✅ 40% Off Take Profit Trader Coupon Code COVETRADER
Transcript
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What’s going on guys so today’s is going to be an interesting video I’m actually going to back test the 15minute opening range trade and the hourly opening range trade um I got a couple things on back testing one if we bounce at the line um rejected the line we trade through it and then back in or uh we just trade out and when it trades out what it does um if you want to skip to the results obviously go towards the
End of the video um if you like what you see come on the live stream every day 10:30 to noon and 2: to 4:30 and if you want to support the stream use coupon code Cove Trader uh when getting prop firm accounts works everywhere so um here I am I got an Excel sheet on my other screen and I’m just going to go over some of the things cuz I personally like the the trade through and back in so right here
I’m only looking to get 15 points will I get more possibly it’s kind of what I’m looking for here so the white lines are the 15minute the green is the hourly so basically we sweep and come back in so that’s the first time so that’s a a through and trade through trade through back in for 15 points yes through the top comes back in obviously get uh 15 points yes bottom yes top did it bounce um no it traded through no
Through I’m doing first first time and then second time so after this we actually have nothing um the hourly when it broke also when it broke this I don’t like playing the break because a lot of the times you’re playing with fire where it breaks and comes right back see I’m not liking that yeah you might be able to get 10 15 points it’s not really a good trade and I’m going to watch that as we back test now I what
I do like is after the first time after after the time um trade through continue yes second time we traded through and um the hourly we just traded right through traded through and back out yeah traded through for 15 points yep not much after that that was pretty much it all right when you have the overlapping the green and white it’s the same and then as you can see it moves so obviously you get the bounce here first touch is bounc
This first time we trade through 68 to 95 yep trade throughs would be two for two basically trade through to me is you trade through you come back in the range and up at least 15 points um this is a second time see for me personally like some of this is kind of like I would obviously look at this and I would probably end up shorting somewhere somewhere here anyways just cuz the formation is getting weak you’re getting lower highs and
It looks like it’s kind of rolling so I would have probably have shorted this for something over here anyways um all right so you got the hourly this would be the hourly bounce you break it oh no actually you don’t even have the hourly set here the hourly set is right here you this is the first it’s kind of weird when you trade through the hourly the first time I’m just let’s just see what happens 97 to 82 you would have
Traded through 98 yeah I mean you would have got your 15 points you would have gotten it went upwards of 17 yep still sick guys um now times after you look at I I I’m not really looking at times after to be honest with you um I’m looking for the first time because what happens is you know look you trade over um and then you come back in honestly your bias kind of changes though like when you’re trading below I would
Be looking for the opposite here which would be um trade into the orb and then come back out for a short so that’s why I’m only doing the first time it touches because after kind of depends on how the day is going so if the day is not going it’s going bearish I’m looking for these times where we trade in and then come back through more than um I am to go back up to the top side you know and as
You could see this is a end up being a bearish day that’s why I don’t look for that I’m I’m looking for basically the first time so this would have been essentially the first time it traed Tred through the 15 oh what do we got 303 and it went as high as 306 so broke basically took people’s stop losses I guess and then Wicked straight down you would have easily gotten your 15 points so right now we’re three for three for
Trading through and coming back in and then obviously I don’t like when this starts to happen when you start trading above and you know I’m probably out um but the hourly has not been set um you get your first close above here you trade back in and obviously um you would have gotten stopped out I don’t know if I would have taken this I’m going to mark it as a no but honestly I’m probably not shorting this I probably short this
Because you go from dipping at the open to ripping to the top of the range that I probably take a short on that but after consolidating up here I’m probably looking Longs I’m probably looking to take this over more than I’m looking to take it to the downside it’s not until you get lower high highs which is lower highs lower highs that I would be looking to take it back under the range for a short you know I’m not going to
Mark that as a yes or no I’m just kind of giving you my thought process on what I would be looking at but once you trade back into the orb look what happens we came out obviously this is a ton a ton of chop I probably would have stayed out of this um actually I remember this on the stream cuz this was only Wednesday um I was I was short bias being that we kept coming under under under and then I
Believe I got this and that was it I thought I did good here on the short and then we just contined down um but that’s why these orbs work early on in the day because the bias for the day can change you know right here you’re super bullish and then um you know once you trade back in and then you kind of get stuck under the under the hourly and then under the 15 you kind of get short bias so that’s
Why I’m only doing the first touches pretty much but looking just kind of giving you my insight man this is a another trade through orb is set orb is set technically see how this green line is above the white that means it traded through the 15minute orb that means it Wicked over by I don’t know a point or two and came back in um and then you trade all the way down to the downside and then you Wick below the 15
Again and then once you trade back in 80 yeah you got 24 points I mean you’re four for four right now obviously you could say all you can keep trading it I’m I’m looking for the first one it’s just like dropping a ball uh you know the first bounce is always the biggest bounce for the most part obviously not in this case but you know what I’m saying my confidence level in the first bounce is always the highest sorry guys man
I got the flu still and I’m just trying to make this video but I’ve wanted a back test and I wasn’t even going to make this public but M as well um you got the hourly set here you know my bias would be long you know look how we go we’re under the orb we’re set and obviously once you trade through you’re kind of breaking this trend anyways it’s a really good trade setup and then you could just see how you
Trade or you know opening range to opening range a lot of the times look you sweep above and you come back in you know even this look you Wick people like oh well you know it Wicked here okay it did it Wicked and if you would have caught this short 66 you would have got 10 points not a ton not a ton would I have shorted that I don’t know man you know why I probably wouldn’t have shorted it I would
Have wanted to see this push hit the top and because this push did not hit the top we did not go from the bottom of the range to the top we went to here you pulled back you gained energy you you know and then once you broke above 57 that’s positive I would have said you’re going higher and then this is the first time we break below the uh oh it’s actually after hours I I wouldn’t have traded after hours but
This is the first time we broke below the hourly orb and sure enough when you come back in it trades back up another win dude this is uh oh these contracts end okay luckily I I still have the data nice all right so let’s see what we got here um hourly is set this is set for the 15 trade above come back in 51 you would have gotten 10 points it’s not the 15 I was looking for to be honest with
You so I’d probably say no but I probably would have moved my stop loss and gotten taken out for Break Even once I go up 10 points I’m moving that stop you guys seen me trade actually you seen me trade I probably would have been out and got my profit but for the purpose of the video um I honestly I probably would have taken that long I would have probably shorted it once we went back over I probably would have taken
It long and stopped Out Below that candle um we Wicked above would have gotten short oh no here it is it was actually set right here see this is one of those things again where you where the hourly gets set and you’re kind of wicking it gets set on the last candle every time it gets set on the last candle there’s always some funky that goes on so here I’ll just take it set in the last candle we Wick up come
Back in what is it 96 yeah you you would have 96 to 883 it’s not the 15 points you would have gotten at least move to break even I do think it’s funky when the hourly gets set on the last candle and then all this Wick whack I’m out on and just takes off um yeah so you would have broken even trade the 15minute orb uh sweep back in has really been positive 100% oh man this would this one would have
Been money jeez so here’s the 15minute sweep above see this is another time where the orb is set on the last candle you go up man you know for purposes you would have gotten oh actually this candle dropped too I wasn’t even looking at that it’s 95 to you would have gotten 10 points would have broken above honestly once you came back in I probably would have I would have resorted this thing and I would have stayed in I would have
Gotten paid paid um this is last Friday yeah I remember this cuz I took the bounce off this and got hosed I shorted made money and then I figured we were going to bounce we didn’t bounce hey sometimes it doesn’t always work there was no hourly was there yeah there was an hourly play look we broke the hourly once we trade back through it see I feel like a lot of people play the break out of the Zone but that doesn’t
That works very little not sure I like the break out of the zone I’m marking stuff up on my other screen um you know I guess the break would have worked here but look you break the break to me is always a lesser trade you know you break the 15minute yeah you know but once you come back in I mean that’s a massive trade and then the trade is done like I’m not looking to do it again you know I’m talking
About the first time it does it you could even say this is the first time it does it Wicks blow right here and then comes up hourly is set hourly is set see I like this the hourly is set not on the LA you know well even though on the last candle but what’s good is it doesn’t sweep sweeps up here you would have made money see if you would have played the break of the hourly you would have got hosed
You know you’re looking to play trade back in you would have got paid twice twice again oh let’s see what happens we we we trade through never see the orb again and it happens you know I’m not going to say it doesn’t happen I don’t know if there was news this day this is Wednesday um you know that’s another thing you got to look at economic calendar I’m just going to bring it up real quick uh do I have weeks past
I’m just seeing if I can get uh the site I go to doesn’t doesn’t have it there might have been um there might have been news I mean for us to just rip 8 oh yeah there was definitely news look 8:30 news if there’s 8:30 news and it really good I mean I’m just going to be honest with you you’re probably not looking to to sell through you’re probably looking to play The Break um but let’s see what happens this is
The hourly orb oh that’s interesting I mean would I been waiting all day for this I don’t know I mean 37 you know what would you have gotten 10 points um yeah I don’t know about this news kind of messes things up a little bit this is again trade through trade through come back in what I’m just curious what would 78 oh yeah I wouldn’t have got stopped out right here look you trade through I wouldn’t have got stopped out because
Honestly I would have put my stop if anything when we trade through my stop would have been the top would have gotten paid I don’t mind this trade by the way guys I’m not back to testing this right now but I don’t mind this trade where you come up you break through you go far enough and you retest and then go I I don’t know if I if the data is there to support it right now I got to look I
Am liking the trade through though look we we don’t trade through the hourly though we trade through the hourly finally here 505 you would have gotten 10 points so what I’m realizing is when they don’t work you’re still getting 10 points out of the move so it seems like if you wait for the first one if you’re taking a 10 I I said 15 points but if you’re taking a 10-point grab with a 10-point stop you’re probably going to win like
Almost 90% of the time I mean you’re watching me go through we hit 10 points would have been I don’t know five for five six for six look at this trade through would have gotten paid I wouldn’t have taken this what I might have done is when it trades back through take it my stop would have been the hourly orb take it again but I’m not back testing that I’m just saying what my mind would have done during the trading day
Um again look set trade through and then um 45 to yeah you would have gotten 15 points see I think people are looking for either the bounce a lot but the real money is at the trade through because a lot of times it does sweep above um a lot of times it does sweep above and then comes back in this had 8:30 news this is 8:30 you can see this candle 8:30 news let’s see what happens yeah yeah I don’t know
If I would have taken this for purposes you would have lost obviously you would have uh you would have gotten five points and then it would have came back up it would have dropped you probably wouldn’t have gotten stopped out you probably would have been in it and been like yay we’re back below and then you would have gotten stopped out that would been yeah and then I don’t think it trades back in the it doesn’t trade back in the orb
The rest of the day for the 15 that’s a you know that’s what news does people uh I’m going to do one more I’ve seen enough of the data that this works trade through when I say trade through it goes through I’m putting my short order right here so when it comes back in I get filled you would have won again I probably would not have shorted this to be 100% honest um the reasoning is we are trending up for the
Day I probably would have tried playing a bounce off of this if anything um and that we really didn’t trade through I probably wouldn’t have tried to short it um you know because this is the first time retest I probably would have I probably would have shorted here um I probably would have gotten stopped for Break Even most likely and even though it would have worked out here I probably would have gotten taken out um you know it’s just that’s a
Strong ass move might not have been something I was going to get in front of I don’t know you can mark it as an L but I mean I would have put my order I would have got bottom ticked I would have got stopped out if I took it I probably wouldn’t have but for the purpose of this it’s a loss but let me see one more man man if you’re still watching kudos to you guys oh man 203 probably would
Have taken it let me see what do we got would have gotten 15 points would have Wicked it I wouldn’t have got stopped out yeah you can count this as the trade through I guess 33 see some people have different definitions like some people say the minute candle has to close above for me to say it traded through so like this would be the first trade through I don’t I don’t agree because I feel like they Wick it above and they
Get people to either stop on their short or get their buys because they think it’s going to break through and then they drop it on you um but yeah this trade through was awesome I probably would have looked for the bounce right here because it looks like it’s going to bounce probably would have got stopped out on the bounce and then would have made the money back on the short just being honest but obviously the trade through here worked all right
Last one I’ve said last one a couple times already and then um so in theory this is the first time it goes over obviously this is a loser 839 you’d have gotten five points my stop would have been right here and I would have got out for minus five five points finally trades through here I’ll be honest with you though this trades through like this and they buy it right the F back up I’m probably going to take that long trade
Through and then dump the first time would have would have paid see I would do a back test where if we go over call it if we go over 20 points do we bounce at the 50 15minute orb but I want to see us go 20 25 points and then come back in not not something like this this wouldn’t count for me I would want 40 you know 65 I would have wanted something like this definitely something like this I probably
Back test 25 points and 50 points above that if you come back to the 15minute orb dewy bounce given a you know maybe a 10 15 Point stop loss all right so obviously I marked up a couple things the data is definitely the answer is if you trade through on the 15 minute and come back in you’re going to get at least 10 points the majority of the time you’re going to get more um that’s kind of what my back testing
Is showing me um you know the markets what the I don’t even know what happened there is that the end of the data I took it to the end guys oh that’s crazy yep that’s the end of the data that’s because we switch contracts maybe because we switch contracts end of the month I don’t know maybe I can only go back to the beginning of the month on the minute chart so that’s the data for trading through the opening range 15
Minute and then when you trade back in and for the hourly um the trade obviously works more than 50% of the time the first six that I back tested were I you would have made you would have made well the first four were yes I think yeah first four were yes and then the next two you would have gotten 10 or or 12 points so if you did 10 points you would have been six for six so that right there shows
You I mean you would have had to lose a ton after that and we didn’t um I’m just eyeballing but I jot it down but it 10 points works like 80 85% of the time at least um and I’m going to start doing it it’s a nice trade um I might reback test and see how many points you could typically typically get but I think 10 15 points is where I’m going to draw my line and when we hit 10 points
What I I’m going to I move my stop to break even so that’s how I’m going to trade this going forward is I am going to get short or long and then once we’re above 10 points in the profit I’m going to move my stop at break even and then as we move up I will um I’ll move my stop loss up it seems to uh work out and um yeah so that’s it all right I’ll see you guys on the
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