Timeline
- Liquidity formed: local low 89.794 (left shoulder)
- Structural high 89.984 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 89.622 confirmed
- CHoCH: close above the structural high 89.984. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed above the structural level 89.984
Why this setup was found
First the market formed a local low 89.794 (left shoulder). Stop orders piled up below it, that is, liquidity.
Then price took that liquidity: the head reached 89.622, which is 0.1720 (1.49 ATR) below the left shoulder.
Then price closed above the previous structural high 89.984 (close 90.063). This is a bullish CHoCH: a change of market character.
The left shoulder zone (89.794–89.849) became the QML level: price often returns here before continuing the move.
Filled bullish imbalance (FVG) overlaps QML by 9%.
There were equal lows nearby: they were what price hunted.
Structure on 15m: bearish (against this idea).
Structure on 1h: bullish (supports the idea).
On the break candle aggressive buyers dominated (63% 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.