Good morning folks Steve Rhodes coming to you live from the shores of sunny and very pleasant Delray Beach for this year 11 a.m. update and currently got all the U. S. Indices that we track trading to the upside dows up to 94 S&P 35 Nasdaq one hundred one thirty nine Russell's up twenty two semi thirty seven trend is up seventy one. Smallest percentage of the trend is up half percent largest percentage one to three tenth percent that's for the Russell. You've got gold trading down thirteen bucks. Silver's off sixteen pennies like to recruit off about fifty five natural gas is up two cents in a three year treasury pretty out of one on nine sixteen that's off a half a point. Let's go figure out what all that means by looking at that nine panel. Market update chart we begin by taking a look at the E. S. many upper left hand side so we know that it's by the D. point pattern was tested and rejected yesterday it held and now you've got a new profile that is forming out here. This new profile will not be confirmed until this evening but that profile is above price that's a bearish message as it tells us there is overhead supply. Nonetheless off from a profile standpoint on this rally on this bounce the first target would be forty eight three eighteen. That's the bottom of that new profile spot ball to this is trading below yesterday's low so perhaps is telling us wants to go target that fifty day expense will be never did seventeen eight if in fact that's what is in fact if that is what its mission is we should see higher equity markets the case the N. Q. it still retains its TD nine cow bottom now it has a new profile it shifted a couple of times I expect these will continue to shift during the day but at present time you've got support of fourteen six eighty four and resistance at fourteen nine forty U. S. dollar index close blow the bottom of its daily profile yesterday triggering a change in trend signal however as you know we need to consecutive closes below support to confirm that we don't have that as we speak right now prices back inside its daily profile may be targeting the top of that profile at one oh six forty two we take a look at gold which has a TD nine count top it won't enjoy a higher U. S. dollar but it's behaving rather well it too is forming a new profile attempting to it is a bearish structured profile and that says if we see a close blow nineteen eighty three seventy and in fact this profile takes hold at days in we should see a rundown in nineteen ninety nineteen nineteen eighty the case is silver doesn't have a top but it is trading with inside a new profile it's also trying to form it has resistance at twenty three thirty and support down at twenty six fifty three like to recruit is pulling back into its support structured by zone that by zone is between eighty one forty three eighty three eighty eight new profile in natural gas as well support down there three twenty five resistance three thirty eight folks they do for the trader's edge open if you're off to start your Tuesday please have a terrific one thanks for joining us we'll look forward to speaking with you again soon take care now


Good afternoon. I'm Ryan McMakin, and I'll be speaking on intervention. They brought me in as the political scientist. Much of my graduate work was in political science, so in intervention, we'll be looking at really the relationship between the state and you, the state and market forces, how individuals act on the state and how the state works on individuals. It's different than what we've been talking about so far. We're leaving behind some of these topics where we're talking strictly about market transactions. That is where it's just two people peacefully interacting, deciding to trade things with each other, and moving into a realm where the state is interfering in those transactions and essentially coercing the people involved in those market transactions. So Franz Oppenheimer's book on the state had really identified two different types of action. We have violent action, coercive action, and then we have voluntary action. That is action in the marketplace. We have to really take a good look and try to understand then what are the different types of state actions, what are the effects that these state actions have on the marketplace, and what are the long-term and short-term effects that we can expect from them. So there are two resources we'll be using in this. In your syllabus, it is listed Mises' work, Middle of the Road Policy Leads to Socialism, but also of very useful in this is the final section of Man Economy and State, which I would recommend you use as well. And that's the last 150 pages or so of that book. It's a section titled Violent Intervention in the State. And it's not Power and Market, which is often on the end of Man Economy and State in some of the newer editions. It's the end of Man Economy and State proper. So you might find then that final section would be very helpful where Rothbard really creates a typology of intervention and then also has a lot of useful little sections on intervention and what it means and what effects it has. So let's have a look at intervention then. We live in a world where the prevailing ideology is one of intervention. That is, we have rejected for the most part this idea of total market socialism, but we've also rejected the idea of a totally laissez-faire market. And part of that just comes out of historical development. And when Mises refers to interventionism, he's often referring to that specifically, this idea of a third way between communism and total free markets. And so historically, of course, there was laissez-faire, there was liberalism, there was this idea of totally free markets, which of course was never really implemented, but was nevertheless popular among many. And then surely there afterward Marxism came in and began to claim that what was really necessary was total control of the marketplace. And what happened though over time is that people really started to figure out that total control of the market wasn't really quite working out as they might have hoped. And even worse for the Marxist was the fact that Marxist predictions weren't coming true. So what we found is that in the 19th century, people were looking around, even people who were sympathetic to Marx were finding that the workers weren't getting worse off as Marxism predicted they would, that they were in fact having a rising standard of living throughout the 19th century, that these people who were working in factories weren't becoming poorer. Their lives are actually getting better compared to the drudgery that they might have experienced in the late Middle Ages and so on working in an agricultural world. They were having larger families, they could live in larger living spaces, they had access to more leisure time and so on. And so the socialists realized, well, we have to revise this theory, so we'll come up with this idea that, okay, we don't want total market control, we just want partial market control and that's what Mises often refers to as interventionism. There's this idea that there's this sweet spot somewhere between totally free markets and totally controlled markets.  So if we imagine then an axis in our minds, we're at one end, we have totally free markets and at the other end, we have completely controlled economies as total state communism, that the idea of the interventionist is that somewhere here in the middle, you can figure out just what that right amount of intervention is and that'll be a properly managed economy. That'll be what Mises calls the hampered economy as opposed to the unhampered marketplace. And in reality, though, both Mises and Rothbard would tell us that if this ends the totally free market, the farther you get from that, the less able you are to become wealthier and happier and to have a more efficient and productive economy. So this American idea, of course, we want moderate stuff, we don't want to be on these extremes, right? But there is no golden mean in terms of making a choice about what is the most useful type of marketplace between communism and a totally free market. We don't want something in the middle, we want something over on the laissez-faire end because that is what will help us accomplish our goals. The goal, of course, being a higher standard of living, a happier life, a longer life and just generally things being better, given the circumstances. That we are put in. And so when you read Mises, be aware that he's referring to a specific idea that he calls interventionism and it's that idea of the third way, which is still very popular today, we hear about it all the time. And of course, in the realm of public policy, people are always arguing for a new public policy, a new tax, a new regulation. They're not going to argue for total state control of the economy, they just want this little regulation to set something right that wasn't going well in the economy. And if we can just get this one more little tax, if we can just get this one more little regulation, then people will be much happier. In truth, however, for every additional regulation you get, for every additional tax you get, your economy becomes less efficient, it enters into a state of greater disarray, it becomes more chaotic and then you either have to repeal those interventions or continue enacting more and more regulations which eventually leads you all the way down to a state of totally controlled economy. And so how do we avoid that then? Well, of course, part of the purpose of the Miesen Institute is to explain why those interventions in the marketplace are bad. And so spoiler alert, we think intervention is bad and we're going to explain why in a little bit more detail while providing a few examples of different types of intervention and how we can distinguish among the different groups. And so in man economy of state, Mies's really pulls out three different types of intervention. And the three are autistic intervention. This is where the state acts upon a person directly, compelling that person to act in a certain way but only on that one person. So an example of this would be a prohibition on you from committing murder. So the state says, you cannot murder anyone. You cannot steal from people. And these are the sorts of things that we might consider to be moderately legitimate in terms of what the state is doing. These are the hardest things. This is where the real people get really hung up when you talk about stateless societies and so on, as we want the state for these autistic prohibitions, the prevention of thievery and so on. But of course, this can include other things as well such as prohibitions on ingesting certain foods and doing things that just involve your one person. This is not to be confused, by the way, with purchasing certain foods from another party. That's a different type of intervention. So there's autistic intervention, which is just you and the state, and it's just a transaction that's you yourself. The second type is binary intervention. And that is where the state compels a transaction between you and the state. And that would be taxes, for example, where you normally wouldn't have chosen to enter into this relationship with the state, but the state decides that you owe them a certain amount of money every year, a certain percentage of your income every year. And then there are other types of binary intervention as well that don't necessarily involve cash payments. The state can extract resources from you in other ways as well. This could include mandatory jury service, for example, where you have to give up a week or two of your time in order to serve the state in that capacity. And then, of course, in an even more draconian fashion is conscription, that is, if you are drafted into the military or some kind of national service, where every day of your life is essentially, you have to give all of your labor and time to the state in those cases. So your wealth doesn't have to be extracted in terms of dollar amounts. They can just simply take your freedom away and force you to do work for them as well. But those are all binary interventions. It's just you and the state. And then there are triangular interventions. Those are the sorts of things we probably encounter on a daily basis outside of taxes that is the state prohibiting you from buying or selling things to other people, such as, say, what are deemed to be illegal drugs by the state, but also far more subtle things in many cases. You're not allowed to, say, hire a person at a certain wage rate in the case of the minimum wage, or you're not allowed to sell a house that has been constructed in a certain way. Perhaps there's a partial prohibition on something. There's full prohibition, where I'm not allowed to sell you, say, marijuana of any kind in some states. But there might be a partial prohibition, such as rationing, where you're only allowed to buy so much of a good or service before it becomes illegal. Or licensing is another type of partial prohibition as well. So you could cut my hair. Well, not my hair, but like hair on somebody. But only, you can only cut hair in that case if you have a license. And so only certain people are allowed to cut hair. And the overall effect of this over time is, of course, to greatly limit people's choices in the marketplace. And it has the cumulative effect of making us all poor. Because we're out there trying to live our daily lives, making a variety of decisions that maximize our utility. But everywhere we turn, we're not allowed to actually enact what we would prefer to do. And so, as explained earlier by Bob and by Lucas in the earlier talks, let's use Bob's example first. I want to, I have an apple. I purchased an apple somewhere. And that was legal. But I decided I didn't feel like eating this apple. I wanted to give the apple to a squirrel. And, but the state says, no, you can't feed the animals. That's, we need all the food we can get. So apples are only for human ingestion, plus apples are bad for squirrels, they might decide. And so now, whereas, as explained earlier, what maximized my utility in that case, or what my first preferred usage of the apple was, has now been deemed illegal. So I can't do that. I have to go down and use that apple in such a way that I prefer less. And so now I'm less happy than I would have been otherwise. The other case, of course, being Lucas's case with the chocolates and giving the chocolate to his wife, his most preferred usage of the chocolates is to give it to his wife. But the state has intervened and said, well, men giving chocolate to women really perpetuates the patriarchy and so on. And so we don't really want you doing that. And so no more shall you be allowed for men to give chocolates to women. And so this, of course, then would have an effect on the overall demand of chocolate. Now you might say, oh, well, big deal, right? We can't give chocolates to people or I can't give an apple to a squirrel. But an important aspect of this is that it permeates outward from this initial prohibition or from this initial regulation. So it's not just me who is being affected by being unable to give chocolates to people. It's everyone who marketed that chocolate, who packaged that chocolate, who sold that chocolate. They're all now taking a hit as well and becoming less happy all the way outward to the guy in West Africa who grows cocoa beans. And so he could be severely impacted then, perhaps lose his entire livelihood then if the demand for chocolate falls enough. So while these are seemingly very micro types of examples that don't affect a lot of people in actuality, every time you intervene to stop what is seemingly a very nothing type of transaction, it can end up having very significant effects as we move outward into the larger economy. So we'll start to use a few examples then here to get a better sense of what are these different interventions and who do they affect? How much can they in fact be damaging to the economy? And then also that larger point that Mises made, one of Mises' great contributions to this is the fact that when we intervene, because we're preventing people from doing those things that they prefer the most, and they're the only ones who know what they can prefer, another estate agent cannot know ahead of time whether I want to give that apple to a squirrel or eat the apple, they can't know ahead of time what I want to do with that chocolate, they can't know ahead of time if someone's even going to like chocolate, maybe my wife hates chocolate and I really was buying the chocolate for something else. These are all things that the state cannot know and the state cannot calculate on its own. Each of those decisions really has to be made by the acting person who is carrying out that decision, who is demonstrating their preference with each action. Without those actions for us to know and to set prices in the marketplace through these private sector actions, we cannot simply manage the economy, it's just it becomes impossible as Mises' great contribution to this. And then so once we notice that, we can also extrapolate from that and understand that without this ability to calculate and to know what it is that is of most valuable to people, we can't actually accomplish the goals that we wish to achieve by enacting these interventions in the first place. So if our goal, of course, is to make this certain group of people more well-off or that certain group of people wealthier or happier, what we will find is that we will enact these interventions but eventually we find that we affect the economy in ways that we could not predict and actually ends up making the economy overall more dysfunctional and people less well-off. And so what happens as people enact these interventions and they realize that they're not accomplishing the goal we want them to accomplish, we then come back to them again and again saying, well, we need to revise this, we didn't do enough of that, we didn't regulate the sector enough, we didn't spend enough tax money on this project and we're left now with more poverty or more unhappy people. So the next step will just simply be another round of intervention and that's, of course, the central point then of Mises' work on why middle-of-the-road policy leads to socialism is because once you start down that road, then you just keep enacting more and more interventions. Now, of course, that doesn't mean that once you have a few interventions, you're automatically going to end up with total state communism very soon. There are, of course, ways that people can push back against that. You can always start to repeal those rules. People will often only tolerate tax rates at such and such a rate. People will only tolerate so many regulations. Mises himself says in liberalism that the state can only get away with as much as the people will let it get away with, a short of revolt and true opposition, whether democratic or outside a democratic system. And so we're not saying that every intervention is necessarily going to lead to communism, but what we are saying is that every intervention will make us a little bit less well-off and at the same time will lead many people to conclude that the intervention simply wasn't going far enough and the next thing we know, we have more and more until we find ourselves quite a bit worse off and noticeably more impoverished than we were originally. So let's use some examples then to get a sense of what are some real-world ways that this plays out. Now, before this job, I was an economist in the housing industry, so I'm going to use some of these housing sector examples just because I'm more familiar with them. But of course you can use them in a variety of sectors, especially healthcare, for example, employment and so on. Now, there are Mises or Rothbard identifies under triangular type intervention and that's where the state is regulating your interactions between two non-state actors, so you and another person not from the state. Price controls are a major subsection of that. And so what's an example of price controls? Well, there are maximum price controls and there are minimum price controls. Minimum wage is always a great place to start when we're talking about price controls. It's a price floor and we've of course covered this in numerous articles at MisesDaily on Mises.org. Should you ever wish to look? And people, of course, might come together and an employer wants to hire a person at a certain wage. And of course, even if that person wishes to work for you for $3 an hour in this country, you would not be permitted to hire that person because of the minimum wage laws. They set a certain wage. Now, of course, as a person, as an employer, you're not, you simply cannot afford to hire someone who's significantly below the minimum wage if that's all the productivity that they can provide. So I'm someone with no work experience. I'm not very good at working and I've never held a job before, so I'm only going to produce about $3 worth of productive output per hour. But since my employer is required by law to hire me at $14 an hour, whatever the minimum age is now, soon to be $15 an hour, sure, in many jurisdictions, then I'm simply not going to hire that person. So we see immediately what the outcome of that price control is. Is that we have fewer people getting hired due to a price floor being set. But we can also see this in other places as well where a price floor is being set. We can see this in housing, for example, in many jurisdictions, you cannot build a house unless it has certain minimum square footage.  And so that sets, of course, effectively a price floor for that structure because it has to be of a certain size, which means it has to be of a certain cost in many cases. Similarly, we might think of laws where buildings are required in some jurisdictions to have a certain amount of its exterior be in the form of brick or masonry because that looks nicer, it makes it seem like it's a classier neighborhood and so on, may even have some advantages of longevity. But of course, it's very expensive to put bricks on the exterior of a house and so that essentially ends up setting an effective price floor for those houses as well. And so then what the consumer is faced with is a housing stock that has higher prices and they're then unable to purchase those homes. And so what we have done effectively is price many people out of the market via this housing price floor while seemingly it was all justified on the grounds that we're going to make our community look better and this is going to keep, of course, for you existing homeowners, this is going to keep prices higher. So forget about anybody who doesn't own a home yet. We're going to set the home prices higher so that all of you voters here in this town who already own homes will like me more as the city councilman and will just proceed from there. Now, of course, then what happens once we do that, once we raise the price of homes? Well, the next thing we hear now is that there's not enough affordable housing and so then we need to, of course, create subsidized housing or we need some kind of tax breaks or some other government intervention to help more people afford homes. Another case, of course, in how this affects the price of housing is let's go now to a case of binary intervention, taxation. We all know that renters effectively are taxed more than homeowners through the home loan interest tax deduction that many homeowners get. Now, notice, I don't phrase this as a subsidy of any type to the homeowners. The homeowners aren't receiving a subsidy. That's not the intervention in this case. The fact that some homeowners pay less in taxes is not an intervention. What is the intervention is the fact that renters are paying more in taxes in this case. And what is the effect of this then? Well, it drives then renters to want to be homeowners more because it's more economical for them. They're going to pay less in taxes in order to own a home rather than rent. So the overall effect of this then is to push more consumers in home ownership rather than renting. This drives up the price of home ownership and drives down the price of rentals so that the people who are landlords who own apartment buildings actually make less money. It punishes them. And meanwhile, people who are selling homes or people who are developing homes make more money. Well, at the same time, yet again, raising the price of some types of housing. And the next thing we know we're hearing that we need some sort of program to provide down payments to people and we need to help people get into a first-time home buyer situation and so on. So every little intervention begets another intervention and it never actually seems to make housing more affordable. It never actually seems to give people what they want because, as Mises noted, you cannot predict the ways that those will actually affect individual persons and we have to then fix each intervention with a new one. Some other examples, of course, with taxation are the ways in which taxation affects us both coming and going. So with taxes, they get us both with the extraction of the tax as well as the spending of the tax. This was something that Rod Bard was very concerned with, is the fact that many people who discuss free markets and so on, they focus only on the taxing side of things. Well, they extract money from us and that's bad. Well, certainly that is true. But the economy also can be greatly distorted by the way that the government pays out those tax funds. And again, with the housing example, and we could use Timothy's example about the bailouts, right? Bankruptcies serve a very important entrepreneurial function. But the bailouts functioned to prevent these certain firms from being bailed out or from going into bankruptcy. And so what happened there? Well, okay, so I'm a taxpayer and I get taxes extracted from me, whether in the form of an inflating currency or in terms of the income tax or any other federal taxes that I might pay. So I'm poorer because of that on the front end.  And so rather than letting those firms go into bankruptcy, which would have led to a lot of the homes in their portfolios, and of course I'm simplifying, but we allow the bank to go bankrupt, the homes that they own then are auctioned off and then people are able to buy those homes at lower prices. So had those firms been allowed to go bankrupt, there would have been a lot of homes entering the market, the price of housing would have gone down, we would have also been rid of ourselves of firms like Wells Fargo and JP Morgan Chase, which would have disappeared and been replaced by more efficient firms. And so it's a win-win in that case because the tax money wasn't used to support inefficient firms, it didn't drive up the price of homes artificially by preventing them from being auctioned off in the market at lower prices. And also we now have more efficient firms in the marketplace and that could have been made better, of course if we hadn't been taxed in the first place, but we can see how once that tax money is acquired by the state, it then progresses to ever increasing levels of distortion in the market, where once again now we're left with more expensive housing and yet again we've got to do something about that, we've got to keep interest rates low, we have to intervene in the market in a variety of ways just so that we can get more people in housing. Where if we had just left the economy alone in that case, we would have found ourselves with a wide array of affordable housing in the marketplace that wouldn't have existed before. And so these are just a few examples of the types of ways that states can intervene and how it leads to a cry and a political call for more and more intervention. But if we start to look at what might have happened, had we not intervened in the first place, we find that a lot of these problems wouldn't have been created at all. And in a certain way, we're lucky that we have the interventionist point of view. I mean, the alternative was total state communism. So we gained a little victory by getting people to admit that private ownership has its advantages. But we certainly have a long way to go, however, in terms of really illustrating that even these little interventions can lead up to big, big problems for people in terms of being able to have a living wage, which of course we're told the markets that the government should set, but really that can be achieved much more easily by allowing goods in the marketplace to fall in price and which would reflect much more the desires of people in free exchange situations than what we get now. And so I do recommend then for more on this, the final section of Man Economy and State by Rothbard, in which he will really provide a lot of helpful information understanding the different kinds of interventions and then a bit-by-bit brief examination of each type, like we've done a little bit here, but there's quite a bit more that I think you'll find useful there. So thank you very much.


good morning everybody good evening good afternoon wherever you are hopefully you guys are doing great let's get started how's everyone's extended weekend i don't know what u.s holiday was i think it was labor day uh it doesn't matter americans were off so we are off uh i mean u.s markets were off so yeah uh back today uh and the rest of the week let's get started uh let's go over friday's trades and and how we sort of play and start playing out it was the first of september i love you dude oh and you have the fifth yeah you you bought a dog bad dog that's nice you gout okay well well we load up the bookmark data for it we can go over just start charts and what we sort of thought for that or i can't even speak quickly okay so uh us uh session came in we sort of came in with two scenarios is first if we targeted the stop-on range where we had all these uh all the pending sort of sell orders all the stops from uh this area and this area here uh we could have hit that first and then drop down uh prior right after but instead we dropped down and then we swiped one two and pulled up you could have entered in on the third test here which is the second test here mega dump it's a pump and dump it's a it's a it's a pansy scheme what else uh and the reason being you would want to enter in third is maybe you don't trust the third swipe or you don't you entered into here and you're like okay you know uh i don't really know where to put my stuff into this area so this one gives you sort of a nice sort of uh a level of the standing of pushing down and saying you know it's coming back into this cluster here we're seeing sell bids see that here comes in supports itself and pulls up i think we talked about the choosy train on friday and there we go we often need to change instantly the average monthly range loss it's at 10k this week jesus here we see off of that bullet and that low we ain't going to 10k jesus a doubt a doubt we are i don't know i still don't know why i have this trend line on there we gotta remove that uh as we head out into this area we slowly made our way back into uh the area above as you can see here right inside here so we will truly have already here so there we go came in swiped its range giving you a nice sort of stop on one and two and then pulling down and there you go off taking the liquidity here it just pushes down bind itself and catch itself here and you would maybe have been tempted to sort of buy this and i said you know what potentially you do you do not want to buy this area because a lot of people would be buying this area and that's the reason actually that's why the trend line was sort of just sort of show that okay in this area retail will possibly be buying so there will be a there'll be a possibility to say even if we did get the short term rise for it to back under and get take retail out because they'll be along here was maybe stops here and and that's something that you want to wait for maybe play it play out but again it's up to you if you want to take this you could have maybe taken this and been out in the short term but generally speaking along the term wise you did not want to enter this into a position as you can see came in one two three swipes to the bottom and then pulls back we test it pulls back again let's see if that's it is loaded like just about no still needs to load a lot more okay hey hey nope he's yeah it's important now it's a lot of information because we are going back a long time usually have this preloaded by to constantly restart book map for a purpose of doing a video so is that so coming into where we see it now so you see Monday how we came in the other sessions come in nice print full back away nice little stop on from this consolidation from Asia i'm in London rather jeez how do you want to get my cut us uh pulls back up hits out takes the stop on and you can just see how they're just taking out ranges and and this is how you sort of want to play the ranges and in once we get the data loaded in we'll talk about how the orders end up playing out and move from there but currently sort of and then what we're looking at right now in in the sort of the charts is in Asia so as soon as Asia opened we started just exploding and i think the best way sort of look at this isn't actually it's a very nice actually area to look at as well generally speaking because we did get something uh known as a book flap so it's something that you want to mark for like future sort of uh and this is a case where you want to say okay you know what this is a sort of perfect case scenario i know what to do if this happens next time around and and what this is what a book flip is it's generally you see this bit here this this red bit here they it hits into it a bit they said you know what pump take it away this exhaust down and you see the order appear on the other side so this appears on the other side this hits into it then from this point you could have said price was looking to extend high and it did that until it took out liquidity here as you can see my large sort of pop of liquidity into then buyers being exhausted looks like Asia was super happy about this box like oh my god oh my god let's buy let's buy and until they weren't so came into here as you can see no no buyers at this point so this is exhaustion again if you if you want to mark this you can mark this if you uh have it keep it on in a fold and say okay this is a sort of perfect case scenario on what a book flip is and then you can sort of reference that in the future saying okay is if you see something happen is that something that you uh that looks like this then you can just say come in come in and say yeah it does and then you can trade it similar to uh how you would trade this and you you should have plenty of examples of exhaustion as you can see comes in exhaust comes out and then still from all the way throughout here just exhaust and exhaustion just saying you know what people are just tired of buying and then they just don't want to buy anymore there are no buyers in the market anymore past this point and then they said you know what we win and fished enough let's just go and decline this surprise came continued came come down come down and you see these bids enter into here this one fell short stopped out this one again comes back in just sells into it and starts accumulating shorts and we sort of want to look at it this as you can see this entire region here becomes short and the majority of it is short biased so we look at that and so mark the other out from 1900 it's an area where we have a cluster of shorts we sort of look to cluster of shorts as potential support as because if we go to it we start releasing these people who are short they haven't already been stopped out here or here or wherever they may have placed the stops and then one placement would have been at this point here so if we move that along on this point as you can see that would be this cluster and this would most likely be liquidations and it's possible point where they could have stops here so those are your points we say okay if someone were to go short here they would have either placed their stop there or there depending on what time frame they're looking at and they we still might have some sort of short inventory to uh to target upwards but if we look at this we see a massive shelf and then the shelf is just again it just looks like a shelf and then this self-explanatory in the sense that we got we got a large amount of uh volume buys here and here so again like how we look to this sort of cluster of short we can look to this cluster of longs and say you know what any sort of uh willingness to sort of project from this area can show weakness to come back into these lower bits here looking at the spot order book we can try and and sort of differentiate the two and sort of look out where sort of let's say a longer term buyer maybe or where people may be accumulating again need to load out this data and something I don't like it's just one of my latest my data is not loaded lack of preparation from my side if you have any questions do leave them enjoy this infusion hasn't spicy but uh we we we can't yeah god damn spicy okay uh so this was the stop hunt range from the fifth as you can see here we have this sort of perfect time where we come in first one comes in still some buyers get some people coming in earlier short and this is when you know okay price may look to reverse off of this just because uh this is a lot of sort of uh against the uh against the actual trend and and against where we actually really want to go people are starting to get into the right position so they're like okay you know what they'll place have probably have a short stop because they won't really have a placement that they want to do otherwise that we might be high leverage traders then as you can see comes in boom takes out the high stop hunt and pulls back down as you can see this and they and they do it very fast as you can see this is essentially minutes to uh two seconds uh minutes two seconds before pulling down and creating sort of this area here if we look at the chart i station for that this was i'm on est i need to be on london one o'clock it is yeah one o'clock one a.m okay i don't even know my a.m's from p.m that this rate there you go that's the section here as you can see one way to it comes back in gives you a nice level and then just pulls away keeps this short here so if we go into this section now as you can see and then just zoom into the section and look at the sort of uh current visible range for this profile a lot of sort of spotty behavior was uh it was no clear sort of clusters just large sort of uh buys are popping here and there at the end of the day it sort of looks towards it and says you know what there you go there's your large comes below that in this test here and this is why i like i like using this sort of uh metric and this first one comes below this one as you can see not really looking to release its buyers not really looking to release it but the buyers here and gives you them a small chance to enter short as you can see this little large sort pulls it back up in order to drive price out to get more lungs in the market and this again is just consolidation to correct and the desire to not release these uh lungs is sort of what you want to look at and say you know what why are they not releasing them because they want to go down further because if they go down further they can take their stops and you can see their stops being taken here as you can see you can see the stops be taken here there's ample amount of liquidations if i were to sort of uh hazard a guess and also the fifth you can see this comes in hits the wall and there's a sort of stop one accumulates at the wall this would be what you look at for absorption and then you should be uh you would define as absorption this you can see price sort of selling into sort of a large sort of cluster there's no movement before correcting against that trend really high volume and the reason sort of you want to you want to see this sort of uh pull up as you can see this entire sort of area ends up being really heavy on the short side if we remove this as you can see a lot of people when ended up getting short so they decided to correct against that and the easiest way to do that is as soon as market open let people sort of climb out to buy uh what they want to buy and then sort of move out and just uh have a really bad time morning yeah the question from last uh let's see if i can find it here's a way to identify big bits or ask in book map yeah uh it's usually using the rhythmic compatible indicator which is the mbo but in terms of doing it for crypto it's more of exercise of mental math and and experience and that's how you do it and all nice burgers is just a hidden bed and or what you'll show out and and what the discrepancy is usually left is uh is large uh buy dots with a little movement and you can use that you can use the cumulative volume delta as well as you can see a very large spike on this area here in a very short period of time but the movement is relatively small you can say this sort of green uh green volume dot ended up being absorbed and in the in essence you can see uh not the same amount of beds entered in so you can say someone had a relatively moderate iceberg at this level to catch uh catch traders out so that's how you sort of do the mental math yeah sure i'll go over eath to east and this is more uh let's see if i have one so yeah this is very sort of uh in in your face sort of uh sort of text size it's very small text size relatively speaking as you can see it's all moving moving very haywire and all 1700s of big sort of uh hurdle for eath uh this sort of a really nice sort of round number but the price that looks like someone's entered the bid as you can see when price moved away from this area here they decided to come in with a sort of a large sort of cluster here i think they sort of look at this and then just say if we sort of go over and look at the what's happened just in this region here it's a lot of shorts there's a lot of buyers on this level here and these buyers are sort of uh a little core defendant with this area here and i think i want to remove this top because this would have been liquidations on this part here so if you can see this is an entire sort of short area here don't think this bit ends up holding but if it doesn't and you see a lot of buyers coming into this to uh to offset this sort of heavy sort of short area and that's the thing you're looking at this heavy sort of off sale shorts and you're saying okay if they if they don't counterbalance that here there's there is no uh proactive or or need rather to go lower and uh and then they can uh will push it up until they can counteract this or maybe this ends up flipping itself on its head and and treating it as support for this area here and then this sort of level of shorts and you can see uh that people have been buying up higher and then that's the reason why you see it's very small but massively speaking it's a very negative sort of book you're looking at and it's a very sort of negative sort of outlook coming into it so unless they can remedy that in terms of creating sort of a nice sort of uh heavy uh full set of longs here uh yeah I don't really look for uh to say that's an area you want to show uh looking at this but if they end up remedying that you might want to show it but generally speaking it's it's not an area you want to show uh right after that and then I think most of the chase will lead it if they pass this area will lead up to 1700 as you can see we have this nice bed waiting for us zoom out and start looking at sort of where everything is so the larger time frame and you can see larger time frame there is a lot of longs trapped here everywhere so coming into this now uh so those longs were entered in if you go to that price one entered in here these guys are probably still in majority of them so to be bearish I think you look at this and say okay if it hits into this falls it down you're looking for it to reject and start pulling down from there so below 1670 you're sort of looking at that and then you don't want to be this person here or the cluster of people here or they say they instantly sort of short that area so you always like to look for retest for this area here but so again this is why you want to zoom out and look at some bigger pictures sometimes so it might be something that you want to consider showing if it looks to uh look still looks weak price is sort of coming uh coming below this area because they did similar things here where they came to the area of the wall then peeled away then decided as soon as that got removed so it's sort of uh game end there so if they sort of play with this and allow people to sort of go short and keep sweeping it until they raise this remove this and have higher could be a possibility uh and I think it just comes onto the fact that you want to liquidate these large clusters and these sort of large absorption and again it comes to a thing where we look at do we see sort of relevant bids enter into this or is this sort of mostly icebergs as you can see very very much so there's no sort of uh bids here you can see a very large sort of volume pickup with no bit uh limit bids so you can very well tell and truly this is an iceberg with a tension to absorb all the sort of stops that they got hit here and then they do that uh a lot it's starting to pick up on the cell volume here so i want to see if we can move out and move out higher this person is still remaining on this bid so it might be the same party that's as this sort of character uh has is that did this as people uh well people in algo tend to like doing the same thing over and over again because they really and well and truly only have one play in the arsenal and then they just repeat it until it doesn't work anymore here's the old adage firm if he broke don't fix it let's see this uh drop down you blur there we go introduce some notice but at the same time clears out some of the uh some of these sort of walls that are collated together that we maybe want to define separately but as you can see this is starting to pull out into a very sort of uh higher territory where it's sort of pulling out people are just getting into that short right now i want to see if they were all willing to reverse it back into this wall pushing down or if it's just like a wall to apply pressure as you have a small update for yes uh i need to i need to fix my adapter uh because i mean bookmarks been sort of uh been really weird with me uh recently in terms of uh you know i'm looking for a rhythmic yeah i need to contact customer service with the resume uh to get a rhythmic adapter back up maybe i just i'm just i'm just the person that always constantly breaks down yeah i'll just give you and i'll give you a spy update since i can't look at es uh i want chrome and there we go there are a lot of levels for ethereum funny how that works out again really nice came to the pen to the support level so i like using some orders let's all look at spider see what my spider's doing so our spider's all leveling out to this area here as you can see she all comes in a bit short on the side don't really like how it ended uh don't really like how it ended here so it could definitely well and truly just open into this and just reject off it again you want to you want to see signs that they want to reject if you have bookmark with uh es are up you will be able to see where the orders are unfortunately i do not at this moment but once i get this i'll look at it but i could definitely look to sort of reject i mean looking at the sort of higher time frame as you can see it's like okay maybe there's the argument made is the double bottom you swipe down to the stop and come back in and sort of uh sort of keeping those out theme and uh they might come in and then just say you know what there's your point to trade reject come back into this area here and ideally you you don't want to see it pull out stop out come in allow people to go along off of this barrel pull back in trick people out and then sort of move out into that but i mean really really well and truly this potentially looks like a very sort of glass bottom and then what they mean by that it's very sort of easy to break that unlike the color of ceiling uh but other than that i mean generally speaking if you go into the hour you've you've already got that filled in you've got all these uh voids filled in so it's it's been trading sort of very well just this nice little hat shape to end uh end the week so i want to see if they can create and make a w out of this and if you can see a w you may be seeing it until this section here that's sort of a sort of short throw that we may sort of attribute to it and then we want to see if they choose to do that and then they reject off of that but coming in and i think you want to see if there's sort of any sort of really well news i'm wondering this here i want to see if this comes back in just rejects off of this and if it does it's sort of area and the course to go short and you want cl crude oil do you have crude oil on this cl yeah can you remember last time i marked it yeah marked it a really long time ago in there sort of hell truthful now that looks like the bottom of every every every i think everyone is looking to this as a double bottom so i think you look uh i mean i mean this is not too harmless to sort of look at it look at it that way and then this but i mean you see these wicks are taking out the short side of the quincey sort of they're taking our short short traders and punishing short traders so they definitely could look for that to drop below this area here and just again like i said so it's a glass bottom uh it could definitely look to maybe run that under if they just looking at how they are always targeting the outside liquidity for the short side and then they're taking that very so aggressively and they go so there's a stop on come back in they're maybe moving in for that but if they start sort of tapering off it's like uh you're looking at that and just saying okay maybe there's some cause to reverse about generally speaking uh this normally uh wasn't really sort of treats it as very weak i mean maybe we get the imbalanced imbalance trade here back to this put that into this area there and then reject that going back into our main topic of study which is cryptocurrency let's go back into pick one it's coming in as you can see they're moving back into this sort of cluster i want to see if they can hold this area here and generally i kind of want to see like they've entered this into it when price came in and they've kept this for a while now so this may be the first point of contact you look for and that may translate into uh this doing or rejecting off of uh the 1670 here to then pull back down so that's something that maybe we'll get out of it even push down lower come back into that any questions so as far guys all good i mean theorem has just been quite a lot since there's sort of measure ahead like i can't remember the theorem see where it's kind of is up with my fingers main that merges 15th of september proof of state consensus measure is a major operator called the merge so let's see that is on the next week Thursday interesting oh so definitely something you want to add on that too and i was up there anyway vessel upgrade oh god damn this uh this is coin walk it's just a scenario an aggregate site that gets news big news don't really care for aida too much so and the reason why you may want to look at news is there's always the added verb where you buy the rumor and sell the news everyone everyone everyone in the muscles know there's an ethereum main net coming so and i think that's what the majority of this buying has been to do is just the ethereum sort of uh and we still look at a sort of large time frame sort of trend and we went all the way to at 900 and we went up targeted this area here as you can see then took out the stops pulled back in halfway and then coming back out so again traders could look to trade that uh and start buying that up and and there will be a point where let's say the 1800 mark this sort of collapses and matches up with dates and on the main net we get a nice little sell-off and we want to see if it sells off finds a bottom maybe up until 1200 then just from there just skyrockets so there might be sort of again and this is purely speculative goods predicting this far out is always a hard a hard task but and it's sort of maybe impossible rather than hard just because it's it's just forcing to run more speculation you can meet in channel points as well really ah yeah i forgot about that and weekly emails yeah weekly emails from uh there's a lot of stuff that you can do at a grinder but that's what you that's sort of maybe what you might get out of there we've seen that was uh plenty of new things uh prior they sort of allow people to buy these targeted buys and just say you know what thanks for buying your luck may not be that good anymore so i'll see you guys uh next week uh next week i actually never ends up coming yeah that's the newsletter here on the top left there you go i don't i don't really care too much about reading i'm a little true i'm joking i'm joking this is a lot of jokes can't be how do you find support resistant levels uh they have a book map and all software how do you do it very much okay so with work map it's super easy and and i like using volume profile to trade to find support resistance as well as you can also use a combination of both spot and futures order book so of uh so i'll say okay i see bits here are they long outstanding bids or are they sort of uh bids to look to uh be taken and then uh back under so for instance and then the reason why you want to look to bids because and there's there's two easy look either a bid is is there uh or an ask is there or sort of bid an ask is there to sort of uh hit into sort of stop hunts so you see there there are sort of uh orders where you have stop loss placements and easy to identify if there's a low and there's a bid right after that low as a stop hunts placement to catch stop hunts placement and the magnitude of that and then the reason why people use iceberg is to hide the magnitude of the stop hunts but it's easy to identify what was the sort of volume dots because the issue is volume that will be entered at that point uh within book map but the reason sort of you want to sort of find out the difference between the stop hunts bit because for instance this one would be a stop hunts bid as you can see this has been in a long time ago but it still stays relevant because this is where people don't play stops so as you can see the cascade uh there's a lot of absorption here no rather rather uh yeah a lot of averaging and absorption here uh from the stop hunts uh from the earlier stop hunts then this just ends up being people just running out of steam and then pulling down not willing to buy and then and then they're just like they're buying spot they're buying spot oh my god why haven't they just they just collapse but also within within sort of the volume profile aspect and you saw me mention that earlier about sort of clusters of shorts and clusters of cells whether you have these clusters and you say you can identify okay from uh you can clearly make a differentiation between this uh this above this is where we have long and below this area we have sort of this uh nice little uh area of shorts and and these sort of and we can sort of look at that and say okay these guys uh looking at sort of the time they were entered and the uh the movements of the charts as uh and sort of demonstrated here this is a potentially already out of the market so these guys are now mostly uh dead infertory and and it's just falls back to the whole purpose and the notion that again most traders also want to be out of a bad trade when they've hit sort of an area they they attribute to be be max pain um there you go and and this area as you can see this comes into sort of notion and saying there you go there's your large sort of aerial lung where did that come into where we had stops so we can say as soon as we hit this we got a bunch of stops we got a bunch of liquidations and they took some shake out and they knew that there was some sort of stubborn people uh coming in here so they had to swipe up higher and as you see there was that bid and to right at this top here to catch that so you can say this would be aptly resistance and it is still acting as resistance in the area above the uh the nineteen uh nine fifty is is resistance for us now as as this is where we see so this small uh gap but the majority of the new sort of trap lungs entered into it without too much sort of short liquidation so you can say this area here is our resistance area and and it'll be very easy to do that so you can say any sort of buys in more longer accumulations within this range is sort of identifiable as potential downwards momentum or to the low end and then the reason and then the again these volume dots will represent either one of two things is people going long or people getting stopped out so remember this it's just sort of framing uh the narrative uh and that's the main thing with trading is the understanding okay why is it doing this instead of doing that is uh are they trying what are they trying to achieve and the goal they're always trying to achieve is uh is uh it's more money and that's and how they how would they it's just how would they go about achieving that i'm dying out here uh Jesus theta or theta uh i know i want to really have the history of theta but we can sort of look at that uh i would rather look at the sport i haven't heard that name in a long time see if we can get uh the card i don't i don't know the tick size i would have to sort of go with what's uh default while that loads up i'm not interested what was interesting uh there we are so obviously we're futures that i think we should have been better i think more people are using these old coins to trade uh profit rather than accumulate at this point you know uh that's the lowest tick size available to me unfortunate but it is what it is i mean we're already seeing this stop hunt here as you can see this large little stop hunt coming back in just taking out this range here falling back down you want to see if this pulls back down it's here so i think uh they they will trade the uh most people trade they break the trend here so you probably see the short area here people be buying short this sort of going up higher maybe coming back into this level pulling down from there uh to continue to go short if people end up doing that again it's just me having sort of uh some foresight but and in this sort of coming back and sort of uh backing me up here so you see this sort of uh this sort of very sort of present sort of large sort of spike uh 2200 which is uh this level here there you go this is this basically the bottom here just this area so they're looking to protect that and and guard that area so they haven't come to it recently but again they don't need to it's just a point you want to mark out just in case we want to take this stop off of this area here it'll maybe come into sort of this cluster here slight overhang and then pull it down that's some another thing we can look for just ahead of time uh no there there is no possibility of saying where icebergs are they and the whole reason why why icebergs exist and and uh it's a way to hide your orders uh so you can't tell where an iceberg will be until you hit it because it's like uh if you I mean the Titanic didn't know where the iceberg was uh but I mean if you so in there we go we can't really say there there's too much of an iceberg here as you can see the the volume sort of just sort of match out and it's just it's the mismatch and and what you're looking for is the mismatch from the cell volume and then the uh the the bid here uh like it just catching into this rather and just stopped out to rise but that's essentially what you're looking for with this it's just the mismatch in that let's see yeah I'll look at these now too uh let's just finish off with theta stop getting let me stop getting distracted with every little thing maybe actually it's so bad to see this little bicycle coming in I don't really like how to do that uh you can just wear our tracks coming back in nice little outside area here definitely pull that into the support you've seen that hang around for a really long time so I definitely am more sort of leaning leaning towards the sort of uh sort of shorter play here as you can see there's I mean there was that one level pants it's just mostly been stock pants or shorts we could we could sort of maybe have some push up but I think we run out of steam at uh 1.22 just by looking at sort of where the bids are and where they sort of are looking to target because they probably know they can get something here uh going on to seasonality now and let's sort of save some memory and just subscribe from this uh so let's see a spot book out so seasonality is really really nice I mean there's uh there we go let's use this uh let's do not hour of day but monthly see monthly let's see a week of the year actually I think that'll be much better two two three six let's go many 19 is only one uh buy this future three years which has the most sort of data actually I was you know I'm just using to buy would be pretty much the same as using Bitcoin for this take a bargain let's just do this uh and there you go uh this week generally okay week it's the third week uh in September that's really bad uh come makes sense because like setting up for October uh it's a week before the new quarter so there's a lot of rearranging here so that's all the new cooler and looks better so yeah yeah yeah statistically you're right and I think they hold a buck of a trend for 66% and actually I do I want to see the sort of mean spread and and sort of variance between this and this is a very sort of decently tight variance and you can see uh 2.6 in the a lot uh in 2.6 so very even is plus or minus uh relatively speaking that's dropping off here but you can see pretty tight in terms of sort of the mean change yeah I have a look at your seriously but as you can see the mean change very very sort of tight in this region so you can sort of say we don't get these sort of very high volatility but there is sort of uh variance uh say that it's more bullish even if it's uh it's sort of tight it's when we get into the later uh winter months that they start getting very sort of uh I like saying feast and famine it's very sort of either everyone's eating very well or you guys are eating scrap so maybe we look for it to climb up and pull back out but just to say it's it's very far out we just trade the here and now uh order usd oh that's oh wow that was awesome 2001 I'm gonna keep on knowing what bitcoin is doing while I do this and just let your brain and heart just see where it can function weekly man I mean this is just very aggressive on the month it's just a folding knife at this point and the monthly impasse this point and you can see I mean the as your point I can possibly it's already retested that here so that there's maybe no reason to keep this up let me see how they play this it's effects is really nice with how they do and manage their stops it's very sort of very controlled I think so we'll grab that here this lower area the receiver we'll grab this here as well just like these areas as points I don't know but I think there's just what stands out to me in the here and now and sort of you're seeing one two three and maybe this could be the bottom but again who's to say they start reversing the abysmal sort of trajectory that they've been going down yeah as you can see there's more corrections but I mean every sort of pullout has been sort of pulling in lower uh you can remember weekly Jesus sort of very sort of new ground for a very long time I doubt anyone's kept orders in since 2001 just to be break even you'd have to be extremely daft uh to do that in just rejecting pulling back out stop on coming into here just taking out a lot of here and it's just everything's everything's just doing this just like been very sort of bit look at to say the least just have to keep moving to be smaller time frames and that's that's something maybe better uh as you can see here a long way pulling back in comes back out but it's a point for a lower than this point just creates this area here people maybe willing to trade this short so maybe you get that at least at least it to uh to 995 if you're lucky it's going to lower time frames pulling out there's your sort of there's your sort of stop on falls back down comes back into this area and maybe we sort of trade this area maybe there's a there's a long to be had especially considering uh session wise we are coming into sort of the 930 area and in the 930 area you may look for it to swipe down ideally you want to keep 9988 if it can be helped you want to you want it to short throw with it in this if it raids it you sort of give it 2050 but uh pay up to see if it comes back in and you can see i'm i mean if it hits it will hit it ideally within this range here pulls it out give you nice little 2550 pips uh sort of stop falls back in because it's been in sort of a sort of a nice little downtrend and i think if you want to play it sort of swing position on this uh you're probably looking towards october uh this is just dividing up the quarters so i just have it on the charts there you go that's where your courses uh water began fall back down so essentially the last one to three quarters have been sort of negative so maybe you looked for the october uh october to uh sort of maybe move out into and change changed out for it these are just margin of error lines and there you go then we have both forward and backwards data put two uh yeah do i not answer that they don't miss stuff oh no oh it's two separate charts i'm like wait i missed something or someone double tight oh i'm going crazy at this rate so i mean maybe you wait for the october sort of uh period in and and again it's whole with statistics these these weeks are not bad it's just when you get here it's like it chugs and then it starts chugging along until probably this level here so maybe we get some traps laying in the in the meanwhile and maybe that's why we sort of took out all these sort of uh short sellers because we don't really want to see them when we raid this area here uh but if we get lucky we can we can maybe see that uh shift here or at the west here but in the in this in the small time frame you could definitely make arguments for a long okay let's let's go back into crypto wrap the day up nicely here so we're trading already and i mean we already stopped on uh london and so there's sort of release on our reason to sort of trade high based on sort of how they've been managing this because they've been just doing very uh excellent sort of managing in terms of uh orders we've come back into our daily imbalance here we've accumulated sort of this short cluster here so they they might be reasoned to say you know what from this point they just start pulling out uh coming into there so definitely could see that as a potential long to target this this high here and on this high maybe look for that to trade short as you can see these sellers are starting to uh so run out a bit of steam but at the same time uh there are still stops being taken at this at this point so maybe you look for it to trade into this area here and best case we fall into sort of this taking out these stops and as you can see as i said bidsome and support and resistance are normally sort of correlated with uh sort of uh the stocks uh stop stops or where the orders are to be picked up just because it's it's it's where uh traders will enter into positions and no no problem and i hope you enjoy that so i haven't watched it myself but i've heard good things maybe i need to give a watch yeah so to wrap things up so let's sort of put things in a nice little feather boa let's actually use the aggregate data i don't have it loaded far back uh sadness that is sadness my friend i don't know how i'll be waiting for that while i wait for that my trading uh we'll talk about this so as you can see they've entered starting into the beds just as soon as we come and the entering point is just below here again it's just casing stops here i want to get these stops i don't want it to pull down uh could see it trade uh long off of this again we open it in in a minute i want to see the reactions in a minute we give it a 30 minute breathing room see if it stops comes in takes the stops and starts pulling higher and takes the higher stops here again as you can see this as soon as we came to it people said you know what i want i'm now treating this as hostile territory where there are there are beds to be entered right to that we always look at these large areas and you can see this is sort of the uh now the uh top half of the consolidation error you can say so we can maybe see by to that beds will start coming into you i'm already seeing some uh level of smaller bids entering uh then we see that pull down so that those are your sort of scenarios you're looking for and and let's say we fall into this it will sort of fall slowly and then sort of hopefully hit to this if it if worst case comes to a pushed south you see this area here a lot sort of area where we have already shorts uh present will hit out a lot of bones here so you'll see a lot of cell coming in based off of these top placements here this will come in and essentially achieve a sort of a higher low within this sort of territory and you can see this is sort of as soon as we uh rose above this price that we had this entered so it's it's sort of a relevant marker you want to keep to yourself and then there we go but we've opened and people started buying up let's see what spots that uh as to the uh buying for also data no i would i would i would i would sort of say yet unless unless you're buying this consolidation range to target this i mean buying this is dangerous buying anything above this is dangerous i would say oh what are they doing oh Jesus uh looking at spot i mean pretty much tells similar story as as futures uh they're like 1700 uh we've got the prior sort of wall which is at the internal stop here but a lot of sort of buying and a lot of sort of exchanging of hands here as you can see these ones have been counteracting the opposite way so we're already sort of uh in profit with these sort of uh lungs in their mind so they're looking to that as saying you know we we want to see uh we want to see people buy up here to drop down or or sell to us we want to see something just selling and it does look like uh at least for now spot is taking a back seat in terms of driving the market it's mainly sort of perpetuals that is perpetuating the market get it i'm so funny uh i'm sorry dad jokes what can i do what can i do man here we go i always like reducing the gold shambler as you can see across uh the top three exchanges in the sort of similar story here mostly buying as you can see this buying shelf here now and that this is sort of territory here and we see uh just below actually there we go there's that drop much more aggressive than i like uh 1700 just taking these stops we want to see if they as you can see starts accumulating very large we're seeing a lot of a lot of this and you want to zoom in on this uh and then it seems like a stretch for now but it's going to drop off there they're slowly absorbing this uh let's see what's what's there in terms of if i zoom out uh 1900 it's sort of last week's external sort of uh last week's uh low and if it's all going to this and we can sort of mark that out accordingly there we go previous week's uh low basically the end of week got open as well uh again same story here they they took out the internal liquidity on the on the short side so maybe look for it to maybe back under but this is just i mean people might end up trading the next day long if they see this because they see this is a well evening style whatever they call it i mean right now it's more likely to say in this area here people on this close will might might end up going short so you might wait for the next uh what's the next four hour candle i think it's just restart reset anyway 1500 that's what it's 14 far away and there's this sort of weakness at this fewer coming back in as you can see they're just already sort of absorbing the pressure still want to see if they're willing to enable to hit this stop here but yeah there there is uh some sort of cause because it is previous week's low so there's a lot of liquidity there but i'd say first look for internal liquidity because they they were if they if they can they will stop at internal liquidity just because it takes them a lot more money to push markets this far down and then that's sort of what people felt understand is just markets take money to push down and you can see this is where the view appears so people ended long got punished so maybe we see one more sort of punishment sort of play uh take maybe take out london's sort of low this time around that's 1700 mark then pull it up or just trade the internal sort of range again i'm not really too fast with uh numbers it's a more sort of uh uh pattern of behavior so i'm looking at i don't know i thought this was behind there we go now it is and so that's how you should look at sort of uh trading in terms of like looking at sort of specific numbers you're looking at a pattern of behaviors that at certain sort of price points there we go coming down nice and reset this is spot i don't this spot again 1700 looks decent but as you can see very sort of weak reaction uh everywhere else uh we can now like some more futures that's driving us there's your sort of stop hunt into that region you can see more sort of shorts being accumulated um expand liquidation indicator broken that is something i want to find out i think it is i know it's not yeah it's just well it should be working as your long liquidations here some short liquidations here as you can see i mean long liquidations in this short Jesus inverse inverse come on uh but yeah looking at this slowly see that coming to that there's your first point of target as you can see as soon as we hit that what did you see a large dot why did you see a large dot because that was a stop hunt maybe we see a stop hunt or sell or back down put it out again not really looking at price numbers you want to look at pattern of behaviors and tendencies from these traders as you can see they just stopped out ought to stop out what are they doing are they they're hanging around there seeing if they can grab more people willing to go short at this low uh if they don't grab what they need for the uh for the inventory uh that will keep as you can see they they have what they need in terms of they saw a large sort of move down and then move away from sort of the zero and now they're sort of moving up potentially okay hopefully you guys uh enjoyed the stream hopefully you guys have found it informational make sure to like and subscribe and all that jazz i'll catch you guys on the next one thank you so much


bias against minorities is a great insult to the men and women who serve in law enforcement. And I want everyone to know who puts on the uniform of law enforcement every day, President Trump and I stand with you. And it is remarkable that when Senator Tim Scott tried to pass a police reform bill, brought together a group of Republicans and Democrats, Senator Harris, you got up and walked out of the room. And then you filibustered Senator Tim Scott's bill on the Senate floor that would have provided new accountability, new resources, but we don't have to choose between supporting law enforcement, improving public safety, and supporting our African American neighbors and all of our minorities. Under President Trump's leadership, we'll always stand with law enforcement and we'll do what we've done for day one and improve the lives of African Americans. Record unemployment, record investments in education, and we'll fight for school choice for all of our minorities. Thank you very much. I'd like to respond. Senator Harris. I will not sit here and be lectured by the Vice President on what it means to enforce the laws of our country.  I'm the only one on this stage who has prosecuted the big banks for taking advantage of America's homeowners. I'm the only one on this stage who prosecuted for profit colleges for taking advantage of our veterans. And the reality of this is that we are talking about an election in 27 days where last week the President of the United States took a debate stage in front of 70 million Americans and refused to condemn white supremacists. Not true. And it wasn't like he didn't have a chance. He didn't do it, and then he doubled down. And then he said, when pressed, stand back, stand by. And this is a part of a pattern of Donald Trump's. He called Mexicans. The Humanist Report is fake news. Mike only cares about crazy Bernie and his wacky socialist ideas. Sad. Very sad. I'm unsubscribing.


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