Timeline
- Liquidity formed: local low 9.030 (left shoulder)
- Structural high 9.056 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 9.022 confirmed
- CHoCH: close above the structural high 9.056. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed above the structural level 9.056
Why this setup was found
First the market formed a local low 9.030 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 9.022, which is 0.008000 (0.43 ATR) below the left shoulder.
Then price closed above the previous structural high 9.056 (close 9.066). This is a bullish CHoCH: a change of market character.
The left shoulder zone (9.030–9.033) became the QML level: price often returns here before continuing the move.
There were equal lows nearby: they were what price hunted.
Structure on 15m: bullish (supports the idea).
Structure on 1h: bearish (against this 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.