Timeline
- Liquidity formed: local high 12.069 (left shoulder)
- Structural low 11.919 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 12.150 confirmed
- CHoCH: close below the structural low 11.919. Quasimodo confirmed
- Price is approaching QML
- Idea cancelled: Close above the head (12.150)
Why this setup was found
First the market formed a local high 12.069 (left shoulder). Stop orders piled up above it, that is, liquidity.
Then price took that liquidity: the head reached 12.150, which is 0.08100 (0.88 ATR) above the left shoulder.
Then price closed below the previous structural low 11.919 (close 11.904). This is a bearish CHoCH: a change of market character.
The left shoulder zone (12.050–12.069) became the QML level: price often returns here before continuing the move.
There were equal highs nearby: they were what price hunted.
Structure on 1h: bearish (supports the idea).
On the break candle aggressive sellers dominated (73% of volume).
Result: the idea was cancelled.
This is a scenario built from market data, not a guarantee of the result.