 All right. Good morning traders and welcome to the book map live trading webinar. This is Bruce at book map and We I've been away for a bit welcome back to the webinars. So Just what we do what we go through here in these webinars is Just what we do what we go through here in these Sorry about that. Um, so We we're going through live market analysis here. That's based on our education We have an educational course where you can learn about using book map and order flow how these markets work and operate and then We have these events here so that you can apply directly what you've learned From those this provides a foundation in the education We have live trading Afterwards on Wednesday and Thursday with J. Trader for stocks and scoppelsini for futures again, this webinar here these Live analysis webinars Monday Tuesday and Friday set the foundation We have the live trading and we have an array of other traders that we support With this education so that they can trade any way that they want But using order flow with an understanding of what book map is showing So for example right after this webinar We have Tom B In the traders lab. He'll be going through volume profile and order flow right after that We have Doug plus going through options and order flow Very unique strategy there and then after that we have the algo boys very specific trading looking at algorithmic levels and then looking for a Some sort of edge or advantage in in the order flow there for the trade to work out so These webinars here again provide that that that base and foundation and we'll go through any markets you guys want Anything that you find helpful Thanks. Thanks Alan. Thanks Doug for the welcome back Tom Rob everything so yeah, it was it's been a while so I'm gonna be a little rusty in here But we'll jump right in let's go through the disclosures 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 the risk disclosure Trading futures equities and digital currencies involves a substantial risk of loss and is not suitable for all investors Past performance is not necessarily indicative of future results. All right, so let's jump in and let's See what's happening here. We'll look at the s&p e-mini all right now. I'm looking at the 6e Let's jump over here and take a look at the s&p and zoom out a little bit all right, so I'm Just uh Want to get a picture or feel for what's happening right here and now And then we're gonna zoom out and look at the bigger picture Okay, so the here and now well you can see the market kind of creeping up around seven o'clock On up into this 4,000 level and we can see high liquidity there All right, so the market kind of trades to it and goes back and forth here 930 cash open it retest the low down here Of this swing here and then and then comes back up and we get a breakout. Okay, we are now above 4,000 And it seems to be sustainable so far all right, so let's take a look at some structure in here and We'll relate this to higher time frames. Okay, so just marking up some basic structure and understanding in here All right, so let's go up to the drawing tools and We'll go with the rectangle and you can see I made a shortcut here with the t So if I just hit the letter t, I can create a rectangle very very quickly I can show you where those shortcuts are. It's under here keyboard shortcuts And then you can make them under here. So I find it very helpful Escape to get out of the drawing mode Is another one. All right, so Let's take a look at this breakout here and just just understanding order flow here in terms of the market structure and in fact Let's take off some of the elements in here. We're going to just start off with the basics here and we're going to build out I definitely want to look at the higher time frame, but we're right now. We're going over the here and the now So, let's uh, take off the Point of control And our vwap here Okay And stops in icebergs. We'll add these confluences on a bit later. Okay I want to keep in the sub chart. There we go. Okay All right In fact, we're going to take the heat map down As well and just look at the heck when let's take them all off here And we're just going to look at best bid and offer and this is what's creating the market structure This is the price action. This is pure price action There is no aggregation of this pure price action All right Now it's already starting to break out again and and this is what I wanted to go through why it is Uh more likely uh that it will break out Okay, no, we've got to look at the volume and other events in here, but this is why First off the momentum is to the upside Okay, so we can see that it broke out from here now. Look at the pullbacks in this market structure Okay, there's a little bit of a pullback in here or just a consolidation period and a break Look how it retested this area right here. You can't make this stuff up And it bounced here and here it made a higher high here And we're coming back up if we find volume and we know we can see the volume uh bars down here We're gonna stop. We're gonna look at the volume dots in here We're gonna look for it to try to press further and explore higher prices and look for areas of other high Liquidity to test I can see some in the order book right here Uh in the in the current order book column at 40 20 And I would be looking for a test into that area All right, so now why uh, it let's take a look further deeper at the here in the now Here's why this is a strong breakout Uh Usually On a breakout uh, typically where it broke out from uh, you'll see it maybe do something like this here And then it will let me get the pen tool A lot of times in the order flow We will see the breakout occur here and then a retest where it broke out from And maybe it can solid h and then breaks out again Okay in this case This is a strong breakout And the move is up here that the consolidation is up here Okay, actually keying off of this little level in here Uh, and then we'd look for continuation more likely we would look for continuation in this event Okay, so then what we're gonna do is we're gonna look at the order flow For that to continue. So let's start to add on the different layers in here And it's clear the drawings Clear the pen And let's add the volume dots in here Okay, this gives us a tremendous amount of insight. We're looking at the structure And we're looking at the volume within it When you start to see more buy volume with the green dots here at these higher levels likely You're going to get a price discovery outside of the range Because it takes quite a bit of volume to move it outside of these ranges All right, and we're starting to see that in here Uh, we can see the move to the downside here. It goes back and forth But then the buyers on the other side here and then the breakout Okay, so, um So we're understanding again, uh volume within the price structure All right, so, uh, for example, uh, tom b is looking at, uh, the price structures like this And he's looking at volume profiles Okay, and we can see that there's a lot of transactions in this area here. Look at the profile Okay, this is the strong break even though there's strong volume in here. It does not matter It's only at one little sliver here of the market And then you've got the sideways consolidation back up here This is your low volume node in here. Okay, this is how low volume nodes form All right, so what now if we see this exhaust and we see We're still looking for it to go higher Okay, but if we see something else happen in here in the order flow within this context up here We'd be looking for maybe a retest into this area here And see if price can accept because it certainly did not accept here on this breakout Okay, it kept going And we would look for that continuation. So what we would look for up here In this price structure up here Is we would look for more buy volume at higher levels, okay, and and maybe like higher highs higher higher lows or Even if it's kind of equal highs and lows, we're still looking for volume pressures in here to be skewed more to the upside That is how you get in your volume profiles. You get your p-shaped p-shaped profile Okay, there's more of like a weak top that will be broken Uh in in that arrangement there. Okay, so here we go some little back and forth in here and here come some buyers Let's take a look. Do we get enough buyers in here? Not bad. Let's see it. Let's see it now We're looking for buyers right here right now and we're looking for the move up to here 20 All right a continuation of this momentum in here and we're looking for these buyers up here We're up at the top of the swing Okay, you can see the p-shaped here All right, now we're just looking for more buyers Okay, now this is going to be really telling here. Here's a retest back up here Do we get buyers? No, we're getting sellers. All right, so we may get another move back down to here Or maybe the the middle of the range in here Okay, because we're not finding buyers. We're making a lower high in this little structure here here There's no buying here Okay, look for sellers right here right now and let's see if they can bring it back down to about 15 and maybe even 14 here No, not enough Now we're getting now we're starting to see some buying interest up here. Okay. We're back to scenario number one We're looking for these buyers to break the top edge Okay, and we're looking for the move up into this high liquidity here at 20 Right, so we're reading it in here and we didn't quite know Right, we're looking for this scenario to unfold And we're looking for the buyers in here and we didn't quite find them So we're looking at potentially the other scenario to to retest back down here And then maybe retest back up here again and then get the breakout Okay, so, uh, you know the market has to kind of go back and forth and retest these areas in here So here we go. There's more buying up here now. Did they did they Accomplish were they able to break not yet? They should be able to do it on this rotation here Do we get buyers if we do we should get the breakout now? It's been one two three times here or four times And we're looking for some size in here Okay, now this is good. This is reading volume within structure here. Okay You can see they they just can't quite quite do it yet can't quite do it But we're reading the volume within structure within the structure here We're still missing the other side of the trade though. And that's where the heat map comes in Okay, where might it go to? And it's this it's these were these are where the sellers are up here Okay, so that's what we'd be looking for in this scenario Okay, now this is where it gets really interesting and we get confluence Within these events. Okay in the order flow Uh, we're looking for our buyers up here. We're we're getting them. Okay, and then here here's some exhaustion yet again Still not able to take it back up But are they on the bid underneath here? Okay at a higher level here Not really so, you know, we could see a move back down to our 14 level here now Let's let's watch this one here coming back up again Okay, there's some liquidity here on the on the offer and see that liquidity come in And then we saw some sellers here All right, so now we still may get the breakout But uh, right now we're looking for a test back down to 14 here Okay, maybe a bit lower Maybe hit some stops down underneath here around the 13 and a half could even hit 12 Okay, uh, but then if we can get another rotation back up here We can get the breakout that we're looking for Okay, so we're reading the order flow in real time and looking for these different scenarios to unfold All right, let me get to some questions in here Oh, thanks rob. Yeah. Yeah, I'm uh, yeah Like I said a little you're gonna be a little rusty here to begin with but uh, we'll just you know, the best way to do this It really is like, you know is just objectively read the order flow The more objective, uh, we are at reading what's happening The more likely the outcome is what I find You know, once you start to get kind of cocky and it's like, yeah, it'll do this. It'll do that like no What is the market? What are the market participants telling you? That's what to read. So here comes our retest back up here. Look at them starting to build volume here All right, so great. I high probability we get a retest at least back up to the top of the range here 17 and a half 18 Okay, high probability there higher higher probability. I should say Okay, because we've retested down here and look at the the the pressure building here Okay, look at this guy come in at 17 Uh on the offer here now Let's see. Do the buyers take them on? Yep. There they go All right, so Now let's see if we can get not only up to 17 and a half 18 Now we're looking for our 19 and a half and 20 Okay, we've retested and explored this area down here. It's rejecting and we're still finding buyers back up Where it previously auctioned here Okay, so I'm still looking for 19 and a half 20 See how this uh, it's just so um The read in here, uh, was that we we'd get it in here Right, uh because of the volume pressure at the top edge Okay, and it just failed in here. Uh, we had to rotate back down. We didn't get to 14. I thought we would Uh, and then we saw this cluster in here back on the other side Back up to where it can auction on the uh Uh on the offer up here. That's why we're looking for the continuation at this point Okay, so I hope that made sense to you guys this this, uh You know it This is where it gets a little tricky in here with a shake out or this kind of retest back down here See if there's anyone selling uh, and there wasn't Uh, or not enough and the and we still had buying interest here again This is when we're looking for And this is where you can start to wrap a trading strategy around it risk management management strategy around it In here because of this buying in here we can trade to the top of the range Okay, this is 16 and a half it went to like 18 Okay, take some off now you have a runner looking for your 20 Okay, now we haven't looked at the bigger picture yet. We're just we're just going over the here and now uh, and uh So let let's let's take a step back, uh and look at the bigger picture and what's going on in the order flow here Right, but uh, yeah so far so good Uh, and uh, depending on the bigger picture here, uh, I may well you may consider getting out, uh up here Uh, or you know, uh, maybe you have some sort of other risk parameter in here of letting this momentum go until You see something different, right? You're just gonna have to give up some on that Uh, sometimes it makes you look like a genius like you got out up here. That was your target You're done. You look for the next one other times it makes you look like a fool Because uh, uh, it continues on up So, uh, anyway, um Let's see here. Let me get go over, uh, some of the questions in, uh, youtube Uh, geocap. Yeah, we have a new new product. Um called market pulse Uh, and we just released, um, it's uh It's awesome. I mean, I just can't believe what these developers are doing Uh, uh All these different, uh tools in here and the market pulse, um Is another way of reading the, uh, the markets, uh, because it's going to give you a different input All right, this can give you, um, an audio input Yeah, um, uh, louis it works for for anything. Uh, it's it's done by the aggressor Uh, well at least the one algo we have right now Is done with the aggressor so that, uh, you can, uh, um I use it for any market. It does not matter All right Yeah, all right Unfortunately, I've got to find a way to get get it so you guys can hear this. Um Since I'm wearing headphones and I find this to be the easiest, um for the for the webinars, but uh It might it might work. Let's let's try it. I'll turn it on And uh, we got to go back and look at the bigger picture though guys like I just It's really important. I just don't know where we are in the structure here in the bigger picture Uh, but let's let's play around with this market pulse. Uh, just to begin with Okay, uh, oh here. Where is it? There it is right here. Okay Okay All right, so I have one already on here Uh, and it's uh volume pressure vp Okay, so, um Let's uh, let's play it now. Okay, so I I've loaded it or you know, you can hit the create button Let me show you more where you can find more information about this. All right. So first off That's the most important thing. So get you guys going in the right direction here. Uh, number one Just go to bookmap.com All right, click on the more button here Uh, and then go to the knowledge base Okay in the knowledge base now you're in the user guide section of the knowledge base here We want to be in the add-ons section. So click on that Uh, and then on the left hand side here. These are all the add-ons in here Uh, and then they're alphabetically ordered. Uh here. So here's market pulse volume pressure click on that Okay, there's a video in here that we put together. Uh, and you can you can watch this as well um on your youtube channel, uh and um It it goes through a couple different scenarios In here, uh is quite in-depth here, uh with the text though Exactly what this is how it works, etc What these things are in here, but i'm happy to go through it with you guys. All right, so anyway the The video here, uh, also, uh, I think you will find helpful. So Uh, all right, let's jump back to it okay, and Yeah, this is still looking pretty good here. So, uh, let's see if we get up a little bit higher here up into 24 25 I'm not uh, not too convinced on this here moving up to 24 20 24. Yeah, I don't know about 25 or 29, uh, but Uh, you know, we can see the bit up here at this higher level underneath. Okay. What was resistance here is now support All right, so And there's 24 Okay So you guys can see like that that trade management Uh different ways of looking at this here If you got out at 20. Yeah, you you know you look for the next opportunity If your trading plan is to try to let this run with a Your one your one lot You're you'd still be in it and you you still have reasons for being in it. There's there's no reason to be out of it Okay at this point Okay, you're just gonna have to go through the swings in the back and forth in here Uh, and you may end up getting stopped out lower than 20 Right, so, uh, that's the risk that you take it's that's the risk parameters or the way that you trade Uh, you know, you want to you want to take a look at uh and and understand So for example, uh, you know High a little bit now we're just starting to get into some higher time frame and we're just talking about market structure here Okay, the diagonal lines in here Um, so, uh, you know, maybe you see a lot of selling down here Uh, maybe you want to exit at that point Uh You know or maybe you want to wait for the break of it, uh, you know Let it try to break below here But then still see support and then have it come up for another another high here. I don't know, uh, that's where You know, you've got to answer those questions How you want to manage this we'll go through it, uh, but Uh, you know, happily go through it. Uh, it's really about your trading style though All right market pulse, uh, let's go back to that Uh, and let's get it going here. So now I've loaded it. I've got it for the instrument. Let's hit play Okay, once I hit play you can see it's loading here Uh, it also loads it in the sub chart here now and you see a widget here as well Okay, now we're just doing it for the same instrument here the es you can do it for any instrument you want Uh, you know when you create one here, uh, select it from the drop down anything else that you have loaded right now All right, so now I don't can you guys hear that? It's already beeping on the on the buy side here It's kind of a submarine, uh, ping Did you hear that? No, you did hear that. Okay. Yeah might be working over in youtube Uh, the obs software will pick up on this stuff That's awesome. Did you guys hear it in discord? This little pop obs is great. Um, and freeware as well pretty pretty amazing Okay, I guess you guys didn't hear it over there. Um Anyway, um, okay, so here now it says it's a standalone widget here, uh, and you see sellers you see buyers You see this white line in here as well And that is showing you a threshold When the buying pressure goes over the threshold, you'll hear you'll hear this pop or you'll hear this sound If the sellers go over it, you'll hear this sound as well Okay, now this is where it gets really interesting and different from other products out there Uh, is gauging the volume pressure in here Uh, and then showing it also in the sub chart now. We got a lot of lines in the sub chart. So let's just um Deselect a few in here And uh, just look at the buyers and sellers pressure in here. Um in the market polls Okay, so, uh There's a threshold here at 100 or negative 100 Look at the little green above the 100 here Okay, that's that's when it it went across the threshold Uh, we don't have any on the sell side yet Okay, now we might get it here watch watch and see if these sellers try to break this uh this trend line Or at least test probably down to about 22 here um, and uh, see if they uh You know test down into this liquidity here It looks like they want to I I'm seeing sellers mount here. I'm seeing some on the offer I'm seeing that selling pressure. So I'd be looking for maybe a test down to about 22 All right, and that'll be a break or a test of this trend line as well Okay, again, just very simply reading the order flow Right and then looking for these moves to unfold and then that's where the trade management part comes in And so it's the edges in here in reading the order flow Okay, so here's our move into 22 Okay, now they may come down to 20 Okay, some good selling coming in here Right, so now do we see it in the in the market pulse though? No, not really Well, let's play around with this Well, let's right click on the market pulse and we'll go to settings here Okay, and it pops it out here now you can see that I can control the window Through the the small widget here and I can draw You know Move around the all the different settings in here. Okay. Now the threshold is at 79 And that's where it's set right now. Watch if I move this down You'll see the threshold move down as well. Okay. I hit I have to hit apply. There it goes. Okay, so now it's at 64 All right now the volume is just volume You either hear it or you don't It has to go above the threshold to hear it though Uh, the half life. These are two important ones here the half life period and the training period all right, so, um Pay attention to this Uh, and how these two work that this is really these are really the important settings in here Okay, so the half life period means Uh, well, we'll go over the training period first Okay, the training period Says right now it's 10 minutes So it is based on The last 10 minutes of data and Give me the threshold or if it crosses that threshold within the last 10 minutes Uh of a certain number Okay, you can see the numbers up here Uh that uh on the top here. In fact, let me show you again in the Uh knowledge base here Okay So in fact, there's a nice little diagram in here that that uh, just is your is your go-to here. Okay, so, um I know they put it together come on show it to me Yeah, here we go. Okay, so here's the name of the instrument. Here's your a mute button right here Okay, uh, here is the uh the hide button Uh, this number here, uh is the uh the maximum within the training period So within the last 10 minutes the volume hit the the aggressors hit, um, uh 1105 Okay, uh, and uh Uh, that's that's what we have listed All right, so, uh, this will change over time All right now, uh the the other uh number in here, uh, this one here is the uh, I still hear me Okay Over in youtube. Can you guys still hear me? Okay. Yes, you can. Okay. Excellent. Sorry about that. It looked like there was something something wrong there with a obs And it just disconnected. Okay. Yeah, we'll get it. We'll get it going here with the sound. Uh, no worries, uh, ralph so, uh, uh, I'll play with the setting so you guys can hear it all right, um and Um, so right now, you know, this training period, um is is pretty long. Let's let's let's bring it down to like, you know, three minutes and hit apply Okay, now you'll see the numbers change in here, uh dramatically Right now it's at eight or five 92, right? uh, and uh, now Uh, we still have the half-life period of the fall-off rate that uh, it's it's at 10 seconds Okay, so now we're gonna get we're gonna get more signals in here now And you can see it had to redraw it down here and you saw these signals on both sides This is where you kind of this is why we have it here in the sub chart So you can kind of gauge it like well, I want quality signals Well, right here. It's not really quality, right? It's too it's too high. Um, too high of a setting Uh, because it's both buying and selling just going bam, bam, bam, bam Here though buyers not bad here sellers not bad Right, so it's giving you a little more insight there Uh, and that's what the sub chart lines are here for so over this period in here Uh, you can start to uh, look for and try to gauge now You know when you're going to get a signal or an output All right, so uh, that's the way to uh to kind of use these here, uh, and um gain some uh, some understanding now The the markets are are ever changing And volatility will pick up and it's going to start to skew stuff Okay, so uh Yet again Though our settings are our settings. This is what we have so we may have to come in and kind of readjust a little bit anyway Let's let's bring down the uh threshold now based on these two settings of the half life and the training period Any any questions on this half life and training period thresholds easy, right? We bring that down. We hit apply We're you know, now it's down around 42 and can you you can probably hear it now Okay, now something's going to happen in here. We're going to get some volatility Um, and uh, you're going to hear one really ping or maybe both Okay, and it might be on a break out here Let's see See you're getting it's hitting the thresholds or you're hitting the ping Yeah, so more more buyers than sellers here clearly All right now let's see that was a big battle right It's a lot of noise. Well, I have it down way too low right now Let me I'll bring up the threshold Okay, so basically that was a barrage of trading All right, so let me bring the volume down a little bit more Okay, so that was just back and forth and back and forth, right? Uh, and you can hear the trading act action. It's it's amazing. Um, you know, so but who's winning the the the battle here Well, so far buyers are But let's watch this here Okay, because if buyers can't continue to buy up here You're going to see sellers come in See all the see all the sellers are slamming trying to slam it back down you can hear it Now you can see it too It's amazing to hear how these are actually coming in and then Relate that to the visual here in book map. It really is. I mean, this was a battle in here And it was back and forth Now we had our setting down way too low because there was a period there when it was really dull and then all of a sudden it picked up Okay, so look at sellers now. They're really trying to push it here outside of the range here Not bad not bad on the sell side You know, I like it. So I'm looking for sellers. Maybe we'll get a pullback here And let's see if the buyers then try to pick it up if they don't Pick it up here at 23 if we don't hear buyers pick it up here at 23 sellers are going to come back down to 20 They're trying to drive it right now. You can obviously hear it and you can obviously see it So most likely scenarios. They're going to drive it down to 20 Now you can hear the exhaustion too Right Now here they are again. So still looking for 20 Anyway, I mean you can see like I had it set way too low Looking for a signal and then like we're waiting for some volatility. It did come in And it was it was a battle but who wins the battle is what we're looking for So this was the battle period in here. You can see buying and selling on both sides Now we can see that the sellers won this small battle Okay, now look at this buyer is coming back in Okay, trying to reach back up here Okay, so now what we haven't gotten a signal yet, right? So this is still this is why we we talk about this for years in here about who's in control in certain areas Sellers are still in control Okay We got to see buyers back up above here around this 23 Back up to you know top of the range here if that's going to unfold here Okay, so sellers are still in control Right and I just I don't see any selling or buying pressure come in here. I don't hear it I don't I mean I see some but I don't hear it Right, so that that kind of kept me out of like, oh, okay, you know buyers are going to come back up to 25 right away Well, they're not Okay, here's some exhaustion here Let's see if we get a little more selling down here at 22 if we do I'm looking for the move to 20 Okay, now how are those sellers doing here? Uh, it's it's it's a lull right now, right? Not not a whole lot going on Did you win Jay? Yeah um, but anyway guys This is this is really this is like a I've been I've been kind of describing this like to the team as like, um, uh, a new, um Look at this. See how like they we come back up here and sellers just slam it down, right? Just slam it down like that So I don't know I'm not really getting too much out of this right now I see the buyers creeping back up. I see the seller slam it right back down Okay, so I don't know Okay, but if I see sellers down at this bottom edge And I see a lack of buying up here I'm looking for them to break it down to 20 Okay, you can also look at your height. We're at the high volume node right now same ideas Same concepts here in your volume profile. This is your high volume node. All right. Well What's it going to take to to break away from the most traded level in here? In this range it's going to take a lot of volume so we can listen to market pulse Uh, and we can watch watch it unfold here, too And play around with the settings and like I said use the sub chart in here to give you insight Like when when when did it give a good a good reading in here? Well, then, you know adjust it For that So this is creeping back up on low volume here It's able to do it Sellers aren't aren't getting in the way here. Now now we're getting our buyers And boy, we should see a stop run in there, too We can turn we can turn on stop runs Yep, beautiful stop run right there that was that buying So now let's take a look at That was a stop run so always what we look at in in This is this never a signal in here With with stops in icebergs. It is a confluence Okay, we know the condition of these orders a lot of them are stops Okay, this buying in here are stops. So what we're looking for is new buying Do we get new buying up here? If so, we should get a breakout 28 29 30 And they're they're starting to do it Yeah, so, you know It's not this is not very convincing though So in terms of an opportunity like I wouldn't say it's very good They're starting to this is new buying in here But you know, maybe they'll get on the hook here and they'll be that these new buyers will be The sellers down here in a stop run And we look for something that's a lot more convincing Yeah, I like it too, Eddie. I think it's pretty pretty awesome. Um Yeah, guys go go try it. Um, I think it's I think it's free Right now Play around with it So you see how this is like it's still doing it here. They you know, they're it's still kind of creeping higher here But not on really high volume So, you know We're looking for volume to drive it away here and we found it in here But we weren't we're too convinced by it because it stops Anyway, let's let's jump back here. Let's look at our bigger picture because we haven't yet and and you can see this See how this remains on top here So, uh, you know, you can play around with that. There's a setting for that as well, but um Anyway, it's uh, it's remaining on top. So I'm going to move it over here to a different monitor Uh, and then let's take a look at our daily on the left here are hourly in the middle and then on the right are 15 minute Okay, and uh and see what's happening in here All right, so uh our daily chart. Okay, so, uh Well, I think we left off. Let's see here. I I was I left on the 31st here So down in this chop in here And uh, yeah, we see the move move to the upside here. Nice Nice nice move pretty nice. Um Uh And I know bitcoin really bolstered higher as well Uh, but let's let's take a look at this and I'll just use the pen tool. It's so much easier. Um Then the rhythmic tool So hold on There we go. Okay And we'll use yellow. Okay. So what do we have in here and let's just take a look at the same exact uh analysis uh, and um uh, the uh By looking at breakouts acceptance rejection, etc So this one broke out up to and tested this swing here Uh, and then it broke down And traded back down in this area I really thought like we were going to get a test down to here Somehow maybe in in these lower wicks down here and we did not Um, it really um kind of stabilized right in here Uh, lots of back and forth days in here probably really frustrating end of the year And then we see our breakout here Retest back to where it broke out from right here and it continued on higher Okay, so it continued on higher to where we found sellers come in here Hey now could have gone higher Uh, this is not showing us much in terms of buying pressure though in my opinion Uh, and then we see the sellers retested back down to where it broke out from in this area right here Okay, so here's our retest here Now we're coming back up and retesting the high All right, so well, that's good news Uh, there's a couple wicks up here on that daily and it looks like pretty strong action here the last few days Uh, Friday or uh, and then uh, and then today here, uh, so uh, yeah I would look for you know, uh this to continue on higher up into uh, this range up here, which is uh Let's uh Clear this all now And oops, sorry Uh, yeah looking for the kind of swing up here. So that would be what 32 40 32 Uh, and and if we can get up there and we still see buyers We're looking for it to extend higher up into these ranges up here So anywhere from 32 to 50 Uh to um, uh, you know these kind of mid 80 numbers up here All right, so uh, that's what we're looking at here. Here's our hourly in the middle It's giving us a better picture better understanding here Look where the sellers came in Look where the buyers are taking it right back Okay, so Um, and these are these are both strong on either side here sellers are strong buying buying is strong here too though Okay, so right back up here And I would go with the momentum in here just looking for these buyers to continue on up and test Our 32 area up here. Uh, maybe a little bit higher as well. Okay 35 something like that 15 minute same same concepts same ideas here just looking for those buyers to try to take this higher Now we've got to look at the the opposite scenarios in here on these higher time frames because this has been nothing but strong in here Um, as as you guys can see strong move here from um the 19th on friday and then uh, uh, basically Um, uh strong again here now. These are regular trading hours in here. So Not only the weekend gap, but also the daily Gap so Anyway, we're back up here We've got to see buyers come back in and try to break back up above Okay, so far so good until we see something different. We're going to go with that move all right Ralph, how do I know it's new buying versus new selling? Okay. Well, um, or a new buying versus versus, um, uh stops Basically, uh, that's really quite quite simple. Um, you know, we can look for our stop run and here Let's take off market polls for a second Okay, uh, here's our stop run right here. It relates to this volume here All right, so, uh And let's zoom in here now Okay, and I I want to show something else in here But this market polls because we're demoing it just within the es here, which is good. That's good Uh, we're getting a sound, you know another another way looking at another way of understanding the market or sensing the market via sound uh, but the uh Is this is really going to be helpful that we have multi sensory understanding They're still selling Now starting to dry up now watch watch these buyers try to come in and try to reach it right back to 29 and a half here And what that selling is can also be a stop run up into 30 and 31 And let's see if we get that Interesting moves here. I mean, this is like a low volume move here. Uh back up here. We didn't hear market polls right So anyway, what I was wanted to go over in uh in here, um Before I forget and I might have forgotten. Um All right, let's see these let's see these guys push it here up at 29 and a half Now i'm looking for the market polls to just we should start hearing the buys hit Right and try to solicit a stop run here Okay, and we'd be looking for that in here Okay, look at them on the bid here underneath and we're finding buyers. That's good Let's see them attack 30 And then take it to 31 No, no interest so far Okay, so we're going over stops. That's what we're we're talking about. Um So, uh, yeah, we'll zoom into this little area in here. So guys still still looking for it. Um, it might start to exhaust out a little bit, but uh If we get the sellers on the other side here, then yeah, you know, we can come back down to 26 or so Uh, but uh, let's look at this area in here. Okay, so Uh, how many transactions took place in here? Let me get the stops on chart as well here Okay, this will this is really where we can we can see it Let's see here and let's take it all the way down to zero All right, great Okay, so here 390 transactions that took place here were um Were stops and that's just fact Okay, now the beauty of this fact here too. Let's take off best bid and offer for a minute Like we can see precisely when these start to unfold. See the red line in here. This this was a stop here to hear These were stops It's just fact right. We know this by the mbo data And then another stop run up above here Uh, and and we know that Um These are 294 that were stops and a stop run here All right. Now look at how much in our cvp column here Geez, we're getting a nice breakout. I bet, huh? Um, look at the uh, cvd or the um, Uh cvp, okay, which means chart range volume profile and you can see Basically nothing but buys in here except for these little orders in here, right Okay, so now we can kind of compare and contrast right, so, uh Let's just Yeah, let's just take a look at this data here. All right, so how many orders transacted in here, right? Well, here Here's like, you know two three hundred Uh, three hundred and eighty, um, or something like that well Out of all of these orders in here the majority of them are actually stops Okay, so because we have three hundred and fifty or so that are actually stops So the majority of them are stops So clearly it's a stop run and the majority of the of the transactions within here are stops Okay, now it could be stops to enter. It's true. Uh, however, we we don't know that Uh, but when you see when you see events like this triggered It's a stop run Because there are stops in here triggered. There's more under, you know, uh on the on the next level and more on the next level So it's cascading stops on the way up here three ticks Okay, three different price levels Uh, and uh, you know, maybe you know, maybe it's possible There's a whole bunch of buyers buy stops in here here and here at these three price levels I kind of doubt it. Um, there will be maybe some but, uh, uh, they're probably You know duped and we we mentioned the scenario in here that they're probably Uh positioned down in here Going short or in here going short and then getting stopped out in here All right, so and what we're talking about in terms of this breakout here It's kind of Not a real move in essence Because the volume behind it are stops Okay, it's not people entering the market. So what we want to look at here is your volume event And this is something scott pulsini talks about. This is your volume event What happens? Uh within that volume event Uh, we know we know that it's uh, it stops for the majority Hey in this case and then not always sometimes it's half sometimes it's a you know, you see a stopper and you go Oh, whoa, it's a huge stop run and you take a look at it and it's not Uh, a huge stop run it's uh You know, there's just a lot of uh other buyers in there, but you know, uh It might look like in the sub chart here. Like it's a huge run. That's why when we come in and compare them now we know Precisely out of these like how many were how many orders transacted in general And how many of them were stops Okay, so this move in here and now this is and this is what scott does He uses a line in here to kind of mark it up And and look at that area in here and start to understand like, okay What happened after this volume event? That's what really matters here because if there are new buyers that come in regardless of a stop run or not It does not matter Okay, if you get new buyers coming in and this is new buying in here anything after this That's not a stop run and you can see how it's kind of flat in here. So this is new buying This is also new selling in here Okay, so now you can start to look at this area after the event here And start to understand like imbalances in in the orders here or of the players There's actually more selling in here. That's maybe off balance Well, then I would look for if you can get new buyers up here again You're going to get another stop run up here because this selling in here Is going to have to be the fuel for the fire to the upside as they exit Okay, I know that sounds kind of complex. It's not It it's really simple. Please ask questions in here Uh to understand this though. It just means that just think about it yourself Like if you saw this move and you said, oh, that's that's bs. It's going to trade back into the range Uh, and you started selling in here Okay, well You're going to be caught off balance up here and you're going to have to exit All right, unless you want to be stubborn and and not exit and have it go against you like this and ruin your account All right, so uh now look here again This is what we're talking about all of this in here again followed by a stop run here Okay, all of this in here followed by another stop run in here All right Now again, these aren't using the stops and icebergs in here gives really deep insight Uh, but it's not to be used as a You know a signal it's not a signal service Okay, it really gives you we're talking about order flow and then what stops and icebergs are showing you are the order types Transacting within the order flow and that is amazing Okay, and we're able to put this piece the pieces together in here So look at this move unbelievable All right, now we kind of missed this move here because I was explaining all of that and that's I hate doing that guys. I'm sorry but You know, we're here for the education and we're here for the live analysis but um We did say earlier that In the higher time frame we're looking for the move because this is pretty strong momentum here We're looking for the move up into here Right, and we're even above that here on the hourly right now So we're we were looking for the move up into about this 32 33 area something like that and we're above it already Here we are on the daily breaking out of these two this range here these two two wicks up here Actually, uh, it's still strong. Very strong momentum here. We might still go higher, but we're going to get a pullback in here and I would be looking for and it's just a scenario to look for Okay, we will look for the order flow to confirm the scenario. That's that's the way to look at this and This is where order flow can can really help you. Uh, so, uh, for example, if we look at, um The scenario here is like, uh Some profit taking up here some stops being triggered and a pullback and a pullback to where top of the range here 22 something like that Somewhere around in here just to retest for the market can take a little bit of a breather Retest and bounce off of here. So that would be the scenario that we're looking for now Does the order flow to support that it's not even close right now. It's not even close to it Okay, uh, uh, it's been nothing but, um, uh buyers in here. Actually, I'm gonna I'm gonna take some of that back a little bit Um strong buying strong buying some selling Not the strongest buying up here, but they're still breaking out and they're still buying but we're starting to see some sellers in here Okay, this is a little bit different. Uh, where we saw like buying in here in the breakout All right, so, uh, now let's look at the back and forth in here Hey in this range in here Okay, so that's what we're talking about this we're going to talk about this range of price action here All right, so Uh, let's just delete that now Oh, we can keep it. Um Okay, so, uh, yeah, let's take a look at this in here. All right, so what's going on in here Uh, and uh, oh do we see maybe a slowdown? Uh, do we see what's the volume look like? What's the order book look like in here? Order book looks pretty strong on the bid here This is great Right now if we just get enough buyers in here we should come up 45 Right, they're starting to pull on the offer already up in this area at 44 I'm just looking for buyers in here and then hitting 45 Okay, maybe maybe 50 maybe we can get up to 50 here. There we go. There's 45 already Okay And let's see if we can get higher Okay, another stop run Yep, still on the bid here now are we getting buyers though the bid the bids up a little bit higher question Now, do we get in buyers? Yeah, we are. Okay Now there's a big seller coming in the red area right there and reaction was some selling Okay, so we're reading the buyers and sellers within this price structure Uh, and uh We had actually we already broke out of this one is to create a new structure And now we want to read the go through and reproduce the same, uh analysis here Okay about buyers and sellers within this range Okay, and this is the range here From here on up All right, now we're starting to see a little bit of a switch here Okay We were looking for more buyers at this higher level in here and now some sellers come in Okay, and this buying in here is not so strong. They were coming in, but it's not the strongest There's stronger sellers actually All right, so now can sellers test it down to about 42 and a half Maybe the bottom of or Yeah, this would be the first one about 42. Okay where it broke out from Uh, maybe they can test it down to 40 Let's take a look I can put best bid and offer back on Okay, uh, correct Ralph the stop indicator just shows you the transactions of stop orders We do not know if they are opening or closing a position However, when you see a string like that we showed Of one after another That is pretty indicative of a stop run And that is people exiting Okay, it's an assumption But we see it all the time. All right, let me get back to discord anything in here Uh, and let's move our market pulse back here and I want to show something more on on market pulse here Uh, the es pro chart, okay, um Panamets, um, I'm not sure what you mean by pro chart. You mean the um, uh trader map pro. Is that what you mean? All these new products and they're so good you guys. I mean look at how much insight we're getting with stops and icebergs Look at how much insight we're getting with um The new market pulse tool Uh, we were even away from the market and we hear it Uh, and then the trader map pro. Let me show you how much insight we can get with this Um, okay. Okay. So we uh, that's what you want to look at. So let's look at trader map pro I I've got it up. I've got two different, um A trader map pros up the first one here is showing from one. I'm sorry, um 10 to a thousand So filter the heat map out filter the order book out To show only 10 Or more so look at the you know, you can see like there's a spread in here on the es Typically you don't see much of a spread at all In the es but that's because I'm looking for a 10 lot in here Uh, one order that's at least 10 or more. Now this one's 12. This one's 12 All right, so it's filtered not only the um, uh the current order book here But obviously that applies to the heat map. So what that means is this is where there are bigger players up here at 48 and a half or or 50 Or on the bid they're down here. Now. That's just 10 lots. Okay, or fifth at at 40 43 and then down here at 40 All right, so this is in a fascinating tool This is where larger players are So maybe you want to play around with this Uh and uh and look for the reaction to the larger player activity Only and filter it out Okay, now 10 lots Is it's mildly giving us some insight. I've got another one here. That's a hundred to a thousand lots Okay, so in here that is Okay, and uh, what kind of insight is it giving us? Not not much Today Not much. Okay. Here they are way down here Now what that means though, if you're longer term higher, you know higher time frame, uh trader Look look down here at 31 and 28 If we see a sell-off now mark match that up with your, you know, kind of market structure in here Just the same way that we're doing it Of looking at market structure Like this is a big breakout from this area. Well, they're down here on the bid now They were on the offer now. They're on the bid down in these areas here All right, so uh, uh, yeah Anyway, uh, so if you see like some pretty big selling coming in Uh, and the structure starting to break, you know and maybe more on the offer big red dots likely the the area would I mean if these guys don't move this is where it's going to go Because this these are where the buyers are So here they come already Look at that All right, great. So where do we think where they might go if this is selling that's coming in? Well, let's jump back to the to the 10 lots All right, I'd say here 43 Okay, maybe maybe 40 40, uh, or am I sorry 41 and 40 as well Okay, they should come in right here right now if they If we get our sellers right here At 44 and a quarter All right sellers, let's see it and let's see the drop into 43 This is just fascinating to me. I mean like how We can read and these guys pulled down here at 43 and now they're down here at 41 There's our move to 43 already Okay, but I I still think it has more more room to run here It's 40 40 is looking better Okay, we just we got to get those sellers in here now. What's fascinating about this is how We filtered out this heat map and looking at the larger players. So a line One of the suggestions for using this, you know play around with it and and see what works for you um, you may find that 10 loss doesn't give you much on the es it's going to give you a lot um In in something like Uh, I don't know a lighter product like crude or or maybe a gold or something Uh, but It also the es maybe 10 losses a little too too too much. I don't know for the nq So you got to play around with it and and see what you like What gives you insight here? I just kind of threw 10 in here I've noticed even in the morning 10 works pretty good in the afternoon. It does not Which is funny It doesn't give me much insight That was that was like a month ago But uh, you know the you'll have to create a new Trader map pro at that point Okay, because uh, once you edit it, um, it's going to Re-filter all of the the whole thing The entire chart and historical chart Okay, but look at the insight here. I mean, this is great Okay, any questions? Ralph let's see here. Ralph. You've been asking some really good questions. Um, is it pretty simple eddie? Is it pretty simple connect rhythmic in ninja? Yeah. Yeah, it is. Um We don't recommend it going through, uh, ninja Um, they will strip out the mbo data. So it's better to Uh Basically the best way to do it is is use and that's what i'm using actually is um Download and install Uh Your rhythmic pro trader Uh platform and it's pretty rudimentary But then connect you can connect um Your rhythmic Or i'm sorry your ninja and your book map to this product here So now you're getting good, um data Directly from rhythmic into book map All right So that's one way to do it eddie Yeah, there are other ways to do it Uh reach out to support on that one there are experts on that Ralph let's see, uh, what's your thinking on the significance of stops opening versus closing a position Okay, didn't we cover that I thought I covered that for you? Yeah just to uh summarize um I'm looking for what happens after the stop run Okay, let's suppose it's a breakout trade and it there's buyers breaking out from an area But they're all stops or the majority of them are stops. I'm very leery about that Okay, I'm looking actually probably likely very likely there's going to be a retest to where it broke from Maybe even go lower Uh, and maybe retest the high volume note of that that range what broke out from Uh, but if we do see buyers come back in Uh, and it gets up into that area again and you start to see big buying I'm looking for them to Continue the move and break out Um, and it would be a sustained breakout Okay, so it it it's it depends but understanding that context of the stops Is really what matters okay after the event Does that make sense? It's like uh, you know, uh You know something something happens and like Uh, I don't know. How do I put this like a bunch of soldiers go into battle? I guess let me see if I can put this analogy together um, and uh You know they all get killed You know Is price going to or you know is did they really Capture the battlefield? Not really right? Maybe price hangs out up there Maybe there's no one selling or maybe the other the enemy is not willing to kind of recapture their ground again yet Okay, or Maybe there are uh, the enemy comes in and they're ready to to ram it right back the other way Okay, and they need to look for those sellers Jesus this thing's not stopping. Look at this move guys. I mean this trade this market pulse is just going crazy. Um So we're up at 50 now Okay, Ralph. Does that does that analogy that kind of makes sense? Like, uh, you know, you think about that battlefield and like these buyers like they were able to break through um and And you know take on and capture some of the land there, uh, but uh, uh, then they just all got massacred Right and if you do see the the enemy come in and let's say they're the sellers, uh, and they're able to not only like um battle with that ground they're able to take it back down lower Okay, so, um, if those buyers break through and they're all massacred, but then there's another wave of buyers. That's what matters Okay, so it will likely accept higher Yeah, I mean we don't know if it's a if I mean if it's if it's a buy stop Okay, we don't know if it's for opening or closing True Okay, again, if it's a short squeeze, okay, let's go through it again All right, so here here's here's like some shorts being hit, right? All right, so This is highly likely A short squeeze All right, uh, because look how the selling came in And it went higher Continue to sell and these are all stops being triggered Okay, so now there's a whole different array of scenarios that could be this in this stop run in here All right, so, you know but basically It's going higher because other stops are being hit And they're buying and they're just aggressors and they're just they just continue to buy to a certain point And then it then it basically stopped Okay, right here You'll see different stop runs in different ways sometimes you see that this was very thorough all the way through One two three four price levels, right triggered here Sometimes you'll see like this red line doesn't start until here up here So what does that mean? Well, that means an aggressor came in and started buying this thing up until they started triggering Stops now the stops could have been triggered in here But they they were filled here. So they were slipped All right So, uh, uh, it depends There is you know A queue in the order book, right? If you put your bid in like you're at the end of the queue until it comes to the front There is actually an order queue Also in the aggressors So if a big player comes in and hits market buy and they sweep the order book They fill all of the liquidity at this level this level in this level Hey, and then let's say the order is filled. They have the right-of-way or like they're going to get filled first Okay, now what we're talking about here is is we're talking about, you know the, um Mechanics market mechanics here really what unfolds and book map is beautiful at displaying this Yeah, I've never seen anything else really Visualize this in a way to explain these concepts Uh, because it's just book map is so visual and we we're able to go to these sub second levels Okay, like true microstructure not seconds, you know, we're talking like sub seconds down to nano seconds Uh, and um, and we can display it all. So, uh, therefore these concepts can be Visualized So anyway, let's suppose the the stop run doesn't happen until up here at this price level of 49 and and and a half All right, so this is just one big player came in swept the order book And started to trigger some stops along the way Okay There might the stops might have been down here, but he has the right-of-way Right, his orders are going to get filled first Because he's the aggressor He's the one that swept the order book and if he triggered any other orders along the way in here Now they are going to get filled up here And that's how you get uh slipped and and stop runs All right, so anyway, uh We can go through this all-in detail again and again and again and we do our education You know, it's that's one of the beauties here in book map is we can cover things like this Whereas I think others have a real hard time going through Some of these concepts Because you're looking at something like candlestick chart. You're trying to cover it in something like this Good good luck, you know So, uh, anyway, it's all here data is all here At at these really sub second levels if you want Right. All right. So now let's go back and take a look at what we were just looking at here. Okay, we got to move up into 50 Okay, and then I I can't recall where we left off. Um we're looking for um The we're looking at the heat map or the trader map pro in here And where it might trade back down to And some of these levels in here you can see it, right? So this is where that ten lot is they're down or ten lot or greater is down here at More of them are down here around 42 Okay, so yeah, I'm looking for sellers are coming in. So let's see the sellers bring it down to 42 Okay, if they can and now 42 maybe starting to pull maybe go down to 40 then beautiful Okay, look at the offer here Trader map pro. What's the reaction here to? This high uh liquidity on the offer. Well, they they just pulled But we're still finding sellers So i'm still looking for sellers to try to take this lower 40 Makes sense Let's see sam, uh stops that close a position are more forced So more aggressive moves Uh, not sure I quite understand. Um Are That close a position are more for it. Yeah. Yeah. Well, that's that's true. I mean, they're they're compelled they They couldn't they couldn't take the heat or you know, um Yeah, maybe it's even a liquidation Uh, and that would be an aggressive move that is correct. Yep, exactly So here's some more sellers here coming back in. All right, let's see them hit 40 Now I know these are small moves here, but like the and why we do it in these very small time frames here is because You know It's it's just great education Uh to go over the concept and then see it play out in the live market But it's really key to understand though that these moves are fractal That they meaning that these kinds of moves happen on all time frames Okay, so, uh, uh, you know the same the same idea like like a flag pattern in here Um, you know, you can see maybe several flag patterns in here Here's one right here breakout consolidation breakout again, right? Well, let's just zoom out Uh and look at the bigger picture here. Oh, I don't have it in trader map pro Let's let's zoom out here. Okay in the es and look at flag patterns. Well, you know, uh You could say that On a higher time frame This is kind of like a flag pattern move up consolidation move up again Okay, so there's the fractal nature of these these markets that can really offer a lot of insight Guys, I I've got to run here. I'm sorry. Uh guys hit the like button, please. Uh if um You know, you like this kind of education um We really try to offer you a really high education That you don't get elsewhere Um and hitting the like button and subscribing to the channel really helps us to continue to bring you more of this So for example, uh, we have tom b up next All right, he's uh, uh and right after that we have dug plus We have a beautiful lineup of traders guys. I mean all day long Come to our discord channel It's fantastic stuff in here Tom is going to go through volume profile in detail And uh, dug it has a very unique options strategy It's amazing. So you know, uh, if This is setting the foundation ask these questions just like ralph is understand these concepts in here And take it to the next level with these other traders All right, that's what exactly what we're here for Uh, so uh, uh, yeah, thanks guys. Thanks for coming hit the like button Uh subscribe and uh, we'll see you tomorrow and do it again Okay All right, thanks guys. Uh, we'll uh, we'll see you then take care Get get ready for tom b