Timeline
- Liquidity formed: local low 101.3 (left shoulder)
- Structural high 101.6 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 101.1 confirmed
- CHoCH: close above the structural high 101.5. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed above the structural level 101.5
Why this setup was found
First the market formed a local low 101.3 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 101.1, which is 0.1600 (0.62 ATR) below the left shoulder.
Then price closed above the previous structural high 101.6 (close 101.7). This is a bullish CHoCH: a change of market character.
The left shoulder zone (101.3–101.3) became the QML level: price often returns here before continuing the move.
There were equal lows nearby: they were what price hunted.
Structure on 1h: bearish (against this idea).
On the break candle aggressive buyers dominated (60% of volume).
There was no absorption on the candle that returned to QML.
Result: the pattern played out and is closed for tracking.
This is a scenario built from market data, not a guarantee of the result.