 Good morning traders and welcome to the book map all markets webinar. This is Bruce at book map Good morning traders. We will go through the order for in the live market And any any markets that you guys want to take a look at typically we start with the S&P e-mini and get a broad Overall outlook on what's happening within the markets. You can look at crypto We can look at stocks. We can look at other futures markets as well All right general disclosure all book map limited materials information and presentations are for educational purposes only and should not be considered specific investment advice nor Recommendations risk disclosure trading futures equities and digital currencies involves substantial risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results. All right, so let's see here Good morning everybody. Can you see and hear my see my screen and hear me over in discord? I think it's all good and Yep working over here in YouTube. Good morning everybody Morning Rob, okay Good morning CMJ Okay All right, we are good to go. All right, so well, yeah markets are kind of all over the place here this morning we had some The PPI data earlier You can see the reaction to that immediately very strong move and beautiful pattern in here move back up above into the kind of current or I'm sorry this other kind of You know point of control basically in here or just most traded level within and this is really important How to define some of these things as you read about, you know point of control in books. Oh, yeah You know, that's the you know look for high volume knows low volume knows why though All right. Why this is a Previous value area Something happened here and traders pushed it away from that area The data came out the data was it's that's a little more complex in the reading of that It was bad data, but that means actually good for the Markets in this sense So we got to move back up into this previous range if we take this range here and Take it right across We came right up into the middle of it now What's the highest or most traded level in there that would consider be considered value? And that's very easy to see with the the high volume nodes in here Or point of control in this case So it's right there and that's right where we came to now a lot of traders are reacting to that They're trading volume profile or market profile And that's the value. They're looking for they're looking for a test back to that area You can see the pullback here likely some profit taking or and or Shorts starting to reload And then you can see that this turned into a quite quite a nice flag pattern In here which again the pattern just means There's a strong move There's a pullback and has followed up by another strong move now This one's extremely strong in here and look exactly where it went High liquidity on the offer up here around 33. It went a little higher than that And then look at the sellers come right back in and where where did we come back to? Hey, I mean looking for an answer from you guys Come on. I know you guys know this You just covered it my volume node back into value exactly now What we're talking about here is the structure market structure and Instead of like reading about these things and understanding them on the hot in much higher level About oh, it's a high volume node. You know price is gonna go there It's going there because of the order flow and the transactions That's the key to understand this and look through this in a different lens That's exactly where it went back to Okay, now, there's a lot of people that are reading books and and and following gurus on YouTube or whatever And they're told to do that and they just follow it and if it makes some money, they just follow it Okay, great. Well, that's that's fine so that's kind of like Like the sane art for art's sake You know, you're not really maybe understanding the What's behind it all but you're just kind of understanding the higher level and just reacting to that Okay, but in here what it means is that there's a lot of traders in here We have a move away from that We have a move back into it and then they explore the outside of that as well and test up into high liquidity in here Not enough buyers after that you get a move back down to retest this area here And you can see that we're finding buyers right now Okay, once you start to understand some of these structural elements Not just the definitions of them But what's behind them in the order flow? In the transactions that's gonna make a big difference Okay, and then it's just it opens up everything Everything's a fair game at that point. You can derive any kind of trading strategy from these things on your own very easily by understanding these These concepts in here more art less gurus. I Like it. I like it slow down my comment on that was like a You know, look look I have I you know, I have a background and went to art school You study art history If I didn't take the art history classes, I wouldn't be able to know what some of the things are In the museums, but I know because I studied it and You know, I know that the details in the in the background and I'm not no, you know a great shakes at it But I go to the museum with friends and they they don't understand they don't have that kind of context But and they don't care. It's like well, how does it relate to me? How's it relate to my life? So Anyway Getting a deeper understanding of the order flow here the the the true elements here if we We talked about this before in the past the first principles A Market structure is made up of the order flow and the transactions. That's it This whole market is made up of orders and participants in the auction. That's it Those are the first principles. This is just higher time frame structure based on the first principles And that's it So we can come in here and zoom in and look at some of these elements in here Hey, where's our high volume? No, we're right at it right now in this small range Hey, there's a lot of volume up here though that transacted on the on the bid side Or on the buy side and they traded right into high liquidity Not enough buyers to trade through it sellers take it back down now Get a little bit of let's just take a little bit of a look here Sellers coming back in and a little bit of back and forth in here But let's see now if we can get buyers back up here I would look for them to come right back up here to 425 and retest it Okay, just because there were transactions up here before Now we know also we get more detail in here. This was a stop run up here Okay, but let's just take this across and look at it Okay, and understand that well it auctioned up here and we found a bunch of buyers and then sellers pushed it away really quickly Hey, do buyers want to come back and revisit this area in here? Is it still does it have value? And we're kind of getting our answer here. Yeah, they started to go after it but only up to this previous swing here and Where these sellers came in and moved it away And that's what we know in here So now Look at how attractive or attracted price is to this area in here. It's just bashing back and forth All right, see how this can open up all sorts of strategies for you It's like well if that is the case then you know If I don't see a lot of buyers like I see some exhaustion in here Great looking for a little bit of selling to come in move it back down to the bottom of the range take some off And then anticipate now it may continue and it may continue down to here Okay, but at least down to the bottom of the range because this isn't Price is attracted to this area Okay, now we're getting an extended move away from this area now Okay, and let's see is it on high volume. Yeah, it's not bad Right now so now if we don't find sellers and we find a lot on the bid and we find buyers Like right up here. Let's say at 21 If we get buyers up here, I would look for them to retest not not only back to The bottom of the range in here where it broke down from Okay, but maybe even to the middle of the range about high volume node or maybe even to the other side of the range in here Okay, now we didn't get that in here We got very little buying and sellers came in again So we're getting this kind of extended move and we have now sellers moving it away from areas Hey, so now they've even they've tested here. There was high liquidity in here and we went lower down into here All right, so again what I'm trying to get to get at here in this is starting to understand The market structure, but it's really based upon the orders in the auction and the in the transactions what traders They define the value Shark blue. Good morning. Can you point to another area of exhaustion again, please? Yeah exhaustion is a Pretty easy thing to see in here. It's a lack of trading. Hey shark blue you will find this probably infinitely Important for the way that you trade I've seen you around value areas trading and etc. In fact, I had some comments on that We just didn't Cover you yesterday in the bookmap Academy meeting So here we have this move to the downside and look at the sellers in here and Then look at the buyers here And now we had some exhaustion here as well on a retest by By the sellers, right there it retested here and there was none That's why we found a few buyers in here to lift it back up Just not finding enough look at the relative volume of this in here Compared to the sellers in here all the way through Now if we got a big volume dot like this over here It would be more likely that it would come back up and retest here and then maybe curl back down Hey, now what we got instead was basically it's it's not truly exhaustion. There was some transactions up here I So there was some interest to buy just not enough They overpowered by some of the selling in here and then this is an interesting one We've seen this one again and again and watch for it really look for it Buyers here, but they're failing to even lift it back up to this little previous area here Look for the sellers to come in Hey and move it away because the sellers have moved it We're finding buyers that can't even lift it back up to just it's just a couple of ticks in the S&P here But they can't do it There's not enough interest And I would even say likely an iceberg, but I don't I don't see one there And and then the sellers come in and move it. Hey at that point, right? So these are the things to look at especially like a these strong moves and then the pullback a exhaustion or lack of Interests and then more selling again Target the high liquidity bottom of the range first and then maybe continuation All right Hope that answers your question. Let's see here Other questions. Oh, what's the question? Okay, so the question was Can I point to areas of exhaustion? And so exhaustion is just the lack of transactions at a level or More precisely at some of these areas in here where it's most helpful is in the range. Here's another one right here There's another one right here Hey, so this is trending down. These these little areas for pullbacks are just beautiful in a trend Okay. Wow that turned into a really big move here or a nice move here Um, so that was about a 10-point move down down here Okay, now let's take a look here. Hey, are we low enough to find buying interest? And if so, well, let's take a look. We're gonna find them. We are finding some Hey, and they were able to lift it to the sellers up here in the auction And now do we get enough buyers in here right now to break it? Looks like it. What about the book? Are they bidding up? Yeah, they are They are a little bit in here. Okay, so let's see if we get a we we can see we hit this liquidity and and fade it off of that And let's see. Do we get enough buyers to come back up here? And then break out from that area. No, nothing yet In fact sellers are gonna take it right back down to probably this liquidity or maybe even bottom of the range here Hey, see how you can read that we're looking for this scenario and if this scenario doesn't unfold We're looking for the sellers. Okay. Now here come the buyers back now looks look. Let's look at the relative volume What about this volume compared to this volume in here? Hey, well, there's more sellers in here, but it's mostly here It's in this little area. We're getting very specific. So If that is the case then we can go through a scenario What if we get buyers back up above that level here strong buying right up here? Then we would look for a retest probably back to this swing and maybe even a breakout of that area Okay, now that scenario is not unfolding It sellers are still just coming in and hitting the bid. Okay, so look we're looking for that continuation move down into here and then Here at well 13 and then 12 Okay, now let's take a look at this in here and I'm going to cover this and I want to go over some trading activity earlier in the day Okay, so look at these moves in here. Okay. We're looking at kind of relative moves in here Okay, this is like ATR basically Hey, so we're talking about these relative moves in here Hey, now did we complete that that move? Yeah. Yeah, we did definitely So I would start to look for pullbacks maybe in these areas here I'm not saying that we're gonna get buyers in here and come all the way back up or reversal just looking for pullbacks Hey, what's an average pullback in here? Maybe something like this, right? So we're just starting getting a feel for Like, you know what to expect Okay, now we didn't get that that would have been a good, you know, little pullback back up to here We didn't get it We got about half of that and sellers come in and hit the bid hard. Okay, so now we're down at 10 again All right, so you can integrate some of these ideas within your trading plan by understanding the Market structure and some of these moves in here. So this move actually even drew it up here and See if it kind of matches in here. Yeah. Okay. So now we have a move down into here and that seems to be kind of At least in this time frame kind of normal. So what are we expecting pullback? Okay, now this is a counter-trend trade, but I you know We're just looking we're looking for that and we'd be looking for maybe back up to about here 13 or so Okay, maybe 14 right In the market and and why do these why are we looking for that? Well, there's just so much market selling Before we get a break and then market selling and then we get kind of a break Okay, that's the concept in here So we're going to find buyers and they're going to they're going to try to bring it back into Previous transactions in here Okay, so uh, that's it, you know And uh, what about the order flow at some of these areas? Well, they're on the bid in here Did they trade through it? They trade it into it. Did they trade through it? No, are we getting buyers coming in? Yeah, now what about the condition of these buyers in here? It's not bad Actually, it is kind of bad. The sellers are definitely dominating in here Uh, and this is very low volume compared. So Therefore, I'm just looking for a move back to this 13 Okay, now maybe maybe the scenario unfolds in here and we get some really strong buying up here Okay, then we'd look for another move probably back up to about 16 then Okay Now the other scenario is we look for the seller's exhaustion here sellers coming in And then maybe we can get a continuation move to the downside All right, so this is how we can start to look at structure And also trends in here, uh with looking at exhaustion Uh, and uh, and the and the sellers, uh, whoever is in control So now look at the back and forth in here and look at our buyers now Okay. All right buyers, then let's see if you can you should be able to move it back up to about this Uh, I like the swing here. Well, we're basically there, but uh, maybe you can come up a little bit higher Uh, and uh, let's take a look And now we've kind of done the move Okay, so and now how how strong are these buyers in here compared to these sellers in here? They're not just not bad. Maybe we'll get a little bit of move back and forth This is where it becomes a little more Or a little less clear Okay, it can go either way now Okay, we're saying we've seen some buyers, but not really a lot Uh, and um, but it's not bad And maybe the sellers are finished now Hey, do we see sellers coming in here now? No, not really Hey, so yeah, we're we're not going sell side in here yet Hey, in in fact, that would have been a counter trend trade, but we had Good reason for looking for that counter trend trade in here And now we don't know, uh, there's going to be some back and forth in here And this is going to be kind of uh, what uh, Wycoff, uh talks about in in terms of your, um accumulation and distribution Okay, so there's going to be some back and forth in here now All right, so, uh, anyway, I hope you Understand some of these concepts or make makes clarity or sense to you Uh, because once we start to understand these things, uh, it really does open up the whole market here in terms of structure Understanding and this works on all time frames Okay, uh to micro structural levels in here to uh more macro bigger picture, uh levels as well all right, so let's uh Do you guys want to go through some I have a few trade examples and I can kind of, um, go through some of this, um Some of the decision making of the trading within these areas as well Would you like to see some of that? If not, that's that's okay Okay All right, Stephen. Yeah, sounds good The red high liquidity areas can act as support and resistance. Yeah, absolutely. They can Um, just a a clearer definition of of what it is. It truly is supply and demand Okay, so And they can be support and resistance. Um, uh, clearly Uh, it's just, uh, you know support and resistance is you draw your lines of like price action basically But now we know Due to the heat map in here. There is supply up here. There is no question about that There is supply up here at 18 and also at this kind of 20 and a half level up here Okay, and there is demand down here. Okay, where's the resistance? Um, well resistance would probably be up here Right around 19 at the swing And that that would be the distinction between the two All right Okay, Ida, so let's go through a couple of we're gonna kind of veer away from the price action at the moment And we'll come back to it Any any kind of insights on the bigger picture in here? I mean This changed everything in here the fundamental news Changed everything here at 8 30 And so this would be for those that are still bullish. This is a buy down in this area here Hey, also, this is a buy down here as well So at o2 or even maybe the figure just kind of dip below it and See if if there is an exhaustion down here a bigger time frame Look for the buyers to come back in and move back up And they would probably move it back up into the value area that we have kind of Drawn here in our rectangle Okay, guys. All right. So yeah now you can see our bounce off of here And we have come up to that 16 level All right, so in here, we had they we had some selling actually And it looked like they were going to take it down And then the buyers did come in here and move it back up All right, so yeah to kind of you know accumulation distribution type of area and a little back and forth in here at the moment All right, so we'll come back and take a look here I Don't really have kind of a bigger picture Idea yet We can also look at some diagonal lines in here And we're just seeing it kind of bash around that as well So not Nothing really clear right now kind of in the middle of these support and resistance areas or I'm supplying demand areas as well They don't really see too much favor in the book Uh, they are bidding up a little higher in here. It's not a lot right now All right, so let's go through a few trade examples and how you can kind of maybe consider Some of these reeds in here also with some trade action Okay, now this is in sim and just want to um Give you guys some practical use case scenarios uh through the trading Okay, and then I I would uh You know recommend that you look into some of these ideas in here Once you start to understand exactly what you're looking for and that's your trading plan All right, so uh, let's see it was uh 6 30 my time here right. Oh, I'm sorry 6 15 my time Here we so we had nice move down pull back nice move down Okay, and I had done a measured move of this move down uh into into here and uh I was looking for The buyers to come back in and and just this was a counter trend trade Okay, now I don't like counter trend trades. Uh, they're they're very easy to take Uh and but they're very hard to get A nice counter trend trade Because you know the market is has shown a direction Uh, and uh, you're fighting it basically okay, so If you're taking counter trend trades make sure you have some confluences in here Whatever they might be uh in this case. It was kind of a a a bigger measured move high liquidity here Uh, and then I also saw buyers coming in here Okay, now they had not cleared this area in here Uh and and even gone above the swing. So this would have been probably a better Area in here for that reason Right now. I actually just took profit up here a little bit. Um It was a very quick trade and I'm I'm not going to go into um Uh scaling in and out. This is kind of all in all out Uh Actually, this is this example. I did have a scale example down here because uh, I took a shot at it And immediately I did I did place uh one more here. So this was half a position Okay, so I don't want to talk too much about scaling because they uh, let's just talk about um All in all out looking for something high probability Uh, and then just get good at that and then we can work on scaling Right, so it's more advanced and can be very confusing along the way So, uh, here here we have the move down a seller still in control Uh, but uh, you know, I'm starting to now. Why did I want to buy here? I'll I'll tell you why I saw buyers in here. I also saw some buyers in here Uh and a bit of buying in here. Here's beautiful. Stephen Exhaustion up in this area. So sellers still in control, but I know there's some buying interest So I'm looking for a move back to the bottom of this range or maybe back into this value area Or most traded level in here. So somewhere around here, maybe 10 Or 11 10 10 looks pretty good in here, right? right back to here, uh and um Which actually shows pretty good if there's exhaustion here at that that value level There's no interest in in transacting here. Look for those sellers to push it one more time minimum donkey face welcome, um All right covered covered, uh Some of your material in the uh, you're uh journaling in the book map academy meeting yesterday all right, so anyway, uh a buy here, okay due to some of the buying that I saw previously and a measure move and liquidity Uh as well as this big buy dot here Okay, half a position still looking for it to maybe push lower and then what happened in here was, uh Well, I got my move back up here the mark it kind of popped very very quickly back to the bottom of this range in here If the market's going to give me that I'm going to take it Uh and not not try to fight it here. Uh, there's my pop. That's the move I'm looking for I moved this down immediately and got filled in here and I'm out. That's it. Okay, so just just Uh, you know, now this is kind of a a riskier countertrend trade But I had I had some reasoning behind it And then then I'm out right now I took another one here going with the trend uh, and uh I had my trend lines in here at that point. I had drawn up these two bigger trend lines Uh, and uh, you know, I was looking for a move it could come down to the bottom of the trend line in here But I wasn't quite sure yet. Let me go through the decisions in here So I know there's some buying So I'm not sure if we're going to come back up to maybe, you know, another uh area in here And uh, I saw some buying coming in here. I saw some exhaustion here And then I saw some selling coming in When I saw that that's what I'm looking for them to to carry it lower And I'm just hitting singles here now Okay, so uh, I see this this um, uh, this line here. Let me duplicate it All right, so this line here was derived from this move here Okay, and then I placed it here Now, why did I do this? My thinking was that uh, here was a countertrend trade uh, so Maybe maybe uh, uh, we get a counter kind of um, if we're getting buyers in here We might get a move back up into the range in here Hey, so maybe the sellers don't really massively take control in here So I'm just looking for a minimum of a move and that would be something around this this range in here Hey, so it's uh, what oh seven on up to about uh Uh 10 three three points or so something like that Okay, that's what I'm looking for just three points I'm looking for getting in having it carry down to it and then getting out All right, just hitting that single Uh and building confidence And what is the minimum move I'm looking for? Just that Uh, and I had my reasons for it I'm maybe I get kind of a countertrend trade in here or a lack of selling And then buyers really come in and they we get the bigger move the opposite direction So I'm just looking for that move and then I'm out Now I move my stop down to break break even, um after A bit here you can see it in here um Right right in here and then uh, I got filled here Okay, so I I also moved my uh previously I moved my uh Stop up now you can take a look in here and what I've got Um As my bracketed orders in here. Okay, I put my my take profit at 20. Uh my stop loss at 10 All right, so two to one and I just get in and then I'll move them uh around and manage them actively All right, so just so you you guys know That uh, uh, these are kind of random, uh when they're placed, uh, and then I move them Uh, can I show an example of spoofing? Sure if we can find a good example. I'll look for it All right, so anyway, this turned out to be a really big move to the downside And I didn't know that you know, I see high liquidity in here Uh, I have my trend channel will look how it broke that Uh and came all the way back down here Okay, but I'm fine with that Like this is all I'm looking for hit the single uh and then come back and reevaluate this later And then like would I made would I have made a different decision? um If I knew this uh You know in hindsight Right now one of the things that we can um You'll you'll see this in in the auction process in here. This is a big move on big moves like that and it Sometimes out of the blue you you don't quite know Understand these bigger moves. You can see a big retest Right back to those areas in here Okay, so, you know, this seems kind of like random all of a sudden we'll look for you know, a move back into it as well Uh, I know that can be frustrating a lot of times Uh and trying to understand the what the market's just doing whatever it wants Well, there's some reasons that it retested back to here Okay, this is where that selling came in. It's a massive stop run in here Uh and the buyers come back and retest right back to this area here Okay, and it is the bottom of this trend channel in here Right, so you can even look for those kinds of things look for uh trading it back to those levels in here Just some concepts to consider look how this trend line still held right so Traders are making decisions off of these areas in here And it it's still this is just kind of out of the norm, but it came right back into the norm here Right now. I took a couple more trades in here as well Can I just two more and then we'll we'll we'll come back into the live action All right, so now these are small scalps and uh and I just want to go over very easy Quick examples in here all in all out for today and and just Build confidence All right, so uh here now. I know there's a strong move here I know this kind of equal uh to the strong move over here There's actually more selling than there is buying look at the bars and look at the dots in here Okay, so a lot of buying in here, but that's the majority of it These up in here. It's a little less than all of the selling coming in here. All right So sellers still in control. We come back up test the top of this level in here Uh, we see the sellers coming again. I get another pull back in here and do I see buyers in here? No So i'm looking at sellers in here I'm looking again for selling to curl in here Hey, here's our exhaustion Here's a little bit of selling coming in Uh, and then I'm looking to take it back down just to the bottom of the range here. That's it Right, I'm not looking for a bigger move here Uh, the concept you can look for these bigger moves. Uh, you just have to widen your stops Uh, and uh and your targets All right, so uh here we get the move back down to Uh, almost the bottom of the range. Okay, it came like a tick away from me Uh, and um Yeah, well basically two ticks away from me Now that may not seem like much, but it is a lot actually because not only does it have to go two ticks It basically has to go three or four ticks For my limit order to get filled here It needs to trade into it and through it basically Keep that in mind when you're using your your your take profits This is one of the reasons why I like to front run some of that high liquidity in the order book in here Okay, because then I don't have to wait for these guys 121 contracts in front of me Okay, I'm in front of them. I cut the line basically and that's a lot of liquidity So, uh, I cut the line and then what did I do immediately when I it didn't hit my um My take profit down here as soon as I saw that Now, you know, I was in front of the screen here so I could actively manage this I moved it down to break even Then I got stopped out at break even so that's a scratch trade Right. So there's your scratch. Uh, and then what did I see here again? Right. So, uh, buyers back up here It it fails above this range comes back in I see sellers in again I'm looking for them to take it down Now, I don't have the order book on my side here. Uh, really, uh, this is pre-market and maybe it's a a bit different um and I get in here, uh Goes against me. Uh, I see the exhaustion exhaustion in here looking again for sellers. Don't really see them until we get back down to here uh, and now here My profit taking decisions Uh, was the bottom of the swing And that's it. Hey hit the single And it went it went through it here because I I know now that there's some buying starting to come in Uh in some of these areas in here and you know starting to kind of make me a little nervous in here Uh, maybe I'm not I can see the buying in here and in here and I got short here Right. I'm still looking for sellers in control in these areas here, but I'm seeing the buying coming in Okay, so I'm going to take some off at the bottom of the range For that reason All right, I moved it up pretty quickly here as I saw the selling coming in Uh, and then took my profit now went through it Uh, and then it came right back up and and this is kind of slop in here I mean, it's it's kind of all over the place, right? So I'm just looking for the bottom of the range and I'm out Hey hit the single. I don't know what's going to happen after that All right, and you can see uh, it's kind of hard to just determine what happens after that It's all over the place in here All right, I hope this makes sense Uh, and what you're look what we're looking for in order flow Uh, and also in this case, it's more of a kind of a trend. Well, this was a countertrend trade here The rest were with the trend All right So Some some considerations here in here. They're not trade recommendations. We're not trying to Tell you any specific way to trade These are just some ideas and this was my approach to the markets today Right. That was it. That's all I have for you in terms of uh Yeah, a trading activity Okay, but just hit a few singles. I'm out Uh, and then move forward. All right Uh, so, uh, what did we miss in here today? Since we were away from that order flow activity Not not much You can see that we got our countertrend move back up here looking to see if it might turn into a trend It didn't Okay, and this is kind of interesting little area in here Here's our kind of pivot area here. See where these buyers came in See where the sellers came in it's bouncing off of it sellers came in here A bit lower Okay, so in fact, there's more sellers again here. I'm looking for the sellers. So now move it to the bottom of the range here at 10 Okay, so it's a little a little late there But you know getting in maybe somewhere here or here here is actually I think safer Taking some off at 10 There it is and then looking for maybe continuation now Why continuation now? Because I see the sellers have taken control right Let me let me cover it again The buying in here and in here and here is kind of shifting over and it shifted It's basically at this line right here Okay, trying to be a little more precise with the line Okay, and there we go. Nice nice move to the downside Okay, so now Now I would have liked to have scaled if it's all in all out. I'm taking my profit down here at 10 And then look for the next one All right Good morning jack. We missed you yesterday Let's see at the book map academy meeting. Um, anyway, uh, good to have you back. Uh, we'll um Now see look at how the buyers come right back here all right, so we're uh Just taking the high probability outcome And then looking for the next hitting that single building confidence And we don't know this is going to happen here. Hey sellers are still in control right so, uh We can even look for another, uh, possible pullback in here to get back in And now Do we have something in here? Hmm not really. I mean the the buying's kind of climbing in here And and take a look at this in here now with a selling move started here. Okay, so we're back up to here now Right, uh, and I would anticipate some selling to come back in here Uh, but what I want to show is this here. Where did all that selling? Where was the majority of that selling is down here? And buyers are back up above it. Okay, so they're selling in here But how does this uh selling in here relate to this buying in here is the question this this part in here? We can uh, uh take away from the equation Because we're already above it and that's heavy selling, but we're above it Okay, now we can look for pullbacks to this area here at at uh at 10 Okay, I just not really seeing much in here right now. We we would anticipate the the Um sellers maybe to come back in Um, but we don't have too much. The buying was pretty good here Uh, the um the order book is uh irrelevant at this point. We're not really seeing much except for maybe some of this liquidity here And we're looking for that skew in the offer and the bid uh to give us some more information In fact guys, let's let me show you like it really is the context between the volume price structure and the order book But we've done this um many times in the past Uh, we're going to take off the volume dots Okay, uh, and uh, we're just going to look at price action With bespin offer streaming In the order book Okay, and we'll we'll do the same thing. Where do we think price is going to go? Well, look at the look at the book in here see how it's starting to come in What's the reaction some sellers? Okay, they just tested this area in here and we so we know we we found some interest Uh to take it back up here And so they did take it back up here All right, so let's take a look again And we're looking for a skew in that book their offers are up here the bids are down here Not getting much out of the book to be honest. It's not maybe a good time for this example Or exercise, but there's a little bit here on the um, uh on the offer. There we go Okay, so more on the offer now. Let's see. Do these guys pull? I'm looking for the sellers to trade into 13 or maybe 12 Okay, just based off the skew here So now see how that changed Okay, now 14 there's some interest now they pulled this will get we'll get to that spoofing question uh earlier Okay, this is a potential spoof. Uh, they're kind of testing the market. I I think Uh and seeing like how much demand uh is there by the aggressors Okay, so here we can see now we're getting our answer in here that and they they come in on the offer and here And now they're pushing it. Okay, see how they can make we can see how I think I personally think there's no kind of You know, there's some manipulation in voodoo out there for sure. Um, However, I think a lot of the traders are just testing the market Uh and putting their orders in what's the reaction? What do we get? How do people react to things and then they make a decision? Okay, so for example, I think we just saw that in here All right, let's go through it Okay, so we saw uh this Earlier we saw this coming in. All right, we're looking for 13 maybe 12 This disrupted it at 14 And then they pulled so they just kind of tested it in here and then Yeah, we see that Not getting too much out of it at the moment Okay, we just know that they tested and they pulled Okay We didn't get a whole lot of buying out of that Okay, now we're seeing that the market moved back down and look at this liquidity coming down Especially in here and let me let me make this a little bit easier Uh with the the the cutoff values in here. Okay, we'll lower them a little bit Okay, and start you can start to see a little bit better in here Right look at it pick up in here Okay, and we and look at this especially in here and what's the reaction? Right, so here after testing this this test in here We see the liquidity come in here looking for the move lower Make sense All right, we'll do it again. Hey liquidity on the offer coming down Okay, here's a test in here. Well the seller's still in control now They just tested in this liquidity here at 07. Here's a little bit more How does it how does the market react to it? Okay, it's testing it testing it Looks like sellers are going to trade into it and through it See no no they come back in and and we see a reaction here. All right So we get a reaction now. I'm looking for the the the buyers now to trade back up to 10 Okay, because the reaction to this liquidity in here Was we started to see buyers now they pulled in here Originally, that's why I was looking for the move lower now. They started to come back in here and we're finding buyers Okay, so we didn't get we didn't get up to 10 we got up to about nine in a nine and a quarter And well, maybe we need to get a little more confirmation in here then Okay, they're still on the offer. They're adding in here on the offer Hey, the skew is to the downside Hey, they're pulling on the bid Hey, we're really between two areas of high liquidity here We're looking at the kind of details in the order book in here Good morning. Uh, Uri Uri nice to see you in here Now see see how we're just right in the middle between the two here that's why we're looking for someone to test it and then we'll see the reaction and and Where the market might go next? Hey, we're not looking at transactions Right now. They were getting a value out of the Okay, I got a see I'm in an alpha version right now 7.5 guys. So This is in testing phase I'll just let you know Okay, well we can see the this was there's a little bit of a skew in here but It traded into this area in here and Here we go. Okay, trade it into it here And I'm looking actually to get a reaction off of this and buyers to trade it back to here actually Uh to about 07 Just just this was the retest that we got it was only to 06 and a half here Okay, but after that liquidity transacts A bit of a bounce and a move back up into the liquidity on the offer Okay, so here's a here's a test by buyers in here Okay Still testing on the bid here. I'm not getting too much out of it as you'll especially note this kind of testing Uh of of high liquidity in these areas in here Uh at key levels. Uh, it can be pretty fast and furious All right, so now I think we're down at a key level in here because look at this in here See see this high liquidity in here, but then on the offer here. Well, maybe one more push down into 02 But this is you'll note this at these key levels this right in here If the these sellers in here are taken on by the buyers They we're looking for a bit more buying a back above it here. It means the buyers are starting to take control And we will not trade back down to that high liquidity in here Okay, that's why we look for Uh to see this reaction in here does it transact and you know see see now look out there on the bid now at a higher level in here Do we get do we get buyers or sellers hitting into it? Looks like we did Okay, but look at the buying interest here Now we're back up above now see how buyers will take control here and they'll move it back up to 05 and a half Let's see a little more action on the bid here still need to see a bit more on the on the bid there it is in here All right, then let's see we should get some buyers up here at 04 And then the move up into 05 and a half or so this swing looks looks pretty good And now that would be a countertrend move too Maybe we're just looking at the appetite We're trying to assume the the aggressors in here, but by looking at the order book uh influence here that that uh It only has influence unless it transacts. It only has influence And that's why a lot of people say well the spoofing or the orders are meaningless. They are not they are an integral part of the market Okay, here's a retest back down here Uh now we're getting our buyers and here's our move that we're looking for over here Okay, or over in here now it's now it's happening Okay, just by understanding putting the pieces together in here Right, and that's it just up to the top of the level now. I don't know how much is in here, but it's a pretty strong move Uh, you know, we can look at maybe a potential flag pattern or Strong move a little bit of a rest in a strong move up into this 08 and three quarters area here Okay, so now for you dome readers you you guys do this all day long Uh, you know, you're reading the dome. You're looking at uh, here's a skew in the book You know what what happens in here? Uh, do we start to see a lot of transactions in here? Very very quickly. Okay, so see them then trade into it now Okay, so now looking for maybe a skew in the book again on the offer. Do we see that? If we do Do we see the the price move back down into some of these lower levels in here? Maybe down to 04 again So you're reading the order flow Okay, and how important it is to understand the order flow in here It's just buyers and sellers Okay, and reading this And so we came down to 04 and a half or or full four and a quarter Uh, and that's been it so far the liquidity is a little bit lower though Okay, the question is do we find interest in that here's here's a a trader in here testing it Yeah, we're we're finding that uh sellers are coming in Ah now now that now we're getting the uh, they move back up on the on the buy side here Okay, we're down below it again. So yeah, I'd still look for this 04 to transact I'm not getting it They're pulling up here All right. So anyway, uh, we're just using here We have the cov column or the depth of market and reading the uh, you know, just like a regular dome But what we're doing is instead in book map. We're using the heat map And then getting that information in the heat map We do have the dome. We can open it up Dome pro great product And let me show you this If for those of you who like to read the dome, but we've got all sorts of columns in here volume columns volume delta columns Volume profile on the sell side on the buy side. Here's the delta Here's your uh session volume profile, etc And so nice move here actually to the upside And and these little darker areas in here. Wow, we got some volatility in here Um, these little darker areas in here actually relate to uh, it's kind of a a bit of a cheat Um that we we can highlight the high liquidity in these levels in here kind of like the heat map So it's kind of like a real-time heat map in here And look at so we see a skew here on the uh on the offer All right, so all we need to do for is now look for them to start hitting the bid here hard Okay, here's this is the uh recent bid so looking for numbers here to start to mount Starting to get it. All right looking for the sellers to I'm sorry. These are on the bid here. All right. We're looking for sellers to uh to take this lower now I'm sorry. These are the sellers. Yeah, this always confused me. So it's recent bid trades. These are aggressive sellers in here All right, so it's just the language in here. These are the aggressive buyers in here All right, so and we also have the last trade quantity here Okay, watching these so they're hitting the bid hitting the bid Okay, we have the skew here in the auction Uh hitting the bid looking for sellers to take it back down to maybe uh o4 and o4 we have our reasons right? Right same thing in here In fact, let's uh, let's let's bring it both over And they're still on the offer still on the offer. So it looks like buyers are fighting it though that you know Uh, I'm just seeing more sellers here though more and more sellers. So I'm still looking for sellers to take it down Okay, based on these recent transactions hitting the bid Okay, and the and the skew here in the uh on the offer Okay, so just looking for a little bit of a break in here some some transactions to start to pick up in here Here we go. See see the the the order is transacting in here and uh the uh liquidity Depleting very very quickly There's 220. All right, let's see them now move it here. Hey, there's two. There's 113. There's 33 There's 50. Okay back to the 115 retest it in here Hey, this is this here these retests that you see here Are back to your high volume node. It is the same concept In fact, uh, let me show you here Oops, sorry about that Let me show you here our high volume nodes. Let's put the let's put the uh transactions back on right uh and uh Our 220 in here or two now it's 285 at 07 here. They are right here Right here. They are here Okay, so that's your high volume node now. Are we getting buyers back up above it here? There's they're trying to see see them come in I'm sorry. It's 08 at 08. Uh, it's these transactions up here Okay Well, there's a there's a fade Okay, now buyers are back in now if the buyers can get back above this then they're going to trade up into this 160 Are sorry 10 and uh and 11 here. So it's the opposite now Right, and they are doing that is flipping here. These guys now. This is your trap In here, okay, we were looking for it. We're we saw them coming in we saw them coming in We're looking for that move down into 0 4 right This here we saw in the dome and you can see it here exactly what we're covering. Um in the um In the heat map I I hope this is making sense to you guys like uh Uh, we're not making it up in here. This is why we draw these boxes like this And we say this is a pivot point if we can get buyers back up above it We should get our stop run And we did Here is our stop run here Okay, this is the squeeze. This is a short squeeze here All right, let's turn it into another flag pattern in here pause and back up into high liquidity in here This is weird kind of weird action in All right on the drawing tool anyway, um All right, and uh that would be it Makes perfect sense. Okay. I that that's really it's really good to hear. Um The uh, I hope that it also makes for you dome dome traders in here Make sense of some of these things in here because uh, it's the same examples that you've probably been looking at for for ages, right? It's just way more visual here in book map. We can look at we were looking at those transactions looking at those transactions We saw the skew in the order book here in the dome And we saw the transactions, um taking place here. We're looking for the move lower. We we got them It retested again and then it came back up in here and we're like, whoa, whoa, whoa, whoa, hold on Wait a minute if we do get buyers back up above that area Uh, where was it? was that oh At this 07 or 07 and a half or so. Okay, so 07 07 and a half Uh down here now these numbers have have changed and updated now here it is 07 and a quarter. Okay, right here Here's the squeeze Look at it Right. We we we had an edge to the downside and then here's the squeeze now to the upside right, so Anyway, it's just a different way of visualizing the The data We'll have to have gary, uh nord and come in again. Uh, you know complete expert in the dome In fact, uh Let me show you guys like uh, if you want to take a look at that. Um, I I highly recommend it He's he's excellent We have a playlist for gary. Uh, just go to our playlist here on youtube And you'll see him here Okay, it's fascinating. Uh, he'll take you through the whole history here of he was there, uh in the uh in the life pits uh and talking about You know electronic trading starting to unfold and You know these kind of uh rudimentary versions of of the dome. Uh, it's really interesting stuff Uh, and he um was helping develop Uh the dome and in giving feedback here here's an example They were using this called, uh ATP in here. In fact, it was kind of like a a mock pit Uh, and like here's the price in here and here your your players in here Uh, and this is how they originally vision visualized it Uh, you know back in kind of I think it's the early 90s. Uh, maybe uh The 80s early 90s. I don't know something like that. Um, and Uh, then they went from this To and they got feedback and they went to something like this, uh in here Right, uh, and it kind of turned into the dome that it is today Uh, and then this now Uh, you know he prefers to trade off of this and he says that you need this is all the information You need uh for your uh for the kind of trading he does Uh, what we're doing in book map is basically it's the same information Uh, it's just you can zoom out and see it on a higher time frame All right, and this is really golden in here because look at this higher time frame in here Uh, look at this pullback in here And we were looking for God it was uh, yeah, I think it was it was it these two in here Shoot Losing track of it. No, we were looking at it here earlier. Yeah, right in here Okay, so we're looking at it in here Uh, and then here's our breakout. Here's the retest back to that area and here's the continuation And look at the buyers coming in again Hey back up to looking for 15 now And now let's look at some measured moves, uh in here as well It's probably already done it. Uh, maybe up to about here though Be a little bit higher here And then we're going to look for a pullback Hey, we're already getting our pullback to be honest Hey, so now we're looking for again a re attack here by the buyers Uh, and see if they can come back up to 12 or 13 and then break out up into 14 15 14 and a half 15 Okay, here they come Let's see it. Let's see. Do we get a skew in the order book there? They're starting to pull here adding a little here Okay Got just a retest here in a pullback. Here we go. See the skew here Looking for our buyers here Then the breakout up into here and here There we go All right Make sense Still buying so still looking for 15 Got a little bit of pullback here Tested it here buyers found buyers looking for buyers to hit 15 maybe 16 There's 15 And then there's kind of a vacuum in here on the on the bid right now. So sellers can take it right back down So take your profit Now here here they are on the bid again and we found buyers. So we're looking for the move higher All right guys. I'm going to close the dome and uh Some some good examples though in real time How to read these things Uh and put that together And then in terms of spoofing well, we didn't really cover spoofing. I mean maybe a spoof in here Uh, it kind of looks indicative of a of a spoof Kind of layering on one two three four levels in here and push price down and then they take it away here All right, so this is kind of like a spoof in here. Uh, basically Which was very successful. I got The price to move back down to Where these buyers came in All right, that should answer your question there. Oh, yeah, does Jim Simmons uh use uh, This kind of information as I goes. Oh completely Guys you wouldn't I mean when I first started with book map, um The uh the trader that uh trained me on this Uh made me read Some of the white papers, uh and and These are from Known quants as well as lots of financial engineers that are they want to work at the banks Uh, so they're coming up with all sorts of different things that you know, what affects price, etc Uh, and this was kind of the heyday, uh, you know, 10 years ago or so Uh for all of that algorithmic trading and oh, oh, yeah, they're looking at everything that affects price in terms of indicators and stuff that I You know, I don't know exactly what uh, uh, you know what the secret sauce of uh, uh, Simmons is Um, I've got his book and I've been reading it, but it's it's I kind of gave up on it. It was uh um More of a story uh form But anyway, uh The uh, and I was getting kind of tired of this reading about his history and his wife and University and all that kind of stuff But uh, you know, what affects price it comes back to first principles again. What affects price? Well orders affect price Right, uh, now what uh, you you can just say you could just leave it at that in terms of What affects price and then you might make an art someone might make an argument. Well, it's the fundamentals. Yeah, that's true But it's still the orders of traders Uh and and participants Uh based off the fundamentals right, so Again, it comes back to there have to be orders in the market uh for it to uh For it to trade and for it to move There ha there has to be Even if the move was let's say No one let's just go through a crazy example Okay, up up here. This this will be a good example. Okay, we'll we'll skew the heat map in here right, let's suppose there's um Only a few traders in here trading this market And let's suppose the um, uh, there's a buyer in here wants wants to buy And uh, uh, there's a seller. He's up here at 20 a 48 20 This buyer if he wants to buy Okay, let's suppose like, uh the FOMC comes out and uh Um, the news I don't even want to say if interest rates rose or whatever The news is good. Okay. It's bullish for the markets when he wants to buy If he buys down here at 13 or 14 He's going to get filled here So even this big move in here of uh of six points Took place because of the participants And then, you know, someone would say, oh my god, it just moved six points just like that. Wow. That's incredible Well, not really there's only two two participants in the in the market at that time So, you know, that that's what unfolded that volatility Uh unfolded only because of the lack of participants And these are really easy things. You know, sorry guys. I don't mean to digress uh too much But understanding that these markets uh and and the participants is what makes up the In the order flow is what makes up the price action Uh is a pretty big concept or It's a pretty big truth, uh in the market and a lot of a lot of traders don't Um Go into those details Instead they're going to read an indicator and just go yeah, I'm going to I'm going to short it if it comes up to that indicator and uh With the details that we're seeing here in book map though, we can get so much more information out of it What is the appetite for it to trade up here? Okay, what about these traders in here or these sellers in here? Are we do we get back above it if we do and we see buyers and we get maybe a shift in the order book as well Yeah, we'd be looking for it to trade up to here No, no no problem. Then we'll look and see If we want to short it up here. Maybe we don't Maybe this liquidity pulls and flips to the bid and we're still finding buyers at that time All right guys I know you you get the idea. Um, so, uh, let's uh, let's get to some questions in here Yeah, visual dome rob absolutely And hitting singles there you go rob Yep, I loved your, uh Content from the from just yesterday and that's why I wanted to cover it And cover the singles in here getting these singles build that confidence So you look at see how see how they're pulling that liquidity and we're finding buyers Great. All right. So here's your mean reversion traders right now to trade it back to vwap And what's up at vwap? Look at all that liquidity up there Okay, all right buyers. Well, if that is the case then you should be able to reach this 19 or 20 level up here Okay, now a lot of things happen on the smaller time frame in here, but this is the concept We're seeing them pull we're getting our buyers we're seeing the bid in here We should be moving up to Some sort of mean in here And it doesn't even have to be we can even take the vwap off here. Who cares? Uh about the vwap. I care about the liquidity This is where the sellers are up here All right, so that's what we would look for then Uh, so anyway that comment about the Simmons in there. Uh, yeah you know some of those Uh, some of those white papers in some of the details they get into, um, they're almost all based on the order book It's it's um, it's essential Thanks. Hi, Louise. Yep Yeah, the the the russell kind of does its own thing It's a weird it's kind of a weird one Uh Anyway guys when we don't see uh, this is another thing that's really important and rob. This is something I wanted to really cover Uh, you know when we don't see clarity. We don't get clarity in here Well, we don't know and nor does a lot of a lot of other players don't know either I mean, uh, we can't You know tell what's going on and that's why you'll see this testing and then something change and flip I that's my opinion But we see it all the time in here You know, we'll see high liquidity flash here flash there. What's the reaction? What what happens in here? Uh, and it makes sense It's kind of like you're dipping the toe your toe in the mark in the pool a little bit You know, what's the what's the temperature? You know, let's test it a bit What's the appetite? I mean, there's all sorts of things these algas are reading very very quickly Uh making decisions on correlated markets geopolitical Uh Many many different inputs A different time frames different players Uh, it's all bashed into the market Okay, so earlier we were looking for that move up into 20 and yeah, it still looks good But we're getting a bit of a pullback now Okay, here's here's some exhaustion in here and sellers coming in Maybe they can take a little lower maybe down into 14 and we could still or even down here Uh, and we could still be bullish Down to uh, yeah about 14 Okay, so it tested down here Buyers back up can they get above these guys in here? Yep. All right So now now I'm looking for these buyers to come in And here's here's the test on the uh on the offer we found buyers. All right looking for buyers again Now I'm looking for buyers to now move it back up to the top of the range and then to break out into our 19 and 20 Okay, they're above this that same flip that we saw in the dome earlier Uh here Okay Interesting. All right. So the buyers didn't squeeze the uh the sellers yet. We the sellers come back in The buyers might get squeezed now We might get one more push to uh 13 and 12 Look, you know, I got it wrong in here look looking for To move up up to the upside in here based off of this kind of flip that we saw in the dome Uh and earlier now here we go again same idea same concept Looking for the buyers here and then the move up into here Okay, still can't do it. We're we're not finding them. We're finding sellers in here Okay, so it's back and forth in here We go again one more shot at it Hey, let's see if the do we have the order book on our side in any of these examples a little bit in here Okay, nothing yet in here Let's see if we do let's see if we get a little bit of a push here on the bid And we find our buyers in here look for it It might happen really quickly Okay, we're getting some exhaustion up here the guys not not we're not getting our buyers It was looking pretty good here. It had the potential here Didn't find enough came back up here again again and didn't find enough So now it's tested the market has tested up here and it did not find those those buyers Okay, so what this is the um Uh, and we didn't have the order book on our side either It we're looking for that scenario, but we didn't have the order book on our side We didn't have the the buyers up here either Okay, so the sellers have taken it right back down Uh into the demand down here that demand pulled away from the market as well Okay, now let's see if we get a move a counter move here Uh by buyers now Okay back up to where it dropped from Nothing yet in fact more sellers hitting the bid. Okay, there's our exhaustion again Down into the high liquidity at at 12 A bit of buying. Okay. Now buying can buying get back up above here And what about the order book? So there they go Hey, now we got a little bit of a skew here. It's down here though. I don't like it I want to see it up higher I do like that they pulled in here though. That's good And we're getting our aggressors Hey, so we don't have all the pieces Uh, but uh, let's see if we get it in here starting to see a bit coming in at 14 there See the test on the on the offer in here Hey, there's our buyers No, I really want to see a skew on the bid in here And uh, and then get buyers at this kind of uh 14 and uh, and three quarters 15 there they are now do we we see that skew? No So sellers can still bring it down here now. This is where how much risk do you want to take? You know? Uh, what do you what do you think? Uh of it, you know, do you know that it can come down to here really really quickly? Uh, are you prepared for that? Or do you want to wait until you see something in the in the order book to give you more confluence? Hey as price starts to kind of drift away from this area though Hey, so here look 15 testing again Finding buyers though now watch this now. We'll probably get a skew on the bid Uh, because uh, we found buyers we know there's buying interest Hey a little bit of a push here and we can get a nice move back up into like 17 and a half 18 There they are see that little that little test right there that little push Okay Right there I'm not making this stuff up And we're and that very quickly moved us up here now that you know, it's hard to it's hard to We saw it. We saw it in real time and it was actionable. Uh, but it you have to be pretty quick Okay, still looking for the move higher Okay, we're back up to where it auctioned before And let's see another skew in here on that bid Looking for it and then the pop up into our 19 There it is. There it is 17 They got up to 18 And we find some sellers interested in trading to that 17 liquidity. So what does this mean in here? What is this is new information in here? It means like maybe we're going to get some back and forth now Maybe we won't get up to 18 or 19. We got up to 18 Well, let's see. Well, we're above those sellers in here Maybe we'll get another skew on the bid Do we Then we get the pop into 19 or 20 Nothing right now sellers could take it right back down to 15 pretty easily There's our buyers. Okay. Good. What about that order book? Nothing Exhaustion on the offer actually so sellers will probably take it back down a bit here Maybe back down to about 16 Or 15 and a half What am I looking for on the bid? I'm looking for liquidity Okay, I'm seeing liquidity here on the offer at 18. I want to see it on the bid and there's a little bit down here Uh, see it's kind of a shade of blue in here So let me let me go back and take down the And raise the uh, or lower the cutoff as well Okay, so we're looking for this kind of like well when there's more demand in here Do we find aggressors on the buy side or do we find sellers interested in that demand? So now at 18 see how we haven't really tested into it. We're not really finding that that The aggressive demand in here Okay, and if we get exhaustion which we did here many times over right Okay, so now I would look for sellers in here and then they could potentially drop it now now Now we're starting to get some demand in here Um in the uh in the order book it's faint in here But you can see it right this this blue area here Okay sellers take it on Okay, so we we're quite sure about that Uh, and therefore we're staying away from it Okay, and what we had in here is we did have the exhaustion I would have loved to have seen it would have been great for example if this were um dark in here Okay, because we have exhaustion We have some selling down here some selling and then looking for them to you know hit hit the bid hard Back down into the these levels here Okay, so um They did uh, but uh, you know, they they actually traded into some of that liquidity there And now we're back up. So it's it's kind of back and forth right now You can see look at the offer here What's the reaction sellers? Okay sellers should be able to take this down to about 15 now Just based off of this in here And this lack of uh a buying in here Right, so just looking for them to trade back down to about 15 and they're pulling here On the uh on the bid now it didn't happen this time. We actually found demand out of that That's odd really odd Okay, so that's that's not what we're looking for but uh now we have the potential though Uh of really popping up into 19 and 20 here Okay, because we know if that is the case This these buyers they want to buy and they're telling these sellers these passive orders in here We're buying So, you know what look at the we should see uh the buyers now trade up into 19 and 20 here Hey, let's let's take a look at the the bid here at the 17 and a half Huh some sellers are interested in it Okay, so there's a bit of buying All right. Yeah, I'm I'm looking for the the pop-up into our 19 and 20 now Okay flip of the book in there It did auction up here a little bit. I just can't do it Just can't can't do it up here interesting All right. Well, yeah, you know, so Got it got it wrong. We got a flip of the book in here Uh in a move in a move lower into this liquidity down here targeting this 16 and in a quarter Okay, now I'm still I know there's buying interest in here though okay, so uh, they they did this move in here in Right in front of all of this liquidity on the offer So I know there's buying interest in here So I'm again looking for buying interest here here at this 16 and a half if I get it Then I'm looking for a move right back up to 18 here and we're not getting it Okay back down to 15 Okay, and still again looking for a buying interest here. They come Buying interest again at 16 and three quarters. Let's see a skew in the book here There's a little bit not much There it is a little bit of a skew here And let's see if these aggressors now can move it right back up to our 18 and then through it We're still waiting for the move into that high liquidity up here at 19 and 20 And 21 And that's our our VWAP as well as you guys know Yeah, they Get rid of those goofy buyers. Yeah, I mean the the thing is though is like we know that there's some buying interest That's you know, it's in here Okay, and then we know there's some selling interest in here too So it's it's back and forth and we don't have our bars in here like that. Whoops. Sorry How we can put our VWAP back on Okay, so here we are back up here buyers Looking for a little skew in the liquidity on the book And find our buyers And trade right up into 19 and 20 and 21 Okay, so the bid is looking pretty decent on a on a little bit higher time frame I'd like to see it right underneath it But I think I think we got it here Let's just see if we can get a bit more buying up here right at this kind of 18 Level skewing the book and we should get a nice pop No No, they're pulling That that was started started to pull in here. It kind of opens the door for the sellers to hit the bid Okay, so it's not not ready yet. Not again another rotation. Uh, most likely Yeah, it's fighting it up up in here. No doubt Here comes our attack right here Hey pulling on the offer Yeah, they didn't really add too much on the bid so it doesn't look so great In fact here, they're adding on the on the offer and and we're finding sellers Okay, so we've we've seen some kind of weird action in here On the bid and the offer or in the depth and then the the the transactions Um has been a little off in some of those areas I I know in here that we confront Confronting this liquidity in here. We found buyers and they traded up to here now. It's a stop run too However, uh, there there's some interest to attack these areas in here So I'm still looking for the buyers to attack back up here It's just not enough yet and they just keep giving up at some of these areas here And here's that liquidity on the offer look at buyer buyers are interested in it So this is a good sign again without a skew on the On the bid buyers are interested in this kind of 17 liquidity here Here's our potential spoof. Look at this one player just came in with three orders Here all the same size and he just all pulled there's your there's your spoof a gh Okay That's a spoof very indicative Okay, this is a test. What's the reaction? Well, here's our reaction sellers And this can be maddening in here when this kind of stuff happens But you just saw that right in real time in front of us here Now and and the reaction was sellers Right whereas we were you know, we kept looking for buyers in these areas in here and this told us a little something in here Okay, it's yeah, it was kind of mean kind of kind of nasty one player. I know it's the same player in here Uh, he he came in at this level first skewed it again skewed it again All the same order size in here Uh out of 198 is probably 100 lot 100 lot 100 lot on three levels in here And the reaction was to the sell side Okay So that that spoof kind of kicked it off in here. Uh, look at the reaction All right, whereas we were looking for those buyers Okay, and we again and again just just to get back up into this area here of liquidity Well, that's that's uh, that's over now Okay, now we're going to see the sell side watch the Um stops to the downside here Okay, now we get low enough and maybe this is it Yeah, not not bad not bad level here. Okay, also high high volume node here just tested it Okay, so now, uh, we can get a re retest back up to there Uh, this would be another mean reversion type of trade Hey, also your high volume nodes in here And but we got to look for this to Turn around and change and come back up So here we go So see this here and the buyers above it great. All right. Let's see if we can get back up to about 08 or 09 Here's a skew in the book. We're finding buyers looking for 09 That skew was uh short lived Very short lived there now there's they flipped Yeah, it totally flipped here. Hey the flip is here on the bid finding buyers Flipped on the offer finding sellers. So yeah, this stuff changes quickly, uh, you know, we that's why like You know, we want to look for something really really clear to make sense of Uh, a lot of this action Hey, when we really see that clarity in here Because this this happens all day long Okay, now here's another flip on the offer on the bid here finding buyers. Great. Okay back to 09 Uh, maybe back to 11 Um, or 10 and a half Okay, so here let's it's looking a lot better now. Let's go back to the default. Okay traded to 09 Okay, so let's see if we can they're pulling at 10 so we can float back to 11 And this transaction here Why are you the only one chatting in here donkey face? I don't know. Um I hope there's a interest in this, um, you know, you don't need to Follow it all so closely. I mean like you can see like this spoof had had an effect and In my opinion it did at least um, and uh, you know made made these these markets move in here And we see the stops on unwind in here and so It's uh, the markets are Are complex, uh, I mean there's probably more going on and it's just not a spoof in here that made this unfolded I I just think that there's there's probably this was probably coordinated Uh, if we take a look at the nasdaq here, what time is this 36 11 36? Let's jump over here nasdaq Let's just close that up nasdaq 11 36 See if we get a spoof in here Not really that's interesting. I thought for sure we would uh Okay, that's interesting. Um Yeah, usually you kind of see it coordinated a lot of the times But uh, yeah not not this time I mean, maybe you can maybe it's this in here We can we can say it happened maybe in the nasdaq earlier. Uh, there's no doubt about that. That's higher liquidity that Uh transcends the uh this kind of uh, you know Whoever it is uh kind of stat arbitrage or I don't think it's market making algos, but like Um, these guys following the nasdaq along the way Well, here's here's a skew here. No question about it. And finally we get the the move to the downside Yeah, nasdaq was is usually is typically leading these these moves All right. All right guys. Anyway, this was uh, I hope a worthy exercise to go through and start to understand Um starting from market structure and understanding. It's about the orders Uh, it's that's what makes it up. That's why we're looking at the order flow. What uh affects the markets Uh putting these pieces together Uh, and then looking for the move to unfold in a specific direction Uh, a bit of a challenge in some of these areas up in here was looking for it looking for it looking for it and then uh The um, uh, it just ended up unwinding here Uh after uh, this kind of uh spoof in here But when we look for these things in here, you know, we look for all the pieces when it it really does, um Tell us something Hey, so We're just trying to read it in real time here right now so go back in hindsight, uh and and do this uh, and uh You know start to look at wow, okay, you know, here's high liquidity here, but we found buyers interested in taking that on Okay, and what about all this selling down here? Well, they're gonna be getting stopped out to the upside in here Uh, if we can get back above it and you can clearly see We retested these transactions in the top of the structure here that structure Was was formed Due to this high liquidity on the offer We get the retest we come back up In fact, they pull some of the on the offer in here and buyers take it on up to the next levels of liquidity All right, so uh, it just happens again and again and again and we looked at the uh, the dome uh, and Derived meaning from that and then showed it also in book map. Uh, we went over some trades and reviewed some decision-making processes um Trade wise trade management wise as well Right, so now rob. I I want to I want to double back and just just go over one element in here because like we what we're covering in here was um more Uh, I wouldn't say it's more advanced stuff, but there was a lot of Potential for confusion. Uh, there's a lot of shifting a lot of changing um in some of these areas it was confusing just because uh We saw the liquidity in here on the offer, but and and the bid was kind of wide open Uh, there's not much there, but we found aggressors anyway. That's why I was looking for the move higher in here And we didn't get it and that that is confusing. Uh, but that's what ends up That's what ended up happening in a couple examples in here right, so What I mean to say and try to make it less confusing Is when you start to look at some of these areas Okay, look at and lean on this structure in here to give you insight So for example, um Right now You know sellers clearly moved it away Okay, so your sell side you're you're looking at the behavior in the auctions in here Okay sellers Hey, where did the pullback come to? It came back to this swing here peaked its head above found sellers again Not enough buyers sellers again Came back up here didn't find buyers. So we're looking for this exhaustion there Sellers trade it back down to here. So we're still leaning just go back and and try to simplify um this instead of like um looking at the here in the now Uh and basing it. Oh, I'm looking for this flag pattern or I'm looking for this some sort of pattern to unfold here Uh instead look at all of this back here Uh and then start to um Lean on that to where price might go next through scenarios build those scenarios All right, so I think that'll help you and I think it'll also make things clearer Uh and less confusing You know the markets like if you and if you've got it wrong Like you covered in your uh your video and your your um content the other day Just just get out Okay, it's telling you something. All right. Well and or maybe you read it wrong It it's not always um Making sense Okay, we just want to trade when it does make sense for us and we wait for it to come to us Uh and uh all that other stuff in between we don't know Uh and we wait for clarity on our side then we can act Okay, because we know what that looks like and we know how to use it and that's our edge All right guys, so uh, thanks everybody. Have a good weekend. Let's uh wrap it up And uh, we will see you next week. I hit the like button if you can Uh that always helps us and we'll see you on monday. Have a good weekend Okay. All right. Yep. Thanks everybody. Yeah, take care