Timeline
- Liquidity formed: local low 795.1 (left shoulder)
- Structural high 796.9 confirmed
- Price took out the liquidity beyond the left shoulder
- Price took out the liquidity beyond the left shoulder
- Head 794.9 confirmed
- BOS: close above the structural high 796.9. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea cancelled: Close below the head (794.9)
Why this setup was found
First the market formed a local low 795.1 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 794.9, which is 0.1400 (0.12 ATR) below the left shoulder.
Then price closed above the previous structural high 796.9 (close 797.1). This is a bullish BOS: a break of structure.
The left shoulder zone (795.1–796) 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: bullish (supports the idea).
On the break candle aggressive buyers dominated (51% 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.