PATTERNS OF

ENTRY
BOOKMAP
Position Taking Patterns
extracted from Scott's course
Chicks

M. J. Gutierrez
IF INDICATOR PRODUCT THRESHOLDS
Icebergs Stops
ES >700 >500

NQ >120 >100

CL >100 >100

GC >100 >150

YES >70 >50

ZB >200 >150

ZC >250 >100

ZS >150 >100

ZW >110 >100

HG >90 >70

NG >100 >70

THE >40 >40

HE >60 >60

6E >100 >100

6A >50 >50

6B >80 >70

6C >50 >50

6S >50 >50

6J >40 >40
At the time of a market turn, it usually always
we are going to have a three-step process:

1. Exhaustion.

2. Absorption.

3. It began.

To reverse a bullish movement, the lack of interest (exhaustion) of the

buyers continue to buy, the first sale entry by the big players

passive operators (absorption) and the aggressiveness (initiative) of the sellers.

In the opposite way to the example of the bullish turn: exhaustion of the sellers,

passive positioning through the absorption of sales and buyer initiation with
aggression in the ASK.

Essentially, this three-step protocol is nothing more than accumulation processes and

distribution regardless of the time scale in which they occur.

Market. An aggressive order that is executed at the best available buying and selling price.

(Best BID/ASK). Immediate execution that guarantees market entry but not the
specific price at which one has entered due to the constant change in the quotation and to the

application of the Spread.

Limit. Orden pasiva que se ejecuta a un precio específico. Se garantiza la entrada en ese

fixed price but execution is not guaranteed. That is to say, the price might not go.
never visit such a level and therefore we would not enter the market. As long as it does not

executions can be eliminated at any time.

Stop. Passive order that is executed at a specific price. When the price reaches it,

convert into a market order and therefore it is executed at the best price

available (Best BID/ASK).

Stop-Limit. It combines the features of Limit and Stop orders. Once it

reaches a certain price level (stop order function), an order is generated in a

specific level (function of Limit orders). It operates exactly

just like Limit orders.

Based on the four types of orders we just saw, we have the basic orders.
available according to the intention and for what it is used:

Buy Market. Aggressive order at the current price. It is used for:

To enter the market in buying.

to close a short position (either at a profit or a loss).

Buy Stop. Pending order above the current price. It is used for:

To enter the market in buying.

to close a short position (due to Stop Loss)

Buy Limit. Pending order below the current price. It is used for:

To enter the market in buying.

To close a sell position (by Take Profit)

Buy Stop Limit. Pending order below the price after reaching a level.

It is used for:
To enter the market for purchase.

To close a sell position (for Take Profit)

Sell Market. Aggressive order at the current price. It is used for:

To enter the sales market.

To close a buy position (whether in profit or loss).

Sell Stop. Pending order below the current price. It is used

for:

To enter the sales market.

to close a buy position (by Stop Loss).

Sell Limit. Pending order above the current price. Used for:

To enter the sales market.

To close a buy position (by Take Profit)

Sell Stop Limit. Pending order above the price after reaching a level.
It is used for:

To enter the sales market.

To close a buy position (for Take Profit).
Spoofing

It is about the placement of immense amounts of contracts in the BID columns and

ASK (limit orders) without the intention of actually executing them

said orders. The goal is to create a feeling of an 'insurmountable barrier' and provoke that

the price shifts to the opposite side. They are false orders because when the price goes

upon reaching their level, these are canceled and not executed.

It is an interesting concept that values the capability of limit orders with

regarding the price movement. Limit orders by themselves and on their own

nature does not have the ability to move the market, but using this way of

manipulative activity we see how the price can indeed move influenced

for them at certain moments. Not directly based on their execution, but yes

indirectly based on its influence.

Imagine that normally limited order quantities are observed around 50.

contracts by price level. What will the other participants think if suddenly
They observe 500 contracts? Well, the most logical thing is that they see it as a price.

too expensive to pay for the price to cross that level and most likely

causes a lack of interest in going against such orders. And of course, this
it will translate into a movement in the opposite direction of the immense order. Manipulation

by the major operators to drive the price in the direction they want.
Iceberg Orders

It is about the partition of a large limited order into smaller portions.

The motivation for carrying out this type of action has to do with wanting to hide the

actual size of the original order.

Mainly used by institutional operators who want to execute a huge

contract candidates within a specified price range that use algorithms
programmed with this technology to be able to do it passively and without putting the

price against you.

It is important to emphasize that there is only one source behind that order, only one great

operator, not a set of them.

Es muy visual tomar el ejemplo de un Iceberg real. En la superficie lo que se ve es una

contracts candidate apparently normal, but what is not known is that this order

it is simply a part of a much larger whole. And when this small part
It is filled by the market; the large order is quickly replenished.

It is the clearest example of what an absorption would be. There may be

many aggressive buyers pressing the ASK and that all those Buy Markets are

they are crossing with the Sell Limits of an Iceberg order which do not allow the

upward price movement. We will say that an absorption is occurring of

those purchases.
Dumb and Dumber is a setup in which we operate against the trader.
retail that Scott Pulcini refers to as "foolish money or uninformed money."

To do this, we must see a significant stop sign that exceeds the threshold of

active, when this happens most of the time it is retail traders losing their

positions (uninformed money) and there are no real purchases or sales behind (players

big).

We can take advantage of that movement. What we are looking for are stop stops in

the bookmap chart where the market is above or below the

threshold set for us to take a position in the opposite direction.

The operation is taken when we see a stop run and when we see the colored bubble.

corresponding opposite (aggressive market orders), we place the stop above

or below where the buy or sell stop was initiated.

For a more conservative entry with less risk, we can expect a retest at

the stop run area

 PATTERNS BOOKMAP
SETUP NO. 1 DUMB AND DUMBER (D&D)

TAKING SHORT POSITIONS

The threshold of the asset with a POSITIVE value is exceeded.
2. If the Bubble is GREEN
3. Entry into the first RED bubble
4. SL about the GREEN bubble

1st BUBBLE
4. SL ABOUT RED
BUBBLE
GREEN

2. COLOR BUBBLE
GREEN / BLUE

THRESHOLD EXCEEDS THE

LIMIT (U+)
 PATTERNS BOOKMAP
SETUP NO. 1 DUMB AND DUMBER (D&D)

TAKING POSITIONS IN BUY

The threshold of the asset is exceeded with a NEGATIVE value
If the Bubble is RED
3. Entry into the first GREEN bubble
4. SL on the REDbubble

2. COLOR BUBBLE
RED

4. SL BAJO LA FIRST BUBBLE

BUBBLE GREEN/BLUE
RED

THRESHOLD EXCEEDS THE

LIMIT (U-)
Titanic is a setting in which a market encounters an order of

the iceberg hides which immediately rejects the area.

Icebergs are big players (smart money) that surprise the market with

a number of hidden orders that are triggered at the moment they are traded

Visible limit orders in the book.

Icebergs are not always correct in indicating the direction the market will take.

but most of the time they are (more than 70%) and if we see it this way it is a

advantage of knowing in which direction big money is being driven.

To carry out this operation, we must wait for bubbles to enter in the direction of the
iceberg in the direction of the iceberg (Aggressive entry) or when the market moves away from the

iceberg, retest it and then the market orders start to initiate in the

direction of the iceberg. (Conservative entry).

 PATTERNS BOOKMAP
SETUP NO. 2 TITANIC (T)

TAKING SHORT POSITIONS

The threshold of the asset is exceeded with a NEGATIVE value
2. If the Bubble is GREEN
3. Entry into the first RED bubble
4. SL on the GREEN bubble

4. SL ABOUT
GREEN BUBBLE FIRST BUBBLE
red

2. COLOR BUBBLE
VERDE / AZUL

THRESHOLD EXCEEDS THE

LIMIT (U-)
 PATTERNS BOOKMAP
SETUP NO. 2 TITANIC (T)

TAKING LONG POSITIONS

The threshold of the asset with a POSITIVE value is surpassed
2. If the Bubble is RED
3. Entry into the first GREEN bubble
4. SL under the RED bubble

1. FIRST BUBBLE
GREEN / BLUE
4. LOW SL
RED BUBBLE
2. COLOR BUBBLE
RED

THRESHOLD EXCEEDS
LIMIT (U+)
Breaking Ice is a setup in which large amounts of money (funds,

banks, large companies) take a position with hidden iceberg orders which
are exceeded, many times this is reflected in a movement opposite to the iceberg, already

that large amounts of money must abandon their position.

An order can be initiated as soon as the market moves in the opposite direction.

beyond the iceberg and placing our SL above or below where the iceberg is
he took his position (aggressive).

Many times the market will return to test the area where the iceberg occurred and then
it will continue in the opposite direction of the iceberg (retest / fail) we can take position

once we see that the area fails (conservative).

The theory behind this is that the big money that was exceeded is trying to be

taken to the iceberg area as the big operators have realized that

they are wrong and need to exit with the least loss possible.
 PATRONES BOOKMAP
SETUP NO. 3 BREAKING ICE (BI)

TAKING SELL POSITIONS

The ICBERG threshold of the asset is exceeded with a POSITIVE value.
2. If the Bubble is RED
3. Entry into the first GREEN bubble
4. SL on the Red Bubble

1st BUBBLE
4. SL ABOUT GREEN / BLUE
GREEN BUBBLE

2. COLOR BUBBLE
RED

THRESHOLD EXCEEDS THE

LIMIT (U+)
 PATTERNS BOOKMAP
SETUP NO. 3 BREAKING ICE (BI)

TAKING LONG POSITIONS

The asset threshold is exceeded with a POSITIVE value.
2. If the Bubble is RED
3. Entry into the first GREEN bubble
4. SL on the RED bubble
Stop and Hold is a setup where we can see how large ones are triggered.

stops and instead of immediately rejecting the price as happens with the Dumb and

Dumber, the market finds great support which drives the market in the direction of the

stop.

Operations can be taken if the market remains below or above the

stopsy is not immediately rejected (Aggressive).

Many times the market spikes with stop orders, it maintains its direction and

go back to retest the area and operations can be taken when we see a difference

in the color of the bubbles and are heading back to the stop sign. (Conservative).

The market cannot exceed the area of the stops to take the operation.
 PATTERNS BOOKMAP
SETUP NO. 4 STOP AND HOLD (S&H)

TAKING SHORT POSITIONS

The STOPS threshold is exceeded with a negative value (U-)
2. If the Bubble is RED
3. We hope that the market continues in the direction of the STOPS
4. When the market tests the area, we take a position
 PATRONES BOOKMAP
SETUP NO. 4 STOP AND HOLD (S&H)

TAKING BUY POSITIONS

The STOPS threshold is exceeded with a POSITIVE value (U+)
2. If the bubble is GREEN
3. We hope that the market continues in the direction of the STOPS
4. When the market tests the zone, we take a position.
Double Whammyes the best of all configurations is areas where there is a

stop orders (retail traders) abandon their positions awaiting the movements
of iceberg orders that appear in the market to operate in the direction of the iceberg.

Once we observe how the threshold of stop runs and icebergs is surpassed, we can take
position in the direction of the iceberg
 PATRONES BOOKMAP
SETUP NO. 5 DOUBLE WHAMMY (DW)

TAKING SHORT POSITIONS

The STOPS threshold is exceeded with a positive value (U+) at the same time that it is exceeded
shadow of ICEBERGS with a negative value (U-)
2. If the bubble is GREEN
3. Entry into the first RED bubble
4. SL on the GREEN bubble

1. FIRST BUBBLE
4. SL ABOUT RED
GREEN BUBBLE

2. COLOR BUBBLE
BLUE / GREEN

THRESHOLD EXCEEDS THE LIMIT

STOPS +
ICEBERG -
 PATRONES BOOKMAP
SETUP NO. 5 DOUBLE WHAMMY (DW)

TAKING LONG POSITIONS

The threshold of STOPS is exceeded with a NEGATIVE value (U-) at the same time that it is exceeded.
the shadow of ICEBERGS with a POSITIVE value (U+)
2. If the Bubble is RED
3. Entry into the first GREEN bubble
4. SL under the RED bubble

FIRST BUBBLE
GREEN

4. ON LOW 2. COLOR BUBBLE

RED BUBBLE RED

THRESHOLD EXCEEDS THE LIMIT

STOPS
ICEBERG +