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back to BLine  chop

Q: I know that MOFs are supposed to catch the first Lower High or Higher Low after change in color/trend of long term stoch. 
I have reviewed lots of MOF charts and it is a great setup. 

In the charts that I have been following, I have noticed that frequently the LT Stoch will change color during the retracement in
the MOF setup.  The MOF is often still successful.  But, I am wondering if that means that I am looking at too short a tf, or what?

A: you got it - they can get real "sloppy" on low time frames.
What I watch for is spread and distance on higher tf and then look for mof on next lower

Here is an example of MOF "failure" due to higher time frame


I am studying the MOF and slingshot setup. The following chart is from yesterday’s simulation trade on NQ. I marked three red circles on this chart. 

I have a couple of question regarding this chart.


 chart by Xiaoming

Q1)       At the first red circle, it seems to me that it is MOF setup. The price made a LL and LH and the ST stoch touch the LT stoch. The MACD made a divergence. In the Bline window, the trend is going down and the fast line touched the overbought zone. It seems to me that it is good MOF setup. However, as the price unfolds, it failed. I understand that MOF is a very high percentage winning trade. But if you just look at the chart, will you think it is a MOF setup and take the trade?  

A1- Yes this is an MOF on this TF BUT if you look at your 1064 you will see it is against a rising bline, LT 2x k over d.  There that makes it a TMAR trade and you should only expect the last swing low to take profits.

Q2)       At the third red circle, it seems to me that it is a slingshot setup. Similarly, this setup failed too. My question again is what you think about this setup. I did notice that the price level 1419 is the previous day’s high. The price just tested this high and then retreated. This may ring a bell that this slingshot setup may not work.

A2- Once again if you look at the higher tf for trend you will see that everything is in sell zone and the ribbons and it looks like retracement in order to set up an MOF up on the higher tf.

 An MOF or Sling with the ribbons and macd on higher tf is going to have more reward than doing a tmar on one that isn't with it.  Our data is a little different but hopefully this will show with your.  I am pretty sure the first one will but maybe not the second one.

Any comments or thoughts on how you look at these two setups would be highly appreciated!

Very good questions and nice chart.  Keep the questions coming.

Q) How do you determine chop  ?

A) when indicators are saying price should be doing something and it isn't - like retracing - then it is usually going to continue.
Also when we see an indicator setup that goes no where, it is our first indication of chop.



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