 Good morning book map Welcome welcome. Hope everybody's doing good this morning Happy Monday only two people have said hello Thank You Raphael and Michael everyone else jump in that chat say good morning. Say hello And if you have not yet, please smash that like button that thumbs up for those of you don't know My name is Charles. I run a community called pirate traders. We have a YouTube channel called pirate traders. Check us out there and Basically, we trade the two-way auction process We're mainly focused on the ES and the NQ and how they move through a two-way auction process that is simply a way of Recognizing at this moment right now. What is the market doing? Who is in charge? Where are they pushing it? What are they trying to achieve right? That's basically what we're asking ourselves all day every day. What is happening right now? if we understand Through the lens that we look at the market if we understand what is happening right now There is a chance that it might give us a statistical edge It might give us an idea of what is more likely to come next in Terms of statistical probabilities based on what is currently happening So as a quick disclaimer everything I talk about today is just my own opinion It is not the opinion of book map and don't take any trades based off of anything that I say Because I'm just sharing my perspective on the market. It's important to understand my success as a trader as a day trader My personal success doesn't just come from my ability to read a chart It also comes from my ability to be disciplined in what trades I enter How I manage those trades and to have a Systematic approach that guarantees that as long as I'm right half the time. I'm profitable Okay, that is a humongous part of being successful as a trader and that side of it. I can't really teach you I can't really teach you how to be disciplined not in a live stream like this But what I can teach you is how to look at the market how to understand what the market is doing and how to look for Opportunities to make money off of that understanding Then what you do is you take that experience that I've shared with you and you put it to work every day you take the concepts that I discuss here and you think about the market like that every day and Little by little the market will make more and more sense to you. You will understand. What's happening? Even when what's happening is random you can understand that it's random you can go Okay, something funky is happening here that isn't normal or oh, I know exactly what this is I've seen this movie a million times and so by having some sort of perspective You will have an edge on understanding what comes next then you can experiment with your own risk management With your own trade setups with your own systems to create the discipline to only take those a plus setups That's on you, but what I can help you do here is learn how to read the market and doing that through a two-way auction process So let's jump right in Without further ado, let's talk about the auction process. Yeah Okay, so let's start zoomed out a little bit looking at the market on a day time frame on a day perspective Actually, let's zoom all the way out. We'll do a full top-down of the market Jim Dalton's top-down approach We will start with the monthly because we can look for perspective on Larger time frames, right? We might be intraday traders who are taking a trade, you know Trying to make money over the next few minutes or over the next few hours But understanding what the market is doing on a larger time frame can give us guidance on those shorter times Frames, okay? So on the monthly the market is basically just in balance, right? We had this massive big bull market Back in 2020 What feels like forever ago and since then the market has basically just been going sideways on the monthly time frame, okay? So what are we looking at as important levels? Well first and foremost this candle which represents this month broke through What could have been support, right? There was a very good chance on a monthly time frame the market could have broken out of this support come back down to back test it and Then turned around and kept going higher But it did not that is not what it did it instead came crashing back into all this previous trade in here So again, I really want to just keep emphasizing. We're talking about within different time frames here So on the monthly time frame Monthly we have just failed a big big opportunity to bounce and continue to all-time highs and Pulled back down into the range. So on a monthly time frame. We have momentum down We have lower highs and lower lows So tomorrow will be the last day of this month. We should assume going into next month The higher probability is more downside continuation, right? Because they have the momentum on the monthly they had an opportunity to reverse it and they didn't so now we probably need to Head down and start testing some of the lower support on the monthly time frame, which is below 4,000 Okay, so that's bearish to see now. We'll take a look at the weekly time frame Okay, so on a weekly time frame. It looks a little different, right? On a weekly time frame, we get a little more information. It's not just three straight months of down momentum We could see we got overextended pulled back tried to break higher failed Balanced for literally like a couple of days and then failed again and we're breaking lower So we can see that whilst on the monthly time frame. There is momentum lower Right where it's not a straight line. We are trying and Trying to build support and reverse this thing around. We just haven't found that level yet Okay, so what are we looking for on the weekly time frame? Where is that level that we can flip and reverse? So that's when we got to start looking at the lows from back in here, right? Where did the market flip and reverse the last time that it was down here? Those are now the areas of interest for it to flip and reverse once again. That's looking at the weekly Okay, we also have a trend down on the weekly, which is bearish to see But on the weekly time frame the market has gotten very very extended to the downside So it's not impossible to have three, you know weeks of straight down movement We can definitely do that, but we don't often have that many with that large of candles So it wouldn't be unreasonable to either go sideways or lower this week In continuation of that momentum and then lastly, let's take a look at the daily So my initial reaction to the daily is that we need a bounce We did technically spend a couple of days balancing last week But that was very very little balance and we've already gotten enough excess out of that It does look to me on the day time frame like we need to spend some time balancing Okay This is a very very very big move to the downside and we are testing previous lows Right around here So you would think if the market How do I phrase this if the market isn't going to keep going down it should go up today It should head up today Make a higher high Above Friday's high and then that would be the sign that we're either going to go sideways In the days to come or we're going to pull back up in the days to come If the selling continues here if the market opens today works its way back down below Friday's low and Gets new selling there that is a sign. It doesn't even really need new selling there If it just gets below Friday's low that is a sign that the pullback is not over on the day time frame And we need a larger pullback So this is an excellent area where we're opening today for the market to reverse and start heading up But if it doesn't more down to come I'd be looking at the next major support for the market around 4095 in the days to come Maybe 4085 Okay, so now let's take a look at the market profile chart And we'll try to pick up on some nuances here So a couple of things that are worth mentioning right out the gate First and foremost, we are stacking up a lot of VP OCs above the market Okay, that is untested virgin point of controls or the highest volume node from that particular day The more of these that we stack up the more that it is a sign that the market is running out of momentum in whatever direction It's going Same thing with all the weak references all the little green sections that you see on here These are all a sign that the market is getting itself overly short overly fast And it is likely to need to pull back up So the first of those that will be important is the one from Thursday at 4184 or sorry 4180 So this is the overnight range right here from 4172 down to 4135 that is the overnight range that the market is in So when the market opens this morning remember because of the monthly and the weekly and the daily What am I thinking first and foremost the momentum is to the downside? So I'm thinking the higher probability is that throughout the day today the market wants to work its way down You know to test yesterday's low Okay, that's the target where the market wants to go and see if there's more business down here Do they poke down and find buyers down here or do they get more sellers and continue lower? My guess because of the momentum on the daily would be that's what the market wants to figure out is what's going to happen at 4122 that is further increased by the fact that it was a poor low that we left behind last week and We were stacked on top of previous poor lows. So all of this is like a giant magnet this morning tugging on price Saying you know come on down. We've got the momentum. You know, you want to come down here and see if there's any business to be had Come see if there's any sugar down here. And so That is where I think the highest probability of the market will be So what I will do is I will look at this overnight range as a chop zone So I'm assuming we're heading down to the low But I think we're gonna need to go sideways for a while first I think we're gonna need to chop and grind and go sideways first Inside this overnight range. It is how we break out of that chop zone That will tell me if we're likely to head for yesterday's low or if we're likely to head back up For that untested virgin point of control from Thursday of last week, right? One of these two is going to get tested today What happens at one of these two is going to lead to what comes next if we get back up and we test Thursday's Virgin point of control and then fail and just head lower Well, then the market is likely to go sideways for the next few days If the market works its way up to that VP OC and it brings in new buying Well, then it means we're likely to pull back to the upside over the next few days and repair some Of this weakness that we left behind right, so if we get to the the first VP OC and We sell sideways for days to come if we get to it and we buy heading up to the next one And same thing there to the next one and so on and so forth. Okay, and then to the downside It's what happens at yesterday's low new selling down there Continues for those weak references or a look below and fail Increases the odds of sideways for the days to come Okay So inside that chop zone inside that overnight range. It's very hard to take trades It's very hard to enter a trade inside of here Because you just don't know where's it gonna reverse? How far is it gonna go? Okay? I think it's gonna go down Let me get short. Oh shit if find support it comes right back up. Do I get stopped out? Well, then I shouldn't have gotten to that short you know Same thing if I try to take a rotational trade. Maybe I'm thinking okay. There's lots of Support in here around 4151 we've got a weak reference Are actually that we won't matter But we got a lot of support in there So I'm gonna go ahead and put a buy order in right there to go long right there And then I fill that long order For the market to reverse back up. Well, what if it comes all the way back down to here and Then it reverses back up. Are you gonna get stopped out? Well, then it wasn't a good trade So inside this chop zone It's going to be tough to take trades because you don't know where it's gonna reverse and the only way to get in a trade That's really safe Is to use the ends as your stops So if you're getting short you're using above the overnight high as your stops If you're getting along you're using below the overnight lows your stops But then look at the amount of risk you'd have to take right you could be getting short right here Accepting like, you know four points of risk and then you only get to right there and it reverses and comes back up So it wasn't a good trade. It was a one-to-one So inside the chop zone this morning It will likely be very difficult to to enter trades with any sort of statistical edge That allow for good risk reward but If it breaks out if it gets above that overnight high if it gets above 4170 and it finds support You can absolutely get long first to test Friday's high Then to test that volume point of control Then to test the previous days high or the previous overnight high and then monitor for continuation higher from there That is an excellent opportunity to make money Okay, same thing if it gets up there and it fails If it works its way up to yesterday's high to Friday's high Repairs this volume point of control at 4180 and then it fails and it pulls back in we don't get new buyers Well, then there's lots of opportunity to make money in the balance that will follow in the going sideways Inside Friday's range that will follow you can go long you can go short you can make money all over the place After you see it fail Okay, and then same thing with yesterday's low pushes down there gets resistance Well, there's a net sorry overnight low is the chop zone so it pushes below the overnight low gets resistance That's an excellent opportunity to get into a short to test Friday's low Once it gets below Friday's low more resistance there You're just monitoring for continuation lower and you just make as much as you can on the downside If it works its way down to Friday's low and then it fails and it pulls back up into the range Lots of money to be made trading it sideways inside the range Then does that make sense guys? so there's lots and lots of money to be made trading rotation and trading chop Inside yesterday's range inside Friday's range Okay, lots of money to be made but not in the first freaking hour of the day where we don't know what's going to happen Later in the day once it's tried to go higher and failed Then there's an opportunity to make a lot of money in here or once it's tried to go lower and failed Then there's an opportunity, but trading the chop will be very very tricky So with that being said the major support below is going to be 41 50 the major Resistance above is going to be 41 70. Let's see how it breaks out of those zones Eight minutes left till market open. Let me know if you got any questions Just bore you guys to death Good morning to Michael welcome David G in the house past 2910 Freed out. Good morning to you and hello trip deaf Happy Monday Thomas. Good morning to you Shawshank in the house Jay says, thank God. It's Monday and the casino is open. I was just trying to explain this to a lady friend last night Who was talking about how she wasn't looking forward to going to work this morning like how on Sunday nights? It's it's like annoying that you have to go to work on Monday, and I was like I literally have the exact opposite By Sunday night, I'm desperate to get back to the market on Monday But that's because I'm a gambling addict. Good morning to bust a move Busta move says what does a VP OC repair look like all references being repaired just means the market passes through it So just simply that price will come back up there and we'll poke at least two letters above it and come back down So once it gets good excess above there, it's just gone it no longer exists So for example, let's say you watch the market open It comes down here to around 41 50. It bounces a little bit. It finds some support there It comes back up. It works its way above the overnight high. It's bouncing around It's finding support in here. You could choose to go long here and You would put your take profit. I Always put it a tick below the level. So you put your take profit at 41 79 75 Okay, and then that's that's all it's good for it's just a target to get to Once the market gets there. Who knows what comes next? Asta la vista Barbie I don't know who you are Asta la vista Barbie, but I love it Hello and welcome he says what do you think of BTC? Yeah, we can take a look at the the Bitcoin Bitcoin Oof This is why I hate the Bitcoin. That's why I hate it so much So yeah, they have momentum They got this massive move to the upside They're now creating a balance area and it looks like they want to break that balance area to the high so I would say Pay very close attention Pretty much to the high right now from today or you could say 35 I just call it straight up 35. So if the market pushes above 3500 again Okay, it is likely to go much higher and the reason is because You had balance excess balance Excess and now you have balance again. What does balance lead to? Excess so if it breaks above 3500 and it comes back down and it turns it into support it is likely going to make another big move up Okay, if it fails though if it looks above 3500 and it fails and it comes back down Look for it to come back and test 3400 a failure there will lead to a much bigger pullback So Bitcoin has this way of moving where it like goes nowhere for a while Then it makes some big huge move and it just like gets as many people long as it can and then whoosh it comes right back down Okay, and it just murders everyone I do believe that whoosh back down candle is coming to test probably the 28 area in here Okay, I Just don't know when and they certainly could get another push to the upside so it's not shortable here But if they look above 35 again and fail It would be an excellent short to me because you can get a move at least to the opposite end at least to 34 Maybe 33 and then if that bigger break happens Right back down But as of now today it looks bullish looks like they want to go test 35 Bitcoin the ultimate chase trade You either got a hodl or you always got a trace chase Any other questions two minutes till market open hit me now or forever hold your peace Know what the question is from the chat. We got 98 people hanging out Everybody's a hundred percent confident and they got no questions at all Awesome, I'll still avisa. I don't actually have I Don't have Bitcoin set up. I probably should But I don't day trade Bitcoin. So I don't look at it on bookman. Good morning Jack Thomas says what software do you use for your volume profile analysis? So it's market profile The company is called window trader Window spelled without a W at the end, but any market profile software is fine You don't have to use this exact you do have to use bookmap that exact software for order flow because of their unique You know algorithms and stuff, but you can use any market profile software and Basically what it is is a combination of volume profile, which is where you see the large volume nodes and And time so what we do is each What you think of like a candlestick is a letter and that represents 30 minutes So it's like they are 30 minute candlesticks and when we see them all smushed on top of each other We can see where the market spent the most time Based on where the most letters are So it's a combination of time and volume Okay, so the market opened we immediately headed up to test that overnight high That is bullish to see and now the question is do we look above and fail the overnight high? Which would lead to chop to that sideways move for the first hour or so like I discussed or do we get support up here? Do we bring in new buyers to head up and test Friday's high? Let's see what happens Okay, so the market is just grinding right here on that overnight high trying to make a decision Break higher or break lower It looks like support to me So that increases the odds in my mind that the market wants to push up and test yesterday's high at 4177 I will know I am wrong if the market pulls back through the opening price at 4166 So now that we've gotten the clear we pushed above the overnight high we came back down We turned it into support. We got another little push not much but a little push So now the question is can they hold that overnight high? Can they continue to hold 4170 as support to work their way up to Friday's high at 77? Can They hold it Okay, market still needs to pull back and test that overnight high here This feels like more short covering than new money buying So we got to give those new buyers a chance to step in good morning Pavel Percy good to see you Tom gun in the house. Good morning and nap is here. Welcome. Welcome So for those of you that are just joining me I Am neutral to bearish on the daytime frame due to the momentum to the downside The thing that would change my mind is if we push above 4177 and we're able to stay up there Getting above Friday's high is Assigned the momentum to the downside is over and Staying above it is a sign that we want to repair that momentum down Using price so that would be bullish Any other scenario than that would be neutral to bearish so looking above Friday's high and failing Would still be bearish because that would mean we need to balance off the excess using time Past 2910 says that's not a bad short later 100% yeah, if you look above Friday's high and Fail so the market pushes up there it comes back down and it can't find support and it starts to pull back into Friday's range This is an excellent short Because you're gonna come crashing right back through Friday's range But you don't want to get into it early You don't want to put a short there right now because they could also poke above find new buyers and keep it on going But we're gonna find out one way or two other in just a moment here So the market just created a weak high because it stopped right One TPO below the previous days high So that increases the odds that we do need to get above yesterday's high above Friday's high Which would be an end of that momentum down And there you have it Boom, okay, so that tells us Again getting confusing here with all these different time frames That tells us that on a day time frame. We are likely going to balance in the days that come So there's two ways to balance Let's zoom back out to the daily chart So you could think about it as excess from here to here Which is the bigger move or you can think about it as excess from here to here, which is the the later breakout making a higher high on the daily today means that That momentum is over to the downside and we either need to go sideways at lower prices and continue lower from there Or we need to pull back up with price to back test that latest move So what happens now at Friday's high will tell the tale Support up here means we're going up to back or to to repair the weakness with price And if we fail and pull back into yesterday's range, then it becomes Balancing with time, okay So you can pretty much call the half back right now at 41 72 That's your deal or no deal level if they're gonna hold yesterday's high and continue higher That they should stay above half back if they come back through half back now They come back through 71 then, you know, it's a look above and fail and we're going sideways, baby for the rest of the day What's it gonna be market? Sebastian good morning to you Peter thank you kindly Okay, I'm not loving we are getting support here at yesterday's high we are getting buyers, but I'm not loving it It's very exact So I have a feeling they just want to poke up and repair that volume point of control at 41 80 And then they're gonna fail and pull back in So bullish, but with caution here, okay, so we have good taper at the high, but we have a weak high So that tells us the market wants to pull back find some support and then take another poke Busta move says weak high because of volume. No weak high because they stopped one TPO away from that volume point of control So anytime you have a reference That's an important target for the market if it stops right in front of it one take away, you know, it's machines It's not real humans shorting right here It's bots that are shorting and the reason they do that is to get you to go short With them you see the market. Oh resistance resistance resistance. Oh, I gotta get short. I gotta get short So then you go short up here, right? Where do you put your stop? You put it right above that high So then the market pulls back a little bit those bots take profits Market comes back. Boop takes out your stop. Okay, there's the repair of the Volume point of control. I would actually say it's still weak one more push One more and then it'll be repaired There it is. All right, so they have now repaired that Volume point of control So that was the first magnet above price that was tugging on the market, right? It was pulling on the market saying hey, come up here. Come test me So now what happens now that that's repaired will tell us bigger picture what's going on So either we hold support here at yesterday's high. It won't be exact So we'll just call it anywhere above 72 anywhere in here Okay, the market finds support and it continues higher. That means we're heading up to the 4205 and 4209 levels above Okay, if we fail if we come back down and pass through there Then we're just going to be going sideways inside yesterday's range for the rest of the day Okay, so it's pretty much going to do one of two things now either this holds and we start to work our way up or We fail and then we come down and go sideways inside yesterday's range and for now it looks like new buyers Which is bullish? So now imagine all these people that have been shorting Now they're starting to freak out They're like, oh no. Oh fuck. Oh shit the momentum to the downside is over and they're starting to panic So that increases the odds we got a pullback with price as we squeeze the sellers from last week Shawshank says comment on the queue, please Let's take a look at the queue. Sorry. I forgot to look at that this morning. Oh man, okay Yeah, so same thing for the NQ They got above that overnight high Found support tested yesterday's high Looks like they just blew right through yesterday's high and built support above it So they opened one push lower came back up above the overnight high Turned it into support got a push above yesterday's high Turned that into support and then they had head up for the next for Thursday's high So that is bullish to see it is a sign the momentum down is over and that we are more likely to repair that Momentum using price rather than time. So you're basically looking to turn This area around 4400 Right here Basically between Friday's high and the overnight high you're looking to turn that into support as long as they can hold 14400 They're going up, baby Same thing as the ES short covering You just get more and more people that we're selling last week that gets squeezed one after another and it just keeps going up Boop boop boop boop Adam says good morning. Are you looking at 85? 25 Pdhi, I assume you mean the previous overnight high Yeah, that's it's not something that's super important to me. So like I said to me now What's happening is as long as we're above yesterday's high We're heading up to repair these weak references up here. Okay, so I don't think we're gonna go in a straight line I think we're gonna have to grind and grind and grind to get up there So one of those areas is absolutely the overnight high, right? We can poke above come back down find support head for the resistance come back down find support head for the next Resistance, I mean we may have to use these levels to recognize where resistance is But bigger picture the momentum is to the upside and what's more important when the momentum is up is the lows, right? What support can it hold? Okay? Speaking of support. I am looking for support here at 44 77 for bounce back up to the high that is a very weak high weak because of the bad taper you can see all the volume is almost exactly the same at the high and The fact that we left an iceberg behind here on book map Tells me that we are likely just pulling back here to find support and come back up and poke away Once again little poke poke Fred says first time here got to say I love your style Well, I love you Fred for saying so appreciate you brother My trick my edge in the market is extreme simplification All I care about is where does the market go and then how much volume trades at that level? How much time is spent at that level? That's it? I? Just think about that all day every day Where's it gonna go? How much time how much volume Michael says? How do you look at volume? All right, so if you look at the Market profile chart right here, okay You've got two different columns that represent volume. This is today's trade Because we're only in the first half an hour the two columns look the same But the column that's in the middle is the current 30 minute time period and the column It's on the left is the full days time period So as we go on throughout the day once we print the B period and see and so on forth That they'll look so on forth So on and so forth Then you know these will be separate from each other and giving different information But right now they're giving the identical information And basically what I'm focused on is the color of the candlestick The dark red is the highest 30% of volume the pink pinkish purple color That is the middle 40% of volume and the white is the lowest 30% of volume So I'm just simply saying when the market pushes to a level does the color change it pushes up above the previous days Hi, it's all white when it pushes up there But if it starts to spend some time and bring in some volume guess what's gonna happen those candlesticks will start turning pink right, that's why I said if we looked at the NQ I Wasn't even trading the NQ. I wasn't even watching it But I knew it pushed above the overnight high built support because I can see that volume there Pushed above yesterday's high built support because I can see that volume there All right, they did it again. They pushed up to the previous days high and now they're building support up there So it's where those colors change and become darker and darker. That's where the volume is stepping in and That tells me what comes next because I know if they're stepping in here or they're stepping in there What comes next? The other volume that I'm looking at is the orange that's over on the left side of the screen That is the cumulative volume. So that's just basically all the volume that's traded over the last couple years and That just helps me to see targets for where the market is likely moving So when it moves away from one large node on the cumulative It is often moving to another large node on the cumulative. That's more of a swing trading thing Then day trading for day trading really it's the volume around the previous days range That is, you know, or the last few days range that that matters. All right, well, they repaired that that bad taper on the high So it looks like they do need a stronger pullback here to give the buyers a chance Once again looking for support and yesterday's high 4177 Pass says what do you assume you're saying? What do you think of edging position in the opposite direction? So I think what you're saying is what about the idea of going short right now? Assuming that yesterday's high Friday's high won't hold as support Assuming we're gonna break back into yesterday's range. There's nothing wrong with that as a trading strategy If that's the way you like to trade I fully encourage it Here's the trick though to be that kind of innovator right to be the one who's buying the high of the day Before the market tells you that it's going to reverse. I'm sorry selling the high of the day It's a very very okay, so here we go testing 77 for support here It's very very rare The amount of people in any society who are innovators like that who have the ability to recognize a change before it happens It's generally less than 3% of the population so If you are an innovator as a trader it is an enormous edge I mean you can make so much money as a trader if you can do that but Just talking. I don't know you I've never met you. I don't know you but talking purely based on statistics It's less than 3% of the population that can do that So for most of the people that are watching this stream statistically speaking a majority of you will never be innovators You don't have the mindset the personality. It's just not you What you want to be is an early adopter, so you don't want to be trying to short the high When you're guessing whether or not it's going to reverse you want to be selling once you've gotten confirmation So you're not going to be the very first set of sellers getting in But you can be the second set of sellers getting in and then you can take profits on the third or fourth set That are getting in all the way down here and that move from there to there is a much higher probability Significantly easier than trying to catch the move from here to here Which you would have to just guess and who knows if you're right or wrong? So I am not an innovator. I Always have to let the market make a change first then I react to the change So I'm a little bit late to every trade, but I can stay in the trades with confidence because I'm right Does that make sense? Adam says does in overnight inventory being totally long influence your thought process at all Or does the large gap counterbalance that? So there was no gap If you're talking about a gap from the close of the previous day, I don't look at the market that way But to answer your question, I do absolutely look at the overnight inventory. It's a very very important thing So for example this morning as you said the overnight inventory was net long Right for them to move from where we closed on Friday all the way up to where we opened this morning It had to be more long traders than short So a majority of these participants were long at the market open this morning, okay? So what what should I take away from that information? Well first I should think the higher probabilities that the market's gonna go down because they're gonna take profits and the market's gonna come down So when that does not happen Guess what that tells me that the opposite is true. Oh liquidation Okay, so this has just become a look above and fail of Friday's high Increasing the odds that we're gonna go sideways inside yesterday's range If they turn the overnight high into support right now, they can head back up and try again But this is the market telling us they don't have the buyers at least not right now And we got to spend some time going sideways But to bring in those buyers But anyway back to the overnight inventory conversation So if I know at the open that the overnight inventory is net long and The more likely probability is that we're gonna pull back and then we don't Right, we then push up above that overnight high. What am I thinking? Well, no one in here has to take profits, right? There's no reason for any of these long traders to get out if the market opens regular trading hours And it just pushes right above their high Every single one of them is in the profits from five minutes into the day So of course that means they're probably gonna head up and test that overnight high or I'm sorry the previous days Hi, why because where are all these traders who are going long in here? All these traders that are going long. Where are they putting their their profits? Well, they didn't put them at the overnight high. We know that so where are they? Well, probably the previous days high previous overnight high previous resistance You know up here. These are where these traders are going to take profits okay, so as long as We push above the overnight high and stay above it. I should assume they're still strong momentum But here's where it gets fun. What happens if we pull back down into that overnight range right now? I mean like literally right now at 41 70 Well, then any of these traders who got long in here in the overnight over the weekend Any of them are going to start to get squeezed. That's what this was right here That first little pop we just got was that first set of them giving up So they just took profits They don't think it's going to keep going higher So now regular trading hours either steps in and keeps it going Or we're going to liquidate our way down back into that overnight range, which is to me the higher probability So long and short of it. I now expect we're going sideways inside yesterday's range And probably going to go sideways for a couple days here Um and balance off the excess to the downside So with that I will say farewell Goodbye. Thank you all so very much for joining me. We got 141 people hanging out Rock on gnarly, but only 50 of you liked the video. I bet you there's more than 50 that think this video is dope Smash that thumbs up button If you're a member of the brigade If you're a member of my community where we get together every morning to talk about the markets for the first hour just like this Head on over to the private stream and I will see you there if you're not a member of the brigade What the heck are you waiting for? Sign up. It's only 10 bucks. What do you got to lose? It's a cup of coffee And If not head on over to bruce's stream and we'll see y'all here on monday morning. Thank you very much Have a great rest of your day. Like I said, I now think we're going to go sideways inside yesterday's range Cheers