 Good morning book map Welcome welcome. Hope everyone's doing good this morning. We got 33 people hanging out Please smash that like button. Please say hello in the comments Let's get the stream started my apologies for running late this week For those of you that don't know my name is Charles. I run a community called pirate traders and I'm here today on the book map channel to talk to you About the ES the NQ and how it moves through the two-way auction process So essentially my whole thing is I look at the market every day as a intraday day trader and I look for Opportunities where the buyers or the sellers have taken control of the market and I can try to trade with whatever momentum They have okay, so let's start off today by just taking a step back We'll do what's called the top-down approach and We'll try to give ourselves some insights as to what is going to happen today with the auction process first and foremost, I just wanted to mention that book map is running a Discount the Black Friday sale all the way up until the 28th So you have not missed your chance. You can still sign up and get that Black Friday discount and I highly recommend it. It's the best sale you're going to get throughout the year So if you've been thinking about trying book map, you ought to check it out All right, well now let's switch on over. We'll take a look at the daily. Oh, okay we'll take a look at the daily chart and Get some perspective So first thing we do when we have a top-down approach is we start zoomed all the way out at the monthly chart Looking at the monthly chart gives us an idea bigger picture of what's happening with the market now You might be thinking Charles. I'm a day trader What on earth do I need to look at a monthly chart for? Well, the monthly chart just gives you perspective Sometimes our brains can connect with information in different ways So you might see something on a monthly chart that you just don't see on a weekly or daily So what am I seeing looking at the monthly chart? Well, it looks bullish to me, right? The market was making a move to the upside It spent some time it pulled back and then it balanced off and Then we have now begun the process of breaking out of that balance the market pushed higher It came back down it tested The breakout from that balance area and it turned around and it moved higher So that is bullish to see that's the first thing I'm seeing when I look at the monthly The second thing is I'm noticing we are setting up for more balance on a monthly time frame In here the same way we balanced for you know a good year or so in this range right here We are now setting ourselves up for the next large monthly Balance area right now. Let's zoom in and take a look at the weekly So once again on the weekly we see that the market had momentum to the downside We had this trend line Which was acting as resistance the market was able to work its way through that trend line Broke higher came back down back tested and is now continuing to move higher So again on the weekly We still have momentum Okay, last week made higher highs and higher lows on the weekly time frame If we can keep that going this week if we can get a high this week above last week's high And we can keep our lows this week above last week's lows We can assume the momentum is going to continue to head up and test these previous highs up here however If we make lower lows on the weekly time frame That is a sign the market needs to pull back and balance on a longer time frame And that could lead to a large pullback or just spending a lot of time inside this range So we want to keep an eye on those lows on the weekly time frame and then last but most certainly not least Let's take a look at the daily So same thing we're seeing the exact same chart that we were just looking at on the monthly and on the weekly Just with a lot more detail. So what do we get from this? Well now something new is jumping out of me Something I didn't see in those previous candles, which is the structure For this move to the upside and what am I noticing? No Sellers at all From the moment it broke Okay, you had a massive candle of momentum to the upside that left behind excess Okay, that left behind weakness that needed repair But since then the market has done nothing but balance up into the right It has created a channel on the daytime frame and it is balancing. So Traditional TA wise that's bullish to see because we're building momentum to break higher But I am thinking We are leaving a lot of weakness behind in here. So let's zoom in on The market profile chart and take a look at that weakness. So we've got the gap up from the 13th to the 14th. Okay, so this area here is Weakness that needs to be balanced off. Okay, we've got the lows from the 15th That is also weakness that needs to be balanced off. So my assumption this morning. I'm gonna take Friday's range right here the range from the 22nd Whatever day that was I was on vacation guys. Don't ask me. Don't ask me to give specific days Whatever day this was right here That's sort of my range for today, okay The overnight was respecting that range over the weekend and just barely poked lower to test it So the question is is that all the market needed? Are we ready to continue higher? So basically as long as we are above that low as long as we are above 4555 I will remain bullish as long as we're above the low I'll assume the market is building up steam to keep going up. Why well because look at that daily Right look at all those things. We just looked at the market has momentum It can keep going this momentum can keep going. There's no reason to assume it won't So the sign for me that it's gonna keep going is staying above that low We could just call it the overnight low at 45 52. Okay If we push down there and we begin to get resistance So if we push down below this low And we begin to get some resistance We'd look to test the overnight low if we get to the overnight low and we push below and get resistance I then believe we need to start heading down and repairing some of this weakness So resistance at this low here resistance at the overnight low there that is the sign That the market could give you this morning to tell you that the momentum up on the daytime frame is over Right that this what we were just looking at is Not gonna keep going We are not just gonna keep going higher and higher and higher like this the sign for that is making that new low Okay, if that happens the minute it happens Repairing all that weakness we left behind comes into play suddenly. I'm asking myself. Can this thing keep going or not? I don't know, but that's what I'm thinking. I'm thinking can it go all the way back down to fill that gap So I'm starting to monitor for continuation to the downside I'm starting to ask myself. Okay. We push below this low. We got resistance. We push below the overnight low We're getting resistance. Where do I think the first stop for the market would be? Okay, so the first stop for the market would be to test the low from 1121 at 45 38, okay If it gets to there so resistance Push lower if it gets resistance there for continuation lower The target comes becomes repairing these weak references at 45. Oh six, okay Now maybe all that happens is it pulls down it pokes that you know those levels and then it turns around and heads back up Yay, it's bullish again Or it pushes down there It repairs those weak levels and then it gets more resistance more new selling if that becomes the case Then I start to look for that gap fill can the market keep going? Okay, so to the downside resistance at the overnight low to test the low from the 21st Resistance at that low to test the weak references down here around 4500 Resistance down there to test the gap fill Okay, so this is what I call monitoring for continuation lower If they get below that overnight low, that's all I'm asking myself. Do we have new sellers? Do we have resistance once I see it? I assume we're heading down to the next level once we get to that next level I'm asking myself. Do we get the resistance? Do I see it in the chart if I'm seeing that we still have more sellers? I'm assuming we're heading for that next level if we get to that next level same thing again Same thing again It's a really important concept to understand because so many people if this were to happen today We'll be thinking got to buy the dip got to buy the dip got to buy the dip Instead of watching the momentum lower to see how far they can push it and you want to be the guy watching the momentum Okay, great Well, now let's say the market pushes down to that overnight low, but it doesn't get resistance there Let's say the market pushes down there and it just comes right back up boop boop Well, then I'm gonna assume that today will either be a sideways day where we'll just kind of bounce around inside the overnight range or It's bullish for continuation higher So resistance at the overnight low bearish a look below and fail is neutral to bullish to see okay If the market opens and it immediately heads straight above the overnight high, which is at around 45 69 That would be bullish to see and I play the exact same game at the overnight high That I talked about at the overnight low So if we can get to that overnight high and we can get new buying We can get support up there at the top of that overnight high. I then look to target The high from the 22nd right there at 45 80 That one would be particularly bullish to see because we do have a previous gap above That still needs filling So if the market were to work its way up to that overnight high and it were to bring in new buyers up there I were to see support up there. I would assume it's heading to 45 80 Once it got to 45 80 new buying up there would be very bullish to head up and fill that gap And then we would literally just do the exact same thing we talked about to the downside, but to the upside instead So we'd be monitoring for continuation higher once we repair the first week reference at 45 90 is that all the market needs does it just poke up there and then come right back down or Does it poke up there and find new buyers and get support up there new buyers up there Sends us to the next week reference at 46 05 then again up to 46 0 9 and so on and so forth Okay, we monitor for continuation higher Now if either of those things gets to that level and fails So if we have resistance at the overnight low That takes us to the low from the 21st and it fails and pulls back up or we get support at the overnight high Which takes us to the high from the 22nd And it fails and comes back down Well, then we're just gonna expect it to go sideways and give us rotation for the rest of the day Okay, so to be bearish. I'll give you the whole thing again For the people that are just joining the channel now, please smash that like button And I'll give you the whole recap because it's quite simple If the market opens and it pushes below the overnight low we are looking for continuation lower If the market pushes above the overnight high We are looking for continuation higher and if it fails and it can't do it in either scenario We're looking for more sideways inside this range up here As far as making a prediction now as to what I think the market is gonna do I have nothing for you. I will have to wait until the market opens I will have to see how it reacts to this overnight range because to me Anything could happen this morning. It could go up. It could go down. It could go sideways all day And we just got to use whatever it does and the information that gives us as an insight moving forward to look for trades Okay So let's zoom out here on the book map and we'll try to give ourselves an idea of where is the liquidity in the market Okay, is there more liquidity above price or below price and Where are the important levels? Well looking at it right now I'm seeing that there is more liquidity below price than there is above But I'm noticing something very interesting to me, which is this big note of liquidity Right up here at 45 85 Whenever I see before the market opens on a day a random level like this that has just a massive amount of liquidity sitting on it I know why that's there. I know what the market is trying to do The market is trying to convince traders that they can go long and there will be liquidity waiting up there around 45 85 okay So think about it like a magnet that is tugging on price all day long The market is just everyone knows they could get up to 85 and there would be liquidity up there But interestingly enough if it disappears at some point in the day Particularly if it disappears right when a low is broken somewhere in the chart That is a sign that this is just a giant spoof and the minute it disappears The market will likely start to pull back because that's the magnet that's keeping price up here It's tugging and it's tugging and it's like come on come up to 35 or 85 Come test us So as soon as it disappears So does that magnet and the market will likely pull back But as long as it's there it's worth keeping an eye on because that is the eventual target for the market Should they get that momentum to the upside very very exciting one minute to market open Say good morning in the chat smash the like button share with your friends Good morning to Tom There you go market is open Good morning to Mike who thinks okay J Michael Malak He says possible false breakout for December with the resistance back into range Yeah, that is very possible. I could easily see the market if we zoom back out on the daily time frame I can easily see the market making one more push to the upside to test these highs in here Okay, the 46 30 area and then it comes crashing back down for all the weakness that it left behind Because that would be balanced on the monthly Which we talked about It would not be unreasonable For us to stay stuck in this range for a little bit So if that were to happen those previous highs are where the market would lose steam and turn around But that doesn't mean it has to get up there first So Assume they can keep this momentum going assume they can keep pushing the market higher and higher But yeah, as soon as it gives you a signal. It's failing. It's got to pull back and repair some weakness Okay, so right out the gate the market pushed to the upside it is trying to test the overnight high But it has done so leaving behind what we call a weak low So that basically means the momentum is up They're trying to get up there and they're trying to test that overnight high At 45 69 but they will probably need to come back through the low Once they do so that increases the odds of a look above and fail at the overnight high Alright, so passing back through the opening price obviously increases the odds. We're gonna repair the weak low But it also tells us this market is set up for chop this morning Okay, they created a weak reference They made a move they could not test the high in a when what should happens doesn't they came back through the opening price That tells us the market wants to go sideways for a little bit So I'm now looking for support somewhere inside this overnight range To turn around and head right back up for the highs Let's see what happens looking for support at 45 58 and 45 55 It's a chop zone And they're chopping it up Nor says can we take a look the queue we absolutely can Let's take a look at the end queue Okay, so I would describe the end queue as being in the beginning of a balance area here It feels like the momentum to the upside might be over For the queue the reason I say that is because this has so much This is like such a clean high right here That's often what and you know the excess that the high will look like before the market reverses back down And so that tells me the highest probability At least at this moment in my mind is that we are heading from this large cumulative node back down To this large cumulative node. Oh, we did it in the overnight So yeah, that is just less bullish to see right that the market made excess to the upside Because that means it needs to get balance to the downside, you know So that's the first slightly less bullish thing to see you also this morning had a look above and fail of the overnight range So the market pushed up above that overnight high and it could not find support It could not bring in new buyers up there So that increases the odds that it's heading down to test the low the overnight low If they do that again if they look below the overnight low and they fail, okay, great Then we're going sideways for today But if they look below that overnight low and they get new selling Down there. Well, that is bearish to see and We start to monitor for continuation lower the next stop would be this major cumulative node at 15 866 So test overnight low new selling Head down to 66 Look below and fail go sideways the rest of the day Let's see what happens. I will say on the NQ. This is not a good high right here It's just very messy And so that increases the odds of sideways for today in my mind more so than Continuation lower, but of course, we just won't know until we test that overnight low But I'm feeling sideways at the moment. Good morning to Alex blessed to move SC Dean welcome SC says quick question The high of 1121 is the same as the low of 1122 Which is 45 54 75 Assuming this is weak Let me go take a look Yes, and it's a poor low actually good catch Man, what a perfectly timed call. Let's see. Thank you, brother. So that poor low Being right there at 45 55 means that the low we just made is a weak low So that just tells us more chop more sideways We can't trust this support. It's bots. It's computers buying here Good morning to nap welcome Thank You ships appreciate you Trader Ned in the house Malank is here Sebastian says good morning and good trading to all I concur Triple X says thoughts on crude I don't trade crude. I could look at it. I'll be telling honest with you I would not want to be trading crude this morning. That is tricky So essentially the way I see it obviously you've got momentum down You got this this, you know, sort of whoops, that was a terrible drawing You got this sort of channel To the downside happening here, right? That is bearish to see But you're in a balance area right now over the last, you know, week or whatever And you're testing those balance area lows So that could reverse and come right back up for all you know You're also retesting previous support over here So, yeah, I'm sorry. I don't have a good trade for crude right now I would say assume it's going to keep going lower until it makes a higher high That's pretty much the best you got so as long as the high today stays below yesterday's high Assume tomorrow it's going to keep going lower and so on and so forth And as soon as it makes a new high look for a reversal because it's in balance I can make a case for it heading up or down from here Tricky tricky tricky. Yeah Sorry Can't be a more help Malik says I got to join the academy You're doing some very good analysis I am actually teaching a course next week if you head to marketsandmind.com marketsandmind.com You can sign up there starts next monday Okay, so as I said a few moments ago Normally right now I'd be saying oh look we got support now We're going to head back up through the opening price and go test the high But because that low is weak because it's only got 23 contracts that traded at the low Which to us is considered low volume And the fact that it stopped right at that previous low Right at that previous poor low tells us this was just bots buying And that the momentum they're building right now The way it's making you feel like the market is going to go higher That is just them trying to bring in new buyers here Because those buyers will put their stops just below the low So the market will make a little move up and then come right back down for those stops So I am seeing chop here and more sideways Good morning to grizzly bull Welcome john Sahil says could you explain the difference between the big green box And the largest line I get confused which one is the poc. Yeah, so the the big green box That you see that is either if you're looking at the current time frame. That is the Current price so you can see right now. It's a small green box because We only have one tpo, but that's just showing us where the current price is Okay, when you see it in a previous day's range So like from the overnight range, you can see that green box right there That is just showing you where the closing price was For that overnight Okay, and you'll also see this little green dot is showing us where the opening price was for today's profile And you can see it's the same level right The green line that you see going across here That is the point of control. Okay. It's where the letters change color And on the regular trading hours, they'll be yellow Like that right there So of course what he's talking about is what we call the point of control The point of control is the level where within each profile the market spent the most time So I split out my profile. It's a little confusing looking at last weeks because of you know the vacation Um, but generally the way it works is I've got the the dark purple Profile that represents the day time frame. Okay, and then the white one with the light blue that represents the overnight So where you see The letters Are uh, are yellow on the regular trading hours. That was the poc for that day And where you see it on the overnight that was the poc for the overnight The yellow represents where the poc was in that particular tpo And the green is wherever it closed So if we look for example here And we zoom in we can see in the a period The poc was up here It was down here in the bc and d periods It was up here in the f G and h periods and then for the rest of the day it stayed right there and that's where it closed So that allows us to see how that point of control is changing throughout the day How that ferris price to do business moves around But we don't care about the poc right now too early right now All we care about is the initial balance. That is what is the market going to do for the first hour of the day For the initial balance as I discussed this morning really all there is Is the overnight high and the overnight low Do we get above it? Do we get below it? If we do do we get new buyers? Or do we fail? Do we get new sellers or do we fail? Other than that it's just chop, baby They're just chopping it up arson says What do I think about the nq? I think it's in a chop zone They're gonna chop it up Yeah, for sure. It's just chop right now. There's nothing to do with the q So basically as long as they're below the overnight high as long as they're below 16 0 23 The higher probability is that they're heading down to test the overnight low at 15 9 40 Okay, but if they push back above that overnight high And they find new buyers up there. Well, then the momentum to the upside starts once again And this was just a dip right But right now it feels more likely to me that they would look above and fail again, and we would keep going sideways Both markets feel like they need to chop They're not ready to make any move right now, and it probably won't happen until after 10 30 But we'll wait and see One step at a time. Uh, thank you nor. Yeah, I haven't had a chance to log in this morning and fix that I'll get to it as soon as this dream is over Any other questions We got 150 people hanging out. We're just going sideways Let me know what you got any questions hit me in the chat dnk says home sales in 10 minutes. Thank you for the heads up For those of you that don't know anyone that's new to the channel. I don't pay attention to um data like that As a way to make decisions for trades, but I do like to know it's coming out just so that if there's a little flurry of Volatility that happens. I'll recognize it and not Be confused Okay, so they're coming back for this low Will we repair the poor low getting two ticks or sorry one point below it? Or do we just bounce once again? Making it even weaker Let's see what happens Do you see tilt? I'm not sure what you mean by that question. Can you phrase that differently? Do you mean tilt the emotional reaction when people get upset and they over trade? For those of you that don't know that in poker, there's a term called going on tilt Which basically just means You get upset because You're losing and because you get upset you make bad decisions and then you lose more And then because you get more upset you make more bad decisions and you lose more And that is something that happens to us as traders We call it revenge trading And in my opinion, it is one of the easiest things to fix If you find that you revenge trade just make a rule for yourself Say, you know, if I have two losing trades in a row or three losing trades in a row I just stop for the day or I stop for an hour You know something as simple as that As like, you know, I take three losing trades in a row. I take an hour off Could save you so much money in the long run You know, give your brain time To slowly wean out all those fight or flight chemicals And get back to being calm and rational and thinking clearly Then come back to the market That's how you avoid tilt But obviously I don't think that's happening right now It's a two-sided market. Half the participants are buyers. Half for sellers. We're just playing tug of war here Where tilt will happen where the emotion will happen will be at the overnight high or the overnight low Right when we get there Or we get here, that's where people start to get emotional, right buyers Who've been putting their stops at that overnight low get squeezed Okay Anyone who's flat starts to feel like they should be getting short because they're seeing momentum to the downside So that is a moment for the market to get emotional And make a move same exact thing up here But as long as they're in the middle, nobody's really emotional You know You could have been buying anywhere in today in today's range and still feel confident to be a buyer because we're above that overnight low And same thing if you're a seller So for now, I just see it as chop sideways Speaking of which they just made that low weaker Twice they poked at it And now they're doing it again They're trying to convince you to go long right here. Look at that. It's a triple bottom I gotta have it. I gotta buy it But where oh, where are you putting your stop if you are buying right now? Right below that low and you're just building liquidity down here So the market will come back for that at some point He says no, I was talking about the percentage of buyers and sellers Yeah, no, that's not something I look at So if you If you look at this column right here Okay That is showing the delta between buyers and sellers. So you can see at each price level Um, was there more buyers or sellers there if it's a positive number It was more buyers if it's a negative number it was more sellers And then obviously the larger the number The larger the imbalance one way or another But to be totally honest with you, I don't really look at that at all It's there. I'm aware of it, but I really pay more attention to momentum So I pick specific areas where I think the market is going to do something And I just wait and see what it does when it gets there Are there buyers or sellers there, you know at that moment? I'll look at that Um Delta and see what's happening Busta move says it seems like there's a lot of time spent at the lower end Is that new business? No, sir I mean, it is new business, right? There are they are convincing day traders right now this morning to go long That's what they're doing But the question is who are those traders Are these good strong hand buyers are these long-term investors that are going to hold this for the market to make another 100 point Move to the upside of course not their scalpers their day traders And all it takes Is one little poke at that low and they all disappear poof Every buyer that showed up so far today instantly disappears when we test that low. So um No, I don't see this really as anything important. Like I said, it's just tug of war Just waiting for one side to give up any other questions Okay, so we're seeing the liquidity is beginning to go dark here in the book map You see how instantly all these levels just disappeared at the exact same moment Right, just turned off And then the liquidity gets very dark Inside the order book that is preparing for that news release in one minute So the regular bots are turned off and now we are in news bot zone Which means they can make a move very very quickly We don't want to trust any move even if they instantly poke higher or instantly poke lower We don't want to trust it while the liquidity is thin Because we know it's just the news bots. Here we go It's just the news bots and it doesn't matter what they do The market can turn around and go against them two seconds after it's over. So Let's give them a second and let them play tug of war A dnk says if we get above the open the shorts get scared same as the longs at the low No, not above the open I would say You're gonna have to get all the way above the overnight high Arson says do you like scalping the open? For 30 seconds to five minutes No, I do not I do not take those trades. I do not take them Sam I am I do not take them with great eggs and ham not at all. No, see I used to trade like that You know like oh look the market went You know down 10 points and up 10 points and down 10 points And I could have made money on that trade and that trade and that trade and that, you know, but what I have found is Trading like that is very very difficult to do over a long period of time You may have a great week. You may even have a great month But good luck having a great year trading like that When you start to expand the time frame of how much trading you do Taking those quick scalping trades that high speed environment It is exhausting on the brain. It'll wear you out and it's just not something that I could do for the rest of my life It just wasn't possible. I'd go crazy So now what I do is I trade on a much slower time frame So I'm looking for trades that I'll be sitting in for, you know, a half an hour to a couple of hours Something like that. I'm trying to catch the bigger move the market is going to make so as I said You know, there's there's one of three scenarios in my mind that's going to play out today Scenario number one the market just goes nowhere. It tries to go higher. It can't it tries to go lower It can't and we just kind of go sideways That's a scenario of what could happen today. And by the way right now what is feeling like the most likely Um, the other scenario would be it pushes up and gets support and then it it heads much higher Or it pushes down it gets resistance and it heads much lower, right? I want to play this game Right. I want to be this trader that's grabbing that bigger move the market's going to do throughout the day And the reason is because it's much easier. I don't have to make a decision quickly I have all this time to plan ahead Where does the market have to go? What does it have to do to convince me to get long or get short? Right. I can I can take a full hour It looks like at least to think about it and kind of decide Where do I want to get in? What's going to be support and resistance levels? Where am I going to put my stop? Where am I going to take profits? How far do I think this thing can go? I don't have to make a decision like every two seconds. Oh my god. Get in get out get in get out I can just relax and wait until the market comes to a level where I know what's happening where I have an edge Then once I get in that trade The edge just becoming staying in the trade As long as the market continues to head lower as long as we are monitoring for continuation And we're getting signs of continuation We just stay in the trade and it will shock you how far they can push it and you may end up making a lot of money that way Right, whereas I know no matter what if I'm taking a scalp trade. I'll be lucky to make a few points So my my gains are kind of limited I have to take profits quickly And I have to make my decision very quickly And I have limited information to work with boy. That sounds like a really hard way to trade If you want to trade for years and years and years to every day of your life do that Whereas slowing it down a little bit and waiting for those bigger opportunities That's manageable. You could do that every day and it's not overwhelming Now you might miss some chances, right? It might be that I'm waiting and waiting for the market to get to the overnight high or the overnight low And it finally gets there and I miss read it Maybe it comes down to the overnight low It pokes down there and I think oh, we're getting new sellers Here's my chance the market's going to go lower and I get short and then I put in my stop And then boop it stops me out. Well, shit Now I've got to wait and wait for my next opportunity Man, I spent hours waiting for this chance and I got stopped out. Well, that's fine I just accept that that that happens that sometimes I'm super patient waiting for a setup and then the setup just doesn't work And if you can accept that then trading becomes so much easier All right, so now that that news bot is done. We can see the liquidity coming back to the market You can see here where it went dark and it all disappeared and you can see here. It's starting to come back So now we can start to trust support and resistance levels Now we can start to say, okay, the real traders are back in business here. The news bot is done So let's see what happens So now I will be watching the half back and the opening price which we're dancing right on top of right now For potential support If they can hold this level, I will assume they're heading up to test the high If they come back through, I will assume they're heading down to test the low Can they hold the half back? Okay Well, that support at the half back is holding so that increases the odds that we're going to test the overnight high Up here at uh 45 69 But because we left that weak low behind I believe the higher probability is that we will get a look above and fail So we'll poke above the overnight high Poke above 45 70, but then we won't find support and we'll just come crashing right back down So i'll be looking to see can we get that support or not If not, i'll be assuming we're coming back through the opening price Let's see what happens Okay, so the half back here at 45 62 held his support Excuse me on the last test right in here Okay, so now we assume it's going to hold the support once again Man, I was really hoping to have more information than this before I ended this stream I feel bad All right. Well, yeah, they're not giving us the bounce here. So I'm going to explain to you where I'm at and what I think is coming next if you're not a regular to my channel Um, you might find this a little confusing because it'll sound like I'm saying the market's going to go up It's going to go down. It's going to go up. It's going to go down, but just try to follow along. Okay So right now we are in the initial balance Which means the market is playing tug of war. No one's in charge yet The buyers are not in charge the sellers are not in charge There's they're both just competing right now. They're trying to see who's going to take charge of the market Now it appears to me The first attempt at making a move is going to be by the buyers So I think the buyers are going to head up and test the overnight high around 45 70. Okay We don't know yet what will happen when they get there They could get there and instantly run out of steam and come pulling right back down To me that feels like that's what's going to happen. Okay However, if that doesn't happen If they poke up there to that overnight high and they do find new buyers up there It will take me all of two seconds to change my mind and decide we've got buyers at the overnight high We've got momentum. Let's start monitoring for continuation to the upside. Okay So right now it looks like they want to test that overnight high first. It looks like it'll fail But anything could happen. Right Now let's say I'm wrong and let's say the market does not hold The support here at the half back. Okay So the market comes back down and it passes back through before it tests that overnight high Then I think we're looking to repair the low And I think the same thing will happen there. So we'll poke below and come right back up But just like I said with the high if I see new selling down there, I become bearish for continuation lower Okay, it will take me all of two seconds to change my mind and get bearish However, right now The higher probability is sideways It feels like the market might just have one of those boring sideways rotational days So the thing that will tell us if that's going to happen Will be if it looks above the overnight high and fails or looks below the overnight low and fails Support or resistance there means I'm wrong and the market's beginning momentum in that direction So with that I will say happy trading Um, I know that's not super helpful Because we are still just stuck in the middle of the initial balance. We just don't have a lot of information to work with But for now, I'm bullish to test the overnight high and we'll see what happens there Thank you very very much As I mentioned earlier Next week starting next monday. I am teaching a live workshop. You can join us by going to markets and mind dot com marketsandmind.com That interactive workshop is basically just you join a webinar via zoom And it's four hours a day from 11 a.m. To 3 p.m. For two weeks straight So it starts next monday it goes for that week and then the following week after that I teach everything that I use to be profitable as a trader not just how to read a chart Not just how to know what the market is doing, but how to manage yourself as a trader What are the things you should be doing with your life in order to improve your trading? How should you be analyzing your decision-making mechanisms to improve upon them? So every day you get a little bit better So absolutely I teach the ta. I will teach you how to read market profile software I'll teach you how to read book map at least the way I do anyway Obviously book map is very complex. Um, but the way I use it I'll teach you everything and then of course the internals as well I will teach you all the ta But that is really only the first step and it's the stuff that comes after that where you learn the process of developing a system A process of improving over time. That's really where the the magic exists So you only get that if you take the workshop And you've only got one more week to sign up. So head on over to marketsandmind.com Thank you very much And we will see you next monday if you're a member of the brigade Head on over to the private stream and I'll see you there. Thank you very much guys. Have a good one Bye