RLCUSDT 5m · Quasimodo · short
WAITING FOR A RETURN TO QMLOpen · updated 06.10 19:30 UTC · forecast for RLCUSDTTimeline
- Liquidity formed: local high 0.8889 (left shoulder)
- Structural low 0.8603 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 0.8986 confirmed
- CHoCH: close below the structural low 0.8603. Quasimodo confirmed
Why this setup was found
First the market formed a local high 0.8889 (left shoulder). Stop orders piled up above it, that is, liquidity.
Then price took that liquidity: the head reached 0.8986, which is 0.009700 (0.32 ATR) above the left shoulder.
Then price closed below the previous structural low 0.8603 (close 0.8283). This is a bearish CHoCH: a change of market character.
The left shoulder zone (0.8752–0.8889) became the QML level: price often returns here before continuing the move.
A fresh bearish order block overlaps QML by 5%: big players already built positions in this zone.
There were equal highs nearby: they were what price hunted.
Structure on 15m: bearish (supports the idea).
Structure on 1h: bearish (supports the idea).
On the break candle aggressive sellers dominated (58% of volume).
Now: waiting for price to return to QML.
This is a scenario built from market data, not a guarantee of the result.