OrderBlock.net

DOGEUSDT 5m · Quasimodo · long

CANCELLEDClosed · updated 06.10 16:30 UTC · forecast for DOGEUSDT
QML (entry zone)Tap the markers for explanations · time in UTC · delta and CVD below

Timeline

  • Liquidity formed: local low 0.09532 (left shoulder)
  • Structural high 0.09565 confirmed
  • Price took out the liquidity beyond the left shoulder
  • Head 0.09517 confirmed
  • CHoCH: close above the structural high 0.09565. Quasimodo confirmed
  • Price is approaching QML
  • Price is approaching QML
  • Price entered the QML zone
  • Idea cancelled: Close below the head (0.09517)

Why this setup was found

First the market formed a local low 0.09532 (left shoulder). Stop orders piled up below it, that is, liquidity.

Then price took that liquidity: the head reached 0.09517, which is 0.0001500 (0.96 ATR) below the left shoulder.

Then price closed above the previous structural high 0.09565 (close 0.09596). This is a bullish CHoCH: a change of market character.

The left shoulder zone (0.09532–0.09537) became the QML level: price often returns here before continuing the move.

Structure on 15m: bearish (against this idea).

Structure on 1h: bullish (supports the idea).

On the break candle aggressive buyers dominated (64% of volume).

There was no absorption on the candle that returned to QML.

Result: the idea was cancelled.

This is a scenario built from market data, not a guarantee of the result.

Confirmations and contradictions

Liquidity takenConfirmation
Change of character (CHoCH)Confirmation
15m: structure is bearishAgainst
1h: structure is bullishConfirmation
Delta confirms the breakConfirmation
CVD confirmed the headAgainst
No absorption at QMLAgainst
Footprint (from trades)Unknown