1M Price Action System

#3,841
Jan 11, 2022 7:56am Jan 11, 2022 7:56am

Startsmall
| Joined Sep 2020 | Status: Trader | 56 Posts

Hello guys im kinda new to the world of trading and joyfull studying this thread!I wanna ask about a quasimodo pattern is basically a failed head and shoulder reversal?

#3,842
Jan 11, 2022 8:02am Jan 11, 2022 8:02am

Inthebox
Joined Jun 2010 | Status: Trader | 16,699 Posts

Quoting Startsmall

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Hello guys im kinda new to the world of trading and joyfull studying this thread!I wanna ask about a quasimodo pattern is basically a failed head and shoulder reversal?

Ignored

you have quasimodo basic and quasimodo advance.
build basic foundation first from you tube and other resources.
it is kind of similar yet different.
all quasimodo is head and shoulder. but not all head and shoulder is quasimodo.

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ITB - Seeing Orderliness amongst 'Randomness'

#3,843
Edited 4:04pm Jan 11, 2022 3:50pm | Edited 4:04pm

ChrissK
Joined Nov 2021 | Status: Trader | 249 Posts

Quoting Startsmall

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Hello guys im kinda new to the world of trading and joyfull studying this thread!I wanna ask about a quasimodo pattern is basically a failed head and shoulder reversal?

Ignored

In my view the simplest version: the head should (barely - so You can see that the trend is actually weakening by using common sense - not so deep HHs/LLs) grab old/previous (support/resistance) trend liquidity (SLs) and then make structure break to the opposite side showing that it wants to reverse, (taking out sellers and then buyers or vice versa) then one should wait for pullback into same/around level as old support/resistance was combined with OBs, FVGs etc (where "they" had to manipulate the lows/highs to grab liquididity so "they" can fill their opposite side big buy/sell positions in) for entry if favorable candlestick patterns are there.

Basically following this thread main page rules:

1. Watch confluences of Round number, Fibonacci numbers, session open, observe divergence of rsi (optional).
2. Wait of liquidity grab and BOS (break of structure) .
3. Retest of OB (order block) is our entry.

Some interesting pics I found that might help to explain things clearly

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https://tradingstrategyguides.com/quasimodo-trading-strategy

#3,844
Jan 11, 2022 9:09pm Jan 11, 2022 9:09pm

Inthebox
Joined Jun 2010 | Status: Trader | 16,699 Posts

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ITB - Seeing Orderliness amongst 'Randomness'

#3,845
Jan 11, 2022 9:27pm Jan 11, 2022 9:27pm

tommydoginti
Joined Oct 2020 | Status: Trader | 3,886 Posts

Quoting Inthebox

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{image} {image}

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My observation is the QM pattern works pretty well with order blocks of the middle peak just above the left peak. Either the liquidity is grabbed there and reverse or a break that likely retest the level. Worth investigation should someone wants to develop strategies around this trade idea

#3,846
Jan 11, 2022 9:46pm Jan 11, 2022 9:46pm

Inthebox
Joined Jun 2010 | Status: Trader | 16,699 Posts

Quoting tommydoginti

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{quote} My observation is the QM pattern works pretty well with order blocks of the middle peak just above the left peak. Either the liquidity is grabbed there and reverse or a break that likely retest the level. Worth investigation should someone wants to develop strategies around this trade idea

Ignored

this is the quasimodo advance version.
with break of structure, liquidity, compression, order block ........ etc.

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ITB - Seeing Orderliness amongst 'Randomness'

#3,847
Jan 11, 2022 10:52pm Jan 11, 2022 10:52pm

tommydoginti
Joined Oct 2020 | Status: Trader | 3,886 Posts

Quoting Inthebox

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{quote} this is the quasimodo advance version. with break of structure, liquidity, compression, order block ........ etc. {image}

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Thanks for sharing. My idea is very similar to the right-most peak where OB is considered, just one level further.

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#3,848
Edited 11:57pm Jan 11, 2022 11:45pm | Edited 11:57pm

Inthebox
Joined Jun 2010 | Status: Trader | 16,699 Posts

Quoting tommydoginti

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{quote} Thanks for sharing. My idea is very similar to the right-most peak where OB is considered, just one level further. {image}

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this is called diamond - a fake out or failed qml.
finally going for the real level.

i am currently doing research on advance quasimodo.
i have a FF journal for that which is still a work in progress.

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