 Good morning, everybody. It's 8 a.m. New York time. Welcome to the the breakfast session. It's NFP day Let's do the disclaimers first of all. So let's get those out of the way All book map are limited materials information and presentation are for educational purposes only and should not be considered specific investment advice nor recommendations trading futures equities and digital currencies involve substantial risk of loss and Is not suitable for all investors past performance is not necessarily indicative of future results and a quick reminder of the revamp of the learning center. So feel free to check it out Let's switch over to Live book map as I was just saying in the discord channel before we went live I was looking to see if they were going to get any momentum in NQ, which is the left the left half of the screen 8-radar HE and just to see if they could take out this overnight low around the 970 It was a little bit choppy on After they got back to the 16,000 level but now looks like they have got some momentum So I'm just watching to see what kind of volume they have if they can get below 980 It could get interesting and they could take that out Yeah, so 980 is where I'd call the line in the sand This could just be and it probably is just getting fuel for whatever happens at the NFP and I just leave it on this screen for a second Just to see if we can see this action. We can zoom in a little bit This is the trader map pro filtered and if we get a chance before 830 we can have a look at how useful that has been today I hope people have had a chance to actually get onto that beta and test it out certainly for NQ Yes, today has also got an issue If we look across at the unfiltered in ES We've begun to get the same algo bands that we have been getting in the NQ for the December contract And I'm still trading the December contract today for both NQ and for ES. I am not rolling across Just yeah, I'll be rolling across early next week. I'll be watching the Volume comparison between the December 23 contracts and the March 24 contracts and seeing when is the most opportune time to roll I prefer rolling once the volume has You know taken over in the next contract the March contract by a fair margin Yeah, if it's still even Stephens I'm probably still on the previous one, but if it's considerably more than I'm on the new one But that will either be Monday or Tuesday welcome all the people on YouTube Welcome to the stream We are streaming the NFP release and thanks to my friends at final financial juice Hopefully some people will be able to hear it whether it's on YouTube or discord You'll be able to hear the feed through this stream and just for a few minutes What we're going to try and do today is really a prep For that 830 and then I'm guessing or expecting really again I cannot predict the future as I say a thousand times a day But I'm expecting that the volatility will be Significant at the 830 or maybe just before the 830 release and that will have plenty to watch and talk about live on both ES and NQ and if you are trading and I actually have got my trading engine on I'm I'm debating to see whether there is something to trade Or to get in just before or just after the release It's one of those occasions where I do not ordinarily take any trades during the stream But this is the highlight of the week as most of you look at the economic releases No, so it's one of those where as long as you've got a stop in place and you are prepared for your stop to be slipped And sometimes the risk to reward can be quite beneficial So that that is one of the reasons why my engine is on today Right, so yeah, we're going to try and do some of that prep and if we can we're going to Scroll back in the NQ filtered heat map and have a look at how it could have helped potentially if you were trading during the European session up to about really 10 15 minutes ago It helped quite a few times today. And that's my personal opinion Just having a look across in ES at the moment at this low. You can see that I've contracted the column. So I've I've blended two columns together. This is the volume profile So I've put the numbers in there It's just so I can squeeze more data onto the screens in other words get more Of the actual heat map onto the screens because as I always try and show you It's beneficial to have them side by side But the problem is if you have too many of these columns and I've got two of them taken over by cloud notes If you have too many of the columns then you don't get much of the map itself on the On the screen when I'm doing this and I've just realized again that I have not done what I normally do Which is make sure that you can see all the numbers. So apologies again I was actually trading all right up until I started this stream. That's why it was on so low But there you go. So all the numbers should now be Legible to everybody on whatever resolution you're on in YouTube Okay, so As yeah, as it's all slowed down a little bit even though it does look like it will continue at least to get down to the 76 Maybe the 70 level in enqueue. We shall have a look at the slide show Oh, here we go. It's getting close to the 76 Just zoom out a little bit. See what's hitting Sometimes you have to zoom right in to see that it's 12 They've hit at the lows and that's likely unfinished. They're gonna After they've thumped that retraced. It's likely that they'll push down. They're looking to get this 70 Level or close to it and maybe that's fuel for a move up. That's been in place since 1 a.m. New York time. So basically the late in the asian session Yeah, I have for my trade journal. I Subdivide a lot of these sessions up. So like in my journal, I have um a post u.s. Which is 1800 hours until the japan open then I'll have a japan open one a china open one um an asia and asia late germany uh london european morning and then the cycle the breakfast hour and then rth so basically I'm just for my journaling. I like to know um for my record so I can filter on which sub-session particular comments or trade types or trade outcomes or whatever it is that I'm looking for Can be seen quite easily in the database that I have and I do not These days use any commercial um trade logging um things Like trade ethics or whatever. I do not use them. I use my own one. Um, but I built in it in a An open uh the inner inner free um note taking software called obsidian. So in terms of statistics I look at the the basics here as statistics, which are very very good And I also export those to excel and Play with them a little bit. Um, but Separately to that I actually journal inside a text journal And I've got a database within that that I built and that's how I look back As I say during these sessions The the best teacher is not me. The best teacher is you. You are the best teacher for yourself You learn more and you'll learn even more from the mistakes that you make and um, as somebody has said, you know, to me often and just generally um Necessity is the mother of inventions and how that applies to trading in my view is that the mistakes that you make you um, especially if you repeat those mistakes again and again You will have to find a way around them and that is where the the necessity comes around unless you find a way around those mistakes Um, you know, um, you will not have a trading account So that's why it is the mother of invention because you have to get creative Because you have to deal with yourself to ensure that you do not keep making those mistakes And it is human to make those same mistakes and trading again and again This is not a normal practice. This is a game of chance with probability and maths involved And it goes against all the kind of survival instincts that you have built in I'm not going to do much of that psychology stuff in this, but I'm sure Many of you who are watching will have Read a lot watched a few webinars, you know paid for courses, maybe all about How you deal with your own psychology? Anyway, um as we go I'm just I'm just watching to see if we're going to smash into this 70 level So that's the reason why I haven't done any of the slideshow just yet. I'm just watching to see what is going to be taken out there Um, I think we've got five at the very low in nq and es has taken out most of this Um, this is the filter deep map so you can see where they're putting in some new liquidity down at the 4578 level So again, um, I like to have a look at these liquid liquidity maps hand in hand to see If they're showing the information in either of them that can be used in either of them or the other one Sometimes the information I get from es I can use in nq and vice versa Um, and sometimes it's clear which market is leading which Um, you know over the last week and a half I've pointed out that you know that it's the finance sector that's been the strongest and that means that because es is Heavy in the finance sector than nq the es has been leading or has been stronger or more bullish During that last um week and a half two weeks, etc We're just watching this come down. So The moment it says eight, but it's not eight. It's five. Um I'm curious to see what is hitting that and I know this has been in place for quite a while I'm just looking to see. Yep Got to the 71 level And they've hit it with 17 so far. This is unlikely to be finished. Let's see what happens when they smash down into the 70 And they've formed some liquidity below as you can see at 65 66 It's always quite interesting when they've got two little batches of liquidity the solid one that's been there forever and This little one that they've just added now. I think they're trying to draw people down a little bit further So let's just watch them try to do that es has gone through its little support zone of liquidity We're looking for a little spike in nq to signal that they Uh, a little some form of little climactic spike to suggest that that this particular down run Maybe over like that for example Okay, sorry. I did actually um, that's the first time in any of these sessions that I've actually stopped and um, and um taken a trade but uh, I do I do apologize Actually, I was um, I went to apologize. I was actually talking people through what I was about to do. So I hope um Oops You may have actually seen me take a trade there It was just to show that, you know, I um I do actually trade it. So you've seen that live. It was in the bottom right hand corner of um of the um screen so you um I'd like people to know that I'm not one of those people that is a pure educator educator that does not trade That I put my money where my math is and if I'm talking about something coming up and I was actually trading Yeah, you would have seen me take that trade. So I've got my sierra and my um book map connector So you actually did see me take a trade even though you only saw the notifications in from rhythmic inside inside Book map. Anyway, that that was interesting. So let's get back to the prep and the slideshow. So yeah, um, that's again, that's the first time if I do take one in Um one for the nfp. It will be a swing Rather than anything else, but I don't know if I will I'll probably save my bullets for a little bit later after the webinar So let's move along to the slideshow And feel free to any questions you've got about why I took that long there Feel free to ask So these are the important announcements today The economic releases the non-fond payrolls, which is coming up in 16 and a half minutes Or the unemployment rate those are together and the forecast there. That's the number So when we do listen to that the forecast is 180 and the prior is 150 So those two numbers I believe will come first before this 3.9 And it's you know, is the number that they announced materially different from there It's not, you know, is it higher or lower? I mean, we do not know how the market is going to react It's just what I'm most interested when I get to these major volatile economic releases is how different is it from forecast And again that forecast, which is a consensus forecast May be different from the forecast that the big big players in the market have for themselves. So, um Um, so, you know, sometimes you think oh my god, it's 300, but it hasn't moved That's because they forecast it was going to be 300 or whatever. That's just a random example Okay, let's move on to the next screen. So yeah, nothing much has changed from what we were talking about on the daily the other day You know, there's been no dramatic turnaround in TNX or anything like that. So es remains in this range and price action suggests again This is a probability suggestion nothing else that once you you have a strong up move and then you pause and balance in a range The normal behavior or the probability is that it is going to continue going up Yeah, in the same direction as it was before it arrived in this small balance zone Um, NQ has been a bit weaker about that, but it has turned around a little bit and it's suggesting It is more bullish than when we talked about it on Wednesday Okay, and just a quick look. Um, it's actually a three minute, but it's squished up So it doesn't really matter whether this is three five or 10 minutes. The light gray is the eth That's yesterday. This is today's eth And you can see if the yesterday mid is this black dotted line or dashed line You can see how strong this has been You know, in other words, we have gone nowhere near the mid of yesterday's rth range And that is quite bullish regardless of the fact that we just took out the overnight low in es and NQ That low is still well above yesterday's mid. So that's that's worth noting. So you may think oh my god We're at the low of the overnight session You know, I always ask myself, where is that overnight low in relation to yesterday's rth range? And this is bearing in mind that yesterday's rth is when the real market's open You know, the underlying stocks are open today's eth is just Um, you know, it's a reflection of the other markets and play the european one the asian ones The currencies etc. But it is not An open market. We've got some pre open activity in some of the stocks and some of the pre market You may you may follow some of the things like apple QQQ etc that are open but um, but yeah It really gets underway at um at the rth open Just got to keep doing a time check. So we've got about 13 minutes. So Yeah, so, um, yeah, I'll talk through why I took a long there, right and um, actually I had quite a heavy Uh long for for me for that particular type of little scalp because it is a strong fade. Um, so I'm looking at this resting liquidity, which if you go all the way back was there from 1 a.m Um, we've got a a significant down move. We've had a an overnight low Um overnight low in place. So you can see that the setup Correlates or the setup is basically what I've described when I first started putting out some supply and demand setups This is the type c. This is the spring. This is the archetypal spring It's not the perfect one where you have a spring right into Resting support it actually took out that supporting liquidity But it had that lovely spike below and quite a nice reaction back Uh, and if you watch nq a lot you are looking for those spikes because The probability is that they will be reclaimed and especially after a big move The more likely of the ar to be reclaimed quickly Okay, um Let's focus a bit on es because if you are actually going to trade Um the nfp release Nq might be too thin and too volatile for you if I look at the current liquidity the liquidity This is I think it's the nearest 10 levels the average is about six and a half and for es It's about 124. So there's a lot more liquidity. And how can that help? You can you might not be slipped on your stop by such a significant margin in es should you trade this Oh, sorry. Sierra charts covering that. Okay, uh Sorry, sorry, sorry Let me just get rid of that. There you go. Sorry, um Thanks, Tom. Sorry. I didn't realize it was Uh, it was just the image slideshow. So, yeah Yeah, just to recap what I just said in terms of the spring if I just zoom out you had this low Uh, that's 715 you had this liquidity which has been in place since 1 a.m It was a classic spring comes down the previous low smashes through and actually smashes through liquidity Uh, big spike through it and immediate retracement. So that is a spring and also a scalp in this circumstance because We're in quite a high volatility, um, environment for the next little while Maybe in, you know, maybe in all morning through the rth. So, um You know a scalp can still get you a significant number of points So, yeah, yeah, apologize, um Tom for that slideshow being in the way Um, we got time for the tpo. So I think we do so let's have a quick look So we're just looking at the eth which is quite balanced The profile is quite balanced and it's really within the, um The second or the if I break this down You can see that it's within the afternoon Value or balance area. You look at the bell distribution curve to see it's pretty much a balanced area in e s. So that's basically What this is saying is that nothing has changed in e s We're just traversing up and down the value that they established in e s and yesterday afternoon And you can see if we zoom right out and we scrunch this down you can see we are in a big big range right and you and on the On the profile side of it, you know, what's interesting. You've got settlement t plus one just up here As as maybe a first target should should it be a break up at this release? And you've also got this untested naked point of control up above Just above the four six hundred level. So you you've got this again the december contract and if we flick across to And q again, I mean this time let's just draw this one The balance, you know, you have to um, I don't think I'll do that again because that's that's poor The balance is really about there. I mean, or you could draw it This is a little bit subjective it's about there, but again, we're just basically around that balance and nothing has happened in nq um If we scrunch this up a little bit What's interesting? um Is this little zone up here? It'll be interesting to see if we can get to that which is just under the last month's high just under the 16 200 level um and Let me ditch all of that And go back to book map. So we've had a nice bounce. We're well off this little low already at the 80 level If we dig out The relative volume and I'll just bring it over just for a minute You um, the point of this is the on such a volatile day these averages normally get smashed So in ets eth we've had on nq 75 of 107 15 of 22, but if you look at um The sum the total it's basically an average of 192 and an average of 34 So there's loads of room loads of scope You know if we're going to exceed that average today and there's a good chance that we will Then there is a lot of potential to You know to you know if you get into the right swing to trail Your your you know even if you scale out it's to trail your your last couple of scales and try and make the most of Opportunities when they work in your favor. I'm not saying that they will work in your favor Or that we'll get any of this right, but there is an opportunity there You know if you do manage to get it right And luck does play a considerable part of this Okay, let's have a look both at the filtered and unfiltered Um just looking at the time check again now. We don't have to send the feed on just yet I'm checking that I've got my feed running through. Yes, I do. So when I turn it on both you and I should hear it Let's have a look at the unfiltered feed to start with in In es right One thing I want to point out um Is this sell iceberg here not the fact that they've only filled five contracts, right? And not really the fact that there's not been a huge amount traded around that level better Maybe a thousand or so What I'm pointing out here is they're advertising that they're still willing to do business, right? um Nothing has a 100 percent Win rate in trading All this is doing is saying that Yeah, there's a reasonable probability that we're going to get back up there so that they can trade again Maybe we'll go much much higher. Who knows but there is a probability that will That will occur and that's why that sell resting iceberg above price does tend to interest me because On the statistics that I have compiled myself that is an interesting prospect Okay, you can see that if I had held that spring and I I wasn't talking on this webinar You can see it would have been working quite well In in queue there, but it's by the by Okay, so let's have a look as well The other purpose of looking at both the unfiltered and the filtered heat maps is to see if there's anything unusual Any distance away Either on the upside or the downside So what are the standout numbers and we can probably see this better on the filtered map? Which we're about to go to but the first thing that we notice there is that 4602 at 239 Contrax and maybe some more up about the 4 6 20 the 4 6 30 levels you've got some Um well above 100 up there Okay So if we go to the filtered sometimes it's just a little bit more obvious And it's more interesting to see where they place them you might have to zoom right out on this one So 4602 they've got 205 contracts. I assume that's correct And it's not been smart clustered smart clustering is where the the software takes Values from several different levels whether it's volume or orders in the book And aggregates them in a smart fashion. Sometimes I like zooming in to see what the actual numbers are um But in terms of resting unfiltered or unfiltered in the sense that these orders have not changed by Size or by price at any time since they were first placed There is nothing else up there yet Doesn't mean that we won't go up there. Uh, in fact, you know Looking at the macro level and and the pure price action stuff It suggests that we would go up there, but it will be interesting But from a liquidity perspective They flagged this 4602 level and that's the only one that they've really really flagged On this particular heat map and if we look at the way, you know, when we when we zoom out Vertically you can see that this is like a brick wall of support and you know that they kind of hold it They did that in asia and they eventually let go and price retraced down to here the in asia if we drag this back I'm gonna have to really zoom out Yeah, there we go in asia you can see that this big big brick brick wall was there For quite a while and and that's how they held price and maybe they just filled it all up Let it go down and then Then it then went snapped straight back up and that's how they made their money. So It's interesting to see how thick those bands look when you do zoom out vertically And that is today rather than commenting on any other day in question Okay eight twenty seven Best to turn on the feed so that we don't miss anything if it's too loud I will turn it down with my volume sliders. So So I'm just sliding the volume down if it will behave There we go So you should be able to hear in the background, especially if you're on youtube and Now it's quite interesting. I mean we're going to comment. We're going to focus on Actually, we're going to focus on the unfiltered because i'm interested in the stops and icebergs Which you don't get on trade amount pro unfortunately at the moment So i'm going to focus on the filtered nq and the unfiltered es because it's the es stops and icebergs That interest me a lot more than the ones in nq So what is staying in place and you can see how much of this liquidity suddenly got pulled You've also got this liquidity at this round level in nq at fifteen nine fifty But i'll take that with a pinch of salt You know, maybe you know once we get towards there i'll begin to believe it a little bit more But the moment of the resting liquidity There are only two things that really get my attention or three things actually Where yesterday's low is in case we have a sudden whip down and we just take it out Where this cell resting iceberg is And where this resting liquidity is up at four six oh two So the feeder has gone quiet honest. What time is it now for eight twenty eight and a half? I'm sure the feed will go loud again in About 30 seconds So i'm not placing an order in the book Before this trade i will watch what's happening. I may take a may place a trade You know within about five minutes after the release This is more of a one-off. I don't tend to do this in these During these streams But really One thing i will do straight away is get this ready, which is the line the horizontal line so we can mark The scene of the crime So you've got 45 seconds. I'm going to just try and mark that straight away So if I was expecting anything or thought anything might happen It would be a breakout up eventually doesn't necessarily happen to have to happen at the release itself They can play a lot of different games and a lot of different ways they can do it They can get a lot of fuel from down under first before they go go up But it will be interesting to see whether they just have a vertical leap up first or not or whether we have a vertical leap down So I will be quiet so we can hear it So we had a push down so far higher than forecast I'm going to have to zoom in on that one. It's gone a bit further So we mark that about there And and horizontal line this one probably around about there. We'll mark that Never going to mark it perfectly So my hindsight comment, which is always wonderful when you make a hindsight comment is i'm glad i didn't place a buy in the market before that one But does not mean that we do not end up going up today Very very early day So the first thing that we often see is a retest of the scene of the crime I will turn off the feed now Because I think we've got enough information on it. So the headline news was that the job's number was higher than expected So we tested up towards the scene of the crime But we didn't get there So that is interesting because that's a little bit weaker than the kind of bounce that you would ordinarily expect What are we seeing? So we're seeing the 16 0 40 at settlement in nq staying there The scene of the crime 15 970 ish. So we're about 55 60 points south of that in nq and seeing the crime in the s is 458 ish and we are about 14 points 13 14 points below that So the market has certainly gone down a bit since then When we were looking at the news release on wednesday and if you can recall how we had some clear liquidity that was up above I think it was in in nq. So at the 15 990 or 16,000 16,010 levels or 16,020 levels That was a much easier read of what was likely to happen than some of the liquidity that we saw in place in In nq and es before this major release, but this one's normally a little bit harder and a little bit more vicious in terms of price reaction Than the one that came out on wednesday So we're watching to see how this is being supported And you know the first thing to note there is that there was a nice little Delta tail in es So you know if you scrunch it up a bit you can see that little delta tail in es And what is trading at the actual the very very lows at the moment 39? It looks like 39 Which is a low ish value So i'm just looking at the shape of the profile there on my other charts You know the the idea there is um is one that i've mentioned before And again i'm keeping an open mind as to whether we go up or down Even though we are currently below the scene of the crime But the the reason i'm looking at the tail Or the the very low point on the es at the moment is because There is a statistic that i am interested in and that statistic is that if this were to be a trend day Then The most common time for the extreme whether it's the high extreme or the low extreme to be put in place For the entire rth session is Within 15 minutes of the 8 30 release i between 8 30 and 8 45 am new york time. So i'm just you know, i'm i'm ignoring I'm really What you know, even if eth was above that i'm interested to see what happens from this scene of the crime That's what the statistic really relates to it doesn't really take into account the rest of the eth session Let's have a look at what is at the very bottom in nq as well. So you can see again That that resting liquidity there was put in place Right at Um, the release will maybe a second or so beforehand right and they came right down to it And that's why one of the reasons why that that filtered trade map pro is interesting to me You know, i've probably spent more time Looking at that and i have not touched the settings for a good couple of weeks Just left it alone. Now it's it's it's caused me more interest than A lot of the other add-ons Okay, if anybody's got any comments or anything or wants to ask me any questions as well while we Just look there. I know that some of you are probably trading and you're probably very very busy So i'm aware of that one too So, you know what i think i can see in es is that they are supporting with these liquidity bans and pushing price up back For a retest of this scene of the crime at the 4580 level What happens at that point as in when we do retest it will be the most interesting Do we retest it once fall off and then do we get back up to it or do we reject it? Quite clearly once we get to 4580. So that's the most interesting thing to me at the moment And we can zoom right in and have a look at it So it's quite strong price action now since we formed that last low So it's the lows really around about into this liquidity support here 832 actually so within two minutes of Of the release a low was formed So, you know, I will probably mark that in You know mark that in my sierra. I'm quite interested in that one So I am just marking for statistical purpose only Whether the low at around about 62 or 61 75 in es turns out to be the low of the rest of the session Including rth that is the thing that i'm noting to see whether it will do that or not today But it's only more likely to do it if we break back through This scene of the crime at the moment we have gone almost right back up to it and so far we've rejected it So that puts a bit of a dampener on that one So we just have to keep an open mind The you know, I mean one of the other things as well is you know, is this idea of contrarian thinking Um Even though their favorite activity In markets and especially in these indices futures is to squeeze shorts A lot of people, you know, a lot of retail would be aware of you know The the price action picture on the daily, you know, the fact that it was really really quite bullish Um, the fact that you know the interest rate outlook looks like it's going to go down Which is bullish for stocks. So a lot of retail are aware of that So whether they can squeeze them in the way that they might otherwise, you know They normally squeeze them when it looks like the world's about to end that that's the best time for these big players to squeeze um To squeeze the retail Sectors who are short the other thing to bear in mind as well when I was looking at the options picture for tonight There is quite a large amount of expiry in spx Which is the options breather dictates or has the most relevance to es futures. There's a lot of expiry of the call options which are at 4600 in es I've forgotten what the current premium is when I looked at it the other day. I think it was it was about seven So that would be like about 4607 in es So, uh, my point is that a lot of that expires today The 8th of december. So one of the the issues is you know, what you know, what really is holding up The market after that goes, you know, is that a resistance level that's suddenly being pulled today because it expires So the market can shoot up or is it a magnet that was holding the the market's interest up there So that once the magnet is taken away The market initially moves away from that magnet, you know, so like it hasn't it hasn't got the same level of attraction anymore Okay, let's keep talking about what es is doing so we've still um We zoom out. We've still had a very very good retracement and we have not gone back under this 473 level since we went down there. So we are still Getting up to this scene of the crime at 4580 And if anybody else has got a different scene of the crime level, please let me know what it is You know, basically tried to drag it from that I mean, you could have had it a slightly higher a slightly higher level at 4581 now. That's the first time we've retagged it So it's a zone. It's a zone of 4580 to 81 ish maybe 4580 to 458 125 That is the crime level. Maybe I should have drawn it as an as a rectangle rather than a horizontal line But this is the first time that we've tagged it or slightly broken it um, and again Keep in mind that that resting iceberg is still there Advertising the fact they want to trade up there And this resting liquidity of 230 at 460275 is still there Okay, that is a that's clearly above the scene of the crime. So the So now what we want to see is does this area hold? So that's the 4580 to 4581 level does that hold because if that holds then the picture Has suddenly switched from being a little bit bearish or quite bearish when that release was made to being bullish again That the market has digested the news and is no longer feeling so sad about it and things have picked up And interestingly in nq across over here, even though we've got plenty of liquidity there We're right at that level and we're broken cleanly through it See whether we can hold it, but we did break cleanly through it If we zoom out you can see that we broke it by about three points or so Uh, but this again is a zone. So we're at the scene of the crime zone in nq You've got some liquidity that they might go and get some fuel at here at 1960 Looks like they're about to smash into it What is at that level down here? No, it's it's a small volume trade at two So we're just watching to see whether this is a is a bit of support or absorption Of sellers, you know, they're trying to drag them down here to refuel to get back above that Is that what is happening or is it something else? and Yeah, looking across where the most recent buyers are in nq. They're really in the um 62 to 66 level When we're just underneath that at the moment And there's a really really big seller that was in place at 57 So just about that level there So that seller is currently, you know The support for the market 57 in in q, you know, are they going to get back on side? Again, we're not we're not talking about one or two ticks talking about a few points Are they on side or off side? so i'm curious to see whether You know, what kind of red tail are they are they forming at this 57 level and is it going to hold? What's happening as well on the liquidity side So all these little flashes of liquidity we ignore we're looking for the more stable ones So far They've just you know trapped a few more sellers at that 57 level And they're pushing back up to the 70 level so that big seller at 57 is the trap point at the moment the line in the sand That's why I was looking across at it You may have noticed I paused because I was looking at something on another chart to see where I could see that big seller I mean when I'm trading these releases in bookmap I'm tend to zoom in a lot So if I'm looking for something which is a little bit more high level such as the big seller zone I have to look elsewhere You know, it's it's difficult to use One heat map for lots and lots and lots of different purposes somebody in in the discord forum asked a wise question the other day, which is you know You know, how can I have a book map for a short term and a longer term? And you know, there are there are two add-ons that can do that There's this trader map pro one which you can use for a copy of instrument And there's also an instrument copy add-on both of those so that you know that way you can have a A short term and a longer term view on the heat map So again, we have that scene of the crime in NQ and we have smashed through it properly this time and we are clear of it By 15 points or so and an es which I was not watching as carefully Yeah, we're well above the 4580 level we've gone as high as Eight and a half points above it now and that resting liquidity is starting to look really attractive And you've got some more liquidity there that they 288 at 4590 50 4590 50 They're trying to get people there by watching this absorption this by eyes of 206 Yeah And Where the delta comes in is you can see how many sellers were at it. I know we've gone through I don't that's not a setup for me I'm interested to see What the number of sellers that they absorb that on this case and sellers overpowered them and they went down So we're just basically chopping around the moment Maybe we're going to chop all the way back down to the scene of the crime That's how I use that iceberg in conjunction with the delta column and the delta numbers column Ruggling to actually there we go Sometimes yeah, there we go. It just wasn't responding to me vertically I think i'm putting book map under a little bit of pressure in this highly volatile time See, I mean You can look at the volatility and this is a very good reason over here in nq Why you don't talk about price levels, especially in this kind of release environment It's because you get these Big spikes through so if you had this as like a one-point zone in your mind, you know, that's too tight To identify a level when it's going crazy like this, you know, it broke back through the scene of the crime by About five five and a half points And that's one of the reasons why in such a circumstance, you know You're going to have a much much wider stop if you were trading nq then you would have done um About an hour and a half ago an hour and a half ago when I was trading and I was trading A couple of shorts on the way down to when it first went down to to 970 I was Trading with a five point stop, but right now I'd be trading with like a 25 point stop You know, I'm looking at the rotations. I have to really Scrunch up my Sierra to see what the rotation sizes are, but yeah, some of those rotations have been enormous like On the scene of the crime rotation down in nq was 383 ticks straight down And some of these rotations back up have been very very large as well Um, so you've just you know, when you see I mean, I know I spent quite a bit of Wednesday talking about these rotations but they do fascinate me because they really get into your head of how you know Of this concept of being wrong, you know You can measure when you're wrong when when you're still in a trade where you you're a couple of rotations down You know, that's clearly you should should have been out earlier than that But it just gives you an idea of how the market is going from a to b You know, there's these little mini rotations up and down up and down up and down Tom talks about them as micro structure in In his um, where I'm now when he starts looking at each of these little highs and lows these little swings I I like looking at the The numbers occasionally as well just to see And remember, you know one of my aims is always trying to get multipliers So if I don't know what these little rotation sizes are It means I'm I'm part guessing at being able to get that two or three are because I don't know How many of those rotations I have to get through to get to that three are And trading blind is never a very good idea because we're already blind since we can't predict the future If we're blind about some of the objective stuff, that means we're we're being deliberately blind in my personal opinion Okay So this liquidity up here in nq at 5985 that is bounding I can't make this any dimmer In nq, but you can see if we just zoom back in they placed that effectively When do they place it about 844 and That has acted as a boundary and below you've got two boundaries. You've got this boundary at 61 961 and at 955 so they're effectively creating A wide ranging Trading range one of the best ways to work out if you are in a range or not is to see is there a bell curve on the Volume profile for this and I'm guessing that there would be I'm looking across at one of my charts Yeah, I'm seeing a bit of a bell curve there from The 986 down to the 966 a 20 point bell curve here And I'm guessing they'll be the same. It's not as clear in es There's a much tighter bell curve that I'm seeing which is more This range of this little low that we're at here Up to the 89 more for four point Bell curve trading range And the idea is you know If you identify very very quickly that you're in this pause range zone And you are interested in taking smaller trades even on crazy days like this You know the idea is the you take it from the extreme of the range You scale if possible at the middle of the range and you try and get to the other side of the range That is range trading in a nutshell But it's you know, what tools What ability do you have to recognize that you know, why is this coming into range now and can this benefit me in my trading? You know, I'm not one of those people that says I must get 20 or 30 points in the years No, I'm I'm simply looking for multiple r's in my trade Which is a multiple of the one r risk that I'm placing in every trade So I do not care and I do not measure every day Whether or how many points I might have got in enq or yes, it's just irrelevant to me So we're here in enq. We're right at this 85 You know, how many times have we approached that you could say you could say one two three This is like the fourth approach still haven't got through but Um, you know, if you were trading that range, you know, you took a short third You went back down there. There's only five points. There's not that much which after such A volatile piece of news That's you know, a relatively narrow range in enq But this is the fifth or sixth attempt And the more times you bash at a brick wall, one of those bricks is going to get dislodged The only question here is that you've got more liquidity acting as resistant that's kept keeps being placed above at 87 and a half and 90 I am just looking. Um, yeah, I had not noticed that this resting iceberg in es Got pulled at 847 so I wasn't paying attention. I normally do pay attention to those things. Um That again, that's doesn't mean we will go up doesn't mean we will go down It's just something to note that one of the things that I look for when I'm looking for a long has disappeared from es for the time being And interesting on enq on this range So we broke up and we did a reverse spring or a breakout failure Or an up thrust whatever you want to call it. So we broke that range up took out the liquidity and then we came straight back down So i'm interested to see now Can we get back above 85 or are we going to go to the other side of this range? Which is really the scene of the crime down here at 70 So that is another example of that supply and demand trade. It's a slightly different way of trading it It's a trading a range version of it, but it is essentially The same beast, you know Rather than a channel or uptrend or a downtrend You're trading a range and you're finding the best way to exploit that for yourself So, you know the idea there if you got in around there on that break back in You would have scaled out some at the halfway point just in case it comes straight back up and then keeps going up Now if you do not scale at that midpoint Then there is the danger that you will get nothing from the trade whatsoever And when you were in these ranges and there's always the potential that at some point Sooner or later it will break out of that range And it will go at least the height of the range and maybe twice that height of the range In probability terms, that's the likelihood So that if you know if you held on and you kept your stop too wide Not only did you not get the scale for the midpoint of the range, but you know You suddenly got yourself in deep water for no good reason Okay, quick time check 853. I know I do rattle on at times. I do hope the microphone is clear today And it is picking up what I have been talking about So, yes, it's a little bit duller than I imagined it would be even though I have Commentated live on this action since just before 8 30 I'm glad you know, I mean I could have got a couple of trades out of this, but I don't feel like you know It's it was one of those opportunities to go and just get a Get to get that trade in NQ to go and get us straight 100 points in five minutes because that definitely Has not transpired here So it's a little bit different from You know from what might ordinarily have occurred on a volatile news release And it's also interesting that if you've got that call wall or that large options in spx up here Effectively 4607 4606 That is still bounding The price range of e s. In other words, we haven't broken out past that so that You know that stays in place as something to bear in mind when we get to rth In terms of seeing where that open interest is in In the options position in spx spy qqq etc There are lots and lots of free platforms out there brokers that will give you that information So you do not need to pay a fortune to get information about future options expires When you're talking about zero dte expires Yeah, you it's it's usually it is often the case that you may need to spend some money to get good quality information But for for future oi open interest That should not be the case you know One of the platforms in options that i've used for a very long time Interactive brokers for example, you know provided you've got your data fee in place, which is not much You can get that information on those options. You just look it up yourself I'm pretty sure the same in to s tasty trade you name it Okay So we are in this range And i'm just watching so again we're bounded by in e s at the moment The not that resting iceberg, which is dead, but this liquidity up here at 4590 The scene of the crime at 4580 and some new resting liquidity at 4578. So you've got this wide range Yeah, and why was i suggesting maybe to trade from there, you know, I was hinting that You know a trade from one end of the range to the other end of the range Might be the best trade that's available at the moment You know, you might get much much better trades than this When rth opens, but that was what was Currently being presented to us um So it will be interesting if this does turn in to be Does turn out to be a trend day because it is not hinting as such at the moment It is hinting at being a nasty choppy day a bit like a normal opx day It isn't really a the normal monthly opx The only reason I pointed out is because a lot of that for 600 spx options expires today Okay, um, just double checking no questions at all. Okay, well those quiet days where I essentially talked to myself and Hope that I'm providing some value to you Let me just zoom out at this stage so we can see if there's anything else from The map picture that we want to see That might be helpful to us So the biggest fattest thing in in es at the moment is this resting liquidity that came into place after 15 minutes after the um release And it's at 4568 And they they're advertising strongly that they don't want to touch that and they want price to come towards it Right, and you've also got this Arresting liquidity above at 4602 25 or 4602 50. So those are the two things that um And maybe this this doubles have liquidity at 4590 and 4590 50 So yeah, you've got a few things but essentially we're in a range And we're going from one end of the range to the other And we're not very far off the scene of the crime. So you could also say that You know great We had lots of up and down movement down movement first and then up movement afterwards second But we are still at exactly where we were at 8 30. So we are just chopping around The price zone that we that was in place at the 8 30 release Okay, just bear in mind where we are as well. Yes those Yes, those glow eggs. Oh, yes, these high is up at 4596 Yes days day low is There so these levels are the ones that I will be paying attention to you know, the high and the low Where settlement t plus one is Where the npc is where you've got some liquidity close by That's a negative point of control at just over 4602 4607 which is where the spx options will disappear today later today I don't know whether that's the morning on the afternoon So those are the levels just read to watch you know, if we you know, suddenly make a break Through one of those key levels on the upside of the downside, you know, maybe we will get a decent move The relative volume is 111 percent Which is low for an nfp release So far at this time of the day, you know, it's above 100 percent of what it's been for the last 10 days, but One would ordinarily expect it to be a little bit higher than that Half an hour after the release. Okay, I think I am at the end. So Yeah, we're right back to where we started. So, um, I hope this provided some value Um And yeah, have a great rth session trade well have a great weekend. Um, yeah, remember we're in december We're in the um santa claus a rally period almost people not yet, but almost So, um, yeah, cheers. I will hang up