Timeline
- Liquidity formed: local low 9.053 (left shoulder)
- Structural high 9.084 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 9.052 confirmed
- CHoCH: close above the structural high 9.084. Quasimodo confirmed
- Price is approaching QML
- Price is approaching QML
- Idea cancelled: Close below the head (9.052)
Why this setup was found
First the market formed a local low 9.053 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 9.052, which is 0.001000 (0.04 ATR) below the left shoulder.
Then price closed above the previous structural high 9.084 (close 9.089). This is a bullish CHoCH: a change of market character.
The left shoulder zone (9.053–9.058) became the QML level: price often returns here before continuing the move.
There were equal lows nearby: they were what price hunted.
Structure on 15m: bearish (against this idea).
Structure on 1h: bullish (supports the idea).
On the break candle the aggressive flow went against the break (44% of volume).
Result: the idea was cancelled.
This is a scenario built from market data, not a guarantee of the result.