Good morning traders and welcome to the book map live trading webinar This is Bruce said book map going through live analysis here as we do every Monday Tuesday and Friday tomorrow we have live trading with Jay trader a stocks trader and a scuffle senior futures trader on Thursday the concept here a trader a stocks trade is a Part of our education We have an educational course. It's online. Let me show you where that is and It's on our YouTube channel if you come here, and if you scroll down a little bit under bonus material here you'll see the Educational courses first right here. So just click on the view of the playlist it opens up. There's four parts to it This sets the foundation Okay, this is the foundation here where you will learn about with part one About how the market actually works what happens when? there's liquidity in a market buy or a market sell order and From the very binary Transaction into micro structure into higher time frame structure. That's when we start to get into part two of the educational course and then part three is more about strategies and and structure and Part four is about confluences and more advanced Configurations here so this course here will set the foundation it is free. It's open to all And then from that we have the live analysis to go through that same course content. So you will see it put it to the test and then we have live trading to Follow up with everything here you have the live trading you have the Live analysis so you can put the pieces together and learn how to read order flow to apply to any type of strategy Let's go through the disclosures and jump right in General disclosure all book wrap 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 substantial risk of loss and is not suitable for all investors past performance is not necessarily indicative of future results All right, let me know if you have any questions. We'll jump right in look at the S&P here 930 cash open I don't think there's any question about the direction here Right up to 3800 the figure here and it hasn't quite tested yet But they'll assume in a little closer. All right 506 contracts up there High band of liquidity here. You can see that here at around this 97 area it already filled And they're on the bid here still all right, so we're getting up there now You know, we've seen some pretty strong moves, but this has been a really strong move This has been more than 50 points Right since the open it's just below 3750 so within this half hour here We've seen up just about a 50 point move And we're getting pretty lofty up here. They are on the bid now. We talked about this behavior that we see a lot in the in the order book here and Let me go over it again The liquidity is up here All right, the the sellers are up here at the figure a Lot of times you'll see that these guys here at this 98 level level here are front Running that liquidity. Let's zoom out a little bit They were already here before Okay, in fact actually 3800 came in a little bit later They were here before Now they added more in the book just after 10 here now We did have some data here at 10 a.m. The Joel's job report but you can see that Whatever the you know the news was it doesn't matter the reaction was buyers and it was bullish and They traded up into this 98 level But it didn't trade it to 3800 Okay, so these larger players up here didn't get filled it hasn't tested this figure yet But it did test in front here and these guys did get filled here around this 98 level So that's interesting to see so why why the sell-off? Well, we were not finding enough buyers quite yet to get up to this 3800 here Okay, so this is starting to you can kind of see like a strong move a Bit of sideways consolidation or taking a break and then let's see if we get another strong move now Okay, and looking for buyers to come in and trade up into here So you see this again and again and again just shy of the figure This is where we want to read the order flow or the order book at these levels in here All right, you'll see this time and again like I said, they're getting filled here and They are Not filled up here at 38 at 3800. Okay, so doesn't mean that it's not good Maybe it doesn't trade right it. Maybe it maybe it won't trade today however You can see that they're on the bid here in these levels here That they want to try to press this up into 3800 okay, so we're seeing still more sellers coming in but they're on the bid and they are getting filled now this is Very similar to a spoof Not really sure what to call this here They are getting filled in here at this price level at 94 the rest of these levels here. They all cancelled Okay, so what's going on in here? This is like a spoof That high liquidity high liquidity every point here 91 92 93 93 and a half 94 now at 94 they are getting filled Okay, so is it a spoof any longer? Not really But then you can see they all cut at the same time. So is it the same player? Pretty likely pretty likely and what is their game here? Well to me it looks like they're trying to get filled or trying to maybe press price back up into here You will see this time and again at the end of moves Hey, so what trying to get it back up into these areas here now We just had a nice little flush through here With the move to the downside to where look to the left here and let's look at this reaction This is where we saw the breakout here. So it's a little bit above that which is kind of bullish And now we're seeing buyers come in. Okay, great. So let's see if we can get The buyers to come in and trade up to 95 here where they where these sellers came in after they pulled that liquidity They dropped it. Okay, the sellers came in and it dropped So let's see if we can get buyers now to come in and trade up to 95 Okay, so we see the buyers already here and we don't really know right now We don't see too much on the bid here in these levels here So, you know not not not too much to to to write home about at the moment here If we see a little more action on the bid followed by big green dots here We're looking for a move. Okay, 95 would be or just shy of it would be a consideration to take some off All right, so let's see we're looking for those buyers right now see them on the bid here reaction is the green dots Let's see it. No not yet Okay, it is still in this range here. This is when we look at structure See the structure in here. It didn't break it. It just came up and kind of test it up here Now let's see if we can get buyers right now now. We're looking for them to break it Okay, they broke it still looking for 93 and then 95 93 50 I should say okay, there's 93 50 still looking for more looking for 95 Consideration up at these levels here see where it came to here. Let's just let's just zoom in so 94 and a quarter Okay, take some off. Okay as a consideration and your trade management. This is not these are not trade recommendations I just need to reiterate that from our risk disclaimer and disclosures here You understand that but you're just reducing risk here. So that's the consideration Okay, so in here Wasn't quite ready here. We're looking for it, right? We were looking for the break here. This is where you get in This is where you are looking for taking some partial profit and this is what you're holding for for what? 3800 all right, so I'm just outlining here again. This is not a trade recommendation But using order flow To read this in here put the pieces together to offer you an edge All right, and now we're looking for follow-through still Okay to the upside All right any questions on this let me go let me go back to YouTube here and take a quick look a little Hauser for good morning, and let me look over here in in discord Good morning slowdown. All right. No questions. Okay, great All right guys. Well, anyway, this is scenario number one now. We've already reduced some risk Okay, so we're going through a trading plan here We got to go through the opposite because I was just afraid of this to happen here So we got to go through the opposite scenario here. Okay, because this is what we're talking about here Is we're looking for that edge in the order flow now we're and we reduce risk. Okay great now What do we want to do with the rest? Okay, so Looking we see sellers just came in. Okay popped it down here to 92. We still have more buyers Good morning Tex-Mex All right guys. Well, so Well, anyway, like this is where we were we were it was just tested where where it broke out from here Where we were looking to get in and ride this up Okay, so now it's really up up to you like how you want to manage this Allen are you in here? Allen was our poster boy for a long long time To look at these areas in here look for something high probability And then and then just all in all out Okay, so you would have taken this in here around this area here around 90 Let's just be a little more precise 92 on up to about here 94 and a half. All right, so there's two and a half points and It's up to you like what it what is your time frame and what is the the amount that you want to risk? Okay, so if you're looking for I would I would say this as I was saying to Allen Build confidence in some of these moves. So you're just looking to take that off, right? And and and now you have a winner look for the next one build confidence. Okay scaling in and scaling out is much more Much more complex And there's a lot of emotions that get wrapped up in that etc. This is just looking for something high probability and getting out All right. Now you can see the the higher time frame starting to work out here Here's here's our buyers here Now let's see if we can get back up and let's let's look at this in here They're pulling this liquidity here. I don't see anyone on the bid yet, but we are getting our green dots here Okay, this makes me a little queasy right now because look at this here are buyers, but we're not able to lift the market Why we'll look here. We have iceberg orders on the other side absorbing as much as they can here It looks like okay. It's quite quite a bit. It's about a thousand icebergs. Let's turn on our on-chart iceberg Order, okay, so we notice something was a little weird here, right something a little strange They pulled that liquidity look at all this buying. Why isn't it going up to 97 and and and 98 99 3800 Okay, well, it's because it's running right into these icebergs Okay, so Let's turn on the on-chart here That's fine Now icebergs, whatever. I mean, they're still here 1141 was what pretty big one transacted there. It's still in the market here still Ready and waiting to to trade more. Okay, they're selling here Okay, now do we have enough buying pressure to trade into and through these guys and still hit the figure? Okay, so there's a lot of gaming going on right here right in front of the figure at 3800 a little, you know five points away from the figure at the moment But pretty big iceberg I hit 1300 now thirteen hundred contracts. It's still here Still in the market still transacting hasn't gotten its full size on yet This is looking more like a stock to me I've seen this with stocks before Iceberg detector does not work with stocks, but I've seen it before. It's it's pretty amazing to see a Price comes into an area and it just is Relentlessly like hitting the bid or whatever it is, but someone's on the other side and they are not letting it drop one Cent not one cent Finally that the sellers give up the buyers come in and just it rockets to the upside Okay, so This here is the opposite. They're on the offer and did they absorb all of that? buying pressure into the Iceberg yet. I don't think so. I think we're still Still looking for some more buyers in here Okay, here we go. Let's see now. We'll see how much this guy actually has on maybe it's 2000 Maybe it's 1500. We don't know we don't know the size of the iceberg. We just know when they're transacting Okay, or and if they're still here in the market. All right, here we go. Let's see it big transactions 1700 still in there still there still transacting and 1800 It's running right into iceberg Okay, see it see how that that they completely absorbed all of that buying pressure completely absorbs it This is why sellers are able to take it right back down to the bottom of the range and possibly to the next Bottom of a range down here right Just saying you know look these tools are pretty amazing and it's giving you a lot of insight here So if they can't get through it you look for a move you can look for a move to the bottom range Or even continuation, maybe even a reversal Okay, it hit up here three three or four times now and Not able to get through this area Okay, so it's got to come back down. We got to see it come back down here and And then re-attack this area find more buyers at a lower area here If if there are more buyers See how you can put that together within your trading plan here Like this is this is a confluence in here And see how that that can give you a lot of insight and they're still here 1862 there's actually two icebergs in here and we see two transactions Okay, so we can really get into the details here if we zoom in I'll I'll refrain from doing that but There's two different icebergs. That's the slash two means here the one in parentheses or the two in parentheses here means how much Traded from one of those icebergs Or I'm sorry the number of This week Here, let me let me show you here. Okay, and the knowledge base This is where you can find out more information about it go to book map calm go to the knowledge base click on add-ons here And then in here click on the on chart indicator For stops and icebergs. There's sub chart. Here's on chart Okay, and scroll down here and You know this goes through all of the different settings and Outputs, etc What everything means right? Okay Interesting interesting insights alright, so back down to this area here and We're about eighty eighty seven and Back down to the range back down to where it broke out from here This should have gone right? This is pretty amazing stuff This should have gone up into here And now we know why This this player here or these two players here one in particular no no question about that All right. Well, anyway, I you know We don't want to use the icebergs and stops as a signal Okay, it is just a part of the order flow And therefore it is only a confluence Right, it's not a signal The the order flow in the bigger picture is telling us well It's being absorbed up here the iceberg is telling us who's absorbing it or you know how it's being absorbed And then the order flow is telling us there are no more buyers in here Interested in taking it try to take these guys on anymore and we see the drop Okay, and again we covered this beginning of the webinar that we see this behavior a lot of times Okay, I thought we'd get from here. I thought we'd get up up to thirty eight hundred and then This iceberg in here just absorbing all of this in here and then Look for sellers to try to take it back down into Bottom of the range here and they took it and we talked about it. We talked about 90 Okay, as a potential move they can also take it down to the bottom of this range Well, they took it even further. Okay, the market has gone back down to the bottom of this swing here All right. So now let's look at the bigger picture And start to put pieces together so it could still come back down into this area here Price could come back down into 80 80 or 82 here And you can still be bullish it's a strong move to pull back followed by strong move All right, so We're what we're waiting and watching in here right now We got a little consolidation period in here And let's see who wins the battle outside of this consolidation period here Thanks creative three three one Bert what didn't you know and we got my loco in here too good morning. Oh the two. Yeah Well, I think it's actually number of transactions is is the let's let's take a look at it here We can figure it out. I believe it's the number of transactions that slash two means two different icebergs at the same price level Okay, now one just got filled there and the other one was still in there for a second All right, so here. Let's take a look at this one, right? Here it's it was two Because of one two right here. That's it Okay, and that was it so it the in the parentheses. It's two for two transactions Okay, it's for 40, but there was two transactions. Okay volume of 40 All right, that's what it is the slash after it signifies how many icebergs So there might be you know minimum of two if there's gonna be a slash there, but it might be four or five I don't know. I have never seen I think I've seen three or four, but I've never seen really more than that See here's a slash two right there and You know this is where you really have to kind of zoom in to get the the full details if you want that it's in there Right, but it you know you because it's gonna get really muddled because if they're at the same price level Which one is which you know, and they're they're just going back and forth so We just we just know the overall and that's good enough. I mean that's plenty That's the information we need to know. All right, so we're back and forth in this little area here Let's see what we get. What do we get? Okay, guys, so we have that was a really nice Insight up here with this iceberg detector Okay, here come some buyers, right? So we got the back and forth in here. Look at the iceberg buying in here as well 3740 calls 3735 3730 not sure what you mean That's way down here Yeah, I mean maybe maybe you know, I mean look it's there's a lot Going on up here at the figure You know, these are bigger. This is a lot going on here All right, here come our buyers, right? So out of this out of this little pattern here The buyers are winning this Consolidation period looking for them to come right back up here. Okay, right back to these guys here Okay, retest these guys at 95 Looking for it, right now Again, I kind of I kind of miss this but this is the same process. We just talked about in this area in here looking for the pressures within the range buying pressures buying pressures into this through it up into this 91 a Little bit higher and then now we're getting a bit of a pullback here, but remember how we we looked at Ranges, okay, and measured moves in here. Let's just go through it and this this is that discussion And I like this discussion. I don't know if it's resonating with with with you guys or not but You know, we're just to kind of debunk some of the just Information out there about fibs and all these different things but measured moves make sense Due to the order flow All right And we can see we just bounced off of this here Okay, and that we're back into this range in here Okay, so right back into this range in between 90 and 87 All right, so we came back down to the bottom of this range here But we're right in the middle here now who so we saw the buyers win this and now it didn't follow through However, you can reduce some risk and look for the next one Take some off reduce the risk or let's suppose you're just trading one contract You can do two things. You can take your your profit up at a like a Very high probability kind of move up into an area of liquidity to test It may be up to here this level here. It came just shy of it Okay, or look at these transactions here. It came right to that Okay, right here You'll have to kind of look at it here. I mean, let's just zoom out a little bit more This is the this looks really good right in here, right? So and that's exactly where it went to and then it failed and came right back down here Okay, now right now. We don't really know who's in control in this area here It looks like buyers here, but they were out of control as soon as he came back down to the bottom here Okay, well, we still see a lot of buying and now we're back up into this range All right, let's see if we can get it more a little more buying here a little bit of a boost from the bid and Them to pull here at 93 Okay, looking for that scenario and then looking for let's see if we can get it No sellers Okay Here we go Okay, more buying more buying. Yeah, I'm not I'm not I'm not too eager on this one right now Not too eager I'd let that pass Okay, we can even look at the opposite scenario here. You can see the break Okay, and back down to the bottom of the range here Okay, let's see if we get one more push from the sellers down to about 86 and a quarter Okay, and now why wasn't I so hot on this one here? All right, I saw I saw the buying in here, but it just wasn't lifting the market And then there's this little back-and-forth in here if there was a retest if it came down here and we didn't find sellers And we came back up here again. I would be interested It now is tested it a few times. We found you know a lot of buying up here We're looking for the follow-through Right in this case like it's the opposite scenario. We didn't find the buyers We found some sellers in here and it and it broke the range and now we're coming right back up Okay, we see a little bit on the bid way down here though at 88 Yeah, I Don't want to see him at 88. I want to see him up higher. We got our buyers again All right buyers now Val we should now we should see it see them pulling here. Let's see the bid show a little bit more Okay, and now looking for 93 and 95 and that's where our iceberg is remember 95. Okay, it still still looks pretty good Still looks pretty good Okay, be careful here. This is this is again. I don't feel too comfortable about this one because We may find the exact opposite scenario. We need to be kind of careful And then the sellers come in here if they can't lift it here now. We got to 93 All right, but we haven't really seen the follow-through yet And we just didn't have much on the bid and and these buyers couldn't couldn't lift it here now Now we're getting it. All right. All right, so what? We're up through it looking for that iceberg to test one more time and we'll see how much this iceberg has behind it here Hey, this looks better in here. See how this looks better Can you see the size of the dots? Right? All right, so there we go. It's still in here. My god It's up to like 2200 2250 They're they're getting on as much as they can 2400 Hey pretty big Totally absorbing it look at the edge in the profile that this iceberg is creating Guys, if you if you like this video, please please subscribe or this webinar This is our education. We go through this every day here. I can't can't make it Maybe we'll get another attack here, but it looks like sellers gonna try to maybe Bring it maybe back down to the 88 ish level down here Can't get through it a Super like okay. Thank you on that. That's very nice to hear. What are my settings for iceberg? Sure the on-chart Brian or the Subchart here. We have to it comes with the MBO bundle package Guys just so you know that the MBO bundle package it that is it sold On the book map marketplace. That's how you get it. It's not part of global and global plus, but it works with either one The on-chart okay my on-chart settings. Yep. Let's just go to it here Here it is and show icebergs So right now you can see I'm not filtering for anything in here that I want to see all iceberg transactions right now So that's why you're seeing quite a bit of lines in here and you know quite a bit of noise in here I'm afraid to filter it because I I want to see what's made up that this whole iceberg here Sometimes you'll see you won't see an iceberg here, but you'll see it in the subchart, right? It's not an error. It's because you're filtering for it here because you don't want to muck up your chart So you can do the automatic threshold here And see now it's a hundred and see it's grayed out here, but 124 is what it's going to show as the minimum threshold, right? So any iceberg that Full iceberg now a full iceberg if it was 50 if it was a hundred it's not going to show If it was a hundred and twenty three, it's not going to show It has to be a full that the iceberg from the beginning of it to its transaction or cancellation or its Execution full execution it has to be above a hundred twenty four else filter it out So that that's how that works So what now this one's still in here. So, you know, obviously it's one iceberg For a lot plus another iceberg for we don't know exactly how much for that second one All right, we just know there's a lot up here Okay, so that's how that's how I've got it here I don't I don't have the threshold on see if I Deselect it here. It's still 124 here manually. I just put I have to input zero Okay, now now it'll show all icebergs again right Yeah, so up to you Brian play around with it to find what works for you No, the the iceberg trader 80 8g it only works for CME group instruments and you must have rhythmic data All right it that's that's why it's so specific That's why we sold it separately on the bookmap marketplace if you're interested. Let me show you where it is Go to go to book map calm And then click on the more button And then go to the marketplace here, right? And you'll see MBO bundle here. That's the one click on that and it will take you Should take you right to it, but It's not at the moment I'll make sure that we get that fixed and if you scroll Scroll down It's not here. Okay All right, so just search for it in here MBO All right Search There it is right here. Okay, so here are the details on it Sold separately right works with global or global plus, but remember it's very specific. It's only for CME group instruments and only for With rhythmic data, so you will need a subscription to rhythmic data, but you can get that here from the marketplace as well Okay, right here So you don't have to go through all it you know go back to rhythmic and whatever I just scroll down and click on rhythmic here That'll take you to Hold on That'll take you to here All right, and click on that and here you go So you can get rhythmic data for the CME here for 39 bucks If you want the full CME bundle, it's 99 bucks. All right data is expensive guys. It's just part of the game All right, so we're back up here to this iceberg. Look at this That means this is telling us something. There's a lot of buying pressure in here Okay, I'm just intrigued by this guy here. How much size does he have? How much is he willing to get on here? Is he trying to stop the market from going higher? to hit 3800 I mean, it's You know, he's definitely like literally drawn the line here in the sand Right, and he's just staying here and getting filled and filled and filled Okay, let's see if it's we've seen 3000 as being the kind of big big number lately 3000 contracts one player 3000 contracts Well in this case two players I guess but there it is over 3000 And can't get can't get above it guys. This is a really good example of absorption Okay, it just happens to be with an iceberg Okay, in the heat map you'll see the same thing in stocks and And why I'm going over that is it's really important to understand these the terminology Because this is how the market works and it's being visualized for you right in front of you All right, so and we're getting a lot of insight from this So God, I mean you can just keep on trading and trading it up to this guy basically Look at the look at the profile. I love this kind of stuff. Look at the profile here It's just it's it's kind of a laughable You know it There was some that traded before this iceberg came in and that's it Here it is 4,132 so far and it's still there Hey If there's still buying pressure this guy's gonna get his his iceberg filled and we'll come come back up into these higher levels here Hey, this has got to be the high volume node for the day and it is Okay, so and it's due to this iceberg really interesting iceberg information here and classic classic Example of absorption Doesn't get any better than that Hey The beauty of it too is that we don't even have the heat map in here There's 200 contracts here on the on the young and just just a just a little bit ago. There was a hundred and sixteen here Right or five seventeen forty seven. Look at that Right We're seeing thousands of contracts trade up here and they can't trade through it They should be able to trade right through it. There they go. There they go. Finally. We got the break Okay, this guy got filled completely executed actually there was 13 icebergs here So a lot of people joined the party here for 6214 contracts Right and here's the move up and the move right back down. So we got some volatility right around 95 right now Wow 95 look at that. Okay. Where is the selling? Where's the buying pressure now? That's all the way at the bottom. Okay. I thought the jolt's job report was Opening's was a little bit later No, let's take a look now. That was at 10 a.m. Right or 10.05. It looks like Yeah, 7 a.m. Pacific. Yeah. All right. So not able They got their size on and went through it and then look at the rejection Okay, so and now on this smaller time frame Sellers took it down. They took control Okay, back down into this bigger range in here. All right now. Let's see if we can get more sellers Look at this one iceberg following okay, looking for some sellers back down here and and Break into 85. Let's see if we can get that Liquidity is down here at 85 our beautiful big profile here for the session at the bottom of the profile is around here 87 or so Hey, but the liquidity is here at 85 So somewhere around in here kind of looking see if we can get sellers to Trade back down there. Here we go. Let's see it sellers. You've got it and let's see if we can push it here So another little retest there hit it not yet not yet That's why we want the confirmation when they're gonna hit it You know what we're looking for That this combination of things in here Okay, we still may get it Okay, see it. See how this is our pivot points that we've talked about and there is no indicator for it But we just kind of mark it up We note where the sellers took it took it down right here and we have buyers back up above Here's our measured move as well and if this fails here up at the top of this range Now we're looking for sellers right here at 90 and a half All right, so let's see if we can get that and and not not even close Buyers are taking it away here Right back up to 95 Wow guys, we haven't taken a look at our bigger picture yet So we'll take a step back here and let me also get to your any questions in here that you may have Okay Interesting discussion going on in here and about some of these levels in in YouTube Good morning Carol Well the icebergs there. We just know that they're getting filled on the offer their position We don't know if they're getting out of a position or if they're they're selling to enter a position. It doesn't really matter It's the number of transactions that really matter James, there's no way to know the intent of the orders Sorry for the cats, okay? Yeah, I mean there there there is When we get the confirmation So and that that's what I mean like when we trade up to a level and And this is kind of what like Scott Pulsini goes through. It's the order flow event Right, like we don't know if these are buyers or sellers up here. I Mean that we know that they're selling icebergs Okay, and we know they want to get their position filled.  We want to look at the order flow. It's like the news the news is the same thing We have the news event and now what's the reaction to the news? And that that's kind of the key All right So the order flow event is is very similar. It's the You know and the beauty of the order flow is like in are the argument here is this like well, okay? that that This is what traders think of This instrument at this time. Okay, so, you know here here. There's some sellers here. Yeah, I'm looking for them to hit the bid I'm looking for 88 87 86 Maybe our 85 level here, right? They're winning this battle here There's back and forth in here right looking for them to follow through now okay, so You know that that's again, but based on the order flow in here that we saw previously Okay, now This is where we get into like we don't know You know what let's say, you know a whole bunch of buyers come in on the other side here and Lift it right back up to 95 and we don't know that but you know We can look for in general what we know is that there's more sellers in here and they're kind of controlling this market So we look for them to take it lower All right Now this is where we get the insight to see the reaction to this liquidity here So that that's the intent James. It's a very good question James and I really I really like it. I'm glad you asked this because it's the intent of Well the intent of these traders here Who who cares and we want to know the reaction? To this liquidity here and it sold off and it sold off into high liquidity down here Okay, so we're looking for 85 right well that just transacted Okay, so 86 85 and then they're they're this guy is still in here or this it's a larger player along with others At 88 and a half, but they were also here at 87 So this is we're getting some you know some pretty aggressive stuff going on in here And buyers took them on at 87. So they're still buying pressure So if they can come back up, maybe they can trade up into 88 and a half and they did And they did trade with this guy and see now we can see the battle still kind of raging here And we get more buyers. We get more sellers Okay, what's the reaction to these orders here? That's what we want to know that kind of context Okay, so it's becoming a little more difficult here. Well not anymore. There we go We found buyers they traded into and through these guys here now. That's our event What's the reaction after okay? Well, we're still finding buyers here. All right So if if we can still find buyers in here, we're looking for up to here these levels 94 to 95 Okay, now we got to be careful here because what is what are these orders telling us in here? All right, that's what we want to read and Are it's we're not we're not getting too much information here right right above this this 90 level here Not too much information like there's some and then there's some selling here There's some buyers here and then again some buyers here, but see how this is After this event here Well, it's still above it. It's still accepting above it, but this does not Look like the players in here are not really telling us it wants to go up to 95 right now Okay, it had his potential Okay, but this is where it's like, okay I'm gonna filter out this trade idea until I have some more information Okay from the participation of the orders in here of the players in here via their orders Okay, now guys pulling at 92 and a half now we got our buyers here seeing a little more on the bid Hey, this is looking better. I still don't like it, but I would look for 94 95 to transact here. I Just don't like it because they're We're not seeing the buyers really come in hand over fist here And then the sellers or the buyers are down way on the bid down here at 89 and a half All right, so does that really give me like a high probability? Insight here that we're gonna we're gonna come back up into 94 95 not really. Okay. Now if we see a test down here Into this 89 and a half level or maybe even a little bit lower And they stay in the book and they add even more and then we see the reaction to that is that they're staying in here And then we see big green dots charging right back up to the top I would look for not only a Retest to the top of the range, but then we have the potential more likely for our breakout into 94 95 All right now. This is starting to work out. Okay. This was the What do you say is the directional move we were looking for was still 94 95 We just didn't get a high probability outlook via the order flow Okay, big big distinction to filter out Some of this in here and look for something that just you know is kind of Really telling you what what where price wants to go? I Hope I hope that's that's helpful now. We need to put that into a plan Now look at this Buyers back up here. Do we see our iceberg up here? Nope a little bit a little bit There was 13 icebergs up here. They're gonna be up here again. I'm sure We just see one transaction for 37 so far Okay, now if they're and there's high liquidity here at 95 too And so they're still defending this area here at 95 There's our breakout There's our breakthrough Okay, stop run beautiful stop run Okay, this is it. This is a volatile area here very volatile very sensitive to this 95th level But what what is telling us here? Well? It's not telling us that much if this is a stop run here and that's all it is Well, then it's not saying that this is new buying back up above back up above here Okay, and it is a it's a huge stop run It's it's huge If we add all of these together in here Does that equal? We can put on our sweeps indicator And kind of get some insight here on this sweep Okay, now that the sweeps and absorption indicator the they We covered it last week I'll point you to the webinar if you guys have questions on that But what we're gonna do is we're gonna compare the stop run here versus the order book sweep All right, so that'll filter out You know The the stops so we should be able to see the The we minus the stops from the sweep or subtract the stops from the sweep Okay, so oh I have a filter here All right, I don't want a filter Okay, okay, so just a second here All right, there's our sweep All right, so we had what? 68 stops okay, what do we have for a sweep? 589 for our book sweep now So I would say the majority these are stops then there's no question about it like our sweeps There was a couple different sweeps in here as you guys know and They start here But all of this volume here is not in that calculation So that's why it's less than the stop run because the stop run started over here right here is where that stop run started Okay, so it includes all of this volume That's why this is rare that you find that there's actually more volume in the Stop run than the sweep, but in this case the sweep doesn't include this this volume in here All right, so what does that mean that that means that this move here now This is we're gonna go over the order flow again And we're gonna get some information from this and then we can kind of figure out where price might be going next is That the volume the buyers above this area here and we're looking to see if we can get buyers above it We did but is it real buying new buying in here for position? No, it's not Basically, it's capitulation And if we find sellers on the other side here, they can move this pretty quickly to the other side okay, and We'd look for that all right now This is where you have to be very careful about sweeps and about Stop runs Okay, this is correct that these are a lot of people getting stopped out That that's correct Okay, but it doesn't matter and we look for a scenario where we get sellers on the other side And then and then a drop back down But it doesn't matter That is that is a stop run if we get more buyers back in above 95 in here and you know price Is accepting above 95 here now we're looking for the figure. Hey, it just doesn't matter Right. This is where I think a lot of people get hung up on stops and It you know it is telling us something Okay, and we're looking for now an order flow That was the order flow event was the stop run now. We're looking for what happens after the event Did we get those big sellers down here? No No, they just came back down to the bottom of the range in 95 here Okay, so we can put that into our plan All right, and we see buyers coming back in here buyers coming back in here great buyers in here Okay, let's let's see 98 test. Okay, and the figure. Okay, and the figure is probably already tested by now Yeah, it has. Okay, so finally 3800 now look what we had to go through to get to 3800 Someone here absorbing all sorts of size here at 95 We finally get a stop run and then we get new buyers coming in and stop runs too Okay, and people getting stopped out on up to 3800 now. So, you know look Let's take a look at all this price action in here That's a lot of gaming right a lot of gaming the price levels in here And and we're starting to understand though You know some of the games in here that are happening So another scenario now so now we're back down to 95 Okay, obviously obviously this is a critical area here at 95 Are we accepting above or is it going to reject and we see sellers come in hand over fist? Okay, if we do we're going to look for that and we're going to look for sellers coming in trading in 95 and then 90 You know back down to this liquidity here. We can even look again at our measured moves in here Okay, so range and then let's move these around up to here We're down to here Okay, beautiful 90 right there Hey, what about up here? Yeah, oh five or so Okay, now what's the order flow like within some of these ranges? What's the largest absorption? Well, it's in there was one particular stock that I saw it was years ago And this was before we had any of these indicators But it was just it was incredible. In fact, I was on demoing A book map to to somebody at that time and what happened was price like just Cratered into a level here That liquidity traded pretty quickly And then, you know, I don't know it's like 50,000 60,000 shares or something like that But it was you know for that stock that was a lot and it just it I Mean it was just so apparent that it was an iceberg It was it was amazing And you know, you'll see that you know, not not every day but That kind of behavior. I mean just so vividly. I Mean, he's just really broadcasting himself.  It was just here's my here's where I want to buy And you're broadcasting it to everybody so Yeah, that was an interesting one. All right, let me get back here any more questions Sam if the like this iceberg up here this 107 it's above the price right now So this these are sellers. Okay, it doesn't matter if it's blue. I mean what color it is like this the same color on either side Then you know that it's an iceberg Selling if you see it above above the price if it's below they are buying All right Yeah, Ben you can trade off a trade of eight in book map. You can connect to trade of eight and you can trade No problem to any captain price lots of different stuff in your boy. You I remember Sam was a Talking about the yeah, you whatever you're drinking in your coffee or putting in your coffee. It's working. I'm just kidding, but A lot of energy is fantastic. Thank you. All right, so let's just see what other kind of questions we have in here. Okay Nespresso, yeah It's still accepting above 95 right now, right? And all it's doing is just going back and forth right now We don't really have too much inside. I'm gonna filter guys the on-chart indicator For stops and icebergs. Here we go. I Really love this filter and we've we've used this now for many different Products here See how it was 124 now at 70. Okay, because what is doing what this filter is doing is is taking the standard deviation, okay? The sd over an interval of 60 minutes here. I think 30 is the default I think I was demoing it and I never changed it back to 30 And then that the multiplier here so you can take that mode the it's one standard deviation now You can make it, you know more right and then you can see look what happens here See it's grayed out so I can't touch it unless I Deselect this box here now I can input anything I want manually All right, so this is a way to play with it and using time frame and standard deviation is good So it will always be Changing this number will be changing in here always Okay, so I really like it. I think it's very intelligently done and Let's let's do the same for the stops here now see see what we've done Even with the stops now 56 or greater is what we're looking for and see how it filters out a lot a lot of noise in here Yes, we're just looking for the bigger Bigger transactions Okay, we have our sweeps indicator. Look at this. So look at this in underneath here So there's a there's a real nice that looks to me like a spoof, but There's a here's our reaction to it to trade up into the figure again, right? So there's an iceberg going off again. So let's see if we can pop now a little bit higher here High of the day is up here at 01 or what is it? It's just a little bit above the figure now it does not want to look at that look at that All right, so that's interesting there that that's telling us something, right? So there's moving it away from the figure very very quickly Okay, 93 92. Let's see of them drop it into that. Okay. This is some big selling in here Okay, trying to pull it away back to 95. Let's see if they can pull it away from 95 back into the range 93 there we go. Let's see if we can get a continuation here through this liquidity here And on down to 90. Okay, there's 93. There's a sweep into 93 still looking for another move down into 90 here Okay, guys, so and and 90 matches up to what we had kind of marked up here Okay, this is our range. This was above the range here, which we never got to And then now we're looking for the move back down to the bottom of the range traded into high liquidity here Okay, and through it. So looking for the sellers to hit down into 90 All right, and let's talk about this like how you know trade management and considerations This would be really hard to catch right here Okay, you can't you can't really catch that unless you're positioned up here All right, maybe if you're really quick on the on the on your with your fingers here You wouldn't catch any of this in here. You would have to be in it Let me explain why in here Okay, there's there's just no way you could be it you could catch this. It's not possible And less you were in it previously This is because this is one event here that unfolded it unfolded here and This was the last time best bid and offer was updated was right after this event So this is one event now This is the way the exchange and and this is a part of this is really important part of our education This is why I spend some time on this to go through for you guys here because once you start to understand how these markets move in here and That will change Your understanding here of your strategies and indicators and everything and this is something I think unique in bookmap education And it can be used for anything though All right, if you if it's volume profile trading if it's like pattern trading You know if it's a Wycoff Distribution levels or whatever it is it doesn't matter this all this is how the market works and everyone we should all know this And we can apply it to anything So why is it not possible to get involved in here because it's one event It traded into this high liquidity and they traded they blazed right through it look at let's just go through this event here This is this is really important. I I feel okay I mean it it might be a detail for a lot of guys. Let me just let me just cover this here They swept the order book lower our sweeps indicator pick that up. Okay, and And Was this let's see if there's any stops in here. I yeah, we do see stops here Okay, but the stops. Let's turn our stops all the way on to we'll go through everything in here And bear with me on this because it's like I said what we can take away from this is a lot So we're gonna turn off our filter on our Stops and icebergs here. Okay. It's being filtered out. That's why we're not seeing it All right, so we turn turn this back on we'll get our stops in here. Okay, so this is what happened Sweep the order book for this sweep here was From here to here was 205 contracts Then it swept it again here Okay, now this is not this is the same order Okay, and it was it's still Transacting this is what when you hit market sell order here It is still transacting here for because you've swept the order book of all these areas here You've taken all of this liquidity here 37 110 and 80 now note that the traded volume here. This is really fascinating stuff Note that the traded volume here is equal to the order book Because this is one event and the best bid offer have not updated yet even this one here. It is the same as the the bid here All right for 459 and then this one here is still transacting Okay, 31. All right 31 have traded out of 88. We haven't gotten through it yet Now they're equal because this is that one event that is still unfolding Now the CME the way we get the data from the CME or the way the CME You know trans transmits this data here. This event has precedence and Then there's also a precedence in the queue for the aggressors. Okay, there's two different queues here We always talk about the queue in the order book Okay, the limit order book the passive orders how they're always, you know pulling and adding liquidity In here. Okay here It's something different We're getting the precedence by the aggressors and the precedence is this larger player in here This one order has precedence it transacts and Then if there are any other orders aggressive orders that are related to this event here Then they will start to transact after this this one order is finished So for example stops, okay, and where are our stops? Okay, I guess I still have the filter on hold on. Yeah, I do now it should Should be showing oh wait no Sorry guys That's the alert threshold Okay This is alerts. I'm sorry. I got that wrong. All right stops here. This is why Okay, so we need to take this down to zero Okay, okay now it'll show. All right, so this is good. Okay, so here's what unfolded this large order unfolded Along the way from this point From this point on down Okay, from this point on down There are stops in here. We don't know where those stops are Okay, they're they're in here somewhere all the way down from this price level here at 99 and a quarter all the way down to here at 97 They may be all at 97. We don't know right, but or maybe one tick above 90 90 So is this actually 96 and three quarters? All right, so they may be at 97. We don't know what we do know is that this order transacted Foley is a market sell order okay, and Once it has triggered stops along the way now the stops start to Transact and this is how you get slipped and Now we have 30 only 30 were stopped out here. Okay, not many after this big event and now how do we know That this is one event in here is because look out the best bid and offer update Much later. Okay. In fact the best offer updated first than the best bid All right, so and look at and we went through this here as well the right in here the Transactions are equal to the book Okay, because it swept the book. So all of these cells here are equal to well once we get all of them in there They're they're equal to exactly what's in here in the in the order book Should be 115 111 I'll have to look at that in more detail the Anyway, so it swept the order book it swept all these price levels and and and then and then these stops get filled and stuffed here at the end and Now after that event took place, okay That these transactions took place first the aggressor the seller then the stops then they're filled Now best bid and offer update that is the chain of events here And you can see it as well here this liquidity here. It's why did it stay in the order book? It didn't stay in the order book here It completely filled right, it just got updated here and That's where we see the 446 All right Because that high liquidity all filled Okay, so it's important to understand these things. That's what unfolded here The data here is very high quality and then look at this on top of that This is kind of wicked wicked stuff after that run here and iceberg on the other side Okay, so they're not even going to show in the order book. They're going to cap this off to Keep people or to keep price to float back up here So a lot of times there's a vacuum in here and it is precisely like a vacuum That if there's a whole bunch of sellers in here Maybe the best bid and offered you can see this the spread in here. Maybe it updates a little bit later and What does update a little bit later? but it's easy for a One one lot to trade back up here even though it took millions of dollars maybe to move it back down Okay, that would be your low volume pullback or your vacuum fill in here like a gap fill. It is no different It's all the same stuff Instead, we're not going to get that because there's a larger player on the other side here that Immediately after they did this they're getting filled. Okay. This is the game that they're playing They're getting filled on the offer here All right. So what happened to price? Well, it just it cratered down into our 93 level and we were looking for our 90 level and And it came just shy of it Okay, and now we're right back up here again. Okay Hold on. Let's go back here. All right. So anyway Pretty successful event there to get priced down to about 90. It did 90 transact. Oh, it did transact right into it Boom right here All right All right guys. So anyway When we see these things, it's like what just happened This is what just happened in here and we once we start to understand some of these things in here We can look at these these levels in here and what James was asking like we can't understand the intent Okay, well, we can understand the event and we can understand what happened after the event Okay, and we're looking at the again the what are the reactions of traders After some of these events take place. That's what that's what we want to understand. Okay, and and that is Is is a great way to use order flow? All right long diatribe on that one Let me know if there's any questions on that And I want to get that some of these ideas. We've covered some of these ideas before many times But this was a really good example here And the different kind of gaming of the market and some of these price levels up here Okay, now we can even come back here and look again here and This is where sellers took control of this market We they are still in control even though prices back up above some of these levels in here In fact, let's just mark this up in here. Yeah, I really want to I really want to see what's going on around this level here Okay First it was our 95 level now. It's actually 97 and a quarter That we're interested in and also this level here at 98 and three quarters or so okay It's where 90 at 95 level is yeah, it's still important but These levels in here. We really want to understand here Okay, but And we're getting our answer here. Hey, so sellers in control below this level here now. They are being tested again Hey back into the figure here once again McLoak, oh, let's see seems like they don't on purpose Stops hunts Not sure what you what you mean. I mean, you know, the large the larger players I mean, they they're just they're interested in getting size on at their levels Whatever it takes Right to have that unfold. Oh, you're talking about the big drop this drop in here Yeah, well the stop run is like it's like a book flip in essence and you know flipping it's just it just kind of cracks me up Like, you know, we've been talking about Here, let me show you Do a Google search I can I can put the document in here, but just do a Google search for it CME rule 575 There we go. Okay, and there's a PDF right here. All right Now this is from the CME back on. Oh, it's been updated Okay, I don't know when this came out exactly It wasn't it was before 2020 or 2021 Anyway Disruptive prohibitive practice you can go to jail for some of these things Hey, it's it's criminal And flip of the order book. Okay, we've talked about flip of the order book many times Well, is this is this really a flip of the order book here if You know someone comes in with the aggressor comes in they sweep the order book and then they just want to get filled here No Right, so it's a way around. It's kind of a loophole a way around it in my opinion in my opinion that you know, we've got the Larger player who just kind of capped it off here said like, uh-uh, you know We're not coming back up right now and I'm gonna get more size on here And then we we see a nice follow-through and they got exactly what they wanted. Okay down into 90 beautiful Okay, and is it illegal? Well, maybe it will be in the future, but it is it isn't now Now an order book flip is and you guys know what an order book flip is high liquidity like it would be like this It would base it's basically the same thing high liquidity here Usually they don't get filled they just pull that liquidity then they have the market sell sweep through and then high liquidity on On the offer okay, so on the bid they pull sweep through and then on the offer So instead what we see here is high liquidity on the bid, but it did get filled All right, and then we see the sweep and then we see not we don't see high liquidity on the on the offer here Instead we see an iceberg. Okay, so this is like a variation of a book sweep right, so and and these things we want to understand we want to understand like a You know how how these how some of these markets not only function, but How they how can give us insight in here? Okay, and how they're being gained in here And once we start to understand the game we can also you know go along with it Anyway, the creativity is pretty I have to really hand it to some of these these players. I mean, it's pretty impressive I'd be able to do some of these things that's like, okay. Well, we're we can't do that. Well, we'll do this There is another reaction to it too like here. Maybe I can show you a video About it which I thought was This was years ago and Let me show you where it is. Okay, so go to our YouTube channel right scroll down Bonus material order flow education. It should be in here Let's click on it here in the playlist and then look at it in fact Let me go back actually hold on and open this and incognito so we can get the number of the video Is it this one? Not sure if it's this one, which is really nice to see. No, it's not that one Hold on Hold on we'll get there could be this one I try to come out here in the edge of team now. This is these are really old Boy, I don't I don't know where it is It I'll keep looking for it. I'll put it into the chat room guys in in discord It's um, oh, I'll go buying activity. This is it. Yeah, watch this. I wanted to cover some this was fascinating this was pre-market and This is again like aggressor behavior in here in the Algo It was years ago, but you know after this event here And it was pre-market and after this event that took place and again This goes back to James question about like we we can't understand the intent Well, you can you can start to put the pieces together here. This is the action here in the order flow and then We're looking for since this is just massive accumulation in here. It just went on for a long long time And then there was a multi-day move after this This was a big event and it was pre-market actually look, you know prices what 21 83 or something here on the S&P See the green dots in here now I don't have the dots very very high in here on the video But they're just just getting filled one after another here at these price levels This is that's why you see a green bar in here is it's because there's so many little dots in here They're getting filled. They're getting filled. They're getting filled. They're getting filled They're hitting market buy and just taking liquidity here, but they're Look at how nicely they're able to Accumulate here Right now if you hit the book sweep that we talked about that's when it sweeps the order book And takes all the liquidity at multiple price levels Here instead the algo is Accumulating a little bit, but not sweeping the book Then accumulating a little bit more and not sweeping the order book So they're able to instead of using a passive order here. They're able to use an aggressive order and Accumulate and then you know, they're moving at price against themselves in here a little bit Okay, but it's not like a big book sweep But but in here their average position is probably, you know somewhere around in here at this point You know something like that But the accumulations Tremendous and yeah, it moved price higher Over time, but they're able to still get on a lot of size in here without moving the market too much against them All right. So another and is this illegal? No, not at all It's here. Let me put this into the chat for you guys. It's video number from the playlist It is video number By algo activity here Then we just put it into the into the chat There it is number 21 video number 21. All right, I'll put it in the chat for you guys there you go and YouTube as well Anyway guys, like I just just want to say I know that we were covering a lot of we're here for the The live order flow But just seen some really good stuff in here to cover about You know and I want to I want to take the time to do this This is a it's an important part of the education and then once we go through things like this it allows, you know other play other traders here like Tom B or Scott or, you know J trader to also You know, they they already understand a lot of these things But there's details in here that maybe you know other traders even, you know veteran traders Maybe not they don't know about because they've never had access to them before Okay, not not trying to you know say Be it's not egotistical or anything like that or Just disrespectful whatsoever I just think about it for example a Brent Kachuba from spot gamma This guy's an options, you know whiz, right? He's talking about things that like, you know, I've never even heard of before and Yet when he had access to that hero indicator He also said I've never seen this before I've never seen real-time You know options information like this Displayed in a chart. So, you know, he had to kind of relearn or he had to kind of learn from that and apply it Right. So here you have an option. My point is you have an options expert Who who wasn't aware of some of these things because he never had access to it Therefore same thing here. Scott Pulsini or or J trader or Tom may not have had access to some of these things before Right, but we're covering it here. So everybody can learn everybody could put these pieces together and Now we're more informed. We can make better trading decisions Okay, and that's the goal in here And we can use this information to our advantage if we don't have access to information like this Let me show you what it looks like It looks like this a Candlestick chart, where's the volume? Yeah, we can add it in the sub chart. Okay. This is the volume you're getting Okay, just down here big bar, right you have no clue where the Where buyers and sellers are trading within this day here, you don't know Okay, we can look at it five minute. It doesn't matter It it's a We're just getting it. It's so opaque here You know in a candlestick my god open high low close. That's what you're trying to figure out in here You know compared to all of this in here Stop run the gaming the Oh boy, we're seeing something really good now guys like look at all of this liquidity in here So this was what we were studying earlier Or looking at and analyzing here. We came back up. We popped above again here We have we see a massive stop run here We see massive icebergs here as well on the on the on the offer Okay, so there's a lot going on right now This is and this is the end of the European Market here. Okay, so You know, these are a lot of larger players in here shoring up their positions at the end of the Session for them And there's a lot going on so now what we want to understand is the follow-through after those events And that's where we're going to read the order flow, right? So what do we know and we'll just leave it at this point right now? What do we know so far? Well, we have our stop run Rejection up in a stop run into high liquidity. Okay up into here. This is amazing Up into high liquidity up into these areas and an iceberg To stop run. I mean, it's just telling us all sorts of things and then the sellers come in and sweep it down below and And we get follow-through and there's still icebergs chasing after it here Down at some of these levels. All right, so what do we know? We know sellers to control here at this point Okay around 99 or so That's what we know Okay, now Maybe it will come back up in and test it and maybe maybe maybe all these sellers got it wrong We'll see it though. Okay. We'll see maybe a massive bid in here And we'll see these guys pull that liquidity in here and we'll see big green dots and we'll see a move up into O5 maybe 10 maybe higher All right, so and then we'll look at here. Let's look at our higher time frame Where are we here guys? We went through this yesterday and we're looking for a test up into some of these levels up in here And then we saw those icebergs. So we're looking for a pullback. In fact, I should go over yesterday's action Yeah, yesterday's actions, this is where we left off We saw all those icebergs and then we saw this move. We were looking for this move down We had our reasons. We're looking at this what's 80 level here, right? 80 level here And this is what we're looking at. So we were looking for a pullback Strong move on the hourly up into our 80 level. We're looking for a pullback And I recall saying well at this point after our move back down lower. We don't know Is it can continue lower? Maybe What we got was more buyers coming right back in and then lifting this higher We have the gap here this morning and the move higher now It went right through and it got it gapped above it It gapped above our levels in here that we're looking at Okay, and it came up and filled this this gap up here around 73 and I'm looking for this move up and I like this 05 here And I would be looking very very intently at the order flow around this 05 up here Somewhere around there and then also the next level would be like 44 up here So this is some pretty strong buying right now. Okay now That's what we see on the candlestick chart Okay, in the order flow we can see all sorts of other things going on in here, right? So We know that in this smaller time frame sellers took control And we see a lot of icebergs, etc. And this has been a lot of gaming around this whole kind of area between 95 and 3800 here here come the sellers again All right now. Let's see them drop it back down to 90 Okay, first stop maybe take some some risk off would be now It's not a trade recommendation, but we're seeing sellers come in and we know sellers are in control So let's see them drop it down into 90 Two and a half or so Okay, and then we have 90 down below All right, so anyway guys will leave it at that If you like this, yeah, let me let me actually maybe it's worth a poll in here I mean this kind of education like it do you just maybe a comment if you guys can comment You know give me give us a like in here if you if you can Or subscribe to the channel. I mean this kind of education. I have not seen it anywhere else And I know we're kind of extending it here But we're going through a lot of different things because we see a lot of interesting things in the market at this time so Yeah, if you guys like this just if you can comment in here You want to see more of it? Because you know, we want to go through the live order flow analysis and we are we are But we want to also Offer transparency into what's happening here, right? We really want to see that this is what's going to make a difference between understanding this or Understanding this Right So a big big difference All right, so anyway, that's a You know Pretty important distinction All right, so yeah, here comes our move right down into 92 and a half here It kind of bumped up Back to where those sellers came in and took control in this time frame Hey, and we're down at 92 and a half I'm still seeing sellers here so far. No now. I see some buyers Hey Yeah, we might might we might get a pullback up up into here, you know nine back to 95, right? but Let's see if we can get more sellers again and trade back down into 90 All right. So anyway, let's go back here YouTube Okay, great. Yeah, I'm happy that this you guys is well received here the This is where I think you know in my opinion. I think we're charting is going this is where Things are becoming more sophisticated For all of us as retail traders We're getting insight to tools like this that we didn't have access to you before And it's giving us a lot of insight. Okay instead of trying to extrapolate something from You know the candlestick chart here, right like this move here This is a bullish move in your candlestick chart, right? This is bullish. There's no question about it.  You're looking for a breakout. Well Here's what's happening. Why? Why is all of a sudden this happening? It's because of what's happening in here All right, it started here And this is a wicked move to all right, so anyway, I think I've gotten the point across But yeah, we'll go through more and more like this, you know more stuff when we see it So that you know, you guys can carry this forward to anything And and really start to understand some of the the details in here that will give you insight, right? This will add It it this should add higher probability outcomes to your trading activity Okay, because you have more insight of what's going on within some of these candles Yeah, Sebastian is useless unless you're able to read it and understand that that's why exactly exactly That's why we're here. That's why we're here to cover this content is such an important part is to go through the this Content here and education so that then we can read it you can ask questions And again, they go go back watch our educational course and then You know and then come to these webinars ask questions And we'll go through it all All right. Yeah, thanks guys and some nice comments coming through here Phil. Let's see. It's pretty easy stuff It's pretty easy stuff to be honest Phil I'll just I'll just I'll leave you with this I want to show you why it's pretty easy stuff. Okay, go here go to our YouTube channel scroll down Go to our educational course here click on view full playlist and then watch this part right here part one What we're going through here is is the this is the foundation Parts one and two but parts one is probably the most important. Okay, it this is how the market works How the market, you know, look at like in what we're looking at right here, right? We're seeing the aggressors in here sellers Okay I'm getting kind of choppy. Yeah, I'm getting a little bit of a delay here in data It's due to all the things I have open But see the sellers come in. All right. So sellers are taking control They're trading into high liquidity here, but there's more selling looking for them to drop it Looking for them to drop it into these levels here Okay, and how do I know that because I can see the sellers here and here and here Okay, now watch out If we get up here and we see buyers At 93. Okay, do we see them yet? No, so we're still selling Okay, and this is all learned from that educational course part one right here Okay, you will understand how the markets operate how they work Okay, and then we're just looking at a lot more details in here in this webinar Okay, and just from that little exercise right in here. We're at 92 and a half down to 90 and a half or And even further right. Do we do we think we were going to buy in here? No No way We didn't see it If we're we're watching if we got up here and we saw buyers. Yes, they'd be different, but we didn't We saw more selling. We're looking for them to come down to 90 All right, so it's not complex stuff. This is not rocket science whatsoever. It's actually quite the opposite What what is rocket science is all of this like candlesticks with indicators And and all these things in here is way more complex than this It really is this is just simple stuff. This is what makes the market move It is orders And we're very cleanly displaying that in here now we traded into high liquidity here and we got look Back and forth still sellers still sellers they could drop it here. They could Okay, now do we get buyers back up above this little swing here? Yes Okay, our buyers here not so good Here looks much better. Okay, great. Let's see them target here just here Just here. I'm not looking for more than just here Okay, so and they did All right, so Anyway, starting to understand how this market works. This high liquidity was a magnet for these sellers All right, these are really really simple concepts. So I would recommend that you guys um You know take a step back You know all of the all of the different ways of trading and this and that and you know Indicators and fibs and you know all these things just put it on the back burner for now Don't think about it. Think about just how the market works and it's really simple and then Once you understand that you can bring in some of the Previous education that you have And it was it should simplify and clarify what you're looking at Because I personally feel all of that other mumbo jumbo stuff is way more complex You don't even know what it's made of in some cases. You know, what is the stochastics? What is the equation of stochastics? What is the equation of uh rsi? What exactly is it doing? Well, I know where it's overbought and oversold, but like You know, that's meaningless and uh within the price structure and the price action Okay, things can be overbought and oversold for a long long time Anyway guys enough. I really appreciate it. I'll all the feedback in here and I've gone a little bit over these last couple of days Because we've seen some good stuff in here, right? And some important stuff. These are important levels in here And we'll go through more And polish it even more. But like I said you guys you'll you'll see how You can Use this back and you can integrate this back into Whatever it is you're trading if you're trading candlestick patterns, like if you're trading this candlestick pattern here Where is it? Hold on Yeah, like these candlestick patterns in here All right So like for example, this was this all of a sudden the the the bears came in but actually it's still You know, we're still making higher highs in here All right, we want to see the sell now we made a lower high in here But now can we get us enough sellers back down here? So this is a bigger picture look Right, uh, and you can look at your candles. Now. What makes up these candles in here? This is where sellers took control Okay, we know that this is where it retested and we didn't get buyers back up above it We know that too due to the order flow Right So now can sellers come back down in here and break this and then reverse it Then we'd be looking for the next level down here or the next level down in here Right, and this is where you can put the candlestick pattern stuff together with your order flow Right, but uh, just keep it simple for now go through the education the educational course, uh, and then, uh Start to understand some of these moves like we did in here like this move down all right, uh, and then Then you can start to look at some of the other things All right guys really appreciate it. Thank you everybody for Uh, you know your comments and it really helps me, uh to to put together like If this is helpful if I should go over more et cetera but You know, I think it's very helpful stuff I'm I'm covering it. I just need your feedback. It's it's really helpful And we'll we'll go through more or we'll go through other things that you guys want to look at All right, and uh, uh, and then we'll we'll hone this down. We'll we'll get really good at it, uh, at Clarifying some of these things for you guys so you can use it And and put these put these pieces together. Yeah, I can't I can't hang around longer. Phil I gotta go And I appreciate that though Guys thanks again come over to our discord if you want we've got a nice chat room over there And uh, uh, you know all sorts of stuff and materials, etc All right guys, thank you again, and we'll see you tomorrow with I'll be in for Initially, uh, and then Jay trader will come in And then he will uh, he'll go through stocks and we'll do some live trading right put these pieces together with his way of trading Thanks again guys. Take care


get started I am going to discuss immiscibility basic idea is the following that the Gibbs free energy is equal to the equilibrium criteria is minimum at equilibrium this is a general thermodynamic result because that constant P and P G should be a minimum for a closed system this is because V G is D of U – T S plus P V this is equal to for P V T systems D U is T D S – P D V therefore this is simply – S D T or they should read this is less than or equal to this is using the two laws where D U is equal to D Q – ? W ? W is P D V – P D V or plus P D V and D Q is less than or equal to T D S right since I will say since so G can only decrease at constant T and P therefore G should be a minimum at equilibrium G is a minimum at equilibrium let me write down G for a system of two phases there is a liquid phase alpha phase and a beta phase these are both liquid phases in the example that we have we had ethyl acetate and water and you are talking of Azadir actin distributed between these two phases so I have two liquid phases G if I write it per mole this is G before mixing this is G for the mixture is G before mixing I am writing per mole of the total contents plus ? G mixing or this is the same as G is the same as G after mixing I am looking first at a single phase liquid mixture I want to know if first of all let me write this out G before mixing is X 1 µ 1 pure plus X 2 µ 2 pure in someone do everything at constant temperature I will divide by RT plus ? G ideal mix plus ? G non ideal or G excess sorry I have G by RT is equal to ideal mixing is X 1 log X 1 plus X 2 log X 2 plus the excess free energy I will take the example in this case I will take example the simplest model would be porters model you have to write a model for excess free energy for the system this case it could be porters model which will then read a X 1 X 2 say µ 1 has some value µ 1 has some value this is µ 1 pure by RT this is µ 2 pure by RT this is X 1 so before mixing this value is the value before mixing it is simply a straight line because you are talking of two pure components it is X 1 µ 1 pure by RT this is the discussion I have done some calculations and plotted numbers if you look at the ideal case this one is always less than 0 right X 1 X 2 are less than 1 so log X 1 log X 2 are negative so that number is less than 0 so the free energy of the mixture at any point is lower than the free energy of this is G before mixing this is G ideal mixture ideal mixture would have a G that is always lower than the G before mixing so ideal mixing means all components are always miscible in all proportions because at any given T and P if you fix the composition the free energy of the mixture is lower than that of the separate components so if you keep them together and allow them to mix they will mix because this has a lower G than this and according to thermodynamics the system comes to equilibrium at the lowest possible G so this will be if you take any line here fix the composition this is the G before mixing this is G after mixing if the mixing was ideal that means as far as ideal mixtures if the ideal mixing theory is right all components are miscible in all proportions and the equilibrium state is always that of a mixture the idea in statistical thermodynamics is that the system in this state still has the choice of being like this I mean I mix the components they do not have to mix they can stay apart but that is not a equilibrium state because that state has higher free energy than this but if you take real mixtures there is interaction between parameters this has to do only with entropic effects effectively essentially it can rearrange itself it has more configurations available than it had before if you mix then you can have a component one in the middle two around it and so on various configurations whereas here it was one and one only one around it two and only two around it and no interactions whereas the that configuration is still available to it it has additional configurations in which it can rearrange any number of twos around the one therefore this is larger entropy and if there is no energy of interaction this will always be the equilibrium state equilibrium state is one in which there will be more in states available microscopically for the system then there were before mixing but if you add this energy contribution a x1 x2 for example if a is if a is less than 0 a x1 x2 is negative then again you get a completely miscible solution if a is less than 0 you will get one more addition here could shift things so this is a less than 0 if a is greater than 0 and sufficiently small you will get somewhere in between this is a greater than 0 but small I will define what a small in a minute but is a is large a greater than 0 and sufficiently large in what you could get initially of course it will be below the line but this is the ideal mixing line right so this case is a greater than 0 a greater than 0 you will still get to begin with it will go like this I suppose I have to draw this we will get a curve like this because a x1 x2 is a maximum at x1 equal to x2 equal to half so at x1 equal to x2 equal to half it can become positive or it can become positive at slightly so there is a range over which the net result can be positive so this will be the result when a is greater than 0 and sufficiently large so look at this mixture for example fix this x1 as the you put in a certain amount of 1 and 2 this is a is the point here a b c this is d this I should have chosen another point here let me let me redraw this curve to illustrate it and then it does not this can stay so I have a b c d e of which b c d e are all less than the free energy of the separate components so up to this point at this composition this is x1 let us call it a small a at that composition they are still missable in all proportions but if you go to this composition here for example draw a line here x1 b so we will say first at x1 equal to x1 a mixture always has lower free energy than the individual components before mixing this is the individual components before mixing were separate their free energy was at capital A it reduced to b because of the ideal mixing it reduced to see in the case of a mixture where a is less than 0 it reduced to a point d where a was greater than 0 but small it reduced till reduced to a point e when a was large was sufficiently large to cause destabilization but not enough at this composition but if you move to a composition like x1 b we will draw the same points a b c d e a is here b is still here below c is still here and then d is here but e is above in this case at x1 equal to x1 b point e has a g greater than g before mixing thermodynamics tells you that that cannot be the equilibrium situation at the same time if you look at this curve I can draw a tangent here you why I need to draw a tangent there are two minima in this curve and then a maxima if you look at this two minima these two constitute solutions of this composition x1 low and x1 high we will just call it x1 low x1 high there is a mixture of composition a homogeneous mixture of composition x1 low is a homogeneous mixture of composition x1 high and if you kept these two as the pure components and mix them that is suppose you always had solutions of mixture x1 composition x1 and solutions of mixture of composition x1 high and they formed a physical joint entity rather than a single solution then the free energy would lie on this line right the free energy would be number of moles of this times the free energy here plus the number of moles of the second phase times the free energy here because the total moles is one I always have a fraction so along this line the free energy is lower than here so this point here f f has x1 equal to x1 b a heterogeneous mixture of two phases of composition x1 low and x1 high has a g less than g at f I am sorry g at e or g before mixing you can take the case of g before mixing which would be this point a g after the real mixing because of the value of a the energy would have been at e had it continued to remain as a homogeneous phase this is higher than the separate components so it will stay at a but then there is another state where the free energy is even lower that is the point f here which corresponds to a mixture of two phases x1 low and x1 high therefore thermodynamics tells you that it is settled for that that is you will get two phases this one will have x1 low and the other one would have x1 high I am talking only two components here suppose I had ethyl acetate and water and I was not talking about azadiractin for example and have ethyl acetate rich layer and a water rich layer where say one is ethyl acetate two is water when I discuss the problem azadiractin I was talking about a liquid-liquid mix two liquid-liquid phases plus a solute distributed between them our interest was in azadiractin I realized that I hadn't discussed immiscibility itself so basically what we find is sometimes a system splits into two parts and this will explain why a system should separate into two phases what I have given you there is an example this A x1 x2 is only simply to do the algebra let me examine the algebra of that system a little more look at if you want to know whether there is a minimum and a maximum and all that you are going to do the differentiation g' by RT at constant temperature I take the derivative of that with respect to x1 I get µ1 pure – µ2 pure by RT that is the first term the next term will give me x1 if I differentiate log x1 I get 1 by x1 so I get 1 then I get x2 if I differentiate log x2 I get 1 by x2 into – 1 so that is a – 1 that will cancel so I have to only do log x1 – log x2 in the last one will give me I will write it below this a x2 – x1 if you look at g' by RT this term if I differentiate this further with respect to x1 this will vanish this will give me 1 by x1 plus 1 by x2 and this will give me a x2 will give me – 1 this will give me – 1 so – 2a so if you look at this case that we are looking at if I am looking at a sufficiently large I get a curve like this I get one minimum one maximum and another minimum so mathematically I should pick up 3 points there right g' will be equal to 0 at 3 points but if g' vanishes here the slope keeps on decreasing and then the slope increases and then it decreases again and so on so I want to know if there is an inflection point I will ask when is g' equal to 0 this will happen if a is equal to ½ of 1 by x1 plus 1 by x2 but a is not composition dependence dependent this will happen if the maximum value on the right hand side you can verify that the maximum value occurs at x1 equal to ½ because if you take 1 by x1 plus 1 by x2 then f' is – 1 by x1 square plus 1 by x2 square this is equal to 0 if x1 equal to x2 and since is equal to ½ so at x1 equal to x2 equal to ½ this is a minimum I will say actually this is minimum because when x1 equal to 0 it obviously goes to infinity so what you are discovering is not a maximum you are discovering a minimum here for this function so the minimum value of a is 1 by 2 into 1 into 4 in other words as long as a is greater than 2 that is if a is greater than 2 greater than equal to 2 g' is equal to 0 in the range for x1 equal to 0 to 1 you g' will be 0 at least at 1 point at a is equal to 2 it will be 0 at exactly x1 equal to x2 equal to ½ that means if the energy of the interaction is such that this constant a is greater than or equal to 2 in this model you will get you will predict immiscibility again for immiscible mixtures for example the porters model may not actually describe the system at all very well you have to try out different models in order to see which one is satisfied because there is no unique model but there is some interesting features of the mathematical models that you have one of the interesting models is the Wilson model which describes alcohol water systems hydrocarbon systems extremely well I can now show that the Wilson model cannot predict immiscibility that is there is no value of the constants in the Wilson model that will give you immiscibility. So you can look at a model and ask if it is applicable or not if it is not applicable then you do not use it for such a system that is all if you have Wilson's model you hit it on the head any number of times in the computer you will never get parameter values that will predict immiscibility so if the mixture is actually immiscible then you can eliminate some models is being impractical for example the most successful model for immiscible mixtures not involving electrolytes is the NRTL model okay I will take an example I will take the Wilson and the NRTL models and show you Wilson does not predict immiscibility the procedure is the same all you do is take write down the expression for G which will involve this term always this will change this is G excess by RT this is model dependent term so you will always get this straight line you will always get the ideal curve this depending on the values of the parameters in the value of G excess by RT as a function of composition you will get different curves if the free energy net free energy always lies below the ideal mixing line or below the before mixing line you will have complete solubility any time it crosses the line of G before mixing you will have immiscibility so we will take a look at G excess models I will take two examples one Wilson because it was one of the first models that was proposed and was very successful for many mixtures when people discovered that it does not predict immiscibility at all it has this logarithmic form I will just write them down G excess model this is G excess by RT incidentally his notation for capital G and my notation small g are the same it small g is a specific property for him capital G itself is a specific property he uses n times that value for me number of moles this is Wilson and then NRTL it is also got another 2 x1 x2 x2 where 2 1 2 is a constant at constant temperature this is constant all these parameters are constant at constant temperature he uses capital G here it is part of the trick in the derivation I will explain to you what happens but I have used lambda that is all this is a molecular parameter which is of this form which so this is also another constant but because of the alpha here this is different from the other one so effectively this is a two parameter equation 2 1 2 and 2 2 1 3 alpha is a third parameter so alpha 2 1 2 and 2 2 1 there are 3 parameters in this equation there are 2 parameters in this one interest is that if you go to the limit as x1 goes to 0 for both of these I will write the limit as x1 goes to 0 is x1 goes to 0 this term will go to 0 this term this will go to 1 so you get G excess by RT is equal to x2 will go to 1 x1 goes to 0 so you will get log 1 you are getting the limit I am sorry I should look at I do not want to look at this you have to look at gamma I will come back to it sorry I wanted to discuss the limiting activity coefficients gamma 1 and gamma 2 I will do that later because I have to again copy the expressions for gamma 1 gamma 2 but let us just get back to what we are discussing now this is the G excess by RT model so all I need is G excess prime and G excess double prime I will do that I will essentially show you that with G excess double prime here I will never get G after mixing less than G before mixing I mean greater than G before mixing therefore this Wilson always predicts complete solubility so we will take Wilson's something you have to remember essentially you have to examine if the model is good enough for the situation if you know that there is a range of immiscibility then there is no point using Wilson's equations for such systems on this diagram that I have given there actually this is for I forget which system I think it is isopropyl alcohol benzene or something there is immiscibility data available and this is simply a calculation it was actually one of the quiz paper some time ago the curve is peculiar because that is the way excel plots the curve that is all it is actually a smooth curve you can see the three that straight line is x 1 mu 1 plus x 2 mu 2 by RT mu 1 by RT I have taken as 0.3 mu 2 by RT as 0.2 but those constant values make no difference the calculation because by the time you do G double prime those constants will be mu 1 pure mu 2 pure do not appear so G double prime depends only on the ideal mixing which will give you 1 by x 1 plus 1 by x 2 and then you have G excess model so if you look at G double you would look at the equation for G which is the one on top you essentially the excess free energy and its derivatives those are what are plotted there G double prime is plotted on top this n is a mistake I say that is actually x 1 that is the way I calculated x 1 was 0.05 plus n minus 1 into 0.1 it just give it steps you should have removed n and plotted x 1 x 2 etc. But this is illustrative all you need to do is the same calculation for different values of the parameters in this case I have taken a is equal to 2.5 if I had taken less than 2 you would not have got immiscibility because the energy is not sufficient to compensate for the entropic change it occurs when you mix it is if the 1 2 interactions are lower all interactions molecular interactions interaction energies are negative that is the way they are all formulated so if the 1 1 interaction and the 2 2 interaction are larger than the 1 2 interaction negative terms then you will they would prefer to stay in their neighbourhoods rather than in the 1 2 mix that is when you have this problem this a is actually dependent on 1 2 1 1 and 2 2 it is actually the difference between effectively the difference between 1 2 2 times 1 2 and 1 1 and 2 2 actually we will derive a small theory called the flora against theory in which that term will be very very important.