This my new PRICE ACTION thread. The footprint of the Money. I found with my other charting work on TREND that many times when I would enter the market for Trend, I would have to take heat on a PULLBACK in that Trend. I have indicators that plot the ebb and flow (rhythm) of the Market. I would see in the indicator panel 2 a set-up called the "Slingshot". My focus at the time was to find my set-up, because all successful traders have their set-up. So for the past several weeks I have been researching my set-up and seeing my set-up in the charts.
So this thread is a traders laboratory were I meld the research into my trading charts. I will take the established Slingshot and make it my Slingshot. The title of a price action trade that I am interested in is called the MOF, "Money on Floor". The MOF trade is entering the market at the first pullback of a trend. My research indicates that Buffy developed the trade and the trade uses the BLine and ribbons. And of course there are several other BLine set-up trades.
The basic template that I am working on (not finished) is this:
This template incorporates several pull-back and divergence trades.
This template is a little further along:
The MOF BLine trade is the first pullback of a trend. Where a Slingshot has multiple locations. I placed some arrows to identify a Slingshot trade. The MOF trade is identified in the BLine Study Window with a pullback of trend in the data input panel (price bar panel).
Thank you for reading and please click the "THANKS" button. I look forward to YOUR participation and input.