Timeline
- Liquidity formed: local high 1,698.7 (left shoulder)
- Structural low 1,696.6 confirmed
- Price took out the liquidity beyond the left shoulder
- Head 1,699 confirmed
- CHoCH: close below the structural low 1696.6. Quasimodo confirmed
- Price is approaching QML
- Price entered the QML zone
- Idea played out: After touching QML price closed below the structural level 1696.6
Why this setup was found
First the market formed a local high 1,698.7 (left shoulder). Stop orders piled up above it, that is, liquidity.
Then price took that liquidity: the head reached 1,699, which is 0.2500 (0.14 ATR) above the left shoulder.
Then price closed below the previous structural low 1,696.6 (close 1,695.7). This is a bearish CHoCH: a change of market character.
The left shoulder zone (1,698.3–1,698.7) became the QML level: price often returns here before continuing the move.
An already touched bearish order block overlaps QML by 47%: big players already built positions in this zone.
There were equal highs nearby: they were what price hunted.
Structure on 15m: bullish (against this idea).
Structure on 1h: bearish (supports the idea).
On the break candle the aggressive flow went against the break (47% 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.