 Yeah, thanks Bruce and Bookmap for hosting this. Really do a great job in providing education to traders with some great tools, focusing on factual information, which is really the foundation you have to have to trade because that really proves your awareness of what the truth is. And when you know the truth, you can really get in sync with it and getting into the flow. And that's really what this whole series is all about, is how can we get into a state of flow when we're trading? Because that's when we perform at our peak and when we're not thinking we're just executing. And you can do that when you have a good fact foundation. And when you don't have a fact foundation and your body recognizes doubts and those emotions kind of seep in and it just kicks you out of that flow. And so this whole series has been about how do you establish that good foundation within yourself, that fact foundation, trust in yourself, and getting into a state of flow. And today we're going into tactics. What tactics do we wanna use to execute and what are the optimal ones that we wanna do that with? And before we get into it, just wanna highlight disclosure. You can read through this, take a screenshot. Basically everything we're doing right now is about education. And we're not advocating any specific position to trade off of, but everything that we're doing here is for your benefit to help you succeed in trading. And so that's what it's all about. It's all good, we're all working together. But we're not advising you to do anything specifically in the market. And that's really the mission of direct capital trading is to really create a positive impact to help you achieve your full potential. That's what we're all about. Look to empower traders with our fact-based trading solutions that enhance your self-awareness and decision-making. And as I mentioned, this approach enables traders to execute trades confidently and effectively by facilitating a state of flow, getting into the moment. So our trader development program we've gone through and it's an overview, understanding yourself who you are. When you know yourself, you can do anything. And understanding your enemy, who are you trading against? We've gone through trading against the large funds and the HFT that are out there. What's the battlefield? We talked about market-state, understanding the context of that state, you have that awareness. Also along with that battlefield, where does the terrain change? What's the structure of that battlefield? So if we're transitioning from a flat area to a mountainous area or a tree area or going fighting underwater, whatever we're doing, basically what's that condition of that market-state? And since when we understand the battlefield, we can put together our strategy foundation. How do we approach the market based on that state and structure? And so today we're getting involved with, okay, now we've got that foundational strategy and now we have to execute it. So now we're the warriors there with our, we're going to war and what tactics are we gonna use to win within that environment? So understanding, winning tech is the key to successful trading and what conditions are you in? If you're applying the wrong tactic in the wrong condition, it's gonna be an issue. For applying the right tactic and the right condition, that's when everything seems easier. Trading seems easier because we're in alignment. And so that's what we're gonna get involved with about how do we line our tactics with the context of the market-state and structure. And that's how we create a structured approach. We're really kind of an if-then. If the market is this in this state, within this structure, then we're gonna use this strategy theme and we're gonna apply these tactics within that theme. And so by doing that, we're going to be able to really always be in a situation where we're having the optimal risk-reward opportunity. And those tactics can be applied in multiple market-states. So we're always consistent and we have this structured approach that we can apply. One of the issues that many traders face is that you get started in the business and you pick up these different trading tactics along the way and you find something speak to you and you hold onto those things and you look to apply those things every day. You come in and this is what I do. This is my tactic. The problem with that is that just like a broken clock, it's gonna be right a couple of times a day, but otherwise it's a bit hit or miss. And you don't have any consistency with that because it's not aligned with the state and structure. So if you're always going with a mean reversion strategy and that's your thing, because you like to fade moves, you're gonna get run over when the market starts trending. So you're really understanding what the context of the state is and structure and what strategy theme is in play and then aligning your tactics to deal with that is really the key to long-term success in the business. And that's what it's all about, just balancing your strategy and tactics to allow for ideal entry areas for your best risk reward, how you can maximize that on your exits. The decisions you're gonna make to adjust that position and really have a structured trading approach. You know, it's the famous strategy without tactics is the slowest route to victory and tactics without strategy is the noise before defeat. And it's so true. We need to have that strategy foundation and then all these tactics and tools that you've acquired, we applying those in the correct situation. You know, if you have a oscillator strategy and you use it in RSI and you really like your RSI is your thing, you're looking for these overbought oversold situations, you're looking for divergences in the oscillator to get involved in an opportunity. And you know, this is your tactic and you're applying that every day. Well, you know, oscillators don't really work very well at all when the market's in a trend mode. And you're gonna get oscillator signals that are gonna jump in your RSI above 80 or even 90. And when it's in a trend state, that's actually a positive signal. You know, and you wanna roll with that. You know, so you have to make sure that, you know, when you're in, you've got to discount that tactic. It's the very least. If you're dealing with a market that has a strategy foundation that's trending, you have to take that into consideration and understand, you know, what phase of that trend are we in? What part of the structure are we in? You know, absolutely, that oscillator can work really well if we're in a positive trending market state and we get a big, huge break. It's a corrective move against an underlying trend and a diversion signal on an RSI off lower structure points is a fantastic tactic to use in that situation. But, you know, if the market starts to transition higher again and we get that transitional signal and the oscillator flips, you know, to more of a overbought situation, it's really not. It's really more of a generation of, hey, this market's strong, it's making a move and we're getting ready for an extension higher. So how do we, you know, we wanna make sure that we're aligning our tactics with the correct market state. And so there are tactics for, you know, entry, exit, position management and what I'm gonna get into today is just a few tactics on entries. And so if we're trading off structure, we're trading off price levels, there's basically three entry tactics that you can use. We can either fade momentum into a level, we can trade with momentum, a market trades through that level or a breakout and we can accept a reversal. So we can wait for a market to fail and then trade a breakout back through the level. So reversals are great tactics to use in a market that's, let's, you know, in a extreme situation. So the market's breaking really fast, really hard. You wanna buy it, you know, instead of fading it, catching that falling knife, you know, let the market tell you when it's done. You know, identify the right structure point and wait for that exhaustive reversal and the market takes out the structure and then can't hold below it. And you know, that's a great tactic to use in a corrective trade situation. So again, it's just aligning tactics with the context of the state and structure. So I'm gonna get into a little more detail on each of these tactics and then we'll take a look at the some alive market situations and you know, what they look like there both on the macro and the micro level, how we can take advantage of it. So first thing I'm gonna do is kind of go through the essence of what these tactics are. And so, and that's a really important thing to do and something that you wanna take all the tools that you have and you know, any technical indicators that you use ideally put those into some kind of, you know, if then statement, if it does this, then I do that but then throw it into buckets of fading momentum buckets, trading with momentum buckets, breakout buckets and exhaustive reversal buckets. And really, you know, have, create this kind of quiver of tactic tools that you use for specific situations. It's really important. And what else is important is to understand the essence of what you're doing when you are fading momentum. You know, it's a counter momentum, works, you know, this is classic non-trend market state tactic. Non-trend meaning markets, not trending, it's going sideways. So sideways means we wanna fade moves into the extremes. And in a non-trend market state, if we expect it to continue to not trend, you know, we'd expect those extreme parameters to hold. So we're gonna fade it, when we fade moves, we fade it in front. You know, it's kind of a, it's our classic return to mean tactic. You know, this works well for opening range strategies. If that opening range is gonna contain the market or you know, we're gonna wanna, it should stabilize in front of the figure. That's an important fact feature of a fade tactic is that the market is stabilizing in front. You know, that's why, you know, it's effective in trending markets for corrective moves. So for in a positive trending market, expectation is that it's gonna make higher move lows. So if we identify that lower price point for that positive trend, expectation is it's gonna be a higher low. And in the market, we can fade momentum in front or above that figure. And that's an important aspect of the fade is that the market, if the fade is gonna work, the market's gonna stabilize in front of that or if we're selling it, it's gonna stall out in front of it on the downside. It's not gonna penetrate it because if it does penetrate it, it means something. There's a potential issue with that fade. And that's a real important feature because more than anything else is, you know, the market's always telling you what it wants to do and when it tells you that something's not true, you need to factor that in. And you need to factor that in that the market does take out a specific structure point. The fade's no longer true. There's a problem with it. And it's not gonna be a perfect fade. And if it's not a perfect fade, that's good information, it's just not a perfect fade. And we shouldn't hope that it will be and we should adjust our expectations. The other strategy trading with momentum is a breakout strategy. Again, you know, this is a momentum strategy and we can trade momentum strategies in trending markets but we can also trade them in non-trending markets. So, you know, when the market moves into an extreme and then it exhausts and reverses the other way, you know, that's a momentum shift. You know, and we can take advantage of that. Crossing through the midpoint, you know, like if you're using an oscillator to identify, you know, overbought over soil conditions in a non-trend state, the midpoint cross is a good momentum shift. You know, and so that's a momentum trade. That's a breakout trade. You know, absolutely it's gonna work the best in trending states because we get follow through. Non-trending states we don't. You know, but this tactic allows you to participate in transitions of state. So it's a powerful tool. One thing about this tactic is it doesn't work that often but when it does work, it works big. So it's a tactic that, you know, unrisk wise, you risk less, go for more. And if it, you know, if a breakout's gonna work, it should just go. Absolutely you could get, you know, some momentary headaches but as it's making a decision but you should know pretty quickly if this thing's making them over or not. And if it's not, that's good information too. You know, now we've got a false failure and so your expectations should change that, hey, you know, a lot of people got sucked in and now we're, it's more likely we're gonna go the other way. And so again, owning the essence of what a breakout is and the tactics that you use and you can kind of go through what you're comfortable using and really tweak it out for that. And again, it's immediate validation is pretty key with breakout strategies. And if not, we might be in a reversal. So this is, you know, this is another great tactic. This is one of my favorites because the market's really telling you something. And when you get these exhaustive signals at extremes, it can be the precursor to a nice big move. You know, it's any false breakout of any level. Especially, you know, in the volatility that we've been having, especially in crypto, you get these all the time. And even if they're not gonna fall through in a big way, you definitely, there's money there to make on these false signals because the markets are designed to just suck people in and squeeze them. And so absolutely this works best at exhaustive extremes. You know, in non-trend state boundaries, you know, the market's been digesting and you get a false breakout. And a lot of times, you know, you've got good defined parameters to take advantage of profiting from the opposite side of that non-trend digestion. And this is another one that's a hit or miss. You know, you should get a quick validation. You know, the one thing that's a little different about the reversal than a breakout on the validation is the potential. So if you really had an extreme and you're really gonna reverse and have a major turn, it's gonna just go, it's gonna be a quick validation and you don't need to risk a lot. If the market produces a reversal signal and then you don't get that quick validation and maybe it pulls back and starts chopping around, the fact that it broke structure is huge because it tells you, it is at the very minimum it's told you that that trend that it reversed is stalled. So that'll happen a lot of times with reversals where the market may take a little more time to, you know, turn, but the key information is that you're getting is that the market, that trend is no longer true. And so that can kind of change your perspective on your profit targets on your reversal. But what's more likely is if the trend does start to resume, it's probably not gonna fall through. And so that's another good signal for the reversal that it kind of tells you that, you know, kind of the exhaustion there. So for your optimal tactics, you know, this is, you know, well-timed adaptable techniques that align with the current market state and structure to maximize favorable risk reward, which is gonna improve your consistency. And we can optimize that by incorporating the micro-dynamics of the order book to make them more effective. And so that's something that we're gonna take a look at now and we'll look at both the macro structure and get into some of the micro structure. So let's flip to a live screen here. Let me set this up. So this is our playbook. Those are the analytics I mentioned before, our fact-based trading solutions. What we've been doing for, you know, over 35 years to find the market state structure and strategy themes. And we're talking about the tactics we use to apply it. We're gonna look at Ether today. And so let me move this over a little bit here. And we'll go back, we'll do some historical trend, you know, and find some different strategies. Funny thing about markets, they always don't just do exactly what you want them to do when you want them to do it. So we'll have to just always take what the market gives us. But the key thing here is just understanding that, you know, that kind of the, what's the foundation, where are we at? So we're coming into Ether and what we know about Ether that the market, the underlying foundation is still positive trend. However, sentiment is above the market. So this is a situation where the market is in a corrective trade situation. So under, you know, we have this big underlying foundation of still buying breaks, and we're buying breaks today above 1801.76, which is here. That's our key structure point to the downside. And a break in structure there is going to potentially transition this market into a non-bull trend state, but this is kind of our stabilization expectation area, our structure point of our state. So we have our state that's underlying positive. Sentiment is way above the market. So it's above the market here. This is our structure that defines the bull trend. So we're always just, you know, what's the battlefield, positive trend? What's the, you know, the skew of that battlefield? Well, we're corrective, so the market's vulnerable. Where's it potentially going to stabilize? It's going to stabilize off this structure point, or we might fall off a cliff. You know, basically our backs are against the wall. You know, we're fighting. This is our backs are against the wall. And if we fail here, we're going to need to do something. And so we currently are pressing into this area and the optimal thing to do in this state is to buy, buy a, what we call our downside pivot buy a DP fade. So we have a fade situation here. We're fading momentum. So let's take a look at this fade and what happened. We also have some minor levels that we use to validate opportunities. I'm going to put those up right now. Use help with profit management, position management. So just, you know, everything that we have, you know, we set our stage of our macro structure and we know that we're markets in a positive state. So the expectation there is that, you know, we're, bull trends don't always go up. Sometimes they have corrective moves and we know from our structure that we're in a corrective situation. Because this is a corrective situation, we want to, you know, and pretty much anytime we're in any trade, we want to buy low and sell high. So, you know, and what is the optimal strategy theme? Well, with the market opening up below what we call our directional midpoint, it's negative. And what typically what that means is if the market, this is a rotational number and it tells us that if it's below this number we might get applied for the opposing critical range extreme, which is downside pivot, which we do. And what do we want to do when we get there? We want to fade it. And so the, you know, when do fades work the best? When does this tactic work the best? Well, it works well when the market is absolutely showing us that it can correct. So in this situation here, you've got a market that's starting to build negative momentum. And here you've got these lower lows. This is called price structure. We're just looking at the price structure of the market. And then here the market gives us a trade that goes above this price structure. Doesn't break structure. This is our first structure break, second structure break. But it just, it's a little tell. You know, typically if the market's really bad it's going to cascade and it's going to continue to hold all the structure and it's just going to go. So that's just a little tell. That this, there might be something going on with this momentum. You know, having these good, these big swings here tells us that this market might not be in a situation where it's just going to throw up and go to zero. But what do we also know? We know that this area is, you know, we're looking at our strategy plan and our battlefield says that, hey, if the market's going to stabilize it's going to stabilize above here. So it should make a higher low. And so here it does. So here we, you know, this is a classic fate opportunity where the market came into our zone our metric boundary and it provided us with a fate opportunity. Now this is a trade that if you were there in the, this is a, let's go down to a smaller timeframe because this is important too. Of, you know, especially in crypto and especially with fades you need to have resting orders. Otherwise you might miss the opportunities. And so this is the second fade that came into play. I'm going to talk about that in a second. So here we're coming into this area and let me see if I can pull this up as well. Kind of using the macro and the microstructure together here. So here you can see the same structures in book map. And key to this whole thing is we're all teed up. We know what we want to do. We know our strategy theme and we know the tactic we want to apply. And, you know, in this situation when the market's making these quick, you know, the crypto they're making these quick moves we need to have resting orders in there. We can use the order book as well. And since we're not live you know, the only thing we have here that's interesting and I look for this all the time is we've got these big sell dots here. So we've got, this is just telling us an exhaustive signal, which is good. You know, we're getting an exhaustive signal. We're getting a lot of, you know, liquidity. People are puking out of their lungs and selling into structure. So getting, you know, getting big sell dots into a major structure point or at a major structure point especially within the metrics is a good indication that, you know, we could have a kind of a quick turn out of that area which we do, which we, you know, which did occur. And we'll go to the, we'll go to live market in a second. Did I just, you know, but looking at this tactic we're fading momentum. And then we know that this absolutely has the potential to be the low point of a new bull extension. You know, it's the very bottom. So, but, you know, so we, we can, we can have a more of an extended outlook for this. Let's take a look at just on this fade, what happened. Market paid us out right away. Call us half APMD move, starts to work higher. It validates this. It should be going higher. Market's telling us it wants to go higher. And then immediately it says, no, we don't want to. And so at this point, the market's telling us there's a problem. Market broke structure. Our initial fade opportunity worked and we get a retest. But now on this retest, one, you know, if we, if we're, you were coming in here, the fade opportunity paid out on a pullback didn't fall through. Now we get a retest of the area, but we take it out. Granted, you know, these are, we've got some different liquidity order books. So this is definitely a spike. Where's the, you know, where there's really the liquidity on that, but it bottom line, it's still a fact that we went below it. And a real fade, a true, a true fade situation, we should stay, we should be staying above it. So we've started to damage that structure. Move this over here. Here we go. You know, we did get in another exhaustive dot in that area. And we quickly, you know, came back to this, what we call our kind of a half APMD area. So the market is kind of setting up more of a digestive trade. So this, this was, this was a, the first opportunity was a good opportunity. This second opportunity was more aggressive. It's paying out. But that is the essence of the, the fade strategy. So let's take a look at a different day and let's take a look at a breakout strategy. Or we'll just take a look at this current situation we've got going on here. This is pretty aggressive because it's more in working with the dynamics of, of kind of minor structure. Typically I like to look for opportunities at major structure points. And we'll take a look at one of those later. But, you know, we just, since we're here and we've got this opportunity going on, let's take a look at it. This is a consolidated order book. So I like to look at, you know, liquidity a bigger of more exchanges at once. And so we do have a transitional signal going on here. Just like we had here, this was transitional. We had a new move low. Now we have a transitional signal here. We do have the order book picking up. And this is something that occurred while speaking where this, the order, the bids continue to build up. And then when we get the, a basing above this metric, that's a, you know, that's a sign of strength. This is a momentum signal. So this, this should just go. It really shouldn't pull back. And we just should see a move right up to this 1840, 1845 area. I always like to look for good alignment. So here, you know, we did have these structure, these high points here at the figure. And that came into alignment with VWAP. So whenever, you know, the, going back to our original conversations in previous sessions of talking about who's your enemy and what large funds like to look at, they like to look at the VWAP. So it's a good transitional number. It's a good area to use a breakout tactic. And so the expectation now is if this is true, and we're going to, you know, we had our original fade, we came down, held the figure. We didn't fail. So it's still valid to, you know, kind of basing action where we're pressing into structure. We know it's big structure because it is the low point of this potential new extension to the upside. But the fact that we did press into it again makes things questionable. And based on the bigger picture, the bigger breakout is if we get a move above 1852. That would be a validation of the market holding this structure and that we're going to have kind of a positive signal. And that would be another breakout opportunity that would target 1928. You may be wondering if, you know, so if we were going to look for a reversal situ opportunity, you know, so this is, you know, this is how a breakout should look. You know, this is a trend. This is one of those transitional momentum moves. So it's more short-term. It's just for this kind of a pop. Again, the bigger momentum would be here. For a reversal, the fact that it went below here, can you call that a reversal? In the essence, it was an exhaustive move. So you could say yes. However, this is more of a reversal where we have a fade opportunity fading in front of the figure. We're getting a breakout signal above our momentum area here. Again, risk less go for more. We know that this thing might get a pullback and it should just go. It should go, it doesn't. So it's a false breakout. You can consider this a reversal here. So it's a reversal in momentum that occurred at structure. So this is always, always what we're talking about when we're dealing with our tactics is alignment. So when you have price structure that gets in alignment with market structure here as well, this is a good signal. And so it's just telling us, hey, the market wants to go higher, it should just go. And when it doesn't, that tells us something else. It's just not true. And if it's not true, what is true, we could reverse. If we reverse, where could we go? We can go back down to the downside pivot. Here's a good reversal off of this number where we have a market that takes out our metric. This is a good flush. And now we get back above it. So this is kind of a real classic at the extreme. Then the market comes here and we get this basing above the metric and it starts to move higher. It was the end of the session. So this is settlement period. So things kind of reset. But if we had this type of a signal earlier in the trade period, we would anticipate kind of a bigger reaction. Since it's later in the trade period, the expectation is what we had, which is more sideways. So as I briefly got into, we can go back and look at some more on their tactics. How can we use the microstructure? How can we use the, to optimize our tactics? So we have our fade breakout reversals. We can look for liquidity shifts, imbalances in the order book, intensity of trade, and as well as resting paper to kind of assist us in executing these tactics. So let's just go back to current moment. So here we see the big exhaustion as the market's coming into structure. We had some intensity of trade occurring when on this momentum transition. And it's continued to follow this, brighten this up a little bit. So we can see, we definitely have some liquidity here coming in at the bottom of the directional metric. So it comes into alignment here. So keeping an eye on the bid, as long as we're bid above 1827, we're good. We can see there's a lot of buyers as well, because these dashes are representing kind of one person in the order book. We can see there's a lot of different buyers in here, not just one. So it's always good to have, especially on a momentum shift, having more people involved in that. We don't really have any big outstanding resting orders above the market. When we're, we do wanna see this market continue to hold positive price structure, because it's a breakout, so it should just keep going. So as we can see the market is, had these trades here, it's built in a base. This base should hold if it's really gonna go, or is that it? So if it doesn't go, we're not going to, we're going to, it's gonna be a tell that this momentum's over. The market did attain the very bottom of that metric, so it made its move. It doesn't need to go any further to say that it tagged it. And so if we do break structure here, it's more likely if we did get a rally, and if we start trading back below 1830 on this momentum, it's gonna tell us that more likely the next surge is not gonna be yet. And if it does hold, and it continues to scale, and we continue to see the order move up, and we see it start to base above this level and continue to hold positive price structure, that's a tell that tells us this is true. And we might be in for a big transition. So it's always this, it's always starting out with the big picture, what's the state? What are the characteristics of that state? What's the structure of that state? How does sentiment influence that structure? Because of that state and structure dynamic, what are the strategy themes? What are the optimal and hedge strategy themes? Where are we at within that structure? And what tactics do we want to use to participate in it? What is the true essence of those tactics? Fading momentum into a major structure point. This is where we're at on this picture. Can it do that? Or are we going to, and so this directional area becomes really pivotal for an extension back to the positive momentum, or we're gonna continue to correct? And so that's where this, that's this decision. So this is a momentum surge into this area. We can, if we do get another push up here and we start to see some intensity of trade occurring into this area, we get a lot of buying happening here, and it starts to get a little overdone. We get a bit, so like we get a surge with some intensity, pulls back, we get another surge with less intensity. You know, that's gonna be a tell that this area is gonna hold. If the trade's more consistent and we get more consistent flow and the market we start to see basing above, especially basing above 1846, that's gonna be a tell that we might be in a bigger transition and definitely when we get a breach of the metric, that'd be a fresh breakout signal. So we do have a live trade room that we welcome you to come into where we go over how to use the microstructure and the macro structure as well as how to work with our trading tools, with our playbook. So you welcome me to come to dharmiccapital.trade to check those out. We're all about fact-based trading solutions. You know, objective facts, data-driven. The biggest thing that we provide you is this statistical outside view and this is gonna give you a benchmark and slow down your decision-making process so that when you have an opinion or you get a subjective, you have a subjective technical indicator that you're using. It gives you a real baseline to fact-check that against. Okay, I've got this indicator I came up with and I kind of use this sometimes, this sometimes. You know, it's a little bit subjective when I pull the trigger on it. Well, how does that relate to what the facts say? How does that relate to the baseline? And so I do recommend this book, Thinking Fast and Slow by Daniel Kahneman, which in one of his quotes is, the outside view offers a more accurate prediction than the inside view. So the statistical foundation can give you a better prediction than your gut feel, your inside view. And it goes into why. And that comes back to the very start of what we talked about in this series of self-awareness because we all have these biases that influence our decisions in the moment. And so when we are more aware of those biases, we can make adjustments for them and we can really get into a state of flow where we're in sync without biases. And that's what the kind of a statistical outside view can do for you. So welcome you all to come to Dharma Capital of that trade, check out what we have to offer and we can get you set up with our book map integration. So you can have the structure right in the microstructure. Any questions, feel free to email me directly at js.dharmacapital.trade. And I look forward to working with you. Enjoy your day. Cheers.