44 There it is It could even come a little lower. See where the buying came in here at 43 Let's keep an eye out for it. We're almost there Okay, careful here now now You can see we're looking for that low volume pullback and You know we can see some of the dots and some of the bars in here It's not quite the low volume We'd like to see a lot less selling in here For it to be it's still lower than than the buying in here. That's for sure In fact, we can look at cvd Yeah So yeah, we're still we're still looking to see if we can get our buyers in here But the the problem is and we we covered this last week or maybe a couple weeks ago Low volume pullback or not if they're selling down here They can move this lower and then it would be kind of like a trap here And we can see a nice move lower and if this is actually the point of control now it just moved up From where it was previously and now if they can get through point of control back down into maybe 40 or or lower Okay, so it's bouncing off of point of control at the moment All right, and if we can get some buyers up here 43 and a quarter I'd be looking for it back up to here in this liquidity here at 46 Okay, here we go. Let's see if we get our buyers here And let's see if we get the order book to help out as well here And try to push this and see these guys see they're kind of lined up in the blue area in here They're kind of lined up on the offer. We don't want to see that we want to see this as being pulled We want to see it kind of dark in here and we want to see the bid light up instead Okay, and then we get our our green dots in here, you know, we've we've got something then It's it's it's easy for those buyers to to trade up to 46 And not not playing out not playing out at all Okay, so This is where we had, you know, we mentioned it like You have to be we have to be kind of careful down here Uh where it broke out from Now we're starting to see some stops here It's but it's these buyers Let's see if we get another hook here Okay, here's our trap volume cluster at the low Okay, the hook would be set if buyers can get back up above 43 here I mean basically above point of control, but I want to see them pull away from point of control here And they're not Not sellers are taking it lower Okay, tom you're bearish on this Yeah, I'm not so sure yet Yeah, I mean they're they're sellers are coming in still kind of looking to see if we can get back up here and and and uh Above point of control and see some buyers up here I mean basically it tested kind of you know A little bit a little bit below the range here or below the swing here, but you can see the big cluster here And here's our rejection our low volume node And we are at the end of the European session here So a little little volatility around this time Okay, look look for our hook here. Let's see All right buyers. There they are. Okay buyers. Let's see. Let's see you try to move it now up to 44 and then 46 Okay, we got the the order book helping us out. We've got our buyers here. We've got the hook set Uh looking for the squeeze And we can even pull back, you know to here 41 and a half Okay, there's 44 still looking for 46 all right, well, anyway think uh Made that point pretty pretty nicely about this hook. We've seen a pretty good a few nice little examples Uh, let's let's take a look at some of these other, um Instruments here, uh someone wanted to take a look at gold Let me take a quick look at gold. All right. Well, who's in control here and why? What do you guys think what what if just looking at this we're even like bring the heat map down Who's in control and where? Yeah sellers Okay, leo. Yeah, so you're looking at not just volume profile, but also, uh Market profile with your tpo's Time and acceptance, etc um Yeah sellers here Moved it away quickly sellers here also sellers up here Okay, I don't see it coming back at all um Right now In fact looking for sellers here again drop it into 1950 maybe lower Yeah, good liquidity down here. All right, and let's take a look at our bitcoin We're gonna look at the bitcoin for uh, hold on a minute here Our multi book product here. Here we go Okay, this is five different exchanges in here and you know, you you'll see the same ideas here same concepts on on All all instruments basically Uh, especially bitcoin like you'll you'll see these really strong moves and then just really kind of peters out And then it comes all the way back down and then to the other side As well You know, don't be duped by it. Um, you know when you start to see that kind of waning Um volume uh up in these areas in here You know, you you're going to get some sellers take it back down into some of these areas So look for it now. This is not doing it actually there's it's pretty strong and consistent buying all the way through A little bit of waning up here just less buying, but then they came back and bought up here again Okay, so now they're on the hook here basically Because if these buyers failed to to make a new high or slightly higher high But it did auction up here. So let's see. Do we get sellers down here? And are they going to try to get a squeeze going? Back down into oh, I don't know. I mean our our high volume node or liquidity down here at 41 350 looks like look at our choppy or algorithmically dominated this market is here and you know this All sorts of players in here very short term high liquidity Scattered all over the place Okay, you can filter for the heat map right click on it and filter it We don't we don't need to look at all of that if we don't want to Just look at the higher longer term liquidity And this should be a little more helpful Out like your eyes hurt. Yeah. Yeah, I mean It's just these are very I mean you'll see the same order flow phenomenon again and again. It's just like I said though like You know each market is different And It makes sense. I mean start to understand the players start to understand the timing they're like You know these these markets kind of follow the the stock indexes and some of the timings there But they're open 24 7 all all the time So leo with your double distribution and and tpo's etc And and looking for your 44 50 target. That's great. I mean you have very specific target. You know what you're looking for Etc That's that's fantastic Just You know, this is where the order flow can help you It will confirm those ideas From your market profile Or or or not confirm them You know if uh if it doesn't look good You know, maybe you had that idea well 44 50 is the the You know the the target here, but uh, uh, you know, you're just not seeing the buyers up in these areas in here Okay, and you're starting to see clusters of selling coming in etc. Then you know, that can that can be really helpful you dirtess, um Yeah stream is full um, but um Uh, you can go to youtube YouTube is uh unlimited. All right, so we're at our european close here guys How about a therium? Look at a therium my god Even more so Look at this algo activity in here I mean look at this crazy stuff And see see all this these algos pull from one and add to the next All right, where's up here pulled added down here pulled added up here I mean, this is a couple different players in here And look at these notches how they just perfectly align even down here You'll you'll even see this align on the other side Let's see So, you know, they're just they're just uh Following in in queuing themselves here. Yeah, I don't see it right now A lot of times those notches will match up on the other side All right Oh, we dear to say I mean you can always go over to youtube. Uh, no problem It looks like uh, some other people are are saying uh, keep trying to get in and some people leave and you you'll get a spot waterbrook Consolidation or a pull back to the area of 44 430 area Let's see 44 Oh, okay. Yeah, leo. You're talking about s and p Yeah, maybe I'm still with you on this. I mean 50 is right here. I mean, this is very typical though You know, it kind of comes shy of these big big numbers Uh, you'll see a lot of profit taking you'll see people front running these areas in here You'll see it have to come all the way back down here get some sellers and then come all the way back up and you know hours later It'll trade up here. Uh, but yeah, I hear you, uh, leo Um, and it order flow wise here. There's no reason to believe that it won't trade 50 at this time Uh In the bigger picture here because we still see buyers Uh, more buyers higher highs higher lows in here Slightly lower low in here, but you know, we're still back up here and it's still auctioning on the buy side So, you know, uh, still looking for 50 to transact Uh, we've got the european clothes We've got a whole bunch of kind of stuff going on here at the moment Um, now we don't want to lose picture our site of our bigger picture As well, we're going to start to see a slowdown up here We're going to start to see sellers up here, uh, the daily wicks the hourly wicks here You know, so that makes pretty good sense But the momentum has been strong and it's still a green green candle up here So we're we're still, you know looking for this to kind of inch higher Uh back up into these areas here You're having a great day so far Excellent leo Right excellent All right guys, well, uh, let's uh, let's wrap it up here. Um, we tom b is back So don't forget to tune in to tom b He'll start shortly You know usually between 11 30 and 12, um, you know somewhere somewhere around there And uh leo like he's going to go through exclusively The way that he trades with volume profile and Market profile All right, so uh for those of you who want to stay on it's going to be just the s and p but uh, uh, you know get get a lot of insight for That tom has a lot of experience So you'll get a lot of insight from The way that he looks at the market specifically for Uh the volume uh and market profile, okay All right guys, thanks for coming everybody and we will catch up with you, uh tomorrow I'll I'll go over the s and p for about 10 or 15 minutes before j trader comes in and then we'll look at some stocks with j trader and and and do some live trading Okay. Yeah, thanks for coming everybody Bye. Bye