 YouTube is starting. Good morning everybody. It's eight o'clock. Welcome to non-farm payrolls Friday. Friday the 3rd of November 2023. We're on a drive up to settlement but anyway let's do the disclaimers and I hope everybody is well. All book mat limited materials, information and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Trading futures, equities and digital currencies involve substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. Okay with that being done that's the screens are right now so we've had about 29 minutes until the non-farm payrolls and essentially since just after 7 a.m. Eastern in the US there's been a drive up so we're driving back up towards yesterday's settlement and we have this resting iceberg here in ES that I pointed out in the room that's taken a long time to play out. Anyway they're just positioning themselves for non-farm payrolls so it sounds like or seems like they don't want any change from where the market closed yesterday so it would be interesting to see if we go up above that before 8.30 and for today I have endeavoured to make sure that the financial juice stream is fed through the audio so that it should be audible on both Discord and YouTube. I'm actually listening to it now at a very low volume in my headphones. Right okay that said let's quickly go on to the slideshow so we can do some prep. I'm just going to use the trading view calendar going forward and just focus on the important category the red category items just so that it's just easier to show so for our hour we've got the non-farm payrolls and at 10 o'clock you've got the ISM PMI and yeah this is something I might touch on later it's the earnings calendar it's it's hidden inside the trading view website it's totally free but on a week like this where Apple amongst others have had their earnings it's a page worth checking out so you can you can do the sort by market cap and you can have this week and next week so you can see what's coming up so next week for example we've got Berkshire Hathaway so that's the biggest earnings release next week okay moving along let's have a look so what we were talking about the other day was there was a break of this reverse trend line that joins the lows and that is normally very very bullish and on this occasion it has acted out that way and we've had a very very good bounce and we are supposedly on our way towards this towards a high where yeah we could easily get to that 50 day moving average the even the 4400s it depends on many many factors none of which we can forecast or predict moving along to NQ yeah there was no reverse trend line points out the other day it's invalid because it was not steeper than the the actual down trend line but we've had a very very good bounce and you can see that and moving on to the 10 minutes just to work out where we are in ETH shaded in grey and basically for ES we're hovering in the top quartile of yesterday's range so it's remained very very bullish I'm right now as you as you're no doubt aware we are quite close to settlement and Q again I think we're actually further up than when I took the screenshot a little while ago no actually we're right about there about the 964 mark so again well above the yesterday's mid and yesterday's rth low that's not the overall glowbacks low that's yesterday's rth low but again very very bullish okay and let's just get those back on let's just drag along a couple of things so let's let's go through the tpo here because I did talk about that the other day by the way if anybody's got any questions I always forget let me just get rid of that it's just some time and sales it doesn't really matter but let's try they're going to be visible so just temporarily we can ignore them just some time and sales that I like to have in a small format it's because I've dragged this chart over from Sierra they have come to the top of the screen anyway we want to remind ourselves that we took out one of those virgin points of control and it's actually quite a long way up to the next one but anything is possible today and if we look at the the value range that I thought I basically drew it from yesterday's high down to this lvn and we're in that top half of that value area the reason why I actually wanted to drag this chart along is not necessary to talk about the tpo and this estimated value range for our eth that I always talk about one of the things that I talk about are statistics and if I just drag over that those statistics so one of the things that I do talk about in the statistics is the relative volume what I don't often show you is the chart behind it and I thought I'd show it today because it was actually useful to help with identifying the potential chop that we got for the first two three hours of the London Open so if I you can see there are lots and lots of charts that feed some of my statistics I don't actually look at them they're just there for the statistics I do look at this one occasionally I just move it a bit further over so we can see it all and again I've shaded in grey the eth and if I just zoom in the relative volume is actually the area that's under the purple line here I've just got it as a transparent purple and all I'm really trying to show here is that after the Japan Open we've basically been trending down in relative volume all day and again that continued right into the London Open is only after the London Open that it began to slowly tick up so when you see that and you know if you have your time in sales or whatever else it is and you can't really see the big players playing it's not an it's not overly a surprise that we chop around as we did for two to three hours you know it was it was quite a horrible session I don't know if anybody traded here but it yeah it was quite unpleasant I think I've only had one trade all day and that was in the Asian session okay and just looking across at the NQ TPO again I basically covered the entirety of yesterday's range and some and yeah it's mostly irrelevant as I said the other day when the ranges are this big it doesn't have a lot of edge in providing you good turning points it was just so wide it just basically indicates to you if you do use this kind of thing that we can have large swings unfortunately today because the big players were not there and they were probably saving their muster until the NFP release in a few minutes and we got a lot of chop until that derive at the breakfast opening at 7 a.m. Eastern when we went up and now if we just switch across to to the two markets let's have a look and see where we are so we've got 20 minutes so we've got some time to actually have a good look at what's been going on and we can even talk about some of that chop in London yeah so you can see for example with this resting iceberg which is still there and has been there it's it has moved a couple of price levels but it was placed at 241 before the London Open the London Open is at 3 a.m. Eastern and so effectively it's been there for five and a half hours or nearly five and a half hours already and if we zoom out and we make the map as dark as we can make it you can see that they they've used the resting liquidity in ES which is definitely better than the NQ resting liquidity at the moment with those dreadful Algor bands but they've used it really to push down to push price down to this resting liquidity at 4 3 2 5 sorry the font is very slow very small and I apologize actually for that one so let me just I forgot now I am on these webinars I have a much bigger font so that's me forgetting to reset it but you can see me do it live so you'll see what I did yeah if you're projecting to anyone and they're on a on a high resolution screen it does help as I do remind myself to make sure that the the numbers are legible and again I apologize for that but yes they're using that resting liquidity to push price down to this this zone here which where it looks like they were absorbing they're absorbing sellers to drive them back higher towards that resting iceberg and settlement which is up above there somewhere fact settlement is at 4 3 3 5 75 so really just above here just around about there if I dig out the pen and yeah it's really around about there but I have to get rid of that because it will get in the way if we leave it there so yeah the point of that is that once again in eth if you can find meaningful resting liquidity and we're talking about large liquidity it can really really be useful especially when you've got one of these awful chop days hey Tom welcome I'm actually gonna use the financial juice feed and we'll have that live in the room at 8 25 Tom so I hope you can hear it they are my friends I don't imagine they will mind okay and what's quite interesting over here in NQ is that we've got all these sell icebergs what that can mean at some of the time is that they're absorbing buyers for a push down but on this occasion I have a feeling it's hedging their bets um so you know it would not surprise me if we didn't go up another hundred points but who knows maybe they're taking profits from a drive from a couple of days ago it is impossible to know exactly why they put these in place one thing I have put on the charts today and I've done it for a reason is I've got the sub panel for the mbo stops and icebergs and the reason I've got that sub panel visible today is because I have my stops and icebergs filtered by quite a large amount so that so you wouldn't be able to see these icebergs here oh sorry you you might not be able to see the stops here so let's have a look yeah there's a small stop level there for example and because of my my filter level is quite high you can't see that there were any mbo stops there so I just thought it might be interesting during the course of this webinar especially with non-farm payrolls to see how that sub panel may actually help us in determining you know when stops are being here or when they are absorbing people but we shall see you can never predict whether something is going to be really useful or not okay I'm just looking across at other levels that that could be of import today so one thing I didn't really point out on this TPO here was that that is actually on the TPO itself a poor TPO it's not I wouldn't say it's a poor volume profile high but it's a poor TPO in that you've got price at two price ranges and the price ranges are in 30 minute increments and it's spent two there so that according to this particular setup of the TPO counts as poor and normally it has a reasonably reliable statistic that it does take get taken out in the rth session the following rth session so we shall see whether it does today or not and yeah just remind ourselves as we've got time still what time is 815 of these naked volume points of control there's two in particular that could play out during this news release or early in the rth session so you've got the one there at 4 370 50 and there's another one there at 439 450 but what is important to note maybe I'll just make this a bit bigger and I will draw on it is that you've got this big big value range up above so once we get into that those of you that the love volume profile will know that there is one statistic once you get back into volume area to traverse the entire value area so in other words if we manage to get back it up into here then there's a potential to go all the way up to the other side again so it'll be interesting to see if that does play out in the next few days I don't tend to trade swings that large in futures as I've said before I tend to prefer to play them in either ETFs individual stocks or in vertical spreads in options let me just get rid of that again now we'll just get rid of those time and sales for you so I'm not blocking the book map thing yeah so if you're wondering why I do have those kind of time and sales on this chart it's this is not the monitor that I use for book map ordinarily ordinarily book map is on a much much bigger screen so I have odd things which change from week to week on this on this chart on this monitor rather so it's interesting to know again that they are holding these sell icebergs and what we want to see here as I've said before is the delta tail so is there going to be a huge green delta tail and if we do have a spike up can we get back to the other side of that delta tail and then you know there's a potential short on it in that situation but but because we have a major major news release and you know we've had quite a few this week but this is the biggie of the entire week yeah it's one of those where I think they're probably just hedging their bets let's have a look in NQ as well let's zoom out vertically and horizontally so we can get a good idea if there's anything hiding away so we've got this round number liquidity at 15,000 and if you know where we are in NQ we're at 14961 and you know when you get as close as that to a great big round number and thousands are huge round numbers 14,000 15,000 and I think the the high is just over 16,000 that's the all-time high somewhere around that once you get close to it again there is another statistic floating around or a probability that we're going to get very very close to it I think if you actually measure to you know if we get to within two to three points the statistic is more meaningful than if you measured whether we get exactly to the thousand level but yeah it's one of those ones where it's also really hard to put that into a spreadsheet it's one that is better to eyeball yourself and just note I just find that that might be easy especially with the amount of data that's involved all right now 818 I'm just going to check across to see if there are any questions not many not that many people watching today on on YouTube but that's okay it's the end of the week I'm actually looking forward to next Tuesdays because I always talk about the about what happens at the London Open but I've never actually I don't think I've actually done one where we we do the preparation live so we'll we'll take into account what happens that day Tuesday and let's hope it's an active day at the German Open and you know do some live prep and really really stalk trades and hopefully we're not going to get the crazy level of volatility that we're likely to get tonight you know this kind of thing you know if you did place a bet before the non-farm payrolls release you've just got to cross your fingers that your stop isn't going to get slipped by too much if you are wrong and that's a I won't say that I've never traded these releases I've traded them from time to time but it's one way you have to realize that even if you're right they may well be a fake out move first and it may well well go through your stops and then go in your favor by 100 points or so in NQ or by 30 or 40 points in ES so there is a lot of danger involved yeah judging by what we saw the other day as well with this resting iceberg just above the market going into these releases I'd say the statistical likelihood if that if that resting iceberg stays put the statistical likelihood is that it will get taken out either way that's you know even if the market ends up going down it's likely that they would take that out first so let's just watch and see if that does play out again I cannot predict the future I don't predict the future I'm just saying that it is likely because it has been there all for the last five and nearly six hours by the time the non-farm payrolls comes out so let's also have a look since some of the some of NQ at this stage because ES is basically grinding some of NQ is probably more tradable in terms of you know playing for that so if you look over here it looks like we have had maybe a one tick spring just over here but there's no really really good triggers in that you've got a small delta tail you've got some targets up above to play for but the problem that I think most people are going to find including me is that you know if you if you went for this trade here and say you're going for this spring if there is a spring or a double bottom you know where are you wrong you know I'd say judging on the level of volatility that we've had even in eth for the last couple of weeks I'd say the minimum stop range that I would have been looking at in eth has been six points maybe fractionally less in Asia but not in Europe so so you know where you've got something like that I mean I have my the same dollar value risk on every single trade but it the number of contracts is calculated on the risk size but the most important part of this is sticking to your stops once you've set them and the hardest thing there is where you've got a nebulous stop is to remind yourself of that that you know that if it did go down six points and you've taken that trade as a spring or whatever you take your stops and you walk away and you don't become attached but it's just it's part of the difficulty of something like that where it's it's not clear because there's no trigger I'd say there was no real trigger there in terms of taking that so um yeah it's just by the by looking at springs as we wait for the news release I'm going to turn on the feed now so that people should hear it and I'll just get people to check that they can hear it Marius if you can confirm you can hear that on discord that would be great I'm pretty sure certain YouTube will be able to hear that the only problems I've had recently are with discord time is it now just not nine minutes so maybe I actually should turn it off I should turn it on again in about three minutes they just started rattling on or rattling on so um anyway if anybody could hear that and they want to confirm that they can hear that that would be great but I'll just turn it off for the time being okay that's yeah this is pointing Marius yeah um because I did make a hundred percent certain the the right audio input feed which includes that um that browser where financial juices was getting fed into both anyway I'll re-watch a little bit of this on YouTube later and see whether the YouTube was definitely working or not and let's have a look at es in terms of if we've got this if you've got this resting liquidity that we'd we'd pointed out and we'd made a calculated bet that that was going to get taken out at some point in this 830 release you know and you'd missed the 730 drive up you know what is the best way you could get into this one because there's no there's no easy tail here there's no easy little spring so it's a really you know it's really quite a tough decision but again I think it's it's all going to be based on the r ratio that's the r multiple that you are comfortable with on on the basis of what a typical stop in this environment is you know is it something where you'd go for three points as a stop or two and a half points or two points um if you if you went for the four points of stop it's it really is cutting into your r multiples that you can go and remember the the wider the stop the harder it is to achieve those r multiples so you know the way I do it is that it doesn't really matter to me whether my stop is four points or three points or two points it is the same dollars that are being risked I'm aware that you know it's more likely that they're going to take out a two point stop than a three point stop but it depends on the trigger as well so in other words I'm just saying that I like my tighter stops because it gives me the chance to get into those r multiples and you know win rate becomes less important if you're hitting your two or three rs on a few trades so is it now we're coming on to 824 it's just we are we're in the some pre-game mentality at the moment so looking across at both NQ and ES let's see how far we are from settlement on NQ we are 26 points below and on ES we are only about three points away and importantly let's get rid of that and remind ourselves again what is above the slightly worrying thing for people hoping for a really big bull run is that there is nothing above and that you've got these liquidity levels below in ES and some of them when we scroll back have been there quite a few hours so that's the beginning of the Asian session here it is the entire Asian session 1800 they've been there for nearly the entire session I mean effectively they've this one there that one there and that one there have been there for the entire session since the Japan Open and that's quite a long time so you know does that mean that they'll get hit we will have a look and looks like that iceberg has finally been removed so they got people to get up to it as much as possible so we'll have to see now whether they absorbed a few people it's interesting that they they took it off a good few minutes before not at 828 or 829 but the resting liquidity is still there and that has not really abated it's still 155 so if we look at the the actual numbers in the order book so you've got 155, 156 there you've got 178 there you've got a much bigger number 4225 you've got 222 and then we've got this big big number 424, 431, 6 the reason why we're going through these is to really look at the difference in size and you know it does something really stand out that's been there all day and I think that one had been there all day yes it has and then put your marker in your notebook it's one of those things you don't expect them to go there in a straight line expect it to go as bullish as it can possibly be and then suddenly it will go towards that you know it's it's a thing if you play for it all day long you'll miss out on some great longs you know if you in other words if you play for it all day long to go short towards that 4316 level you'd you'd miss out on a lot of really good shorts like this drive up at seven o'clock towards the um the resting iceberg and settlement up there okay I'm going to turn that feedback on okay so we've now taken out where that resting iceberg was and they've added a new iceberg there and you can see that through here so you can see the iceberg level of 51 in this zone what time are we at so we've got two and a half minutes I just want to see that 4316 level holding or not yeah they've actually nice banding around here that that is quite interesting again you cannot predict the future so when you see me scrolling down and having a look and having to think about whether they're likely to hear that it is just an idea um that I might have if a short setup appear appeared to it to me after the release of this 830 news again I'm not trading this session because I'm talking you know webinars so I'm I'm not going to try and trade so my trading my live trading engine is not on at the moment and remember I also I consider these resting liquidities in ES to be of much higher value than the ones in NQ especially lately because of all those volatility bands that have been appearing I'm going to turn up my own financial juice feed in my headphones so you're getting some of this pre activity so we've had a couple of spikes up that are reversed and again that's interesting as well I mean if you go back to yesterday's European action what you will see on the drive up was that every time they had any little spike down it got bought back immediately so it was just like bounce like a V bounce on these all these micro lows in the European session all right um and what we had just then was not quite that so I'm not overly bullish going into this one has to be said but again the idea is not to be right or wrong the idea is to capitalize when you get multiple R setups so we've got 25 seconds left might need to zoom out a little bit and have a look again to see what's being left there so they've taken away everything except this at 17 and 14 I'm hoping my feed is not going to lag NQ's got a lot more volatility so far and up we go there we go and we're driving up so that is why we say it is not a game of being right or wrong so so far we've had a very very good run up what do we do at this point we get our drawing tool out and we do a horizontal line effectively it's hard to say but basically around about there maybe I was wrong maybe it's actually up there maybe it's around about settlement but anyway it doesn't really matter let's just watch what happens see if we're going to keep grinding up and as we said about NQ when you get that close to a thousand a round number quite often they go they go and tag it this occasion they've gone through quite well so they're already at 40 above it so since the release the release has changed the picture so the action is quite bullish since the release now he's got the by icebergs underneath and we've got some liquidity that's appearing up above so so far things are quite bullish probably need to move that add another one actually let's just add another horizontal line because I think the scene of the crime was more about this level here just drag across what that says well I reckon the font will be too small but you might be able to read that one that the non-farm payrolls is 150 against a forecast of 180 but what is not important is what the actual numbers are usually because we are not trading economics we're trading the market and the market's reaction to those numbers as a reminder of what I said about trend days and major market releases in the 830 time slot or the 815 time slot is that quite often the extreme of the session if it's a trend update the low and if it's a trend down day the high are made within 15 minutes of that release so what I'm really looking for is will there be a down move and where will it go to if there is a down move because so far we've grinding grinding up and up and up I'm looking across again at that naked volume point of control sorry that's me on my tpo and we're getting reasonably close we're only 15 points below it so this is the first down move we've seen in nq got a lovely thick liquidity zone just there that they're coming into I have to see if it holds or they go through with volume that's what I'm interested in so I'm expecting it to tag this it's gone through it's bounced I was watching the nq one because the liquidity they provided there was easier to read than anything that they really provided in ES so they went through it they collected more shorts and then they had a violent move up I may actually just have a look at just having a look at the the dollar correlations as well I'm just seeing the the euro dollar the euro euro against the US dollar that has spiked upwards oil has spiked upwards uvxy has spiked downwards so everything is very very bullish at the moment it's all consistent with each other and nq is at highs of the day and ES has just made a high of the day one thing I'm a little bit suspicious about is that there was no fake out type move whatsoever there and there was no return to the scene of the crime if there is no return to the scene of the crime at this point it's you know it's one of those things where you can research yourself you know when or if that scene of the crime is later hit so again if we look at nq you can see a lot of icebergs on this rundown we're back at this liquidity zone and the news really did come in around about there the 830 so if we draw a line on the nq one we get it approximately around about there I don't think that's exactly right it's just an approximate line it's hard to get it exact when you're doing a webinar at the same time you can see those sell icebergs building up through this subpanel so it's providing some utility in that respect but you could also see them on the m chart itself and on the ES you've got both buy and sell icebergs they're trapping it in this zone working at the end 15 minute period as well so if we are currently at 836 837 we still got plenty of time to make that extreme if we are into another trend day we've already had one trend day this week if you look back on statistics of trend days versus distribution type days you know choppy normal kind of days um the oldest statistics were that that only 20 percent of days were trend days but certainly during that great run-up in 21 22 there are an awful lot of trend days so the statistics have changed somewhat to say that trend days have increased in terms of overall percentage of day types on the ES and nq so this is interesting here in ES so we're trapping in a zone so we'll look over here at the volume profile and begin to just zoom out and see what happens when we break out of this zone and we've got this liquidity they're advertising there as even though it's a round number as something worth tagging because it's in the 250 range and we have an overnight high now made in ES at 57 that's 4357 and in nq at 15064 and I'm also watching what's going down in terms of the size of the trades in ES I've got some volume dots on here at the main it's not very very easy to see that's one of the reasons why I have that time in sales as a reference I think you know probably quite a few viewers do use some form of time in sales I'm not one of those people that like staring at time in sales I just like having them as a reference so I can scroll to and just double check that the size of the trade that I thought had a hit did in fact hit it's quite interesting over here in nq to see all these icebergs you don't normally see this many icebergs in a little patch on a big upswing so so immediately you think they you know the likelihood is they are absorbing some buyers for a push down so we shall have to see because it's been so bullish across the board and I can't see anything in the correlated markets showing any signs of that abating yet either looking at the the Dow has come down a fraction off its high the RTY is coming off a fraction as well just seeing if there's an obvious leader in the four markets you know it's one of those things as well I don't have the Dow and RTY futures displayed in book map because I don't actually use them in book map but it does not mean I don't watch what they're doing quite often you know when the market's been on a tear for a few days one of the first signs that that tear might be turning around is if there is disparity between those four indices in the words they're all over the place you know they're not all going up and they're not all going down there's significant divergence between a couple of them you know one's going up quite a bit and the other one's going down quite a bit and that's one of the reasons why I like watching them I also find RTY to be an intriguing intriguing market that I I only trade very rarely tapish just this is a question of the time and sales tapish um first and foremost I'm an ETH trader I trade the first two maximum three hours of the US RTH session so yes I have to change that time and sales block size filter between ETH and RTH because the one the ones in ETH just aren't going to be appropriate in RTH especially in ES. NQ is a very thin market so you could get away with not changing your filter too much but not in ES so in ES I want to see things appear on that time and sales in ETH so at the moment I've got a filter like 20 in ETH but when we get to RTH I'm not interested in seeing those trades I'm only interested in seeing things really basically around the 100 up I hope that answers your question I've got a question in YouTube as well the numbers on the right um Carl Jones just asked a question read the screen on the right so you're talking about the ES bookmap screen are the numbers stop losses no they're not oh you mean on the right of the sub panel sorry I'm having to put words in your mouth I think that's what you mean um no I mean if we look at these numbers here um they will be the net over a certain period uh of the icebergs and so if it's minus there'll be more icebergs underneath the zero line which suggests they're by icebergs um and um it and if they're above then it sell icebergs and the stops again just over a set number of minutes or seconds it's just the total number of MBO stop orders just because it's an MBO stop order does not necessarily mean it's a stop run an MBO stop order is just an order that is placed by way of a stop so you know for example you know if you're trading a thin market you might get in to a trade by a buy stop as well as you know be triggered on on on your exits by a buy stop um for all my for all my exits I always use proper stops not stop limits you know so market stops um and actually if I am entering I do buy a variety of different orders so if it's an ES I'll try and get um an equal number of limits as I do market orders um because you know sometimes you can so sometimes it just it just has this habit of coming back so you can get in by limit order in NQ most of my entries are market orders but occasionally I do get in by a buy stop above them above a market or a sell stop below the market if I'm looking for something in particular because it moves like grease lightning and you know provided you've got your stop set and you're in a zone where you wanted to transact you have to accept you're going to slip in NQ anyway so quite often it does not matter and you know if you're trying to get a limit order in NQ all the time good luck or you're trying to fade it and it can go a lot further than you think it can okay so in NQ we've got this bounding I'm trying to work out if there's yeah this is still the algos I always forget for a second you know when I look away from NQ that um that we are in this horrible December algo contract you know where you've got these um algos above and below where you cannot treat those as as meaningful liquidity they're just the the market may because above and below so you have to ignore them you can't filter them out on this heat map so you you just have to not pay too much attention to them looks like we're going to continue to be quite bullish pre-market so that if there is any kind of downside movement it's going to be in the rth given the fact that we've now crossed the 15 minutes since the news release so essentially if you looked at a three-minute shot I'm going to drag one across as well I'm going to drag my old and my old trading view chart across drag it over there and you can see that um both NQ and ES shot up and they are forming a range at the top right that can go both ways but you know once you you get a range on a big big swing the likelihood is it's going to continue it doesn't mean that it's going to work 100 percent just the likelihood the likelihood could be somewhere near 50 percent it's definitely not a 90 percent or even an 80 percent on that one yep so they are exploring onwards here so we look up above in ES and we've now got some liquidity of good size at four three six zero ah sorry Carl I wasn't looking in YouTube I was paying attention to this resting liquidity up here let me just read your other two questions the dotted lines the screen on the right the dotted lines you don't mean the sub panel because I'm trying to see what you meant by the dotted lines there are you talking about the vertical dotted lines I get you um no those are icebergs actually um so if we go into the settings for this and again I apologize for the font spring so small and you go down to um just looking for the iceberg settings so I haven't changed them so long iceberg visual settings and then you go down to the down to this section of them you can basically um set what you want by way of colors but I'm pretty sure that you can't actually change it between a line or a dotted line I think they are dotted line by default but those are all the settings that I've got in there so you can just see that the filter I've got is an aggregated filter of 50 and an individual filter of 5 but if you've got the sub panel on the filter doesn't matter as much because you're going to see every single one of those in other words the sub panel is not filtered okay so I wasn't paying attention to NQ so we've got this thick liquidity band which was not the algo band um you can see that because the algo bands have been moving they move constantly with price this one was stable and it was placed at 835 so we got right up to it actually it has a wall resistance and we we came off it and if we now then zoom right into the action over here and have a look is anybody trapped there may be some some people trapped just above 15 057 and where have we gone on ES we've got up to this if we call this entire thing a liquidity band because if we zoom out will they eat straight through this that's the question or is this a wall that's going to hold for a few minutes let's just have a look at the what's hitting this on the low there's no clues from the the end of that tail as to whether there was a continuation likelihood or not that's what I was looking at I often look at that when I zoom right into the latest action on the right hand side I'm looking to see what what has transacted at the extremes but no that would that just looks like a liquidity drop to get some more fuel to go up and take that out and that's exactly the same case in ES and again looking across at all correlates markets there is not any real hint of weakness the weakest one that I can see on my charts is crude oil so crude oil has had a a decent pullback since it reached its high as well everything else you know all four indices are at their highs so we're still in the exploration trending upstage and if we go into the the microaction which is something that I do talk about regularly as well and I just scroll this one across since we got back down to this resting liquidity here and we look at every single one of these little lows they're all incrementally higher if they're just slightly lower that's kind of irrelevant it's like an equal low but there's nothing by way of a low a low on the micro swings yet so this could be the first one if they do actually go down so there's the dotted lines that Carl was talking about so that was actually a buy ice that was up there of 85 and they took the buy ice away so yeah if we're looking at our first setup you know we've had a really really good run in nq we had some really interesting resting liquidity and then we had the reverse spring or up the up thrust that's probably the first short setup that we've had of any note since that market release apart from that we'll they're basically taking every pullback and going long let's just zoom out again and watch what's left above us so we've taken out a band of liquidity here has it got enough strength from other players to go straight up and through it that is the question you know i know i have zoomed out vertically but i'm just really looking at why have i resumed out vertically because i'm looking to see on a holistic basis what is happening to these three liquidity bands one two and three this band up here seems fairly stable but it may not be in play just yet so i was just seeing whether they were they were using this to push us back down to this which is at four three fifty and at the same time we've got nq zoomed in a little bit more the dow finally had a pullback and the russell the rty is hitting it new highs again so that is the strongest of all four so three of them have had a smallish pullback if you can this in es is a pullback and the rty has had nothing but what you'll find if you do end up trading rty is that um on those kind of moves where it just goes up and up and up when it finally does have a pullback it'll be much deeper than you think it will be it's one where those you know all the um the swings are a little bit crazy so yeah if you bear with me while i constantly zoom in and out i don't do this with my other charts so i've got i've got charts in ciara which i don't touch you know um i just have value in doing this in book map because one i can do it ridiculously quickly so you're gonna just flick your finger on the mouse wheel and two i get value from seeing how these liquidity games are playing out so that's why i do i don't give people nausea watching this on youtube and it's also something that is very pertinent if you trade thin markets because quite often in a thin market you're not going to see if you've got this zoomed in say we have nq zoomed right in um and we've got virtually every price level now now i've got every price level with it with a number on it you're not going to see half of the games that are being played that will directly impact what's having at this price level because the the pressure or the magnetism is being applied out of the screen so that's one of the reasons why i do do that i mean when i do zoom out you can see why i do it so we have a high in place and how secure is that looking at the shape of the volume profile i wouldn't call it a very very strong high that's when you have um when you have it basically being climactic you know that that's what i call really really strong high where you've got this part that it's just basically next to no volume they've explored and there was nobody interested in that price that kind of um is what what i call a really really strong high and i do my own volume profile i've read lots of books i've watched lots of people but i just do for me in the the way i execute my trading plan and the types of setups i'm looking for so they may not be technically what other people do but that is still fine with me but even though it's not a completely strong high it's a reasonable high so if you look at um if you look at the shape let me just drag it around so if you when we get our own pen out this is the nq one that's got a nice distribution there so we're in a distribution so it's quite possible that you know we'll we'll go to both sides of that before we continue up or down and if we have a look at es it's a little bit more it's a little bit stronger than the one in nq yeah and what i just bear in mind is that you know we are pollution till we're not saying in other words these markets tend to explore until they finished exploring but there are some interesting levels for them to go and try and tag in rth such as that scene of the crime and even settlement now because we are well above settlement we are still about 20 points above settlement yeah we're above settlement and we're above yeste size so there's a gap close that's a potential trade but when you do trade there what i've found as well when you have those gap closes um on a on a trend continuation if this is effectively an uptrend and then the rest of the rth session is a continuation of that uptrend then you know there might be an initial attempt at the faith that will fail quite quickly whereas if they are going to close it quite often they'll have a continuation for a good few minutes maybe maybe a couple of minutes maybe 20 minutes maybe half an hour and then it will fall down um so if there is no initial attempt to close that gap as in zero initial attempt then i might start looking at an interesting short especially it depends on what the internals are and by internals i'm talking about all the stuff that you've seen me on my statistics and also just having a look at the key stocks and what's going on what's being played out on those so nq has now made some nice lows having a look across rth is rty still at its high of the day so that one has kept going and all the other three are showing some signs of pulling back we've now got some interesting liquidity again down at the 4 350 level let's just zoom all the way back in and see what's left down below so all of a sudden you've got this order which was there at 4 3 1 6 now it's been moved down to 4 3 1 2 50 and it's been increased again don't just play for these things based on liquidity because that that is not a winning recipe in my personal opinion um stick to your plan stick structural setups and if you get into a trade and then that becomes a potential scale target you know your final scale then that can be the day you know where you just keep holding some of your position but you know they're not something i'd necessarily just play for especially if they're below and the market's been ripping up all week so this area is now getting quite interesting because they've got a thick band here the question really of how strong is this sell iceberg at 4 3 5 6 25 and whether you know if you're going to use that as a stop zone you know just a few ticks maybe a couple of six above that and then go for a short or even if you know a first target of the other way around if the distance between let's have a look so the distance of this mini range the height of the mini range is 4 3 5 6 25 turn to 4 3 5 5 it's 5 ticks yeah the first target should be this liquidity so you you did not want to take a wide stop so i'm just saying that you know if you've got in just then when it tagged that if you'd had a limit order at 4 3 5 6 25 you'd want to be scaling out straight away once it got down to there and you'd really want a stop of 2 to 3 to 4 ticks because that is not a typical swing that's more of a semi scalp and you know at the moment it's just bouncing between them so that if you'd got in there and you hadn't taken anything off then you might find that you know you're breaking even at best so they're holding it with a 200 stop and they've got a 200 and 14 blows so this is just a holding pattern they're just keeping price contained when it finally does break out it should be interesting it should move relatively quickly one might think but we'll we'll see because we cannot predict the future as i keep saying but then i say things like that so yeah the theory is that when you you're in a tight range and that stayed for a while and built up a lot of volume then when you do finally break it then it may move more quickly through the space previously where less volume was transacted and see if you go back left there was less volume transacted there anyway i think i'm coming up to my nine o'clock and i've gone past it so thank you very much for bearing with me um i will i will um hang up now and um i look forward to seeing those of you who are going to be around on tuesday at that london open let's hope we have a volatile open so thank you very much for