Timeline
- Liquidity formed: local low 60.720 (left shoulder)
- Structural high 60.810 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 60.420 confirmed
- CHoCH: close above the structural high 60.810. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed above the structural level 60.810
Why this setup was found
First the market formed a local low 60.720 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 60.420, which is 0.3000 (3.73 ATR) below the left shoulder.
Then price closed above the previous structural high 60.810 (close 60.930). This is a bullish CHoCH: a change of market character.
The left shoulder zone (60.720–60.750) became the QML level: price often returns here before continuing the move.
An already touched bullish order block overlaps QML by 33%: big players already built positions in this zone.
Partially filled bullish imbalance (FVG) overlaps QML by 67%.
There were equal lows nearby: they were what price hunted.
Structure on 15m: bearish (against this idea).
Structure on 1h: bearish (against this idea).
On the break candle the aggressive flow went against the break (44% 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.