Timeline
- Liquidity formed: local low 89.604 (left shoulder)
- Structural high 89.722 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 89.550 confirmed
- BOS: close above the structural high 89.722. Quasimodo confirmed
- Price is approaching QML
- Price is approaching QML
- Price is approaching QML
- Price is approaching QML
- Idea cancelled: Expired: price did not return to QML in the allotted time
Why this setup was found
First the market formed a local low 89.604 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 89.550, which is 0.05400 (0.42 ATR) below the left shoulder.
Then price closed above the previous structural high 89.722 (close 89.737). This is a bullish BOS: a break of structure.
The left shoulder zone (89.604–89.615) became the QML level: price often returns here before continuing the move.
Filled bullish imbalance (FVG) overlaps QML by 2%.
There were equal lows nearby: they were what price hunted.
Structure on 15m: bullish (supports the idea).
Structure on 1h: bullish (supports the idea).
On the break candle the aggressive flow went against the break (41% of volume).
Result: the idea was cancelled.
This is a scenario built from market data, not a guarantee of the result.