QUASIMODO (QML)
QML is a complex pattern that appear only during trend reversals.
QML has the shape of head and shoulders pattern but it is not head and shoulder pattern.
It is totally a different setup.
π§΅
QML is a complex pattern that appear only during trend reversals.
QML has the shape of head and shoulders pattern but it is not head and shoulder pattern.
It is totally a different setup.
π§΅
QML ANATOMY
A Complete QML may contain these things.
1. QML ( HH, HL, LL)
2. SR Flip
3. Fail To Return (FTR)
4. Fakeouts.
A Complete QML may contain these things.
1. QML ( HH, HL, LL)
2. SR Flip
3. Fail To Return (FTR)
4. Fakeouts.
SUPPORT AND RESISTANCE (SR) FLIP
SR Flip is a price action that gives us the clue of how price behaves. It signals a continuation of a bearish trend.
We identify SR Flip when there's a clean breakout (broken by a single candle) of the previous support which turned resistance.
SR Flip is a price action that gives us the clue of how price behaves. It signals a continuation of a bearish trend.
We identify SR Flip when there's a clean breakout (broken by a single candle) of the previous support which turned resistance.
FAIL TO RETURN (FTR)
Fail To Return is a condition where support and resistance is broken and there is a correction but price can't go back to the previous direction then it continues the trend.
FTR is part of supply and demand.
Fail To Return is a condition where support and resistance is broken and there is a correction but price can't go back to the previous direction then it continues the trend.
FTR is part of supply and demand.
FAKEOUT
Fakeout is a false breakout or move at a resistance or support zone to trap the retail traders from taking the buy or sell order.
Fakeout is one of the ways for institutional traders to find liquidity and to make the markets move towards their unfilled orders.
Fakeout is a false breakout or move at a resistance or support zone to trap the retail traders from taking the buy or sell order.
Fakeout is one of the ways for institutional traders to find liquidity and to make the markets move towards their unfilled orders.
Chart examples of QML
Loading suggestions...