Timeline
- Liquidity formed: local low 0.3852 (left shoulder)
- Structural high 0.3941 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 0.3849 confirmed
- CHoCH: close above the structural high 0.3941. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed above the structural level 0.3941
Why this setup was found
First the market formed a local low 0.3852 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 0.3849, which is 0.0003700 (0.07 ATR) below the left shoulder.
Then price closed above the previous structural high 0.3941 (close 0.4042). This is a bullish CHoCH: a change of market character.
The left shoulder zone (0.3852–0.3884) became the QML level: price often returns here before continuing the move.
An already touched bullish order block overlaps QML by 2%: big players already built positions in this zone.
Structure on 15m: bearish (against this idea).
Structure on 1h: bullish (supports the idea).
On the break candle aggressive buyers dominated (57% 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.