👉 Be sure to join our live stream each day here on Youtube 10:30AM -12pm and 1:30pm-4pm each day.
Transcript
Auto-generated from the video audio — expect imperfect punctuation.
What’s going on, guys? So, I continued the series. This is part five of how I get my prop firm payouts. I have parts one, two, three, and four on the channel if you want to go watch them. If you like what I put out, we stream live every day, 10:30 to noon, and then again 2:00 p.m. to about 4:30. Uh, if you like the video, smash the like. Uh, if you want to support the stream, use coupon code. it automatically gives
You the biggest discounts. Um, and I got a whole lot of more information in the description of this video. We have our free Discord. Uh, there’s a whole thing on um, all different prop firms, pros, cons, everything. Everything’s in the description. But, let me get into this. So, just to show somebody asked how we did the other day to show proof. Um, this was how we ended up uh finishing our Friday. Uh, if you want to follow me on Twitter, it’s
Cove Trader. Um, but yeah, so just someone just asked if the everything I was talking about works and it just so happens that’s what I did yesterday. And we had another great day the day before and the day before. But all right, so I went over the mental aspect. I went over um the opening range trade. I went over a couple things. So now we’re progressing through the day and basically these trades happen after the first 15 minute orb is set
Up and the hourly. Basically I have the 15 drawn out. I use these scripts right here. Orb 15, orb 60. Um and it basically just draws it out. I use them for support and resistance. And you kind of get a couple things out of this that I like to play. First, I love the pop through. So, people are like, “Oh, well, how do you know when you it’s going to reject or when it’s going to pop through?” I play the pop
Through when we come up. We do not break over because this is a long way up. We get a little bit of a pullback and then we pop through. And I’ll play that for anywhere, you know, five 10 points to the upside. Um, and then I kind of see what we do above. Uh, I’m looking for I don’t want to keep trading close to it cuz figure picture a basketball. If you drop a basketball from a, you know, not that high,
It’s not going to bounce that high. You can see we only went up here and you got a little bounce, right? and then it kind of trades over and under the I don’t want to trade this at all. I want us to go away from it. Come all the way back and now you get a bounce, you know, cuz now you’re dropping the ball from a higher amount. I like to see like 50 points. Um, we start getting pretty high. So,
This is about 50 12. Yeah. So, it’s a little over 50, something like that. I I’m definitely I’m in on the bounce. I mean, it just it happens too often. Um and then once we kind of do, you know, we set up the 60, which is right here, that’s kind of later on in the day, I’ll play the sellroughs. So, if I see we go through, but we don’t actually continue that high, especially something like this. This is the perfect setup,
Actually. So, we kind of trade through. We kind of hang and we’re not pushing up for that next high. We bounced off the 60. There was no real bounce. I’m going to put a short order right under because if we sell through this, which is support, I know I’m going to get a ton of points. So, I’ll put my order right below. Sure enough, we trade here, we break, and then we break down. Now, obviously, my bias isn’t short the whole
Day. you know, I’m just looking to get, I don’t know, 10, 20 points. We end up getting that and then we trade all the way down to the top of the 15minute orb. I know that’s going to be support. We just traveled from 811 all the way down. We traveled 100 points down. That’s like dropping a basketball from up high. I’m taking the bounce. We bounce. You got, I don’t know, 30 points, you know. Great trade. I’m out. I’m out. Now,
Just like anything, when the basketball bounces a second time, does it have that big of a bounce? No, I’m not looking to take this. If anything, I’m looking just how I took the sell through right here. I’m looking to take the sell through right here. So, I put a short right here. Sure enough, you know, we bounced. I take my profit. We’re kind of trading down. I’m not looking for the bounce anymore. I’m looking for the sell through. We get the
Sell through. you can get 10 15 point scalp and then I’m out. I’m out out. Now, you know, these are on Friday, so I was actually playing this yesterday. So, I’m just kind of going over the, you know, things that I was looking at on Friday. Um, you know, you want to see now, are we going to hit our head on here and drop or are we going to bust through um and take it, you know, take it up again, you
Know, depending on what’s going on. I’m not a huge fan of trading during lunch because you do get a lot of chops. Um, you know, I don’t think I took this up. It was one of those things I usually step away during lunch. I don’t like when we start going through, you know, we pop through, we come back down, we pop through again, we sell off. Also, Trump was talking at this time, so I did not play this. If something like
That news, Trump’s talking, I’m probably just going to sit out of it. Um, so like this would have been a no trade and then the rest of the day obviously when you start trading away from it, um, it doesn’t, you know, there’s no trades to take. So I just kind of go to other things that I look at that I’ll talk about in other videos. Um, you know, this was a prime. I remember this. This was Thursday when we popped through
The hourly. So, we set the hourly, we came through, we popped through, and then uh I was looking for the short on the way down because you shorted your stop loss could either be above this candle or it would be high a day. And sure enough, kind of had like a Yeah, it it this was great. Um, but yeah, something like this, you know, I’m not a huge fan of when the 15 gets set and then you kind of stay right
There. But the fact that we set the 15 and then we came down, was it 30, 40 points, that was to me like, hey, you know, we can go back up here and then we consolidated and then broke through. That was pretty nice, but really technically wasn’t a a orb style play because, you know, you could have played it on the pop through. Um, but then, you know, the consolidation was more like a flag that I was looking for. You know,
The the orb initial balance play was the sell through right here. You could have taken the pop through, which is the pop 87 could have got your 10 points. I actually believe I took this trade to the upside, but I only took it for like a small amount because if you look, we were about to hit 20,100 and I figured that that would be uh resistance. And not only is that resistance, but if we come back and we sell through the
Top of the orb, not the top of the initial balance, that’s going to set up for a great short because you got the resistance at 20,100. Sell back in and you could definitely take it. And sure enough, you could see what happened. I mean, you know, to show a losing trade, I definitely took the top here. And um, you know, I got stopped out. I think I set my stop probably at 19, you know, 8.95. I figured we were approaching 900
Plus. We were approaching the top of the 15. And I definitely took a loss on this trade right here. But you’re not going to win every single trade. But you can kind of see the support and resistance of the areas. You know, you trade back up, gets rejected. You know, you kind of see it. I like to play first touches. Um, and look, you just kind of see what happens. You know, can’t get over it, can’t get over, and then it
Just sells off. Um, but yeah, it’s a uh Let me see if I can see some clean ones. Uh like something like this. We traveled, we bounced, we sold through. You could have got this short being that we touched the top, came back, you got a higher low. So now you’re like, “Hey, if we break this trend to the upside, you got a higher low.” I would be looking for even if we weren’t at the orb, if we broke over this
Candle, I would say that we’re going to get a reversal. The fact that you’re not only going to break, you’re going to kind of get like a double bottom, break over this candle, and on top of that, you’re going to get back over the 15-minute orb. That’s an awesome setup. That is a really good setup. Now, mind you, like, you know, I’m playing a lot of the sweepthroughs, you know, I I love stuff like that. I love the bounces. Um, you
Know, so if you got questions on this, there’s a bunch of different ways you could play it. um comment, ask on the live stream. I can go over it in live like live trades that I put on. I always talk about this. Um but that’s how I mostly play. I’m I’m either looking depending on how we go about things. So something like this where we trade up, we don’t actually go to the top, we stop, we consolidate. I would be looking
To play this long out of this and especially the pop through which is through here and you would have definitely gotten um you know definitely gotten points. So let me just I’m just looking at a couple. I have a whole back test video. Um, when I mention sweeps, I’m looking for um, you know, like this dropping below the initial bounce and then back through. This was a straight up down day. Um, but yeah, you know, here’s some sweeps. You go back
In the 15. Uh, you could have grabbed, you know, could have grabbed 10 10 plus points on the way up. you know, move your, you know, stop to break even or just get out and then if you come back through the bottom, you could play it back to the bottom side and then, you know, support becomes resistance. You could see you come back and then drop. Um, yeah, I love the sweep of liquidity though, like something like this where you sweep
Under and then back through. But what I don’t like is something like this. I don’t want to see us trading over the line, under like that completely out on. I will just sit there and say, “Hey, that’s not what I’m looking for.” I might take like one loss, but uh after that, I just watch and I see we’re chopping over it. I’m I’m out. So, you got to know when to kind of step out when you’re starting to see chop. And
That’s kind of, you know, something like this. Hey, you know, this would be the play. Hit the top, kind of traded all the way back down to the bottom. They actually swept. I actually took this trade. This was Monday. I This is the trade I took. We swept down below and I put my buy right here and sure enough and we swept down and then we came back up and that was what 85. I mean, you could have, you know, you
Could be done for the day with that one trade. But I hope you get the gist of it. If you uh want more, just ask me on the live stream, ask in the comments, ask in the Discord, and I uh I’ll help you out.
Leave a Reply