Timeline
- Liquidity formed: local low 794.9 (left shoulder)
- Structural high 797.8 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 793.6 confirmed
- CHoCH: close above the structural high 797.8. Quasimodo confirmed
- Price entered the QML zone
- Idea cancelled: Close below the head (793.6)
Why this setup was found
First the market formed a local low 794.9 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 793.6, which is 1.360 (0.85 ATR) below the left shoulder.
Then price closed above the previous structural high 797.8 (close 797.8). This is a bullish CHoCH: a change of market character.
The left shoulder zone (794.9–796) became the QML level: price often returns here before continuing the move.
Structure on 1h: bullish (supports the idea).
On the break candle aggressive buyers dominated (50% of volume).
There was no absorption on the candle that returned to QML.
Result: the idea was cancelled.
This is a scenario built from market data, not a guarantee of the result.