 Good morning traders and welcome to the book map advanced webinar. This is Bruce at book map Welcome to the book map advanced webinar. This is Bruce at book All right, so what we do in this webinar is we go through Live analysis forward-looking. It's not hindsight. This is our education It's based off our educational course And we do this Monday Tuesday and Friday at 10 a.m We have live trading With the idea here that you follow up with the educational course with the live analysis ask questions And this can be applied to any type of order flow or Applying order flow to any type of trading and then we have two different Traders here are very specific styles and the way that they trade stocks and futures. All right So J trader trading live stocks and then scuffle senior futures Wednesday and Thursday All right, so let's go through the disclosure and then jump right in 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 a chance for risk of loss It is not suitable for all investors past performance is not necessarily indicative of future results. Okay, let's jump in Let's take a look here We'll jump over to the ES. I've got the ES U or September contract up as well as the December. It was probably gonna roll today I Imagine I don't know which one you guys prefer looking at Maybe maybe go with the Z contract. I don't know They both look good to me So I guess we can go with the Z contract here So just note that because the pricing is gonna look different Okay, let's make the dot size a little bit lower here. Okay. All right Good morning RG a new subscriber with a weekend fantastic Okay, yeah questions bring them on This is great. How do you know in advance when price is going to break resistance? Okay, so let me describe what you're what you're looking at in here in bookmap. This is just a quick We'll go do a quick overview and and how to read this and Really one of the one of the beauties of bookmap is a good morning everybody over in discord Good to see you guys So the one of the beauties here in bookmap is this is very simple and straightforward data Okay, this is this is not some sort of like You know whiz bang indicator or anything. It's actually pretty pretty blunt data and that is actually the beauty of this So we're not trying to disguise it with some sort of derivative of time price or volume or anything So you're just looking at three elements on this bookmap chart. Okay, very simple very straightforward One is the heat map. In fact, let's let's just turn it off one at a time here And turn off the volume dots and bars and we're just looking and we'll even close up the indicator panel Here we are just looking at price action. It is best bid and offer streaming over time The beauty of this is that You see all of the movements here in price Okay, see how like a it came up to the top of this little range and kind of Very quick move here and it kind of slowed down at the top of the range and then it broke out, right? And then you can see it retesting here here here a little bit lower here And then it went back up to the top of the range if I overlay even a one-minute candlestick chart on here Okay, this is a five minute, but let's go to a one minute If we overlay even a one-minute chart here, you do not see those details in here You cannot see them because it's aggregated data within a period So just off the bat looking at this you're getting a lot more transparency just by looking at streaming price All right, so there is no time frame here. It's just streaming price action Okay, so in fact, let's take the candle off And those little nuances in here make a big difference Like coming up here and rejecting Maybe we don't get enough buyers up here. This is where we turn on the second element on the book map chart Okay, we are getting buyers up here. We are trending higher. We're making higher high So let's see if the buyers can now break it here Okay, so we they just kind of uh some buying here and then it's just exhausting out So probably one more test down here. Uh, maybe down the bottom of the range. We'll see Yeah, quick move there, okay Uh retesting down here. Now, let's see if we get buyers. That's a lot of selling Okay, this is this is this is a perfect example Look at the context here. That's a lot of selling compared to over here Even this buying in here. This is more selling here All right Okay, so our sellers shifting the market at this point Right, we're we're kind of looking for this breakout here, uh potentially And then we thought well, no it's starting to exhaust out right in here right in here before this move took place And then starting to think well, maybe they'll come down and test the bottom of the range And see if maybe the buyers try to come back one more time But now see what the second element here On this book map chart is that context here. We understand there's sellers here Okay, pretty big selling Right now, let's see if they try to take control of this market At this point or not. So this is where we'll you'll see how we we'll go through this process and understand That sellers took control here for this very small time frame Okay, I mean buyers are still in control in the bigger picture here But in this very small time frame sellers just took control Okay, now they might get upended by buyers, but We won't get into the details in here. We'll go we'll go through this this process in here But I'm just I'm going over what book map is showing And understand this context now between price action and the nuances and the volume within those That price action Okay, that's going to give you a lot of insight just alone This is going to give you a lot of insight more than than your market delta charts Because that's still going to be an aggregated bar of data It will show you very precisely where the volume is trading and how much We have a graphical representation of it. Okay, so anyway Just two elements here and already getting a lot of information or a lot of context of what's going on in this market Okay, see how the buyers are see that buyers above where they dropped it here All right, so if we're going to upend these sellers, they got to get back up here on some size and they got to break the high And so we'll see if they they try again here so So there we have just two elements, right and we're just with the they're very very simple The red dot is a market sell order hitting the bid the green dot is a market buy order lifting the offer All right, and I know for everyone a lot of guys on here Uh, uh, you know, you're you're looking at this and you already know all this This is just a quick review But we're going over the live order flow as well. All right, so uh now Where's the other side of the trade though? Okay, what is the context there? That's where the heat map comes in. Let's put it on the chart Okay So this is a period of rollover right now It's kind of difficult to read that the um the heat map in here because There's different players doing different things in here. They're rolling from one contract to the next Okay, so what you'll see this kind of uh, uh activity in the order book Uh, it can be very tricky sometimes if we zoom out though, um, we can look at the bigger picture here bigger picture Is there's high liquidity up here and we're just going to go through the facts Okay, then we'll get then we'll get into uh, rg was just go through the facts here What it is and then we'll go through how to read it. All right So high liquidity on the offer up here. Okay limit sell orders We trade into them and through them and they also flip Uh, they they were on the offer now. They're on the bid Okay above 41 20 and we see also at 25 here quite a bit Up here uh at 41 40 quite a bit of liquidity as well All right, so we know where the sellers are. They're up here. We know where the buyers are. They're down here All right, so uh now when we get into the context of the heat map as well Uh, it's not that it's going to hit these areas and then bounce or whatever. It's the context. What is who's Got more, uh Power here or potential How does the heat map or you know in an auction think of this as an auction And think of this. Uh, these are these are players down here bidding And if there's a lot of people bidding what happens to price? That's what the context. We want to read Maybe sellers want to deal with these guys Uh, or maybe they don't maybe it repels. They're they're kind of chasing And price keeps on going away and they keep chasing All right, that's the context. We want to read here Uh, and and uh rg um, let me show you where the, um Uh Go to our youtube page here And then scroll down here go to bonus materials here and go to um Uh, order flow or i'm sorry book map educational course click here Okay, this will bring up our four-part educational course Start with parts one and two All right, this will go through what book map is showing And how to read this context and we're going to do it again and again and again Okay, understanding who's in control who's moving this market Uh, and um, uh, where that might uh, we see also the pivots, uh, or disruptions in that, um Price movement, okay All right So let me see here You watched all four of them already excellent. Okay All right, let me get to more questions in here. Okay, you're looking at the 6b Poor you Yeah, we can take a quick look 6b rhythmic cme I haven't looked at the 6b in a long time Uh, I don't know if it's rolled as well sometimes they roll slower Um, but uh, let's put it in and let's let's take a look here. Yeah Yeah, I don't think this one's quite ready yet and let's try the uh U contract Yeah, they both look pretty bad. Yeah, so this liquidity traded All right, so very high liquidity in here and look the transactions took place Okay, so right in here you can see it trading right into it You can see in here Trading right into it. All right 203 contracts right there All right, so uh, yeah, yeah, that's uh now this is the context though You know who won this battle here or it's not really a battle. It's just these are limit sell orders They wanted to be sellers. They got what they wanted. There's just more aggressive buyers Okay, green dots are market buy orders and the size of it shows how much Okay, where were they able to move it? They were able to move price to the top of the range here Okay, so it gives us some insight to that. Uh, we're above the 117 figure here Okay, just just above it by a little bit here by a few pips Okay, so uh, uh, anyway, that's uh, that's the context here, right? So it looks like we might get a retest back down to here this 91 Area and let's see what happens if we if that once we get down here, right? So let's just take a look here, right? So right now look at them on the offer Now the question is is see see the question here It going through this process is do we see sellers come in there? There's a lot on the offer here But do we see sellers the reaction it price went down a bit. We don't see a lot of selling now Okay, so I looking at that context unless we come back down here and see sellers at 117 They are they seem to be buying above 117 and we just saw them trade into it Okay, great. Now can they trade up to these guys here at uh, oh five Okay, and then up to here at nine to ten Okay, because there seems to be more buying Pressure by the aggressors than there is limit sell orders to absorb all of that buying pressure right now Okay, that's the context that we're looking at at the moment Right, so that's kind of how to read and and start to understand appetite of some of these uh traders in here How much do they really want? These these limit sell orders here Okay stops and icebergs are on the chart here Oh, okay, so you want to see it down here got you. Yeah, we also have the hero indicator here guys Okay, so here's our I I hate to miss this because we're here for the live analysis and and for reading these moves Uh, and uh, you know, we saw the we saw the in here that that selling come in This is where those and we saw them being tested a few times in here But look who won that there's no question, right? We're going higher and We just saw some selling coming in here. They're being stopped out. It looks like here with the red line and Yeah, maybe we'll get a kind of let's see if we can get a bounce maybe off of this 34 75 here And again looking for more buyers here And to trade it back up into like this 38 and in 39 40 area here Okay, liquidity's up here at 40 We don't know if buyers are going to break through or not um rg, but uh, uh, you can you can start to look for it like, uh Like we were just covering here in that 6b That there was more buying pressure not this one Right. It was the u-contract. Yeah Yeah, we don't know but it this is where we we have to read it in here and get a feel for it Right that they wow they traded into this Okay, did they trade through? Yeah a little bit, but they pulled back immediately here It's possible if you see a lot of sellers like a big red dot It's possible for them to take it down They didn't There was more buyers back up above when we we test up into these higher levels of liquidity. Okay here We were even reading it in here. We're looking at do we see a lot of sellers? We didn't right so now we're starting to see a bit here and there's some exhaustion there on the buy side But let's see if we can get back up here to this o2 and get more buyers here if we do Okay enough. Okay kind of a green dot about that size if we do I think we can come up and trade o5 All right, it's exhausting out right now. There's no transactions here whatsoever Uh in this little area here Okay, there's actually a few sellers down here Okay, but looking let's see if we get them. Let's see if we get our buyers up here at o2 Okay, and then let's see if they can go for o5 All right, so anyway, that this is the the process You know one way to look at it and read it here Um by looking at the the liquidity and and the the context between the aggressors in here Okay I mean the other times it it hits you over the head like if there's just a ton of buying in here They're going to trade into it and through it most likely most likely but we need to see that unfold here Okay, so if you see for example a lot of buyers come in after maybe you know sellers get trapped down here Um You know and this is kind of at a bottom of range you can look for them to trade up into and test This area here So, you know there now you were starting to get into trading strategies trading to that liquidity Okay, so it's one thing to consider and look into and study You know So for example, let's say you're a range bound trader Maybe your volume profile trader for example bottom of the range You're looking at your profile. You see those buyers come in look for them to trade it back to the middle You've got a beautiful target here with high liquidity All right Now if they can get if this let's suppose this is a point of control in here Okay, and is it? Yeah, it is even before those transactions All right, at least you know for the data I have in here So if there's buying above this little area in here Okay, well that means price potential price exploration to the upside Uh, maybe up into our 10 level that we talked about Before okay Oh, we just got there Oh, yeah. Yeah, we we were there and then we're looking for this. Yeah Exactly. Okay. So we got up here and then we're looking for this in here We're looking to see them try to retest it back up there Okay Yeah, jack me nimble exactly it well If you can read the context well enough, it's like you're you know, you're pretty sure You can be that's the beauty of it is that you can be A lot more sure That price will trade or test in area now. We never know that We never know that Um, but uh, you know, all of a sudden someone come might come in and just totally disrupt the game And we've seen that so many times larger player comes in and throws in just tons of liquidity Or maybe it's some sort of algo that just shoots price down very very quickly Uh, and you know our whole, uh, idea, uh is is you know thrown thrown out the window now Here we are the the the 6b here. Look at them trading see Going for 10 looking for 10 All right looking for 10 Right higher probability. We're going to go to 10 now because we see the buyers starting to come in here anyway Let's continue on um, and yeah, I don't like Rg get really good at reading this context. It's don't don't think that uh, some sort of like, you know Green light red light system It's all probabilities And it's it's all about reading this context in here. So for example, look at it. See how they're kind of on the bid underneath here That's good See how this guy is staying in the book here Usually when we come up here, they start to pull he actually did pull a little bit in here because the heat map changed Right From orange to yellow Okay, so now we can read that context is this guy really want to be a seller up here And so far so good. He's pretty much, you know, staying in the book here 195 contracts All right, so um, uh, yeah, it looks like he wants to be a seller Yeah, chicago, um I agree that I mean the liquidity is very very different During rollover, uh, and it makes it a lot harder to read Guys, I'm just gonna I'm gonna close the the es here for the u-contract if that's okay. Good morning, rob Bert you it is probably the rollover, um, that you see the difference in price I'm sure Guys, you can get really good at spread trading during rollover as well. I mean, there's all sorts of things to do So many different different ways to trade. All right, I'm gonna close that up and we're on to the z Yeah, uh, let's see here the the six, um B i'm gonna close that one Yeah, I mean we need we need to see if they're gonna absorb it or not Right like right now you can see that look look what happened to our buyers looking pretty good in here And then just you know completely kind of fizzled up here And we just see some back and forth right now But you know, we're reading in here. We had the buyers Okay, uh, we had the the bid underneath here, which is this is another thing we look for Uh, and they're even adding more in here And they just can't can't seem to get buyers interested again to get them up to 10 Okay, so we rotate all the way back down to where we were previously now I would look for a bounce off of here Uh, and see if like this is kind of the retest Uh, here's why This is not a really good example, but you know, this is where we're seeing our Buyers in here here here You know here right lifting it. So this would be here our line Retest back to it and let's see if we get buyers again to come in So we're looking for buyers here at 05 right now Okay, this is one of the things about I'm you know, I'm not not the biggest fan of the currencies. Um But They they take a while that's large a lot of larger players in here that are You know using this as the way they should be for for hedging So we got up a tick here, but we now we see some some sellers up here So anyway, maybe some back and forth at the moment we get buyers up here at 06 05 06 and then I'm looking for 10 Okay, bid's pretty good again here. So this is a pullback. All right Let's move over to the s and p and see what's going on Uh, the 6b is the uh, the british pound Uh e-mini contract Okay, pound dollar How does it relate? Oh god, um, well, you know, it's dollar uh, dollar based uh, so You know and uh, the dollar's been super super strong lately So and it had they all relate they all relate So, you know, you know, for example, I I I do like looking at the 6e Um, which is you know, the most most traded is the euro dollar Uh, and then how does that relate to stock indexes? For example Okay, matt. I mean, uh, correlations is such a great way. I I I think, uh, you know, I I personally really like it Look at correlated markets to see what's moving Uh, and that also can give you a lot of insight to what's going on Okay, because all of these things are related Your interest rate, uh, products your, um, currency products Your stock indexes your individual stocks that we have here Can be leading indicators uh in here Okay, so well anyway, we're still we're still bullish until we see something different here, uh In the es now, um Let's see here We might they might just be coming in here retest right back down here To the bottom of this range or top of this range in here All right, so let's look for that This is what i'm looking for If the sellers can drop it into about here That would be about, uh, 31 and a half or so Okay, so All right, and let's let's take a look here now I just want to i'm going to mention this I think and then we'll come back and revisit this Um, we'll talk about distribution and accumulation. Uh, this would be more like distribution Uh, we have buyers coming in and we have a lot of selling in here, too Okay, buyers up here some sellers in here sellers in here Uh, it looks like there's more buyers and sellers in general Uh, we can put this within our chart range here Okay, there we go Uh, we can look at our imbalance indicator here. So yeah a little bit more selling actually Okay, these big transactions in here. It's kind of interesting to to note Okay, we can also look at cumulative volume delta. I know you guys love that one. So Uh, let's look at that range at this range in here. There's more sellers. Okay, there's more sellers in here All right, so this you know could be kind of uh, uh our uh distribution Okay, so uh, uh, we'll see though. We'll see Now this is where a cumulative volume delta can really be um problematic in here If we get enough buyers up here at 35, I think we can probably break this level here and come back up to here at 37 And three quarters 38 And then finally 40 here Yeah, anyway, I don't we're looking for that scenario in here. Um, we're still bullish until we see something different like like I was mentioning but um, uh, you know, there's a few things in here that that keep us kind of From for making this like a more A higher uh probability Uh move here and the the what it is is the bid in here. See how it's all dark in here So sellers can pretty easily move it down here to 32 and a half buyers can easily move it back up here to 35 and a half or 35 and three quarters Okay, and it can bounce around in here very very easily See how the sellers can do that just move it right back down like this Okay, so yeah, we don't we don't really like that. Um, you know, we're looking for buyers at this top edge here See if they can like kind of push it back up in here, but uh Just because it there's not a lot on the bid here sellers can drive it right back down Uh, and and buyers can drive it right back up Okay Yeah, let's see if they do that right right back up here to 35 You know just uh just looking for a kind of a range bound move here Let's see buyers here and let's see them move it now. That should be enough Again, and why I say why enough in here Okay, the the context Okay, we're starting to see more buyers in up here So they can move it back up here. They've got enough buying pressure to move it up to 35 Okay, well not not didn't follow through on that Uh whatsoever So we can take a look again here At some of these ranges in here. Okay, that that was uh, uh, you know, I shouldn't I shouldn't have been looking maybe at 35 here but uh instead kind of the bottom of this range here, okay nice retest to that uh, and um Then we have a new range in here established Okay, okay. Here's here's our move to you know, originally back at I think was at this point or maybe this point in here We're looking for the potential for the move back down to here Uh to bounce off now. This is a little bit bigger picture to bounce off of this Uh and uh or at least come back and test it Okay, now let's let's read the uh the market here at this point All right, so we kind of left off here with that distribution idea in here reading buyers and sellers within here And we knew there were more sellers in here Okay, even even cumulative volume delta was showing that Uh, you can access the vix as well vol pro um, but I do not have access to it at the moment Uh in book map Okay, so here are buyers coming in off of this area went a little bit lower Okay, but see see the buyers come streaming in like this. Okay now watch this now. They should be able to move it up to here to 36 um That's just a lot of buying and we should see a stop run in here You can get rid of cumulative volume delta. There's our beautiful stop run in here. So a lot of stops being triggered Okay, looking for a continuation here is a lot of buying Okay, kind of see how that kind of disrupts things Now we need to see they just they need to step up here Okay retest back up here To 35 or i'm sorry 34 and a half And then we needed to look for that breakout boy deep pullback Deep pullback all the way back to here Where it kind of broke out from you can even see the little range in here below our our line Okay here All right, okay. This is the last gasp for those buyers. They they need to come in here Okay, if we see sellers down here Likely it's already happening likely we're going to get our move lower And now the target is here. Okay at uh at 26 26 and a half All right. So a little little flip flopping back and forth in here Just trying to gauge like who has who has more More power here to move the market who's in control Okay, see how this we can look at the the dots in here. We can look at the bars See how this this was a lot of buying right? Well now look at the selling how it is dwarf that buying All right, so this is a battle in here And we can Start to we'll see. I mean, maybe maybe we're going to get more, you know, big big Green bar and big green dots right now right here and try to come up here And then try to break out into 40 so as it is though right now It looks like There is more selling or there is more selling it doesn't look like it. There is more selling So and they they broke the down below our line here So I'm looking actually for more sellers here to try to drive it down to our 26 and a half level here Okay Just just so you guys know. I mean just because of what we read here in the context Okay, there's more sellers in here Okay, that buying in here was really kind of a red herring Okay, let's see it sellers. Let's see the push through Down to our level. They've got it And I mean, uh, they kind of exhausted out a little bit here But still still looking for it Still looking for our sellers here And then maybe 26 and a half is a little too low. Well now now the liquidies They're kind of pulling pulling some of that liquidity adding a little bit lower here So yeah, we'll still stick with our 26 and a half You can see the liquidity lining up here at 27. All right, let me get on to I saw a different version of the book map. What's the difference between them? Okay, so, um, Yeah, sure. That's that's an easy one to go through There's book map global and global plus for futures and for stocks The the book map digital is only for digital currencies All right, so that there's the digital version which is free and for all And it connects to One digital currency for free in a live market and that connection is free. So the data is free And then also the There's a delayed feed for stocks and for futures All right, so it gives you a good overview if you want to just look at book map and try it out Um, if you want more than that, it depends on what you're trading. Okay global and global plus They will connect to all markets Crypto and Now They connect to these markets, but you got to find the right data provider. Um, but uh, and we are not a data provider Okay, so, uh Yeah, it Let me let me go to that pricing page and I'll just go through this Okay, all right. So and let's take a look at keep price open here Still looking for our move lower um, but Go to the pricing section here So this one's free. This one's for digital currencies only this is for And you can see it here stocks futures crypto stocks futures crypto now the difference between global and global plus If you scroll down you see how the add-ons in here Okay, that's what you get with global plus Hey, there's a lot of add-ons being able to trade from the chart All of these add-ons like we looked at that imbalance indicator Uh, we haven't looked at the sweeps and resorption or dome pro or execution pro But uh, you get all of these with the uh global plus version Okay global and also the one-click trading trading from the chart. You will not get that with global all right So it's more for just data visualization And that's yearly. This is monthly. There's also lifetime in here if you want to purchase it for lifetime All right, so I would recommend to try in one of these um for the month and You will need data if you're a futures trader you will need to connect to a data provider That we support so go to connectivity here Uh, and then in futures we connect to all of these different data providers for stocks we connect to basically DX feed and omni feed And for crypto. These are all free, but we connect to all of these different exchanges here No, it's not possible to get the um, um stop Stops an iceberg indicator on thinkorswim. That's not rhythmic data. So, uh, it's not offered Uh, I don't think they've they've built out that functionality. Uh, either I mean, they're not going to unless they offer rhythmic Okay, it's taking this time sweet time here. Um Um We're back up to our line here It's just not a whole lot of buying still now, you know, this is rollover period and and uh Doesn't have to be rollover period that the I'm still looking for more sellers to take it down Okay, I But you know, we got to go through all the different scenarios and what these things look like Okay, so if we if we get some buyers up in here above our line, it doesn't matter if this is a low volume pullback Uh, you know, here's here's the big volume here Uh, and then if it's a low volume pullback up to here if we get buyers back up above the area That's what matters And then they'll likely take it back up to top of the range here and then maybe back up into You know top of this range here and then 40 Okay, but we don't see that yet. We don't see that scenario unfolding. We're still Um looking sell side here Okay down to 20 We said 26 and a half They're really here at 27 Uh, David, you're in here. It was uh suggested you do a webinar with us. So, uh, i'm throwing that out there Put you on the spot David ams Yeah, even this here so we we are starting to see those buyers back up above here above our line here, but You know again like It just doesn't look like a whole lot here Uh, if we if we saw really a you know big green dots up here that would be something different. We're not So still not really don't think much of it yet. Even though it's breaking the trend line here There is one caveat on this. We were looking for that move to the bottom of the range The one caveat is just point of control in here Okay, just these little areas these little Kind of high volume nodes in here That's what kind of it's kind of bouncing off of that. But um, there was just more sellers than buyers in here Yeah, this you're you're having a it's a grinding day here. You're having kind of a tough day Um, yeah, I mean, we're not really, you know, we're trying to kind of gauge You know one one way or another in here Uh, and uh, it is tough In rollover. I mean and basically to be honest like in these kinds of days here, we really need to see something And um Something that that has some distinction to it For this market to move Else it this this is very, you know, very typical during these rollover periods. There's a lot of chop Back and forth in here Yeah Yeah, good trading david Guys are in youtube over there. Uh, yeah, he's just showing some charts in here. So, um You may want to jump over to our discord Uh shal 77. Yeah lifetime is a one one time payment. Um for lifetime access All right, so There is something nice with the um, if you get global Life um You you you can upgrade Uh to um Global light global plus lifetime Okay, and just pay the difference Yeah, jose, i'm not into fibs. Don't look at the fib levels. Um Look at the order flow levels If you like your fibs look at, you know, I we always kind of suggest look at look at the order flow around your fib levels That's the way to go Right. So if if you like your, you know, uh 61.8, you know, um Retracement then, you know, look look for something around those areas that that helps you confirm gives you more insight Yeah, no adam We don't have any sort of like kind of global plus just for micros But yeah, you might want to check out that the uh edge clear Edge clear offering All right, let's see those sellers come in now. We've got a bunch of trap buyers up here We see the selling come back in here. So now we're now You know It was grinding up here and we just wouldn't convince by these buyers in here, but the sellers look pretty convincing So i'm still looking for this Well our 26 and a half, but it's really 27 Little equities there We'll go through this move in here because We're we're going to take this as kind of a fractal approach Uh, and then we'll just clear all the drawings for the moment uh, and uh This is what I want to cover In we we kind of read it on the this we're bullish, you know until we see something different And then we started to read this as possible distribution up here We knew there were more sellers in here than buyers in general You know here are buyers here are sellers here are some buyers here are sellers here are more sellers Making lower highs in here more sellers here All right, so and this is kind of where they took control basically Even though we were trending up right here are the sellers Okay, here are the sellers Even in here here are the sellers Okay, so we're just just noticing You know where they are And then look look again here Okay, even though we drew in our trend line and all that kind of stuff This is where the sellers are Okay up in up in this area here at 34 and three quarters up here at 34 Now this is of course, we're looking at hindsight, but I should have marked it up earlier Um, I I never got to the process of doing this right here what I'm doing now Okay, that's what we're looking for because we know that you know, this is on these time frames at least This is where the sellers are in control Okay, and moving that market lower and here they are again Okay, so we're almost to that 27 level still looking for it And let's zoom out a little bit. Let's take a look at some of the kind of auction market theory Uh, it kind of blaze through this area in here and see how it auctioned in here Okay, it's kind of scattered all over the place So, uh, yeah, I'm looking for sellers to try to I'm looking for these sellers to try to reach down into that area and try to auction down here and And explore it and test it Okay, are they going to accept is it going to reject? Okay, there's our 27 level guys. That was a long process Still looking for lower though Okay, yeah traders traders global you're looking at the Micro NQ Sure, uh, you know guys, we have a really nice feature in bookmap for Trading Off of the e-mini chart, but you can execute your trades, uh into um a micro contract, okay, so Yeah, I'll show you where you can get that Open up your trade control panel You need to be see i'm in simulated mode right here. Okay, you need to be in real trading mode All right, and then when you turn on your trade control panel, it's this one in here. See it says a target instrument Okay, you need to uh click on that and then you'll select the micro product here and then you start Okay, so That will allow you and you'll you'll get a notice here a window will pop up and say like you are now trading from the the The e-mini chart here, uh, but your trades will be routed and transact into the micro product So the advantage here and it's a nice advantage. You can react very quickly to liquidity in here That's much better in the e-mini, which is traded quite a bit more Uh, and you can look at these levels in here and Then make your trading decisions based off of that Right and and X and have them executed in in the micro Hey, that's a that's a real nice edge. You don't have to like flip back and forth or anything like that You just trade off the e-mini Okay, so, uh, anyway, yeah, I really think I encourage you try it out Uh, I think you'll find quite a nice edge off of that It's a it's a great feature. All right now it'll work with any of these micro products here Okay, it doesn't matter which data provider either All right guys, we were still looking for that move lower. It's still going lower here Uh, we just noticed who's in control All right, and we're going we're going with it All right, so we kind of read this whole thing up here Uh, when we started the webinar, we're looking for 40 Right, this looks great. We should go to 40 Then we started to see all this back and forth in here and then, you know, we started to change our mind Okay, this is you know, we're talking about here is and trying to keep it really simple because the markets are so confusing It can be Uh, just try to keep it really simple Uh, and uh, we're going to be, you know, using Wycoff a little bit here So if you're a lot of traders are very familiar with Wycoff In his methods, if you if you're not look it up Just do a google search. You can look it up in You know, god, he's not only in He's in wikipedia And you can read about him there and there'll be other references. You can look on vestipedia. You can look up wherever But the kind of things that he's talking about are precisely what we're looking at here Precisely, this is the again. I think rg was talking about well, how do I read and use book map? Well, here here you go. Like we just went through distribution Up here, right now. We know we're right because we got the follow through to the downside, but we read it And we were looking for our sellers to come in I was I was looking for a bounce off of 31 Uh, and we did get a bounce off of 31 But then sellers came in and pushed it through and we then at this point here We knew that they were in control. We're looking for the move down to the bottom of this range here And it took a long time to get there. Okay, and we did note that, you know, they even came back above 31 traders You know, we're able to auction it back up here But the sellers remain in control at this point here and this point here All right, we see the more sellers come in we're looking for our 27 and lower. So we just traded down to 24 All right, so uh, uh, and you know, we're just reading the order flow in here and putting these pieces together to look for these moves to unfold Yeah, head and shoulders is a great distribution pattern. Um And this is this is where it's I'm fascinated by it like you'll see like so many different variations of a head and shoulders for example And really I I'm only using head and shoulders as Because everyone knows what it is Okay, but it's it's distribution And it's the order flow that we want to read we don't we don't care about it being a head and shoulders. That doesn't matter Uh, now this is a little tricky in the sense that typically we see high liquidity on the offer getting filled on the first shoulder Then we see the price go a little bit higher Sometimes you see very high liquidity up here as well getting filled Okay, maybe it even kind of pops through a little bit, but then it rejects Okay, sometimes you don't see any liquidity all the liquidity was here. Sometimes there's very little up here You can see the buyers come in that sellers pound it right back down or buyers exhaust out Okay, look at the double top. Here's like a like a mini head and shoulders. We're just a triple top basically, but um buyers Lack of buyers lack of buyers sellers Looking for the move back down to the top of this And if there's enough selling there Or you know, here's our little pullback Just can't make this stuff up Right. Here's this structure. Here's this structure. Okay right And then here's back down into this and bottom of that range in here so um anyway just uh Looking for the order flow within it though. That's uh really the key here All right, and we kind of read that shift and change. We knew that we used our imbalance indicator We noted there was more sellers in here. We looked at cvd as well And um, I thought we'd get the bounce off of 31 and then come back up and trade to 40 This is where we that whole idea changed Okay, and then we noted these areas. Well, we noted them kind of a little a little uh behind schedule, but um anyway We're still we were still looking we we did not like this buying in here. It just wasn't that convincing Yeah, I mean, here's your shoulder head shoulder as well And again, you have to understand why these repeat And um You know, it's due to the it's due to the the trader's behavior And the order flow it's all in here And that behavior just repeats And that's where you know, it's nice to get into some of these people like uh wike off who You know notice this long long long time ago. We can visualize it though very nicely in here in book map. Uh the um Of of uh accumulation mark up distribution mark down Okay, we're in mark down phase right now Okay, so we saw our distribution and now we're in mark down Uh, well we traded down to 20, uh here Haney, okay. Yeah We traded down to um, uh 20 a little bit below Um, I still still see just a you know a bunch of sellers. So still looking for sellers Uh, this is we're already testing where sellers came in here Okay, so uh, uh, but let's see they may they may break it now We we're starting to see some buying interests come in a bit But uh up maybe to here Okay around our well almost our 26 and a half level a little bit lower Okay, and uh, yeah I mean, uh, this could be the beginning of maybe a accumulation uh in here And that's when you see start to see these deeper pullbacks in here Any deeper pullbacks Uh, but uh, uh, you know, we're we're still sell side basically I mean, we just see there's more sellers in here still a lot of icebergs starting to buy down here That helps with the accumulation, of course Nice stop run in here. All right, let me jump back here. Um Uh burr, I jumped over to the z-contract Uh, it it's just about to roll. I mean, you know, it's really funny. Like you can see precisely Um Again, I'm just rather fascinated by this. Um, we'll just do a quick google search here for volume Uh cme volume es click on the contract We'll go to the contract spec. You see it still says Uh es you here that'll change by tomorrow. I'm I'm pretty sure Uh, we go to uh, no, I'm sorry They will probably cme will probably change not change it until it's actually expired Uh, which will be friday. I don't know. We'll see what they do. Um, I imagine that's what they'll do Uh, but now what we want to look at though under volume and open interest here Uh, we want to scroll down here and we want to look at the flows in here See how it's very close here and in total volume. It's it's gonna it's gonna flip today Okay, it'll probably flip in another couple hours and you'll see I I encourage you keep your uh es you to uh symbol open And then take a look at it in a couple hours when the volume flips here Okay, to the new contract it you'll see like how it just the liquidity just changes as well So it just means and and that just A book map is visualizing it to put participants in that auction Have abandoned that You know that there's more volume in the other one and they're not willing to trade the u contract any longer Now guys, what one thing we really want to note. Um in this kind of um white coffee and uh Um concept here Is Looking for the mark up and the mark down periods Those are a lot easier to follow And uh, and and you know stay with it, uh until you you know, you see A distribution or or something else start to unfold Distribution or accumulation It's so much easier to go with that And this this is this can be confusing I I think we did a pretty good job of recognizing it But uh, uh, you know, it's back. It's it's back and forth, etc. And then You know, we're looking for um Someone, uh, well that mark down period And I think we're still in mark down but Starting to see some buying interest in here Okay, and now we're recognizing. See how we pulled right back to this area here guys This is before it pulled back to this. I believe we mark this up and we mark this area up here too Okay, let's just edit it and move it across. It's a little bit higher maybe here Kind of a zone Okay, let's see it. Let's see if we get sellers below here Right buyers here sellers down below and then the move maybe down to 20 again Down here. Let's see it sellers There they go boom Okay, still looking for lower 17 and a half maybe 15 and a quarter Okay, so yeah, I'm still sticking with it until we see something different, right And it might it might turn into that something different. This might be the head the reverse head and shoulders This might be the head Now we need to see buyers come in and move it right back up to here Basically 23 and a half All right, we don't know that but and that's why we just we stick with what we do know until we see something different You know so Anyway Now we can get into trade management, uh on on all of this in here in so many different ways Uh, you know depends on when what? It depends on how much money you have what is your time frame? What are you trading? You know what instrument what time of day? Uh, there's so many different factors in here. You know, that's why we're just going through order flow You can save those questions for for j-trader and for scott. All right, sellers. Let's see if you can break it Take it one more lower here See it exhausted out and we get buyers back up here, but we're still we're still in a negative structure Okay, quite a bit of buying though Okay, quite a bit of buying All right Okay buyers so Now we were still looking for sellers still looking for sellers noted the buying now the buyers have come in Okay, so now we get a little bit of a pullback now looking for the buyers to come up to here top of the range Okay, test where we had our sellers here 24 Okay, maybe now they've got enough buying pressure to come up higher looking for 26 as well up here All right, so now now we're looking for that Hey, we weren't Until we got here and then we started to see these buyers come in now. We're looking for the move up into the top and uh Test up here. Let's see if they can get up a little bit higher here Okay, you can kind of you can kind of see the shift here in that order flow See how this this is like I mean, I I thought the bite when we did come up kind of near the top of the range We're we're actually still in a negative structure even with this buying in here They did not make a higher high in here But we're noting this in here now. This is what we're kind of talking about before I mean sellers are basically still in control Right, but we're starting to see the distribution or the accumulation in here Okay, so we saw the distribution earlier now. We're seeing some you know We're seeing some buyers a little bit of buying here, but this is this is really good buying in here Okay, so Now here's a bit of sellers and here come the buyers back in. Okay, great So now now on this move if we're going to see like a mark up period We're looking for buyers to trade up to at least top of the range at 24 And then up to our 26 level here. So, you know, I've been Well, we've been we've been talking we've been holding these webinars for a long long time Here in ed book map, you know talking about order flow and You guys can hear that, you know, this new kind of direction here with white cough or You know understanding different things in here just trying to use like something maybe that's more relatable to you guys To kind of maybe Understand this a bit better You know, we can look at candlesticks etc. We were looking at candlesticks like, you know, a month or two ago And going through that reading candles and then looking for the flow to go a certain way Yeah, I kind of like the the buy side now And let's see if we can get back up here 22 and then I want to see that bid really light up in underneath here. And then I think we can get back up to 24 and 26 You know, see the bid here see how that helps Kind of push this a bit and we found reaction to that was buyers Okay, still looking for them to take it higher here Yep, simon. Uh, yep, the sellers are up here at 20 25 So we're at our 24 level Okay, and uh We might get a pullback here again, you know, kind of this this accumulation Um and back and forth in here. Maybe sellers bring it back down to here around 21 Okay, but we're starting to see the flow kind of change with buyers and sellers And we don't know like Here here is more buyers at a higher area. So there's still more buyers here. Great. Well, then now It's more likely we'll get to 25 and then and then they'll be able to push maybe up to to this this level up here 26 All right, whereas when we don't know that, you know, it's it's possible We get another rotation back and forth in here before we get this In this case, there was just more buyers in here. So they're going to move it immediately Okay, does that I hope that helps simon Uh, you know, look at them supporting it underneath on the bid now as well But are we getting what's the reaction to this liquidity under here? All right, they're also on the offer here So we're starting to see kind of a you know a bit of a battleground starting to kind of form here You know, we're going to get our deeper pullback now. Maybe back back down to here You know, or maybe to the top of the range or maybe just to this little range here These are our areas for looking for pullbacks and and looking to see if we still get more buyers okay, so We want to look at here here And here for a pullback Captain price. I mean, it's about is what time frame you're trading I mean, you know in these webinars our our goal here is to go through as much as we can um So that these the markets are factually can apply to any uh time frame, right? So, um Yeah, rollers are not very nice to experience pro k agreed. Um But yeah, we're we're getting I mean, they're it's given us something here. Uh, pretty good. I think to read here Now now guys, I mean like, you know, I know there's more buyers in here But the market gave me what I was looking for up here Okay, so yeah, I would take partial up here A partial profit. I would scale out. I'd move my stop up We're still, you know looking for a potential pullback as well but uh You know, I don't I don't know if this was enough was this enough to get to get us out of this jam here of this kind of back and forth Oh, anyway, I was getting that was um, you know, what time frame are you trading? You know, are you way zoomed out like this? Are you still long? Yeah, well, you have good reason to be I mean, look at all look at all this. Look at this very strong move away from this whole area here Uh simon, so what what time frame are you talking about more sellers and buyers right now? Well, there's a bit of selling in here Yeah above the bid the heat map. Yeah, always looking at that was you know, our how much is up here Are they pulling? Are they adding? always Okay, look on the bid in here. There is a little bit on the bid. It's not much You know sellers can can drop it down here really quickly into these areas here Okay, we're we're still seeing more buying pressure though, right? We're back up here. We had a little bit of selling in here Okay, again, look at the context in here Maybe it's easiest to look at the bars, but you can also look at the dots I like looking at both You know, where where is it trading is what I get in the in the dots Okay at higher highs. I want to see that higher highs Lifting the offer, right? So in in here here we go Okay, so now we're getting into our markup phase here um, so yeah, anyway what uh Uh, I was going to say here is the um Uh, look at this context in here simon Okay, so look at these bars for example and then look at you said sellers are just coming in now Here's our context Okay, so compare that to this over here So this is more like a pullback Okay, it looks pretty good though, right? It looks looks like you know a lot of selling in here likely these sellers in here are getting stopped out here Along with a lot of other people Okay, nice move continue. This is you know our markup period. Um now Again, let's take a look at the structure in here. We've come up come up to these sellers up here Uh high volume note as well. I I do kind of You know, I I I I I love volume profile. I just don't um Follow it that closely You know come to tom's webinar uh directly after this and another like 10 minutes or so or five minutes Uh, and he's he goes through he's an expert in volume profile And you you can learn a lot from tom on volume profile I I love it. Uh, I just Like reading the order flow first, uh, and then looking at uh, you know, these things like high volume nose low volume nose You know, where is it trading also in the profile? Um, I don't know. There's a lot of things that I I also don't like about profile um that um It doesn't give you the vertical very well. Uh gives you the horizontal really nicely, but it's aggregated Again that the the a word, um Is uh is a bad word the aggregation Right, so it's aggregated here. We don't know What it looks like in the vertical in this area in here, right? We just don't know we don't have access to it Uh in a profile Right, this is what we and what I mean by vertical is is precisely this in here The buyer is taking control moving that market. Okay. Can you see that in the profile here? I cannot I cannot Now this is volume profile. You you'll be able to actually see this in Uh market profile though You will you'll you'll see your your letters in here, you know moving that market higher Okay for the different periods Uh, and I like that So that gives me a kind of another added uh level Instead of just aggregated volume here Uh, you're talking about the seller you're talking about on the offer up here simon at 41 30 well again like it's it's the This context in here Right, so we know they're on the offer up here Do buyers want it though? Okay, well here we're starting to see that they want it So they're going after it All right. Now. Do they stay in the order book and get filled? They they they sure did here No, I should take that back some of it did and some of it didn't Okay And then see how see how 30 they pulled so there's our context. These guys really don't want to sell All right, so we're still in markup period now okay Is that clear or simon about context? I that I I really I Boy the a word and the c word Aggregation and context Um, you know the the the c word is like, uh, it's so easy to just kind of blame or not blame it But just like write it off as context, but really what it's really true though. We really need to read the context Uh, there's aggressors in here. They're going after this liquidity and they're starting to some of it's getting filled But they're starting to pull that liquidity away from the market. They do not want to be Sellers anymore or less. So some of it traded up here Okay, so that that is the context Uh, and uh now this context on the on the bid in here Well, this and and you can see it in here on the offer in here. This is something different. This is during that rollover period Uh, you'll see it. See how they're just kind of uh, you know It's kind of positioned in q uh algos Okay, so that's what makes rollover a little more challenging Okay, that you don't you don't see as much kind of You know speculation or or you know traders that are committed in some of these areas here staying in the book uh, let's see moi a How do you put a window back in the main? Okay, that's easy. So if you want to pop it out here Uh, like let's say we want to pop out the uh, nasdaq Okay, double click on it pops out. Okay, just close it here Right, uh, this will put it into the main tab group here So if I close it see how it pops it back in at the end here And then you can just left click hold and drag it back over to where you were All right Does that answer your question moi? Yeah, it's kind of a funny, uh interface in that sense Yeah, because it it feels like you're going to close the instrument, but you're just closing it Uh and and putting it back into the tab now if you close it here If you click on the x button here, though, you will close it and it asks do you want to subscribe unsubscribe? You can unsubscribe or you can keep it, you know, if I keep it it stays Okay guys, so actually a pretty good webinar today Uh, I think you know looking at mark up mark down Uh distribution accumulation How to read that context, uh, and then uh, and we're seeing that follow through here Okay, now let's just go we'll go back and again like that's why we're looking at all these little details in here It's not that we we trade low timeframes or you can only use book map for low time frame trading Uh, you can look at your bigger picture here and now Look at your context again in here, right? Look at the the bars. Look at the dots and where they're trading Uh, and then look at the context in here. So there's a lot of selling in here So maybe it just goes back and forth in this area here, you know, the rest of the day waiting for cpi data tomorrow You know, we don't know, uh, but that's a possible scenario due to the volume in here Uh, and also the order book, you know between 40 and uh, well that that 20 level they they bought down here Uh, so we're kind of back up in the middle of the of that area now and back up into a high volume node All right, so uh, uh, but uh, you know, let's just read that context again. So, um If we get enough buyers in here All right, look we're looking for 40 Okay, or maybe even 50. There's not much up here at 50, but there will be Uh, I imagine if we can get up there If we if we get start to get into 40, they'll start to put liquidity at 50 The big figures or or half figures here are always pretty pretty important All right, let's see here. What else? I hope that helps simon. I want to try and try to get that some of this across Uh, to you you've got some good questions in here. You want me to look at the nq? Yeah, we gotta we can quickly look at it. We got to get going here But uh, I I do want to show something though like we will have I haven't created the webinar yet Um, but uh, so if a lot of you guys might have signed up for we're having a trading competition Uh for the coinbase pro is with trade of eight. You will open it up. You've opened up account. It's already closed um for those that Were able to register in time Which we we we we let you know uh friday about all of that That it was a sunday evening at midnight. Basically was the last moment now. It's cut off However, we're going to do some education at 2 p.m. East coast time All right, so look for that if you want to come in, uh, even if you're not part of the the competition It will be in the book map or bm trade of eight. Um Voice channel in discord, okay, and we'll go through All sorts of different stuff kind of similar to this But you know, it's a trading competition. So we're going to do more of a breakdown In there and uh, I I think we we're going to do an open mic as well. So people have questions or you know, want to uh Have something to say in there. All right So look for that. I I can show you at least here on discord where it is uh so Just come to our discord in here If you scroll all the way to the top here click on events And then it's right here trading competition Bitcoin trading competition breakdown All right, so that'll be at 2 p.m. In this room here. So if you guys on youtube want to come to that Uh, and then tomorrow morning, uh, 9 a.m. We have a special event here. We did this before it is only in german Uh, we do have subtitles that you know afterwards will be in english, but uh, Oliver, uh is an excellent trader German trader, so it's going to be in german Come to that if you're uh You want to learn from from oliver All right, uh, and uh, yeah other than that look for tom b. He should have been starting just about now All right, so uh guys, we'll uh call it a day. Thanks for coming everybody Take a look at uh, uh the Webinar later today. It's going to be all week at 2 p.m. Come to that ask questions Uh, and we'll do some uh, you know look at some breakdowns in uh in the bitcoin futures Okay All right. Yeah, take care. Have a good day. Bye. Bye