This can be done in the lower timeframes like hourly and even minutes...gee I hate these lower TF's because I'm not really good in these lower environments. But to evolve and to take bigger steps, one has to leave the comfort zone. So do I...
OK, here is a trade I consider:
If price closes below the L-MLH (white), I would stalk a short trade.
My idea is to wait for a potential pullback, a test/retest.
Hunt mode on...
This is the part where it get's a little hairy, because now I want to be patient.
While I sit on my hands, price could simple leave without me if I was trading the underlying. That's the price of being patient.
And here comes another part of my method, using options as a vehicle to trade:
Because options add time to my trade, I could play this game immediately with a DebitSpread, or CallsSpread or RiskReversal and don't had to wait for that pullback.
But since I know that after a Centerline break there is most often a pullback, I wait and prepare for the sniper-shot.
If it does, I enter this guy short.
Here's the new game plan:
If price shoots through the Mini-Fork, then a new potential trade is cooking.