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This is just for today But you can see all these events in here. It's from, you know, eight o'clock until close market close at four o'clock So this is the current webinar here all markets with me Right after that you have Tom B volume profile trader looking at the S&P e-mini today. We have in Spanish. We have Frank Moreno Spanglish trades he'll go through the Stocks and futures in Spanish options with Doug is at 130 and then the algo boys rounded out They are only on our discord channel. You will need to come there if you want to watch that stream So lots of different things happening every day here in the calendar. All right, so let's Go through the disclosure quickly and then we'll jump in 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 pass performance is not necessarily indicative of future results All right, so let's take a look here and not sure what to cover this morning here in the webinar I think I'm gonna just jump right in and go through some correlated markets Just saw some really great stuff earlier today, and I posted it in the chat room here in discord So I thought I'd go over that Take a look here and in our discord chat here This one to begin with and there's a divergence here with the 6e and Boy, this is pretty big here. Hold on with the 6e Or the euro dollar and then the stock indexes now This is what's important to understand here. There is Something wrong with the pricing here. All right, this this correlation with the 6e. There's euro strength But the the S&P is selling off. Okay, that's not the way it's been typically acting All right now, what do we have here in the S&P though that helps us give us more information here? Okay, well we have a few different things number one This was a previous low here as you can see at the during the European session Well, we just dip below and make a lower low here But look what we trade into high liquidity on the bid here Absorption so this might be the theme that we're gonna cover is is about absorption today the This is a really great opportunity you have Larger players lined up on the bid getting filled transactions right into them And you also have up here the euro strength. So this is a bargain down here Okay, this is where you can start to think of these is not don't don't look for a specific setup Or you know, you're not looking for some sort of puzzle or mathematical thing here You're basically just comparing a different products in a market You might be going to the farmers market and you say wow, you know, well blueberries are really high right now But raspberries are really low Therefore, I'm gonna stock up on that's you know Off, you know, so I'm gonna stock up on on raspberries or blackberries or whatever and I'll wait and get blueberries Another time. That's what you're basically doing here. So And these things happen all day long so we see that finally the Just after eight o'clock here the S&P really starts to pick up. Okay, it becomes in line with the euro And the S&P goes up. This is the correlation. We'd be looking for so we're looking for to trade up into where This is where book map helps you not only with the absorption here. Okay, it gives you really good insight here You want to be trading with these guys down here. All right, they got it wrong There's an imbalance here. All right, and then up here. Well, it starts a target high liquidity Okay, so if you if you get involved look at this on the bid at a higher level They're still on the bid trading into higher liquidity is still going higher So you look for 55 you look for 58 look for 60 As long as this correlation is working and you see buying strength come in the ES This is where you're looking to go. All right, so really simple straightforward set up here to You know, this is something you can add into your Your your trading plan we can go down further and I found another one right after this this was after news in fact And here it is here, right? Very very simple again and Here's the news you can see the liquidity pulled what was it this was a PMI Ah God, what was it? It was the Flash manufacturing and and flash services PMI at the same time here So, I mean this is an important number and you can see it's important because it's respected here Everyone pulls their liquidity And what happens with the you don't get much of a move here in the ES But look at this euro dollar drop. Okay, the euro dollars this The 6e here. It's this green line and look at this here. Just chopping back and forth This is where you want to get in on things like this. Okay, you want to trade with these traders here? Okay, they're buying and and yet that there's dollar strength here. Okay, so there's something wrong here and you're looking for getting At least the the concept here is you are purchasing or you are selling here the ES at the top Okay, it is overvalued compared to the Euro dollar right very very simple things here and well you got a good price. Great Okay, now, how do you manage something like that? Well, you can look for areas of high liquidity to take some off or if this continues to Once it starts to align with the correlation hold it and look for, you know, lower liquidity levels Just like we did on the way up in this example here All right, so anyway guys it this is over in the discord chat if you want to come over here and check it out I just posted them some minutes ago. All right, so just to let you know All right. Good morning, Tony. Good morning viper Yeah, viper, I mean, I know that I mean these are just so so simple Concepts and yet these things happen all day long Now, you know the lower the time frame you go the the harder it is I think I find with correlations because you know, they maybe they just are out of whack for a brief for you know several minutes and That's why this is such a much much better setup down here is that this had gone on for a while and look at this pricing and You've got absorption down here. It's beautiful Okay, so you're really looking for this to unfold if this doesn't boy something's wrong I mean either euros got a curl over and drop you know or Something but now you can see that the correlations have aligned again here and look what's happened here in the S&P, okay after the news here after you see this drop here in the Euro dollar the correlation with the S&P line aligned and it traded right down and made new lows here into 41 40 now it's just starting to bounce out of that area yet. There's still even with this bounce here There is still discrepancy here Okay, Euro dollars still at a lower area here is starting to bounce a little bit But like you know not like the S&P has All right, and in fact we can go over and let's take a look at the the Euro dollar And this is something I want to cover in here Align some of these areas Look at high liquidity and look at absorption Or this context between the aggressors and the limit Or the liquidity the limit sell orders here and look how it starts to trade up into these areas in here Now we're looking for something similar Right. We're looking for absorption complete absorption Lots of limit sell orders and buyers can't get through Okay, that's what we'd be looking for On the Euro dollar and then to align that with the stock indexes. Okay, so And then once you can kind of see that and and this alignment here is is a beautiful one You know here here's another one up here, but let's see what time was this that was at right around Nine o'clock nine oh two. All right. Well, let's take a look. All right. Let's look at you know, you know S&P went higher. Let's look at the Around nine oh two here a Euro dollar Okay, so yeah, you start you can start to see some selling in here. I'll assume in a little bit more I'm looking though for absorption now. We had absorption earlier here. Okay at this price level, so that's pretty good Okay price went a little higher though. Okay, but do you see a lot of buying pressure up here? Here's our absorption here. It actually happened, you know, like half an hour earlier basically It did come up into this area here, but they they basically pulled here on the Euro dollar And then we can see that it punched through but do we see a lot of buying in there? No Once we start to see go back into the range here now. This took a little while Because this was in an uptrend here and it takes a little while for these things to turn around And it was basically the data that turned it around It was on its way to me. It looks like it was on its way. Anyway, we see some more absorption Not really actually Yeah There are now. This is a little more complex and we don't really see absorption here But it was up here though for sure Okay At the highs and that's where we'd be looking for You know this in the S&P Hitting absorption as well. Well, now you've got something here 902. All right So there's a whole bunch of different trades in here to take a look at. All right, so 902 here now S&P went a little bit higher, but it finally did sell off here That's that's due to the data But anyway guys just some concepts some ideas to cover and Really, I love the correlations. I think it makes a lot of sense when you start to really Look at these markets and look for opportunities because you're looking for something misaligned in the pricing And it only makes sense to me that if it's compared to something else alright, so Anyway, we have the Correlation or the market pulse Tool that can show the correlations as well But it gives a sound on the You can add it here It'll give a sound here. So we've got the volume pressure for each of these In fact, let's just open them both up. Okay for the NQ and also for the Euro dollar here And let's see what we get right and maybe we'll keep an ear out for for these to Give us some insight with the S&P here. All right So good stuff and Yeah, let's let's continue on and let's let's stick with this theme of absorption I think today I was going to go over price action And well, I can I can put it to the vote here whatever you guys want to listen to or What you'd like me to cover here, so I'll put a poll in here add one more option actually put your vote in for those of you over in discord it's Over on YouTube so I guess I can throw it in here, too You'll have to put a thumbs up or a thumbs down on what you want me to cover here absorption price action or core Relations. All right, so put a thumbs up or thumbs down on one of which one you want or put a thumbs up on The one you want in in discord in the chat the hashtag all markets Bruce Okay, all right, and let's see who's winning so far over here absorb shins the winner so far Okay All right sounds good sweeps Okay captain price Yeah, I Maybe maybe another time on sweeps. I don't know look at this NQ aligning here You guys can hear that I know over on YouTube you cannot hear it here I'm bring I'm gonna bring this down a little bit here. Oh, there's a real real strong move here I'm really really strong move here guys The the correlated markets are are all aligned here as well However, like a boy as I'm sorry about this I'm just getting it kind of set up here and we're the move is basically over I would be taking profits now on this up at the top of the range here to be honest So I know there's gonna be some profit taking up here And we know that's where the sellers came in when this data came out Right So Yeah, anyway, we kind of miss the move on that which is kind of a pity Let's see. Do we get anything out of the correlations? Not really I mean we do have a miss pricing here the S&P took off here before Euro dollar so this actually Is kind of interesting that the correlation kind of flipped here the Euro dollar was kind of leading earlier we see look at the difference here and then look at the difference here okay, so Here we have the S&P leading And you're now Euro dollars kind of catching up to that Okay, and it has a waste Euro dollar has a ways to go it has to come up to here basically Okay, so S&P has already come back up to there. Okay, Viper. Yeah, you did the spread Yep, nice with with NQ and ES Yeah, yeah, good one Did you go kind of Delta neutral on that or did you kind of add maybe two contracts? NQ to one ES Viper just kind of kind of curious I'm sure that I mean you can what's really nice is the Using the micros to really align it and get it spot on One-to-one. Okay Yeah, yeah, well, I mean the different Delta, you know the movement is it's kind of it can be kind of tricky with those those two instruments, but Anyway with that we you can definitely match it up a lot better if you have a large account with the regular Regular contracts. Yeah, no no problem, but with the micros with You know smaller account that would be a lot easier. You can really fine-tune it All right, well, let's see that the winner is absorption here guys no one wanted no one wanted to cover correlations, okay? All right sounds good. I'm gonna take the correlation tracker off the chart then here. Okay, so If you guys are interested in this, this is where you can find it. It's under the configure add-ons area here, so You just you know click on it here. Are you this comes? This is included with global plus So if you are interested in that it it's only with global plus not global Okay, and you have to open up the symbol like 6e over here first then you can add it here Into the chart see if I click on add here. You can see what I have available is only what I have open here. All right And we've had this tool for a long time for you know over like five years or so but Anyway, all right, so let's take a look at some absorption. Well guys are good good good call. Here we go Here's a lot of absorption already all right, so now Yeah, I'd look for this to sell off a bit here and into liquidity on the bid here and here 52 and a half and It's not you know, we're reading now context here. This isn't really important thing When when that you want to look at absorption is you want to look at the context here The strength and the move is still to the upside here Okay, so this is the way to read I'm guys. I'm gonna I'm gonna close these for now sorry because I really want to focus on the Absorption here. Okay, so it's really important. It's such a key element in book map and it's it's it Get getting really good at absorption. It's gonna be really helpful There's absorption or I'm sorry. There's not absorption here Okay, look at this. This is the context that we talk about and it's right in front of us And it's starting to happen again up here, right? We would look for this to drop into and it's already done it. Okay into our level here I would take partial profit there just to reduce risk. It's not a trade recommendation. It's just a consideration For managing your trades. Okay. Now, let's let's go through it though. Why? Just and we'll zoom in and look at these two examples. Okay. Why not here? Okay, well, they're on look at they're on the bid. I'm sorry. They're on the offer here They're on offer here, but look at that buying pressure and Look at it tear into That high liquidity Okay, now it pulls back a little bit and This is where the context really is key. Is there more buying pressure by the aggressors? Yes More buying pressure they trade into this level and they trade right through it. They keep blazing through these areas here All right, we get a bit of a pullback in here and again buying pressure into high liquidity here and here now it's being absorbed though Okay, absorption means That it cannot trade through that area. This is an example of absorption It's not the best example, but it is an example. Look at all the buying up here Hey, it fails to go higher Okay, it goes one tick higher, but they're still here at at this 56 and a quarter as well All right, this is what we want to understand in terms of context Now what we want to know is there if there is still buying pressure Okay, let's zoom out. So we see that we get an immediate kind of sell-off here and we do see some sellers here Now this is where you can you can look at all sorts of things in here You can look at your ABC patterns. You can start to look at your volume We've covered this for years in understanding I might may cover a little bit of the ABC pattern, but we've covered this for years in here that Now we're looking at this kind of turnaround Okay, now what we want to understand is if now we got the absorption here. Okay, we got that Do we get sellers at a at the bottom range here? Yes, we do now. We're looking for Exhaustion up here or lack of buying. This is the context yet again. Remember how we looked at it earlier Okay Back in in this area here. The context was there was still more buying pressure Okay, well this context is different There is not more buying pressure up here. It is starting to exhaust out now What we're looking for is sellers again, and we do we get them at the bottom of this lower range? Yes Okay, so we're just looking for in this example just to trade down to here Okay, now. I know that's only a point but the example holds true and then we're looking for it More selling to take it down to the bottom of this range here Okay, and then we looked at I think 52, right? Something like that. Let's let's take a look here. No, I guess I guess first we looked at yeah This one here at 53 and a half, but then we said in real time before it traded there. We were looking at this kind of 52 and three quarters and that traded now We are still in and a pretty strong move to the upside But due to this absorption and these sellers were looking for it to at least trade down to here That's it. Take some off. Okay reduce your risk move your stop to break even you get stopped out So what you made some money you protected your loss Okay, and you could have been set up for a big reversal Potentially, okay now what we want to determine again is the buying pressure Versus the limit sells and here we go and they're to see how they're trading through now Okay, this was not absorbed. There's more buying pressure in here Okay, great. So where we looking 60? All right, so If they can trade through these and we still see buying pressure We're looking for the next level of high liquidity up here. All right. Now. Let's read the pressure up here. It's not bad It's not bad. I'm still looking for this to go higher If we trade into another variation of this would be We trade into these levels in here and then we start to exhaust out up here. That's not good Although we do see buying pressure able to carry it through Then if we don't if we start to see very little trading up here, that's not good Right. It's starting to exhaust out All right, so then we would look for maybe a deeper pullback uh, so um Or, you know or potential reversal, but I would look for the deeper pullback at that time Okay, now now look at look at this look at this uh Configuration in here buying into high liquidity Okay, this isn't bad. I would look for the retest now. They couldn't even retest back up to the high here And do we see sellers in here? Yes sellers here sellers in here as well All right, so Now look at lower liquidity here at 57. This is what we want to determine right here in the in live market Can is there enough buying pressure to trade into and through this? No, not right now Not right now Okay, so sellers should be able to take it down to 54 Okay, or maybe down to this 52 and a half Okay, there's our context playing out in real time All right. Now we weren't quite too sure up here To begin with because yeah, it's not bad there. It's auctioning here. We see buyers up here There's still some more buying pressure So we do look for another retest back up here and they failed to get up there We see the sellers in here We see more liquidity at a lower level here and we start to see the selling coming in. I'm looking for it to drop It's already traded to our first, uh level here at 54 Okay, you can take some off Right now. These are just considerations. Okay, we're talking about we're integrating Reading order flow here together with trade management Okay, very simple reads in here and we're talking about this context with absorption All right, so uh, uh, anyway, uh, we Yeah, that's that's what we see so far Okay, now, uh, let's see, uh, where would you, you know, be likely to getting getting in maybe around this 56 area Maybe if you're a little more aggressive, you got in around this 56 and a half area And you already took some off. Okay, this is hypothetical. All right So, uh, just not trade recommendations here But uh, and now we see some more selling coming in too All right. Well, we're still looking to see if we can get that selling pressure to come back down in these lower areas here Okay, so that's it Uh, let's see viper. Um Don't want to interrupt, but when you get a chance easier To see the absorption on 30 seconds time slice Um, yeah, I mean you could um, yeah, okay, uh E.m. You're looking for coming back down to vwap. All right. So what you're looking for Now, this is where you can integrate you you like to trade vwap. You look at vwap, uh You know setups or strategies great So we have a absorption up here and we have a Uh, some buying back up above it, but it failed to get up here again And once we see the sellers come in again here at the bottom of this little edge here That's where we're looking for them to drop it and and break it. Okay, and come back down into this 54 Okay, and we're still looking for 54, uh and lower Uh, and it's not working out right now, right? We're starting to see buyers come in. Okay Now they've only traded it back up to the 56 so far Okay, so uh where it dropped from right, so Do I see a lot of buying pressure in here to trade to 57 58 and 60 not yet Not yet all it's done is retest back to 56 Okay, we're looking now. This is just a um a fractal Basically of our bigger picture here that we were looking at earlier Okay, so this is kind of very similar here. Uh, do we see more buying pressure in here? At this point. All right. Now it's looking better. They'll trade up here to 57 Okay, so uh and now you know Again, this is counter trend in the bigger picture But we're positioning ourselves for potential reversal We talked with slowdown about this last week or maybe earlier in the week That reversals are tricky. Uh, and uh, you know, it takes a while for them to kind of turn around But again, we're reading we're just looking at and reading this context between absorption And the aggressor and the price structure here. Okay, so it even failed to Trade into it the best offer went into 57, but not not one transaction They didn't even take these guys on at 57 Okay, it looked like there was enough buying pressure to trade into it. There wasn't All right, that gives us some insight All right. Now are we getting sellers back down here at the bottom of this range? Yep looks like it. All right, let's see them drop it down to 52 And a half here this this liquidity here Okay. Yeah, I like it. There's the bottom of this range in here Hey for you pullback traders Uh, well And we can even look at a fractal within this little area right in here You know, uh, and uh, yeah that I mean boy, you know, it's the same setup Uh, basically, uh, this is kind of trap volume in here. It's a stop run Here's your exhaustion here. Here's your sellers here Look for this as being your first target. I know it's not much But like you're just looking for the bottom of this range here to test first Just like you are at the bottom of this range to test here now All right, and it looks good Well, let's add our vwap in here, uh, and we can go over, um, maybe absorption and vwap Okay, so vwap going back and forth. It's right here at the figure. So that's a nice nice area here as well We also see some volume, uh, uh, kind of low volume, uh, node areas here kind of at the edge of it All right, this is getting a little more complex in here. Uh, we didn't get absorption We didn't get even the test to 52 and a half Okay, at least yet Okay, and what we're reading what we want to read in here is the absorption or at least the transactions into high liquidity And that context afterwards. So this is you know, uh, this area here It traded into but it traded through This is where we got the insight later high liquidity in here and the selling in here Okay, looking for the drop into our 54 Uh, and then the 52 and a half here Okay, now it's trading into it. All right, so let's get some insight here. Okay, so, uh All right, some of that pulled in here now. This is not as easy. It's it's a little more complex Is trading into the 52 52 and a half Okay, and then Then they pulled some of that now we see more on the bid here Okay, add just a tick lower and and then like a like a point lower a full point lower of liquidity here Okay, well, what was the reaction by the by the market aggressors in here? Well, they they kind of repelled by this now Okay, so now this context is like I said, it's a little more tricky Yeah, we can get buyers that come in and they'll maybe come back up to the top of this range here Uh, or you know, maybe up into um, yeah, just just up up into here around 55 or so uh, but um You know, we don't have, um That real real nice Absorption in here. We still do have our context You know, there's more in here and it kind of repelled the sellers. They're not attracted to it The buyers came in And uh, and they took the market back up to the top of the range This is looking more back and forth at this time now that You know, obviously we see the move back right back down here. Okay, but this is pretty typical when you don't see um When you don't see commitment in here, uh with the uh liquidity in here trading into these areas in here There can be a lot of back and forth All right, so just keep that in mind Uh in that context in here now we don't know What if the scenario was okay? Well buyers this repelled the sellers. We're finding buyers in here and let's go through a scenario. What if uh, hold on Okay, what if we came up here and then this liquidity here pulled and had added higher underneath here All right, what if we went through a scenario like that? and What did we get? We got big green dots up here Okay, then that would give us insight That we would likely come up to this area here Uh, where it dropped from uh, and maybe highs of the day and this back up into this 57 That did not transact Okay, we would look for that then Okay, we'd look for this range to be broken at this uh top of this 54 and three quarters And then back up into these areas here Again context this scenario didn't come come to uh play here. It didn't play out Okay, so uh instead we got this back and forth in here Okay Yeah, even in here like uh, it's it's kind of it's it's not quite as clear now. They're trading It's the same thing. They're trading into it here and we do see more sellers in here But they keep continue to pull a lot of that liquidity in here Okay, it's going lower But uh And they're trading into some of it and getting kind of partially filled and and that's about it Okay, now let's let's take a look at this though. This is getting interesting now High liquidity here on the offer And the buyer we found some buyers. Do we find buyers back up above it here at this bottom of the range? There's a little bit Okay, and they're bidding they're bidding here Okay, I'd like to see them bid up a little bit more and I'd like to find more buyers Okay, so let's see if we can get that there we go. Look at that Okay, so let's let's see if uh, we came we came right back down And now let's see if we can get What i'm looking for in here is the buyers back up here again Okay, because I know it auction there Okay, so if we can get buyers back up here again, then I'm looking for the move higher Okay, just buy this context in this area in here Uh in this little this little area in here this context Okay, now this is becoming more interesting. Uh, they're kind of getting filled in here kind of not Okay, uh a beautiful em right back to your um Um There's your vwap trade Wonderful Okay, now what are you gonna do though? Are you maybe maybe you're done for the day? Okay, but you would you we talked about it here no matter what you're trading Understand this area up here and you're looking for your bigger picture to move down to vwap or the figure Or your low volume node. There's three different areas or where this broke out from here There's four different areas to consider the the retracement back down here Okay for the higher time frame or medium time frame All right, so uh, there we go right and we it doesn't matter what kind of trader you are This is what you want to understand. It's up here Okay, once we understand this context in here you can look for your vwap You know back to the mean uh type of trade All right good stuff nice trade um Generally, what is the proportion of limit? Orders executed uh to market orders. Well, I mean there's got to be is one for one There has to be someone who takes the other side of the trade Okay, it's just that there can be more um Not now we're starting to talk about like what really moves the market. All right, so uh Uh Basically what this means is like well here, you know lots of sellers, but they're still more selling now watch this though I'm looking actually for right now buyers right up here And then if we can get it they should come up to the top of the range or this liquidity here at 48 and 48 and a half Okay, because we're seeing absorption all the way down now. I'm looking for buyers Okay, and uh, we're starting to find a few And now it's starting to exhaust out All right, so yeah not not ready yet. It's not ready yet Okay But i'm i'm looking for it Right now. What about down here? Okay. Well, this is getting you know more and more interesting in here. Yeah Uh, kind of partially pulled uh kind of staying in the book Uh, and then uh, let's see if we can get it again now Okay, there there's a little bit on the on the offer on the bid here Okay, one player Which about 500 contracts there Well, how does price react to this? Okay, how much more selling pressure is there compared to all of these limit? Uh, uh buy orders in here Okay, there's just there's still more selling pressure All right, so this is this is again what a book map is just excellent at um Displaying this and and going through these concepts in here and this is exactly how the market moves So your question em uh is uh Well, you know, it's always one for one. There has to be someone on the other side who takes the trade always and uh so I mean, yeah, well you might get like a gap or you know a spread Uh, but the spread is it doesn't matter Someone has to take the other side of the trade if the spread widens out here and there's only uh someone who wants to buy down here If someone hits market sell they're going to transact down here That's what's going to happen Right now these markets are pretty amazing. There's one tick wide spread Uh, so what what has to happen in here is you have to have like enough sellers in here Take all the liquidity at this price level here So it and they trade 37 or more That it drops down to the next level to this 44 and a quarter and now there's 56 orders here Our contracts, right? So now those have to all transact Right and or pull Okay, and then price can go down to the next level Okay, and then not all of these need to transact and then price can go down to the next level That's how the market moves It is the aggressor who is taking all the liquidity and then moving it to the next price level So it's always one for one Uh, it's just there might be more aggressors. Uh, then there are limit buy or sell orders And that's exactly what we're talking about in here in terms of absorption Okay Now one of the things about absorption like again like it You know, we've covered some of these Examples as bounces or you know that context Of like hitting into it and then looking for buyers on the other side Well here clearly there's just more selling pressure. So we're looking for lower areas in here. This is looking interesting Okay, we're at lows of the day here Okay back down to here Right, uh, and uh, look at the buyers lined up here Okay, so what here we go Now there's some absorption Okay, and and they're pulling so it's still not quite the clearest yet Okay, we can still go lower And now the bid now look at the bid here It's looking pretty good. They're bidding up in these areas in here. That's good That's that's a little bit more bullish. We're still in the downtrend. We still have sellers Now they just transacted into these levels here Okay, great. Now look at this here Are there is there still buying or selling pressure? No, I'm not seeing it. I'm seeing buyers now Now it's looking ready Okay Now we might have another retest back down here But it's looking ready See the flip here now look at them bid up here Okay Let's see if we can get buyers up into here this area here at 42 Okay, again, we're just reading the context in here understanding pressures uh in the market buyers versus sellers Limit or the passive orders versus the aggressive orders Now look at the context starting to change here. Look at this Okay, they were on the bid and they're still here on the bid at a higher level. That's good But look at here coming in on the offer not finding those buyers now They're kind of getting cold feet and now they're trading into this liquidity here And are they getting filled? Are they transacting are they absorbing that selling pressure kind of right and we don't like kind of Uh, we want to see like You know something really clear But we're still kind of reading the context in here We're still putting the pieces together okay, so Anyway, I hope this is helping uh guys look at look at the bid here again. Uh, let's see do sellers take them on Yeah There we go. Okay. Now are they transacting? Okay Great starting to okay great So now let's look for this little area here Above here and buyers Okay, this is a scenario to go through And we're looking for it now we're looking for buyers back up above here. Okay, and if we do We should see the move back up into maybe up here Okay, or this liquidity here Not still more selling pressure still going lower Okay, but they are still On the bid in these areas in here Okay, we're looking for the bigger players that want to you know buy at these low levels here Okay, now we were looking for that scenario here. It's going to play out right now now. We're going to get our move up into 41 Okay, so uh It had to come down one more time here Uh, and then uh come back up Okay, and retest back up in here and now we're starting to find those buyers Okay, and now we're looking for the move back up to 41 Okay, now this is kind of a spoof in here or you know, they pulled that liquidity in here And it still adds another layer of kind of complexity in here Okay, it looked pretty good and then they pulled but we're still finding buying pressure here So we're looking for that move into 41 and now look at them pull that liquidity up here Okay, what's our context now? They're pulling the liquidity here. They don't want to be sellers here. Are we still finding buyers? Yeah Okay, so let's see the buyers take this on and try it if there's more buying pressure and trade through There's our 41. Okay. Now guys, this is you know, I I hate to you know Make a call on the market. I just want to get these concepts across of understanding this context Okay, because it it just plays out. It's just it's just how the market works And the more objective We can be at reading and understanding the buyers and sellers in here The more we can anticipate a move like this up to 41. Okay, and just 41 Right, um, maybe maybe at this point m is looking for a move back to his his vwap up here right So absorption this is it's a this is such a simple easy strategy. It's it's it's it's it's pretty brilliant. Um Look for absorption away from vwap and then look for those buyers to come in and trade it back to vwap. There you go So am I did I answer all your questions? I think so and uh, let's see here. Um Yeah, we got okay over in discord Most of you guys want to look at absorption as well. So a good thing we're covering that One of my thoughts on the quotes delta column. Um, I like it. Uh, I don't really use it too much. Um You know, again, I I really want to kind of like home in on this Um context here, uh, and and really read and understand that That that helps me the most Uh, and look at my higher time, especially when you correlate that with higher timeframe levels or and or relate it with other markets Uh, I think it you know can can really lead to some great insights Another one to throw in into the mix here is the stops and icebergs. Uh, this is my favorite add-on from book map Being able to understand not only the context between the limit Orders and market orders it within the price structure But then understand the market or the order types that are transacting. I I think is just just amazing Uh, we what we see here in this context is Uh, larger players, uh With iceberg orders getting filled in this little area up in here And then in this area here as well Okay from this area on down to about here Okay, so You know, are they are they profit-taking are they positioning themselves? It really doesn't matter. We just know that these are iceberg Buying and uh Buying against selling pressure. That's what again, we don't need to know if they're adding Into the market now or if they're exiting a market We just need to know this context between buyers and sellers. That's it Okay, and then we see the stop run down here Which means basically, you know some absorb some exhaustion in in essence Um, this is a good one here. I mean right into this area here big stop run Uh, and then that that was the low here now, obviously this is in hindsight, but we were we were on this We were looking for the move to 41 Uh, it had to come back here and then I think we look yeah, we look for it in here right at this point right and then uh The scenario did play out. It didn't play out here. It played out here on the retest and then the move up to 41 Okay, a little bit higher than uh, this swing here And uh, and now now look at them here. They go right now. Now, this is that's how this can kind of turn into a reversal Uh, now it depends on your time frame again. Like, you know, have we reversed uh on on a higher time frame? No Sellers still, you know in control from this move in here And let's just zoom out some more Yeah sellers in control from this move here for the day at least so Let's see here. Um Yeah, we in here. Let's turn this into a quotes delta uh column um Yeah, the quotes delta like um For me, I never really You know, I know a lot a lot of traders love the quotes delta column. Uh, it just happens so quickly Uh, I find it hard to read Um, I know where you're coming from on this And why people like the quotes delta so much which means adding and pulling of liquidity at You know across uh, and you can see it updates. Um I don't have any reference. You know, I instead I can look at the heat map though And and understand the adding and pulling of liquidity in the heat map So that's what I like to use. There's another way of reading this as well and it's through maybe the um COB column in here add add another COB column and You know look at um Your COB column you can look at an aggregate or you can set the um depth in here if you want uh, and uh Oh, I'm sorry. I didn't want to do that not in this one Hold on in here. I will go back to a COB column and we can um We can look at an aggregate view of it. Uh, we can also set the depth Uh, and uh, you know, you can look at your kind of inside market Uh, I I like doing this every now and then Uh, and being able to understand that, um Okay, all right. So, you know, I know up here there's 841 there's 600 or 700 down here So there's a little bit more on the offer. How does the market think of this? Right, so it's kind of the same thing. Uh in terms of, um, uh, your delta I I just have an aggregate view of it though, uh, and I've limited the book here Right, so I'm looking for some sort of book and balance in here Uh, and uh, uh aggressors to kind of charge after some of those areas All right, so anyway, let's go back to a Volume All right, let's see any more questions. Good morning, jack. Hey um Excellent Got your ranges going. Um And let's see EEM um He's wondering how much the market is In the book don't understand the question But what about the absorption out on? Yeah, sure. Let's add that in, uh, actually, tony. Um We're just reading the basics in here the heat map the absorption add-on is a I love it. Uh, it's um Very very simple add-on and All it is doing here is within a very Small time frame show me where a hundred or greater or we can put in maybe 500 for the s and p Or greater transacted within this very small time frame Okay, so this this add your your your spot on tony this adds More insight into What's going on in here because look at this look at these areas up here Okay, why is there absorption here? Okay, well, there is some liquidity in here, but there's you know 1200 contracts at this one price level that traded very very quickly Okay It's a sweep of the order book No question Uh, and uh, and it's a stop run as well but Here and what is the answer? Uh, I think you you could um, you can kind of understand. Well, there's it's partially because there's liquidity here But there's another answer to that, uh, tony In fact, let's see see if we can get more insight from the next uh area here Yeah, we'll probably get more insight from this one. Yeah so, um Yeah, the the answer is here that there's there's a um an iceberg here Right here it is down here Okay, and uh, it's it's not bad. It's like, uh, you know, almost 400 Okay, so uh, they're absorbing it here. So the we have the icebergs um iceberg detector That can show you that there's absorption happening that might not be in the order book Uh, we have this absorption indicator that comes with global plus as part of it Uh, the the stops and icebergs is sold separately and can work with global or global plus that doesn't matter Um, you just need to have rhythmic and you have to trade cme group futures Uh, but uh, you know, this can give you additional insight Two areas where they're absorbing but we don't see it in the heat map All right, and that can be very very helpful Uh stops and you can align it with your stops and your icebergs or your icebergs here And start to understand. Wow. Okay. Well these sellers failed to Drive it lower All right, so in that if that is the case we can make this into a kind of a pivot line here This is where the sellers are Or the buyers are supporting it went against them But now look at this pop up above here This is where you can look for now buyers here at the top edge and for the push higher up into like maybe 44 Or 45 here Okay, based off of understanding this absorption here Okay, now if you if you were looking for something like that then Uh, I would say this would be your kind of your first take profit to be honest Uh top of the range, but I am still I would still be looking for this to go higher Okay, up into 45 here Okay, based off of Uh, what what tony was just saying there, which which was great, you know, what about the absorption indicator? Well, here we go Perfect. Uh, thanks tony Okay, and that's a nice area up in here too Uh, maybe a little shy of 45 But uh, you know, this is where it kind of dropped from here And you can see they're starting to line up in the book here a little bit too. So You know this this always Again, the context always changes in here Right, we want to understand that context in here If they're going to add more in here and start to stay in the order book and get filled in here Well, maybe we're not going to make it to 45 then All right Just just look how powerful absorption is understanding absorption there it it did it it traded into 45 Okay, now did they stay in the book here? Let's just take a quick look Yeah, they did Hey, they're trading right into it and they're staying in the order book and filling Okay, so these contracts here, which was Uh, 300 uh, transacted Okay, and there still seems to be more buying pressure Uh, m there there you go. There's your retracement again right back to vwap Okay, when we talked about that down at the bottom edge here Great stuff Trade to the vwap through it lows of the day. Uh, and then back to vwap Yeah, okay, jack. Thank you. There's um volume profile guys You know, you're looking at your value area low high whatever um Uh Then you know, then you have another uh thing to add in here again though What we're looking at doesn't matter what you're trading You know, it could be a pattern. It could be a double bottom pattern I it could be your um, uh, you know Value area low. It could be your um Initial balance low and rejection back into the mean It doesn't it doesn't matter We want to understand in here and and thanks to tony for pointing this out on the absorption indicator Which also which also is in line with a few different things here number one We have liquidity that we were reading in here They're absorbing And then we have kind of this hidden absorption here two two areas here Uh, and uh, they're icebergs as well Okay, and uh, and now look at this pop uh to the upside here And we were just looking for the mood to 45 uh to begin with Right now this is your initial, uh, this is a failure of the um Initial balance down here So there's we can cover this what's your setup? In your failure of of an initial balance or or Of a double bottom here. Okay. It's the same thing. It's just that it took place within the first hour It's actually past the initial balance uh time or this is your initial balance low So this is the retest of it and then the failure of it. So what are we looking for down here? We're looking for larger players to get their um position on with their limit buys Okay, and absorb as much as they can and they did Okay, so back into the mean Cover maybe we can get to the other side of it up here Who knows? Okay, but the uh Well in in terms of vwap yet that that has already played out but the majority of the transactions took place up here And that's what you'd be looking for if you're if you're really looking for back to A value area it is this value area here that you're looking for All right, so does it have more buying pressure to make it back up here? I don't know doesn't look too good right now Yeah, this is this is strong. This is a good move But uh in here You're starting to see some back and forth in here Yeah, exactly jack. It's the it's it's understanding the um the order flow around whatever level you're looking at and you know the one thing that Stadelmeyer and and Dalton uh talk about with the initial balance. I don't I don't even know if Dalton follows it anymore. Um That that that concept of the initial balance And I understand that like, you know, it I don't know what I think of it. Um, but uh The the the trading style. Um, it it's not my style, but I understand the concept And it can be the same as any other area on the chart What it is about for the day though is very simple The first hour of the day has the most trading And the last hour of the day. Okay, you get these volume smiles. Uh here. We'll just demo it uh in um This this and we have a five minute chart here. Let's just take a look at it I might need to look at a 15 minute Okay And add more data. I really these charts are so cumbersome. Um So let's look at a week. Okay. See the volume smile. Here's your open. Here's high volume Then as the day progresses it, uh, you know mid mid day low volume And then it starts to pick up end of the day here and there's your spike again end of the day Okay, so what were the the concept in the trading? For your initial balance is very simple. Okay is you can you can also look at the Um last hour balance, uh as being really important That's why traders look at the close and understand the close Uh, but you're looking your day trading for the day. You're looking at the most volume that traded and who Is off sides or on sides or winning or losing? That's the concept Okay, and the the first hour there's a lot of people already positioned now If where are they going to be compelled to buy or sell after their positioned? All right, so uh, let's take a look All right, uh, and uh, we we can take a look at here's 9 30 to 10 Uh 10 30 here Okay, so this area in here. In fact, we can Look right at it here and we can go very precisely Here to here Okay, uh, and then here's our profile All right, so uh, and uh, yeah, here's your point of control up in here Uh, kind of developing point of control up here. So yeah, this kind of little range then is just kind of an important area Uh, here's your low. Here's your high. That's it Right, you can look at a midpoint, you know low high midpoint. You can look at value areas You know, which would be just kind of deviations um You can look at your vwap within it. Uh, whatever But uh, it's just this first hour of volume that you're looking at Okay, so let's go back now Uh, and let's go through that concept though in a different way Let's look at a high volume area Okay, here's one right here Okay, this is the same concept. We're going to do like a miniature Uh, uh balance area Okay, so here Uh volume picked up to here That's it. Here's our range. That's what we want to look at All right, what's the what is the um Order flow around these levels now. That's what we want to determine Okay, well you can see it's holding it's holding pretty nicely, right Okay, so now are we going to break that range or not? Or are we going to is it is it fade the outside edges of this range? Just like you would your initial balance Okay, well, this is this is actually pretty good. We trade up here and here's your absorption up here pure absorption guys Good one Right trading into it here traded into it here failed to go higher Okay, here's the exhaustion here on this one look for the the mean reversion trade at that point up here Back down to well, it could be your midpoint Could be your point of control. Uh, it could be the uh, uh low here It could be high liquidity I would target the high liquidity and market structure This this little area looks good or the um, uh, where it originated from here Or this liquidity in here looks good to me those kind of three areas So what it did was it just came back down into here and uh, it totally exhausted out here three times Buyers come back in and move it to the top of the range Okay, so there's some buying pressure in here a little bit Uh, so, uh, let's let's see what what unfolds now So this we're going to play the initial we're going to play the balance of this high volume area here Same idea same concepts Okay, and it's really choppy We're not getting too much out of it right now Uh, they did sell down here, but uh, it traded right back up here Let's zoom in let's take a look Okay, so Still selling Okay, all right. We got something here. All right. So let's look at this here All right, so we've got some sellers on the hook down here and here Okay, we need buyers here if that scenario unfolds in here likely we will break the balance or the um, uh Balance area that we outlined of the high volume area there and we'll trade back up into 49 and a quarter or 50 Okay, so now we're going through that scenario in here. We're looking for people who got it wrong in here Uh, and then buyers back up here Okay, and we got a little bit not a whole lot though yet. Okay, we might get it on a retest here Let's see nothing Boy, it's pretty dismal All right. It's a small little area in here All right now if we get sellers on the bottom edge here. Well, yeah, they're they're breaking it here, but uh It's the same idea that now these guys got it wrong up here We were looking for going with these guys Right and taking it higher. Well, they're going to be getting stopped out now down in these areas here So these sellers hung on in there and they did not get stopped out And uh, we and we see the move lower here Okay Well, what about down at this bottom edge here? Okay, did they absorb not really now? We're getting some buyers all right Yeah, I don't I don't really like it, but the now we're looking to see if these guys got it wrong here We're looking for buyers up here and to move back to the high that we originally were kind of looking for Earlier and then a break Okay, so there's a little bit of a bounce here. Let's see if we can get more buyers back up here at 47 Okay, even a smaller one here. Let's see if we can get buyers here at 46 and a quarter Yeah, all right. Come on buyers should be able to inch it back up to 47 This I mean look this is not high probability in here Uh, but we're just going through this concept of like, uh, who's off sides Here we go. This is looking a little bit better now. Let's get a little bit more buying here Now now it looks like the buyers are kind of off sides a bit still Right. Do you understand the concepts? Uh, here we're at the bottom edge here Okay of this high volume, uh, move here Right now we're looking to see in the order flow here. We're looking for absorption Basically is what we're looking for now. We just got it here. Okay, great. All right. So now We're looking to see this context again I still like it on the buy side there now. They're pulling and we're getting our buyers here. Okay buyers Let's see you move it back up to the top of the range here Okay, just up here Okay for starters Okay, we got our absorption Now we're looking for them to pull away There they go. Okay top of the range Okay, now this is pretty good. It's down to the bottom of the bigger, uh, Value area here or you know Edge of this high volume area here So kind of looking for a bigger move here back up to 40 here or 48. I'm sorry 48 and a half Okay, because we're looking for it in here. We saw something a few times now. We're getting it Okay, so uh, in fact, we could even Uh, not only get it to back up to here. We can get our break at this point And there we go. All right 48 and a half. They're still pulling here So, you know, it can still go higher go up to 50 Okay, guys same concept as your initial balance right here Okay, here's your here's your failure. Here's the move back up and we have the potential now to to break Here and go with a bigger trend. In fact Asgard looks like sell sell sell. Um, yeah, I don't know where you're selling but Um, maybe maybe down into these areas here, which is good You love Friday's sleep in tomorrow All right. Well, we got enough we all we've gotten is top edge here and to pull back to Where it broke from? Okay here Uh, it it uh, yeah. Well, you also have your vwap up here m So, uh, yeah, there's your vwap again Uh, and it does align here with the top uh of the range here a few a few different hits up here Right, so I don't know. I don't put that kind of magic into the the vwap that that um vwap traders do But um Hey, what it does not matter. Uh, you know, if it's a moving average crossover Uh and mac d as long as you know, you have faith in it. You've back tested it. You've studied it Uh, and you know how to trade it and and manage your risk around it and it's profitable It does not matter Okay, asgar. All right. Well, yeah, we've been kind of zoomed in here looking at this small example here, uh of uh, um You know just high high volume for high volume area here And how to understand this here very much like the open Right like high volume and open and and then that kind of sets the tone in here So you're looking at kind of edges, you know And uh, what's what's the order flow around these edges? In here and just so happens to line with uh vwap as well Uh big guy selling. Okay. Well, um, maybe I I mean what we've been covering in this webinar has been um absorption Uh and understanding, uh, maybe bigger players in terms of absorption Uh and what we've seen so far has been absorption on the bid to be honest Okay, I have not seen much on the offer Uh We have not seen much on the offer Look, let's jump over to nasdaq. You're saying you look at nasdaq nasdaq looks better for sure. Look at look at the these high areas, um Of liquidity here In this case here still more buying pressure be able to trade through it Trade it into it absorbed it here, but they traded through it here They traded through this one and then now this one's completely absorbed up here So this one looks really good Right, uh traded into this one up here and and failed to get higher I'm sorry. It did there's still a little bit more above it But uh, even even with this here with this we covered this scenario here with the s and p So it was kind of equal to it Traded into it here. This is what we want to look at now. It traded above it But is it sustainable kind of accept? And You know, this is where you can look for your trap volume up in here Uh, and then you start to look for it. This is this is kind of nice in here There's one thing that's miss missing in here that would have been nicer to see And that would have been uh in this kind of uh retest here. We do see buying here Lack of buying here. So we have our exhaustion. That's good One thing that would have been nice to see in here would have been Big red dots and selling down here already Okay, uh, even down in here, uh as well So if we if we got this kind of scenario in here, it's it's really starting to tell you You do see some of the red dots in here We do get the retest there There's lower liquidity down in these areas here on the offer. They are transacting in here Uh, and then we get more sellers here. So this looks really good for at least coming down back down into these lower areas And then it really sold off Okay, when it zipped right through it Um, but uh, so yeah, we do have that on the on the nasdaq Well, I don't know. I haven't we haven't looked at some of these lower areas in here in terms of absorption on the nasdaq I would look at the same thing. We're just looking at the s and p I'd I'd be looking at the this kind of zone in here of of high volume And uh, kind of what's the order flow around here? Yeah, you might even you might even say it's high volume. Let's just take a look here. It's pretty It's pretty high volume all the way through. Um Maybe maybe it's better in here. I don't know There's maybe a couple a couple different zones in here then let's take a look at Okay, now now let's just look at the order flow around those levels Or the transactions and the order book around those levels Okay, guys any questions on this? Uh, if you like this, please hit the like button. Uh, and uh We asked, uh, you know the theme here what you what you wanted to um, what you wanted us to cover absorption correlations or uh uh price action And uh, all of you, uh hit the absorption All right, so I let's let's take a look at this here. This looks pretty good For trading right back up to 70 here Now these guys did absorb All right, so we got to watch this here Be careful with this Do we still see buying pressure above this here at 65? Not yet So there's your absorption Now do we get sellers down here? Not yet either So not not too much to read out of this yet I would there's there's some exhaustion and a lower high and then there's some selling here Okay, I need to see the retest here with some selling then it would look good And we're not getting that scenario. We're getting the opposite buying up here and then the uh potential extension All right, here we go. So this is a false looks like a false breakout. Did we get our sellers here though? No Let's see if we get them again on a retest. No Right. No not getting them There's some buying now. Do we still get buying pressure above here? If we do right up here, I'm looking for 68 and 70 now. Yep. I'm looking for it There we go All right. Now that happened quickly But we you know, we we went through you know absorption And then what happened around that area? And then we we said lower uh lower high Um starting to see sellers here starting to look pretty good retest no selling Buyers come in Uh, we get our retest back in here. Do we get our buyers back in again? We zoomed into this area here. They traded into it We're still getting buying pressure above it. Saw it again here. We're looking for the move Right Okay, now, you know, it's a short very short play Uh Now, did they absorb up here? Let's let's answer that question on this NASDAQ Yeah, absolutely. Look at this Okay, there's some there's some And there's some Whereas our exhaustion whereas our sellers Okay, they trade into these guys, but there's still more selling pressure So there there's you they're looking looking a lot better now ask are I like it? Uh, I like your idea So it it's selling up here. Um or absorb Absorption up here. We're already down to the bottom of this little level in here That would be that would be my first take profit into this liquidity down here And now let's see if we can get another leg down into maybe here around 45 or so 50 45 something like that Yeah So, uh, yeah, we've got uh this it can't get above this level up here around 70 Right, so yeah, we're looking for our aggressive sellers now to try to move the market away from that area Okay, s and p following suit Uh looking pretty good. Also for now our little high volume area here and this would be like Equivalent to your initial balance break if it can do it. It's kind of still in a battle here Uh, I don't see any absorption yet on this s and p Um, this is nice up here at the top top edge or you know top of the range Uh, not much more in here I mean they're just down here, so at 43 and and uh 44 a little bit They pulled here as you guys can see so It's now it's just kind of back to being a little choppy here Anyway guys, let's wrap it up. Thanks for coming everybody hit the like button. Uh, we would really appreciate that Uh, we want to bring you, uh, high quality education So you can use some of these concepts, uh looking at your edges here in book map And and put these pieces together in the education All right, so You know, that's what we're here for And uh, we have other streamers all day long in here You can go watch their streams and Like tom b is uh looking at his he's going to be you know looking at his initial balance. He's a volume profile trader This is one of his things he looks at All right, so we we covered it, uh as well Tony saw some of the absorption indicator in here That helped us understand this move back up into uh kind of mean This is turned into the point of control or developing point of control in here right around the vwap and we also saw that went through the concept of what Like initial balance is and looking at this high volume in here And then looking at our absorption again in these areas in here to give us insight to where price might go Uh, and then we jumped over to this nasdaq to to check out some of that as well Okay, same concepts over here in the nasdaq And it basically works on on every market All right, so Yeah, thanks. Thanks viper, uh, let's see um any other last minute questions here To subscribe to book map through thinkorswim Um, yeah, they don't have the kind of studies like this that we have um So like absorption or stops in icebergs, etc They do have cvd. They have the heat map. They have the volume dots And I think the drawing tools they have as well. So you can you can still do a lot of what we are doing in here The kind of additional insight With these add-ons though is is really nice And in book map This this adds value. Uh, no no question, you know under understanding this absorption or these icebergs in here After a stop run Uh at at the bottom edge After the first hour of trading And then the the failure here, uh, and then looking for that move back in Uh Yeah, all right abby you're looking over at binance. You can see yourself adding and pulling liquidy it Yeah, yeah, exactly. Um, the cryptocurrencies are a little, um, they trade differently Um, I mean all markets, you know, kind of trade the same I mean, here's your, you know high liquidity up here Uh and here and there's your absorption here same concepts Okay, so uh failure to get through here And then we're still looking though to see if there's more buying pressure in here And then it's basically, you know, uh Some exhaustion here here here it is again. I mean same concepts um Traded into it it started to exhaust out in here Uh traded into it traded into it exhaust it out now We're looking for sellers on here and lower highs. We get the lower high. We're getting sellers down here now And we're looking for sellers to push through and they do and And then we're looking for, you know liquidity on the on the bid basically Okay, another structural areas in here Uh, we have a great crypto trader, uh, john slasas. He's on tuesdays at 1 p.m Uh, so you might want to go and check that out. Uh, it's great stuff. Uh, he's He was a long time futures trader who's trading crypto You're not going to find that very often So, uh, uh, yeah, I would recommend that you check that out So that you can really start to understand your Your crypto currencies from maybe a different viewpoint And and market structure is so critical, right? We've been talking about market structure and absorption this this entire webinar Okay, so at our levels of structural structural levels, we're looking for these limit Uh orders getting filled and keeping price from going through their levels All right guys, uh, thanks so much. Um, and, um We'll catch up with you, uh on monday. Have a great weekend