Backing on the fav in-play if it was leading at the start
At 30 seconds after the event goes in-play determine the favorite, but do not take any action at that moment. Once the determined favorite has reached a value of 1.2, back it at a price of 1.15. If the favorite doesn't reach that value skip the event.
We need the first trigger to remember the favourite at 30 sec after the off, and the second trigger to back on it if it gets priced 1.2 or less. The first trigger's action is therefore "remember". The second trigger's conditions contain the sentence "Any Selection's Affected by Trigger", which searches for the selections that were remembered by the first trigger. The second condition simply checks whether these selection(s) has the appropriate price at the moment, and backs if it does.