Timeline
- Liquidity formed: local low 120.9 (left shoulder)
- Structural high 121.2 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 120.8 confirmed
- BOS: close above the structural high 121.2. Quasimodo confirmed
- Price is approaching QML
- Price is approaching QML
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed above the structural level 121.2
Why this setup was found
First the market formed a local low 120.9 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 120.8, which is 0.1000 (0.37 ATR) below the left shoulder.
Then price closed above the previous structural high 121.2 (close 121.2). This is a bullish BOS: a break of structure.
The left shoulder zone (120.9–121) became the QML level: price often returns here before continuing the move.
There were equal lows nearby: they were what price hunted.
Structure on 1h: bearish (against this idea).
On the break candle the aggressive flow went against the break (43% 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.