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Fractals Study Session - SUNDAY Aug 2, 2026 — Transcript

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0:05Okay, welcome to Sunday group. This is
0:07user of Fractal X.
0:10We're going to um share charts, compare
0:13notes, recap the week, and see what's
0:16happening coming up. Um, there was some
0:20questions about what happened on Friday
0:23with, you know, we were talking about
0:26there was going to be a floor test and
0:28then, you know, we ended up going up.
0:31So, how did we know when we changed
0:34directions? So, I was taking notes um
0:37Friday afternoon after close to kind of
0:39show just, you know, not spend a lot of
0:42time on it unless you guys have
0:43questions, but to um just show what was
0:48going on in the morning with OMM levels
0:50and the charts and and where you can see
0:54when that shift occurs. The more you
0:57look at it and the more times you do it,
0:59the better you get at spotting it. It's
1:02still hard to spot, but when it happens,
1:07you know, of course, in hindsight, we
1:09can look back and say, "Oh, it was so
1:10obvious." But that's what we're going to
1:13do first. And then we'll build charts.
1:15Um, and if anybody has any questions,
1:17just open your mic and ask, cuz I can
1:20barely keep up with the chat and stuff,
1:22too. Um,
1:25VM, you're server muted. I'm going to
1:27unserver mute you. Your mic's open. and
1:31um let's see. Okay, so let's start.
1:42Everybody who comes to these knows I
1:44always pull out the milk chart first.
1:46That's like the first big thing we look
1:48at on our recap. So, cuz he's got
1:52everything on here from fractals, order
1:54flow, and you know, of course, just a
1:58chart and then also the vector. So, this
2:00was pre-market, you know, we're mining
2:02the yellow box, mining the vector,
2:05little test there, test. We got up into
2:09this um by open. We were getting up into
2:11the uh buyer's objective, which is where
2:14he had marked off the overnight ceiling
2:16was over here, this whole zone, and the
2:20floor. We couldn't even see the
2:22overnight floor. So, under first print,
2:25we got a new floor, new ceiling, and
2:28then we tanked off the open.
2:32And then down here when we caught the
2:35short average and actually came back up,
2:39that's where like everyone was like,
2:41well, is this a pullback or a reversion?
2:43Cuz a lot of times when we bottom out,
2:45there'll be a buyback moment where the
2:47sellers are closing their positions and
2:48it creates a buying frenzy, but then it
2:50can continue down. So, you know, nobody
2:53knew what was happening. We could only I
2:55guess I guess I could like screenshot
2:57this this way. Um, in my screenshots,
3:02sorry.
3:07So, when we look at it this way,
3:10we can't see what's unfolding, right?
3:18Like this.
3:24So, there's the open. We're here. You
3:27know, is this going to be a buyback or
3:29is this going to be a full-on reversion?
3:30Well, we got pretty far back. I mean, it
3:33went, you know, from 30 to like 80, like
3:3650 points, but then it turned around and
3:39went down again. So, but it only got
3:41like halfway down and then it took off
3:43and ended up with a bullish, you know,
3:45pattern for the rest of the day. So when
3:48we got up here, you know, people were
3:50like, "Well, are we going to get the
3:51ceiling and turn around?" So the the few
3:54things that we want to check is what was
3:56happening at 10:00 to tell us that we
3:59were turning around. What was happening
4:02at 11:00 to tell us we were going back
4:04down and what was happening at roughly
4:0811:30. So we're just going to check all
4:10these time points. And then over here,
4:13how would we know? We're not going into
4:15positive exposure. How would we know?
4:17We're just going to track along the
4:19ceiling sideways to the close. And then
4:21of course another push up. But here is
4:24the consolidation. And this is where
4:26everybody was getting antsy between 2:00
4:29and basically um 4:00 like what's
4:32happening next? What's happening next?
4:34Cuz like prime point for a reversion,
4:37right? Kaplon session. But there was
4:40nothing indicating here that we were
4:42going to go down. So that's what I
4:44wanted to um review with you guys. So
4:47we'll look at that real quick.
4:52Um
4:54so in the morning
4:57we had
4:59we had our OM
5:02showing us.
5:05Let me see if I can get this smaller.
5:09So over here at you know um 10 o'clock
5:15we can see that from open to
5:19this is Q's and this is spy to about
5:2310:00 the bears were in control in here
5:26open to about 10:00 bears are in
5:29control. Going to blow this up really
5:31big cuz by the end of the day it's long
5:34but in the morning it's big. So, we're
5:37seeing this green line on top. That's
5:40bears. Green is bears. The bulls were
5:43trying and they crisscrossed here around
5:4610:30.
5:48So, that's this.
5:51There's your 10:30. So, now the bulls
5:54are in charge. We're going up. And over
5:57here, let's QQQ. We're not looking at
5:59that right now. We're looking at spy.
6:02So, bulls are in charge. We're going up.
6:05and then it crosses again. This is an
6:07indication of a problem. Well, up here
6:10when we're on the PML, we were trying to
6:12cross the PML when the bear when the
6:14bulls took over and we got across the
6:16PML, but we didn't quite go up anymore.
6:19There was no more upwards rate of
6:22change. There was no more velocity. It
6:24was just tracking sideways. It was I
6:27call this like a wobble. And where I see
6:29this
6:32is on the data warehouse. Let me grab
6:34that one [clears throat]
6:36for spy like all these notes.
6:42So when I start seeing us wobble like
6:43this, I want to look at the data
6:45warehouse
6:47numbers and this is around 10:30. So we
6:52go to 10:30 and
6:55the numbers coming out of the data
6:57warehouse are reflected in all of these
6:59drawings. So I'm just showing you where
7:01you know we say trust the data, trust
7:03these red lines and trust
7:06>> you're trusting the data that's behind
7:07it, right? So at 10:30
7:12our ratio is going from like 0.5 to 6.7
7:161. It's going up.
7:18>> It's not going up by a lot. It's like 1
7:20to 0.98, 15 to 14, 9 to 4. It's just
7:26wobbling. That's this wobble that we're
7:28seeing here. So, it's like it's up, it's
7:30down, it's up, it's down, but not by a
7:32lot. Not by a large increment at all.
7:35And then over here, we So, here we cross
7:38the PML, we go down again. So, on the
7:42milk chart, that's this part. And now
7:44we're at roughly
7:4811, we'll say 11:15, 11:30.
7:53Back up. Bear with me. I'm not hi-tech.
7:58Uh
8:04so 11:15 to 11:30
8:08is here and we're starting to come down
8:10into the PML again which tells us what
8:12we're either going to bounce off the PML
8:14or we're going to go down because price
8:17does not want to stay at the PML and if
8:19it does we're chopping. So we still
8:22don't know all of this is about to
8:23happen. So at 11:15
8:26we're watching the rate of change. It's
8:29gone from like 1.3 to 1.0 1.3 1.0 1.0
8:34drops down to8. So now we're below
8:37prices below PML. You can look over here
8:40and actually see that we dropped from
8:43being 74 cents. Let me blow this up so
8:46you guys can see it really good.
8:48That was 11:15. Whoops. Sorry.
8:51um 11:15.
8:54This is your PML. This is your price.
8:57We're $1.48
9:00above PML. Then we go below PML. Now
9:03we're 222 below PML. This is telling you
9:06we're going below PML. If you can watch
9:08these numbers, that's going to help you.
9:11Zero is at PML.
9:14So now we're back at PML and it's 11:45.
9:18But over here, as we're going below PML,
9:21these numbers are decreasing. We're
9:23going from 1.07 to 1.05 to8 and then it
9:28comes back up to 1 point, sorry, 1.09.
9:32This is the line in the sand. 1138.
9:36We're stuck at PML. And now we start
9:39increasing and we're going above PML by
9:4274 cents, 2 and a4, $3. Now we're almost
9:46$4 above the PML. This is how you know
9:49this is a reversion. This is not a
9:51wobble. A wobble is when it was down
9:54here going like, you know, we're a
9:56dollar away. We're 75 cents away. We're,
10:00you know, well, this one we were pretty
10:02far away, but um
10:05back to this.
10:08Oh, wait. What time [clears throat] was
10:09that?
10:12Trying to be precise here. So right here
10:14we're at PML at 11:43 and then it takes
10:17off. So let's look at 11:43 right about
10:21here. Not only are we at PML, we're at a
10:24side exit on the vector.
10:27That's two confluences. Now we're over
10:30here and we've got 11:43. We're coming
10:34out of the PML above confluence.
10:36Confluence over here 11:43.
10:40the bears or sorry the bulls have not
10:43only taken off the bears are dropping
10:45out. They're not even chasing like it's
10:48just falling out. So this is a very
10:51strong influence and the the rate I say
10:54the rate of change increased from like
10:56you know 0 to 1 to 2 to three. Those are
11:00huge rate of change. Think of it as
11:02velocity or speed. Right on here you're
11:05going to see it as an angle. it's going
11:07to be going, you know, straight up,
11:09straight up, not straight up, but you
11:11know, like a 45 degree angle. Whereas
11:14over here, we're barely moving along and
11:17this angle is like barely moving along.
11:20So that's the difference between chop
11:22and at true move. So I hope that helps.
11:26And then here, once we had it, we stayed
11:29expanded off the vector the whole time.
11:31The vector had come down to check the
11:34low. um right here. And when when the
11:39vector does that and it turns around and
11:41runs straight back up, that's usually
11:43very bullish. That's just something you
11:46get from seeing it happen a million
11:47times. Um like for example over here,
11:51there's your low. The vector came down
11:53to check it and it didn't quite run up
11:56as you know aggressively. It went up a
12:00little and this tends to make like a
12:03little snow cone cap and went sideways.
12:05But this one, this one went up,
12:09adjusted, and and just kept going up.
12:12And we we like this pattern. There's
12:13like a stair step. It's wonky stairs,
12:16but it's more like a cliff. I mean, it's
12:18just going up. Whereas like over here,
12:21when you see that similar, you know,
12:23vector to um pattern, this vector didn't
12:27behave that way. It was not a perfect V
12:29like that. So when I saw this, this is
12:32like one of my favorite trades. By the
12:34way, when I see the Vector do this on a
12:365minute chart, I get really excited cuz
12:39I'm I'm tuned long. I love going long.
12:42And when this happens, it's almost
12:43always long. Worst case scenario, it's
12:46going to check. Price is going to come
12:48back and check the vector and then take
12:50off or fail and go the other way. But
12:53we're prepositioned for either way. So
12:56you know in hindsight or however you
13:00know we can we can see as it's unfolding
13:03that these things are setting up but
13:06when you use your other confluences
13:09um especially you know the data and then
13:13your om where did that go
13:17where did my go I lost my
13:22it is
13:24so you There was extension here. Not
13:28only was it the bulls were in charge,
13:32we reached the ceiling margin. So, we're
13:35in the ceiling margin. And I'll show you
13:36how to read that on the data, too. And
13:39then the the bears like they laid down.
13:42They just normally it's a battle.
13:44They're trying to come up and tangle,
13:46but they didn't. So when the pink line
13:48actually joins the red line, that's your
13:51like third form of confluence that we're
13:53bullish because now you've got both of
13:55these things working together, the bears
13:57have to get through both lines to get on
14:00top again. So for me, anecdotally
14:02speaking, just from seeing it a bunch of
14:04times, whereas like over here on Q's,
14:07you know, that pink line can still be
14:09resistive for whoever's on the bottom.
14:12you know, it would be the opposite if we
14:14were on a short day, but you know, pink
14:17never got to join red up here at the
14:19top. So, it was constantly chopping
14:23sideways for cues, but spy got to go to
14:27the ceiling and stay in that ceiling
14:29margin where you can see it's
14:30equidistant. That's about the $1 margin
14:33that um you know, we have for Spy, which
14:37ends up being like $10 on ES. So, I want
14:41to show you what that looks like um on
14:44here on the data. So, let me go pull up
14:49the other one.
14:53This is Okay. So, this is from
14:5611:30. This one's from like 2:00 on. So,
15:00this one ran to 2:45. But um
15:04so where you can kind of see it is like
15:07once we get into the ceiling margin,
15:10you can see that like we're $1.50 away,
15:14$149 away. I'm sorry, $1.50 away. Now
15:18we're 75 cents away. $150, 75, 75, 75,
15:2375, $150. So when I see this number go
15:26up, I'm like, well, are we getting
15:27closer to the ceiling for positive
15:29exposure or did they revise the ceiling
15:30up? And you look over here and you can
15:32see they revise the ceiling up.
15:36So it's not like we're going to get
15:37positive exposure yet because they keep
15:39moving the ceiling. So now they move it
15:42up. We're 75 cents away. And it just
15:44keeps going like that. And that distance
15:47stays steady even though the price is
15:49moving. It's not moving by a lot. And
15:52then we go back over here to the rate of
15:53change. And what we see is like it's
15:56just incrementally, you know, it's
15:58maintaining
16:00maintaining
16:02a little higher but maintaining
16:04wobbling. We're just wobbling along that
16:07ceiling with all these numbers. Not
16:09really doing a whole lot. Eventually, we
16:12got up in the fours when um this
16:16happened. We went from the difference
16:19between puts below and puts above. the
16:22difference was like around 2 million the
16:24whole time and it loaded into like 3 1/2
16:27million, which means orders were more
16:30new orders were coming in at 3:21 p.m.
16:34And that's that's a lot. That's
16:35significant. But anyways, um that's what
16:39made the ratio increase there as more
16:41orders got piled on. And this looks like
16:44this is where we might have gone into um
16:47positive exposure. But then you look and
16:50see they move the ceiling out of the
16:51way. So positive exposure in my in my
16:56experience it lasts more than 3 minutes,
16:58which this is only 3 minutes. So they
17:00moved the ceiling from 74709
17:03to 74823. More than a dollar, almost a
17:06dollar and a quarter. And we're still 75
17:08cents away. So, we were just chasing the
17:11ceiling all afternoon on that. So, I
17:13hope that helps explain with really bad
17:16drawings um what was going on and how we
17:20had the confluence to not expect a
17:23bigger upper move but not to expect a
17:26reversion. There was no coming down from
17:29this.
17:30The market makers do not want to have
17:33the exposure the other way. Um, I think
17:37I have I forgot to pull this. Hold on.
17:41I forgot to pull the um market maker
17:45landscape.
17:51Somebody have a raininess.
17:55Um, what time was this? That's a
17:57different day. Hang on.
18:01Shoot. I don't know if I can find it.
18:03I'm looking for the market maker
18:05landscape for Friday afternoon.
18:09It's somewhere
18:14my missing piece of the puzzle.
18:20Oh, also
18:24here's another example.
18:30in the morning. We were following chat
18:32and to be honest like if you're not sure
18:35what's going on follow the professional
18:37chat that's your other confluence. We
18:39posted this at 11:30 in the morning
18:41which is right before all that was
18:42happening. We were coiling pivot coiling
18:44pivot coiling pivot but the rate of
18:47change was just wobbling. So we knew
18:49like we were going to break one way or
18:51the other. So that was um just something
18:54that got posted.
18:56And then
19:01Um, we also had this going on. Um, this
19:05one's from 11:15.
19:08So, the bears, the bulls are in control
19:10now and they've got a lot of room left
19:12to go. Like, even if they only came to
19:15here, we still had a lot of room left to
19:17go. And that's when you see, you know,
19:19coming out of the PML and, you know,
19:22just looking at it on the larger time
19:25frame instead of just that blown up
19:27DMM1.
19:29And then let me see. I know everybody
19:31was talking about it and
19:34um yeah, I posted this. So these are
19:37some of the other confluences that we
19:40could have looked at. But
19:43so the fiveminute vector side exit then
19:45adjusting and rising with price
19:48obviously here. This is really bright.
19:50Sorry. Supportive stair steps. When you
19:52see stair steps and they're extended off
19:55the price like that, the price isn't
19:57even coming back to touch the vector. It
19:59doesn't even want to test it. It just
20:01wants to keep going. Um we were above
20:03the RGI. We marked the RGI for spy. Um,
20:07this is an ES chart. So, I just
20:09converted it or ES cuz ES was already
20:12moving that morning. So, I pulled the
20:14RGI for SPY and just did a conversion.
20:17Um, [clears throat] the overnight dead
20:18zone, you know, when we opened right
20:21before open, it was respecting that
20:23level here. We got resistance off the
20:26level. Finally, once we broke through,
20:28that's another sign that, you know,
20:30we're going to stay bullish because
20:32we're above the RGI or above the
20:34overnight dead zone. Um once we broke
20:37above the previous high of day, that's
20:40another confluence. It was in
20:42consolidation during that period of
20:44trying to get over the previous high of
20:46day. It was multiple attempts and then
20:48it broke through. And um the OM was
20:50bullish the whole time. We were above
20:52PML the whole time and those ratios were
20:55increasing. So hopefully this helps. Um,
21:00you know, on a day that, you know, we
21:02started out going down, but we could see
21:04the turnaround clearly on the OMM.
21:08You can see that turn around
21:10here and here. So, we're down now. We're
21:15going back up. We're down to here. And
21:21now see, even though the the um green
21:24was on top,
21:26this is important, too. If the green's
21:29on top, we're bearish, but we're not. It
21:31doesn't mean we're going to stay
21:32bearish. If you see the the bulls
21:35climbing at that kind of a rate, not
21:38just like squeaking along and trying to
21:40catch that was rising, and that's where
21:43you're going to see the ratio change.
21:45Um, where is it? Yeah, right. I'm
21:48[clears throat] sorry. It was this one.
21:49Sorry, that was Kik. They they were
21:52pretty much in sync. But yeah, so the
21:54bears are in control, but then the bulls
21:57just really almost went straight up here
22:00and went from here to here. So, you
22:04know, we look at the PML crossover, but
22:05we're also looking at this. Let me go
22:08back to [clears throat] um right where
22:11that happened. So, probably about 9:30,
22:1410:00.
22:17I'll do this all day until you guys say
22:19you get it cuz like I I live by this om
22:23stuff during the day intraday. We get
22:26all the charts ready at night or the day
22:28before that morning [snorts] but when
22:30we're in the market that we want to go
22:33with the flow. You don't want to fight
22:35the market. Um the trend is your friend,
22:37right?
22:39Um so that was like 10
22:4210:00.
22:46Here we were negative and then it went
22:49positive and it's still negative cuz the
22:52errors were still in control. But you
22:54can see that changing pretty quickly
22:57into a positive. So it went from 08 to
23:000.5. Oh no, there that was still low.
23:03What time is this? 10:30
23:05and then 7 1
23:09115 14.
23:14That was probably I think that was the
23:16first or second attempt. Yeah, that was
23:18just the first attempt and they tried to
23:20do it. But anyways, I just really like
23:23doing it that way. Um, could you explain
23:27what you would have liked to see in the
23:28numbers to see positive exposure Friday?
23:31Well, one thing is like if you're going
23:34to get positive exposure,
23:37anecdotally, they happen on Fridays. Um,
23:41it would be interesting to go back and
23:43see
23:45if that happened on Fridays. There's a
23:48picture that I have
23:50that I wanted to show you guys where we
23:52never break the ceiling or the floor
23:54until we actually break the ceiling or
23:56the floor. So, let me go grab that real
23:58quick. Um,
24:07I can find it. Yeah, here we go. This is
24:10spy. [clears throat] Yeah.
24:14So, if we were to look at a month of OM,
24:19this is SPY for the last, you know, 21
24:23sessions, which is a trading month. We
24:25don't break the ceiling. We don't break
24:27the floor. That's why everybody can sell
24:29spreads and feel good about it usually,
24:31cuz we're not going to break those. And
24:32usually, they're going to collapse
24:34inward. They're either going to be
24:36stable like here the ceiling was stable
24:39but the floor collapsed in here. They
24:41both kind of collapsed in a little from
24:43the start point and then you the next
24:46start point. So it's kind of nice to
24:48look at
24:50positive exposure does not happen every
24:52day. So please don't expect it every
24:54day. I need to go back in and mark this
24:58like where's the Fridays? [laughter]
25:00[snorts] And also I think we got
25:02positive exposure here
25:04and there was another one this one
25:08and at the top I don't know if we've had
25:10any this month to the top side.
25:12>> Hey user.
25:14>> Yeah.
25:15>> Where did you pull that month guide
25:16from?
25:17>> I I said pretty pleased to Rug Moose and
25:20he made it for me.
25:21>> Oh, okay. I was going to say because
25:23that neat I haven't I hadn't seen that
25:25before.
25:25>> I know. It's really cool. But I think in
25:27the future we'll be able to do stuff,
25:29you know, more stuff like this. It's
25:30just right now it's limited cuz, you
25:33know, everything's in development mode.
25:35There's so many cool updates and
25:37features coming. Um, but I just thought
25:40it would be a good teaching tool to show
25:43everybody, you know, it you don't see
25:46the green line coming out of this white
25:49zone. You just don't see it.
25:52>> Can you share that mention the chat?
25:53>> Yeah, I'll put it I'll put it in the
25:55chat. Yeah. So,
25:59um,
26:00so positive exposure in the numbers
26:03would be, let me put this in here.
26:08And like I said, this is just like
26:10something that one of the owners was
26:12sending us to use for teaching to show,
26:15you know, cuz it's hard when you're just
26:17looking at a week, you know, like this.
26:21That's not it. Sorry.
26:25Thanks. I'm going to end up killing my
26:27whole recording here on accident.
26:31Yeah, it's hard when we're looking at,
26:33you know, a week at a time to see a
26:36trend or evidence or data. Um, we can
26:40pull a whole range if we want to,
26:43but for the numbers,
26:46he was asking where do we see it in the
26:48numbers? What I would what I would look
26:50for in the numbers
26:53and just ignore these other drawings is
26:55up here where you see the PML disappear
26:58right here.
27:01So at 11:43 we we lost PML.
27:05Wait, no. Sorry, that's the wrong one.
27:08My bad.
27:11It's here.
27:12It's on Oh, shoot.
27:16I lost it. H
27:20I'm challenged. Sorry guys.
27:24Do not try this at home.
27:31Okay.
27:34So, what I'm looking for is
27:39Oh gosh, it's not going to let me draw
27:40on it.
27:46The trend is your friend and screenshot
27:48is my friend. Okay.
27:51So here where you see the PML price go
27:54to zero that's an indication that we
27:57might be in positive exposure. Here we
27:59lost it as well. This means the data is
28:02changing so fast there's no read. The
28:04exchange is like adjusting. And so when
28:07you when when I see this um when I see
28:12this happen, this is a not a very
28:14straight line.
28:17If these day zeros, I know we're going
28:20into positive exposure cuz it's lasting,
28:23right? But they revised the ceiling very
28:25very quickly um right then. So then I
28:30was like, okay, no, this isn't true
28:31positive exposure. They've got their new
28:33ceiling right here. were maintaining in
28:37the margin. But see how this number here
28:40went to $56.
28:43That's probably where we got the
28:44positive exposure cuz now the ceiling's
28:47not revising fast enough. And and so
28:50with this thing happening every 3
28:52minutes,
28:53it's gone. You know, we lost it. We
28:57didn't lose it. The market makers lost
28:59it. And then they finally come out with
29:01a new ceiling at like right at 4:00 and
29:04we're back to normal. Well, it was at
29:05357 actually.
29:09So, can you see that? It's very And I'll
29:11screenshot this part.
29:15So, I'm looking at the distance from the
29:17ceiling, which is getting closer and
29:20closer, and it goes to $56. That That's
29:24obviously not correct, right?
29:27So, that's where we get the the gap in
29:30the data and that's where we can see the
29:32positive exposure. It looked like it was
29:34happening here, but you know, we're
29:37watching the other forms of confluence.
29:39We're watching the chart. We're watching
29:40the OMM. And we were, you know, 75 cents
29:44away. Almost got it, but they revised it
29:48up. And they kept revising it up. It
29:50went from 23, 35, 53.
29:53They didn't revise it. This one, I don't
29:56know what's up with that number. 74823.
30:00They revised it up like a dollar and a
30:02quarter from here, but then up here it
30:04just it caught it. So,
30:08it was really close. 74871, 748.95.
30:12They ended up putting it even at the top
30:14at the end. They pushed it way out of
30:16the way. And maybe somebody else with
30:19more experience can explain that better
30:22than I can, like when that happens and
30:25why that happens and all of that. But,
30:28um, as far as I know as a user watching
30:31this, that's what I'm looking for with
30:33the numbers. If we lose PML, I am paying
30:37attention.
30:39Um, let me put that in the chat, too.
30:45Um,
30:46>> hey user.
30:46>> Yeah.
30:48Um, I got a couple of questions about
30:50the um, you know, how you're talking
30:52about like the confluences with um,
30:54Vector and OMM like
30:57>> Yeah, I think pull that.
30:59>> Yeah. Yeah. Um, so my question is like
31:04so on the OMM you can see that at I
31:08forget what time it was but I think it
31:09was like around 11:30 or something when
31:12you're seeing um like there's a
31:15significant rate of change on the um OMM
31:19um and then you had the side exit also
31:22on Milk's ES chart. Um, what do you
31:27like? Are you waiting for both of those
31:29signals to happen to enter or are you
31:32using the vector primarily to enter?
31:34Like how would you know when is a like a
31:38safe place to get into this trade while
31:41like also mitigating risk or having a
31:44decent amount of risk?
31:47>> Okay. [clears throat] You mean like me
31:49personally
31:50>> or like you know
31:50>> what was I watching? Yeah, just in
31:53general like I mean I know everybody
31:54trades it like kind of different but
31:56okay like yeah
31:57>> I mean I'm not gonna teach you guys how
31:59to trade per se because everybody's risk
32:01and all that is different. That said I
32:03can show you my setup and what I was
32:06looking at that day.
32:07>> Okay. So I just did a screenshot for
32:09this because we got the OMM we got this
32:12um we already talked about where the
32:14confluences are,
32:15>> right?
32:15>> Um I'll go ahead and just circle them.
32:19>> Uh I don't know what color to use. We
32:21we'll use um we use the blue cuz it's
32:25easy. So we were looking at this this
32:29this
32:31we talked about that that is definitely
32:33confluence for me that shape happening
32:36like that. Um we talked about the PML
32:40crossovers. There was only really one
32:43big one, right? We talked about these
32:46guys and then they took over.
32:50So, I'll just circle it on Q's too real
32:52quick. Like that's a rejection. That's a
32:54PMO crossover. So, and then we talked
32:57about staying in that um margin like
33:00[clears throat] here how we maintained
33:02that distance from the ceiling. Even
33:04though the ceiling was revising up, we
33:06stayed equidistant the whole time. So,
33:08that's called like pinning to the
33:10ceiling, but you got to remember the
33:12ceiling's moving. So, it's not like
33:14we're we're going up, we're going to hit
33:15it. No, the ceiling move. pay attention
33:17to where the ceiling is because we never
33:19actually touched it. So, all of those
33:21things are going on in my head and the
33:24chart is looking like
33:28the chart's looking like this. So, um
33:31this is my chart, my messy chart. This
33:34is the clean version on SPY. This is the
33:37contract, the 746. This is the 74 uh 475
33:42put. So, I've got a call and a put on my
33:45screen at all times. Just like Russell,
33:47that's the best way to, you know, if you
33:50had no other tools, you just had your
33:52levels and your, you know, thinker swim
33:55or whatever. If you've got a call and a
33:57put, you're going to see the changes
34:01inversely where the call's going to
34:03follow the underlying, right? It's going
34:05to follow the same shape and the puts
34:08are going to be opposite. So when I see
34:11the put take off, I'm paying attention,
34:14right? And then over here at the same
34:17time, so this is like 10:00, 10:00 here,
34:21calls not doing well, not doing well,
34:24and then all of a sudden the call starts
34:26moving. Well, that's when the put
34:28started dropping. So, if I could like
34:31stretch these out to be like the same
34:34time, like almost like the same time
34:37width or whatever.
34:40Um, let me see if I can do it. Like
34:42they're they're the settings are
34:44different on these two charts cuz this
34:46is my normal regular chart. But anyways,
34:50I'm watching this as well. So when the
34:52put starts doing something like this
34:55where the perfect you know below vector
34:57and it's not even coming up to test it
35:00looking at the call
35:03and
35:04the call is doing the same thing but to
35:07the positive side. So that's yet another
35:10form of confluence that I'm just looking
35:12at while I'm watching the underlying. So
35:14we put this on a five minute chart just
35:16to make it smaller and easier to read.
35:20Nothing about this chart says we're
35:22going down below vector at any time
35:25soon. Maybe there was a test and there
35:27was a test. And this again, this is a
35:30contract, so it's not going to have the
35:31same angle as the underlying,
35:35but let me get back over here.
35:40So, when we got the side exit at 11:35,
35:43here's 11:35 on the call. We're getting
35:46basically a side exit and a green signal
35:49from vector. So confluence confluence in
35:53addition to all the other confluences we
35:55just talked about. And then at 11:35 on
35:58the put, it's still green, but it's
36:01going down. So it's like, okay, it's
36:03literally watching it fall while this is
36:06watching it go up. So, and it's just
36:09kind of like when you're driving down
36:10the road and your peripheral, you know,
36:12you don't turn your head to look at
36:14someone on a bicycle. You're watching
36:16them as you pass by and you see them in
36:19your rear view and you keep going, but
36:21you're maintaining your distance. That's
36:23this this is my peripheral vision. This
36:25thing is always on the chart while I'm
36:27looking at the underlying, while I'm
36:29looking at the levels, while I'm looking
36:31at the OMM and the data warehouse. So,
36:34it's kind of like air traffic control in
36:36here. I have like four monitors all over
36:38it. But, um, but that's what I
36:41personally am watching as well as the
36:44other stuff I showed. Um, where did it
36:47go?
36:49This
36:50all of those confluences
36:53and
36:55the OM.
36:57And you know again we can see each time
37:01we had the crossover that was when we
37:03had the change in the underlying right
37:06here.
37:0810:38 here's 1038.
37:11Whoops sorry. Here's 1038.
37:14And then
37:1611:35
37:19about right here. And the 1135 again, it
37:23doesn't have to be on top, but it can be
37:27a signal that it's changing its
37:29direction. And and this is really
37:31important cuz um it doesn't mean front
37:35run it or anything, but it means get
37:37ready cuz it could go. So we we can see
37:40that the bulls were trying and Russell's
37:43posting in the professional chat. Like I
37:44said, that's another confluence for me.
37:46I'll just pop in there and be like,
37:48"What are we talking about?" and he's
37:49like, "Yeah, they're trying." And by the
37:52time they're trying and winning, you
37:53know, the trade is already underway. So,
37:56if you had front ran it, it would be
37:58around this 1130
38:00point. But by the time you have your
38:03full confluence and we've broken above,
38:05it's 11:47ish.
38:09And above
38:11here, we are we're tangled and then it
38:13breaks loose around 11:47. So, where's
38:1611:47?
38:18right here. So, it was the tanglement.
38:22We broke above the pivot. That was
38:24Milk's pivot and we took off. So, it's
38:28just um and yeah, we initially took off,
38:31pulled back, and then took off. So,
38:32that's where the takeoff point was was
38:34the 11:50 a.m. right here when it when
38:40it went. I just really love this example
38:42from Friday cuz it had all the little
38:45textbook signs on it.
38:48And of course, you can do the inverse
38:50for a short day, but [laughter] I'll be
38:52honest, I'm terrible at going short. I'm
38:54trying still trying on that.
38:56[clears throat]
38:57Um, does that answer your question
38:59though of like what what you're looking
39:01at, you know, with your actual trade or
39:04with um cuz everybody was probably in
39:07puts because of this. So, that would be
39:10the time to derisk when it turns around,
39:12right? D-risk or leave a runner. But at
39:16the point that you see the call taking
39:17off like that, I'm getting out. I'm not
39:20I'm not waiting for some, you know,
39:23micro pullback. I'm seeing that we're
39:25we're taking off the other the other
39:27direction,
39:29especially on the OM cuz the OM I mean,
39:33we're all about the OM um
39:36lately with really trying to help people
39:39understand how to read it. But all that
39:41data I showed you on the chart, that's
39:43what's behind us. And it's just such an
39:45easy way to see who's in control.
39:48So, um, for me, this is really nice. I
39:52stream this on an iPad on the table next
39:55to me, so it just runs all day on its
39:57own screen. It's a small screen, but
39:59it's it's enough. It's it's great that
40:02it's live.
40:05>> Um,
40:06>> yeah, thanks user. Um, you're welcome.
40:08>> Appreciate that. Uh I had one more
40:10question if you don't mind.
40:11>> Sure.
40:12>> Um so on the OMM you said like you're
40:18watching for a uh significant rate of
40:21change. Um like what is there like do
40:26you look for like a a specific like
40:28quantity like over.3
40:31is a significant move or like 04.5 what
40:35exactly is a significant move or is it
40:37like more relative to what's going on
40:40that day? So like I know you said so at
40:42one point we were just trading at like
40:45all right it was like 2.6 six or
40:47something and it just kind of hung
40:48around there and then you had like a big
40:50pop and it went to like three and then
40:54four. So that's kind of confusing for
40:57me. Uh if you don't mind explaining it.
40:59>> Yeah. So the ratio is um the ratio can
41:04still be somewhat lower as long as it's
41:06positive and we can still be moving
41:08pretty good. I haven't seen a four day
41:11in a while that I remember, but we've
41:14been hitting the twos and threes. But it
41:16has more to do with um you know the puts
41:19above and puts below is where the ratio
41:21comes from. I think I saved
41:25Let me see if I saved it.
41:28Yeah, I know where it is. We were doing
41:31some stuff the other day. I have it
41:34[clears throat] here. Hanging on.
41:40Okay.
41:44I have the one for tomorrow, too. So,
41:46let me grab that.
41:50We have the overnight levels. So,
41:55left. Right. So, when we're looking at
41:58the rate of change on
42:01on, you know, and this is not this is
42:05not Friday. This is just an old one on
42:08the market maker landscape. You can see
42:10the puts below and the puts above. And
42:12we're just taking that number and
42:14dividing it. And so you can still have a
42:18decent move as long as you're positive.
42:21But the thing that I'm looking at is are
42:23we going from 1.2 to 2.4? Are we going
42:27from 1.2 to 1.4? Like this is slower.
42:31It's just not changing that much. So the
42:34way that I kind of look at the second
42:36part of it is the difference of the
42:38bubble bear is it just subtracts these
42:41two numbers. And then I also like to see
42:44are we at a million or we at are we
42:47still in the thousands. So the other day
42:50when we started out I think QQQ was like
42:54um 400,000 to 800,000. I'm like
42:58whoop-dedoo that's not fun to trade.
43:00That's like that's barely anybody even
43:03doing anything. And then by the end of
43:05the day, these numbers are in the two
43:06millions and three millions. And the
43:08difference is usually, you know, around
43:11a million or less. But when those
43:13numbers start turning to fours, it's
43:15very significant. Um, let me see if I
43:18can find. Yeah, I can find it. Um, just
43:22give me a second. It's going to be here.
43:26So if you see the difference in the
43:28millions of the difference of these two
43:30numbers, it's 2 million, 2.8 million.
43:35There's 4 million contracts down here.
43:37Whereas like in the morning there was
43:39only um 800,000 on top and 400,000 on
43:42the bottom and that much more trading
43:44going on. But we're looking at the
43:46ratio. So if incrementally it's not
43:49changing that much, that's fine. But I
43:51do notice that the difference, this
43:54number is usually increasing when we're
43:57starting to see the fours and the threes
43:59and the twos. Very, very bullish. Then
44:01you're like, well, it happens when we're
44:02bearish. You can only go from one to
44:04zero. So, it is harder to read on the
44:07bottom cuz the rate of change on the
44:09bottom is going to be, you know, it's
44:11not going to grow exponentially like
44:13that. It's it's just going to be
44:15negative. Um, you know, well, it's not
44:18going to be negative. this number will
44:20be um positive, but it'll be between 1
44:23and zero. So, you kind of have to look
44:25at this number, the difference to see
44:28how negative we really are, if that
44:31makes sense. [snorts] Let me see if I
44:33can find
44:35Yeah, it should be here. It should be
44:37here from the other day. I might have to
44:39use Q's for the example, though. Um just
44:42cuz that's readily available and I
44:44didn't draw all over it. Let me see if I
44:46can find Yeah, here we go. So, if you
44:49look down here where we went negative
44:52and we're in the zeros, this is the
44:54bearish cycle. It went from 77,000
44:57contracts. So, we had only Whoops. Only
45:00200,000 contracts to begin with against
45:03276,000 contracts. The difference was
45:0677,000 contracts. Not a big deal. But
45:10later here, we're negative again.
45:16It's um 200,000 is the difference, but
45:20we're up to millions of contracts
45:22already. We got 1.3 million on one side
45:24and 1.5 million on the other side. So
45:28looking at this number tells me what you
45:30know how how strong it is when we're
45:33negative cuz just the fact that it's
45:35below zero, it it's incrementally
45:38smaller. I guess I don't really know how
45:40to explain that. But you can see here
45:42we're 200,000 away. um I mean difference
45:46here it's only 16,000 so it's kind of in
45:49balance and you look and there's 98 98
45:52is pretty much in balance so we were
45:54wobbling through this whole zone but
45:57that's that's how I read it and like up
46:00here where 677,000
46:03is the difference
46:05is now we're moving but on a negative
46:07day you'll see this number you know
46:10increasing
46:11very strongly negative but this number
46:13might not change as much because it's
46:15zero to one.
46:17Does that make sense?
46:20>> Yep. Yeah,
46:21>> that answer the question. Okay,
46:23>> thanks.
46:24>> Yeah, I really really like looking at
46:26this when I'm not sure and and just
46:29like, you know, it takes time on the
46:31charts and time in the system. You don't
46:34have to master the system right away to
46:36be able to use it. If if you can get
46:38good at reading the OMM,
46:40this is tradable. One of the things that
46:43you know Russell was showing
46:46just recently
46:48is you know this PML crossover is its
46:51own trade. You can trade this. You know
46:54every time we are at PML the market
46:56makers want to take price away from PML.
46:59And let me show these two together.
47:07this one.
47:12Yeah, this is for tomorrow. So, when
47:15we're at PML
47:18right there, their exposure for tomorrow
47:19is 323 million.
47:23Even if we go to the ceiling or the
47:24floor, the exposure is only going to be
47:2647 million or 21 million. So, either
47:29way, they're happy, right? But look how
47:32far we are to the ceiling. So, we're
47:34very close to the ceiling here.
47:37So, that tells me they're expecting,
47:40you know, to go to the ceiling tomorrow
47:42because we've got 841,000
47:46puts below and 400 above. That's like a
47:491:2 ratio. But again, I'm not super
47:52excited about it because that's still
47:54less than a million contracts. So, in my
47:58mind, it's like, yeah, well, let me see
47:59this at 11:00 when there's millions of
48:01contracts in play, and then we're really
48:03going to be able to determine the
48:05direction. So, that's why it's important
48:07to wait for the first print, unless you
48:09have other confluences telling you to
48:11get in a trade early cuz once they um
48:15execute all the orders at 9:30 and we
48:18get those first prints around 9:45, by
48:2110:00 the the trend is setting itself.
48:24All of these things are all these
48:25numbers are changing. And if it's still
48:28bullish, you're going to see like, you
48:30know, 1.2 million contracts here, not
48:34800,000, you know, and if it's more
48:37contracts below than above, we're going
48:39to the ceiling. It could take all day,
48:41but we are going to the ceiling. Now, if
48:44that were to flip and you know, first
48:46part comes in and this this number turns
48:49to the 800 and this is you know 800 and
48:53this is like uh 1.2 million, guess what?
48:56We're going down. But they don't want to
48:58be at the PML. So even if we were to go
49:00down into the PML like here, they don't
49:04want to spend a lot of time there.
49:05That's the worst spot for them for
49:07exposure. So, this was a failed floor
49:11test and I [clears throat] think um not
49:14not floor test, that's not the wrong way
49:15to say it. This was a failed attempt to
49:18take price to the floor. It reverted and
49:20went back up. But what I think happens,
49:23and this again is anecdotally speaking,
49:28it's counterintuitive
49:29because when prices go up like that, and
49:32we saw how many puts got piled on, and
49:35this is again for tomorrow. This is not
49:37the one from um Friday, but we saw the
49:42number of puts being bought as price was
49:45going up because a lot of traders think
49:49we've been high all day. We have to go
49:51down and they buy more puts and more
49:54puts. This number was like really high.
49:57So, if they're putting that many puts,
50:00you know,
50:02on we're going the other way. they're
50:05not going to pay those out. So, it's
50:08just counterintuitive to what you might
50:10think. You know, we're high, we must be
50:12going low. But when we're we're this
50:14bullish and the bears are down here,
50:18these ratios are so strong in a bullish
50:21manner. Yeah, maybe there's not a lot of
50:23room for upside and that's boring, but
50:25it's also telling you like unless we get
50:28positive exposure, we're not going much
50:31further up, but we're not coming down.
50:34It's a whole, you know, it's an impass.
50:38It's just we're stuck in the ceiling
50:39margin and you can relax, go mow your
50:42lawn, or you can wait for the positive
50:45exposure if it happens. And usually it's
50:48going to happen near the end of a
50:50session or if there's a news tweet, you
50:53know, it's going to take some kind of a
50:54push to push it the rest of the way
50:57through cuz, you know, they've got these
50:59things locked in. So, um just rambling
51:04at this point. Let me see. Um go through
51:07the chat.
51:09Um so, momentum, uh put the market maker
51:13and spread monster levels for spy and
51:16QQQ with conversions for ES and NQ.
51:19Thank you.
51:21Um
51:22let's see.
51:25You have previous examples of when the
51:27ceiling or floor did fail. My problem is
51:31the OMM shows me the move is continuing
51:34by the time I see the change to confirm
51:37the move has already happened enough
51:39that I don't want to chase.
51:42Yeah, I mean
51:44I think I see what you're saying. So,
51:47like for example here, you know the if
51:50you're just going by the OMM and you
51:53know that's why I look at the numbers
51:55too because they help me know like are
51:56we speeding up or slowing down but like
51:59here we have a PML crossover. So the
52:01trade would be you know let's target the
52:04ceiling cuz what happens when we cross
52:06PML market makers want to take it to the
52:08ceiling but you got to remember the
52:10ceiling's moving too. So it could be
52:12collapsing in it could be expanding up.
52:16So the idea would be then, well, how far
52:18is it from this point to the ceiling?
52:21Ceiling's at 746.
52:24Let's just say it's at 746. And we're
52:27price is at 74
52:31250. We'll just say it's that. What's
52:34halfway to 746? Like 744. Well, let's
52:37target 744. Let's not target the ceiling
52:40cuz we know the ceiling might come down.
52:41and then your call is sitting up here in
52:43no man's land and it's not coming back,
52:46which is why it's easy to sell, you
52:49know, spreads. But anyways, if you took
52:53this trade and you targeted halfway to
52:54the ceiling and we'll just say we chose
52:56um 7, I guess you just choose 745.
53:02It didn't make it. You know, it started
53:04here, didn't make it. That that'd be
53:07like halfway to the ceiling. So, we're
53:09out of that trade. We're now we're going
53:11to, you know,
53:14the um below the PML. So, take another
53:19attempt here. Target halfway to the
53:21floor. Still didn't make it. We're in
53:24chop. We're seeing that we're in chop
53:26because of this going on. So, now we're
53:28at this PML crossover. This one. And
53:32what's happening? Not only was the bulls
53:34coming up and the bears were going down
53:38instead of across and width and
53:40tangling, this was an angle down, this
53:43was an angle up. So if you could only
53:45see that um if you could only see this
53:49much of it, you would see that we went
53:52up and down in like two prints right
53:55there
53:57from this point to this point and this
53:58point to this point. And up here is when
54:00we made the crossing of the PML.
54:03So, are we targeting halfway to the
54:05ceiling? Yes. That was like what 7:44 at
54:09this point and we hit it. And then it
54:12went deeper in the money and it stayed
54:14in the money the rest of the day. So,
54:16that's just one way to use this and not
54:19feel like you're chasing cuz you know
54:21there's chasing and you're just jumping
54:23on board or you're actually looking at a
54:25level that you can use and you know it
54:30failed there it failed there but here
54:32halfway the ceiling is pretty easy
54:34target to shoot for. Um
54:37what happened over here if we targeted
54:39halfway to the ceiling would have been
54:41about here. Same thing it would have
54:43gone in the money about here.
54:46Either way, with this thing moving like
54:48that, even if you weren't in the money,
54:50your contract would still be reacting.
54:53And what I mean by that is when you see
54:56the contract getting a reaction like
54:58that,
55:00this one went from 9 cents or 13 cents,
55:06topped here, topped here, topped here.
55:11So, from 9 cents to 13 cents, it's still
55:14a decent trade. if you're in with size,
55:17whatever. But everybody here likes 100%.
55:20So,
55:22so we're going 9 cents to 57 or even if
55:25you waited and chased and took the next,
55:28you know, the next pullback and got in
55:31here, you'd be going from 42 to$1.28.
55:3542. If you held all afternoon, 287 is
55:39where that one maxed out. So there's
55:41other opportunities to get in without
55:43feeling like you're chasing. You don't
55:45have to take just the signal as the only
55:48signal because you know we're going to
55:50pull back. Meanwhile, we're watching
55:52this put. So at this point where we
55:54pulled back at 130, here's 130 on the
55:58put. The put's picking up. So I would
56:01wait until that put fell off again and
56:03then get in. So 130 here. That that
56:07would be, you know, a decent entry. But
56:10then you're dealing with all the chop,
56:11too. But you don't have to feel like
56:13you're chasing as long as you know what
56:15you're um what you're what you're
56:18looking for.
56:20So, there's multiple entries on these
56:23contracts if you're waiting for the
56:25pullbacks. I think um milk words it like
56:28the pops will get sold or the dips will
56:31get bought. That's what's going on here.
56:33You buy the dip and now you're in the
56:35trade. And you know, of course, going
56:37closer to the money and all of that is
56:39going to have a bigger effect on your
56:42leverage and what you're doing, but
56:45that's just one way to look at it. And
56:47then over here on the 1 minute,
56:50cuz I always have a 1 minute on the
56:52chart, too. So there's a 1 minute and a
56:56five minute.
56:57You know, these are other
57:00because the vector has come up so far
57:02and you can see it and it's level, you
57:06know, still level with what's going on
57:08over here. This dip would be okay to
57:10enter. So, you know, don't chase it up
57:13here. Don't chase it when you're
57:15extended. But each point is another
57:19chance to get in the trade. There's a
57:21like one, two, three, four. As long as
57:24we're getting those bounces, it it's not
57:26really chasing. Chasing is when we're
57:29halfway through the move and it's
57:31starting to pull back and you're just
57:32now getting in. Like wait for that dip.
57:35Wait for that confirmation that we've
57:37dipped and then then maybe that'll help
57:40you. Um and then be prepared with a stop
57:44if you're wrong.
57:46Yeah, I know what it feels like to chase
57:48cuz like sometimes I'll enter like here
57:50[laughter]
57:51and I'm like, "Oh no, we're already
57:52going down." But it's just a vector
57:54test. We almost always do this. I mean,
57:57hardly any trades look like this.
58:01Wait, where's my Yeah, hardly any trades
58:03look like that. You know, they're all
58:05looking up, down, up, down, up, down,
58:07up, down. You know, eventually we go up,
58:09but almost none of them go straight up
58:12like that.
58:17Um, let's see.
58:22We have pre Okay, we did that. Yeah. And
58:25as far as the previous example when
58:27we're showing this, um, I am going to
58:30see if there's a way I can figure out
58:33where and when we had positive exposure.
58:35could probably just look through the
58:36chat and figure out the dates and then
58:38we'll circle them and see what those
58:40charts, you know, what those days look
58:42like in comparison to the rest of the
58:44days, like where's that anomaly where
58:46we're seeing it. Was it on the top? Was
58:49it on the bottom? What else was going on
58:50that day? There's going to be something
58:51going on that day because it usually
58:53takes a catalyst of some kind. It
58:56doesn't have to be much. I mean, OPEX,
58:58you know, sometimes we get it during
59:00OPEX just because everything's so
59:03um you know, not average on OPEX place.
59:08I think June 16th was an opex. Um
59:13so, let's see. Um
59:17back through here
59:23when I had the data warehouse open to
59:25the OM ratio Friday I could not use the
59:27fractal graphs. Is that how it
59:29functions? Um generally yeah you have
59:32one tool open at a time. And so what I
59:35do is I have
59:38this thing happens when I'm streaming.
59:40So let me just shut off. I'll show you
59:42guys how I do it. But
59:45you do have to kind of lock in and not
59:47have to want to check other things while
59:49you're using it. But it's easy enough to
59:51get in and out.
59:53So, um,
59:57okay. I have to readjust this.
1:00:06So in the morning I like cycle through
1:00:08all my charts and then right before like
1:00:11the bell or right after the bell I'm
1:00:13pulling up um my one minute chart. I'm
1:00:17zooming in
1:00:20and this is just how I like to do it in
1:00:22trade. Um some people use a five minute.
1:00:25I make sure I can see you as much as I
1:00:28can see. But um then I pull up the data
1:00:32warehouse
1:00:35and I put it way over here in the
1:00:36corner.
1:00:39And we don't have any numbers right now
1:00:41because there is, you know, there's no
1:00:43numbers to be had. So I have the date
1:00:45pulled up from Friday.
1:00:50Here's Friday. And I only keep about
1:00:52that much of it in view.
1:00:56And I'll squeeze that over as far as I
1:00:58can. And I'll squeeze this over as far
1:00:59as I can cuz I want to be able to see as
1:01:02much as I can of the chart. So my timer
1:01:05is on. My chart's updating every 30
1:01:07seconds in the background without me
1:01:09touching it. And then my data warehouse
1:01:11is running in the foreground. So I'm
1:01:13able to watch these numbers.
1:01:16So we can kind of see like, you know,
1:01:18chop chop chop chop chop. Then we came
1:01:20out the top and then we ran up and then
1:01:22we ran down. So those numbers should
1:01:25still be on here from Friday.
1:01:321 minute 3:45.
1:01:37It's probably about 1,2
1:01:40about here.
1:01:42Oh. Oh, and then the other thing I do, I
1:01:44did this Friday anyway. I don't do this
1:01:46all the time, but I'll click the linear
1:01:48chart, too, cuz when we're chopping like
1:01:51this, I like to see where we are in
1:01:53relation to the vector. And the nice
1:01:55thing that happens when you're using the
1:01:57uh linear chart in the system, it gives
1:01:59you yellow when we're in the golden
1:02:01zone. So every time we go in the golden
1:02:03zone, this linear chart turns yellow.
1:02:06And so I'll use that sometimes if if I'm
1:02:10getting confused like where are we at?
1:02:12And then I can see um both.
1:02:19But sometimes depending on the wave
1:02:21time, this will be on top of this so
1:02:24badly that it's hard to see. So then I
1:02:28don't use it. And you can, you know,
1:02:30switch it to 5 minute if you like the 5
1:02:33minute better. But see how the 5 minute,
1:02:35this one's overlapping, but over here it
1:02:38wasn't. So, it's just something that,
1:02:41you know, you can do it either or
1:02:44or um I I do rely on that a lot. So, I
1:02:50just keep it in the foreground.
1:02:53Um
1:02:57how do you chart buyer seller
1:02:59objectives? So the buyer seller
1:03:01objectives are actually coming from the
1:03:04milk chart and milk uses the motive wave
1:03:08system like he shows in the chat. And so
1:03:12for the anatomy of a milk chart, there's
1:03:15parts he's getting from fractal and
1:03:17there's parts he's getting from order
1:03:19flow. So the buyer seller objective is
1:03:22orderflow levels. So, I can just break
1:03:25down the anatomy of his chart real
1:03:27quick. So, when you guys are streaming,
1:03:29you know what you're looking at. And the
1:03:31parts that are proprietary are his order
1:03:33flow strategy. And that's the part that
1:03:36you know, there's no videos on it. Um,
1:03:39he he does a mentee program, but all the
1:03:42other components of the yellow box and
1:03:45the celium floor, there's videos and you
1:03:48can get it yourself. So basically um on
1:03:51the yellow box, you know, we've got the
1:03:54yellow box, the red box, the green box.
1:03:56This is derived from a wave 760 50 chart
1:04:00in the fractal system. So that's
1:04:02fractal. And then the IV walls, those
1:04:06are derived from the spread monster. So
1:04:08he drives the IV walls on a 4K monitor
1:04:12um very precisely. And that's getting
1:04:15done um with the fractal system as well.
1:04:19And then the overnight ceiling and
1:04:21floor. He's running the option analyzer
1:04:24tool in the fractal system. Getting the
1:04:26overnight like what we were just looking
1:04:29at. Um this and he's pulling the ceiling
1:04:33and the floor from there.
1:04:36And then throughout the day, he's
1:04:38updating the ceiling and the floor. And
1:04:40he's using the OMM for that cuz it's,
1:04:43you know, live updating. You don't have
1:04:44to like go run an extra market maker
1:04:47landscape unless you want to, but it's
1:04:49the same values. So, he's updating the
1:04:51ceiling and the floor after the first
1:04:53print about every half hour and he's
1:04:55using the OMM for that. And that's
1:04:57fractal system as well. And then over
1:04:59here we have the short average. And the
1:05:02short average is coming from the spread
1:05:04monster. And let me go grab one. I
1:05:08haven't run it yet for
1:05:11tomorrow.
1:05:12um
1:05:14been busy.
1:05:15See if I can find
1:05:19my goodness.
1:05:21I have it. Just give me a second. Okay,
1:05:25this isn't for tomorrow, but um we'll
1:05:28look at when for tomorrow. So, that
1:05:30short average and long average is coming
1:05:32off the spread monster right here. Short
1:05:34average, long average. And what where
1:05:37that number is coming from is it's
1:05:39taking the average cost or average price
1:05:42of the puts down here, the $1.65, and
1:05:46adding it to the where we closed the
1:05:48last price. And then the long average is
1:05:50coming from the average price of the
1:05:52calls being added to the last price over
1:05:55here. So that gives us our long average
1:05:57and short average.
1:05:59Again, this doesn't match this, I don't
1:06:01think. Oh yeah, I ran this midday
1:06:04actually. 731. So when you see a purple
1:06:08line, that's where price actually
1:06:09occurred. Um it's kind of neat that it
1:06:12was mining these levels from this band
1:06:14to this band. But anyways, um so that's
1:06:17where the long average, short average,
1:06:20and then the net dealer. I'll show you
1:06:23that, too. Oh, wrong one.
1:06:28I'm all over the place.
1:06:30See?
1:06:36Bear with me.
1:06:41Here we go.
1:06:43Dealer. Now, this one's for QQQ, but you
1:06:47know, again, the anatomy is the same.
1:06:49Short average, long average, and here's
1:06:52net dealer. It's the letter C. It's a
1:06:55sweet spot where the market makers
1:06:57expect to make the most money and it can
1:07:00be used as a target. More times than
1:07:02not, we're going to hit it at some
1:07:04point, but um
1:07:08that's that's where that number is
1:07:09coming from. And he's got that marked
1:07:12out here. And we did hit it one, two,
1:07:15three times, you know, before we took
1:07:17off and headed for the ceiling.
1:07:20And these things are derived the day
1:07:22before, you know, after market close.
1:07:25These things, the ceiling moving, um,
1:07:29the OMM, that's all being derived in
1:07:32real time as the market's moving. So, we
1:07:34get like our map and then we start
1:07:37driving the car. So, you have to look at
1:07:39it like you can't marry these numbers
1:07:41and expect them to hit all the time
1:07:44because things change as the market
1:07:47changes throughout the day. But they're
1:07:49still there as very big levels, very
1:07:52relevant levels. Um, like nothing's 100%
1:07:57or we'd all be rich.
1:07:59Um,
1:08:01so yeah, so the buyer and seller
1:08:03objectives, RTH gap, um, seller
1:08:07positioning, non-fair value, all of
1:08:09these zones are coming out of his order
1:08:12flow system. And those aren't anything I
1:08:16can really
1:08:17discuss. Over here on the right, this
1:08:20is, of course, you know, sell pressure,
1:08:23buy pressure, you know, buyers and
1:08:25sellers. Um over here we talk about
1:08:29single prints all the time. Single
1:08:31prints are just where you know you can
1:08:32see how fast price went through this
1:08:34zone. It went through here really fast.
1:08:37Um it means it went through another
1:08:40point way over here and created single
1:08:42prints. So when we see these purple
1:08:43boxes, they come and go and they're
1:08:46areas of very little resistance usually,
1:08:49but sometimes we bounce on them,
1:08:51sometimes they eat them up. So, it just,
1:08:53you know, but when they show up, it is
1:08:55it is interesting to keep an eye on
1:08:57these. I do like the single print trade
1:08:59where I can see if we're coming into it,
1:09:02we're probably going to clean them up,
1:09:04you know, but that's that's something
1:09:05that we talk about in chat all the time
1:09:07in professional chat when it's
1:09:09happening. A lot of people are pointing
1:09:11that out. But yeah, so that's the basic
1:09:14anatomy of a milk chart and um how we
1:09:17use the fractal data with his order flow
1:09:21data to build a bigger picture. Um he's
1:09:26an orderflow trader and he trades mainly
1:09:28ES for anybody who's new and doesn't
1:09:30know. But um yeah, so you can take your
1:09:33existing trading system and also pair it
1:09:37with these levels from the fractal
1:09:39system and see how you do cuz you know
1:09:42it's not like there's one right way to
1:09:44do things. There's a lot of right ways
1:09:45to trade. But layering the uh ceiling
1:09:48the floor into your trading and where
1:09:50those market makers want to keep price,
1:09:53that's going to help a lot no matter
1:09:55what system you're using. the
1:09:57institutional side of trading
1:10:00um and knowing where those guys are
1:10:02going is very very helpful. And then of
1:10:05course we have the fractal chart which
1:10:07just levels out all the noise of the
1:10:08market. So if we turn it over to linear
1:10:13oops
1:10:16this is my favorite part. So we're going
1:10:19up but we're pulling back. We're pulling
1:10:21back. We're pulling back. you know,
1:10:22we're definitely we're on an uptrend,
1:10:25but when you put it on a fractal chart
1:10:30now, it's like we're in an upcycle.
1:10:32Well, these are longer upcycles than
1:10:34these down cycles. So, by about here,
1:10:37we're seeing another down cycle, but
1:10:39we're not expecting it to, you know,
1:10:41these are pullbacks. So, this is the
1:10:44trend or continuations. These are little
1:10:46pullbacks. So each time that we were
1:10:48pulling back, I was noticing like we
1:10:50haven't even left the savage box. We
1:10:53haven't even left it. So every time we
1:10:56were pulling back a little and I was
1:10:58looking at the OMM being bulls in
1:11:01control and looking at the values, not
1:11:04really fluctuating too much, you know,
1:11:06it just made me think, okay, we're we're
1:11:08still doing more upside and each one of
1:11:10those legs up was here. These are the up
1:11:12cycles. These are the down cycles. So,
1:11:15it's kind of nice that, you know, this
1:11:18is another confluence that we were long.
1:11:21We just really didn't have anything even
1:11:23trying to come out of this average box
1:11:24for a reversion. [clears throat]
1:11:28I was definitely looking at that, too. I
1:11:30think I posted it. I'm like, we're just
1:11:32wobbling around the pivot.
1:11:34But, um, but yeah, once we get maxed out
1:11:37on the, uh, ceiling and we're within
1:11:40that margin, it it's a lot to get out of
1:11:43that zone. So the three options are one
1:11:47reversion but you have to have the other
1:11:49confluences to support that. Um two
1:11:53positive exposure we break the ceiling
1:11:55but again you have to have the other
1:11:57confluences to support that or the third
1:12:01option is we stay within the ceiling
1:12:03margin and we track sideways the rest of
1:12:05the session. That's kind of what
1:12:07happened till the very very end when it
1:12:08dropped out like after MOC. This is the
1:12:11final few minutes of the day.
1:12:14Um, oh, the FOMC chart.
1:12:20Yeah. July 29th. Okay. Does the chart
1:12:24automatically update every 30 seconds?
1:12:26Oh, yeah. So, the timer for the um
1:12:31my chart,
1:12:33there's good things and bad things about
1:12:35it. Um, I think Russell's going to be
1:12:37adding like a toggle switch soon in one
1:12:40of the next updates so that you can turn
1:12:42it on and off. Easier than doing it this
1:12:45way. But you go into the hot keys and
1:12:48you have to choose
1:12:50event 60-second timer. Actually going to
1:12:54turn mine off um cuz when we do this I
1:12:56got to turn it off and then Monday
1:12:58morning I always forget to turn it back
1:12:59on. And then you would say reopen
1:13:01fractal graph with no control
1:13:03adjustments.
1:13:04And I used to use a 60-second timer. And
1:13:07then I saw somebody, I forget who it
1:13:10was, using both. So, it updates every 30
1:13:13seconds except for every third rotation
1:13:15it's a minute. So, I have to wait a
1:13:17minute like every third rotation. So,
1:13:18it's not too bad. And it just updates.
1:13:21Um, so for live trading for me, I just
1:13:24have this on another screen watching it
1:13:26the whole time.
1:13:29Um,
1:13:31we're going to look at the FOMC thing in
1:13:33a minute. Um does the turn okay is there
1:13:36a way to make the data warehouse auto
1:13:38refresh? No, you do have to demand it.
1:13:41But my workound for that you know for
1:13:45ease of use or efficiency is as I was
1:13:50explaining I just keep it in the
1:13:51foreground and instead of going like
1:13:54rightclick volatility
1:13:57om and then run and then run and run to
1:14:02get it. I'm just I've got them both
1:14:05pinned up here with like a 0000 in the
1:14:08front. So they're at the top and I'm
1:14:09just like click there's Q's there's spy
1:14:13there's cues there's spy and anytime I
1:14:16look over there I just click it cuz I
1:14:18don't need it to run when I'm not
1:14:20looking. So it it's kind of like not it
1:14:23doesn't bother me. But to have to do it
1:14:26like this or click run or switch them
1:14:28out and load them that would be a
1:14:31problem. So the way you do this is
1:14:34um and this is for any of the queries
1:14:36that you want to save. You rightclick
1:14:40come down to volatility queries OMM
1:14:43ratio. By default I think it's on QQQ.
1:14:47You click run and then you can come in
1:14:49here and just change the um ticker to
1:14:53whatever ticker you want. And I mean it
1:14:55change it to Nvidia, change it to
1:14:58Microsoft. Like use this. It's really
1:15:00good. And then um up here you would just
1:15:03type you know for me I put a bunch of
1:15:05zeros in front so it would come up to
1:15:07the top
1:15:09but you can just type whatever you want
1:15:11there. So like um you know spy omn
1:15:15whatever you want to call it. And then
1:15:17once you get that typed you say save and
1:15:20it'll populate over there on the left.
1:15:23Once it's populated on the left,
1:15:26best practice, I always clear my window
1:15:28so I don't actually write over it. And
1:15:30then all you have to do is double click
1:15:32and it'll run. So all these queries will
1:15:34just run. Um here's my end of day. You
1:15:37know, I run that to get those end of day
1:15:40adjustments.
1:15:41You know,
1:15:43it's it's fast. So it doesn't bother me
1:15:45that it doesn't automatically update.
1:15:48Um,
1:15:51so
1:15:54are you saying that you can have the OM
1:15:55memory show open and have five? Yes.
1:15:58Yes. So, Mount Kenny. Yeah. Just like
1:16:01what I showed and um that's how I do it.
1:16:05And then of course you just close it if
1:16:07you need to go run different charts, you
1:16:09know, and then you come back and open it
1:16:11again. And then Alex is saying, is it
1:16:14possible for price to coil PML until the
1:16:17end of a session like in a box or price
1:16:20go up or down one way or the other? Um,
1:16:23so we can look at that. Let's just look
1:16:26at the weekly one.
1:16:28It was here.
1:16:30So this is the one for the whole week.
1:16:34This is Friday. So last Friday to
1:16:39uh 11:00 in the morning at the current
1:16:41Friday. So when price is wrapped around
1:16:43the PML, it can coil it, but sometimes
1:16:47it'll coil through the rest of the
1:16:48session and it looks like a braid
1:16:51almost. Um it happened. Hey, did it
1:16:55happen?
1:16:57Here it's starting to do that where
1:16:59it's, you know, they're switching
1:17:01positions and up here you're seeing the
1:17:03PML switching positions.
1:17:06I don't have a picture of the one for I
1:17:10think Thursday.
1:17:12And both of these looked like someone
1:17:14had just braided the lines and we were
1:17:17just tracking sideways the whole time. I
1:17:19I think it was Thursday. Was it
1:17:22Thursday?
1:17:24I forget what day it was.
1:17:27Oh, I can just look. So, this is
1:17:29Thursday where we were stuck here.
1:17:33We're stuck here. Maybe it was Thursday.
1:17:36If anybody has a closeup of the DMM, you
1:17:40know, which is the daily chart, but you
1:17:42would have had to have the OMM on screen
1:17:45to be able to get that picture.
1:17:48Um,
1:17:50yeah. So, the you know, but when you see
1:17:53it crisscrossing like that, and these
1:17:55are price lines, by the way. Um,
1:18:00these are price. This is the price. So,
1:18:03if you see that we haven't even left
1:18:04this zone, that's your box. You know,
1:18:07the PML's like stuck here. Um price can
1:18:09get stuck. Um it's easy to figure out
1:18:12these numbers, you know, when you're
1:18:15trying to figure out, you know, are we
1:18:17rangebound? What's going on?
1:18:22I'm going crazy with my thing here.
1:18:25Sorry. Um
1:18:29after the call. Yeah, I'll save as much
1:18:32stuff as I can for um
1:18:36from the chat. It's hard to do it at the
1:18:38same time. So, going back to Voldemort's
1:18:41question for the FOMC.
1:18:50So, July 29th,
1:18:54that would be
1:18:56Did I just get rid of it? Yeah,
1:18:59I think it's here. So, July 29th was No,
1:19:03that's the daily one. I have to go back
1:19:07and get it, guys. Hang on a second.
1:19:11Um,
1:19:14I don't know that I have it. Oh, wait.
1:19:17We can just grab it. So, if you just
1:19:18need a week and it the week's not over
1:19:21yet, you can just go to the moose spot
1:19:23and get it. I'll grab the win for the
1:19:27week. We can look at the FOMC day. It
1:19:30was Wednesday.
1:19:35All right. So, Wednesday starts here.
1:19:48Yeah. So, that's going to be a good
1:19:50example to look at the rate of change.
1:19:52We can do that. Yeah, let's do that. Um,
1:19:58see,
1:20:06I was sister trying to read these other
1:20:08notes. Okay. And then for anybody who
1:20:11joined late, um, we haven't been
1:20:13recording the Sunday sessions, but we're
1:20:15going to start recording them now.
1:20:16They're still going to be informal.
1:20:18It'll be unlisted link that we just put
1:20:22in the um server that you guys can
1:20:24access it if you want to. And I still
1:20:27encourage everybody to talk like you
1:20:29normally do cuz um that's what this is
1:20:33for, for us to help each other and
1:20:34stuff. Um we're not going to be blasting
1:20:37it on YouTube or editing it or making it
1:20:40fancy or anything like that. So if
1:20:43anybody wants to talk, please do. Um,
1:20:45[clears throat]
1:20:46so FMC was here. We want the rate of
1:20:49change. Let me go grab it.
1:20:52July 29th.
1:20:54So I do have the query where we can pick
1:20:56the date.
1:20:58So we'll put in the date for
1:21:02spy. Double click it, load it,
1:21:07and change the date to the 29th.
1:21:14Save it.
1:21:18Double click it.
1:21:20Okay. So, now we're on the 29th.
1:21:23And what time of day did that happen?
1:21:27Cuz I can't show the whole thing. The
1:21:29whole, you know, there's 102 results
1:21:32here. So, um,
1:21:3729th
1:21:39that crossover would have happened
1:21:41probably about here. Yeah. So, what time
1:21:43was that?
1:21:45That's the whole day. Probably
1:21:49down here
1:21:52about halfway through the session
1:21:5929th
1:22:03Wednesday.
1:22:05So
1:22:07that would be 12:15
1:22:10to
1:22:122:45. And then the other one from 2:45
1:22:15to close. That's where we'll look.
1:22:20So 12:15 to 2:45.
1:22:23I think I can squeeze that on here.
1:22:30Yeah, we can squeeze it on here.
1:22:45So this is the day that we're looking
1:22:47at. I'll just maximize this chart.
1:22:54back on our five minute.
1:23:03It's nice and big.
1:23:08Push it over a little bit so we have
1:23:10room. And then
1:23:13our data warehouse
1:23:17ready to change. and our om.
1:23:24All right.
1:23:26So, the date in question
1:23:31and say FOMC.
1:23:37You know what's going to happen next?
1:23:38I'm going to screenshot this cuz it's
1:23:40making me crazy.
1:23:43Okay, hold on.
1:23:47That one's okay. All right, that one's
1:23:49okay. We need all three of these.
1:23:59All it takes is one good question and I
1:24:01just get like all messed up. Um,
1:24:09try again.
1:24:21our cones.
1:24:28All right. So, we [clears throat] got
1:24:30our OMM for we got our OM data from July
1:24:3429th. It starts at around 11:00 in the
1:24:37morning. And here's 11 in the morning.
1:24:40This is the big move we're talking about
1:24:42where we were at 12:15
1:24:45to 2:55 and from 2:55 p.m. through the
1:24:49close. So, let's just go mark it up and
1:24:51look. So, that was 12:15
1:24:57over here. We're at the bottom
1:25:01and we haven't crossed PML yet. So 12:15
1:25:04is here.
1:25:09I don't know what to do cuz if I do it
1:25:12with the other stuff, the highlighter
1:25:13doesn't work right. Um 12:15.
1:25:21And then the next point was the PML
1:25:23crossover at
1:25:28What time is that though?
1:25:31So one this is 3:00 probably late. Oh,
1:25:35we know where the panel crossover is.
1:25:37[laughter]
1:25:38I can show you where it was.
1:25:46All right. So let's dissect it. We got
1:25:49the PML crossover on Wednesday right
1:25:51here. Well, how do we know where the PML
1:25:54crossover was? The distance to the PML.
1:25:58So here's PML. Here's distance to PML.
1:26:01It goes to zero, right? Cuz we're at the
1:26:03PML and that was at 145.
1:26:08And then we continued up. And now the
1:26:10distance to the ceiling is the max of
1:26:13that point. So distance to the ceiling
1:26:16got to be um
1:26:21145. That's closer to the end of the
1:26:23day.
1:26:25Ceiling distance.
1:26:28But yeah, that got messed up. Here we
1:26:31go. 74 cents,
1:26:35$140. So, we got that close before we
1:26:38turned around again.
1:26:40So, that's one way to tell, you know,
1:26:42using the data. So, this is the distance
1:26:45from PML when we're down here, way down
1:26:48here, and we're turning around. So,
1:26:50without even looking at your ratios,
1:26:53you're seeing, okay, well, we're $659
1:26:55away from the PML and 3 minutes later
1:26:58we're $3 away from the PML and then
1:27:01we're um I don't know why that said
1:27:04five. I guess we fluctuated.
1:27:06Oops. Sorry.
1:27:09Um, yeah, it pulled back again and then
1:27:11we shot up again and now we're closing
1:27:13this gap to PML. There's zero and then
1:27:17at the PML above back at still at the
1:27:20PML and then finally it just starts
1:27:23taking off here pulls back again almost
1:27:27touches the PML here and then and then
1:27:31it's like 2 4 5 6 7 $8 away from PML. I
1:27:36mean it just left the building
1:27:39and there's your uh here's Wednesday
1:27:42when that was happening. So, we're
1:27:44seeing the bulls started breaking loose
1:27:47of this green. They
1:27:50started increasing at a steep rate, not
1:27:53at a mellow rate, all the way through
1:27:56this whole move pretty much with some
1:27:59pullbacks. So, you look at the rate of
1:28:00change over here where that all started
1:28:03and we're 0.7 0.9.
1:28:08Here we jump to 1.1.
1:28:10So now we're positive, but we could tell
1:28:13that like the move had already started
1:28:16looking in hindsight. But if you were
1:28:18just waiting for a true PML cross and
1:28:20you were waiting for um sorry and you
1:28:23were waiting for that rate of change to
1:28:25turn positive, this is where that turned
1:28:27positive. And then let's see. Okay, is
1:28:30it fairly positive? Is it big positive?
1:28:34What's going on? And it was like 1.1 1.3
1:28:381.5 decent. That's steady. Then back to
1:28:411.3. So that's a wobble. 1.28. That's
1:28:46still basically 1.3. 1.06. Oh, now we're
1:28:50going back into balance. What's going
1:28:51on? So this is a pullback. So we, you
1:28:54know, we at the PML, we took off and
1:28:57then we went back to the PML. So that's
1:28:59where this pullback with not significant
1:29:01changes in these numbers of this rate of
1:29:05change. It's like a wobble. And then
1:29:11we go back up. We're close to PML again,
1:29:14but the difference now is that the PML
1:29:16is moving too. And so price is moving
1:29:20and we're seeing that we're getting
1:29:21closer to the ceiling.
1:29:24So we're looking at this number going
1:29:26from 1.2 to 1.7
1:29:291.6 1.4. It's it's way far away from the
1:29:341.0's that we were looking at before.
1:29:36Now we go to two. Now we're going back
1:29:39to one. And oh, this is where it turned
1:29:42around. Sorry, my bad. Um, so anyways,
1:29:45we got as high as like three before it
1:29:48turned around.
1:29:52And at this point, it looks like we were
1:29:55already going back below. No, that's
1:29:57ceiling. Sorry.
1:30:02Yeah. So PML, we're A140 away from the
1:30:05PML, 220, dollar50, $4, $5, $6. This is
1:30:09where it maxes out from the distance
1:30:11from the PML. Right here, we're getting
1:30:13very close to the ceiling. So, how far
1:30:16are we in the margin? Let's look. We're
1:30:1874 cents away. We're well within the
1:30:20margin. We're about to hit the ceiling
1:30:23and then it just turned around. Why did
1:30:25it turn around? I know. I love to know
1:30:27that. But we know it's turning around
1:30:30because now we're going from 3 down to
1:30:322.6. And this is every 3 minutes. This
1:30:35is actually happening very fast. So from
1:30:373.1 to 2.6, we just lost half of a point
1:30:41of, you know, the percentage there. Then
1:30:44down to 2.1, 1.6.
1:30:47So in like 10 minutes, we've lost a full
1:30:50percent. Now we're going down to zero.
1:30:53Every 3 minutes. It's significant.
1:30:55Whoops. is significantly changing lower,
1:30:58but also would be looking at this to
1:31:01say, okay, well, what else is happening?
1:31:04We're just getting further and further
1:31:05from the ceiling at that point. So, we,
1:31:08you know, we're at the ceiling and now
1:31:10it's $2, $3, $4, $5, $10 away from the
1:31:14ceiling. So, that that drop was fast and
1:31:19hard. Like you said, it was a it was a
1:31:21good move. But that's how you can use
1:31:23the data while it's unfolding to kind of
1:31:26help you gauge the intensity of the
1:31:29move.
1:31:31So when you see zero and we're at PML,
1:31:35are we getting further,
1:31:37you know, or are we getting um, you
1:31:41know, are we going higher or lower
1:31:43basically? And is this number over here
1:31:46getting
1:31:48um smaller or larger?
1:31:51Whoops. I keep doing I mess up so much.
1:31:54Sorry. So, we were at PML. We're looking
1:31:57at 1.1
1:31:59and then it went up [clears throat]
1:32:03and this number went up, but then we
1:32:05came back to the PML,
1:32:10but then it went up again
1:32:12and then it really went up and then it
1:32:14turned.
1:32:16So, that's how I do it.
1:32:20>> [laughter]
1:32:21>> I'm still having issues with being
1:32:23recorded. I'm sorry. [laughter]
1:32:26Um,
1:32:29is it possible for price? Okay, we did
1:32:32that one. Okay. Yeah, you're welcome.
1:32:35Does that answer your question,
1:32:36Voldemort?
1:32:43Yeah, I can nerd out on his stuff all
1:32:45day. I love it. And then it's so funny
1:32:47because like you know doing a recap of
1:32:50the day before and actually pointing out
1:32:53or earlier that day I think it was this
1:32:57um somebody had asked in chat you know
1:32:59well how would we have known you know
1:33:01how could we have known that we weren't
1:33:03going to just come crashing off that
1:33:05ceiling and I built this like before I
1:33:09would forget cuz it was such an intense
1:33:12session of trading and watching
1:33:14everything and I wasn't necessarily
1:33:16taking a ton of trades, but just
1:33:18watching it hit all these signals during
1:33:21the session was really cool. And then,
1:33:23you know, at the end, I always like
1:33:25messing around with S&P
1:33:29based on end of day estimates and all
1:33:31that, but even that was hard cuz we had
1:33:33come so far off of, you know, our normal
1:33:36markers because we had such a big move
1:33:38to the upside. There was a lot of um um
1:33:43contracts loading in, you know, as you
1:33:46could see from the OMM,
1:33:49but um let me see.
1:33:52Yeah, here. Here. No, this one was
1:33:54pulled in the morning. This one's I just
1:33:58pulled that. Okay. Yeah. So, you can see
1:34:01like that ratio is insane. And there's
1:34:03the pink joining it. And there's, you
1:34:06know, the bears. They just like I don't
1:34:09know. They must have took a three-day
1:34:10weekend because after about here they
1:34:13were just gone.
1:34:18Does anybody have any more questions?
1:34:19Cuz we're going to wrap it up soon. Um I
1:34:22know we normally pull a bunch of charts.
1:34:23We could do that real quick. You guys
1:34:24want to pull net dealer and get into
1:34:27that?
1:34:30Um Big One says, "Net dealer target
1:34:33price seems to be an amazing new
1:34:35addition. Spy hits it well. MU on Friday
1:34:38was bank. When is that being released
1:34:41and what does it look like for Monday?
1:34:43That's a great question. When's it being
1:34:44released? In two weeks. And every time I
1:34:47ask, it's two weeks. In developing,
1:34:50that's what happens. Um Russell has some
1:34:52things he wants to dial in on it cuz
1:34:54when he releases it, he doesn't want it
1:34:56to be glitching. So, um, you know,
1:35:00myself and a couple other people who do
1:35:02have it, we're posting it in the Fractal
1:35:04Hub until you guys get the full release.
1:35:07So, we'll be posting Spy and Kik Spread
1:35:10Monster with Net Dealer, just that one
1:35:12screen because you guys can do the rest.
1:35:14Um, and I'll I'll just do it now because
1:35:17I haven't done it yet for the weekend.
1:35:19Let me um get out of this. We'll go do
1:35:23it right now. And this is the um market
1:35:27maker
1:35:28for tomorrow. So here's a chart. M did
1:35:33that one yesterday.
1:35:35Um let's go do the Oh, and by the way,
1:35:40last last week I showed you guys how I
1:35:42do the um spread monster values or you
1:35:46can do yellow box or whatever just by
1:35:49using the quadrant tool in the thinker
1:35:52swim. So, that's what this looks like
1:35:53when it's done. You know, there's my uh
1:35:57glass price. There's um the RGI,
1:36:02the median walls.
1:36:05I actually added the ceiling and floor
1:36:07to this one, but it it's it's kind of a
1:36:10fast way to get it done without spending
1:36:13a lot of time cuz I'm I'm charting like
1:36:15Qik and Spy, so everything's taken twice
1:36:18as long.
1:36:20Um,
1:36:22okay. So,
1:36:25let's go play around with this spy
1:36:27monster.
1:36:30So, we're going to um for anybody who's
1:36:32new, we use a wave 1 daily and as long
1:36:35as we have enough data, that's that's
1:36:37what we use. So, pull spread monster.
1:36:40It's looking forward one aggregation.
1:36:43So, it's looking at Monday. So, we use
1:36:45Friday's close as our date and we're
1:36:48going to look at Monday.
1:36:50But since in the spirit of us doing
1:36:53recaps, I'm going [laughter] to go I'm
1:36:55going to go look at um Oh, I can't
1:36:57shoot. I can't look at uh I guess we can
1:37:02I'm going to look at Thursday, but we
1:37:04can't pull the contracts for Thursday.
1:37:08But I can still do the Thursday looking
1:37:11forward to Friday. And the difference is
1:37:13you're going to see a solid line where
1:37:14the price occurred
1:37:17and not um
1:37:25sorry not the X's. The X's show you
1:37:27where price may occur and um when you
1:37:30run it after the fact you get to see
1:37:32where the price did occur.
1:37:36You can run it in day too, but just make
1:37:38sure you're picking the previous day
1:37:40because it's forward looking one day and
1:37:42if you pick the current day, it's
1:37:44actually looking at tomorrow.
1:37:51Okay, I try again. When I stream my
1:37:53fractal crushes a lot, so it's just what
1:37:57happens.
1:37:59Okay. Um,
1:38:04spread monster. Try again. I'll go slow.
1:38:11>> So for tomorrow,
1:38:17>> how are you?
1:38:18>> Hello.
1:38:22Um, [clears throat]
1:38:23so we're going to go into density graph
1:38:28and some of the cool features if if
1:38:30you're seeing this for the first time,
1:38:32um, we can actually turn the background
1:38:34off, make it easier to read, but
1:38:37everybody likes that, but I'll tell you
1:38:38right now, being able to see the density
1:38:42of where the most, you know, levels are
1:38:46is helpful. So, take a mental note
1:38:48before you turn off your background. You
1:38:50know, obviously it's denser here, right?
1:38:52It's not denser up here. It's not denser
1:38:54down here. It's denser right through
1:38:56here, right through the middle. So,
1:38:58we're going to turn off the background.
1:39:00Um, another cool feature, we can adjust
1:39:01the waves.
1:39:03But for now, we're going to leave them
1:39:05like this and get our levels pulled. Um,
1:39:08when I do a spread monster, I'm looking
1:39:10for 200 aggregations and enough data
1:39:13points over here to support,
1:39:16you know, the outlook for the next day.
1:39:19If if I've got uh no flat lines here, no
1:39:23flat lines here, I'm going to set it to
1:39:25250 days and try again. If I can't get
1:39:29it with 250 days, I'm going to set for
1:39:31500 days and try again. If we're at
1:39:33all-time highs, sometimes we have no
1:39:35choice. we have to use weekday matching,
1:39:37but I tend to use high low because um it
1:39:41it's just weekday matching. You're
1:39:44omitting some data by only looking at
1:39:47Mondays.
1:39:48So, our net dealer for tomorrow is over
1:39:51here. And I set the cursor. Oh, I have
1:39:54to get ready to do a screenshot. This is
1:39:57so annoying. Okay, so we'll do 5
1:40:01seconds. We'll see if I can get it done
1:40:02in 5 seconds.
1:40:06That's pretty close.
1:40:08Okay, it works. So, I've put timer on it
1:40:12and just try to get my cursor lined up
1:40:15and then
1:40:17where is it? So, here it is.
1:40:20And then I like to highlight these
1:40:23areas. Um, I highlight the whole zone
1:40:28and then take the center where we just
1:40:32had our cursor. So the crosshair price
1:40:34there is 74028
1:40:37and a couple of guys were talking on
1:40:39Friday. They had already looked ahead
1:40:40and knew that the dealer level would be
1:40:43740 for Monday. So you can look ahead
1:40:46any time on a spread monster. It's when
1:40:49you're looking same day that um you're
1:40:53going to get that bar and everything's
1:40:55going to look different because the
1:40:56market's moving.
1:40:58So
1:41:01the long average and short average that
1:41:02we talked about right here. Oops.
1:41:06right here like that.
1:41:12And again, these numbers are coming from
1:41:15the average
1:41:17call and oops, the average
1:41:22put
1:41:29it in chat. Okay, let's go do cues.
1:41:34If anybody has any questions, just ask.
1:41:39I'm still learning how to use this
1:41:41chart, too. There's so many cool
1:41:42features on it. And um I was a little
1:41:46intimidated by this red monsters before,
1:41:49and there's something about the way this
1:41:51one looks that it's just
1:41:54not intimidating at all. I I'm not
1:41:57talking about like so what I I guess
1:42:00I'll just say it this way. I used to use
1:42:02a density chart like it's going out of
1:42:04style and I love it because it's so
1:42:07simplified and I know there's like so
1:42:10much data behind it. But this was very
1:42:13easy for me to read. Whereas now the new
1:42:17uh density chart is becoming a lot
1:42:19easier for me to read the way it's set
1:42:22up. So, I'm just saying it looks like a
1:42:25lot, but don't be intimidated. After
1:42:26you've looked at it a few times and you
1:42:28understand what it what you're looking
1:42:29at, it gets a lot easier. Um, so again,
1:42:32checking the densities in the zone,
1:42:35which makes sense cuz that's like the
1:42:3750% outside move and outside risk, which
1:42:40matches our 50% medians, right? Most of
1:42:43the trading is going to be like here.
1:42:46And turn off the background
1:42:48and try to get a screenshot. This is
1:42:51like so challenging.
1:42:55So, get on there before 5 seconds is up.
1:42:59Got it. I got lucky. Usually, it takes
1:43:01me like a couple tries.
1:43:08We're going to mark it out.
1:43:12Same thing.
1:43:15Oh, this one has a lot more. I wonder if
1:43:17I went further out, we'd get that whole
1:43:19zone.
1:43:20But for right now, you just need this
1:43:22number.
1:43:26And then I'll notate this one as well.
1:43:29Long average.
1:43:33It's tied to the 486.
1:43:39This one's tied to
1:43:44828.
1:43:50So net dealer um Winston is the area
1:43:55that
1:43:57the market makers stand to make the most
1:44:00by the end of the day. Now we're running
1:44:03this 24 hours in advance cuz when we run
1:44:06it at 4:15 or 4:30 in the afternoon is
1:44:10the soonest you can run it.
1:44:13We're running it for 400 p.m. the next
1:44:14day for close. So it may not get there
1:44:17all day. It may end up there. But
1:44:20ideally based on their plan for the day,
1:44:23just like when we're looking at a market
1:44:25maker landscape,
1:44:30we're looking at,
1:44:32you know, their plan for the day. And
1:44:34these things at night for the overnight
1:44:36levels are almost always in balance. You
1:44:38can see it's like equidistant, the PML,
1:44:41the ceiling, the floor. So it's almost
1:44:43always in balance for their
1:44:45expectations.
1:44:47So um same thing with the net dealer.
1:44:50We're pulling these numbers ahead of
1:44:51time. So every anything can happen
1:44:54during market, right?
1:44:59But it's a guide.
1:45:02Um
1:45:06okay, table bandit high matching hasn't
1:45:08been working on spy for multiple
1:45:10aggregations recently. levels are super
1:45:13close on weekday. Oh, okay. Yeah, Table
1:45:16Bandit's been um running weeklies um on
1:45:20Sunday. I forgot to run the weekly. I
1:45:22just ran the overnight. We would um and
1:45:25I'm streaming so I have issues when I'm
1:45:27streaming. So, what I'll do is um if
1:45:30anybody else has has it, that's great,
1:45:33but I'll run it with the nut dealer. I
1:45:35don't know that I don't know that that
1:45:37changes with the weekly, but it would
1:45:39just mean I would have to go five days
1:45:41ahead and look ahead for the whole week,
1:45:43which I will do um when we get off, but
1:45:46if I do it right now, I know my system
1:45:48will crash cuz it's
1:45:50streaming and overlap with streaming.
1:45:53It's touchy.
1:45:55Um Oh, we need the overnight. We did the
1:45:57overnight
1:45:59cues. I think we need the overnight spy
1:46:02market maker landscape. Yeah, we need
1:46:05cues. So, the option analyzer is
1:46:10here. We're going to go pull the
1:46:13nightly, weekly.
1:46:17For anybody who doesn't have the fractal
1:46:19system, what this does is it shows us
1:46:21the positioning for market makers and
1:46:24where the ceiling in the floor would be.
1:46:28>> Hi user, here's Momento.
1:46:31>> Hi, how are you? Did Did you share
1:46:33charts today?
1:46:35>> Sorry.
1:46:36>> Did you share charts today? Sometimes
1:46:38you share charts. I don't want to do
1:46:39them again if you already shared them.
1:46:42>> Uh I shared an Excel file with the um
1:46:46market maker and spread monster levels
1:46:49for tomorrow and the whole week for Spy
1:46:52and QQQ.
1:46:54>> Oh, nice. Thank you.
1:46:56>> You're welcome. I just wanted to say
1:46:58that. But um if you want I can also pull
1:47:02a by
1:47:05that we have the normal picture because
1:47:07there it's in an Excel and uh with
1:47:10conversions for ES and and Q.
1:47:15>> Oh, with what you shared in the chat?
1:47:18>> Yes, I think it's one of the first
1:47:20messages.
1:47:21>> Okay, thank you. Um
1:47:23>> you're welcome.
1:47:25>> Yeah, I'd like to do the pictures, too.
1:47:27So, we're going to just run through it.
1:47:29So, if you know how to do it. Yeah. But,
1:47:33um, yeah, if you guys scroll back to the
1:47:35beginning of today's discussion, it'll
1:47:37it'll be there.
1:47:39>> Thank you for doing that. Um,
1:47:44so what I'm taking a picture of is
1:47:48overnight levels for Q for tomorrow.
1:47:52Something we can see is right off the
1:47:54bat is we have a market maker dead zone
1:47:59there's one check box that's for
1:48:00tomorrow.
1:48:02Um we're above PML. So whoops. So we're
1:48:05closer to the ceiling than the floor. So
1:48:08just looking at this like what we were
1:48:09talking about earlier when we were deep
1:48:12diving on the OMM. The puts below is 326
1:48:16above is 297. So that means we were
1:48:19probably going to go up. But this ratio
1:48:21isn't really big. You know, you can run
1:48:24it what 326 / 297 will give you your
1:48:28ratio for the overnight. [snorts] Um,
1:48:31one of the things with uh the market
1:48:33maker dead zone and we know as soon as
1:48:35the market opens at 6, which is in 5
1:48:37minutes, but this market maker dead zone
1:48:40on QQQ, um, one of the fractal users,
1:48:43Chloe, has been
1:48:46I don't know if she's exclusively
1:48:47trading this, but she's been
1:48:49proficiently trading this um, every day,
1:48:52testing it, back testing it, uploading
1:48:54data, and this thing is very reactive at
1:48:58um, futures open this overnight market
1:49:00maker dead zone on QQQ. I'm not sure if
1:49:03it's the same way for SPY, but it's
1:49:05intriguing because, you know, we use
1:49:08this during the day a lot, too, but it
1:49:11never occurred to me to use it for
1:49:12futures and, you know, anybody who's was
1:49:15in here, you know, a week or two ago
1:49:17when she was in here, she was showing
1:49:18everybody how to make that actionable.
1:49:22Um,
1:49:24it'll likely drop down to 679 tomorrow.
1:49:28Well, technically, yeah, the net dealer
1:49:30is there as of right now. Now, new
1:49:33information can come in with um MGI,
1:49:36which is market generated information
1:49:38from traders, like what happened the
1:49:40[clears throat] other day when we
1:49:41shifted like 4 million extra positions
1:49:44went on, you know, 4 million extra
1:49:46contracts went into play when we were
1:49:49just like, you know, bouncing around a
1:49:51million contracts total for the day. So,
1:49:54when that happens, [clears throat] yeah,
1:49:56things can change.
1:49:58And then when they change everybody's
1:49:59hedging, so it just creates like a
1:50:01frenzy of covering and new moves. Um,
1:50:06I'm trying to think through the catalog
1:50:09of things. Okay, we'll do weekly.
1:50:17Oops.
1:50:27When we do the weekly celium floor, we
1:50:29want to select all the contracts for the
1:50:32week.
1:50:34It's checking all the zero DTE for every
1:50:37day. That's one takes a couple minutes.
1:50:47Um I had one one question.
1:50:50Um to what extent do we need IDOS for
1:50:54intraday rating if we have floor floor
1:50:58in ceiling from option analyzer?
1:51:02>> Um that's a [clears throat] good
1:51:03question. Um while this is running I
1:51:05don't know if it'll crash on me but I'll
1:51:07I'll pull up the milk chart and show you
1:51:10and you can actually go back through his
1:51:13channel and look at all the recaps. Um,
1:51:15[snorts]
1:51:16there's a lot of charts shared every day
1:51:19that show these, but I like looking at
1:51:22his because again, he pairs the
1:51:24components of
1:51:26the different fractal tools with the
1:51:28orderflow. So, and the yellow box and
1:51:31the spread monster and the option
1:51:33analyzer. So, everything is on this kind
1:51:35of one chart. But here's an overnight
1:51:38ceiling and here's the IV wall, right?
1:51:43So, we never breached the IUB walls on
1:51:45this day. We tapped it, but we didn't
1:51:48break through. We didn't break through
1:51:50the floor either. So, it's just a matter
1:51:53of having more than one piece of data
1:51:56instead of saying, "Oh, I'm just going
1:51:58to trade off the IV walls." You know, we
1:52:01have more than one confluence. This IV
1:52:03wall happens to be near the ceiling, but
1:52:05this IV wall is not near the floor. So,
1:52:08you know, the IV walls are coming off of
1:52:11the contracts and and so is the ceiling
1:52:13and the floor, but they work
1:52:15differently. There's um
1:52:18the IV walls. I don't know if I can
1:52:21explain this right. Is Luke still here?
1:52:23Luke's really good at IV walls. Um this
1:52:27is still running, so I can't pull
1:52:29anything up. Let me see what table put a
1:52:32weekly recap.
1:52:34Let me see if this will explain it.
1:52:36Here's another recap of um weekly
1:52:39levels. I don't know if he has the IV
1:52:42walls on here, though. It's got the
1:52:44weekly floor.
1:52:46So, we broke weekly floor a couple times
1:52:49and we're just running it on Sunday.
1:52:52Um weekly ceiling. We didn't even get
1:52:55close.
1:52:57So, here's the weekly ceiling.
1:53:02I don't see IV walls on this one. Um,
1:53:07yeah, some of the guys that post the IV
1:53:09walls, we would have to
1:53:12wait till tomorrow. I think I don't have
1:53:14them on my chart.
1:53:17Here's the milk chart again. This is
1:53:19just a daily IV wall, not a weekly IV
1:53:22wall. Ryder and Luke um are big into the
1:53:27IV walls, so I think looking at their
1:53:30charts and Ryder's been sharing stuff in
1:53:32the gym chat. Let me see if I can find
1:53:34any stuff.
1:53:37Um
1:53:38>> also if they break an IV, does it mean
1:53:41we're also in like positive exposure or
1:53:46>> No, not necessarily. Yeah. If if it
1:53:48coincides with the ceiling, sure. But
1:53:51no, positive exposure is when it breaks
1:53:53the ceiling or the floor. Um IV walls,
1:53:56there's usually three. And so we will um
1:54:02you know if we get into the first one
1:54:05the middle one is like
1:54:07more the hard level and then the third
1:54:10one is the overflow. So sometimes once
1:54:13we get inside the IV wells we don't
1:54:15leave. We stay in there and bounce
1:54:17around like it's in a box. You'll see
1:54:19price get contained in there quite
1:54:20often. It takes a lot to get back out of
1:54:23them. It takes a lot to get into them
1:54:25and it takes a lot to get back out of
1:54:27them.
1:54:28Um, so this is the weekly market maker
1:54:31or sorry, yeah, market maker landscape.
1:54:33Let me um take a picture of that. This
1:54:36is going to be the weekly celium floor
1:54:39for Q.
1:54:45And I'm going to do the one for spy.
1:54:55I'll I'll show you on the spread monster
1:54:57where he's getting the IV walls from in
1:54:59a minute after I run the spy. Okay.
1:55:07So, we're going to load the contracts,
1:55:10pick all the contracts for the week.
1:55:13It doesn't normally take this long.
1:55:15except when I'm streaming.
1:55:18So, sorry about the wait.
1:55:25I was muted. I post this by
1:55:28[clears throat]
1:55:29uh in the chat.
1:55:30>> Oh, you did it for the weekly. Thank
1:55:32you. Okay, perfect. Then I can cancel.
1:55:35I'll hit cancel. Cancel.
1:55:39Okay.
1:55:41Okay. So, um,
1:55:45Momento just posted the weekly, um, spy
1:55:49for us and thank you so much. Okay, so
1:55:53we got that.
1:55:57>> Okay,
1:56:03it's going to want to crash again.
1:56:08Okay.
1:56:12>> [clears throat]
1:56:13>> So, um, Alex, do you want to see for Q
1:56:18or for spy?
1:56:20>> I think it's best for spy
1:56:22>> spy. Okay,
1:56:24>> so we go into the spy monster. And I'm
1:56:26not the best at pulling IV walls, but I
1:56:29I got the concept down. It's just I
1:56:31haven't practiced enough to get them
1:56:33perfect. And usually like Lou, Ger
1:56:36Rider, or even Moki can come in and pull
1:56:39these things pretty easily. Um, it just
1:56:43takes practice. So, we go into the
1:56:45density chart.
1:56:47Load in the contracts for the next day.
1:56:55Turn off the background. I'm going to
1:56:57make as much room as I can.
1:57:03So, for the cost side, what we're
1:57:05looking for is where this um, see all
1:57:08this volatility in the curves.
1:57:10Basically, we're looking for where it
1:57:12flattens out. So, market makers aren't
1:57:15really expecting much more volatility
1:57:17past that point. I used to just look for
1:57:19the flat line that's like way way way up
1:57:22there. So, the nuance we're actually
1:57:24looking for is more like this. We're
1:57:27looking just to the inside of your
1:57:30cursor to see if we can get a flat line
1:57:32off of one of these. For example, this
1:57:35one. Not quite there. You see it's
1:57:38concave.
1:57:40This one's pretty close. I could be
1:57:43wrong about this, by the way.
1:57:45I'm probably going to put them too
1:57:47close. That to me doesn't look flat
1:57:49enough. Last time I ran IV walls, I
1:57:52always double check against Milk's
1:57:54levels the next day, and mine were off
1:57:55by like three strengths. But this is how
1:57:58you figure it out. You want to do your
1:58:00alignment. And so, I'm just going to do
1:58:04what I always do. I'm going to do a
1:58:05screenshot.
1:58:08and we're going to mess around with it.
1:58:14I wish I was better at this, but there's
1:58:15a lot of videos
1:58:19on how to pull these perfectly.
1:58:24So, for me,
1:58:27I'm going to look and see, you know,
1:58:29again, where these flatten out
1:58:38this down. Turn this up.
1:58:41And I'm be honest, I'm just I'm just
1:58:43guessing. But this one's curved. This
1:58:46one's curved. This one's kind of curved.
1:58:48This one's getting flat. So, I'm getting
1:58:50interested around this area. And I'm
1:58:53also looking at the upper areas of these
1:58:56these lines,
1:58:58which I know that doesn't, you know,
1:59:00this is historical volatility and this
1:59:02is implied volatility, but for me, I
1:59:04want to see is it is it aligning with
1:59:07what I'm seeing over here, too. And it
1:59:10is. There's a level right there. So, I'm
1:59:12thinking like price doesn't normally get
1:59:14this high. There's only three times it
1:59:17exceeded that. So, this makes me want to
1:59:20use this IV wall. And it's pretty flat.
1:59:24This is not official, by the way.
1:59:27There's a lot of videos on how to do
1:59:29this.
1:59:31So, I'd be looking at these three as
1:59:34Whoops. as my um IV walls. If nothing
1:59:38else, it would be this one. So, we use
1:59:41three of them. And then on the downside,
1:59:46you know, if I drew a straight line, you
1:59:47can see there's a curve there. So, it's
1:59:49not that one.
1:59:52This one's a little straighter coming
1:59:54into it. So, you're just basically
1:59:57eyeballing it and then going in with
1:59:59precision on a 4K and trying to get like
2:00:02a one pixel gap. I think Hazy's been
2:00:05practicing. Um, writer's good at it.
2:00:08There's a few other people that um you
2:00:11know they've just been relentlessly
2:00:12working at getting that precision down,
2:00:15but roughly I would say they were about
2:00:17here this week. Did somebody pull them
2:00:20already?
2:00:25>> Um yes. Um they're also in this Excel
2:00:28file. And
2:00:30>> you pulled them on your Excel file.
2:00:31Okay.
2:00:32>> I I'm wondering if they are right. So I
2:00:35also like it to check with others and
2:00:38especially milk. [laughter]
2:00:40>> So um can you take a screenshot of your
2:00:43Excel file and I can pull it on my
2:00:46screen because if I open the Excel file
2:00:48it's going to launch all the Microsoft
2:00:51programs and it's going to mess up my
2:00:53stream.
2:00:54>> Sure.
2:00:55>> Thanks.
2:01:13I posted them.
2:01:15>> And then anywhere you put your cursor on
2:01:17a spread monster, you're looking down
2:01:19here at the crosshair price. So like if
2:01:22I put it here, that's the crosshair
2:01:24price. Um, you can just hit the escape
2:01:27button if you get these little um notes,
2:01:31but you just hover.
2:01:34There's a gap there. So, yeah, maybe
2:01:36these IV wells are further down than
2:01:38what I thought with my eyeballs.
2:01:42Okay, so he posted the ones that he
2:01:45derived.
2:01:47And I think I think I can overlay this.
2:01:53>> I'm not sure. Or maybe I have to change
2:01:55to match uh weekday matching.
2:01:59>> Um well,
2:02:01>> but I'm not sure. May maybe it was
2:02:03normal. Maybe it was normal.
2:02:08>> Yeah, I don't I don't think so. I mean,
2:02:10did you see flat if you saw flat lines?
2:02:13Yeah. So, what did you get?
2:02:17Enter.
2:02:19I don't I don't see a number there.
2:02:21>> Uh sorry. I was just it was just uh the
2:02:24the true IV wall and then u for me it's
2:02:28like yeah
2:02:29>> oh here
2:02:30>> so you got um 753
2:02:35>> oh yeah I I think spy was normal with
2:02:38high low matching for 200 days maybe for
2:02:41cues I had to change but yeah let's see
2:02:44>> oh long and short okay so 753 and 735
2:02:48>> yeah there are
2:02:49>> 753 you got that one I got that
2:02:52and 735
2:02:54down here. Way down here. You got this
2:02:56last one.
2:02:59Yeah. So, I'm seeing maybe here. Let's
2:03:02Let's go look.
2:03:11Also, I have a mouse issue. So finding
2:03:14these perfectly. That one almost works.
2:03:21So you're looking at the center one,
2:03:22right? You're looking for the true.
2:03:27>> Yes.
2:03:29With I think that's with no pixel. But
2:03:32actually I I derive it like uh when the
2:03:36mouse is below the curve. So I think in
2:03:40the video from AA it's explained like
2:03:44um yeah below but I saw both ways and I
2:03:48think that's
2:03:49>> I just can't hold my mouse still have a
2:03:51old mouse. Um that's another reason why
2:03:55I try not to do these too much. Okay.
2:03:57Yeah, that one looks pretty good
2:03:59actually. So I would say it's going to
2:04:02be cool to check tomorrow when Milk Post
2:04:05says and see how close you got.
2:04:08Yes,
2:04:09>> at least when you're trading ES, you can
2:04:12see that. Um, so one of the things that
2:04:15Where's my What did I do with that?
2:04:20Fractals like
2:04:22way.
2:04:28Okay, so you got all those and you just
2:04:30did the conversions for ES. Did you pull
2:04:32the RGI yet?
2:04:35>> Okay, I'm going to go pull the I think
2:04:38it's is not in the Excel. I put them
2:04:40directly.
2:04:42>> Okay,
2:04:43I'm going to go pull the RGI. So, the
2:04:46RGI, we pull that off of the odds graph
2:04:49and it's this um red and green
2:04:52intersection.
2:04:54RGI or red green intercept.
2:05:00Again, my mouse is wobbly on this desk.
2:05:05And the crosshairs is at 74673.
2:05:09So rather than kill everybody with
2:05:11screenshots, I'm going to go find the
2:05:12one for Q.
2:05:15And um
2:05:18just write that in there. 74673
2:05:22RGI
2:05:23spy. And then we'll go get Q's.
2:05:28I forgot to do it when we were doing
2:05:29Kiko.
2:05:36And um just to
2:05:40rehash
2:05:41um
2:05:43this is the RGI
2:05:46and so for me once we get above it or
2:05:49below it it's confluence for a trade or
2:05:52to stay in a trade or to get out of a
2:05:54trade. It's just such a heavy level that
2:05:57when we do react to it now sometimes
2:05:59it's way down here. It's not even in
2:06:01play. But I have the RGI on my chart
2:06:05every day. Just like Milk, you know,
2:06:07he's got the pivot. I'll put his pivot
2:06:09on my chart as well cuz I want to know,
2:06:12you know, what's that line in the sand
2:06:14for ES or, you know, for SPY, but for
2:06:18me, that's it's a very pivotal pivotal
2:06:21level. Um, I use it a lot.
2:06:25So, let's see.
2:06:28And you get that from the odds graph.
2:06:35You can run the options chain and pull
2:06:37it um off the crisscross of the options
2:06:40chain on a fractal chart. But the for me
2:06:46that's
2:06:49not as easy as doing it this way. But
2:06:51also the minute the market opens all of
2:06:54those options chain start moving. So,
2:06:56I'd rather have it on something that's
2:06:58forward looking and projecting than
2:07:00something that's sitting there actual
2:07:03that's moving. This isn't moving, if
2:07:06that makes sense. This is static. Um,
2:07:09the options chain is dynamic. It's
2:07:11moving during the day. So, this one is
2:07:13680 640. Whoops. 680.
2:07:17My stupid mouth. I swear I'm going to
2:07:19Best Buy this week. Um 68630
2:07:23is the RGI for QQQ.
2:07:28All right. So, I know the market
2:07:29dripping. We're running late. Um
2:07:32if anybody doesn't have any more
2:07:34questions, um I'm going to have to go.
2:07:37But it was really nice hanging out with
2:07:40you and I hope you know
2:07:45>> and this will be recorded. I'm going to
2:07:48try to upload it when we get off and see
2:07:50how well we do with our first our first
2:07:52try.
2:07:55>> Uh yeah, I had one question. Do we often
2:07:58go over IVs or it's a very rare event?
2:08:06>> You mean for the behavior like the
2:08:07typical behavior? I mean for for for
2:08:10price for example does it often happen
2:08:12that price go goes over IV hole or it
2:08:16comes close to IV hole.
2:08:19>> Well here we interacted with the IV wall
2:08:22twice. Okay.
2:08:23>> So this is again looking at Friday. So
2:08:26the um upper IV wall premarket it got
2:08:31close but it didn't get there. Um, and
2:08:34then it came down after open and wicked
2:08:39into the Ivy wall, but it was very
2:08:41resistive. It's really strong. It's hard
2:08:44for price to get there and stay there.
2:08:46It It generally will go back the other
2:08:49way, and it did here. Now, let's just
2:08:51say it broke through.
2:08:54Well, up here, here's our IV wall. It
2:08:56did break through. It tried, tried,
2:08:59tried, tried, tried. It finally broke
2:09:01through and then it kept going through
2:09:03the IV walls and almost stayed in here
2:09:05through close. So, let's see 4:00.
2:09:09This is 4:00.
2:09:11But then after hours, um, you know,
2:09:14things can happen after hours cuz the
2:09:16dynamics changed because the market's
2:09:17closed. And this is a futures chart. But
2:09:20generally, you'll see that once we get
2:09:22inside the IV walls, we don't come out.
2:09:25It's not always true. Um, when we're in
2:09:29the IV walls at the floor, a lot of
2:09:32times when we bottom out, there's going
2:09:35to be a buyback of sellers buying to
2:09:38close. So, that creates a bounce. So,
2:09:41sometimes that's what can happen if
2:09:42we're in the lower IV walls. We'll see
2:09:44that buyback bounce. Um, and and that's
2:09:48enough to get it back out of the IV
2:09:50wall. So, that could be what happened
2:09:52here where it just wicked it and then
2:09:54took off back the other way. But again,
2:09:57if you look at the recaps of Milk's
2:10:00charts, um,
2:10:02we should just make a slideshow at some
2:10:04point. You'll see the behavior of the
2:10:07ceiling and floor, like when the
2:10:09ceiling's collapsing and the floor is
2:10:10stable or, you know, the overnight
2:10:13ceiling, how price respects that.
2:10:16It's really good to look at those recaps
2:10:18because let's just say you want to look
2:10:21at only IV walls. Go in his channel. You
2:10:25can literally just scroll through it and
2:10:27look at all the recaps and see how price
2:10:30behaved with those um IV walls. I'll go
2:10:34grab a old milk chart from Let's just
2:10:37see where they hit the IP wall.
2:10:41I mean, it really doesn't hit them too
2:10:43often.
2:10:47I'm looking
2:10:55I'm just not seeing one where we hit one
2:10:58recently
2:10:59because they're usually on the out
2:11:01outskirts of the expected trading range
2:11:04cuz it's it's it's out there where um
2:11:08where's that picture
2:11:13here? If this helps you at all, it's out
2:11:16there where the volatility is not
2:11:20expected to go. So it's, you know, these
2:11:22are flat lines. So you can pretty much
2:11:24figure like if 50% of the trading is
2:11:27going to occur in this zone or expected
2:11:30to occur in this zone, you know, the IV
2:11:34walls are way out here in the flat spots
2:11:36where there's not a lot of volatility
2:11:39expected. So, they're definitely outlier
2:11:42moves when they do occur.
2:11:46Um,
2:11:48here's one.
2:11:51All right. So, here's one where it
2:11:53shows,
2:11:55you know, here's the upper IV walls, the
2:11:58lower IV walls, and we came down, tapped
2:12:02it, didn't even make it to the middle,
2:12:03and got back out. So, it's very um
2:12:06supportive in this case. It bounced out
2:12:09of there. But once it gets in there, if
2:12:11it passes through, this is called IV
2:12:14overflow, it can stay, you know, below
2:12:16and have a harder time getting out. Just
2:12:19in general, you know, with experience,
2:12:21just looking at these things over time,
2:12:23you start to get a feel for how the
2:12:25different things might react.
2:12:28Um,
2:12:29for another one.
2:12:32Here's another one.
2:12:35went through the milk alert channel
2:12:36because every day there's a recap and
2:12:39it's easy to, you know, go through
2:12:40these. So, here's a example of, you
2:12:44know, overnight ceiling, Ivy walls near
2:12:46the overnight ceiling, uh, overnight
2:12:48floor, we can't even see it. Um, first
2:12:51print, floor, ceiling. So, when you're
2:12:54saying, you know, do they act like a
2:12:56floor and a ceiling?
2:12:58Not [clears throat] not really. The
2:13:00floor and the ceiling are are totally
2:13:02different. um they're being derived
2:13:04differently, but here it hit the IV
2:13:07wall, uh the inner IV wall and barely
2:13:10barely breached it like right here. Oh,
2:13:13no, that's not the UV wall. Sorry,
2:13:15that's a ceiling. So, yeah, it didn't it
2:13:18almost got there, but it tends to be
2:13:20very resistive and very supportive like
2:13:22guardrails. So ceiling floor can be um
2:13:26overlapping those zones, but generally
2:13:29your IV wells are the edges of the
2:13:32expected moves. They're not going to be
2:13:34right in the middle of the action.
2:13:37Um
2:13:39I think there was one other I'm probably
2:13:41going to build one of these tonight. It
2:13:43just depends on how tired I get. But let
2:13:47me see if I can find it.
2:13:51Okay, there's just one more thing I was
2:13:54going to show you guys
2:13:57that I find really helpful um for
2:14:00concept.
2:14:05I just have to find it because I did it
2:14:07like a week ago and there's already 100
2:14:09screenshots
2:14:11in here with it. Oh gosh, where'd it go?
2:14:15Here it is.
2:14:19So, this this I've showed you you
2:14:21before, but if you take the ceiling,
2:14:25the overnight ceiling and the overnight
2:14:28floor and you lay it down on the spread
2:14:30monster, you know, so we're pairing
2:14:32data. These are contracts. These are the
2:14:35contracts, the puts. Um, we take the
2:14:39price that we closed at, we take the
2:14:40PML, and then this gives us another
2:14:43layer of information. Now, these are
2:14:45derived differently.
2:14:47But it's repairing the data. So in my
2:14:52mind, I'm kind of saying, you know,
2:14:54either don't worry about this whole zone
2:14:56or this whole zone. It's beyond the
2:14:58ceiling, beyond the floor, and we rarely
2:15:00go beyond the ceiling or the floor. That
2:15:03said, it can still happen.
2:15:06But when you look at the ceiling floor
2:15:10as a filter and you still see volatility
2:15:13here, you know, the IV walls are going
2:15:16to be up in this area. You know, they're
2:15:18not going to be down here where the
2:15:20curves are. And like these flatten out a
2:15:23little, but I would expect the IV wall
2:15:25on this day probably overlap the floor a
2:15:27little cuz it went flat here.
2:15:31But we're not going to go beyond the
2:15:32ceiling and the floor. Generally,
2:15:34they're going to start working their way
2:15:36in throughout the day. The zone between
2:15:39the overnight ceiling floor
2:15:42[clears throat] on this one was 7:45 to
2:15:44758. That's $23.
2:15:48Usually, like that's a lot that they
2:15:50were expecting a lot of volatility that
2:15:52day, but normally it's about $18 to $20
2:15:56and then by the end of the day, it's
2:15:58around $7 or $8. Like, there's only a
2:16:00few contracts left in play. So picture
2:16:03this later in the day squeezing down on
2:16:06this picture. Now we're only dealing
2:16:08with a small piece of this window. So
2:16:11for me, it's kind of like putting a
2:16:13filter on it and saying we're really
2:16:15only dealing with these zones
2:16:17um for that day. I haven't built one for
2:16:20tomorrow. It takes me like 20 minutes to
2:16:22build this. But um that's just one way
2:16:26to picture it in your head when you see
2:16:28one of these and you're looking at this
2:16:31and those levels are agreeing with each
2:16:33other. I think I had a chart where I
2:16:37drew it all next to each other
2:16:42to show how like a recap like how it
2:16:45played out.
2:16:47I really was ready for this, but I mean,
2:16:51you guys ask good questions and I didn't
2:16:53have like all this ready.
2:16:55Um,
2:17:01yeah, I can't find it. But again, you
2:17:05know, pair your data and [clears throat]
2:17:07if you're using your your favorite
2:17:10system, use that too. You know, pair it
2:17:14together. I was using 50 indicators, not
2:17:1950, but a bunch when I first started
2:17:21doing fractal trading. And over time, I
2:17:24just was able to let each one go. Cuz
2:17:27once I started really trusting these
2:17:29levels, made it a lot easier and a lot
2:17:31less noisy for me to find my way around
2:17:34and trade make trade decisions. Cuz if
2:17:37you have less factors to think about,
2:17:41you can make the decision a lot faster.
2:17:44Um
2:17:46gosh, I can't find this picture. Maybe
2:17:48it's on the other computer.
2:17:55Sorry.
2:17:57It was just basically a picture of um a
2:18:00Thinker Swim chart with all these levels
2:18:03mapped out onto it as well. So, it was
2:18:05like three three of them going across.
2:18:12I'll post it in the chat later, but I
2:18:15may have already done it last time.
2:18:18Um,
2:18:24yeah, I think I did it last weekend.
2:18:42I'm looking for it. But um does anybody
2:18:45have any more questions? Because I I do
2:18:47I do want to wrap up. Oh, I found it.
2:18:49Well, this one isn't the spread monster,
2:18:51but this is the same example of um you
2:18:55know, using our data, pairing it
2:18:57together. We take the weekly floor, we
2:19:00put it here, the weekly ceiling, and
2:19:02there we go. There's our OM. We never
2:19:04breached the weekly floor or ceiling
2:19:06that week. Um the overnight ceiling and
2:19:09floor were falling in here on that
2:19:11particular day. So that was Monday. Um
2:19:14this is what we did last Sunday as an
2:19:16exercise to get ready. But um you know
2:19:20pairing your data with your different
2:19:21tools kind of gives you an idea of you
2:19:24know where we're going to be at the next
2:19:26day. Of course, market does what it
2:19:29wants to do, but um
2:19:34I don't think I have the other other one
2:19:37anyways.
2:19:40Um let's see. Oh, you're welcome. Thank
2:19:43you guys for coming. We need we need
2:19:46co-host [laughter]
2:19:48going forward. All right, I'll post the
2:19:50link once I get everything uploaded if
2:19:52anybody wants to review anything. And
2:19:54thank you for everybody who pitched in
2:19:56and um shared charts and information.
2:20:01And um we'll see you next Sunday. Good
2:20:05luck tomorrow.
2:20:07Good night. You
2:20:09>> too. Bye you, sir. Thanks.

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