 Good morning traders and welcome to the book map all markets webinar. This is Bruce at book map We'll be going through live order flow analysis using book map I'm your host Bruce. I am the lead educator here at book map. This is a book map I'm your host Bruce and we We do this webinar every Monday Tuesday and Friday at 10 a.m On Wednesdays is J trader a stocks trader on Thursdays at Scott fulsini. We have a host of other traders All day long in our discord and YouTube channel Let me show you where you can find out more about that if you go to book map calm And then click on the more button here. You can go to our new learning center here. Click on that under resources There's you know some guidelines here if you're new and Then in here join an event. Well, you just just basically scrolls you down the page You can see our streamers in here and then this is our calendar here, right? So we have all sorts of events in here Note that on Monday There are no events. I'm sorry. That's not true In fact, I need to This calendar is not working quite right. It is new there are two events that will Take place on Monday. It is a US holiday this Monday. So the markets are closed However, not in India. So on shul will be going over book map in India And then Paco We'll be going over the Brazilian markets. This is in Portuguese, right? So those two webinars will occur Anyway, check out this new learning center here. We've got all sorts of Connections course or getting started course market mechanics order flow phenomena add-ons and insights All sorts of links to other things up here as well in our community. So It's a great place for coming to find out more about how to read order flow And utilize book map. All right. So yeah, you can reach out to me on our discord channel And my Twitter is at flow order calm or at flow order Let's go through the disclosures and jump into these markets all book map limited materials information and presentations are for Educational purposes only and should not be considered specific investment advice nor recommendations risk disclosure trading futures equities and digital currencies involves chance for 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 over here. Good morning shadow and Let me Go to our discord channel now to Our morning Hector slow down. What welcome back slow down. Nice to nice to see you You've been doing really great work. You know, we're gonna talk more about this bookmap junior Academy I know I keep teasing everyone about it, but it will launch here very soon and Very excited about it And It's by invitation only if you are interested in something like this It's I'll talk more about it, but I would recommend that you join our Bookmap blue jacket Competition. Hey, so I can show you where that is too on bookmap.com and then It's Jack it hold on go That is not it Here it is All right, so I'll put this link into the chat for you guys, too and Yeah, it's a competition you you create content and The best content wins three months a book map with data. All right, so Like I said, I'll put that into the chat here for you. It's kind of a precursor to this bookmap junior Academy and bookmap Academy All right enough on that that stuff the holiday on the 19th June this Juneteenth on Monday, so markets are closed no events except India and Brazil and then another thing too like we've gotten a lot of questions and support for those of you maybe new to Futures about rollover. You should be on the you contract the September contract here for the quarterlies and The 6e the the bonds all that kind of good stuff anyway You can see we just had some data here right at 10 a.m. and Let's see Pull that up here on Okay, and also want to talk a little bit about the Fed and and what's going on in these markets in a bigger picture Because and we'll get into the order flow, but there's a theme. I want to go over today I think it's really important and we're going to talk about breakout trades and trending trades All right, so and and what to look for in the order flow in fact. I'm looking for it right here right now I'm looking for buyers up at this little corner up here And I don't know if no I don't see him. Okay, so I don't think it's quite ready yet So anyway, I'll cover more about that in just just a second here Let's see what was the the data that we just had here 10 a.m. of the oh Yeah, consumer sentiment University of Michigan and Yeah, a bit better better than expected. So that's a that's nice, but And you can see the bump up here All right, let's take a look at this again here and I'll show you what I'm looking at and what I'm looking for the book Looks good. See the support underneath here. That's good I want to see these guys maybe pull on the offer here, and I'm looking for buyers in here. Here. They are Okay buyers. Let's see you lift it up into 82 Maybe we can get up into liquidity up here 85. I may be higher. Okay. This is a really really simple set up in strategy and Just and there we go. There's our 82 82 and a half and this is what we're gonna talk about today. All right, so And and talk also about risk management in here, right? So this is still good it's still on But we'll talk about how you would want to manage this because you don't want to turn this winner into a loser Now again, this is not a trade recommendation. We don't do that in this room This is about learning about how to read this and look for a higher probability outcome in your trade All right by understanding the participants in the auction here All right, so this was what a Set up in here, right and now look where you would have been getting in here It's a horrible entry, right at the top of the range is where you're getting in All right, and and we're looking for just to move up into 82 maybe 83 and 85 You know, it's it's up to you how you want to manage this If you if you want to take some off and give yourself a little bit of breathing room in here And then try to look for a runner here and then look into the behavior here So look at the book here. This is not what we want Right, so is this gonna work now? Yeah, I don't know. Let's see if we get our buyers up here, and I'm not seeing them Okay, now the other opposite scenario in here What if we start getting sellers down here at the bottom of this little range in here? All right, so this is making we're gonna talk about this and we're gonna you know We're talking about trader psychology as well And that's gonna fit into the trade management part of this though Okay, because that trader psychology stuff. I like I said, it's a I think it's just a bunch of hooey You should know how to manage your trade as simple as that and You can take all that trader psychology stuff and toss it Okay, how does this mess with your head in your trade management? How are you gonna react? Okay, that's what's key here Anyway, let's cover this here on a higher time frame very very simple and I'll show you another example I actually took a trade this morning during some meetings It's not much, but it's something to show you guys and and show you how I managed it in here as well All right, so we'll go over that but let's start with the higher time frame This is a weekly chart here now. It's kind of funky data in here and I don't know how to overcome this to be honest I Rhythmic always seems to if anyone knows I got there must be some sort of refresher in here or something I hate the way that it shows the weekly bar way up here It should not Okay, we can look at our daily bars though and this one's really clear I mean look how strong this one guys. We've been looking at this we called for this Way back way back And We started to see the breakout we saw the bullish behavior. We're looking for Continuation we're looking for momentum. We're looking for this to break out of a range and continue higher and That was the only read In here right and you can see these are days in here. So this was several days But look at this strong breakout here and look at the days in here How far did this retrace? Not much Right. This is a talk about a flag pattern. Here's our move up It's back and forth in here and then continues to break out Right now. We have all sorts of fundamental news. We have FOMC we have non-farm all these different things going on at the same time as well and But it's all supportive in here for this bullish move and this is the technicals that we're looking at Right. So what now it might have been different if In we'd see maybe back and forth in here and then sellers at the bottom of this range and then a pullback into the range This daily big range down here for several months even like years No, not years but You know several months in here The the weekly is we use at that Breakout of this huge range here. No, no doubt about it. This is back in 22 So and we talked about this I Remember I forget who was on with the in the discussion. We're looking for maybe possibly 4,300 Last week maybe last Friday And it came the market came pretty close to it didn't did not make it we're looking at this swing here and We can see what ended up happening. You broke up above it And we talked about it. If you can get back up into this area in here We don't we're looking at 4,400 4,500 4,600 4,600 is up here Okay, and I still think that is the target basically up in that range up in here But you know, we'll see the The momentum is there though now is this trade that I'm talking about and I may have to jump over to show this in Investing comm here because I we've got all the data here. This is a monthly chart and this is a monthly charter the S&P E-mini and this is where we're it looks like it wants to go up here and that is 45 83 to 4,600 it's very strong breakout for the month and the month will end in a couple more weeks here We're about halfway through the let's look at the weekly though okay And this is the chart I've been looking at Looking for the swing up in here in this zone up in here of sellers when the sellers came in and moved the market away So yeah, 4,500 looks really good to me. We're pretty close to that as is And we can see the strong moves in here and you know, we talked about this back here In the breakout in here and then we look for the the move up into this target here Which was around our 40 above 4,300 and it just it was bullish the whole every week Okay, so this is our extended week here and Yeah, we continue to look for it to go higher until we see something else So anyway now the way that it gets there is going to be a lot more convoluted and challenging And that's just trading but this is what we're looking for bigger picture now What I want to cover today is this pattern in here Okay, and we're talking about the weekly here, right? It's this breakout in here Right, this is what we're gonna look for and that's where we dive into book map and this is what we were looking for Here right here and on this breakout now it failed And we'll cover this in just a minute here But this is what we're looking for we got it and then when we left to this and started look at the bigger picture We started to note this behavior in here and we're like well, wait a minute. This isn't really what we want to see We want we don't want to see more Supply here at this lower level in here. In fact, we don't want to see even these guys here We want to see them getting out of the way like they did in here Okay, we were looking for this That the the the book was showing more The book was it was it was right around in here the book was showing more on the bid at a higher level They're starting to pull on the offer We're looking for the breakout up into 82 and then maybe 85 Okay, we got up to 82 75 or 83 liquidity right here And then some back and forth still bullish then this is not looking so good Hey, what are these seller these sellers stayed in the book and they got filled here. That's what happened in the auction Okay, and then our pullback here. We're still looking good here Okay, now this high liquidity in here. This is where we get into the context and reading the behavior Now we know what happened Right, but the the reactions or your actions have to be consistent. You have to know what you're looking for and Look for something that you know works and gives you an edge that that's really the key here So that takes experience Or back testing and understanding seeing this many times over And then knowing that you have a scenario that you've covered many times And then you look for the expectations And to move in your favor right so Or you have expectations for the move in your favor the The the liquidity here. So what happened in here? So we saw that we got our buyers still looking pretty good It broke out and then Well, they actually started to take these guys on so this is still bullish Hey, they still they're taking them on so that's good still staying in the trade here That's the behavior Just because there's high liquidity This is not what we want to see and I especially don't want to see this high liquidity here That does trade and buyers couldn't get through it Okay, but did we get sellers down here? No, so the structure is still in play Okay, if we saw sellers down below in this area below these swings That's where the structure is broken and we can get the sellers to move into the lower areas of liquidity Okay, so back and forth buyers take these guys on that's bullish. The book is getting bullish here. Look at the book This is good. Okay. Well, we trade up into this liquidity here trade into this liquidity here Okay, they're still selling in here They're taking on some of it pulled Then they throw more liquidity in here and buyers cannot get through it We also have an iceberg here Okay in the same moment and Getting filled in this area in here. We have high liquidity. We have an iceberg and do we get through it? No Do we start to see sellers on the offer? Yes, let's see. Do we see sellers down here at this swing? Starting to let's make the dots a little bit bigger Okay Yes, they're starting to they're starting to show up Okay, there they go again. Okay, so let's see now If they if they should be able to now they traded into this liquidity that did stay in the book So it's kind of still back and forth in here in my opinion I'm still looking to see if we can get sellers to reach down to 80 81 or Is that enough and do we get buyers back up here at 82 and a half? They see see where the selling came in I'm looking for them to be upended So 82 and a half or 82 and three quarters and we get green dots up here. I'm looking for this liquidity to trade Okay, we didn't get it. We got exhaustion. We're getting more sellers looking for them to hit the bid into Lower liquidity here 81 Maybe 80 and there they go All right, so now I had this is new news to me. We hadn't I hadn't seen this yet We were just that I think at this point were Maybe we did see it. I can't recall Anyway, we got we got the drop All right, so the the bears came in and moved it away and let's just now go back and well here We are right back again. All right, so and again, this is that same setup in here Hey, here's a range and we're gonna go over this again and again again today Right, we can see it many times in here actually. Let me outline it again Okay, so here is our range here are our traders in here Trying to get through Hit this liquidity here and they can't get through right so we rotate back down And we get them again up here in this cluster and then here they are breaking out Okay, now this looks oh more bullish and now we're trading up to where these sellers came in Let's see if we I'm looking for More buyers here into this liquidity here at 82 and I want to see them I'm looking for those buyers to take these guys on and Trade into them and through them not to be absorbed here. In fact, I'd like to see these sellers get out of the way I'd like to see the book support this move And I'm not seeing that right now Okay, so this again is is not as high probability then and now let's see here. There we go Okay, so they took them on and they're still more buying pressure here I would look for this to still go a bit higher here into some of this liquidity up above now, I Don't like it though. This is not as high probability. I'm looking for maybe this to trickle up Why because they got absorbed here, although there was more buying pressure look at the retest back up here as well It no buyers on the retest up here Right, so this setup Yeah, it's kind of working, but it's not really looking that great. All right, but We're reading it again. All right, and let's look at it again. All right, so here they go again up here Do we get our buyers? Sellers come in on the offer. Look at that So what? Yeah, this is this is the auction that's taking place and this is the behavior in this auction There are more sellers here. There's more supply now. We're finding sellers Right, so this pattern in here didn't we're we're looking for it to work and looking for it to work here And it what it's not working look at this behavior All right, so this is this is showing when it doesn't work Right, we were looking for it to trickle up here Trickle up here, and then we saw all of this liquidity starting to come in and it was here actually that we saw And we're thinking well, that's not really what we want to see We want to see the opposite and we don't want to see sellers down in these lower areas in here Hey, and they they hit the bid and and went back down to this liquidity out here at 78 all right, so Let's reset here and let's look for it again and you can look at on Microstructural levels in here higher time frame levels the monthly chart. It's all the same Phenomena is the same Okay, the setup is the same We're looking for a distribution or accumulation, and then we're looking for the victor at the other side of the edge And here they are again up here now here. It's different at first off. It's not a whole lot of buying But what about the order book? Well, they're up here really I'm starting to see some action in here, but I don't see them really supporting it here on the bid though Okay, so we get another rotation and Let's see if we can get back up here again And now the bid is showing a little bit more underneath here All right, do we get our buyers up here? Now the liquidity see the liquidity coming down here So this isn't really it. It's not really doing it here. This is not what we're looking for Okay, we wait and we look for the next one. In fact exhaustion here and through here and sellers here Okay, so then maybe let's look at bottom edge here some selling and We're only looking for sellers down here and For them to break it and this would be the opposite set up Sellers down here for them to break it down below into this liquidity and it's just back and forth right now Morning, Steven Yeah, yeah, we started 10 a.m. East Coast time All right, so now now now they're starting to see the buyers come in I'm looking for them to take it higher here Like it's accepting outside of this range Okay, and I'm looking for one more Retest back up here 81 and a half and then 82 and a half 83 to to transact Okay, now the re the reason why okay, we're gonna go through this again and again again Okay Back and forth in here We saw some of the buying in here, but it wasn't so great Hey, the book looks pretty good there. I didn't we started a note. Yeah, they're coming in here But they're also down here, so it's not really that great of a setup the buying coming in here is not that strong either I don't see the big green dots which means the bigger transactions happening outside of this small range Here right, so we're really diving in here deeper into the ranges Okay, back and forth. We're looking for them here. Nope Okay, in fact exhaustion exhaustion sellers And then we're looking for sellers here. They don't show up and what happens We get our buyers back up here Right, what about the book? Well, they pulled here and the target is up here instead Right so and then they're starting to support it a little bit higher You can see that liquidity coming in the book now. It's a little bit lower here I'd like to see them up here at 80 and there is some starting to come in That's when we're looking for this to go up into 80 82 and a half and 83 Okay, now. I didn't know that this turned into 85 And that's new information for me right now Okay, but we saw it here All right, let me know if you have any questions on this I'm trying to be really crystal clear here and that's a difficult thing to do in trading So But it's a very simple setup and it's a very simple understanding of order flow phenomena here that we're looking for All right, let me get to some questions here and Try to try to clarify a bit more. No, no questions Okay About over in discord got a good discussion going over there guys. Okay. Good morning Stan Rob, good morning Rob Thank you for the coffee cup there slow down really appreciate that and Stan Is it possible to execute one position on book map and rhythmic and represent 20 apex? I don't know How that might work with apex? That's a good question Hector. Maybe reach out to support running tea Here how do you use the volume bubbles just like we're going over that right now This is exactly how we're using them right Now look again this this pattern in here is the same I this is a small range and you can even look at this I mean this it's a little more convoluted here But you could say like this is maybe your range and then this is what we're reading here in the transactions now There's a there's some differences in here That I don't like seeing in here makes this read a little bit harder for this move up into 85 Okay, let's clear the drawings for a minute and and I'll show you what I mean first off. We have high liquidity here All right now we're looking for the easy setup And yeah, it's kind of it's actually kind of doing it when we zoom in see how they're kind of staying in the book here But kind of pulling and they are underneath here there. This is a little late This this happened by the time it got up there But here's some of the support underneath Right. See how they're pulling adding here and we get buyers. Okay, so it's not actually at bad when we when we zoom in It's not bad So but this is the this is the zone we're looking at here Okay, and at the top of the swing here and we're looking for that that continuation right Now now we're gonna Let me know if you guys have any any kind of questions on this like I said You know if your trading strategy is and you like this strategy You could be in it here on your weekly chart down here at 42 35 And you would still be in this back up at 44 80 or whatever it's at right now 44 84 So this is the same it's the same setup It's the same pattern and look at your entry in here too. It's pretty horrible, right? I would I would it takes them off here. No no question. I would even front-run it a little bit and get out here Just above 43. It looks like or around probably 4,300 It takes them off and then look for the continuation Do I use icebergs and stops? Absolutely. I really like the stops and icebergs and the Added confluence and that's how to use it. It's an added confluence. It is not a signal Guys, it's starting to do this pattern again here Now you can even call it maybe a cup and handle pattern I don't I don't know the thing is though is like I don't it's starting to do it here There's it's still we're still running into liquidity. I'm looking for this though not here so much I want to see it up here And I want to see the dots in here Right big green dots and then I'm looking for this right, so now You know what we're looking for though in this pattern is Number one, we've got a strike against us already. We don't want to see this high liquidity here I'm gonna see them get out of the way. We want to see the high liquidity target up here 90 And we want it we want to also see the book underneath here supported at a higher level and it's starting to But you see how this makes this it turns this idea Into a range bound trade right now. It's like it's not ready for this In fact, we can get sellers here and they can come back down and test down to the 82 81 area How do I use the stops in icebergs? So again, it is a Confluence to more additional information. We're reading the order flow in here We're reading the order book for the current and historical market. That is the heat map Right We're reading also the within the price structure. We're reading the transactions. Where are they taking place the volume dots? Okay, and that's what we're covering right now We want to see the volume dots up here and we want to see also that context between the order book now The transparency now. This is the way I Read it and use stops in icebergs It is a subset of the order flow. So order flow rules rules the day And then the and the transactions and price structure that rules the day Hey, this is a confluence. It is the order types within the order flow. That is the subset part Hey, who's using iceberg orders? Is anyone here using iceberg orders? Maybe a few Maybe a few you get we get all sorts in here however For the most part And here's here's our move guys like just from reading this in here and and and going through this scenario We're looking for this and it is not showing it. So we get another rotation down here We might get even a trend down here. In fact Look at the selling here. This is the opposite setup If we get more selling here, I'm looking for it to drop and there it goes Okay, maybe it can make it down to 77 here Okay, it is the opposite is the reflection of this All right, and again look at this horrible entry short and did it even go against you though? Right, and that's just that helps make this a higher probability Outcome okay. Now again, this is something you this is What we're doing in here, and I'm not trying to push this on anybody whatsoever This is an idea. It's a concept. It's a scenario now go back and And study this take a look at this prove prove it to yourself. This is just an idea It's not a trade recommendation. It's not a trading room in here However, is this something that helps you? Does reading this in here help you? Can you understand it? Do you have questions about it? Can you see it? Or maybe you see something else in here And that can be very very helpful All right, so Exposed to these ideas and then you've got to carry it further It just has to be that way morning Deborah Deborah, I hope you're listening because like these are horrible entries But it but this is what and you know, I just want to cover this one simple thing here and You can get really good at it And read it if this is something that resonates with you now how we'll talk about the trade management here in a minute Because you have to actively manage this here. Okay until it starts trending your way right Okay, great Derek. Yeah, if you guys like this kind of please please hit the like button that We want to cover this information and Try to give you insights and ideas for improving your trading That's our goal We have a community in here as well our discord channel We've got all sorts of support Materials for you. We have these live webinars Other events. We have multiple traders in here and all day long That can help you with all sorts of different ways of trading Okay, we have like I said Jay Trader scoppelsini trading different instruments futures stocks crypto currencies John Slazas We have Tom be a volume profile trader we have Charles From pirate traders another volume profile trader We have Doug looking at options in a very proprietary strategy. He has for that We have a lot of different things going on in here to support you Okay, so this should help your trading That's our goal. All right, so We'll talk about the trade management here in a second. I think What would be better? Maybe I go over a trade That was taken again like this is just an idea. All right, and Then we'll look at the live market in here. You can see that this I was just about to say This move to the downside is starting to gain some momentum here Now this is the swing here. There's still momentum though. I'm still seeing it in here. I'm still looking for it to go further Let's see if we can get down to this 71 ish area here. Okay, so this is kind of a tough one to It's a little little tougher typically we look for taking some profit off down here at the bottom of the range We put that together with the targets of liquidity in here. The reason that I was looking for this to continue is something different it is because of the The strong selling in here and I just don't see buyers. So I'm looking for that continuation Right and you can see it's already retraced right back up into this area. So you know You could still be in it is still looking for that Continuable momentum in here, but it that has really slowed now. You see the buying interest coming in or the covering But there's still more sellers in here so far So you have to be careful with your management on that. Yeah now now you see the buyers coming in so Anyway, let's cover this trade Kind of demo trade in here and to go over the concept And I'll show you how I made I made an error in as well. Hey, this was pre-market I was in some meetings and you know, I just can't help it So here's I Can't help but you know is still take take some some You know get to get some strategies going in here and and and try to learn and get from the Make this into a higher probability trade Okay, understand it at a deeper level and then go back. How can I improve on it? So let's cover it All right. I missed it. I saw this unfold here I saw the buying starting to come in on in here Okay, just like that same concept. We were just covering in here. I started to see it in here right there And I'm looking for those buyers. I didn't have I just wasn't quick enough And it just killed me to see that Happen, okay However, what did I do? Okay, so now up here it traded into this liquidity here Back and forth in here and I saw it again Yeah, I'm holding off I'm looking for the retest and I got in so I got in here and Then it traded into this liquidity, which I thought was gonna get out of the way It didn't it traded and then I saw exhaustion here. I Got out what this is a five lot. I Got out three here. I Still have two left All right, so I placed my stop down here just below the break break even point or of entry here And I almost got stopped out. I thought I was going to get stopped out That's why I even put the OCO order in here because I saw that exhaustion here All right, so But I'm I still believe in the trade And still looking for it to Continue on I know that the the move is to the high side. I know that there's more buying at these higher highs here So it continued Okay, so back and forth in here. Oh, I'm sorry. This is where I made my error Okay, so it traded up again here There was no re I got out one trait one of the contracts here and there's no reason for that It's this is still quite bullish in here Okay, so This is something like I have to get better at their support here also And I thought well, you know, I don't know. It's got it's had a good run And again, I'm mildly paying attention to this and I'm not trying to use that as an excuse, but Yeah, I need to get better at it here. All right, so Anyway, I took one off here wanted to reduce more risk try to get the bigger runner here Okay, so And then held it here Back and forth in here And then I got I got my my target up here at 84 and a half Hey, I always look to front run. This is something I like to do front run that high liquidity in here And others had the same idea and in fact, I just I didn't even see this get filled This happened later Or I noticed it later You know, I had I had to do other things I turned away and and then this fill happened here And then look what happened Look at the look at the BS here, right? Look at this deep deep pullback here, and then what did it do? It actually came back up and went through this high liquidity here at 85 So in and does this do I kick myself for this? No, I don't This is what I was looking for and that's what it did so I Look for the next one after that as simple as that Okay, and yeah And when when did that occur? Well, we'd have to kind of dig deeper into this and and when you might Look to get back in now the question about the trade management in here So I went through my trade management on this position here and again Debra. Look at this Look at how horrible this this entry is. It's just horrible, right? It obviously would have been I would have loved to have gotten in here. I saw this starting to unfold I would have taken some off up here Okay, and I then you can do that and you can also get into another position here And then look to manage that you could do that many times over within just this small move here And we're only talking about what half an hour or less than that Yeah, I guess 45 minutes or so Less than 45 minutes. Anyway That's that was my process in here And now let's talk about some of the trade management though and then how to Keep yourself accountable and Keep your yourself in check Because this is the other side that no one not many people talk about Reducing the risk a lot of people talk about that But it's the playing with your head part in here like this would if you're still in it How do you manage that? All right, so suppose you're already in it you took some off you got your runners on and you start to see this going against you like this All right, let's just keep it simple in here for now really really simple and the right the simple thing to do to clear your head and And and just get you know a clarity in your consciousness here is Take your stop at break even you're done with this trade It didn't work any longer All right, and you wouldn't have had to deal with this here and yes, you would have lost out on this one This target up here You would have lost out on maybe this target here But you wouldn't have lost money would have made a bit of money here when you could do some of the risk And you would have been stopped out for maybe a small loss. Maybe you got slipped Maybe you can see mine was just a tick or two below my my break even I think a tick but So it would have been a small loss And on the remaining two contracts here Right and then that's it right now We don't know if this what it's gonna do. Maybe it comes down to way down to here Pretty strong selling coming in here Hey, it was just countered just a V bottom as countered by strong buying right back up into these areas here So that's what happened in the market, but this is how I had my control on it in clarity and how I was going to react and behave within this price action Okay, so there's many different ways to do this This is where you're gonna have to kind of figure out what gives you clarity of mind and What works for you? What makes you more profitable? Hey, maybe Maybe you leveraged into this position and maybe you're holding a bundle here now Do you want to have that go against you? You'd be for a loss down in here That that's really gonna screw with your head Hey, so how do you deal with that? Well take your small loss That's one way at least Let's see here Tom has some questions some other questions in here, um Okay, hold on a minute and guys hit the like button, please Would love to love to see a bunch of likes on this one I'm trying to go through and you know hit hit more of the trade management for you guys Okay, let's see. We'll start with Yeah, Derek. Oh, yeah Well, you can come to our discord channel Like I said, this is this these are the YouTube events ask questions in here The discussion continues over in discord all day long All right, you're still working on understand a relationship between icebergs top runs and its effect on price action It's the opposite. It's the Um, well, I one way to look at it. I think is the opposite is like Like I said, it's it's a it's a subset of the order flow Yes, it can have an effect on it, but it's going to be more muted It's more like if you have those icebergs Going in the direction that the you're looking for in the order flow Uh, or the stops, uh, if that makes sense in clarity Uh with what you're seeing in the bigger picture of of reading the order flow not the bigger picture time frame, but it could be All right, this is not a red light green light symbol uh signal down here Hey, this is about understanding who's using stops Who in here is using stops? I imagine pretty much everybody Right, yeah, thanks there, uh ken Yeah, you're using stops. Yeah, we're and and we're all retail Traders and smaller smaller players. We don't have You know, we might have 10 lots on or something, but like uh Uh, most likely we do not have 100 lots on Uh, if we were we'd probably be using iceberg orders right, so Anyway, that's uh Who's using these these order types, which is a subset of the order flow So we can see this is a big big stop run up here, too Right, so that's where you can start to look at this move in here. Is it new buying? You know, actually you see the stop run all the way through here starts here It's here And it's here all the way up lots of stops And that that begs another question in here about what are are these transactions? Is it new buying coming in? We'd have to dig into a little deeper. We we know that there's a lot of stops though a lot of these transactions are stops Okay, so we can look for sellers to come in and bring it back down into the range if that is the case So that would be one of the scenarios to read in here Um using the stops Hey that you know that there's a lot here It doesn't necessarily mean That it's going to reverse and come back down like this. It doesn't necessarily mean it's going to continue either We want to understand though, you know after the event of the stops what's happening In here and you can see that. Yeah, there's there was some more buying actually here. This is new buying mostly right here Okay, because we don't see as many stops But look at the look who's taking the other side of the trade in here And so we see a lot of icebergs absorbing Uh, and and then we do see the the move here Um with the aggressors moving price back down into these swings Okay, so that's that's going through a a few different scenarios in here about using the stops and icebergs Okay, but it's really this what we want to understand first Uh with the price action Uh the transactions and the historical and current order book Does that make sense tom? I hope that answers your question Well, just I I would suggest like, um It's it's kind of a maybe it's kind of a tough thing for for us as retail traders to kind of digest Is to look at these charts and don't think about you know, it being like Oh, it's price action and like price went up there this way because of that and this Is is really about the behavior of players in here It is an auction. It's the condition of the auction So you're looking at it through a different um Through a different window or you know glass Uh and starting to understand that What do some of these moves mean in here? And if it's a big stop run You know a lot of people getting stopped out back up in this area here Uh now what we need to see is like, okay Well, then is there going to be a bunch of buying except above where that stop run is? And actually there there was it's kind of a tricky move In here Because there's not too many stops in in here. They're mostly up at the top. It looks like Uh, so this is new buying coming in Right because we know it's not a whole lot of stops So it must be new buying Okay, so uh, yeah We also know that we have we do we definitely have this context It's high liquidity getting filled. They're staying in the order book And we also know there's we have iceberg larger players on the other side absorbing Okay, so that is the context here All right, and that will that would help give us some insight Uh, we don't know. In fact, this still looks good for me Like to accept higher Uh to come back up into here and accept higher and trade up into 4500 And what ended up happening? Was uh, we can see the the move up the move right back down Hey back and forth in here Uh, and then on the bid here, this still looks good. I like it Hey, they can these These sellers can hit the bid in here. Uh, that's fine Oh, sorry guys. I hope I don't have a crash here Hold on I'm gonna have to dump some stuff Okay Are you still with me? I've had some issues with this machine Okay, good All right, let me get back to the uh Boy, that was a close one. Um, hold on a minute here Okay, you guys are still here. Okay good All right, excellent. Um, so so anyway, um Uh, this is still looking pretty good, you know traded. This is where this breakout occurred here Uh, we have support here the sellers took them on Uh, still looking good Hey, this is where we really we tune in here and we're starting to see even here like some buyers in here looking for them to lift it they did Uh, and then it kind of petered out pretty quickly and we see a bunch of selling come in Okay, we have our retest here and this is this is not looking good now at this point And we don't have enough buyers here. We and then this is really not looking good here We have sellers coming in Right at this point here we we can put together lower highs Uh, lower low with selling down in this area here I would look for at least the move back down to to uh, some of these transactions down here And we do get that and then we get our continuation here Hey, that that read for me at least didn't happen until it gets here Right, so uh, I would still look for this to continue Right and then, you know, this turned into a pretty nice move here to the to the downside Uh, and that's after the cash open Okay, and then we had our data and then it's been bullish Until recently here All right, so it's turning into quite a choppy day actually Uh, and let's let's take a look at our bigger picture in here Hey, so We went over the the hourly that or we went over the the daily the weekly the monthly Our hourly is here in the middle. We still have this huge gap from the other day on what on the 12th uh, and We have a small gap in here as well as you can see That the um a few small gaps. This was filled but this was not Uh, and then our 15 minute chart here Yeah, it's it's looking pretty back and forth in here nice gap again, but it it's already been filled Uh, and then it's just back and forth right now. In fact quite a bit of selling. Look at the selling in here This is not really what we're looking for for continuation Okay, so this is looking more like, uh, you know a distribution up here than it is like a continuation All right, so I think we're we're set up for a pretty choppy day And let's take a look at these sellers in here. All right, so I'm actually see the sellers right now here at 73 All right. Well, let's see. We we know we have some buying wicks here But if the selling can continue here, this will be the third attempt down here You can get sellers in here in book map. I'm looking for them to trade back down to here Which is uh our 68 or 69 level here Uh, and let's see if we uh, let's now let's tune into book map and oh you're welcome tom Starting to digest starting to make sense. Keep it simple right Uh, and uh, you know look for something where you know the the behavior Is they're telling you the the the participants are telling you something here You know, it's like everyone's starting to go this way or that way in here Okay, in fact this here. I I don't like it. Um I see buyers and sellers in this little range in here and this is not what I'm looking for Okay In that little pattern that we were talking about earlier We're looking for those buyers in here. We're looking for those buyers in here Okay, and this is not it. We're looking we're looking for sellers in here Well, look at our our delta down here our volume dots here In this price action Okay, there's sellers. There's buyers A little bit of selling here actually it's actually looking pretty good if we could get Let's see it. Let's see if we we may actually get it We get our buyers back up here And we're not right now, but it might rotate back up and we might get that okay, so That would be a scenario here the other scenario is that we're going to come down here and base for a little bit Uh back and forth, but we're looking for our sellers to pick up Maybe they break this little range in here and start to pick up in here Right, and we're looking for those sellers then I'd love to see that liquidity pulled and then for them to move Okay, so here comes our our range bound trade back up to the top of the range here Okay, let's zoom in Okay, order books really not helping us here Uh, we can see that some liquidity up here not much on the bid, but there's more actually up here in the offer I'm I'm I'm still now it's starting to look a little bit a little bit better. I really don't like it though um It's not really the uh that convincing here So I I I'd stay away from it. Okay. I do like to see this book though. That's a good sign Uh starting to see other adding up here Okay, I just don't see the aggressors and I don't see them pulling here I see them actually adding a bit here on the offer. That's not what I'm looking for All right, now it might do it might break out It would leave me behind though, and I'm happy to let it go This Opportunity will come up many many times over Let's see here. Let me any questions, uh Guys have here. Yeah, it turned into quite quite the choppy day here Phillip In fact, uh, you know Quite it looks like quite a distribution back and forth in here to me All right. Now you can see we didn't get our sellers down here We were we were just talking about that and looking for them now I would really like to see one more retest down here and then we get our sellers. Yeah, that would look good That would look really good Uh for the uh the break down lower maybe maybe back down into 65 in fact Uh here this swing Yeah, this is the bottom Icebergs is blue stops are red Okay, well here come our sellers here Yeah, I still don't like it There's liquidity there at 73 And they're adding more at 72 And also at 71 and a quarter. I don't see a lot on the offer So I'm again it just doesn't look that great Hey, we're looking for it. I mean we had we have our scenario outlined in here What we're looking for Okay, and then we're looking here now In book map and understanding this move into this liquidity here. It's not really what we're looking for That continuation Okay, so we'll stay away from it Okay, we're just covering that one pattern really today But I just focus on that Debra, I do trade on on a rollover and expiry um I mean today is expiration We'll at the end of the day. We'll see pretty some pretty big swings. I imagine with the uh options Guys, it kind of did it in here. You can see it's it's not really a great example, but it You know off of here See the buyers some back and forth and then we got our buyers here again. That's when we're looking for the move Really for me only up to here at 74 and a half And I know it's not much but just to look for this again and again And they're they're still buying so now I'm looking for 77 and as I say it's It's already moving Um, but anyway, it's it's really understanding this in here this kind of Move off of here buyers some back and forth. Ah Buyers again. Okay. Let's see them lift it up to test where these sellers came in Um, and so it's come up quite a bit higher 77 Okay, uh, this was a stop run here. Uh, as you can see now not all of them are stops Okay, again, but understanding that context people getting stopped out here icebergs in this area we're buying And not a whole lot either Hey, but this is where that market kind of pulled away Now we know okay look at our delta in here look at that, you know big dots look at the uh, uh big bars Uh, we're reading the uh the buyers starting to come in that's looking pretty good But it's not looking that great In the relative volume here compared At these the delta bars Hey, but we can put a little bit of a different spin And this is the read here that you guys are asking about on the stops This Is a stop run And now let's actually add the stops on chart so we can get into the more of the details here Okay, so 99 of the contracts that traded in here Um was a stop run. In fact, let's dig real deep in in here And we'll look at the details The fact here is That's 19 7 48 So that's the biggest one. There was a bunch of little stop runs in here This is the biggest one here, uh and uh 48 Started here it ended here and then market Uh, oh the stops started stop transacting and then they started again down here. Now this book sweep in here There's a Not not really a book sweep either There's a transaction here and a couple transactions in here and a book sweep. We're looking for nothing but selling to to I hit the bid here And there's some back and forth in here Okay, so yeah This this stop run down here is kind of kind of that kind of takes up some of the power out of it Um, you can see when we zoom out it aggregates them in together All together so you you get 107 actually is what it what it's showing Uh in this little area here and you can see it here in the sub chart too If we zoom in on the sub chart, you'll see that 48 is the big one Or it was Yeah, this one here and there's the drop right there Okay Okay, so we made it through Uh 77 and we're still still moving Okay, bid looks pretty strong The buyer's coming in they're staying in the order book at eight at 80 though Iceberg's in here about 30. It looks like so not a whole lot Uh, this time of day is kind of it things really kind of slow down and then it'll pick up in just a little bit here with the london uh, european close And we'll see some volatility in here likely All right. All right buyers are able to trade into and through Some stops are hit Another stop run Okay, the buying looks pretty strong Let's see if we can get a pullback here to this, uh 80 level All right, and let's see is it still supported So far so good 208 stopped out there. Look at that so people, uh I don't know bought in here already getting stopped out Or maybe it's uh, you know, maybe it says Stopped to enter Knows that part. We don't know but typically it's a stop run And we can know the stop run. In fact, it is a stop run Uh, because look at happen over one two three levels here reprice levels Okay, so now here's our cluster of buying Do we see them again up here? Yeah Yeah, they traded into this liquidity again. I don't really like it that that liquidity still hangs out here Uh, and I'm I'm now I'm looking for We're looking for the support in the on the bid underneath here and we don't really see it Okay, so let's see. We get a little bit more buying up here Yeah, don't like it Don't like it at all. That's not the kind of buying we're looking for here Okay, and then no support in the book watch sellers can come in here and drive this down into this liquidity At these lower levels here. All right, let me see more questions here Tom well, one of the things to look at is you know start with the day, you know scott pulsini for example on thursdays is An expert with the stops in icebergs He's been tracking it and following it for years Uh, he has certain thresholds. He's looking for Uh, I would suggest coming to those webinars Uh, or you can even look at some of the recordings on our youtube channel However, I also another method is for you to record your your data in here And then go back in and retest And look at it and come up with your own kind of numbers in here You can also just look at them in here like for today, you know And just look at this. This is this is why I actually like it as the Swings in here or the the um axes or I have it set up differently than than scott does I have it out the accumulation method here for me is the summation both stops and icebergs Uh, the axes are not the same here, but I have the relative values here between the two that context between the two All right, so you would have to come in and you're really kind of look at it and say like okay Well, this is significant for today Or you know for this instrument and maybe it's for today Maybe you can start to come up with a consensus that it's actually not just for the day, but in general Yeah, I mean debber. Okay. It does not matter if I'm right. I don't care I want to read the behavior and look for the follow-through Really the the more that I have found And I think the more objective I can be with this The better it works I did I read the behavior of these traders in here? Is it what I'm looking for? No wasn't I can look for sellers to come in. Okay. They did this time now. We went back and forth a bunch bunch here as well Okay, so and and we still have the potential here sellers To drop it into these levels here Now if they do or not, we that's we don't know yet. We'll have to wait and see And there's a lot of exhaustion here, but they can still come in and and sell here hard trade right into 70s 77 and 76 and a half And that's what they decided to do. See they just kind of came in out of the blue, right? The one thing that gave us a little bit and look at that liquidity follow down underneath. Look at that And now what's the reaction to that liquidity? Well, actually some buyers are kind of interested. So that's our condition here And now now we're seeing that they're even more aggressive with these their passive orders here They're they're at a at a lower level here Now this is this is the the close right? This is That volatility we just spoke of here So the battle is kind of going on here at the European close And what does that mean? It means the behavior in here of the traders is a little different They're doing different things here at the close Okay, more sellers come in dropping it lower and and again that we were we were looking for this potentially It was a hard read though What the only thing that helped in here was the Exhaustion up here And then we're looking we don't even have we have exhaustion here on the sell side as well There's nothing trading down here And then we start to see the selling come in Here and I know it happened quickly. That's that's why it's a hard read And but we didn't see that the buying up here And that that was kind of the key And then this got really convoluted in here Hey, there's sellers. There's more on the offer, but the buyers were interested Then they weren't and then there's more on the offer here and the sellers came in and moved it And so now it looks like they're gonna try to continue to move it into lower liquid And did they show up? A little bit down here Yeah, now see watch the buyers try to pull it away here And can can they do it? All right so far so good now that starting to bait is is is done the pull away Now what if we're looking for this up here at this 76 and three quarters Do we get our dots? Does the order book support it on the bid? If we get our green dots in here that that's now this is a very small example of that same pattern that we were looking at And we look for this Potentially it's a that's a tough read too. I mean like You know I would mess a little too lofty of an idea. Maybe up here would be the first target Something like that And let's go over another thing in here. We talked about this earlier that I was going to cover some of this the trade management All right, so How do you what do you do with this? Let's suppose you now again? This is not a trade recommendation This is not a trading room. We're looking for something to unfold and then we're looking for the uh continuation here And this failed How do you manage it? And let's suppose you got in here And well in this case you'd probably have a small loss Hey, your stop would probably be down here and you'd have a loss of like a point and a half This didn't even come up to your first target okay, so uh And then just look for the next one. Okay here. Maybe it's starting to do it again Now are we even at a level? We're kind of interested in on the bigger time frame not really We're just covering this because we want to cover as many examples of this as we can So anyway, we're getting our continuation here lower This is where we saw the pull away. We did see it here, right? And that's when we Saw it move up into 77 where we're just looking for it to move up into 74 and a half to begin with Take some off and try to get a runner Hey more sellers And more sellers hitting into that liquidity It looks like sellers are going to take this down. Maybe go to lows of the day here Okay, now now what what's happening here? bigger picture Never we talked about this It actually we're looking for it in here it it retraced it came all the way back down here now Do we get our sellers down here? And if so, yep, let's see if we can get just not only down to 68 and a half. Let's see if we can get down to 65 Okay, so Yeah, looking looking pretty decent. They're on the offer. They are on the bid though, too But we are getting our sellers here Let's see if they can pick it up here And move this market. No not on that rotation. No Not yet All right, let's see if we get them here again Now this is kind of a different pattern that we're looking for in here It's different than what we're covering this whole webinar Um, we're kind of looking for it We're looking for those sellers here and it is bottom edge where we're looking for these sellers here Hey, uh, we don't want to see this liquidity though. That's again This is the the book on the offer is looking great And now that just shifted Okay, see how they all pulled at the same time here. So, you know, some Some player in here just uh decided to pull all of that liquidity in here So this equation is very different now and this is again that kind of volatility and what we're talking about here Is at this European close And now it's not an excuse. It's just this is what happened And I think it it can it tributes to the European close here that this is It's it's got to be the same player at least on some of these levels Uh, they they they pulled all that liquidity at the same time Okay, so now we're getting our buyers back up here Yeah, I still I still don't like it It's just not quite what we're looking for So we stay away Uh, but where I was going with this here was that kind of the bigger picture um is the um Here here net liquidity is coming back in again here now. What is what happens? We find sellers All right sellers should be able to now Drive this into 70 and through it Okay, now we're looking for that here Okay, and There they go Okay, and we're looking for 70 67 and then maybe 65 here Okay, and why we're looking for 65 is because of our bigger picture here Right on our 15 minute chart Okay, now it it if it didn't fill the gap before it just did now Uh, look like it filled it before I I can't really I don't have really a Clear vision for the charts here But uh, yeah, I would like to see it come down into the swing below here Around 65 So still looking for that selling pressure to continue Uh into those areas here All right, so and and the reason why is we're talking again about momentum here And we found this and then we're looking for that continuation when we said no, they're not ready here not ready Okay, it swung back swung it back again Then we saw this and we're going okay. This looks pretty good. It fits our bigger picture We're looking for the continuation All right, and we have our reasons on our bigger picture Okay, the bigger picture and let's take a look at it here And let's let's take our stops in icebergs off the chart for just the clarity's sake Uh, our bigger picture is this we've hit we've hit we've hit we hit We see sellers Okay, so this is actually this actually does kind of fit that pattern to be honest Uh, and and it's this cluster in here. It's a bigger cluster basically Actually, we can even make it smaller It did it did go back up it swung up back up above it here But it's this cluster in here and we're looking for those sellers down here We got it So we're looking for the follow-through and it I what is nice about this is it fits this picture here It retested it retested it swung back up and made a lower high it retested again. We're looking for follow-through Okay, now it just went below our swing so it must have hit our 65 level And it did All right That was my expectation And I would be out of the trade All right, so, um Anyway, these are again. It's not trade recommendations These are concepts and ideas for you guys to go back in to look at in book map and Start doing some studies start making your own content on this mark it up mark up your charts Share them in our discord, uh, and and get some feedback from other people And then and then uh go back in replay mode, uh, and uh If you do that you will understand at a higher level First off we'll answer a question. Is this something you like? Is this does this fit the way that you? trade the markets Hey and answer that question and then secondly you'll just get a lot better at it if it is something that you like But if it jibes well with you All right guys. Well, yeah, please hit the like button, uh, and uh Let's wrap it up. So we won't uh meet on wednesday. Uh, monday. It's a juneteenth holiday here in the us We will see you guys on Uh on tuesday, okay All right guys. So and again look look at look at this look at the uh liquidity coming in and look at the pull away here Uh, you know and right at our european close here So this is why I got out All right, so and and I just look for the next one and is this the next one. It's not bad It's not bad. Look at the bind in here. Look at the book in here. I find more buyers great You know, maybe we can get back up into this swing up here 74. Maybe you know, uh Something yeah, something like that 74 75 something like that. All right All right. Thank you everybody. Have a great weekend and we'll see you on tuesday. Yep. Thank you. Thank you Debra. Happy father's day to everyone out there. Uh, and uh, enjoy the monday holiday Take care. Bye. Bye