The Bounce Back is a great indicator to pinpoint excellent limit order entries. It gets frustrating chasing the trade. Instead of chasing the trade, let the trade come to you.
The bounce back was designed in order to minimize risk while maximizing rewards. After numerous tests on multiple futures and Forex charts, this indicator places suggested limit price levels so you don't have to guess where to place the order. The key in using this indicator is to wait for the trade to come to you and let the trade take off in the direction of the trend.