Timeline
- Liquidity formed: local high 0.006458 (left shoulder)
- Structural low 0.006371 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 0.006509 confirmed
- CHoCH: close below the structural low 0.006371. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed below the structural level 0.006371
Why this setup was found
First the market formed a local high 0.006458 (left shoulder). Stop orders piled up above it, that is, liquidity.
Then price took that liquidity: the head reached 0.006509, which is 0.00005100 (1.35 ATR) above the left shoulder.
Then price closed below the previous structural low 0.006371 (close 0.006357). This is a bearish CHoCH: a change of market character.
The left shoulder zone (0.006438–0.006458) became the QML level: price often returns here before continuing the move.
Filled bearish imbalance (FVG) overlaps QML by 30%.
There were equal highs nearby: they were what price hunted.
Structure on 15m: bullish (against this idea).
Structure on 1h: bullish (against this idea).
On the break candle aggressive sellers dominated (62% of volume).
There was absorption on the candle that returned to QML: big volume, aggressive flow against the move and a close with a bounce.
Result: the pattern played out and is closed for tracking.
This is a scenario built from market data, not a guarantee of the result.