Timeline
- Liquidity formed: local high 9.076 (left shoulder)
- Structural low 9.037 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 9.077 confirmed
- BOS: close below the structural low 9.037. Quasimodo confirmed
- Price is approaching QML
- Price is approaching QML
- Price is approaching QML
- Price is approaching QML
- Idea cancelled: Close above the head (9.077)
Why this setup was found
First the market formed a local high 9.076 (left shoulder). Stop orders piled up above it, that is, liquidity.
Then price took that liquidity: the head reached 9.077, which is 0.001000 (0.06 ATR) above the left shoulder.
Then price closed below the previous structural low 9.037 (close 9.031). This is a bearish BOS: a break of structure.
The left shoulder zone (9.068–9.076) became the QML level: price often returns here before continuing the move.
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 (81% of volume).
Result: the idea was cancelled.
This is a scenario built from market data, not a guarantee of the result.