In RTM style, One of the power patterns is QM. This pattern is of reversal type and spotting correctly insures highly profitable trades taking place. How to Spot the pattern?? Let's say you are in a down trend , following should happen to have a valid setup. 1. Price makes a LL after making L. 2. Price takes out Last H and Creates HH. 3. if it breaks it...
What is a QML and How To Trade a QML You will have an in-depth knowledge of what is a qml and how to trade a qml in this blog. A Quasimodo is a reversal pattern that can be traded with FTR. Definition A QML is a reversal pattern that is created after a significant move in the market. Price will retrace back to fill the liquidity void. our main focus is a...
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...