 Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map. Good morning and Let's let's get started in here and this is the education that we offer it's daily And live analysis Monday Tuesday Friday at 10 a.m Live trading with J trader stocks trader Wednesday, and then it's Cappuccini live trading futures trader at 10 p. 10 a.m Thursdays And then we have an educational course So all of this all of these live webinars and trading webinars Well the trading webinars aren't based on the course, but the live analysis certainly is so the concept is you have the course Have the live analysis to apply it in the live environment We'll go through the same content and then you have other traders using book map to understand how they read order flow All right, so we also have other traders We have a Tom be a volume profile trader looking specifically at volume profile. He'll start at 11 30 a.m later today and That is daily. We also have a crypto trader rain Every morning at 8 30 East these are all East Coast times here. All right, let's just go through the disclosures and we'll jump right 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 Trading futures equities and digital currencies involve substantial risk of loss and it's not suitable for all investors Past performance is not necessarily indicative of future results All right, so let's jump in and take a look here. I've got quite a bit of data in here I didn't I held my book map open overnight So you can see here the Yesterday's session and then now today's within that range All right, so this is important the the highs the lows here Pretty volatile session is I mean, you know up it's down and And we're at highs here for the last I'll go over the bigger picture in a minute And you know, we're looking now We see the the move here to the upside and the European open and then here's our cash open now Quite a bit of selling coming in right now Okay, so what looks like sellers are are starting to move this market a bit To the downside looking for a continuation now. So down to 24 and down to 2017 maybe 15. All right, let's see how that relates to Relays very nicely 17 especially Down here. So let's see if we can get enough sellers to try to reach this 20 level now So I think have we hit 24 yet? No so 24 is first stop here and It was this liquidity here, they've already kind of pulled some of that here so Yeah, still looking for it and then looking for swing down here And and 20 okay, so that's a quick analysis right now And we have a something I wanted to cover here. So I put it into the title How to read who's in control of the price action? Okay, that's kind of the main topic. I want to go over we started to do that. I think last Tuesday And I wanted to continue all right and why we think price is gonna go down to 24, which is already done And 20 okay, so this is already been like, you know By reading the order flow by understanding the the context of the participants via Their actions with orders That's what order flow reading is all about And that's what we're doing in here and that provides an edge So, you know, even we don't know what price is gonna do Uh, however, we we know that the behavior of the participants and that's what we're reading here Uh, and if we read it objectively Uh, most of the time the reads Work work out well to where price might go next now you can see we got to 24 I'm getting a bit of a bounce, but we're still in a downtrend here Okay, until we see something different And it's starting to something different is starting to kind of materialize You know we're there was high liquidity here on the offer They pulled they added more on the bid here instead and we're finding buyers now Okay, so Let's just go over a simple concept then With a read here in this order flow. We're looking for 24 That that was when we were uh, when we started here, what like Here's 10 o'clock back here. Uh, you know, maybe we started looking at it somewhere around in here and There's four s and p points right there now just just because it's four s and p points that doesn't matter This is what we want to cover is we're looking for here and you can start to Consider trade management Around this read of the order flow now. This is not a trade recommendation room so Basically, it's these are just ideas to consider For your trading. So for example, if you're a short you're looking for the continuation Into 24 take you could take some off All right, and you can hold the rest you can put your stop to break even and you would have gotten stopped out at break even That's fine. Uh, and uh, at least that's Let's that's acceptable for for many traders. Let's put it that way and if You uh, there's many different ways to manage it. That's just one consideration All right. Now. Let's take a look at what's going on now Okay, well, we're still in a downtrend. Uh, look at the you know, we had uh, 10 o'clock here. We had some data Uh, you can see this uh, pull of liquidity around this event here And we just went up above here and uh, uh, tested above these swings here But this is where the bigger swing took place Okay, so that's what we're watching Now we we we came back up here. This is a Pretty, you know nice move back up and some pretty strong buy volume up here too Into high liquidity here Right, but we're still in in the bigger. Well in this medium timeframe picture after the data release Uh, we are still in a downtrend. Okay, it just broke here So now we want to see if we're going to continue On up or are we going to continue on down and that's going to be the read right now All right, so who's in control on this very small timeframe will will buyers to control here Okay after it hit 24 buyers took control Right, so uh, I move back up to 35 here and high liquidity here and On the higher timeframe or if we zoom out just a little bit This is where the sellers took control Okay after the data release All right, and they they are now being tested by the buyers All right, so Let's see if We can maybe get even more buyers back up here. Okay, the next next level would be around here 38 and It's going to take some buying to get up there and get through all these sellers here But we know one thing is up here. There's going to be some stops Anyone that short in here is likely going to be placing stops up here. We already see a stop run here so Maybe those kind of at break even from this move on down or Not necessarily break even but placing their stops in here. They've already been triggered Okay, so let's continue on with this read. All right, so we came up here Nice swing up to where it dropped from Okay, so in control here buyers on this smaller timeframe We need to see if they can continue Okay, what about the this this a little bit higher timeframe what we're still we still made a lower high here So if we see this trend line break or let's just say these this level break Okay, also here this level here around 33 Okay, if we see sellers below that likely they're going to test back down to this swing or these areas down here And then maybe where they initiated the move here As well. Okay, so we have some levels to look at here All right. Now, what's the order flow around that? Well right now it's looking pretty bullish here. Look at the look at the bid And they're bidding up in this area here. All right, we're finding buyers here Okay, this is good, but they are they are on the offer here, too So there's a battle kind of starting to wage here. All right, let's zoom in a little closer So we're just trying to get some insight here of the condition of the orders Yeah, it looks good on the buy side. They're pulling here We're finding our buyers should be able to make it up to 36 and a half. There we go And and let's see them break out and hit up here to 38 and a half or 38 and a quarter And then look for our stop run maybe into 40 up here All right, so here's our first move Still we got to see we want to see the break here of this 38 here And then we're looking for our stops up and above above 38 Okay into 40 basically Yeah, you can use cumulative volume delta also to help understand who's in control I would be careful with that though because of divergences You know like here we know it right and I mean, you know, you can kind of determine it out also on your candlestick chart Um in the same way, but here what we're looking for in bookmark. See they can't get they can't get above 38 Right right right now And this is the important swing here Okay sellers come streaming in so They are these guys are still in control basically. This is an important distinction Okay from here on Right, so now buyers in control here and here and then on the small time frame. They are out of control now It's already below them And we might get a retest back up here and we might we might see more buying back up and this is our pivot line here How many times have we seen that? But i'm i'm curious. This is a pretty strong move. I'm actually looking for more sellers now to come in Our first level at 30. There's liquidity down here And then the next level would be probably around this kind of 27 Area here that we marked up All right, so here's why let's take off stops and icebergs for just a minute and put cumulative volume delta on Okay, so this is cumulative volume delta in the in the sub chart here And yeah, see see how this kind of nicely shows who's in control here But when you have this kind of move in here Into high liquidity and is absorbed by the uh, uh the selling Here limit sell orders Well, this this makes things a little a little more difficult to to read in the cumulative volume delta, right? It's it's still popped and it made a higher high Price made a higher high. So it's not really divergent, but you know what I mean In in fact, if we want to make it an example of it, uh, we can We can zoom into an area like this And Let's Let's find a better example Yeah, kind of challenge to find a good example at the moment. Um Yeah, I mean these guys are still in control and cumulative volume delta here as well But you'll see like sometimes the You know that If I can just find a really simple example, I mean here, you know, you're looking at sellers being in control Uh, it hitting into this high liquidity here Uh, and uh, but price really didn't move that much. It did move down Okay, but and but there's a lot more selling in here But they're being absorbed here at this price level which stopped it from moving That's that's where like you're going to get a a divergence Okay, so sellers hitting the bid Uh, but not being able to to take price lower Okay, so you're going to see that and you're going to think wow these guys are in control Uh, and uh, you know look look what happened here Right, we got to move we get to move back up All right, so uh, just be careful with that That's that's the the beauty and kind of the problem here with the with the indicator is uh, uh, just uh Well, there's other problems with the indicator, but it it is what it is. I mean, it's a really straightforward indicator And and it's kind of bluntness is I think it's beauty It's so simple and straightforward. It's just by minus l plotted By minus l plotted therefore divergences are really easy to spot Because if price stops and they continue to hit into high liquidity, but price stops you get a divergence That's just one way to look at it. There's other ways. There's negative diversions You know, maybe you see price spike up But uh, you don't see cumulative volume delta really spike up Okay, so Anyway, we had our move back down Boy, this this is kind of a bit of a challenging read. We're right back up here Again, uh, we just came down to this swing Okay, and uh, in fact, let's just take a look at this In fact from the who's in control in this move here Well, I mean, yeah, they kind of started in here Uh, and maybe this is kind of a false breakdown a boat below here or the swing here It did not break that swing And now we're seeing the buyers come right back in okay now This is where we're looking for it to break Okay, we should see the break higher above our 38. We got to get to 38 But that we're looking for the move to 38 here. We're seeing buying pressure come in We're seeing a lot of green dots in here. The bid looks good starting to pull a little bit on the offer Let's see the buyers try to, uh, uh, reach back to 39 and 40 now Okay, this is, uh Yeah, I would say that is more likely now at this point here. We are at 38 still looking for higher Okay, so now now they're had to kind of regroup and retest back up here and now we're looking for the continuation All right, so that's the smaller time frame move. Let's zoom out a bit more Uh and put this into context Okay, well this can turn into a nice higher time frame move now too. It has all the possibilities here a pretty strong volume looking for 40, uh, and uh, maybe even higher here Maybe we can get a quicker move up into Uh, this liquidity around 44 or 45 kind of a zone up in here Uh, and uh, this is this is strong, right? This is uh, kind of checking It would be good. It would be better to see bigger green dots here but there it looks to me like the The the buyers want to move it away from uh, this this area here. Okay now There's a few caveats that we have to be kind of aware of One is this Is the high Okay, and uh, uh, we just kind of poked above it. Okay around 38 Uh, secondly, uh, was what I had mentioned previously was this in here Say we're gonna already see the retest here, but look at this heavy selling in here So, you know, we want to see strong consistent buying Moving the market away from a value area. That's what it takes to move away from a value area. So This whole area in here, for example And all of that selling where they took control Hey, we need to see pretty strong buying like this Over here if we look at this type of selling here And this move to the downside. That's what we want to see here to the upside Okay, and we can see that it's just not quite as strong. So it's a graphical Uh, representation of the volume in the dots here the size of in color of the dots Uh, and that's what we're looking at in here Uh, trying to determine now. We know this is data here as well. So, uh, you know an economic release, uh, and uh, and then this here is more technical right now Okay, so Let's take a look and see what kind of stop runs we got there because we were anticipating the stop run We didn't get too much. We didn't get too much out of it. Uh, it did it did do a stop run Not not much though The nicer one was down here Before it got up to the swing Good morning, mcloco super bullish today 2250 on your radar. All right Or for 4250 is that where you're? Yeah Good morning, jeff. Okay. Yeah, 4250 super bullish and 2250 would be, uh, uh, super night super, uh, bearish All right, so let's see here. Um Any other questions? Oh, okay. David you're watching me. You're watching this on the roku every day. Great Uh, all right, so anyway, uh, let's let's let's take this concept further We'll go through in more depth here since we're kind of on a roll with it. Um, and um Understand, you know, who's in control in certain areas here and and it's this one here But yeah, you know, I thought they we'd get the move up into 40 and We were like a tick shy it looks like um, but um And then, you know, it this might fail here this very well might fail now But we're we're reading this in here and it was like, yeah, you know, they should be able to pop it up into there Uh, and maybe it can really pick up once we get back up and start to see some stops triggered here Uh, and it didn't okay. It didn't uh, so And and that's fine. Uh, we did have a couple of caveats. Uh, and Uh, you know, that that's that's what we want to determine here by who's in control And we can take this it's very fractal. You can look at lower time frames higher time frames Doesn't matter. Uh, you can look at like the lowest time frames It is still the same idea the same concept here buyers in control here Sellers bring it down. Do we get more buyers back up here? Nope. Okay. So now We should be able if we can get some sellers down here and we we did get a few They should be able to bring it down to maybe 34 34 and a half or 34 and a quarter Okay, so here we go starting to auction down it should be able to should be able to drop it Okay, not much selling down here countered by some buying A little more selling a little more right here at 35 and then we should get the move into 34 and a quarter Okay, so same concept same process. We're going through here By by reading the The orders in here the transactions and now we got to get our sellers here If we don't get our sellers here buyers will come in and they'll move it probably back to 36 and a half or three quarters Okay, and we have the possibility There we go. So we have the possibility now for this to turn into a bigger move too Okay, not just down to 34 and a half or 34 and a quarter Right that we can you know see this drop quite a bit more down to like Yeah, well the guys took control here somewhere around this kind of 33 area, but also 31 and below And below Okay, so yeah, in fact, this is for some pretty big selling looking for it to move then Right, let's see it sellers If you if you're going to take control of this you've got to move it down to here And that's what we're looking for Okay And there's another piece in here. We're looking for we're reading not just the the price structure And now so right now we're kind of anticipating Sellers to take control right now. Let's take a look at this read here Did they really take control here? I don't know this looks pretty good in here This doesn't look so good the points move is good But you know that that just means that we can see buyers come streaming right back in to where it dropped from here Okay, because there's not a whole lot of selling in here We want to see sellers moving it away from that area Okay, now now they're starting to come in now. It's looking a little bit better Okay, does that make sense This is You know not not you really your your typical kind of education About candles and indicators Um, you know what we're reading here is is the participants now see see that scenario Just played out Okay, and it also opens the door here that these are sellers They're going to be buyers up in here They'll be compelled to buy We should see stops triggered on the way up into 38 into 39 and we can get probably to 40 here if we get enough buyers Okay, so this dropped three points three and a half points 33 Or 34 and a half down to like 31 and a half three points basically We've noted in in in these moves here that we need strong selling and two to three points is kind of uh A barrier if you can get over three points, you know four or five that means that that We're likely going to be moving away from this previous area here We're coming a lot of stuff in here And I know it's contextual But we want to understand You know what what exactly we're looking for the more more clarity and what we're exactly what we're looking for Uh, the more clarity in the move here So, you know, they did move it back up here And then they actually the buyers did have the the potential the possibility up here They're just they're just letting these guys out now Okay, so we're not we see some stop runs here It's not that big But we do see, you know, the the stops up above this little area here Uh, but we're looking for a really big stop run Okay, something like this one over here, and we're not getting that right now See some iceberg buying in here Anyway, this concept is not Uh Unique in the sense that you know volume profile Uh This is something you're looking for in your market and volume profile your single prints all that kind of stuff Where you get a big profile and then you get a break and you have very little trading Even that's when price is really moving and then it kind of slows down and creates another profile and you have a trending day pattern Okay, do we have that today? Absolutely not. This is this is quite a pretty profile in fact For uh, well, this is maybe a couple days here Right, so let me zoom out for just today Yeah, so today's actually isn't quite as pretty Uh as two days here. So yeah, we you know, you can yet has a skew here to the upside I mean, here's your tail down here. Here's your p-shaped So any any questions on this like uh understanding the um, like who who's trying to take control here? Uh and in this level here like well the sellers really started up here and in this move they're still in control basically Okay on this time frame, you know from about 10 22 or 23 onward And we're that's what we're reading and I'll zoom out. What about the bigger picture? Well, these guys kind of got upended, but it did not accept above that area, but it did break it It did break it. Uh, it came back in though Here we go. Look at that reaction to liquidity here. We got our buyers here top of the range Here we go again. Okay buyers should be able to reach up here Not just to 38 but 39 and 40 Okay, we need to see a bit more buying in here and we want to see more action on the bid here That they're bidding up and and you know, otherwise, this is how they get these back and forth days It's like, yeah, they try they stretch they stretch up here And not enough buying and sellers come in and pound it right around this area here at 35 and a quarter And then very easily be able to reach back down into these lower levels because There's not a whole lot of liquidity in here. Let's see if we get our buyers here and skewing that order book on the bid We got some buyers no bid though. Oh, yeah, um later in the the um The passive orders, uh, have have a tremendous influence in here Tremendous Here, let's just see if we see it right here Here these guys coming in reaction was sellers Okay, let's see if they actually Maybe we flip. Maybe we see them pull. Maybe they add on them on them on the bid No, they actually pulled here added more here found more sellers Right This move didn't really start to take place. I mean here it did but it it continued when these guys came in Okay, so now bottom of the range even more here now. Let's see what the reaction to that is Well now see how they they took them on and that now they flipped Okay Great Let's see if we can get these sellers here upside down watch the bid here They're pulling here. They should pull here at 39 as well and we should hit 40 Right look for the bid to flip here or more on the bid here Uh, and uh, and then at At this area lack of sellers and then more buyers here. This is setting up very nicely Just need to find a bit more on the bid here Pulling up here adding and pulling Okay, let's see if we get it here On the bid looking for that bid and let's see if we get some buyers Pulling there they go a bit just a bit It's not much. See we're really kind of squinting our eyes here looking at it. It should be clear Uh, and when the order flow is clear, it's it's just um, it's an easy read Right, so we didn't get it. Uh, we got actually kind of the opposite here and it's and even that one's not much Uh, we had sellers and they kind of lowered it in here and we tested back down to this lower level here So let's zoom out and see what's going on here Very choppy in here continues to you can see it's trading up here. It's trading down here It's trading up here Will this be a false breakdown or is it going to trade down here? Okay, we have the potential for that false breakdown here And let's see if we get buyers in here and that skew in the order book again and then right back up to 38 There they go. All right, so now they're gonna they're pushing it here Looking for the continuation. We see the bid looks better here. See it looks better there See it looks better here finding our buyers great should hit 40 now and uh We've been waiting for this move up in the 40 has been back and forth in here Uh, and um Let's see it. Let's see it buyers They made a higher high here. That's just by a couple ticks No, they can't do it All right, that was that's uh, this looked pretty good right in here Uh for that potential More on the bid would have been great, but we had it Would have see see we're looking for this kind of liquidity this in in the order book here up in this area up here That's where it's it's just higher probability Okay, so anyway, uh, let's see if they can do come right back here And they need to take control above these guys at 37 here. Okay, let's see a few more questions in here Yeah, well, it's it's a good point. Um Uh lay from that, um, you bring up here. We're going to cover the heat map later today in of in a, um, Um an event at 2 p.m. East coast time I can show you here on discord. Uh, it's on our discord channel Uh, we yeah, we'll have a youtube event as well Sorry, let me skip back up here again It's under here and here's the event Okay, so, uh Looking at the heat map here Okay, so Look for that And we'll go over an exercise in here, uh, like, you know, really get into the nuances of reading the heat map So what happened here did both actually we got our false breakdown Uh here move back up and then it and then it broke down Uh, so This is this is really kind of choppy environment in here Came right back up into these guys. Okay, so Let's see what's happening here. Okay sellers have moved at three points already pretty strong volume Pretty strong Just looking to see if we get it maybe You know, are they trying to move it here or is it going to be a false breakdown again above 33? So if we if we see our buyers back up above 33 Then looking for Back up to the swing here and then 40 back to 40 Yeah, rob. I'm kind of I'm with you on that. You haven't really seen anything you want to want to, um, Commit to at this point Yeah, kev kev senator as well. I agree Even trying to determine who's in control here Looks like looks like sellers are going to take it here. Like they've moved at three Now they're trying to move it away from from this area now, too Uh, but uh being kind of careful here, but it looks pretty good. Um Our next level is down here at 27 and then the swing low here around 23 And you know, here's our bigger picture or at least on on Since 10 a.m. In the data here on the bid is pretty strong at 30 or on the offer is pretty strong at 35 And we're finding our sellers in here great. All right So they should be able to move it then move it away from this area here, right? So, uh, we had to go through all this back and forth in here um And uh looking for continuation Okay, now it's moved more it's moved, uh You know from 29 from 33 to 29 So four points Okay, now we're getting into something Uh, yeah, we just we've seen this many times buyers may come come back in and whip it right back up here But it's starting to create a new area here. And that's that's what we're That's what we want to know Like here Does it is it creating this new area? Okay, great. And then, you know, you're looking for Uh potential shorts up in up in here Okay, or in you know, if it's really strong, it you know, the potential short would have been right here Because stronger moves shallower pullbacks Uh to uh areas of high volume nodes or or high liquidity here So anyway, yeah, I I'm with you guys, uh both robin in kev's kevson Um, and but we got to go through the order flow reading Uh regardless, uh, we're just looking for something higher probability When all these kind of pieces align and give us just a the orders are telling us and right now It's um We're trying to we're still kind of squinting at it trying to get something out of it But uh, I would say the move is is likely to the downside here That's what the orders are telling us, but it's just not that strong So how do you handle something like that? Well, don't trade or Uh trade, you know reduce your size quite a bit And you can do that with minis or micros. I'm sorry You can look for that It's interesting. We have you know quite a quite a bit of data in here from yesterday as well So, uh, that's good. Um, and you can see like really who's in control here. Well At the end of the day up here around this 42 50 this the seller certainly took control Here's the pullback. Um, and then here's the continuation now You know the pullback happens in this area here where it kind of pulled back as well here This becomes that pivot point here And we mark this up for uh today at 40 and that's why we're seeing reactions around it around this 40 level So we want to see if we can break it And so far we cannot Okay, so this is that top of the range. So we just covered this scenario here Uh now, uh, and this was a you know potential just pull back here And now let's see if we drive away from this area again Okay, so uh at least to move back down to the point of control of this little area in here Which is basically here or here. It's quite low Uh, so yeah, we'd be looking for the the retest back down to there Uh, and then if we can get enough selling down there with them, we'll get another move And that would be like this Now you can see like yeah this one like uh Uh, yeah, I would have I would have taken a shot at it here. I'm looking for the continuation But uh, I'd be stopped out. I'd break even right now All right, and just look for the next one Okay, and then now now it's starting to play out This would be your pullback Or your breakdown trade here Yeah, I don't know. I still don't really like it. It's looking better here See the selling starting to mount down here see them pulling here But uh, yeah still still don't Still not convinced here looking better again more selling down here. Okay, but Let's zoom in a little closer. We want to see the selling here, right? Not not exhaustion there A little bit of selling there not bad Sellers got it here. They've got it the bid. There's a little bit on the bid here. That's good So here we go some selling coming in Now that was short lived and and it's just uh in rel in in relationship to the The other other volume in here. It's it's a little bit less And this is we want to see really sellers move it away. I'm not quite getting it yet Okay, one more shot sellers But you got it if you want it looks like uh, if they've got enough selling pressure here They should be able to move this into a new new zone here So we're looking for kind of a quick move below the swing here now Here's what happened. Okay, we get another rotation back up. It still may do it, but uh, this is uh, You know kind of a double bottom pattern. We look at some sellers here Lack of sellers here buyers come in and we have an order book flip as well It's just really uh, it's really back and forth here Still it's still and it still may do it here So it's a hard read. I mean, you know, we got it. We got to go through the reading and I would still give the nod here to the sell side um Just just due to the structure in here and the sellers in here There we go. High liquidity. Let's see the reaction to it Driving price away. Yeah kind of Yeah, see the buyers went after it here 29 So see how that just convolutes the whole situation here. We don't want to see that We want to see that uh, uh, this a high liquidity on the offer here. It repelled sellers buyers Not attracted them right, so It's just uh, it's just not as uh, it's not as clean a read a clearer read And that's that's that that's the situation Uh jk. Yes, the market order is there the ones that move price Absolutely Um, they are very very important. Uh, no, there's no question. Um, and there's no debating that Uh There's another side though and it it is I mean technically, you know the the um limit buy and sell orders cannot move price technically Okay, they they certainly influence it heavily Um, but they they can't move it Uh, so, you know, you see that um Uh They can absorb price and keep price from moving though and and that's what we're you know looking at is this relationship here Okay, and it's supply and demand Hey that uh, you know, you get you get more, uh, uh here on the offer Uh, and uh, there's a lot of supply and well, what a buyer. What do the aggressors think of it? Do they want it? Is it an attraction is is this longer term high liquidity that's already been kind of Digested in the marketplace and this is a target for them. They want to go for it And reach those levels We can see that in stocks. For example, if we look at apple, uh, you know stocks trade a little differently Uh high liquidity comes in at 9 30 a.m. Here At these price levels and they're just saying I want you want to be a buyer or you want to be a seller Um, I'm sorry buyers if you want to meet my sell orders. I'm up here Okay, they took them on here They came back in with some more actually Uh, but they're up here Okay sellers are down here at 170 Um, well, yeah, this is 11 a.m. East coast time Almost 11 a.m. I mean it's live so wherever you are. I mean this is live, uh, live webinar Let me get to some of the questions in uh Discord Smash the like button with your face All right Seems like a gap filled today. Yeah, we haven't taken a look at the higher time frame um Who sent who sam yet? Yeah, we'll do that. I wanted to go through who's in control and then it's like You know this it was not a great market environment for determining who's in control today Because it's just not as visual Um And and you know, there's just time frames where it's being upended On all of them in fact, uh, so And you know that and that's not uh something um Maybe I had expectations are too high. Look at look at yesterday here, you know, and we're in the middle This is like inside day so far So, you know, who's in control is this is not the right day to go over this Uh, really but the concept is the same So let's let's take a look here and zoom out in our higher time frame And we we can go through it Okay, so now on our higher time frame We'll look at some candlesticks here On the left hand side, we have the daily for the es the hourly and then we have the 15 minute or five minute here. Let's turn it into a 15 minute 15 minute here On the And these are uh, regular trading hours. That's why I see the gaps. All right, so, uh, let's take a look here right, well Who's who's in control over here? Right, we've been covering this for some weeks now Or several sessions The sellers see out of this range here see this range up here. There's no question about who took control sellers And they they moved it away very very quickly from this area here And then they moved it even below this swing down here And look where it came back and retested a few times Anyway, the point is they are in control from Basically somewhere around in here onward Uh, and then, uh, you know as the summer progressed through july We get all this back and forth here and then end of july here or kind of mid july mid To the end of july buyers took um initiative above the range here And this could be a false breakout On the daily and then back into the range But it bounced off of where it broke out from And we found more buyers. We made a higher high. So they are starting to take control in here So we look for and I think we covered it. Let's see. This is uh No, we I didn't get back until august 1st That would be up here. So anyway, uh, yeah, so We would look though for the move back up to the bottom of this range or Back up into the point of control of this little range up here Or if there's even more buying pressure back up into these sell wicks where they came in And that's what we were looking for because this was strong. These were some some strong days here. So, uh, Come august 1st. It's like well Even before what I left on vacation here We were looking for the potential move back up into, uh, uh, this area here and And then we drew this line in Monday august 1st thinking, okay, look, this is a strong move We should See them tested up here. Uh, because it blew through this one already In fact, that became a support area here And and so we know anyway the point is sellers in control buyers testing that control here And now the follow-through And they got above the wicks they are still in control Okay buyers are in control on this time frame here. We're looking at just three months of of of the daily chart here for the es All right, so just to make the point now Let's go over to the daily though or the I'm sorry the hourly in here All right. Well here here the the buyers have control pull back. They still have control Consolidation higher highs higher lows still have control higher highs higher lows. They still have control All right, so still seeing that even on on the the big pull back, uh, uh the other day Um, uh, you know, they're they're still they're still in control above this area here All right, so That's kind of what we're reading. Uh, let's read today's action in here Okay, yesterday's and today's here's yesterday's we had the gap up the gap fill okay Beautiful gap fill We would anticipate there to be some buying wicks down in here or even here top of this range Uh, and uh, we did at the end of the session and then we had the gap up today Okay, where did the gap go to to test these wicks up in here? So, you know, the the concepts are exactly the same as what we're looking at in here in book map In the order flow, we just have much much deeper insight here because we know the transactions We have the represent graphical representation with the size and color of the dots And then we also have the heat map and now the heat map. This is where it's really helpful You know, where are they bidding? Where are they offering? and Just to just to demonstrate, uh, that is um, here let's we're gonna Clear the drawings here Just to demonstrate that We can we can look at, uh, you know today's action here Okay, uh, and uh, uh, here here we have the the news here at 10 a.m Where did price go? It went right into liquidity and it and it stopped and kind of bounced here Okay, and then Uh, these guys stayed in the order book here. Uh, they wanted to be buyers here There's no question about that even with the the volatile or the volatility of the numbers Uh, you know, that doesn't matter. Uh, you know, they are still in here Uh, now, you know, it's it's up to you like, you know, how much you know, you put into like how how Um Important is the uh, uh, University of Michigan consumer sentiment. Um, you know, do you consider that a really important event? Well, you know it it uh Uh, you can see the the volatility in here put it that way and anything with regards to interest rates at this point or consumer sentiment is Uh, kind of sensitive for the stock indexes. Anyway, the point is We went down into high liquidity down in these areas here Uh, now this is where we see the swing tested Look at the bid strong bid. What's the reaction to the bid? Well, finally it took a little while in here for that bid Uh, but we finally got the uh, the aggressors to to listen or to the to the bid And they start to uh, uh buy and then start to move it away from This area here Right in here Okay, so we'd be looking for them to trade back up to this liquidity up here or some of these swings in here and Yeah, you know somewhere somewhere around in here probably first one would have been here which they already did second one is here And then yeah somewhere around in this area in here. Okay, so now did we get there? Let's take a look Now it kept on testing up here This is as far as it went Okay, and finally Finally it did had to had to come all the way back down here Uh to this liquidity To find buyers again, and then we repeat that same pattern here On the bid finding buyers up to high liquidity up in these areas here. Okay, so You know showing the intent of buyers and sellers in the order book has it has a real effect on uh, and it just makes sense Hey If this is an auction, then what we're um Uh, let's see here Scalping strategy. I'll get to your question. Um, but uh, sorry. I'm just uh Elaborating on on this one here Uh, it was a question about uh, you know, how much of validity does this have and it has tremendous impact on on the market Okay, so let's let's take a look now Well on the bid here Okay, now did they they they kind of pulled on the offer here finding buyers Okay, then yeah, let's see if we can get to 38 and we're back to our 40 level here yet again We had to come all the way back down here And now we're looking for our 38 and our 40 Okay, look at the buying pressure come in here. There is enough buying pressure to get here to 38 The the liquidity here is at 38 Okay, so that's what we're looking for Okay, we want to see the bid add more. They're adding some in here. Okay. It's kind of bluish in here Okay, they can be zipped down here very very quickly Uh, that's why we want to see it's better when we see higher liquidity in here And the reaction be buyers Okay, so here's here. Here we go. Here's our 38 and let's see Let's just zoom out and let's take a look look at the reference here Is there enough buying pressure in here? It's not it's kind of equal to all of this back in here It may move up into 40. Uh, but uh, it's you know, it's it's And this is this is pretty strong buying and consistent buying here. So Yeah, you know 40 looks pretty good There we go. No, there it is. Uh, finally we get it. All right now question is Is this is this where we're going to see the bigger move? From here On up to mcloco was looking for 42 50. This is how these moves evolve Okay, so yeah, it's pretty strong buying Okay, well that that much we know They flipped on the bid here All right. So, uh, all right. Let's let's see if we can get here to we're getting a pullback We want it. This is a strong move. So shallow pullback These can be little considerations for entry points in here for your pullback Okay, or here. This is another one obviously through 40 Uh, and they're on the bid here at 40 and another one would be the last one would probably be back down into here Hey, where it broke out from All right. Well, they're on the they're on the bid here. What's the reaction? Sellers are taking them on actually They trade into them Okay, so, uh, uh, what about here? What about at at at our 40 level? Sellers take them on They actually kind of pull So where where are we finding buying interest? Well, we see it coming in here And that we're looking for this move may potential move down to here Okay, well, we got it All right. So let's let's be, you know, honest about this here like, uh This move here was was looking pretty good. Uh, we had The caveat in here was that, uh, uh, you know, we We were looking at the reference in here We want to see the big green dots pulling this up and what it what it was was a stop run That was the big green dots in here and you can see it right here We're looking for this like an hour ago or something, right? Uh, and um Uh, we finally got the the move through it. Uh, and then now we're looking for, um, uh, the um The pullbacks in here Okay, and uh, uh, trying to kind of, um, uh, understand, uh, Where are the buyers and and where we might get, uh, a bounce out of that area? Since, you know, they took control here the buyers took control and we also would have to kind of Address this move in here There's a lot of stops in here That's likely, you know, stop losses to exit So are we finding new buying above our 40 level? That's a big question And then we can determine this we can look at, uh, I like the way j trader had this or Scott yesterday I had this, um Looking at the stops and icebergs on chart as well as the sweeps It's just loading here. All right. Let me get back to, uh, some of these questions Okay. Yeah, we we can determine who's in control in a range, uh, as well Uh, this breakout in here You know, so we just covered that in fact Okay, so god, that's a really nice stop run. My god You know 11 basically 1100 So, you know in this range in here, we just we've been covering this actually we've been answering that question Uh buyers are in control now. What are the condition of these buyers in here? That's where it gets really interesting Uh condition of the buyers in here. We're not so sure about because Although we see the buyers in control now and it's accepting here in this range, right? So they they remain in control that answers your question, you know, I would love to There's where to where to grab it exactly in the points. Um, we'll just go with our 38. I guess here, uh, but Yeah, and we'll we'll stick with that, uh, you know, maybe here as well, but Yeah, I like the 38. Uh, that's kind of what we're looking at earlier before we hit 40 So it was the top of that range Right. So now so that that's the kind of the the insight that you're getting here that you know that there's a lot of Stops in here. There's icebergs on the other side as well absorbing even more in here Right. So there's this is something that we want to really kind of uh be be somewhat careful about here About this breakout the question is after the breakout the event has been the breakout and the stop run Now what about it after that? Is it it does it still accept above in this area where you know, we see these buy these buyers come in so far so good You know, we see it Okay, so that that I hope answers your question with some warnings in there as well About understanding. Well, you know, this isn't all new buyers coming in here A lot of them are not They're exiting If you use a fit okay, so the scalping strategy if you use a 15 minute time frame do all levels Heatmap will be the same as what shows on the current chart I mean the heat map is showing the record of the Limit cell orders over time So the 15 minute chart, um Yeah, I mean this will change the heat map will change In color when we zoom what book map does is it takes the area of the highest liquidity in here and it will scale it so It's like You know someone in math class that someone always breaks the curve, right? He's way above the the normal um and uh You know, he gets like 100 of this math test where everyone else is is getting like 70 percent If he wasn't in there the curve would be a lot easier So it's it's referential basically is what i'm trying to get out here And so if you zoom out and there's another area of very high liquidity You'll see that that shift and change the order book colors But they don't the numbers don't change. It's just a it's just the graphical representation Okay, scalping strategy. I hope that answers your question Okay, you want to look at apple and amazon we can take a quick look Okay, noel uh, sometimes liquidity acts as a target. Yes That's what we wanted to turn is that relationship and context between the aggressors Okay, and typically all right, so let's go through and you know, we're going to go through that this afternoon See that see this lower, uh Lower time frame it just popped into the order book here and here Right, so we're getting a little bit of volatility in here and here right and they just pulled These all of a sudden these skews in the order book. It's kind of like, you know Uh, something very very quickly changed here And this is likely the same player you pulled here added up here pulled here added down here It watch them come in again, you know, probably up here uh, so, uh These little change or these are big changes, but they're very close to the price Uh and in general it it depends it's it's hard to even say in general It depends, but what we want to read here is the context of the aggressors Did they want it? Did they go after it and that shows buying pressure? Did they trade into it? Do these guys stay in the order book? Uh, and did they transact and if they if they transacted was there still more buying pressure above it? Okay, I'm gonna turn off sweeps There we go And you know, that's what we're trying to determine in here. Let's see the reaction in here Now he pulled though So initially great great pop. Um, maybe is it potential manipulation to move it up into 41? Uh, fill this guy here. Yep. Did he get icebergs filled in here? No, I don't really see any maybe a few Um, so, you know, that's where the ice stops and icebergs can be really helpful to understand the relationship not only between the aggressors Uh and uh in liquidity here, but are people front running it and using hidden orders as well? Uh, it's another level of detail here. See look at look at this skew now watch. Does he pull? Watch him pull So it just broke out and now it's a potential for a false breakout Okay, he pulls and adds lower adds lower Right. So, you know, this is This this is what's been, you know, making it difficult for us to read here Uh, you know, he's coming in he's pulling. Well, if this is the situation then this just can be this back and forth kind of mess in here Which is exactly what it is Uh, trying to determine like who wants to to get filled in some of these areas in here So, um, yeah, I I hope this is making it clear now Let's take a look at stocks Okay, is there any question about the longer term high liquidity in here? Okay, and now the buyers went after it. They finally went after it You could have read that in here This was kind of a hard read in here because they're adding and pulling liquidity even on higher time frames but here We trade it into it. They transact because we see the big green dot and they trade above it This is what we're looking for in the s and p And a lot of times it's easier to read in stocks Look at that. Look at how clean that is Okay, you can even see it kind of down here it it pulls back, you know stronger But to the point of control here. So the point of control is kind of the last gasp Basically, maybe maybe it breaks out, but it doesn't break out above this area. Maybe it breaks And retests down to the point of control And then accepts higher, right? So Here's your test into 71 And there you go Right, there's your longer term high liquidity that acted as An attractor for the buyers to come to and that should that should be helpful for you to understand the the distinction Okay, let me know What we'll cover more this afternoon In fact, we'll go through turning off the volume dots and reading it Okay, um, I hope I'm answering your question scalping trader to answer your question Our scalping strategy Okay, so we covered apple. Um, that's the only stock I have right now I close a lot because I have a lot of data in here. Um, so sorry about that But I had apple and amazon and and and video open this morning And it was like, yeah, this is becoming a little too much and I got all these different softwares running to to a project book map right now I I just hear my cpu Acting up. So I'm I'm gonna kind of tread lightly here Alexa welcome first-time listener No, I mean, I'm not if your volume profile charity might want to hang out after this webinar in another 10 minutes or so 15 minutes Um, uh, we have tom b volume profile trader. He he'll be up next Okay, you can ask him a bunch of questions. So he'll be reading order flow within the volume profile and market profile More volume profile a hecker boy. Yeah, I'm in new york city. So you're in pakistan welcome Yeah, cpu is knocking on heaven's door. Yeah, it's uh, it's acting up There's a lot of data points in here Anyway, this this is illustrating what we're trying to go through and Uh, and and this answer is another question here about who's in control In apple, I mean clearly, right? I mean, there's no question Okay, now and I was covering trying to cover this in the s&p now we'll probably go back to the s&p and it's moving, right? um, but Uh, because the apple sure moving um Anyway, what I want to cover though is like, uh The pullbacks in here Where do these pullbacks go to? Well, there's kind of a smaller range in here You know, and we look at these kind of structural areas that that Price action creates. Here's one. Here's another one. Here's another one. Now. Here's the breakdown, but it's still bullish For it to be bullish though, this is a precisely what we're looking for Buyers back up to the swing here Okay, now what about up here? Well I see sellers up here And then we didn't test into this liquidity here at 71, uh 171 10 now we may But it doesn't look very good right now Okay, if we see a lack of Sellers here and we start to see some buying maybe right around in here Okay around 70 103 Uh, yeah, then More than likely we'll we'll trade up to here Okay, but we didn't get we don't see a lot of buyers here either Right, so okay If that's the case then Where are sellers going to take it? Well first level is probably going to be down into this little area right here We look for liquidity on the on the on the offer as well Here or even back down to here so Anyway, that's uh, that's kind of the read of the order flow there And let's go back to the s&p and see what's going on Yeah, we haven't done much We were we were looking at this area in here Uh I'm sorry. Did we did we did a bunch we did do a bunch we did break out And we did see the continuation here Boy a timing hasn't been good this week. Um Kind of turn turn our heads and just look at something else and and then we're starting to get our moves here Okay, well Still still looking for continuation another stop run here to the upside huge one here Now this is another really good point here We left off on this move in here Okay, looking for this to you know continue 428 for our 42 50 here mclocal you're you're right on target um the um We covered this here as like what kind of orders are these and who's in control buyers in control The caveat was a lot of stops So, you know, those aren't people. Um They could be by stops true, but mostly it's people getting stopped out It's all the people that were we're watching all this back and forth in here And then looking for the the move to start to trend away It's it's the people in here getting stopped out. Okay on that first move And now we're getting our kind of trending move buyers in control And then looking for now we're looking for not stop runs in here because after the stop run that doesn't matter That's the big event no question, however We want to we want to see if does it accept above this area. It just broke out from that's the question In here Okay, and we did Okay, and now what we're looking for we're looking for buyers in here And and then this is another read of the stops in icebergs or the stops at least Uh the the um the read in here. We know these are stops. Do we see a lot of stops in here? No This is new buying These are new market buy orders These are new market buy orders in here Okay, so we have some insight there We also we can see that a smaller kind of structural area here And then here right and then the breakout with the buying up here. That's what we're looking for Uh, and then also we have This it's really too bad. I mean, this is what we've been looking for Covering and and it just it failing uh with all the back and forth here They pulled here added here added more here found buyers looking for higher liquidity. It's as simple as that Okay, same process Okay, and then uh, and then the follow through now. It's just we do this live all the time It's just uh, we kind of miss this one in live market And and but and we're we're still calling for higher higher highs here Who's in control buyers? Right still looking for this 28 to trade here high liquidity here Now they're not pulling Okay, now they're pulling a little bit a little bit. Okay, let's see it again Higher liquidity here would be great if it moved up even a little bit more Kind of a skew in the auction in the order book See how they pulled though instead now. Let's see if they add though higher A little bit. No, it's kind of a flip Okay, and this this convoluted things here we found uh Some sellers followed by high liquidity here, uh, but uh, some of it looks like it transacted and some of it didn't It was pulled so Some shenanigans some game game playing going on up here. Okay, so um Yeah, that's you know that we we'd have to kind of zoom in and see that Uh, and then now we're back down to here And now they're on the bid here. Okay. Great. What's the reaction buyers? Great. Okay, let's see them come right back up here where it dropped from here 47 and then they should be able to hit 48 if we get our buyers up here We can up end these guys same process here here here Something like that Okay, now we can also remember we talked about point of control This is where we got to get to and and accept and and trade above and that's why this is like a pivot point in here And that's just part of the market structure Okay, so we'll retest down here these guys stay in the order book some of it pulled but they stay in the order book Now we're looking for our buyers here and we're looking for a move to 48 And uh, maybe they can even buy more and we can hit 49 and 50 and we brought up another point here too like Looking at correlated markets. How are they doing? Obviously, obviously this is this is pretty strong in here Apple well getting I mean We noticed this in here and it wasn't it was kind of waning here But we did now we're getting buyers up here And now we're getting even more buyers up here Okay, we can cover another element of auction market theory up here It's transacting up here right, so Your profile It's transacting up here Okay, and is it buyers Then you know it for it it to kind of explore if it's going to explore and have a finished edge up here and kind of You know, you see it just kind of trickle off Then it would have explored this area and it would have had exhausted out But you know, we're getting an auction up here Okay, so we're looking for the pop now and try to explore above here And this is where the order book can be really helpful too. So that's where we read this in here So are they on the bid are they pulling on the offer that it makes it so much easier for buyers to explore that area And you can see they didn't they didn't touch these guys here They didn't even touch the best offer went into it. They did not one share traded up there Okay, so there's another context. We got buyers up here. That's looking good in the auction Okay But we got it. We need to see that Uh Or in the transactions now we want what we want to see in the auction though or the the the limit orders Is not so much up here Or enough buying pressure to trade into and through it Okay, so there's a there's a reason why You know, they don't they don't have enough power to trade into this It's a reason why we kind of trade down the back of the Back down to the bottom of the range here Okay, let's see. We get some so support in here. They're on the bid here. Nope That's gonna be a nice little stop run. Okay, let's see if we get a false breakdown This is one of my favorites actually is the false breakdown Or a false breakout And get back up above that Okay, point of control is kind of shifted in this whole zone in here. It's right here and here are buyers right now okay, so We want to see them and they're above this we need we want we want to see them continue now And then we'll get back up into here at 10 to maybe higher Okay, so s and p probably pulled back We came over here just to look at the correlation. This is looking much better now. Come on buyers. You got it You've they've got control. They're above that point of control Just some buying volume in here and maybe a little bit on the bid And then we you know have have something for it to trade up into 10 here Okay, so let's see This looking for this to trade to 10 Okay, let's take a look here at s and p It is following suit. It is up here Uh, we're back up here where we couldn't trade into and above 48 And buying pressure does not look very strong here at all It looks pretty weak Pretty weak All right, so here we are back down to the bottom of the range and let's take a look at apple it too Again buying pressure. They had it here. They could they could do it There's one you'll see that mount another attack here Now there is no time frame in book map It's just streaming best bid and offer you can see it's divvied up here by the vertical dotted lines Uh, and that changes, you know, we'll zoom out now. We're looking at five minutes between each So that's how you can kind of relate this to your candlestick chart So let's let's take a look at the es because I have the candlestick chart um So yeah, here we have five minutes between each vertical dotted line if I zoom out more Uh, you know, I've got uh 15 minutes. Okay, so Uh, I can I can jump over here at my 15 minute chart and I understand that you know This is the breakout here at at above 40 that we were watching And then looking for that Well on this chart, you know, we're looking for the continuation up into these sellers up in here Basically mcloco's uh, uh, 42 50 uh test So jk over in discord. I hope I answered your question Now this this is getting interesting in here at these higher levels. Um And what we're going to read in here is the structure And it's bearish Now this you you would think like I you know, it wouldn't that really wouldn't make a difference. It does It really does Uh, we want to understand that structure Okay, because we're looking for an attack back up here and try to break out But if it if it makes a lower high here, which it did I'm looking for sellers to try to take it down and make a lower low And uh, potentially, you know, this becomes that rounding pattern here or even head and shoulders or something Uh, and then you'll see retest back down into these lower levels. We've seen it a million times And it is the order flow within here that we're reading is these attacks here by these buyers It's just not enough They tried here couldn't do it tried here again couldn't do it Uh made a lower low here. Here's a pull back again so Let's see maybe it pulls back to about here 46 and a half or so Or you know, look at the selling streaming in here Smaller, you know, now this is not much to hang your hat on but like it is it's the same ideas same concepts We've been we've been covering in here Sellers in here and it's actually below these buyers here So we get a few sellers in here and should get boom 42 or 44 and maybe 41 and 40 Tough read today guys It's just uh That didn't follow through this these are some tougher reads. Uh, you know, I mean, we're still kind of on this hanging on Hanging our hat on they're trying to hang on to this one here I thought maybe this would be it and then we get our sellers, but now back up again Okay, see buyers trying they're trying they're trying Watch it here Watch sellers here at 45 and three quarters Do we get them? Do we see watch this offer here? And it might be a quick move here There's some exhaustion. There's some transactions not sellers Do we get sellers? No Transactions not sellers though. That's not what we're looking for Look at the bid instead and the reaction to it. It's been some buying Still not finding sellers down here at this bottom edge Of this range here Okay, what about the opposite scenario buyers up here? enough buyers Back up to top of the range 48 ish and then 49 liquidity here Yep Looks like they're gonna go for it and now we're looking for something easy A quick move up into 49 Right, we're looking to see them try to take it above this area and a quick move to 49 Okay, so that played out And it's also a quick pull back here Bruce Yeah, uh, hold on a minute. Um guys, I'm sorry. I need to get get going here, uh, and We will uh reconvene on on monday So, uh, anyway, keep your eye eyes open on this here, uh, and we will Uh, oh, we'll meet again at 2 p.m We'll go over the heat map reading And I'll also try to see if we can get this webinar with compass, uh for you guys, right? So, uh, anyway guys gotta go. I'm sorry to abruptly leave like this We will catch up on monday Have a good weekend everybody and we'll see you then. Okay. Thank you