 Good morning traders and welcome to the live trading webinar here at book mat with Scott Balsini a futures trader We do this every Thursday at 10 a.m. East Coast time and Scott as you know professional trader, maybe you don't know his history and Scott however He's been trading for over 20 years and has a very unique story. He was written about in Brett Steenbarger's Trader performance book about psychology etc. very popular book and anyway, let's jump in here and I will post into the chat Scott's contact information. He does offer mentorship And education. He has a trading room and educational course etc so we need to go through the Disclosures here and then we'll jump right in All right general disclosure, and this is important. So please listen All book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations Live trading is in simulation demo paper trading mode and strictly for educational purposes live trading Executed in simulation cannot accurately represent realistic trading performance Just one contract will make a difference. All right, so Our simulator is excellent within book map. However It's it's not the same as live. Anyway risk disclosure trading futures equities and digital currencies involves substantial risk of loss And it's not suitable for all investors pass or You an investor could potentially use all or more than the initial investment risk capital is money that may last without Jeopardizing one's financial security nor lifestyle only risk capital should be used for trading and only those with sufficient risk capital should consider trading Past performance is not necessarily indicative of future results. All right, so what Scott is just Coming into the the webinar here. He'll be here in just a second was just looking at the S&P e-mini so Pretty pretty choppy here at the moment On the way down though, as you guys can see But a lot of chop in this area here. We are below the 4100 as you guys can see here right, so I'm very curious to see what Scott comes up with as you guys know. He looks at the stops and ice bergs on multiple markets Up to up to 20 different markets. He's looking at and he's looking at the Stops and ice bergs in the futures markets to clue him in to what's going on So it is an alert. It is not a signal And then he goes in and takes a look at what the event is Doesn't meet his thresholds if it does then he is interested in a position He looks at the bigger picture. He uses You know volume profile and some other elements to Look at the bigger picture, but it is the real-time volume here in bookmap that gives him the the insight for Making a trading decision Present back. Okay, Scott once you go ahead and share your screen and Then I Can broadcast it Yes, you're all set This is Naz, I could just say a couple of back-to-back Stop runs here by stop runs you see 176 here and then you have another 185 here, so I just made this one big zones is 50 point zone Which is not crazy big, but it's not small either ATR right now five minute ATR is 37 point two points So I'm waiting To see which way I want to trade this based on how we break out of here Bigger picture stuff. We'll start with Nasdaq I mean you can basically make this one bigger balance here. We're kind of just teetering here, but The event yesterday This balance here. That's a failed breakout That is bearish and then you led to this look at this move down lower We caught some of this in my room in the S&P S tray this moved down And you can see now all we really did was retest The nice two-eyed eyes for IDS 150 contracts retest the high volume out of this and failed so Again, this was signaling something was up where this didn't launch through here yesterday And that was a failed breakout and now we just we can't get back above this high volume node And now we're kind of just hanging here. So This could easily come back up here and keep forming the bigger balance Or this just collapses So this is you can see these zones that I draw These zones are all based on the four important areas of charting. So tops and bottoms of balance areas Or one reason you can draw them Directional conviction There's another gaps or directional conviction as well. And then the other Two important areas are high volume nodes, which we just talked about on this other one I don't draw those as much just because I don't want too many lines on my chart and then buying and selling tails or I'm very important as well As you see here in this zone this actually I try to draw them back to where they're you know where the relevance started You can see here. This was important zone selling tail selling tail directional conviction directional conviction Directional conviction and then we came up here again, and then we couldn't get through this zone again Gap down directional conviction then we finally got through this zone and then you know It's just like any other charting aspect as far as Resistance now becomes support. So we finally got through and it's service support, right? So You can see it's still supporting in it try to get through it here is another buying tail So that is short-term bullish that it's holding here But as far as this stuff it's most recent stuff I'm still leaning for that But this could hold and just continue to build this bigger balance. So this is Now this is a zone you can trade either way is what I'm saying right because this is a bigger balance area So we're just waiting to see what happens out of here out of this stop running I'll play either way so then what I do to try to decide if I'm gonna be aggressive or not as I use Blood wig levels we call them lugs in the room very powerful, especially when you can overlay this real-time buying here So you can see here we're above the yellow lug So I typically take trades aggressively to the long side above the yellow lug to the downside below the yellow I will take set up. So for instance say this turns into a better setup that zone I just drew right well since we're above the yellow lug I will wait for full ATR retest failure, and then I'll go short right so I need to see that to go short Now the long side I'll go along aggressively The other stuff I look at is market profile composites, which is just basically the bigger picture stuff I was just showing you just frame it in a different way. So I like to draw composites when multiple days merge value areas and days merge 70% of the trade for that day if they merge and I draw what's called a composite and you can come up with a story of What's going on based on how it's reacting to these composites so you can see here We opened up we tried to break down into this bigger one and we rejected it now We accept it right back into this one so This if this accepts now we had the volume set up Which is perfect right at the bottom of this if this holds then I'm expecting this to get back up here Right, and that's all in line with what I'm seeing here with this Here so what I want to do for this trade is get in this aggressively to the long side If we break out of here, so the way I do that is I look at my 5-minute ATR you can see here 36.93 That's that right there. You can see it here. It's just an easier way to look at it Current ATR is 36.93. So 37 points While the zone I've gone I've now gone a little bit outside ATR If you guys remember I used to be like 70% of an ATR than 80 then 90 and I kept getting ticked You know, I would put in my order 90% of an ATR and it would come up here It would fill me that exact tick and then do that so then I I gradually now I'm moving It's not worth the few points. I'm trying to save Because you have these algos that you'll pick up these volume areas and they will revert it once it gets an ATR Away from there. That's nothing's going on. So I've now gone a little outside an ATR from my entry So that means I'm gonna get in you know, it's 37.75. So I'll give it two points outside So I'll go 39 points out of this zone You can see this known as large and I'm going 39 points out of the zone So I the most I can trade here is a one lot right because of the risk involved and talk about this every week You know certain traders don't want to risk that much that you know, they they want to try to make 40 points risking 20 So again guys, it doesn't matter what you want to risk them or it matters what the market deems important, right? This is an important volume area. The volatility is pretty high You've got to place your stops outside of volume areas and use the volatility to judge that and if it means risking more You've got to risk more because on the on the Flipside I have an opportunity for a bigger move because of the volatility. So it's just it's all Not relevant, but I can't think the word I'm looking for it, but It's all tied together So the point is if you're trading where you're just putting in trades in this or yes where you say I just want I want to put in a you know, I only want to So I'm trying to make four points risking to you guys. This is not It's just not viable with these algos that run 90% of the market 85 to 90% of the market You're going to get whipsawed almost every time So I know I go over the same stuff every week, but you know There's new traders on here and this is the most important aspect You know if you're trying to scalp you're not gonna make it if you're doing it by hand if you know how to write programs and you have a Fishing program then you may be able to compete with the bigger this big money in the algos But other than that you have to use these volume areas to judge, you know where your stop should be and so on a software, so The tier is now up to 39.9 so we're looking at 40 points now So we're talking 40 points above here is 25. We'll go a little bit outside there So 27 will be my entry Again, the most I could put on here is a one guy Waterboarding here you can see these fang stocks again. These are the highest way to stocks in the In the indices that drive the futures right so it's who do you have something like this? This is Called tick strike talk about this every week, too And again, these are meters so these goes these go from Take a look at so again, there's a lot of stuff going on I About to get filled on this I filled Multiple concentration here, so I'm trying to So now that I'm filled my stops got to go in ATR below this zone this yellow zone where all those stops fired, right? And that's the way I trade and the way you should trade as well because you want to get it This thing can easily pull back in here and it really means nothing, right? It hasn't violated this area that I drew, right? So I make the market get back through this entire area a full five-minute ATR below here to prove I'm wrong other than that if you're placing, you know, if you're getting long right here We just went over this but if you're getting long and you're like, alright, I'm in height But I just want to I want to rest 20 points. Well, you could see here This is these are algos playing games, right? And this is how they take everybody's money So I make them prove they can get through here. So my stops gonna be 40 points below or yes, it's a large risk, but I think if this thing gets rolling I think we can cover this entire all the way back where this directional conviction started yesterday Because we did hold this zone buying tail. I think we can get all the way back up here So that's you know 200 points away. All right, so I'm risking probably a hundred to make 200 That's a that's what you want in your trading you want usually at least two to one in your risk reward Every trade is not going to be that way You know, especially if something happens now and I have to get out because of our imposing setup But that's my you know when I put on trades. I I think that can happen and then when you look at this, too You know, I think the minimum this can get to now You can see we're just kind of struggling at the point of control, but the minimum is up here 12-7. So We'll see again I only have one on so I got I'll make a decision when we get up there if I need to get out But I'm trying to see if we can get to see where the red lug is as well So this the red lug is right around the top of this as well So we'll make a judgment when we get up there. I usually get out at red love So this is basically a one-to-one trade if I if this works for me because I probably won't mess around with the red I'll just get out and wait for a new setup You want to keep an eye on this relative I am Talk about this all the time as well. This is telling you this is exact time period for the last 30 days I have my stuff for you can set it for whatever you want You can put it for the last week last three days whatever mines for 30 days so you can see pre-market There's some stuff going on here, right? This is a lot of mine and now we're trying to get above all of that So all these aggressive sellers pre-market are now sweating it and in about two You know like we just saw the first stop run, right? That was a puke stop runs are pukes I would expect with all this volume that came in pre-market that are now about to be underwater You're gonna be seeing some more pukes on the way up, right? So the way you can judge these two or mark these you can mark these just like SI indicator zones, right? This is where all this volume came in. That's the zone So if we bust out of here, we may return and do that But this isn't you know you want to pay attention to this stuff And then you also want to pay attention to when this starts to dissipate when that happens And then you're looking at you know this type of trade you can see here how the vine was terrible Obviously it was overnight, but it doesn't matter. It's all relative, right? The point is these were elbows just whip sob back and forth back and forth take your money until the big money comes in and runs I'm over right so Right now, you know the onions pretty pathetic, so I would not expect You know until we can move a little higher with this me do one of these and that's why you don't want to be putting Your stops close because you just are gonna get whipsawed right out of the tree Now let's take a look at soybeans. There's a lot of stuff going on there earlier already drew some zones in here Any questions on any of that bruise? Yeah, no not at the moment. We're pretty good That's some cell ice coming here at ES We'll go over some of these 228 contracts We want to trade that unless there's ice bruise and they're Kind of banned that for my trading because it's just stop run after stop run back and forth whipsaw. So anyway, this is So he means Get some big by ice. You can see all this bias here earlier. This is 214 another 300 another 250 or 300. This is a very important area and now it's kind of You have some doing nice in here too, so that's Scott, let me let me know if you wanted me to cover the sliding window in a little more detail For yeah, we'll go over that here shortly because this is actually in sliding because I wanted to see the difference between this Versus This looks like on the so I have this computer at reset mode this book map on reset mode just so I can see the Difference, I don't have this almost run obviously, but you can see when you have a reset mode it resets every minute Yeah, yeah, it's gonna. Yeah Well, we'll come but let me make sure I'm just gonna keep this zone in right here that I haven't in play off of that So that's step one. I want to see bigger picture where are we should have all this done be pre-market, right? Before you start trading your markets know we're at because this stuff doesn't change as much as the shorter term stuff obviously, right? So This is an important area you can see your directional conviction Selling tail led to that move directional conviction So we did get above there and it did a act of support resistance was in support and support and then it broke through So now again, this is still an important area that this could fail if it gets above here Then I think we can make it up to these areas So I mean because this is the most recent thing that happened, right? I mean actually it did start here. There's one of the four important areas There's a selling tail and then it kind of kept going here, but you know anywhere in this area I think this could pause so you have to lean more for that than that because of what happened recently But this is where you know if you're you're a trader here. No, you have his bar charts You're like, well, what do I do here? Do I play this as a fade? Do I play it? You know once we get above here to do that you're just hope you're just, you know Relying on bar charts. Well, this stuff is the most important thing you can be using right? You want to see what the big money does doing and the dumb money is doing in these areas And you can see somebody is in here. You can see this iceberg on chart as well Somebody's in here really buying the crap out of this thing, right? You can see it There is some selling to you can see is some sell ice, but overall and cue my size for buy and cue 150 to contracts this market is coming back Did I ever put my stop in here by the way? All right, so we're gonna go a tier right now is 44.5 So we're gonna go Let's just make it a cool 50 points below here 85 That'll put me below that spuck ammo level two. So, you know if I this fails Well, this is a add a one lot on from which I'm risking here, but that's another 40 points Yeah, that's about right in one line. It's right. So again, I have that spreadsheet in my trade room I keep getting requests for this. This is one of the purposes of the trade room guys So if you want this then join the trade room, I just lost it It is All right, so basically out what I was risking there was in the size of the house risk like 150 points there That's a lot of risk, but Still think I could put up one so that but the point I can't you so you can see yes right? All right So if I need to be risking more than like 80 points or what is it and I I get to a hundred points in risk in ES which does happen occasionally I can't even put on the trailer. Well, you can trade microbes, right? But I was just was seeing make sure I can even put a one lot on as I can you can I can't always have to like I think it's like 200 points or something or basically I can't trade based on the account size. Yeah, see that like 250 points So, I mean I have the right size on and my stop is in an area So there was be pre-market. There was a right one at the open There was a well the six setup my most recent setup and I'm gonna put out of my new course that should be done here soon It's called the step brothers where you get by Stop runs and ice in the same direction so that I think this was this right here Yeah, sell ice. You can see it was a cell stop runs and sell ice. That was this area here So what I normally do is I do not stop out in the middle of a prior zone But I'm already risking so much so I'm gonna take it on the chin if this stops me on anyway But normally if this wasn't such crazy risk, I would put my stop below this whole zone I don't like stopping Right, but if you know if I could stop down on that trade that is really good information that means this thing I think is gonna die so See the vice so this is a double whammy setup. Let me get this out of here because this is So you can see this is still coming in 800 by ice and 515 sell stops. So this is the dumb money the retail trader again Don't be offended. I'm a retail trader nowadays to into the waiting hands of big buy money big buy ice right hidden orders So we're gonna draw that That is called a double whammy one of my six setups Appropriately I try to color the double whammy's dark blue and then we will judge if this breaks. This is gonna be a quick trip down And the other the other thing we'll look at a spot gamma spot gamma basically says if we breech this 4100 area SMP ice for by ES 700 Tom Bratz Crew numbers come out five minutes And natural gas So you can see someone's in here by and trying to hold this up right here, right? So this is yes, so if this breaks, this is say good night in my opinion See here It's an important zone. This was yesterday's balance You can see we retested just the bottom of it held this zone was important directional conviction back here directional conviction Gap down directional conviction selling tail. So this is an important zone So this this zone breaks and you can see there's no structure until down here. So this zone breaks I expect a straight straight move down into these areas the 4,000 areas of spot gamma level It's actually just below it, which is pretty confluent with this most recent balance This you see colored here was a ton of buy ice. I think if we break this zone, which is Looks like it's about to happen to quick trip So like I was saying, you know, I'm gonna take it on the chin in this Nasdaq trade But then I will be looking for some short setups and it's gonna be glorious as you can see here There is just really you got this little little stuff right here from last Wednesday Other than that, there is no structure till down here. This could be literally a you know Pretty quick trip 500 plus points. So if you don't think that can happen it can happen So spot gamma quickly, you know, we look at this every day as well I Mean my stopping on my stops and my other comes Any questions versus firemen what stops and yeah, no no questions. All right, so let's see this can hold It's not looking real promising. But again, this stuff breaks. It's gonna be glorious to the downside. So Let's take a look at her. I was gonna show you spot gamma, but let's we're right at the yellow lug and You can see like if this breaks And we get some waterboarding going starting right now if this breaks And it's chance we kind of fail the point of control If this breaks we get into this this is gonna be a trip into this guy and probably lower so that's Nasdaq Not looking promising long really nothing here. This was just just yesterday. So let's But we are below the old log so I can take this trade aggressively out of this zone You got more bias in here another 750 another to your stop run So I'm just gonna make this one bigger zone. You could make this one zone on its own actually Let's do that. So I don't have to have as much risk on this trade if I end up shorting this So this was the most recent one right you see 740 another 740 another 740 by ice another 700 stop run That's this we'll have to make it a different color. So I'm confused myself You'll trade off of this you always want to defer to the most recent setup with your trading and you know get questions all the time My room will prior zones. How do you play them? The only time I'll play a prior zone if other things have fired up after then if it leaves the directional conviction, right? So like I was talking by yesterday We caught this short in the morning Let's move down here Right, and there was a bunch of this. There's a setup of a double whammy setup Actually, I'll show you that right here quickly Just today Let's just get for you guys to see you know see these subs. Why is this not scrolling for me? So it'd be nice to like ice for as he has 150 contracts. So this is this We took this trade yesterday. I took it aggressively because it wasn't that important zone We can go over that but you had a bunch of cell ice Here it was actually double whammy's this cell ice made these stop runs look tiny But these were both 500 and this is the short we took in my trade room I was torturous for a while and then we broke like 60 points So my point is I told I told the room yesterday because I took off for golf in the afternoon I said if we return to the zone no matter what happens down here, you know if these lower prices 4100 when we return to this zone It's still important. You can play it on our retest because it led to this huge download Right, so that's when you want to play prior zones All right, so we'll see what happens here so I could play this did I get stopped out of Nasdaq yes, I got stopped up to the tip. No still alive for now I cyped for it sell empty 153 contracts will learn that gas here to it. That's the number coming out So it's obviously there's going to be some big players in there But we could still play it after this number after everything subsides subsides a little bit So now this is the most So I will play 161 contract So it would be very scary being long both these markets, but I mean so this is the point right like this thing looks like it's going to die Right, but the real-time volume is telling me It's not ready like you're getting this if this gets a little higher This gets an ATR above this these zones that I just drew that's bullish Okay, if this thing is truly bearish right now, you shouldn't be seeing bullish real-time volume come in Right, so I'll I'll play it to the long side again. It's a little scary but So this zone was at 76 quarter ATR in here it's 10.76 So do we get round up so 11 points? So to play this like we got to be 11 points out here up to play retest failure Right because I'm we're below the yellow lugs So I wait for read full ATR retest failure So we did we get up to 88 we did not but I'm sorry 87 top of this was So 77 quarter is 11 points We got almost so this I'm talking about guys like look at these algos When you get these events these volume events when you get an ATR these algos come in and snap it back Right, so here's the so we retest this zone And then fail back out of here more than an ATR. I will go along this market But again, you want to wait for the retest failure. It's not you can't get in, you know Do we talk about this all the time? This is the science Right the art is how you play these zones the way I play them if I'm going to be conservative in my entry I wait for a full ATR I wait for the retest then I wait for it to get above the ATR And then I'll go along and then my stop goes an ATR below you can say Uh, I love this. This is a bullish setup. This is my you know my 14 things I have in my chart Which a lot of you guys have which you shouldn't but you know this is all pointing to bullish I'm gonna I'm gonna buy this as soon as it pulls back into this zone. Okay, you can do that, right? And you're not risking as much but the odds of this You know again, it's a much better odds trade from my experience if you wait for it to get an ATR out of there And then play it right so but you can do it every once your money This is the science. There's no disputing what this is how you play him It's up to you. Right, but I do these webinars to show you how I play So you can see here we did retest this zone this first one that was that But I'm not gonna go long off that I need to see a retest of this zone If not You could again this happened first This is the most recent this this light blue zone. So that's why I'm waiting for that But you could possibly play that I boy I again if I'm going along this I'm being very conservative because I think this thing's gonna die So if we do that that that I'll go along Especially because then I'll be long both these markets when I think both of them are gonna die So again guys, it doesn't matter what I think, right? You can always have an opinion always want an opinion You want to come up with you know when you look at your longer your bigger picture stuff? You come up with what's called a thesis, right? But you're ready to flip when things don't work out, right? And many many times of what should happen or what looks like it should happen when the opposite happens The move is that much bigger, right? So you can see we're just bouncing around the shield of love right now in ES So I'm still waiting for retest failure. I will go along And also the short the short idea is Out the window now for for this particular setup Because we got it for this one because we got an ATR above there, right? So I can't shoot so for instance if this were to do this turn around And then And then break this zone Well, I can't play this as a short setup anymore because we got an full ATR above here That's just the way I do it is to qualify to sell from a short So if we do do that then I need to see new setups and then I'll then I'll go short aggressively Hopefully that means something. I still think this is gonna die, but We shall see All right, so I'm just hanging around here. This is a huge risk trade, but You know, I didn't do anything wrong here. I played my rules my stops where it should be You see, I did stay outside the ATR the first time and I avoided that stop out So that hopefully will hold. It's not I'll take my loss and I'll be looking for shorts All right, let's uh, let's see what's going on while this thing does nothing See what's going on Soybeans Don't hang around the zone More huge by ice. Well, I'm just gonna make this one big zone Again, I mean, you know, you've got to just adjust to what's going on Like I don't like to make you know 10 point 10 cent zones and soybeans But this isn't really important. You look you see all this this is huge investment Right and you got to remember there's someone on the other side of these trades So there are a lot of traders loaded up in this area I can almost guarantee you whatever way we break out of the zone is going to be a monster trade Right And then you kind of I try to judge if I want to get in aggressively so on and so forth So let's just take one more look so I don't remember what I was talking about on the smarker because it feels like it was a month ago Above the yellow lug market profile This is looking bullish. We are back. We This is the most recent. This is a two-day composite here yesterday on the day before you can see that That's this we opened up launched out of there I could probably delete this one from before and now let's do that just so it's not confusing Let's see what that was So I'm just gonna that was over here. We're ready to trade up and down through it So I'm gonna cut that one off You guys you get all the part of my trade room you get all the I have all these templates in there too So you can literally just import this to your seer chart And you don't have to try to build it because trust me seer chart is cheap for a reason Because you got to do everything yourself and I mean everything you build a bar chart Like you have to build the bars. I mean it when I first started playing with this thing It was like it took me like three hours just to build a bar chart So just realize, you know, this thing is very reliable and you know, you can use it And it's very cheap but it's cheap for a reason because you have to do everything yourself. So anyway This is looking bullish from this story standpoint. We ripped out of this one this morning And now we're holding inside here. So if that and then this is where all this biases So if this breaks above Next stop Should be up near here. That's 20 cents away and maybe higher, right? And I know we're above the yellow log so I can take this trade aggressively out of the zone So then what we do is we look at the atr. You can see right there 3.39 5 minute atr So I will go a little bit of an atr outside of this zone and I will go long So you got to you got to take into consideration. This is a 11 cent zone, right? Atr is it's going to be what I said 3.39 so three and a half points to get in Then I'm going to have to be three and a half points below the zone For my stop. So that's seven points plus the size of the zone's 11. So that's 18 points of risk So then I go here to see, you know, I have my account value size in here to determine This is what you show every risk in 2% of your account size, right? And it's the same as es It's 1250 a tick. So that's I can just use es for this. So I said 18 points There you go. I could put on a three lot right to be only risking 3% of my or 2% of my account size So now This breaks three and a half points above here So that's 28 75 29 quarter I will be long or Bruce. How do you set up? How do you um get fill alerts? How do I set that up? You know, it's only been three years since I've been using this. I figured this time I learned that Um, yeah under Under, um settings Wait, I'm sorry. Did you turn down set it again under settings? Settings here and uh, yeah, and then it's under, um I think it's trade trade configuration Or maybe configuration. Yeah try configuration. I don't I don't actually I don't think this is it but um Um, well, I don't feel so bad now. Yeah, I mean because I I use it so infrequently basically when I when I just turn everything off And uh, because I I don't want to be interrupted with a trade confirmation or alert Yeah, let me let me take a quick look and I'll get back to you scott Okay, all right. So in the meantime, we'll just put a normal alert here Vacation alert I get this sound a bike belt. So I know if I get filmed, but So hanging around in the snazdeck Oh, you you mean a audio alert like that No, if I if I so if I come down and get stopped out I want to hear that I got stopped out. How do I do that without putting an alert in the cloud notes? Oh, okay. So so uh, uh go up to settings again and configuration And book map your your main book map chart Yeah Yeah, and uh, and then down below it sounds enable sounds on on trades at the very bottom Okay, so you can't but you can't do um, you can't do individual songs for different markets No, um No, that's it. Okay rule on that Um, but that's fine. So so what what does the songs sound like? I mean, I guess I can that that was it that Uh notification that you just heard It's the bell sound. Yeah Okay All right for some reason that the zone does not hold. Well, that's that's telling me something's wrong, right? This should this is what I was just talking about Just looking at this this should Oh, this is soybeans again Based on this and this and it's holding this should hold here and do this if this turns around and this This by eyes zone breaks, which is one of the setups broken ice That's telling you, okay, something's up and we're probably gonna get a huge move the other way Right, so I'm expecting my thesis is bullish But if this breaks then okay, I got I have to change my thesis and then the bigger moves probably happen And obviously the downside, especially with this kind of size in here. So I will I'm going to put an alert here We'll three With three points below here just to let me know that sums up that we got below here Yeah, I found it Scott when if you want to see it visually as well Okay, what so so go go under um settings And then and then scroll down to orders related dialogue configuration Just kind of yeah, you just passed it underneath the reset Yeah, and then in here, um order confirmation You can you can put something in there now a window will pop up basically So stop if you already get your stop orders or whatever. Yeah, if you don't want the window then just leave all of these blank As it is. Yeah, good to know for everybody else too for them to Know a lot of trade it or know what to do um All right, so All right, this is this is held. I mean this is why I got long the first place We're inside here I need this to get above this point of control and then we're probably gonna make it up to there up to there So You can see guys like, you know, this is still is not a winner. It's a good turn around But the point is how many guys I guarantee you some guys Tried to mirror me on this trade and they put their stops right here Like, you know, right now they're still happy But if this turns around and goes like this You're going to be kicking yourself that you didn't put your stop outside of the volume event Right, this is called algo city And you can see the volume is not it's not horrible, but it's not great so When this volume starts to dissipate and it's then it's go time for the elbows, which is usually Right around 10 o'clock central, right? This isn't terrible. It's about normal But you start seeing this thing get like 50 70 60 percent And then you're just going to get this until the big money comes back in I am surprised I mean, technically, I guess let's see where this where this big volume started This morning This is another thing you guys want to watch too. Let's see This part here a lot of times it will still be in the range. Yeah, that was the first part here barely had above there On this attempt here But a lot of times you'll see range range range range and all of a sudden you'll see a spike in the volume It's still in the middle. You know something's about to happen Right then when it gets out of there because traders get loaded up and then they got to puke them out That's literally it's that simple, right? So anyway We did get we did poke the head above that's where I got long. I thought that was go time But I buy what we willing to bet and I'm betting with my long position that if we get back above there Then you're going to get the rep but still not out of the woods yet. So we'll see This is a lot of risk on this tree We tortured with that for a while Kind of lost track of yes here and see what's going on here I still have not retested this Latest double whammy zone this light blue zoom So you did get An atr above here now as well. This is prior obviously again. That was the first one But we did get an atr above there too So you could play that I'm still going to wait for the most recent retest for me to get long this as well So I go read I'll go retest failure right now just retest That's just you again. You can come up with a trade plan, especially in important areas where you're like, okay Well, this should hold so I'm going to give it a shot I'm going to buy it right there and just risk an atr below there instead of waiting for that But I'm just telling you out of the thousands of setups that I've watched. This is the best entry The most, you know the safest entry I should say All right, let's see what happened in natural gas again guys This market is the most algal ridden market out there. You can see by the Christmas tree look But that also means when the big money comes in these algas get smoked and this oh my goodness I didn't see this. This is right after the number. This is huge. So I Let's mark this up. Hopefully we're still around this Little waterboarding in case you want to watch the stocks, but I didn't miss this trade This looks like it's going to be a whopper So you can see all this I got this drawn correctly. Yeah And there was even another 180 which looked tiny in the middle of this. This is a Really important zone. So let's see how I want to trade this lugs Well short side again, I don't take trades So I don't take shorts or this close to the blue up, right? I'll wait for this to break make new lugs and then I'll go short. So I'm not that upside I didn't go short here I mean the setup was up here So that's a good example of setting up your market profile too. So you can see these are individual days, right? So this was yesterday. This was the day before this is the value area It's just where 70% of the trade occurred during the day The middle was just where the most trade occurred. That's the point of control when these overlap I make them into one and I that's now called the composite and that's the blue. All right, so let's merge that And actually I can merge these two as well. This was the holiday and then that and then these Over this overlaps that so I'm gonna make this one big composite. So it's like a four-day composite Merge Sorry, what's the story? You can also set the subs so you can see it hour by hour or half hour by hour See we opened up here Couldn't get inside this guy failed Accepted on the air now the expectation is the minimum the other side All right, I already got through the point of control. So I'm fully expecting that. So let's see I could possibly Let's see here The bottom of this zone was a 8666 that's the most scary Little double stuff Yeah, I mean if that retest the problem is let's look at area to ensure the atr is insane Yeah So I take that back atr 74 ticks So I can't go short that setup because I'm gonna be shorting right into the blue log and I just have They're extremely powerful support and resistance areas so This kind of you could What I could do here what I may do here In this market retest probably Tied for a close second next to crude and gold as far as you get the big area and it'll come back and retest What I may try here. This is not the normal number. I said I wait for atr retest Well, you know, if I go atr retest and they get in an outside an atr 170 plus ticks outside this and that Blue looks right here. So that's not a good entry. I may wait if this does get up into this I may get short in here and then put my stop an atr above this zone. So that's very aggressive I don't do that usually but I may try it here be just because this is I want to take advantage of this This is if this does this and then this you're going to get a monster move lower Let's take a look at our bigger picture stuff We're promising So this is the open gapped up. This is right after the number Now this is still Not terrible looking yet, right? This could do one of these but if we get through this guy in this zone And we're doing one of those I will play to the short side The long side is disqualified though, right because we got more than 75 ticks outside of here. So this was Just say 86 86 87. Well, we've got almost 100 ticks outside of here So I could not even if I wanted to go along this This has disqualified itself as a long because we got a full atr outside below, right? So now I can really take his shorts And this short is not viable because the blue looks so close But I will take it if we do get up in the zone and I have a feeling we will Then I will take a short in that zone and I'll risk above that zone. So let that play out So let's put a little order here just in case we Do get back up here This could be good night greasy Are we being still nothing? Yes Never retested that zone Still done money in this dog What we'll see that noise is a natural gas by the way. They're just absolutely killing it So in normal circumstances, I would have been in short this aggressively out of this zone Right because we're blue the yellow log, but I wouldn't have done it That close to the blue love like we said, but now you can see we're getting below this blue lugs So I'm hoping that we get new lugs So this would actually be the best scenario, right? So the cell ice was up here monster cell ice like close to a thousand We break here if we build new lugs And this comes back retest and then I can go short because the new blue lugs will be way down here That would be ideal and that may happen very likely that would happen. Actually, this this will be interesting to watch Not a lot going on Besides natural gas getting hammered Again, this is tick strike. It goes from level 1 to 15 I have mine all set at 11 because I only want to see one series So you can hear it and see it There's discounts on my website click on the banner on my website you get discounts to that All right, uh, no questions Bruce It's pretty surprising. Um, no, there's yeah, there's a bunch I've been answering So I'm pretty good there It's like there's a lot of breath holding in the smirk I was saying that yesterday too before that huge drop like it's huge size at that big double whammy zone And then it kind of like just sat there for 40 minutes and like you can feel the breath holding and then it just died So that kind of feels the same here. It is interesting. This thing is just not ripping. No, we know all know these markets, right? They usually They don't just sit around they rip. So for this just to be sitting here It's still kind of making me nervous that that's going to happen as far as my Nasdaq trade But again, if this breaks and this goes lower Oh, so what I wanted to cover earlier that I forgot it's a spot gamma Kind of lines up to my to the structure stuff, right? So we talked about And we break this zone. There is nothing here Right this this gets below the and now we're actually even building balance below balance, right? So if this breaks this blue zone, whatever color that is there is nothing here until this stuff Right, that's a straight shot probably 100 points. And then if you read This spot gamma you can see here. He says he's been saying this for a while For these reasons he puts his reasons up here. Um, basically they're selling and every time we rally they're selling So on and so forth Um, for these reasons we now think that a risk of 41 4142 on a range break to the down is to the downside, right? There's still a depending on the break of 41 leads to a quick test of 4,000, right? 4,000 remains a large support in the next week So that is right in line with the what this with that bigger picture chart looks like right in 4,000 and again is like 39 90 something here. Yeah, so you can see it here right there So remember he's talking about the spx, which is the cash and this is the futures So that's equivalent to 39 94 in the futures Which would be be the top of this Can you make this a balance too? Right, that would be great right around in here in this zone So I think if this gets motoring down, we're gonna you're gonna see that in a hurry and again the options Supports that as well the options info So that's really good information guys when you say stuff like that pay attention Because when it happens it usually right on the money when he starts talking about Important levels breaking and Quick trips when he says stuff like this pay attention because it usually does it and there's the hero indicator That he has that shows real-time options before you can get it for through book map or through his site I have it on here just because I got so much on my book map. So it'd be nice to like iceberg buys. Yes 158 contracts It means here again second. I just want to see what these look like It's spx Really nothing so the blue Whatever color that is So the options a lot of times you'll see Like the options will be up here. So it'd be nice to like iceberg buys. Yes 170 compress to all happen in that zone will come out in a second But you'll see like the market, which is the black down here and then you'll see the options up here And then the market will turn around and it's not a red light green light Signal though, so don't you know the minute you see a divergence Don't just be buying because the divergence is what I'm saying But many times you can see a big divergence, especially if you see like a straight line That means big money just came in and did something with the options be just be ready Right, so this was really not telling me much. Right. This is just choppy And then the market's really nothing in there all right, so soybeans Just more whatever way this breaks is going to be a whopper another 415 buys Still coming in 186 contracts So It would behoove you to you know, even after this webinar pay attention to this area because you're going that guys these these are the markets you should be watching You know, so when the markets suck like these the equities do right now You can trade this you can trade natural gas. It's all the same stuff. The volume is volume trap traders are trap traders Yes It doesn't matter what futures market you look at bonds Silver we Doesn't matter Let's see if I think I've missed something here or some bias earlier looks like we got a tier retest Again, they're always perfect if I miss them So here and see a tier in here is 3.74 So that would have been Actually, that was that here's your retest here's your failure over and over and over It doesn't matter what market you're looking at and those are the best trades where you can get retest failure and then get in So I obviously missed this trade regardless of where we are in the lugs. I missed this trade I missed one yesterday too. So that's a little upsetting With new lugs, um natural gas. That's what we wanted Now now if we retest the zone fail, I'm getting it right now I don't have to worry about the blue lug because the next blue lug is down here at 80 810 That's about 400 ticks away And if you don't think this market could do that, all you got to do is look at this this chart and it could do that I mean today alone we went from 894 This is 600 ticks right here It's a lot It's all in the vix they're trying to buy this and the other thing you want to watch too If you do have this tick strike or you know, if you just have your charts up Russell up Russell's been leading lately. So you start to see some serious setups in Russell in the assign indicator Or you see your tick strike at max Markets have been following yesterday. This exact thing happened. We were sitting there. Yes was like kind of hovering and then Russell just kept getting smoked. I kept saying wow, it's getting killed getting killed and then Mark pulled the nq and yes turned around so a lot. Thank you. I wish did I miss anything in here? Of course I did All right well for educational purposes Again, it was perfect at our retest because when I miss them they're No sweat at all that's your zone. It's actually sell ice I told you I guys it's over every market. It's the same thing. Look at that Actually, I think this was not fully tear so that'll make me a little happier Uh, ATR in here is 50 points. So that was not fully tear. So that makes me a little happier This was only about 25 ticks and then it was off to the races but We do retest the zone pay attention. This is a Almost 350 sell ice and the zone is now a broken ice setup Keep an eye on that zone on a retest I don't think I would have gotten that aggressively. Let's see for a boat. Oh, yeah, of course I would This is my life guys. This is me talking to myself all day long So remember above the law I take trades aggressively out of the zone So I would have been aggressively in this trade 50 ticks above here All right. So all this move back and I'm still Down 200 bucks, but this is my point again. This is not a winner yet But you see what these elbows can do make them prove they can get outside of this area a full ATR Okay, one second so You know Nice, you know, I avoided a loss. I could get out of here now I'm not going to nothing's changed if I got a new setup I would but hey now I've got 15 bucks out by The 12 packet beer in Arizona. I can I can cash on now. We're almost set around the gulf. The point is How many guys said I I only want to risk 30 points on this stopped now if this thing rips 300 You're like, oh my god, what am I doing? And then it just you're just despondent the rest of the day Put your stops outside in these areas if you don't like to risk that much Trade micros if you really don't like still don't like to risk that much then don't trade this market Because the volatility is telling you you have to risk that much And you judge the volatility by the ATR So for the for the thousandth time, it doesn't matter what you want. It matters what the market wants, right? ATR is 42.64 So this is kind of in line what we thought what I thought may happen because we couldn't break below Let's make this so you can see it individually Okay, there is that was the story And we came up when we put the trade on the first place Couldn't accept into here got back inside here came back down That was where I didn't get stopped because I have my stop in the right spot And then here we go Business is trading. I'm telling you if you you know, you're trying to you're trying to skirt the rules or skirt the You're gonna lose money because This is what these elbows are here to do. They're here to make you question everything you do Right, and if you're staring at your p&l and you see that thing go down three granular Oh my god, that was my mortgage. I got to get out, right? That's why you don't trade off of this turn it off turn it off and trade Number one thing I'd say this every week You know when I finally took off I turned off my p&l and I just started trading and then I would trade Again the first couple trades you put on you kind of know where you're at But if you're just in the zone and you're trading you're trading your zones and you're adding Say a new set up comes up here and I'll add to it So pretty soon you lose track and then you'll bring it up at the end of the day There are days I'd bring it up. Maybe up like 200 grand. I'm like wow. I had no idea. I thought it was up like 20, right? So Number one thing you can do to improve your results is turn off your p&l Now I have around a gulf at tpc. This thing is working out nicely Just make myself laugh guys. So Now we'll retest here. We'll keep an eye on that. That'll be a mammoth trade on the short side You know the soybean zone So I didn't miss that rustle trade. I didn't really miss this one because I was waiting for a retest of This this light blue zone. We never got it and even if you're waiting for a retest of that We never got that either. So now this looks like we may well this one doesn't look as Definitely looks like we're gonna come at least back up to near I'd say 41 30 So that's another 20 points away. All right. Now it looks like we're just forming more balance here Right, which is going to be a still high volume note. The top of this balance is the high volume note of this balance So you want to watch if we break out of this current balance through the high volume note of the prior balance And then we're coming to minimum up into here and maybe even higher Right, but it's still got a lot to do to prove that Right. This is still just building balance. It's a good touch here and then do that Those are the scenarios then you wait for the real-time buy-in to confirm them That's that's trading That's how I trade Just a couple questions Scott, well, I mean, I'm kind of kind of answer them here Scott uses a five minute chart For the atr five minute bar chart Is there any reason why scott you want to maybe explain some of that? People are asking it's just a shorter term chart. I mean, I think one minutes to obviously One to two minutes is too short term 30 minutes. You know, for instance, like this is an hourly Do you want to be do you want to be trading off an hourly atr? That's 109 points What you could do So I rarely do this, but so say something comes out say the fed Raises rates or whatever the thing whatever the number comes out and we do one of these And your five minute atr spiced to like 75 in here, right? Which happens all the time, right? So this goes up to 75. Well, obviously that was not why our event, right? That's not like the current Volatility the market is just one little pop. So you could then come down to 20 percent of an atr of an hourly atr and use that All right, so that puts you at 22 points Again, don't do that unless it's like one event like, you know, right now there's been no one event and they Hotilities 40.94. But other than that, this is just the default settings for thinkorswim like when I brought up atr You can see over here to 14 period 14 period wilders You know, you can just go wilders atr. You can learn all about I haven't changed anything You can make this whatever period you want. I don't need to mess around and put my own You know spin on things like this is what they had and it works perfectly like it's fine This is what I what I use, right? Don't guys don't complicate stuff make it as simple as possible You don't need to be you know, even with like the marker profile drawing That's the one thing I don't like about marker profile these guys that like You'll get days like this, right? And they'll like one of these were launched out of here and they'll say You know, I'm going to cut this tail off and then I'm just going to use this Don't be subjective with your stuff. Just keep it the way it is and that's what everybody's seeing Right. You don't want to put your own spin on things a lot of times You know In instances like this because you want to see what everyone else is seeing, right? So don't be cutting. I don't like when guys Use their own judgment to cut value areas and all that other stuff. So Um, so the point is I I don't do that with this stuff. I just leave it If it's not broke, don't fix it. You don't need to know you don't need to be Or if you're diving like I I had one guy in my room I get these guys once in a while. He was just like What about a moving average of the moving average of the 14 bucks? Like dude, what why what why? Like you don't need to be wasting your mental energy. There's even a guy in my room now He's just you know, and the more experienced you are and I understand it Don't get me wrong, right? The more experienced you are the more you think you know and you're trying to read into things and he's like Well, what happened? I see here. They they they had a bunch of bias here Then then they came down here and it looks like they were selling here and then they came First of all, who is they it's not just one person in here, right? So there's multiple big money and you're never going to know what anybody is doing unless you are God Almighty, right? So Why would you waste your time? Yeah, you come up with a thesis. That's fine, right? But don't waste your time. Well, what's this? I don't know if I want to trade this zone because they could just be covering their long Their their short position and or they could be hedging their option. Who gives the crap? It doesn't matter the area is what matters. There's someone on the other side of the trade So the area is what is important, right? If I look at this the soybean area Am I going to sit here and confuse myself and say well There's multiple months here and I know farmers hedge and you know what this could be a hedge here Against october beans blah blah blah blah blah. I don't care. I know this area is important I know there's traders Big buy ice and these sellers are running to big buys. I know this area is important And I know when this market moves out of this area, it's going to be a big move That's all you need to know stop confusing yourself. Please. You're wasting your time. You really are I'm going on my rant. I was actually pretty good for a while there See if I've got a full We're on the Gulf with a golf cart here in Nasdaq almost. Yes Woohoo All right, so an area we'll watch if this does you can see so you can imagine guys This is why I call this waterboarding. It's very important and I love it But I hate it You imagine if I'm short here and I've got to listen to this It's like you get to see the thing ripping in your face and you get to hear it I said last week I was going to come up with a new a new thing for trading where you can smell your trades too So if it's a terrible trade against you like a skunk smoke comes out of the So you could tickle all your senses and just be absolutely tortured. So anyway, that's why I call waterboarding All right, wow, let's look at that across the board on the The um, uh waterboard, uh, yeah, that's what I'm saying. That's why that's amazing Guys, you can come up with strategies just with this, right? If you come back into an important zone and you hear nothing That's a that's something that's telling you something, right? So again, I bitch about this thing all the time, but it is very important again You get discounts on my website. You want this thing? It's it's and then it also what I originally used it for As I'm going to draw this on and yes It's just to alert me when other markets were firing off because I can't watch 15 markets at one time I mean grad and now I do have the si indicator alerts that that alert me to the icebergs and stuff But I want to know if there's big buying and again all this is Is it's an algorithm that tells you the size the speed of the orders coming in and the size, right? And then you can make it from one to 15. So for instance on my This is one available to my room that I have this up this these are all set to one I don't have any sounds on this. Thank god, but this will you can see like facebook one So I don't want to see every time it's one I just want to see in here when it's 11 or more because I know some serious look at this buying coming in Right, this is who have you to know what's going on? Especially if you're like, I'm gonna fade this area We don't want to fade if these things are lighting up like a christmas tree wait for it to dissipate then short Again, this is just simple stuff, right? This isn't rocket science, right? That's how you want to make your trading don't confuse yourself Wow, they're buying it. They're buying a crap out of this. I probably don't want to get short here That's not rocket science So let's change this stop run thousand stops are significant these shorts are not real happy right now So guys, this is a perfect example, right? If you are we talked about this earlier if you're staring at this chart earlier Don't wait to see what happens here. We'll go to the logs here in a second. Hopefully the market will wait for me stuff out of here So we said if I'm looking at this this was this morning right when we got on I'm like this was looking pretty ugly this Broke down out of this we retested it failed I'm like this goes a little lower. It's gone to the downside Then what did you hear me say? Wait a second. So I'm just staring at this. I'm I might even got short here Like yeah, preemptively I'm going short, which a lot of guys did those are the guys that just puked by the way But I said wait a minute. Why if this thing's truly Bearish Why if that was Supposedly bearish why was there all this bias down here and why did it hold? Right. This is the key guys. This is the holy grail Right. This will tell you is your thesis. Correct. It's my short thesis correct I was ready to just short that with both hands as they say, but then I did say this Well, what if this is so bearish why the hell the bias is coming in that's fine. It doesn't mean the paper's always right But then it held it didn't even retest Well, that's not bearish right if this was truly bearish this should have just knifed right back through here and died It didn't that keeps you out of the short this keeps you out of the short Bar charts wouldn't keep you out of the short if you wanted to be aggressive down there, right That it's the holy grail guys. I've been saying it. I'll keep saying it till the day I die It's the most it's the most powerful thing you will ever see in futures training ever And I I dare someone to prove me wrong All right, so let's see what's going on here So first of all, this is important. This is one of um, this is uh called the edge We use this in my room. You can you guys get access to all this You can see all the stuff in my room texture like this this this so you can see here This is system p 500 all five out of the 500 stocks 330 of them or 330 of them or 78 percent of them are above their five minute TAS boxes, which are mini market profiles. That's this All right, just imagine this for each individual stock these things, right? So just mini market profiles. So when you get this extension You get these algos that revert to the meat So you want to be very careful initiating longs when that edge is overbought Or initiating shorts when it's oversold and you can be looking to get out of some too because you're like, okay This is going to pull back here, right? So especially when you're running into prior areas and you see this overbought Get out. So it'd be nice to like iceberg by zs 151 contracts. I cannot wait for that break out of that So it's going to be glorious And so let's see where we're at. So this is a good example. Where are we out here? I'm going to get out. I'm probably going to get out of this trader And I always get out of the red lug anyway in this NASDAQ trade. I know it's not a huge winner Bruneis iceberg sellco 150 contracts. So you can see this confluence too, right? We got spot gamma red lug and The top of this market profile right Pretty close That is I'm out territory. I know it wasn't like a one-to-one. It was actually more This is probably risking two to make one which I don't usually do But you know, I'll give this a chance to go through. So here's another thing I told my room yesterday too. You got to always remember You don't want to get out. Yeah, I know this is an important area But if you just see blue bubble blue bubble blue bubble, why are you going to sell if nobody else is selling? Right and or if you see this thing going crazy, right? So I'll give this a second and mind you you don't want to go like this to try to find red bubbles Because you always try you always see a red bubble. Keep it relative to how you had it Right. So if I see this start to see a big red bubble I'm out. I know this wasn't a great risk reward trade, but The the lesson learned here is don't put your stop that I mentioned that don't put your stop in a Stupid area because you don't want to lose a certain amount And you saw it right there firsthand. All right, I'm out of this. I'll take that money and run That was not looking very promising as we all know markets here So there you go guys. What I mean, what a great example feel the pain Understand the area Don't stop out in the middle. Don't stop out in here because you don't want to lose a certain amount Keep your stop and atr outside of this zone and let it work. Don't be algode. Don't be algode I can't say it enough. What is that? We'll take that and run Now we'll let's see where we are any ass. This is no reason I came over here But these are the magical loves guys these things are so powerful. Once again Love with levels.com go to our website. You got a three-day trial So you saw it on book map and you'll get special perks and or if you're part of my trade room Um, so there's this We're pretty close to the red lug here not not there yet 27 and a half. We are at extreme standard deviation Of view out. Here's view out. This is one standard deviation. Otherwise known as daily value area Here's one and out. Here's two. So if we pop up here, this is going to be potentially a decent short at least for Short-term short you got red lug. You got baby lug. You got extreme standard deviation And you'll have point of control of this Current profile granted. We will be in back inside here. So it's going to be really important what this does You can see right here. We're trying to get inside here if this gets inside here and stays here Then your expectation is what? To make it to the other side Just like we said the expectation was a Nasdaq Right, we painted a picture came up with a story of what was happening when I took that long And I said if it holds here the expectation the other side. Well, look where we're at Who knew Right So you guys are seeing how I trade all I think right and it's very simplistic. It's not I've got 55 things on my chart and I'm confused whether I want to pull a trigger Then when I do finally to pull the trigger I'm at a different area that I should be getting at like Guys keep it simple. You don't even need this much stuff, right? You can that's why in my room I've been posting like here here yesterday, right? This is this is one of the guys. This is this is just dynamite like The value that this is provides me putting my trades in here. So this is the trade yesterday right You can go in here and you can pick and choose what you think is important This is the double whammy that we talked about. This is where I got short I got short aggressively on this when it did go ATR retest fail, but I got short aggressively We were above the yellow love but the reason I one of the reasons I did it You'll see here. This is why you want to look at this stuff You're accepting back into here And we are at I remember correctly in an important zone. Let's go to the 60 minute This was on my webinar and you can see this is why I was aggressive on this trade Because this led to this direction of conviction the day before and we were right back there And I was wanting to short it again with the volume set up and that's exactly what happened 60 points lower So you can go in here and you can see what all this stuff looked like what a five minute look like when I put on that trade What did the 60 minute look like when I put on the trade algo guy? I'm gonna get into this but this is moving average stuff. You can learn about that in my room. What did This is another thing. I was so this is like what's happening now This thing was close to overbought with the volume set up a bearish volume set up that is gold Right it reverted pulled back markets a lot 60 points So you see here you don't have to use every one of these right you can come up with your own trade plan I like um low relative volume, which this was I like low relative volume when we're at um This is when I got out. I like low relative volume when we're at extreme standard deviation of vwap. That was this With a volume set up And how gold is that I like low relative volume at extreme standard deviation of vwap when we're accepting back into market profile And the edges overbought and you got four things that could be an a plus trade right the more things you have in your favor aka confluence The better the trade is and you could put more size on right where you can risk four percent of your account I don't recommend that unless you get something you know I recommend staying within these parameters like we talked about right two percent But if you get an a plus trade I told you as before many times when I was trading with smb to trade stocks They penalize their traders if they don't put on more size with an a plus setup They literally put them on the simulator the next day And then I show you what this what the hero looked like the spot game I hear like this guys This is just cool. I'm actually going to start putting these on my As a like a package where guys that can't be in my trade room. I'm going to call them um My book of trades where you can go in and see my last however many months You know every trade that I put on and then starts to you know You can go back and look if you don't that's going to be coming shortly It's going to be obviously less than my trade room But some guys just can't be in the trade room, but they want this information So I will be offering this soon, but if you remember my trade room you get all this I mean, this is incredible and I show you my tags. What did I see dba too? We just talked about double whammy talked about that a little relevant relative volume So do you see and then you can go through here and be like wow every time I see these on scots These four check off. It's been a huge trade. So you can just build your own trade plan Based on stuff I look at or parts of the stuff I look at you still want to always have your own things So you trust it and not just trust me especially so you're not cursing me out when the trade doesn't work out your way Right, you want to be blaming yourself? But the point is you have this is just a wealth of information like I I can't explain it to you in words All right, just getting a little late here. Let's see what's going on I feel like I've been talking a lot today. I've really really done much Um, so we're still in the zone here Still in the zone here. Keep an eye on soybeans. That is going to be a whopper Know what we tell us the natural gas Any questions bruce? Uh, yeah, let's just take a quick look at answering them So this isn't a huge area, but it's important, right? So these are important areas Remember, this is where I shorted yesterday because this is where this started the day before directional conviction And we got the same thing we come up to this area. Then you're really looking for shorts, right? But right here All this is then you get a couple selling tails. This is just the top of this balance. I mean, that's tradable I don't love trading Fades at tops and bottom of balance areas because it seems like every time I do that's the time that it rips out of there The best trades are like tops and bottom of balance that is confluent with directional conviction That would be this guy, right? This zone is really important. We get up here Especially if it's a straight move there That's going to be a good short We break out of here. Like I said, this is going to be a good long And this is confluent with the problems were so close to the red lug But we talked about this earlier if we break out of here, you got break out of balance through the prior high-volume Note of prior balance. It should do that If it fails, then it's going to tell you something else, but it says looking bullish right now, obviously Depending on what the zone does All right, what's the question verse? Uh, no, I think we're I think we're pretty good here. Um Let's see. Uh, no, Tyler actually had something interesting a little while back. He was asking about You know, you you um, uh continually talk about missing some trades I'm just wondering like I was wondering about this last week of like how maybe I mean, I know you have alerts Uh Is there and you have you already have a lot of monitors, but is there some way that Uh, you know, you can figure out like how to how to you know Be more kind of in tune with uh The alerts are or something because it's painful. It's painful to to to hear, you know Well, there definitely is it's not do webinars, right? So that's the problem when I'm on webinars I'm on one screen when I'm sitting here by myself on scanning you guys are seeing my setup I don't have my camera right now, but I don't know how to do that on this court Anyway, but you see my my mission control I've got so for for this computer. I have two huge Monitors that I have three book maps on each one So that's six markers and then I have another three monitors where I can have another You know multiple book maps too So when I'm by myself and I'm scanning all that, you know all my screens I basically see everything when I'm on these webinars and I'm on one screen and I'm showing you guys stuff I I'm not seeing these other markets. So that that's the solution don't do webinars anymore So if you guys want that then I won't do webinars and I'll catch all my trades So you don't have to hear me bitch, but you want me to webinars and you have to hear me bitch Yeah, we don't we we we don't want that Because I'm gonna miss trades right and it's just part of the game too. I am watching here's a retest Another opportunity here. I may take this right now because nothing's gonna just come in Let's take a look I forgot what I was saying, but Yeah, I'm watching so many markets too. So I'm gonna miss stuff anyway a lot of times But it's just a lot harder on the book map webinars. Yeah, so we're above the yellow log But here is a retest Of that. Let's just look at bigger picture real quick See if there's an important area. I mean we got to smush yesterday I did just this yesterday. I was on the book map webinar, but I I mean not book not book my my room webinar But there was opportunities again. I just was I got complacent. That's what I did. Um, so anyway, you can see here That's a big balance. What do we do we night right through Everything all these zones. These are all current zone right through everything That is not a good sign for this market So you're looking at free bread free beer for everybody here going forward This looks like this and then down to zero so Um, let's look at our zones just to see you know prior support isn't obviously now resistant. So what do you see here? Anybody see one of the four important areas of charting? I'm putting on that course too That'll be on my site so you guys can see a bunch of examples, but There's a selling tail We're moving back into that we're moving to this prior zone. This is a zone that It's launched from right. This is also selling tails selling tail directional convection at the time So this was still in some zone. We knife right through it. Here's the return. Here's your selling tail That looks like that to me Now now you got your volume set up that we're retesting. So if we go retest fail, I already missed this I would have been in aggressively But now I got another chance Here we go right Now my picture bigger picture. I were above the yellow lug I know that that's more for shorter term day trading but bigger picture This is telling me that was that selling tail. Here's your retest. Here's the big actually. I'm sorry Take all that back. Let's draw this zone. This looks like it's threshold Yeah So what do we want to see here? Did this zone remember? I said to trade prior zones and retest if nothing else comes in that's fine But something else came in this was threshold in here right 150 plus 60 is like 200 But I will trade this zone if it led to direction Nice size for cell co 150 contracts Nice size for cell co 150 contract to the beating on that one this morning. I got aggressive Maybe we'll look at it here, but um So this isn't really directional conviction to me, right? Downward this is directional conviction. This is kind of like staggered, right? You want to see like straight beeline moves so You could take this retest failure. The problem is there was a new set of sense line, right? And that's this and 57 52 it's each one house really that's a really great thing to see is it not right draw the zone Incorporate all the prices that happen in the spike by ice So technically because this is now a bullish setup, right? We got an atr above there So this is why you don't necessarily want to take this as a short because the last the latest setup was bullish right There are certain certain circumstances where you could say i'm going to short this this is not the worst short if this Gales back out of here in a five minute atr, but you got to contend with this bullish setup So i'm not going to i'm not going to trade retest failure here, especially anywhere above the yellow luck So what i'll wait for is maybe we'll move a little higher get something new and then short that possibly But again, we're still we're above the yellow luck So what would be a really good short based on what we just talked about bigger picture If we get back up to this red lug and get a signal up here around 1077 That would be a good short. That's what i but right now i'm not going to short that Because it's something you came in if this didn't happen Then i would short this on the retest because nothing had happened since the zone That makes sense, right? I would play that but this came in after this is bullish I'm not taking it short when the bullish setup came on came in after it Hopefully that is clear. All right, this is just hanging in the zone You can see that was a decent exit and that was like so far anyway With that big bubble Missed this one. How did I miss this? That's the other thing too. It's like you get these so you want to have these alerts go to file an alert So you don't because I hear so many things all day long all these markets I'll hear something but I don't hear it right so that you can see I'm sure this is in here. What time was it? 20 If I missed that it was that part of the no that was after we put the trade on right? Yeah I could have actually added to this trade draw that zone here, but let's see 720 Sure. I was the minute of chirp in the middle of chirping there Right there, right? That's why you want to have this up guys for cell ceo 297 contracts I'm trying so hard not to get sucked into the groove right now um, so this was the Let's just get rid of this double whammy or the step brother zone I can't believe I didn't hear this especially that was being tortured. That was right before I got I almost got stepped out Right, you can see this was 200 ice It was this zone here. I've played this so you can complain about something else here So do we get an ATR below here? I have a close So I don't think I would add it aggressively there because I think we were below the yellow log at the time Fairly, but we were that was right around here, right? So again, if we were above the yellow log then I would have taken that I could have added to that trade So what I would have done is add to this trade 45 points or whatever that was above this zone here And I would have put my stop Below there that's a little you know, that's not the best trading because you're basically adding to a loser And then you take a double snack