Timeline
- Liquidity formed: local high 91.320 (left shoulder)
- Structural low 91.050 confirmed
- Price took out the liquidity beyond the left shoulder
- Price took out the liquidity beyond the left shoulder
- Head 91.960 confirmed
- CHoCH: close below the structural low 91.050. Quasimodo confirmed
- Price entered the QML zone
- Idea played out: After touching QML price closed below the structural level 91.050
Why this setup was found
First the market formed a local high 91.320 (left shoulder). Stop orders piled up above it, that is, liquidity.
Then price took that liquidity: the head reached 91.960, which is 0.6400 (1.96 ATR) above the left shoulder.
Then price closed below the previous structural low 91.050 (close 91.040). This is a bearish CHoCH: a change of market character.
The left shoulder zone (91.280–91.320) became the QML level: price often returns here before continuing the move.
Partially filled bearish imbalance (FVG) overlaps QML by 100%.
There were equal highs nearby: they were what price hunted.
Structure on 4h: bullish (against this idea).
On the break candle the aggressive flow went against the break (50% 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.