Timeline
- Liquidity formed: local high 195.5 (left shoulder)
- Structural low 194.7 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 195.8 confirmed
- CHoCH: close below the structural low 194.7. Quasimodo confirmed
- Price is approaching QML
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed below the structural level 194.7
Why this setup was found
First the market formed a local high 195.5 (left shoulder). Stop orders piled up above it, that is, liquidity.
Then price took that liquidity: the head reached 195.8, which is 0.2600 (0.51 ATR) above the left shoulder.
Then price closed below the previous structural low 194.7 (close 194.7). This is a bearish CHoCH: a change of market character.
The left shoulder zone (195.3–195.5) became the QML level: price often returns here before continuing the move.
An already touched bearish order block overlaps QML by 53%: big players already built positions in this zone.
Partially filled bearish imbalance (FVG) overlaps QML by 26%.
There were equal highs nearby: they were what price hunted.
Structure on 15m: bullish (against this idea).
Structure on 1h: bullish (against this idea).
On the break candle aggressive sellers dominated (64% 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.