Hello all. Today we will talk about the reversal pattern "Quasimodo" or QML. Schematically it looks like this:
The price moves in the trend, in POI the structure breaks and after that, the price can not update the previous HH and the downward movement continues (consider a schematic example).
In this example, after the breakdown of the structure, the price...
Bearish QML (QML-Quasimodo Chart Pattern)
Bearish QML is a reversal chart pattern that is used to predict the change in the up trend. When a LL (lower low) forms, we expect the trend will be reversed.
Entry
Selling a pullback in the supply zone, with the left shoulder as the entry point.
Stop loss
Place SL above HH.
Take profit.
2R up (Depending on your...