Good morning traders and welcome to the book map live trading webinar or all markets live order-flow analysis This is Bruce at book map. I'll be your host And we're gonna go through Any market that you guys want to that we can connect to we're gonna go and how to Understand the order flow what's behind the candles? And what's behind the market structure dig into this and get insight for future potential moves here and we can do that with order flow and using book map and we do it every Monday Tuesday and Friday in this webinar and we also have a host of Many other Traders that do this as well if you go to the more button on book map calm and you go to the learning center here Then you can if you're new here Well, you've got how to get connected how to get started using these two courses here We have our markets market mechanics course But this one here join free live events click on that and you'll see the calendar here So we have all sorts of traders lined up Every day basically back to back so we have quite a nice offering here You'll see this one's in Spanish with Frank Moreno from Spanglish trades And then we have options with Doug and then later We also have Well, we have a Twitter event here. We have Brazilian futures with Paco just after this event At 1130 East Coast time and then here the Algo boys round out the day from 2 30 to 4 PM in the close All right, so and that's futures So lots of stuff in here to go through. Anyway, I lead the education here And then we have quite the team to go through so You can reach me at our Bruce at book map on our discord or my Twitter handle at flow order Let me read the disclosures and we'll jump into these markets general disclosure all book map limited materials information and Presentations are for educational purposes only and should not be considered specific investment advice nor recommendations 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, so let's jump in let's take a look nice nice volatility here in the morning and Let me just kind of reach out here and see What's going on In our discord see if there's any questions, etc and get caught up here This stuff here. Yeah. Good morning slow down. Good morning Rob stand others um, so See and and Any questions over here up? Oh, hey, hey Rob over on Our YouTube as well as Viper Viper features So nice to see you Pete All right guys, well, let's take a look here And we'll cover the S&P we'll cover kind of the markets in general first And then like I said, we're gonna dig into what's going on within the order flow For those of you have any questions. I've referred you to come and attend this webinar so we're gonna go through market pulse and It's best to actually attend the YouTube event on that When we're covering that because you will hear market pulse Right and what we're gonna understand how to use it at specific edges in the market Use it for an edge But I mean like an edge in terms of like the top of the range or bottom of range, whatever it might be so All right. Well, anyway, you can see our cash open here the pre-market open Or London session here Some back-and-forth. I mean, you know kind of a grind upward And then here at eight o'clock everything changed and we see really really strong move here to the upside all the way up to 4590 and then we can see what happened here at the cash open Okay, so just before the cash open the sell-off began And then a bit of a pullback here and then the sell-off continued All right. So, you know, I want to cover today during this webinar Volume behind the these moves in here We always talk about who's in control in certain moves and it's so easy and visual here in bookmap Well, look, I mean it sellers at this in this time frame here. It's sellers. No question about it, right? And then sellers you see buy buyers came back in here quite a bit of buy volume However, how did it come in all of this buy volume here, which is a lot Was only able to take price up to here and Then look at the retest up here So this is about context and this is what we go through in the order flow all the time and the context changes as well The order flow can flip you'll see limit buys You know, maybe add on the on the bid and limit sells pull on the offer and you get these buyers aggressive buyers market buy orders Move that market higher in this case here. You can see what happened. Yeah, they were bidding up a bit under here And it was acting as support And you can see where the sellers, you know came in from up here But then you really see here at the 930 cash open the drive lower. It was retested by the buyers This is the context we're talking about And then we can see that the limit sell orders are they started to mount a quite a campaign here So not not the greatest but not bad either So they are they are offering at lower levels than the previous swing high over here They up at 45 90 And what was the reaction though? This is what we want to gauge All of this buying in here, which is good. It's strong Only able to take it up to the open basically Cannot find any more buyers here look at no, we're getting we can even take a look at CBD in these cases here I don't know if McLoco is here today But here's your divergence in CBD and I don't know why it's yellow. I think I was demoing something But look at that strong buying in here In fact, there's divergences all over the place here. This strong buying is more than the selling over here Okay, it made a higher high in CBD a Slightly higher not much but slightly higher than way up here And then then we had a retest here Okay, so there's divergence right there Right now that this is we got positive and negative divergence in here And then we have the another divergence here on a on a double top basically So all of that strong buying a little bit of selling not too much comes back up. Where's where's that strong buying a? Look at the the volume dots and the size In the color within this price action here. Okay. Now these swings Are basically they're they're pretty similar Right. They're almost the same in In in the size or length of the swing here Right, however, look at the volume within it. This is strong Not not too strong here on the sell side Not pretty weak here on the buy side now Look at the dots and look at the bars down here now I just want to show you the bars and the setting I have on the on the volume bars So if I right-click here and go to volume bar setting it is the same that I'm using here at bars as dots I'm using solid and Not a gradient and see if they're gonna be red or it's gonna be green and I'm using volume Delta bars Okay, not total volume. Okay, which will be buying and selling together in an aggregate. This is by minus sell Okay, so it's the Delta and That's it. That's that's what I'm showing here. You have smart clustering a little bit, but that's about it This same setting here as I have for my volume my volume dots. Hey, I have the volume Delta and I Have the smart clustering on here as well Okay, just a little bit is this it's the same you can you can apply it here to the bars Example the clustering right so where I'm going with this is on this pullback here It's about the same size move and there's a lot of buy volume behind it Here's the pullback right to where it basically began down here And it's actually it began down here to be honest I so it's making a higher low here And then it's making an equal high here basically Look at the volume behind it. Look at the bars right, so this is Gonna Be really really helpful. There's your divergence in the volume Hey, here's an equal high basically and then here's your divergence in in cumulative volume Delta as well Right then sellers come in here and move the market lower so understanding the Price move and the volume within it is going to give you a lot of insight in that context So this looks good here actually it should I would imagine this would continue on up You'd get this pullback and you'd get a continuation move The pullback shouldn't be as deep in fact You would look for it to maybe pull back to about here and then continue on up again So again, what we're looking at is the volume within the move All right, and we're understanding that context here Look for this again and again and again put this into a trading plan now. Don't take my word for it prove it prove it to yourself Prove that this is like a low volume pullback and this this one is not this one is Basically, this is a like a failed Continuation here. This is a double top with lower volume on this move to the upside here That's when we find the sellers and we get the trend continuation of the bigger Right. So look for these things look for these these key levels in here in terms of the market structure in this case This key level is actually the open, but this is where we see the sellers come in and pound the market lower right, so now what I want to my point is in Going through the price movement as well as the volume within it. We're going to cover market pulse in a bit And listen to that we're going to use the price change As well as the volume pressure and volume and balance Indicators or algos within the market pole So we'll be able to hear this and we're going to look for that behavior up at these top top of the range here To to get that insight and then yeah, we see who took control again The bulls come back in they cannot even make a higher high here look at the volume again This is a low volume pullback now. Hey, this is even a better setup in here There's less risk on this one Because there's not there's less volume in here We see we see it, you know, some of these dots are pretty big, but look at the selling in here. It's it's way bigger And so we would look for that at least the test back down into liquidity maybe down in this area or this area here and then Potentially continuation in this case it is continuation of the bigger move Hey, it's this is really actually pretty simple stuff We're talking about the the behavior of the traders within these moves Okay, about understanding volume now the heat map adds another element in here that It's fantastic to be able to see this here if we take the heat map off We just covered the volume and the price structure price movement Hey, once we start to look at the heat map though, we get a lot more information In this case here You can see it's pretty, you know dark or kind of bluish in here Right, so the move came back up into this area here. We never tested into this higher liquidity It never came up here We never found the buyers interested in in trading into this high liquidity here Okay, but we found the sellers interested in trading into this First they shied away here then they traded into it again and again and Again again and again Okay, this is how you can capture trends Right and start to understand these these levels in here, right? Then this is actually a pretty classic Momentum move for the morning in the in the markets Okay, so the S&P 500, you know, you look for those big moves in the morning and then usually in later in the in the session you look for the kind of Either it's going to be a continuation or you'll get a mean reversion Back into the the range or even a potential reversal All right after that momentum All right, I See let's see Rob when I go over market pulse can I use? Settings might be useful. Yeah, you know, I'm pretty fine with the the The settings that we have for default on it to be honest but Anyway, yeah, we'll go through it. No no problem Okay. Yeah, we'll take a look Guys, I mean you come into a volume Delta now. This is like I Can be very attractive to look at cumulative volume Delta or any indicator and try to like gain insight from it Here's again is, you know, some pretty big divergence here This did make a lower low here, but look at the low that it made over here Okay, so but let's just put this into context here. This is where it's so important to understand what your indicators What are they doing and then what does it mean? We'll just verify it by looking at the chart in book map because it's all here. It's this is just the You know the blunt calculation Of buy minus sell Plotted over time Hey, well, why didn't you know? This make a lower low like a much lower low here Well because of all of this buying in here and in here and then that this selling in here was able enough to or had the enough momentum and Power to move it and make a slightly lower low here. Okay, but look at the buying coming back in Okay, so looking looking pretty good And we see that move to the upside into this area here where price Dropped pretty significantly. Let's just draw up some of the market structure so here's the swing and then you can see the The sellers coming in here and then the drop. Okay, now Boy, I'm kind of all over the place this morning. We haven't even looked at the higher time frame yet, but one of the things that Front runs or What's the right word preamps the Reversal is a lot of liquidity getting filled on the bid here, for example And you look for these these areas here to get filled. Hey, that's great You know, we know that there's a lot of buyers getting filled in some of these areas here Okay, but price hasn't turned around yet Okay, it is the aggressor that moves price So understanding these areas in here that these buyers are getting filled and getting what they want. They are long but it's the aggressor that moves price and And you can see when the buyers came in here Hey, so now you start to look for the structure to break which it broke In a few different places if you look at this small structure in here, here's where it broke on strong volume Okay, and the next area to test would be this liquidity here, which pulled Okay, and the swings up here which broke on strong volume again Hey, that's why we're looking for a continuation because of these two elements structure being broken and strong volume after Lots of buyers being filled down here Okay and then yeah, if you want to put that into some sort of pattern or whatever this is like a Oh You know, I mean it's not it's not quite ahead in shoulders, right? Well, maybe maybe it's turning into one, but This move is this is already kind of a measured move here So it's more like it just kind of retested back down here and then just found a lot of buyers It didn't have to do a shoulder didn't have to do a pullback. This is the pullback right here Okay, look at how meek that is And look at how strong that buying is Okay, so look how we're retesting that area now, too Okay, so here we're gonna start to look for some things in the price action Okay, and the order flow first we in the order flow. Well, is there buying interest here a little bit a little bit lower 71 Look at this strong move by the sellers in this time frame Okay So and and the buyers here's that the little bit of a pullback here and now the selling continues Okay, we're looking at this key area right here right here Right. This is kind of the key here. This is where those buyers came in This is something that Rob likes looking at is the point of control of this little range here Okay, which would be right here. Okay at 71 and that's why that liquidity was there most likely Right and yet now look what happened here The selling continued it just blazed right through it the Rob. This is something we talked about on Tuesday That be very careful about these These kinds of pullbacks to here is better if you can see the support here up a little higher This is kind of the last gasp is the point of control And but this this is what happened in this instance here That selling pressure very little by volume on the on the move back On the pullback and then strong selling again Okay, I was looking for support here Okay, and maybe a bounce here because we also know that this is strong buying in here All right, so markets are Kind of kind of all over the place. We would anticipate the support here at this kind of 71 72 area here And we didn't get it and we didn't really see it in the order book either We just saw a little bit here at 71. Hey, this this area right here And did they even trade? Yeah, they traded but Sellers just that we're able there's just more selling pressure. That's all there is to it able to move it lower here all right so now Now we know that sellers have Powered through that area here. Let's see if we get a reaction by buyers here Okay, here's a retest Very little selling on the retest here and buying up here. Okay All right, so then let's look for Let's see if we get a little support here in the order book first on the bid in these areas here And they're not It's a little bit coming in now as price moves away though What I'm looking for here is to see if there's any buying interest in trying to take this back up to 72 You can see that there was none at this point Sellers continue to drop Rob. Okay, so you're looking at High volume nodes and and maybe where retail stops are below that and then come back into the high volume node Sure. Yeah, makes sense. That happens a lot. Actually, you'll see that this being the last gas Maybe it will spike just below here This will range and then and then you get your bounce right in this case. This is a directional move And we're looking for the low here. All right, we're looking for this 65 and 61 area here Okay, pretty strong strong move We're look for a continuation And we're through our level here well, Rob, just Tell me like what's your definition of a high volume node? It sounds kind of silly but and Why is it? Why does it have this kind of magic for you? I know it's kind of a kind of a funny question, but You know, I just think is I really believe in this you have to know what these things are and And in VP OC why why what what's what's the magic behind it? Because what happens is we hear this in the books And you know all the time we or other traders or whatever. Oh is hitting the VWAP is seeing the POC. It's gonna bounce Why? What what are these things? Did you test them? Do you have data behind them? Hey, do they work? It's just a line But what's behind it? right Like I think moving averages are are are are bunk basically And less and less other traders are looking at a specific moving average Or or for example, let's your your moving average lines up with an order flow area Then you've got something Right now. I know that's it's kind of a Bold to say something like that, but just understand what the moving average is like who cares It's only if a lot of traders are looking at it Does it matter? Okay, so a view VWAP is actually pretty good because a lot of traders are looking at a VWAP a POC is pretty good because a lot of traders are gonna be looking at it Okay, so we're getting down to that what we say 65 and then 61 Something like that or 62 I guess yeah demonstrator What's the line up? Oh, this is the cumulative volume Delta. Yeah, I'll just go back and We'll go back to the regular colors here default colors In fact, I'm gonna take it off here. I just wanted to demonstrate What's behind some of these moves in here? And cumulative volume Delta does a pretty good job with that. No, I yeah, you don't have to be looking at I know you don't look at moving averages Rob And and fib levels and another thing is just like who cares like why okay? If you if you studied it and you have your data behind it quantified it great The levels are meaningful to you that all right. Look at them. It's a little momentum coming back into the market We're not gonna get our move down to our Did move to 65 is we're not gonna get it right now to 62 Here we were probably likely gonna come up to 71 here instead Maybe yes, 71 72 My point my point is on some of the moving averages here. Let's we'll put a VWAP on here Is that it really doesn't matter? Unless someone's using it and making decisions off of it. Okay, otherwise it can be very random However, what's not random is this? This is where sellers came in Here's our small pullback. This is where sellers came in a small pullback. This is where sellers came in This is where sellers are starting to dry up. Look at this strong move. And then what about here? I Don't see too many sellers at this previous swing here swing low for the day I do see some buyers coming and no and I do see more momentum coming in So I'm looking for this to continue on up to at least where it blew through our level at 72 71 72 Maybe it can come back up and retest where these sellers are which happens to be VWAP as well Is it happen chance? Or not doesn't really matter It's just that this is where the price moved on heavy selling Sellers in this move are dominating the market at this time Okay, and this is the buyers Attack back at those at those sellers right in here Yeah, we're gonna continue. Let me um Rob, I'm sorry. I'm not to not to be a jerk and put you on the spot here I just want to really you know for for for traders especially bookmap traders To understand what's behind there what what they're looking at and You more times than not when you really boil it down It's all about it really is just all about the order flow and and the the The aggressors okay the volume. That's it. That's what may is the participants that make up the the price action Okay, so like here right look at look at the sellers coming in here here in here Okay into high liquidity at 67 and a half Look at the buyers response back to it Hey now can buyers get back up above here on buy volume. Here's a little bit That's it though. That's their attack. It's not enough. Hey, here comes a re-attack. Do they see it? Yeah a little bit All right, so let's see if buyers can reach up to 70 and now 71 Hey, we're at 70. Let's see. Can we get to 71? There's good momentum. See look at the buying pressure behind the move It into high liquidity 70 and a half now Okay, so maybe take some profit at 70 and a half now. This is a very small scalp The idea is the same Here we go again. Here's a read there was a pullback. Here's our retest Is there still buying pressure? Yeah, there is All right, let's see them move it a little bit higher. Maybe they get to 72 here. Hey, I see buying here I don't see it. There's some selling I'm seeing more buying So I'm looking for this to extend up into 72 and There's our move Basically, there it is. Okay 72 did trade 19 up there now You wouldn't have gotten filled at 19 unless you have been waiting for quite a while like that But nonetheless it hit the level, right? Oh, yeah, you can trade Nasdaq note. No problem Yeah, I'm not going to answer that three times, but Yes, we can we can take a look at it, too the concepts are the same it's just going to be a different market and A little more volatile because there's less. I mean look at the depth in this market compared to Nasdaq Right, you have you know in the teens here in terms of liquidity And so you're going to get bigger moves quicker moves right now. It's five dollars a tick Compared to S&P which is 1250 a tick Right, so there's gonna be Maybe it kind of equals out I don't know I'm sure someone's done the math on that but Anyway, yeah, same same concept same ideas in here look at the move this kind of The same same thing here that we saw in the S&P here's that buying coming in starting to break Structures not quite as defined here. The structure is nice here though That we we can see and which broke on high volume retested here And then we see that high volume come again on the buy side FX futures absolutely Vince In fact, do I have euro dollar? No, I don't oh, no, I don't I'm Been using it for correlations, but yeah, I haven't Haven't put it up for the last few days here Is a great one though and you can use that for spot if you trade spot 4x as well You can read the liquidity same same concepts in here Okay, interesting move here Nasdaq on the way down here on very little selling There's more buying in here in fact, okay, so I was trying to get to the point where What this means in here typically now it played out really nicely got it would have been This is one of the things I actually love about the Nasdaq market is like it happens so quickly So you have to explain things very quickly Look at the buying in here, right? It is failing They're buying as price is going against them buying as price goes against them and They and they couldn't even make a higher high here or an even an equal high here on all of this buying in here That's not good This is where they're gonna be sellers here on the way back down Okay, so we talked about this move and there were some questions about it Last Monday or Tuesday, but like what does that mean here and well this this is a good example of it Okay, there's buying in here, but it's failing to move that market now This is buying Delta right, but there's more buying in here, but there's there's no movement higher So I think there's probably a big iceberg order in there Let's turn on Stops and icebergs on chart and it's the sub chart here We'll just go with a sub chart for which is fine Interesting, okay, so a lot of buying icebergs in here on the blue line here very little here in fact Anyway, that's a Nasdaq How's our S&P doing here? All right, so we got our move up into our 72 Which was that kind of critical line here in the sand Where we saw the breakout we just broke the structure here strong strong by volume and then it broke through Here's the retest and we're getting another retest here. Alright, so this is pretty strong buying on a retest I'm looking for them to try to break it and come back up now to 75 Okay, let's go over this again here strong by volume. We're looking for that continuation here Okay, we're up at a critical level, but we're through it it came back down retested here And now we're looking for that continuation move. Okay, this is a great way to understand and Utilize continuation moves. Hey, you can look at your bull flags This would be kind of like a bull flag in here It's not doing a measured move yet So we got to come up to 75 here But yeah, I was kind of it's not really a bull flag, but I Would love to see it do something like that It still may But it just means that there weren't enough buyers up here to take it take it higher at this time And we may get them now. Let's see Let's put on the market pulse The ES here we're gonna we're gonna add the price change the volume pressure And volume pressure and balance and you guys are gonna hear this Price change and this is percentage Okay, so if this has been changed up a little bit. I like it looks good Okay, so So now here here's our pullback to where those buyers came in here right and move the market and we're finding more buyers All right So let's take a look at the and the context here looks good. If we get more here. I'm looking for the move to 74 We have a little bit on the bid here Now we're just looking for a little more pressure here 72 and a half or so and we're gonna we should hear it in in here as well And we're not okay. Here we go. All right, so let's see it now looking for the move here We've got some momentum on the buy side. We've pulled back and we still see buying pressure here And so we're looking for the move higher The only one that's moving here is the price change, which is Telling us something not we're just kind of visually looking at this in book map here We don't hear it in market pulse right now. It's just too bad. It would be nice to hear it It just means that it's not as strong as we would have heard it on this move here And that this move is not quite as strong And that's that's what it means All right, so now I would be very careful with this move in here Because here's our divergence again. We can start to look at this kind of volume compared to this kind of volume over here All right, and we can see it in We're gonna put CVD on we're gonna we're gonna see some divergence for sure a little bit. Yeah, not too much But you can see it certainly here in In fact here look at the selling in here, right? So, you know, here's our equal high and On less volume. It was this volume that we were looking at though for it to pull the market up Okay, and then try to pull it up into 75 And that still may do it Comes a bit. All right buyers. Let's see. Let's see if you can just move it up to here or the previous swing 73 to 73 and three quarters Okay, we got see that we got a little help here on the order book and the reaction is buyers Now we're seeing some sellers. All right, that kind of convolutes the move here and makes this a A bit more of a battle between the buyers and sellers Because they were there they traded into this liquidity here the sellers did And we're seeing the buyers went out on this battle so far So we've made it back up into our swings here still on this one. Oh, he's starting to hear our market pulls great looking for 75 okay, it looks better For our move into 75 starting to hear it Starting to come into the market here And let's see if we can get the volume pressure and balance as well and the price change PC here price change Okay, can you guys hear that you hear that buy volume come in? Okay, so Now we're hearing sellers come in no Buyers and sellers a bit of a battle here. Okay beautiful move into 75 there All right, so a little little confusing I mean if we look at it and you stick with the plan the momentum here now This is really actually really important First off anything can happen at any time in these markets The behavior could be all of a sudden massive selling comes in here and moves this market lower Right the battle a battle starts to unfold in here Okay, but how do we stay away from that and not get shaken out of something like this now? This this is more about Really backtesting and understanding and knowing you have something that has higher probability In here and then looking for The that move to continue Right because we we we saw the buyers come in and we heard some sellers coming in And then we get back up here and we got our buyers and then we got our move that We were originally looking for my point is this We're leaning on all of this buying in here that move this market higher To remain in control We see some selling in here, but look what that selling did They were probably going to see some icebergs there. I imagine In here No, we see the selling icebergs actually a little higher here Okay, so anyway this selling in here failed to even come back down to this swing So and we get buyers back up again here. This is where you're looking for that continuation Up into 75 and 75 was just our target. That's it just 75 from down here on up to 75 or It was on it was down here up to 73 73 and three quarters and then 75 And now it's continuing here And so now we're leaning on again all of this buy volume here And we're going to get pullbacks in here We maybe lean on the right where vwap is and we can look at this little see this little back and forth swing in here Okay, rob. This is what you're looking at and you're you're a very small poc In that little area right there and a bounce off of that and a continuation move Now we do have exhaustion up here not not much buying But not a whole lot of selling either And we're leaning on all of this buying now So we're still looking for the buyers here to lift it up into 78 Okay, and let's hear it in market pulse here price change is already You know that price has changed and uh And see it we're now we're looking for volume though to confirm that price change movement Okay, there's some there's Some pretty heavy selling now. Did the selling drop it through? Uh that level no Not yet It may Yep, there it goes And now do we see a counter attack again again like buyers remain in control here Boy, that's quite a bit of selling though See look at the bars here And it's all relative here relative volume here So sellers they're attacking the these buyers here All right, so let's go through a few things in here One We're we're looking for the continuation. We're leaning on this buy volume in here We did note note the exhaustion up here But we saw some buying coming back in here looking pretty good for trading up to 78 It didn't it Instead we we heard the sellers come in and we we heard them hitting pretty hard the bid Hey, how do you manage that? Hey, we're our expectations is for buyers Hey, and it's not meeting our expectation Hey, now this is not a trading room in here, but we're going to just talk about how to how to if this is your high probability Set up that you're looking for And it's not doing what you want Or what you have studied get out of the trade And and you take a you take your small loss and you look for the next one Uh where that high probability trade sets up That's it Okay, now let's take a look at step back again and take a look at what's going on within this action Okay, so pretty strong volume on the way up Pretty strong volume on the way down So what are we we're in a big range here? Okay, and um That's what we that's what we see at the moment Okay, if the buyers remain in control we're looking for a very little selling here As a pullback and then a continuation move on up The little pings alex. So that's that's the market pulse So let's look at okay. So the question I got was market pulse at certain Edges and levels like right now. Let's just take a look at this very small level here Okay, we want to see we're probably not going to hear it, but we're looking for Buyers here Right. This is where you get the edge. Do we get buyers in here? And a few but look at we have sellers too. Okay, so we're kind of It's just back and forth in here. Okay, so there's actually able to drop it right back down to the bottom of the range on um Not a whole lot in here that that dropped it the volume started up here Okay, so now I'm looking for buyers to come in and fill that gap Hey, it's basically like a gap and come back right back up to 74 and a quarter Okay, so I'm exhausted is exhausted out here. So we had a little bit of a move But exhausted out here and now we're getting sellers at our lower low here So actually now we're gonna we're not looking for that fill. We're looking for continuation here to the downside Right and that that's happening right as we're speaking Okay, so back down to this swing here Uh around 71 Okay guys, this is much more like a low volume pullback here A strong selling Looks like it's strong buying in here, but look at it. Look at the bars. Look at the dots So this is this is your pullback And we're looking for the move to the the bottom of the range and continuation Okay, we have a order book here 73 and a half throwing uh limit sell orders Uh, yeah, I'd look for the test in the 71 70 And maybe 68 here Okay, that that liquidity here And looking for sellers to hit the bid into the here Okay, so um See if we can uh Get more micro structural stuff here and a little bit of market structure All right looking at these swings Looking at the volume within these swings here All right, here's here's the buy volume really paltry looking for sellers here hit the bid and then looking for the move lower here Okay, and the moment I said that we see our buyers come back in Uh interesting so be very careful on this Uh, we're looking here at this Uh potential upending if there's a ton of buying up here Hey, because we just we just noted that uh, there's not a lot of buying in here. It's mostly selling There we go. There's some selling here. They should we should see some selling in in here be able to drop it back down to here 71 And we just don't see a whole lot of buying up here Okay, the bid is looking pretty strong though guys, so This this really kind of disrupts the whole thing There's some exhaustion now. Does the bid poll did they flip on the offer here? Yeah a little bit Yeah looking like it All right. All right sellers. Let's see if we can we can pick it up here at 72 and then get our push down into 70 and Maybe even like 68 Hey, so that was you know again like we're doing the read here in real time and uh trying trying to figure out like, uh, who's Uh Who's got the volume pressure to move here? Okay, top of the range here Did not expect this Still more selling though in general if we look at this whole range in here Still more selling these are very small ranges that we're looking at here A nice cluster of buying, but it's still pretty paltry compared to the this move here on the sell side Right. Well, yeah, that didn't work out as planned Uh, this is like, um I mean we've covered all these things a million times. Um, and now we're getting our buyers trying to upend all this selling in here Uh, it and the fuel actually fuels looking really good now. Um Yeah, this is strong move here Okay, it should be big stop runs in here Not so big. It's not bad though All right. So yeah, what I wanted to cover. I mean, it would be the same analysis as before There's more selling in here There's not a whole lot of buying There's more selling down here. I was looking for the move at this point and the buyers come back in Okay, and then they're even able to move this up here Uh, I'm not a whole lot of buy volume. The buy volume really picks up up here right Uh, but what's important here in and we this is what we've covered many times So I would have gone with the same analysis Looking for that drop in here and now the um The one thing what we've noted though is that All of this selling in here. It doesn't really matter if there can be a low volume pullback up to here And get this get all these sellers off guard uh, and then uh For them to be buyers on the way back up. Okay a stop run Basically, so it could be a low volume pullback in here and that's where it gets really kind of iffy Uh, and um, that's what happened in this case here And it's not the biggest stop run, but it is a stop run Up and up into these areas here. You can see the red line Right, even though it was on less buy volume And so that that's the the one caveat in here. Uh, and in fact, we look for that in the um When they're when it's trapped uh Trap sellers and you can you can look for the squeeze Now we're just trying to go over strong moves with strong volume And then continuation Let's see rob. You have an image in here that you're talking about a high time frame Yeah, you know, I'm gonna go with gary nordin's Kind of definition of order flow When he talks about order flow, he's talking about the dome Okay now in in book map We're lucky enough to get the dome on the historical chart Uh, we can see the the um, you know Like up here right now in the current order book Uh here look at 45, uh 75 here. There's 233 contracts, right in the current order book in the dome But we see it here and we know when they came in precisely How long they've been in here and that they've been adding and pulling at this level So we do have the order flow here on the chart Okay, and we do know that this order flow over here got filled These sellers got filled and now we also do know that this imbalance in the order book here We found sellers And the reaction to this selling that came in here is Uh more market sell orders. All right So therefore we're looking for it and we do see some selling here We get a little bit more here at 73 and a quarter. We should get the move into 72 and a half Maybe 71 and three quarters Okay, now we got some selling and we're looking for a retest here and the retest is right in here We didn't get it We didn't get that selling. There's one little maybe one contract here A very little uh down here Yeah, one contract this one for a guy um And now we see buyers actually trading into And this is this is kind of wicked. This is a little bit of a little bit of a flip of the order book here It's not uh, it's not the um Uh prohibitive practice here, uh, but it's getting there. It's getting close to it I see you see this guy pulled now as liquidity Okay Disruptive practice would be that this liquidity pulled does not fill Uh, and then they they slam it through with a bunch of market buys and then flip from offer to bid And then cap this area kind of seal it Seal it off And they didn't do that, but is there's something kind of funny in here Okay, I look now. Let's just take a step back here Uh, and then look at the buying pressure come in now. We're looking for those sellers It was it was equal here. Then we saw the selling here. So we're looking for the move lower It's been snatched away. Uh our horizontal line here became support Uh a little bit of support here in the bid here. I was looking for them to hit down again Uh lower Uh and trade through that area Uh, we're just seeing buyers come back in Now we're back up here again And uh, and this is strong buying. All right Looking for the second leg here in continuation All right, let's see if we get it Big sell dot right into high liquidity right there Okay, so that's uh, it's gonna it's not going to be easy reading this here All right, let's see if we can get it here a little bit higher more buying None Now we like the we're leaning on this and this so we're still looking for this here Okay, this is a much better setup instead of some of these other small little ranges we're looking at Uh, very simply here because of this and this and now we're starting to hear it Now this is where you can start to use your your um Your your market pulse, right? There's our buyers Okay, now did we get our price movement along with that buying? Not so much and here's why we have that high liquidity here at 78 that got filled Okay, so we got to get more buyers again and then and then 80 here Yeah, it sounds good The price change one i'm gonna actually turn that one off We'll just use that visually here I want to hear the volume come in. I know that I know the price has changed There we go Okay buyers should be able to reach 80 And uh pretty strong buying here so we look for a continuation Not just 80 Uh, maybe we can get back up into 83 maybe even 86 up here. Maybe even highs of the day back to 90 Okay, we're outside of this bigger range here On strong volume, so let's cancel all of this all this all these drawings and make it simple So now we're looking for Up to Here uh rob you gave us this image here. Let's take a look Okay volume profile comment Yeah, why do you look low at previous high volume nodes? Why? Okay, if you want to talk about auction market theory just understanding like basically volume profile here market profile is just You know turning the volume basically on its On the x-axis instead or the y-axis I should say And then it's accumulating it from uh, you know, you know the horizontal here So all you're looking at is like, you know at these price ranges how much traded at these price ranges So here there's a high volume node, which means a lot traded here and so uh this means that Basically a lot of traders agreed upon this price. They certainly agreed upon this whole price area here This area here your low volume node. They did not agree upon this It blazed right through it And then it transacted up here and and it kind of price discovered this area as you can see the price movement here in the yellow line, right? And and then the back and forth in here. It's this price action all in here That made up this profile So what we're talking about is a range At bottom of this range is rejection top of the range is basically rejection too And now you got a start of a new session here Uh, and then you you can see that price Explored and went up into a higher area and then the back and forth this price action here made up this profile here Okay, and it this is where it traded the most and there's the double distribution here here and here These two areas traded the most so it traded here and then we just take a look at the price action Okay, the price action makes all of this up the problem here that that I have with Volume I love volume profile how visual it is And I like the kind of statistical nature of it but There's a lot of things I don't like about it. I think it's aggregation just on on a different axis And and you can even see you have your your green and your blue on each side here. So you've got your Value area high value area low meaning that you know, this is a A standard deviation Most the price action was here and there were some outside of those areas So you would anticipate most price action to stay within these areas, which is a pretty good Assumption now it broke it broke away here Okay, this is where book map is really helpful Let me get the pen tool out Okay, this is where book map is really helpful because who cares About and I hate to bash it. I just I just don't I just have problems when I and I see a lot of traders Uh, and it's not book map traders It's just stuff on the internet on youtube and and they're talking about these things and they don't really understand them Uh, they understand the concept of trading them Uh high volume, no low volume. No, but what are they? Uh, and then here's the problem here All of this price action great great. It's all great All right, and we just we just noted you got your high volume node You get in this into yellow here. You got your high volume node, you know Nodes, uh in here you got your standard or standard deviation value area high value area low, etc But you don't have The vertical You don't you don't have it It's not in here This is this moved away. This is where book map can be really helpful Okay, because look at this in here. This is where you're gonna find Your big volume dots This is what move price Yeah, I don't know what day this is. Let me kind of look at it here. I guess Um, and then look where it retested. Okay. Well, you could this is where volume profile again is pretty good Okay, uh, it kind of retested these this low volume node in here Right, uh, but here's the swing right right here Uh, that's kind of what it tested really Uh, it didn't have anything to do with the volume profile too much Okay, this is what controls the market at this point not this It's this And this is what uh, we look for maybe low volume pullback and we look for those sellers to come in again And we look for them to drop it again right, so, uh, the vertical here and understanding that is really critical And this is where book map shows it really nicely You're this is why a lot of a lot of traders look at their footprint charts and uh, and then look at their volume profile Footprint charts are good. Uh They'll show you they'll show you the volume, uh in certain areas um, but they um Very specifically they'll show you show it but on a bar Right, you won't see the price action.  Uh, it might be it might not be uh, depending on your settings Uh, but um, we want the context of this price action and volume Uh with the buyers versus the sellers in here Okay, so, uh, we were looking for Uh the move up into here and we have our strong volume in here now We're getting a pullback Hey, but I would look for more buyers to support this now Do we see that yet and we and look at look at the sellers on the pullback here Now we never know right, but it looks pretty good still that will continue on upwards Okay, just from this view in here All right now the volume like I said the the volume profile is in here is this is what's important here. It's understanding this oops This volume okay, and also the breakout above this this area here Okay, so we're looking for support Uh on that buy side and we're going to lean on this volume in here and this vertical strong vertical move here or more vertical move Uh, and then what we look for again, then is we can use our market pulls here Uh in in some of these lower levels in here Like right now. I want to hear I want to hear buyers come in right here at seventy eight and a half Okay, I want to see the order books show something in here I want to see the bid the bid is here at seventy six, but it's it's pretty far down there I want to see it there. There we go here. They're starting to show a little bit in here Okay, do we what's the reaction to the bid here? Okay, there's some on the offer too. So it's kind of muted in here And but let's see we'll see we'll see an imbalance in here in the order book And we'll see the buyers or sellers come in now the buyers are coming in. This is what we kind of anticipated Okay, so let's see them try to move now price back up to here Okay, leaning on all of this buying in here Right, so for you pullback traders. Maybe you're even even a moving average pullback trader That's fine. Just make sure that it lines up. Maybe structurally with some of the order flow in here As well as the price action in here Hey, you can look for these areas it just happens again and again Like rob like the way you're looking at this little high volume node in here all this back and forth in here You're looking for this to be a value area to be supported and then for buyers to continue On the move back up All right Hope that helps I'm I'm convinced of it. I think this Obviously I work at book map here However, I'm just convinced is this is how the markets work. We can look at it on the most binary scale Looking at buyers and sellers in here right and If they is the same concepts in on these little micro structural areas in here They can sell down here an auction down here Okay, and it's exhausting up here then sellers have the potential to break it then Okay in this small time frame Hey, there's exhaustion exhaustion. It's auctioning down here Okay, so yeah, I would actually in this very small time frame in here If we can get more sellers here, we should get a little bit of a maybe a move and only a few ticks, right? Maybe it comes down to 77 and a quarter maybe but I don't see any buying up here Right now that said We go through different scenarios in here What if there are a lot of sellers in here? Getting the bid And they can't move it And then the market shifts Uh, and uh, and then starts to trade up here Where it didn't trade previously or very little And it shifts and we see buyers here. Maybe they even move price one one more level here Now this is our trap volume down here and we have the potential to do something like this Into this liquidity up here Right, so a few different scenarios in here and understanding the range the price action and understanding the the transactions within that And this concept in here is no different Than if we are looking at much higher time frames Okay So the higher time frame is this Okay, what we're leaning on this five volume in here Right as as we discussed We're leaning on this and here they come. It's looking good. There's more buyers here Okay, so let's see them lift it up into 80 uh 81 for starters And then maybe uh 83 up here 82 83 Uh, let's see here rob the gray vps and uh extended trading hours are too close. Okay Oh, I was reading it wrong. Okay, so it wasn't value area high value area low Welcome sloth.  Oh, it looks like I'm missing a lot of questions in here. Sorry guys How do you widen the spread between the bid and the ask? Well, we don't do that. I mean that that would be the participants Um, so s s and p, you know fills that that that spread pretty quickly Uh, there's so many participants, uh, but if we look at it like tesla, which is, you know $260 stock here's our here's our spread in here Okay, so, you know, here's the best ask here's the best bid All right, and you can see it kind of widen and then it narrows and then you know You see it Now it crosses here, but this crosses is it's erroneous It's this or it I should say is this is not how the markets work There's two different feeds in here. This is this is how the markets actually work They this buying here took place on the on the best bid Uh, but the update just because we're at sub second levels here The best bid uh and offer update later right they update here Okay, but these transactions first Then the update happens Okay, that's all I think someone had a question on that and uh Uh Support or in discord. I think it was uh trair trair carlson Yeah, so uh, yeah, that that that's what's happening there. It's just an update, uh, the Price movement happened very very quickly and you were looking at very sub second levels Uh, the volume profiles that you see here in book map they they come with it Hey, these are just volume columns Over here and we have different I have two different chart range volume profiles in here One is showing the composite the other one is showing a delta Okay, so uh, which you know, we have talked about like it, you know seen like I mean, I just am fascinated by it this chart range here in the volume within it Buyers are in control here in this area They will be out of control if they get if we get sellers down here And this is where the sellers are out of control. Uh, if we can get them to get squeezed up in here Right, so we're right at that line. In fact, so we're going to see something happen here Someone's going to get squeezed Uh in this little price range in here. It looks like the buyers are getting squeezed All right. Well, let's see. Maybe it rejects here And maybe the buyers come in hand over fist up here To 79 and a and a half and then we get our move at 81 at our move to 81 actually took place Ah, okay. And that was our previous move, right? Hey, we're still looking for it Okay. All right. So here now look at the delta in here, right? We just if we find enough buyers in here, they'll just leave these sellers behind Okay, this is the battle here and we're at our european close. So we're going to get a little volatility in price action here Uh, it's going to kind of take Out some of the meaning from uh, what we're reading in here because It's erratic behavior at a close of a Uh, another market Good morning, tony Yeah, uh, rob You can zoom out and look at the bigger picture also in book map.  That's fine You know, we can also look at our candlesticks, which we didn't do today Uh, which would have helped I should have done that. We're about to end the webinar. I should have done it early on Um, this is an inside day here Uh, you know, this is one of the things that we look at when we start the webinars Is how is the same concepts again in this range in here or this price action from yesterday Where is price now? Right. Well, it's within all of that price action So that's this is we're having a kind of choppy day in here But this concept of within this price action here is the same on the lower time frame Okay, so it would be the same as the price action now Is within this range here controlled by buyers Right this this rectangle. So we're looking for And we know we're going to lean on this so We're looking for our buyers to trade back up here and then maybe potentially break it Because there's more buying in here than there is selling at this time Okay, but we're it's back and forth within this big move here Which is a strong buy move. No, I'm still Well, what is the mean reversion trade today? No, I'm still looking for these buyers to try to lift it here to be honest um I like it And well, let's take a look at our bigger our higher time frame in here Where might they move it? Well, maybe up here like uh and retest these highs here From the from the open that basically 86 and uh in a quarter here on the hourly Right on the 15 minute chart here somewhat somewhere around in here 86 let's let's call it Yeah, I'm looking for that It due to the strong move away from all of this back and forth price action here So now let's let's let's hear it. Uh Use our market pulse. Uh, and then also look at our the top of our structure here Which is something like that somewhere around here around 75, uh, 79 and a half 80 Okay, now now what we're looking for is a couple different things We're hearing we're hearing those buyers. All right, so Looks good Here's sounds good. Let's they should be able to move it up into 81 There they go. All right now we're looking for price movement And volume and we're we are getting that So I'm looking for continuation now. I'm looking forward to test up to the top of the range and then Uh, potentially through it Uh into our 80 82 83 level here Okay This is how you can this was and this answers the question about the uh using the market pulse at the at the top of these ranges Okay, now there was a nice barrage of uh buying And then now what about the pullback here Not so much selling Okay, so now we're looking for a retest backup here and we want to hear this We want to hear those buyers come in again here right here 80 and a half and nothing Okay, now this is smaller range, but the same concept in here. This is what we're leaning on And we're looking for uh buyers at the top of the top of the range here Or lack of sellers down here And then you can even you look for that lack of selling and you find your buyers in here You can trade it up to the top of the range and then maybe take some off and then look for continuation All right, that's a way of of potentially managing it and going with the trend Okay, so there's a move at the top of the range buying looks good There's our market pulse and let's hear market pulse really ramp up here. I want to hear it. I want to hear a stop run happen All right, so anyway guys, you know looking at this here in this concept that we just took from our higher time frame and and and range uh on the daily and you know within the Within the bars here, uh the the price action the daily bar is much better than looking at out any other time frame here It makes sense there because it's the end of a session in the beginning of a session Uh a time frame session. Who cares? It's still the same day but um What I what I'm trying to cover here is uh, uh the The concept is the same that we're leaning on this and then we're looking for a continuation, right now that's Just an idea It's an order flow or you know a volume event idea here Worthy of going back and studying Don't don't take my word for it at all Go go prove it To yourself. How do you do that? Go through examples Go back and back test it Okay, so it did it here it pulled back We saw that bind and then we're looking for the move back up And it did it Okay, so it did it twice in here It also failed a few times, right? Let's see we can we can find where it failed. Ah, it was it was I think it was this one here Yeah, we're we're looking for continuation in here Uh, and we looked at the volume in here everything looking good it failed in here Okay, how did it fail? How many times did it fail? How do you assess your risk in here? Where do you put your stop? Where do you take your take partial profit? If you want to do that or or hold for longer, how do you manage that? Okay Now here's three examples go and document it Okay, if this is something that resonates with you go and document it and then Once you have enough examples of this Now you have a potential trading plan Okay, something that assesses your risk. So, you know here it is actually is failing is failing here And look at all of that buying in here. This is everything was looking hunky dory great going up to 85, right? Uh We said 83 Did it didn't even make it to 83? Okay, just one tick shy of 83 Right, and then look what disrupted the whole thing Look at that selling Relative volume here of the buying versus the selling Okay, and the dots the size of the dots the price move Uh, and the and the volume bars Okay, now so this this whole idea is is totally disrupted here And then now, uh Yeah, now trader k like now we can look for our mean reversion at this point Right if sellers are going to take control here Your mean reversion play Oh, I don't know. Has it already done it already looking for maybe, uh, you know one of the areas down here Okay, I mean this is your high volume node right here Or maybe you're just looking for a vwap as your mean version. Okay, which is not a bad idea Anyway, guys, uh, let's let's wrap it up. If you if you like this, please hit the like button um, we're Uh in the midst of You know creating some new content for you guys that I think you're really going to like Uh talking about these setups and strategies and at a deeper level And uh, we have a lot of other things moving forward here So, uh, it's going to be a really grounded solid Education for you it already is but it's going to be even more refined And I really looking forward to it and I'm really happy to offer this to you guys We have Tom B will be back on monday. He's off this week So, uh, he usually comes in on right at this time. Okay, 11 30 east coast time And then that would be followed up by today at least it'll be followed up by frank marrero at 1 p.m in in spanish Then options with dug 130 and then we have a twitter event Twitter space event also for like half hour, I think Later today and then we have the algo boys only in discord discord room only Oh, we have paco in brazilian futures as well. Uh, right now. He's he's already starting Okay, so come to discord if you want or you can also see that on on our Brazilian youtube channel Okay, let's see rob. You had a question here. Uh, are you talking to arthur? Yeah, that's from a different program. Yeah, that that that wasn't book map. Um, but Like I said, uh I just think it's really important to understand what you're looking at and and understand, um What moves the market and indicators and high volume nodes don't move the market It's traders. It is the auction process And we want to understand the behavior of the traders so Book map offers that historically and currently right we have a current order book and um price action And we have the All the transactions within the price action here and we also have the liquidity The other side of the trade who's taking that other side of the trade here uh see The vpi market pulse here, this is volume pressure in balance. So this is by minus selling here Okay, so that's that's the two that we have here now you can see A lot of selling all all of a sudden starting to come in Now we're we're selling into the bottom of of the um range here though Right the selling looks pretty good. It's it's pretty strong Hey, but it's at the bottom of range It hasn't broken that range yet So we want to be we want to be attentive. Yeah selling looks good. All right, but we want to see Uh, and this answers that question again. Yeah, they sold into the bottom of the range here Uh, did they sell through it? No, they didn't All right, so on this maybe you can even look for uh Here's your pullback now. Look at the pullback in here How's that pullback look Not too good. Did it make a higher high? No Hey, do we see more sellers come in? Yeah, we do. All right. Do we see sellers again here? Yeah I would look for sellers to drop it now uh and try to get down into um 76 and three quarters liquidity Uh, maybe 75 liquidity and they're these guys it it they were not able to uh To drop it at all. Uh, so, uh We got a retest back up here and and the volume is uh, it's not bad. It's not good, but it's not bad So this is this is uh, this was a rather uh Rather tricky here This was looking good for really good for a drop right here Uh, one thing we we had some uh liquidity here. It would have loved to have seen it lower That'd be great. Uh, we haven't covered too much of the order book today. We're talking about moves and Falling behind moves All right guys. Well, thanks for coming everybody. Let's uh, we'll wrap it up. We'll we'll see you on Monday Have a great weekend and uh, yeah Monday morning. We'll see you then. All right. Thanks for coming. Bye. Bye