👉 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.
Welcome to another strategy session um I said yesterday if you watched my video I wanted to back test the orb bounces on the 15 and the hourly if we went up at least 25 points and then back down to retouch and then 50 points to retouch I just think like if you go up 10 points and retouch that’s not enough for me I want to see some type of uh you know some type of real move um and then if we
Get the bounce um yeah if if you like these types of videos smash the like button subscribe we stream live every single day so be sure to uh jump on the stream it’s uh 10:30 to noon and again 2 to 4:30 and uh if you want to support the channel use the coupon code Cove Trader but uh let’s get into this I’m going to basically start here I have my sheet on my other screen and let’s see what we got rocking
Here this is as far as the data goes back so this is kind of what I was saying like we broke over the 15 says 40 That’s 25 points you’d come back so 40 I don’t know what my stop loss would be um I would say on something like this I’m looking for 15 points or more to the upside I’m probably willing to hold 10 so we’ll just say I’m going to call this a loss even though it bounced um maybe
You would have gotten Wicked out and re-entered probably but you know I’m keeping it real 15 points this is more then 25 and this is freaking awesome 50 points you would have gotten it this obviously this is more than 50 come back to the hourly and you would have gotten it yes being that we didn’t go up like 25 and bounce that play would have been null and voided even if you went up again you know whatever so then let’s go
To the next day I think I just move that I have to readjust that all right that’s not enough what what do we at here anyways 20 204 so right here you would have gotten enough you would have come back down you would have definitely definitely got it yes on the 255 34 that’s that’s 25 points would have been a big uh no no on the bounce now this is where you would have gotten your 50p point [Music] move you come
Back down 203 and you would have gotten your 50 Point move on there we do not 39 you know what’s crazy is though so I actually I leg into some of these I probably would have grabbed it at 40 and then again another order at 35 um I’m not going to mark that as a win but I’m just saying I don’t just sit at the line sometimes depending on what type of day we’re having so if we’re having like a trend
Day like this I’m probably buying that I just tell you that on the Stream So you get in the same type of thought process you know if you’re seeing us Trend you got to know 37 oh man that just hits 25 you come down basically within three points 40 to that’s not that’s a 10-point bounce that probably wouldn’t have done it you would have gotten stopped out 20 points would have been a noo no the hourly you broke over the hourly
65 you would have gotten your 20 points you obviously bounce 64 to yeah you that would have been a win it would have been a win even if you you know kept holding holding then would have been a nice win so 64 24 yes um this is you would have gotten your 50 points cuz 50 points up would have been here and then you finally Trend all the way back down this is close enough for a touch and then you would
Have gotten your 50 points on damn we’re three for three if you’re 50 points up right now and then we don’t touch we’re back at it here so I was contemplating doing the bottom it just doesn’t work out I don’t know why I you know like prime example right I we’ll just talk about it I’m not going to track it but like you go down and obviously more times than not you trade through you know you would have gotten you would
Have gotten smoked out there I don’t even think you get enough points you don’t even get enough points here no nope 46 that’s not enough 45 to oh you would have just missed you you know it’s about 25 points it really is because this line is at 45 20 points is 70 you hit 69 I probably would have said that would have been good enough 45 yeah you would have gotten your 20 points you would have gotten not 50 H you
Know what no that’s what happened at 2 o’ this is the end of the day Monday um we didn’t really get anything here we basically just sold through sold through see this is one that obviously you could cherry pick but like you far enough away that if you come back it’s interesting I don’t know I don’t love it as much I just don’t it obviously worked again here how many points was that 30 all right so we break over at 77
You basically get 25 points you come back and then you got it 25 points is a yes remember it’s only the first time only the first time you would have gotten this to the downside I could do the downside another video I’m just doing the UPS let me see what we got here wouldn’t have happened nothing are we within like four points I mean see like that’s another one I probably get I probably get filled at like the bottom but let’s
Just see if we actually make contact we don’t actually make contact obviously it would have been a win uh 35 would have been a 25 point I’m not even going to mark that as the win but 97 it’s not 25 points this is 25 points that’s 25 points and you would have won we do not go high enough for the hourly and you know here’s an example we draw oh no this is yeah the bottom that’s why I like the trade
Through actually this was an awesome trade I remember I took this this we dropped and then we s yeah that was awesome trade um what do we got here 97 not enough you would have lost on that from the bottom if you took it all right so we got here [Music] 51 that’s only 15 points dud that would have [Music] been that’s still not 50 40 points but it’s enough for 25 you would have bounced at 51 yeah you would have
Gotten a that’s 25 to 50 I can’t call it 50 because it’s really only 40 it’s really only 40 points but I’m going to talk about this at the end of the video I’m just seeing certain things that are glaring 95 you would have gotten it you would have gotten back in at 95 and you would have I mean you would have gotten almost 15 points nothing nothing 60 67 it’s only 20 that’s only 20 points wasn’t even enough didn’t even
Get enough for the trade 304 four not enough this would have been enough you would have come so for the hourly you would have went 17 that’s 25 you would bounce at 17 You’ have gotten it D I’m going to be honest with you this is getting really freaking interesting oh man we dump Dum all right we trade below the whole time and this is what I’m saying like you know we come down trade through like it just doesn’t work the
Same from under 309 dude is that really that many points 309 uh it’s like 24ish is it yeah probably would have taken [Music] 310 yeah it’s 25 points on the dot that’s an L that’s a loss we never retouch the hourly oh that was it that was all the days okay so that was actually much faster than the other thing all right so here it is um I don’t know how many trading days that was let me just look I think
It was from the second so it’s one two three all right so it’s 15 trading days right it’s not a ton of data and here’s why the 15minute orb has gone up 25 points and come back 1 two 3 four five 6 7even about half the time you would have been right only four out of four out of seven times that’s not amazing but three three of the 15 times it’s been right 100% when it’s done 50 points up when you
Came back it was right three out of 15 the hourly up 25 points comeback was right four out of five and the hourly up 50 points points and comes back was right 100% of the time so basically what’s interesting is I’m going to keep an eye on the 15 minute for 25 points but the hourly has been has been great and anytime you go 15 50 points or above it’s almost like a like for me it’s going to be a mus
Trade um it’s been right four out of four times um in the last 15 trading days so that leads me to believe I I like it even the uh even the 15minute orb for 25 points up you know if we go all the way back to where we started which was right here you know even when even when it quote unquote even when it didn’t work because remember we took the loss here I mean it really worked you know like it
Really worked um what’s interesting is I I think I really like that trade I’m liking these trades of the retest not a retest like this just a little bit I’m looking for actually going significant you know not significantly but 2550 points and then retest um I’m liking it I’m liking it I think I’m going to start adding it to my uh my trades so I back tested I obviously need more data I don’t go further back so as we go forward
I will uh I will put this on my spreadsheet and um I’ll be sharing the results with you guys but that’s what we got so far and um out of all these trades you’d have taken 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 you’d have taken 16 trades in 15 trading days and you would have been right one two three four five six 7even 8 9 10 11 you would have been right 12 out
Of 16 times sometimes for massive gains too so I’m good for 12 out of 16 works for me so what is that uh 75% of the time so there you have it and I will keep uh I’ll keep jotting it down
Leave a Reply