 Okay, all right, good morning traders and welcome to the book map live trading webinar. This is Bruce at book map. And so it's Tuesday webinar, this is we had a holiday yesterday here in the US. So just getting to trading on Tuesday here in the shortened week, we'll be doing the live analysis. That's what we do Monday, Tuesday and Friday. It's all based on educational course that's online. So you have access to that. And then we'll do the follow up here in the live market so that you can apply exactly what you've learned in a forward looking analysis in the live market here. That is our goal. We also have live trading with J trader stocks trader on Wednesday and scuffle senior futures trader on Thursday. So a very complete package of education that you're getting as this webinar ends here today or any of these webinars. There is a follow up with Tom B. He will be also streaming live going through live analysis in the afternoon. So you really have quite an educational course here or information or platform to go through. So let's go through the disclosures and quickly jump into the markets here. Listen up please. The disclosures are important. The 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 is not suitable for all investors past performance is not necessarily indicative of future results. Okay. So let's jump in here. Let's go through it and see what's going on in this S&P. We can look at whatever you guys like and but most people want to look at the S&P E-mini futures product. So that's what we look at. We can look at crypto. We can look at stocks whatever it is that that's of interest here some majority rules. So anyway just a quick overview of what's happening right now. As you can see pretty nice channels here of liquidity at $37.50 and then at $37.30 down here we trade into it pre-market just before 8 a.m. bounces around in here and then look at the $9.30 cash open and boom right to the upside. Still looking for it to go to the upside looking for this $70 level to trade and looking for $75 as the next level here to trade. So let's see if we can inch up into that. You can see a little bit of selling coming in here right now but we're still in this uptrend so we stick with the uptrend until we see something different. And looking for a quick move up into this $70 liquidity right here $305 contracts there. All right. Anyway that's just a quick overview here and might get a small pull back here at the moment. I just don't see a lot of support in the order book underneath at the moment. So here we go. Here's our pullback. So yeah I need to kind of bounce around in here before we can go back up is the idea. Now we need to though take a step back and look at the bigger picture. What is this $70 level here in the bigger picture and is that going to be or hamper this nice move here to the upside? Or is this just kind of back and forth flush out here down into this swing here and then we're looking to see if we can find buyers or support down here. If that is the scenario and that is not playing out right now so we'd be looking forward to go maybe a bit lower here. If that is the scenario though we'd be looking for buyers here around this $67 level. If we get enough of them we'll probably come right back up to this $69 and then $70 level here. So going through the different scenarios and then looking at the order flow to tell us the likelihood and the probability of that scenario unfolding. That is the goal here and that's what we'll go through again and again and again here in book map. So let's take a look here at the bigger picture and zoom out. We'll look at the daily chart here on the left hand side and in the middle we have the hourly and then the 15 minute here on the right. Daily chart, wow this is a pretty nice move off these bottoms here as you can see. You can see some of the wicks here and then look at this nice move here to the upside. Some little level that we're just playing into right now around this $70 level because this is going to be likely a point of control of several days here, one, two, three, four, four days here and what's the high volume node in there? A return back to that high volume node or just what that means is back to the average and that's what's happening right now. Now we're curious to see if this is a pretty strong daily candle, also the hourly pretty strong candles here and let's see if we can get more momentum and come back up maybe up into some of these wicks up in here from previous days as you can see here on the daily chart. So a move back up into this kind of 3807 in 3,810 something like that looks pretty good. That's a possible scenario here. So that would be up into right around in here and then maybe we can get everything further. You can see these down days from last week, pretty brutal gaps down. Here's one move to the downside closes, the next day opens up and then it gaps down and then we gap down yet again into these lower levels here. So there's some pretty wicked moves here and now we're getting retracement back up. So how much juice does this have for some of these retracement back up into these levels? That's what we want to ascertain in the order flow and understand what's going on here. So this 15 minute chart for example, well we can see these are pretty strong candles here or moves. Maybe we can kind of get a bit of a pullback maybe or a bit of a pause but then continuation. And then here's our 3,800 level up here in this swing here and then here's 3,810 or 07 to 10 up in these levels here. So that's one of the scenarios we're kind of outlining here for today and the possible move up into those areas. All right now if we don't get that, we'll be looking at the order flow maybe around this kind of point of control which I imagine is probably a little bit higher here, somewhere around in here, 75 or so, maybe inch up into there and then maybe we'll get a pullback and chop for the day within this area. Okay, maybe we get a reversal and move back down into some of these areas here as well. These are different scenarios to go through. The most likely we're looking at right now is this move here to the upside. All right, so let's see here. All right Alec you're targeting 74, okay, that's pretty high level up here. No, no I'm sorry, just right up here, yeah, that sounds about right, yeah. And taking a bit of a pause here as you guys can see. But we're still in this uptrend and this is kind of a pullback here. Will this turn into reversal? We'll have to kind of ascertain that right now. Some selling here, some selling in here. This is really where we want to see if the buyers come in now. Bottom edge here around this 63, maybe a little bit lower, maybe come back down into that kind of 62 or 61. But this is where the buyers need to step in if we're going to continue on higher, all right. So let's take a look at, we can just kind of align some structure in here and let's see if we can get buyers back up above this kind of 66 level let's call it. And then if we do, we should get a nice quick move back up to 68 is what I'd be looking for. Okay, so here they come. I'm not getting much in the order book here. This is another piece to the puzzle we always look for in the order flow. As we want to see some interest on the bid here. And right now there isn't much, right. It might be all aggressor that comes in here and just, you know, the green dots carry on up into 67 and 68 and 70 here. But when we really have something that is more likely, see how the sellers can quickly move back down like this here. So when we have something that's more likely, the book will look more like this. I'll show you here. I'll just kind of demo it with a drawing. It would be, you would see liquidity like kind of stacked underneath here. And, you know, they want to buy and buy at a higher level here. All right, that's what we'll be looking for here, along with green dots buyers coming in here. Okay. Now, structure wise, yeah, we tested back up here. Okay, broke it a little bit, but we're still kind of, you know, in this range here at the moment. All right, so structurally like no kind of insight here too much at the moment. What I'm talking about in terms of structure is looking at, you know, kind of bigger structure back and forth in here that gives us some sort of insight. Now, look at the retracement here. This is looking more likely. Look at the support underneath here and 65. Here come the buyers. This is more likely to trade to 68 and to 70 here at this point, right? We have the buyers underneath here. This is what we were looking for here earlier. We didn't get them. Now we're starting to get them. Now let's see if they can continue here, looking for maybe these guys to add up higher and support this here, right, followed by green dots. Then we're looking for a 68, 70, and then continuation to the upside here. All right, so there's a good example right there starting to understand how to use and read the order flow here from the order book and how this makes a difference here. All right, so let's any questions on that. This is really kind of essential to understand. OK, it's all it's all about the orders here. See, here's our move, right? And it's understanding that, you know, where is their buying and selling interest? See how we trade it up here and see how we trade very little and that they're pulling that liquidity on the offer? OK, well, it gives us insight that they don't really want to trade here. OK, we even trade up to our 69 level here. That was our first area of liquidity and then 70. And they pulled the liquidity here at 69. Now we're trading up into 70 and they're starting to pull some of those. Some of it's transacting and some of it's being pulled, it looks like. But these guys are staying in the order book. See the distinction here? And we didn't find enough buyers to trade into it. They did transact here at 68 and a half, though. They provided the query in here and you see the red dot into that area here. So these guys transacted. Now, not all of them, but some of them. Some of it was pulled right beforehand as well. This gives us insight to the appetite of the buyers and sellers in here. And that's what we're gauging in the order flow. So now, still looking to see if we can get some support here in the order book underneath and then move up into 70. And we're not right now. So we're looking at some back and forth here. Maybe even a retest back down to 66 or even 65 here. Yeah, see the order book in here at 68. We get a nice little push back down. Now we're down at 66. Kind of curious to see if we get maybe some interest in here now. We're not. We're getting orders here at 67 on the offer. Let's see if the buyers trade into them and take these guys on. Looks like they're going to try it here. There they go. OK, so now we have a battle going on at this bottom edge here. We found that there's sellers in here and they did transact on the offer. And we found the buyers that took them on. What's the reaction after that? That's where we want to read and understand what's going on in here. And it's a little late now to give that insight. But we did not trade through it. This was the high here of that little area right here. So sellers came back in after this transaction here. This is how you can gain so much insight by these little transactions in here. Well, they're not little. They're very, very meaningful. In fact, we have a blog article on this about testing and spoofing, I believe, something like that. I'll try to find it and share it with you guys. But you might find it helpful. And it's really understanding. These orders in here that popped into the order book changed the market. What's the reaction? Now, look how it's clear sailing now for buyers to reach 70. OK, now let's take a look. Do we see some interest here on the bid here? A little bit, a little bit. So maybe we'll kind of inch on up here. Now, in terms of using this for a trade strategy, it's up to your risk parameters. But unless it would be higher probability if you see more on the bid at these levels, and then the reaction to that on the bid, that liquidity would be buyers. That combination is what leads to higher prices here. And here we go. So now we've got not much insight here. And we didn't think this was as high probability in here. But they are kind of underneath here. It's just not really as nice as what we're looking at earlier, some of these other areas in here. And you can see how we can trade up to the top of the range here, and how dark it is underneath. It's very easy for sellers to trade right back down. And this whole level in here between 70 and 66 is pretty dark. So the aggressors can really whip this around back and forth. So there's nothing to do in these areas in here. I'm sitting on our hands. Any questions on that? We're just understanding the orders here in the order book. And understanding the context of these orders within a structure, a price structure. Here we go again. Now let's see. Now look at them building some support underneath here. I'm looking for it to trade 70 here. I want to see a little bit more here. There we go. There's a little bit more at 68. And what was the reaction to it though? All right, well, it's not quite ready yet. The reaction to that liquidity in here, right in here, at 68, was we found some sellers. We want to see buyers up here. So we were looking for that reaction. We got it in the book. We just didn't get the reaction from the aggressors. So here we are back down at the lows again. So we need both pieces here. And that's what we're looking for, something that gives us more clarity. TB, this is clear for you? Yeah, and this can be used for any trading strategy. If you're looking at a volume profile in here, you'd be looking for it to break above the high volume node. And then you want to see it start to trade up here in the transactions up in these areas here for it to break the, you know, we talk about weak tops, et cetera, where there's just a lot of volume up here, and it doesn't take too much for it to push higher. As you can see, we do not have that in the profile. It's pretty evenly distributed here. So we're just coming right back down. Now let's take a look at this bottom edge down here. Look at the profile. And this SVP, CVP, and we have one here that's set up as a delta. OK, great. All right, now let's say we're back up above this high volume node, right at it. Now let's see, do we get some interest on the bid here? I'm looking for it. Nothing, it's dark. Gressors are taking it higher, but I want to see some action here on the bid. And I want to see them pull maybe at 70. OK, this is nicely set up to trade not only into 70, but to 71 or 2 here, 72, and maybe higher. 75, 74. And we're starting to get some buyers here. Just nothing on the bid, not yet. Sellers can easily take it right back down to 65. Now let's watch here. All right, here we go again. Now, still looking for it, not seeing it. There's a little bit underneath there, a little bit, not much. And these guys do want to get filled, and they are getting filled here at 70. Now the bid is looking a lot better, right? They're pulling up here at 72. Let's see it move higher then, looking for 74, 75. So there's really nothing to do in here. We kind of missed that move up to 70 here. But we're catching the move up and trying to catch the move up to 74 and 75 here by reading the order flow. They're on the bid here, right? 71 and 1 half. Oh, you're welcome, Rick. Yeah, so let's go back and let's take a look at some basic structure again. So look at the sellers trade into these guys here. Look at that we have some icebergs in here. So I was tipped off to this in here, that this is a potential iceberg, because look at these huge sell dots in here. But why isn't price dropping? Because there's hidden orders here. They're buying here with iceberg orders. Now look at the support here. Great, do we get our aggressor looking for it? And then the pop-up to 74, 75, 76, OK? I'll go through this here with the stops and icebergs. But they're clearly here absorbing. And here's our blue line here as it goes up. But we're seeing that these are iceberg orders in here. Let's put the on chart indicator here. Stops and icebergs on chart. There it is, sub chart. Where's the on chart? There it is. OK. OK, so here we have a few different transactions in here. We'd have to zoom in to get all the details here if you really want, but as you zoom out, it aggregates it all. And you can see there's almost 1,200 icebergs here. That's significant. Here's another one right here. Almost 1,200. It's curious. It's the same amount. Well, I'm sorry. This is the same iceberg. It's still here. They're still here. So around 946 traded there are in this area here. And then we have another couple of hundred here. They're still here, though. What is the setup you search about? I'm not sure I understand the question. Yeah, thanks, Kevson. Yeah, liquidity at 75. Yeah, nice call, Alec, heading up to your 74 level here. OK, look at the iceberg here. OK, now let's look at the context here. Pretty big iceberg here, but there's a lot of selling here. So you can see they traded into and through that iceberg. And it fully executed here. So it was fully executed for, let's see here, how much? Well, it was 1789, basically. That's how many icebergs were here. Fully executed. They got their full position on. And price is going against them. All right, so now we have another level to take a look at right here, 71 and 1 half. Looking for buyers back up above 71 and 1 half. We're back to that same process again. We can even see it up here. There was a lack of a lack of buyers. Not enough buyers in here. We're supporting on the bid. And then we have that iceberg here. So I'm still looking for it to go higher here. But we've got to get back up. And these can be trading strategies, too. You can trade it back to your 71.50. But this is the key level right here. And we want to see buyers above it for that continuation here. See them pull that liquidity here at 70 and 1 quarter. OK, let's see them on the bid here. Now we're looking for our aggressors again. Looking for those green dots. And not getting them. OK, here we go back up again. We found some buyers in here and we're above it. This is a very small context. But nonetheless, it's context. So looking for our buyers here right around this 69.75. And nothing. And again, look, I mean, there's many different ways to look at this here. You know, it really depends on your time frame. Because you can look for trades back to some of these areas and then hold it for a bigger move. All right, let's zoom out. Let's see what's going on, though. We can see quite a bit of selling coming in here right now. OK, so yeah, some pretty strong selling in here. Maybe we can come down right back down and retest this kind of swing here. It's the bottom of the range around this 64 area. Hitting the high volume node right now. And starting to see some support in here. Book looks pretty good. All right, let's see if we can get our buyers in here to try to trade back up to 70. And then this key level out of our 71.5 here. Luke, would a higher, larger time frame be a little bit better to see bigger orders? No, not really, not necessarily. I mean, zooming in and out and getting that context is really, really important. But we're just trying to get a feel for what traders think of the market by reading their activities, reading the orders in here. And that's what order flow is all about. So here we go, right? Now look at how dark it is underneath here, though. I don't like it. We can see sellers come in and quickly move it right back down here. Let's see our nice stops as well. Let me open up our stops. OK, big stop run there. Yeah, yeah, I mean, I like seeing the buyers up here. This looks good. Just don't see it in the book again. So yeah, not looking for it. Now it might do it, but not looking for 72, 73 at the moment here. Unless we get something in the book. Now here we do have a little bit at 69 and 1 half. It's kind of far away. So we want to see it where they really want to buy. I mean, we're not trying to look at this. It's like, ah, you know, you might pull, whatever. We want to really see the intent. All right, lots of questions here in YouTube. So let me get to some of these. Looks like Discord, we're pretty good there. Yeah, guys in YouTube, you might want to join the discussion over on our Discord channel. It might be, you might find it a bit better under the Advanced Webinar section here. Let's see, Roland, thank you for the compliments. That's really nice and much appreciated here. Which combination of data feed broker would you choose to begin with Bookmap? So here we are, guys. Let's see if we get this little push here. Yeah, there we go. Now this is a hard read, again. I mean, we're looking for this scenario. But here, now it looks better. Because look at them on the bid here and we're finding buyers. Now I like it more. I'm looking for 75. But the way up to it here, I didn't like it until we had this. And now I like it, now I'm looking for it. So again, when we have something where we can see the intent of these traders in here, we have something that's just an easier read, I think, is the best way to describe it. And we're still looking for it. And it's kind of dark under here, but you can see them building a little bit of support. See right underneath here? And we saw that before that move took place. It was kind of bluish underneath here. So yes, I'm looking for 75 and then further. Now we've gone through just a whole bunch of back and forth in here. Since this webinar kind of started, we were looking for 70 to trade. And now we're looking for continuation. We're looking for the easier trade now and the continuation here. So let's go back to our higher time frame and we're looking for the move and the continuation back up into like, I don't know, 89, 90. What did we say? Here's our 3,800 up here. I think we said 3,807 or 10 up in these areas here. So yeah, I still like it. The momentum or this buying move is still in process. So we still look for the bigger trend to continue. Now we just went back and forth in here a bunch of times. And now we're trying to look for the easier trade here and the continuation. Well, we made it up to 77 here. Here's 75 and they did transact. You can see it in here. And now we're getting a pretty big pullback. See again how the order book in here, they're supporting it down here. Not so much in here. It's not bad. It was better than some of these areas. That's for sure. But the context was buyers up to here and then we didn't find our buyers. So you can see like, you can really avoid some of the chop in here. And you're going to have to kind of look at your trading strategies. And this is where the back testing, the study comes in. It's been kind of wishy-washy like this. We're still looking for the move higher. But then these dark areas kind of show up and we get our sellers in here, et cetera. So we like rhythmic data, Roland. It has full depth of market, but it has something more, which is called market by order data. And that allows us to see these stops in these icebergs here that we've been talking about. Only Rhythmic has that. So that's why we like it. We like their data as well. We think at sub-second levels it's quite, quite accurate. And that matters. It really matters. You wouldn't think that it would, but it does because if a trade, if the timestamp is just maybe a microsecond before another, it makes a big difference. So having accurate data is important. Now there's several brokers out there that offer rhythmic data. You can find that also from our Bookmap knowledge base. Go to bookmap.com in our knowledge base. And you'll see at the bottom of the user guide section. About, I think there's five or six brokers that offer rhythmic that we mentioned in there. This seems too much of scalping, Luke. Doesn't have to be. We're going over scalping or kind of smaller time frames in here for a reason. The reason is we want to go through as many order flow instances as we can. But it doesn't have to be. I mean, if you look at your higher time frame in here, look at the structure. There's no reason to get out at all. None at this time. Here's why. Look at the structure. Nice move, it pulls back. It pulls back to where? Liquidity here, pretty close to it here and kind of here. At 3750, continues. So here's our continuation. This trend is still in focus. We're still making higher highs and higher lows in here. So higher time frame, there's nothing more to say. Hold it. Until you see something different in the order flow. So that's why we look at much smaller time frames. Higher time frame, you're looking good, nothing more to say. And that coincides quite nicely with what we're talking here as well on the hourly, on the daily, on the 15 minute. So we're just still looking for continuation. Yeah, huge gap fills to take a look at here. George, absolutely. One of them, what you're mentioning, around this up here, right? Where is it exactly? So 89, you say 77 to 83. Yeah, Luke, I mean, it really depends on your outlook and your time frame that you're trading. Just note that one thing about order flow is it can change on a dime. And then that can have a big impact on your higher time frame trading. No doubt about it. We've seen it all the time. Some larger player maybe starts to kind of turn the market a little bit or suggest to turn with maybe icebergs or a lot of absorption, a lot of liquidity. Maybe it's news that comes out. And then it disrupts this whole structure we're looking at here, which is bullish. This is a bullish structure here. So we look for the continuation. So if you're trading on that higher time frame, you're still in it. Great. Kristoff looking at order flow in the cryptocurrency is the same idea. It really is. All markets, it's really the same idea. It's just different players, different kind of activity in the order flow. OK, let's see here. Good morning, Guido. I haven't seen you for a while. Luke, regarding some of your maybe your higher time frame strategies, I mean, when it comes down to it, it's something you've got to study, of course. You just take a trade and hold and pray. You have something behind it, some study that gives you some statistics, some numbers that you know with confidence. And that's really the key here, that more times it works out than it doesn't. And that's why you take the trade. And now that's something that you need to kind of develop. We're going to go through the order flow for many different ways of trading. As you can see, higher time frame, lower time frame, et cetera. Yeah, I agree, Jeff, why someone wouldn't use rhythmic data. I don't understand. I wouldn't understand that either. Yeah, we really like it. I mean, look at this full depth of market. So just this aspect alone is so worthy. If we zoom vertically here, there's high liquidity. We can see how long they've been in the order book here. Up here, look at 9.30. This guy up here at 38.15. We're looking at those higher levels as well on the hourly and the daily 15 minute. And we said kind of 07 to 10, but here they are up at 15. So that put that into the kind of picture here. Yeah, one thing, Luke, about pullbacks, I mean, pullback trading is great. In FT-71 or other traders, always a J trader, always looking for a pullback and have studies and strategies around that, I like to look at breakouts because I look at something I know that it looks like it's a higher probability that it's going to unfold and then also get the pullback as well. Maybe take some partial profit and then also look for the pullback. So it depends. It really depends on what you're interested in. A lot of what really bothers me about pullbacks is a lot of times you don't get it. And you just watch this beautiful move unfold and just leave you behind. OK, it looks like I'm all caught up here. Yeah, I mean, that is a little bit more of a scalping or risk management there of like, it depends. Like you can really kind of scale in and out of a position, around a position. Luke, I mean, that kind of gives you more flexibility. It's really up to you, though. Like, you look for that pullback and then holding, great. Yeah, I mean, that's fine. I mean, something that JTrader, I respect so much. I love hearing it. I just love hearing it from JTrader. He'll be on tomorrow is like, he'll just miss the trade. It's like, it didn't do. That wasn't my setup. Didn't do it. Just look for the next one. If he doesn't get the pullback and the train leaves the station and no pullback, that's that. He doesn't care. It just shows supreme confidence in his trading strategies. It's like, yeah, that's what happens, but I'm not trading that. I'm not taking that. I'm not going to chase it. I'm looking for a pullback. We can talk about pullbacks, especially low volume pullbacks. Like, we might see kind of an order flow shift and change right now because look at this nice move up into our 77 level we talked about. Here's our retest and look at the buying up here. Look at how meager that is. Actually looking for some sellers in here and see if they can. We made a lower high here, and we're making lower lows in the smaller structure here right now. Again, today I just don't like seeing this kind of really dark order book in here. And we get these random walks of price and shifts of the aggressor just like this very, very quickly. And you can see equally, here's nice move to the upside. Not on a whole bunch of buy volume, though. It's not bad. But look at how dark it is under here. You'll see sellers come in and just whip it right back down here. And I like avoiding that. Now we have some context, though. See we have this high liquidity here at 75. We're finding buyers. Let's see if sellers take them on, though. See how he's pulling here now? Sellers can take them on. It's easier for the sellers to take them on now. There they go. OK, now our context is what happens after that. Well, we're still finding a bit more selling. OK, can sellers bring it right back down to here? Kind of 72 and a quarter, 72. They're supporting it here at 74. And it's really kind of shifting and changing in here. This is kind of critical. So yeah, I'd love to see more buyers up here. And anyone that sold in here is going to be upside down. They'll have to be buyers back up into this area here. But yeah, I'm not quite sure yet. It's not clear in the order flow here. Yeah, low volume pullback, Luke, is a great one. I love it. It really is kind of a challenge sometimes to get into those because you might set your limit order and it might touch it, but never get filled. But that's where you have to kind of wait for. You have to jump in with a market. Even this move here, I don't like it. It's still looking for the upside here, but until we see some more support in here, kind of staying away from it. And this is following our higher time frame outlook. So Luke, I know you're looking for your pullback, but there's still like this is still looking pretty good. We had a potential order flow shift here, potential. We'd be looking for our sellers down here, though. And we had this nice move to the upside, but it equally could have been equally right back down here. It didn't. And we continue back up. Order book looks pretty good in here, supporting it. Let me find that article. Let me find that blog article. I think you guys will like it. Yeah, here it is. OK. So yeah, you might find this of interest. I'll put it here into the chat for you guys. And discord. Oh, sorry, guys. In discord, I've been missing some of your discussion here. Higher trend is down. Yeah, I'm just looking for the day here, Alec. It sounds like you already made your nice trade. IQ feed is MBO. Yeah, I keep hearing this, but I looked into it. I've asked about it. I haven't found out too much. And we haven't developed anything for it. What's the quality of that MBO data is essential. Do they also offer full depth of market at this point? CQG, like I think has said a while back, they said they're not going to do it. They're just not going to offer market buy order data. They don't even offer full depth of market for a lot of instruments. And it's such a weird thing, because for the ES, I think they do. For the NQ, they don't, but they used to. I just don't get it. Or crude oil, I think they do. Gold, they do not, but they used to. Something weird, something like that. Negative iceberg means that they were selling. It was a sell iceberg. There's a negative number in here. Or if it's above price, it's a sell iceberg. If it's below price, it's a buy. Actually, this is looking pretty good for the move higher here, guys. Again, look at the order book underneath and finding the aggressors. So I'm looking for the push up into 80. We're still looking for that easy trade. I thought we'd get this kind of move like this, basically. I thought we'd get to here. Let me get the pen tool. That would be the easiest here. It was kind of looking for a move like this. It would go like this. It still had a kind of bullish slant to it here. And then this, that's what I was looking for. And I thought we were ready in this area here. We're just getting a grinding move, basically, right now. And it just continues to grind higher and higher. OK, T46. Yeah, I'm not sure what to say about the IQ feed data. Oh, the slash. OK, yeah, Rob, this is a good question. When you see a slash or in the parentheses here, so there's 24, like right here, 24 parentheses, 3. So three different transactions have taken, or I'm sorry, I think the last one was for 3. Yeah, so here's the last transaction for 3, right? But 24 altogether. So you see two different transactions, in fact. Or at least here you do. I think you get some aggregation here, right? So now I just traded, and it was 50. OK, so that was Niceburg of 50. So guys, we're still looking good here. It's really, it's grinding higher, but we're seeing some support underneath here. We're not seeing a whole lot of buyers here at the moment, and they are staying in the book at 80. We want to see them pull some of this here on the offer. That's the kind of context we're looking for. So here we're trading into 80, and then look at this sell-off immediately. So context is we want to see it trade into and through, and we want to see more on the bid here. And we're not seeing so much on the bid, and we're not seeing aggressors up here now either. So we can move back down into some of these lower levels. Here's our context again, look at 78. Now, do we find buyers, and now they pulled, right? So it's not giving us much clarity in there. We're looking for it, just didn't give us too much. The slash part, Rob, means two different icebergs, if we can find an example here, at the same price level. You'll see it, I don't know if I find an example here. So you'll see a slash and parentheses, et cetera. So it's in the knowledge base. I can show you here in the book map knowledge base. Got all sorts of stuff here. Okay, book map knowledge base. Here, here, add-ons, icebergs, on chart. Should say in here. I can't read through it right now. But yeah, take a look. I'll put this into the chat for you, Rob. There you go. All right, and then back to Luke. I mean, you know, here we are. I mean, it's just, there was nothing to do on this higher timeframe move. Nothing has changed. We're looking for a potential change right in here, right in here, right? Lack of buying, some selling down here. Lack of buying lower, high in here, right? But we didn't get it, or it started to look pretty good. We didn't get enough sellers here. Buyers came back in and we're back to this continuation move here. See, this is what just drives me nuts about the pullback trade on this kind of action today. Peter, you got your target? Okay, good morning, Drew. Nice, nicely done. Let's see, Josh P, how much relevance I put on the volume profile shape? Well, if you're a volume profile trader, that's, you know, obviously that's essential. And I, you should come to the Tom B webinars. After this one, so it'll redirect you, this webinar will redirect you to that one. But he's a volume profile trader for the ES, and talks about different strategies with that. But it, you know, it's up, well, there's specific ways of looking at it, your volume profile. So look at this profile here, right? Now this is a chart range volume profile. It means that everything in my viewable range here might is, is I'm getting a profile for, and I'm not getting anything out of that profile, except that we're above the point of control right here. So, and look at how see how the buyers are here to support it at point of control. Okay, so are we gonna find buyers bounce off of this and trade back up into here? And then it might build out, and you might get your profile here to be, you know, built out like this, which would be your weak top, right? And if you get that, then the move to the upside is more likely, right? Especially if you get buyers up in these areas here. That's the concept. But a lot of times too, on trending days, you'll get this kind of profile, and then you get another one, and another one, and another one. All right, so it'll just, it'll come up to these areas, and then just violently, maybe you get a big trade here, okay, right here. But it doesn't matter, like most of the volumes trading in these areas right in here and in here, okay? But you get this catastrophic break, and then it trades in a new area and creates new little value area in the trend. Okay, very, very typical in a trending day. Let's take a quick look. Is it look like that today? Probably not, because it's a grinding move. Yeah, see the grinding move, like it kind of, you can see how you're not getting that, like one profile, another profile. Probably earlier in the day we did, let's take a look. Early in the day, I'm sure we did, because these were strong moves, and yeah, you can see different profile, and then like, here's your low volume node, here's your profile, low volume node, big profile, kind of lower volume nodes, and then here's another big, big profile. Okay, and let's just be clear on this, though. And not try to look at this in a reverse lens here. What does this mean here, is what's important. Okay, it's a different way of looking at data. Okay, and a very statistical way of looking at data. And that's kind of the beauty of it. It just means that there's more trading in this area than there was in this area here. And what you extrapolate from that can be significant. Okay, and start to understand the shapes of these profiles, like your standard bell-shaped curve profile. Well, it kind of goes through it, and it tells you, whoa, that's too big, hold on. You know, you get this kind of curve like this, that it very cleanly tested this end, tested this end, and there's not a whole lot of action up here or down here. All the action took place in here. Okay, so this would be like, you could look at range balance strategies here, that if you don't see a lot of buyers up here, now, this is where I kind of, the volume profile starts to break down a little bit for me, because what you're looking at in here is the past. And I don't care about that. I care about what's happening up here now, like if it's up in here, like right now, up here. I just care about if, you know, you can look at your profile or whatever, okay? I just care about right here. I want the insight here. I don't care about all of this right now, because if, I know if there's enough traders in here, it's gonna come right back up to this liquidity up here or up here, okay? So looking for, in the order book, some insight to that, okay? So looking for buyers up here, looking for the context of less sellers, looking for them on the bid in here. You know, showing that there's demand on the bid. There's the supply is being pulled, and we find a aggressive buying in here to lift the offer, right? And then at that point, like in my book, at least the rest of this is, not meaningless, but it has a lot less significance, put it that way. You know, you can always zoom in and get smaller profiles. You know, that might be helpful for you. Okay, Luke, sounds like you got something that works for you. All right, Guido, take care. How do you pace moving averages on the book map chart? We don't offer it, it's actually in the book map marketplace. We don't have any moving averages. You know, we decided kind of early on in book map not to offer more typical kind of technical analysis because everyone else has that already. So yeah, we have, you know, we have some like the VWAP, et cetera, but stops in icebergs. I mean, that's something way beyond a moving average. And the beauty of it in my opinion here is that it's just factual data. It's not a moving average. It's not some sort of derivative or like, you know, percentage of volume versus price versus, you know, something which a lot of indicators are. All you're doing is just kind of, in my opinion, you're just kind of, you're looking at data that might not have any insight whatsoever. Stops in icebergs are traders and their behavior of trading. And it's just fact. Like there were icebergs, buying icebergs in this area and here, you know, and we went up. We can see stop runs at some of these areas as well. Here, 321. So all of this buying in here and it makes, this is where you can piece these concepts together of like, you know, this is a stop run here, okay? So we'd have to go in and take a look how many of these transactions in here are actual stops versus, you know, just market buy orders, you know, get a feel for, all right, well, if it's kind of like buying that isn't looking for higher prices, it's buying because they're exiting, that tells us something. And then here's your pullback trade. So you can, you know, Luke, you can take a look at that and put this together with a pullback strategy or a potential reversal strategy. You know, you can trade, if this is stops up in here, trade it back into the middle, trade it back to your high volume node, okay? This is where the high volume node can be really helpful, I feel, on your volume profile, profile and book map, yeah, for number one trading plan there, Peter, yeah. I mean, you gotta understand the vertical element of the kind of here and now. I mean, I've mentioned it several times, even Stadelmeyer was talking about volume strips years ago, the vertical volume strips, that's what's moving price. It moves it to a new area. All right, guys, well, let's see here, let's see if we can get our buyers back in again. Okay, this is getting a little more convoluted. Okay, we made kind of a lower high here, but we had some nice buying here, but we have some nice selling here, here, lots of selling in here at these lower lows. So it's not too clear right now, right? And we're also getting some buyers, but they're failing to make higher highs. Okay, so if we get selling down here at 67 and a half, like we are right now, let's see if we can get the sellers to break this and where we'll be looking for it. Now this would be, you know, a potential reversal, maybe 75, maybe 72, maybe 70. Okay, this is different structure and we're reading the volume within that structure here. So let's see, looking for our sellers here and then a break. Okay, we'd love to see more on the offer at lower level. See how it's dark here? So buyers can still come in and move it right back up here. Right, if we see something on the offer here though, I'm looking for this to dump into 76, 74, 72. There, there's a little bit there. Okay, and there's our move. All right, now how do you capture that? You gotta jump in. You just gotta jump in. You're looking for that order flow shift and you jump in, place your stop. It could be here, it could be here, it could be up here because you know that they could whip it back up to 80 very quickly like we discussed. They didn't this time. We're getting our follow-through in the move here. Okay, now we read this order flow in here and that's what led us to believe that we might move down to 72 and there's the move just unfolded, you know, very, very nicely and quickly. Is there any questions on this in here? Really just please ask me. Like this is pretty, it's not rocket science whatsoever. We read the, wow, okay, wait a minute, lots of selling, okay, buying here too but now failing to make higher highs and on some buying and still more selling here. Okay, looking for the selling to break the edge and then hit some of the lower liquidity in these areas here. Okay, now we can line up liquidity with structure as well and this is a good one here. I like it a lot. So that would have been my first target and I'd get out half a position on that. You know, half my size and then maybe try to hold a little bit more for lower here, 70 or 69. Okay, more supply up here, 75 and a quarter. The two types of CVP here, that's a great question. So one is Delta and the other one is just regular, both buying and selling in here, a composite. So this one here and then here's the Delta. So here's buy plus sell, this is buy minus sell. I really like it. I mean, I haven't really demoed this too much but you can see where, like, you know, who's taking control in specific areas and you can see that there was, you know, there's been significant selling, you know, down below this. Now, do we know that here? Not really at that point, not in the Delta. We didn't get much out of the, we got some, we got some out of it here. See all the Delta here and we're down here at this area. Okay, all right, then we're looking for our bottom edge and our move into 75 and maybe 70. Okay, but we were reading kind of the process here was reading the structure and the volume within that structure and we knew the structure was making lower highs and slightly lower lows in here and there was good selling down here and that's why we're looking for the break. And yeah, now it's trading into our 72 again. It's hard to say, it could easily bounce right back up to 75 right now. But now here's a question. And it depends on your timeframe. What, are we in a downtrend now? And if so, from when? What do you guys think? Yeah, looking at a book map before the trade, like I just look for that edge, that advantage in the order flow and then take it. And then I usually, I try to keep really tight stops. I wanted to give it something to work, give it some leeway to work, but I don't wanna get caught in a rip in the other direction, like this right now. We said it could come up to 75 very easily here because there was kind of dark here in the book and here's our move, it traded into the 72 and now we're trading right back up to 75. But the question still remains, like what are we, if we're in a downtrend from when? Yeah, right around in here. Ron, yeah. So, and you can see that it's being tested here. Yeah, this is where the sellers took control, right? And talk about your volume profiles, this is what the move, and this is what Stadelmaier refers to as volume strips. This is precisely what he refers to, right? Move the market away into a new trading, potential new trading area, right? And now for that new trading area to, we need to see if it accepts, right? Then you start to get into acceptance, rejection, and Dalton and Stadelmaier and they, you know, yada, yada, does it accept? So far so good, it's accepting. Okay, even with that buying coming back in, so this seems to be the new trading range now of value. Okay, so just, there's all sorts of information out there on market profile, auction market theory. Our education is also about it. Go to here, let me show you on YouTube where it is. I think, I think, especially for the newbies, this would be very helpful. Scroll down, and then bonus materials here. Order flow education book map. Click on view full playlist. Well, that's not it. I'm sorry, hold on, hold on. Educational course, right next to it here. View full playlist, these four. And now they're from back in, you know, 2018 or 17 or so. Doesn't matter. This is pertinent to everything we're talking about right now, right? So it's the older black and white, you know, it uses the black and white heat map here like this. It doesn't matter, like order flow is order flow, okay? So, yeah, and then that's a great foundation for coming then to these webinars and then we go through that same content. So really hammer home the ideas here in the order flow. Guys, if you like these videos, please give me a thumbs up there, give me a like. We find it very, very helpful. And yeah, we have Tom B coming up on deck here in about 10 minutes. And you can ask him about the volume profile in detail. He'll go through it all. Carmine, yeah, it was great having Carmine a few weeks ago. Yeah, really, really smart, smart kid, smart guy. I'm amazed, like I don't know where he got his kind of, he came such an astute trader at such a young age. He really knows his markets. Anyway, guys, you can see we've been chopping around in this new value area, builds out a new profile. And now we're looking for order flow within it though, right? You can still see, like even this is, you can see the clusters of, and this is what we want to read in here is we want to read two things within this structure, this rectangle here that I drew. We want to read the volume in these areas and then we also want to read the order book in these areas. Same thing we're looking at earlier on that grinding move higher, okay? And so far, I think sellers, I mean, there's more selling in here. Look at the size and the color of the dots here, okay? And then look at also the bars down here. Even this move up here, not bad on the volume, on the buy side, you know, it still looks like there's more selling to me. In fact, we can use the imbalance indicators here and that can tell us CVD can tell us as well, precisely, you know? So there, yeah, there's more selling in here, negative 9%. And we can use CVD as well to give us insight. And there's clearly more selling. This buying in here, there's still more selling, right? So I think sellers still remain in control from this high here at 77. So if we get more, if we make, let's see how we're getting now some input from the supply here on the offer, looking for our aggressors here and looking for them to whip it right back down into 72 and maybe 71 and a half here, okay? Careful here, I mean, because it's still kind of dark in this area here. And you can see, see how they fill that back in, the buyers. Right, we don't wanna see it here necessarily. We wanna see it down here. And see, we're back on the bid here. So we need to kind of read this in here. Do they mean business or do they really wanna buy? Is this an opportunity to buy and trade it back to the top of the range and then maybe even continue the bigger trend to the upside? Volume bar settings, sure. I can right click on here, go to the volume bar settings and here they are. Okay, I'm using very much the same thing. Smart clustering, it's all, you can apply it from or inherit it from the dots. That's what I do for the smart clustering. And then I just use volume delta here and solid bars. That's it. Okay, so yeah, here's our move. Like we're just talking about the move lower. Just didn't like it. It started to look a little bit better here with more demand or I'm sorry, more supply here, right? So that gave us more insight. Whereas when it was dark in here, we're like, yeah, I don't know, not really. We're looking for it, but we want it, we want not only within the structure, not only the volume we want the order book, especially on a day like today, because it breaks out and it's been grinding here, almost all webinar, right? Really strong moves here and then just kind of grinding move here. This is not bad. And this has been grinding up in here. All right, now the sellers are coming back in. Now, what's the question is, where do the sellers take control guys in NQ? Yeah, we don't need to go through the NQ these days because we were for years just going over the NQ, but this is moving nicely enough for a while now that there hasn't been any need to go to the NQ. Yeah, no, no, where does sellers take control, Luke, is the question. And this is again, something book map shows really, really nicely. And we talked about it. Look at the rectangle. All right, so anyway, we were bullish, we were looking for the move higher, we're reading the order flow in here. We got our moves up into higher liquidity and then we started to read a couple of different areas where potential reversal, one was here and then buyers came in here and moved it higher again, but we didn't like it until we started to see some of this in here and then it looked better that it was gonna go higher, okay? And then we started to read and it did, but then now we're getting our reversal and then we're looking at it in here and we saw that bottom edge in here and we read this in here really nicely, I think. We saw that again, just very, very simply looking at the order book, looking at the structure here and where the volume was trading within that structure and that's when we're looking for the break here and we got it, we got a retest here, we know the sellers are still in control. Well, we were chopping around in here and we didn't really have too much insight at that time and then we started to come back down here and yeah, I didn't really like it. This was a little too high in here. This looks a little bit better on the offer here and then we were looking for our sellers here. We just wanted to see more in the order book for the break. Right now, here come buyers trying to retest back to where they just dropped it from here. So anyway, the answer to the question is still here, 77, right, this is where the sellers took control. Right now, let's go over this one here and we're getting into these smaller time frames. Remember, these markets are fractal. We can go into sub-second levels and I'll show you and we do in our education and we can go through that and extrapolate that out to this level here on this timeframe. We can look at the entire day using the same analysis. So here's our move lower. Now look who's in control, they kind of took control here but most of it is trading down here, right? And this is where we want to be aware because they took control more down here than they did here. Okay, now watch. Do we get buyers back up above 71 and a half? Now I recall 71 and a half was also that pretty big iceberg level several minutes ago. All right, I don't know if that applies or not but we'll see order flow around this area here. So what we're looking for though is this selling in here and then you can see buyers trying to take it above them where they did but they weren't able to follow through yet. But this is kind of another key level here, 71 and a half above or below 71 and a half. Right now it's below it. So yep, still looking for sellers then, okay? Down into 68, but I'm curious though because like looking at that, again that volume within that structure is what gives you a lot of insight, right? So if we can get back up above this 71 and a half on some buy volume in here, like all of these sellers in here, they've got to flip. Right, they'll become buyers and the squeeze to the upside here. Okay, so we'll look for that scenario. Now we're gonna look at, again, we'll look at the volume, the structure and the order book in here. Now this is our European close here, 11.30 so we're gonna get a little bit of back and forth in here as well. Makes it a little more, a little harder for sure. There's just lots of bigger players doing many things into their session. All right guys, well, let's see. Yep, thanks for the thumbs ups that's helpful for us. And let's wrap it up and this will, we'll continue on tomorrow with JTrader and next up we have Tom B. So continue with the education there. So yeah, thanks for coming everybody. We will catch up with you tomorrow with JTrader. I'll go over I think for the first few minutes, some of the S and P he comes in a little bit later. All right, yeah, you guys are welcome. We do this every day, David. So this is the bookmap education and it's all free. Okay, yeah, thanks for coming everybody. Take care.