lOMoARcPSD|33999864 4 5807930252558601657 History (Union High School) Scan to open on Studocu Studocu is not sponsored or endorsed by any college or university Downloaded by Seun Etim (itssus95@gmail.com) lOMoARcPSD|33999864 Quasimodo Pattern/Over and Under This Pdf is a guidance about QM(Quasimodo) from The North God The Quasimodo Pattern is relatively an old entrant of technical analysis in the financial markets. The Quasimodo Pattern is a commonly occurring theme that is more frequent when price carves a top or bottom or when price begins a major correction to the trend. QM Pattern might seem actually very simple. This trading pattern or method is extremely powerful because when it occurs, in most cases traders will notice a confluence with other methodologies of analyzing. For example, when a trader spots a QM pattern at a supply/demand it increases the confidence of the trader or the trading probability. QM Pattern is not a trading strategy but more of a confluence that can be used to confirm a trader’s bias. Downloaded by Seun Etim (itssus95@gmail.com) lOMoARcPSD|33999864 QM pattern doesn’t appear all the time, but when it does, traders can be sure that the market offers a high probability set up. What is the Quasimodo (Over and Under) Pattern? A QM Pattern is simply a series of highs/lows and higher highs or lower lows Quasimodo Bearish Set Up There should be a prior uptrend in the markets. Price makes a new high, declines and makes a new local low. Price then rallies above the previous high to mark a new higher high. Price then fails to form a new lower low. Price then moves up to the initial high but does not make a new higher high. The 5th point is the set-up trigger for our short’s positions. Quasimodo Bullish Set Up There should be a prior downtrend in the markets. Price makes a new low then makes a small rally and forms a local high. Price then declines to form a new lower low taking out the previous low. Price then rallies to make a new higher high then declines. The final decline is equal to the first low. The 5th point is the set-up trigger for our long positions. Quasimodo Bearish Scenario Example Downloaded by Seun Etim (itssus95@gmail.com) lOMoARcPSD|33999864 NB : This is a reversal pattern so price must be in a uptrend for this schematic to take place So let’s look for bullish example Downloaded by Seun Etim (itssus95@gmail.com) lOMoARcPSD|33999864 NB : This is a reversal pattern so price must be in a downtrend for this schematic to take place That’s the basic of QM , no mentor came up with any trading tools and said they are 100% accurate so you use this , you lose or you win that’s all onto you buddy Good Luck. Downloaded by Seun Etim (itssus95@gmail.com) lOMoARcPSD|33999864 Conclusion: As you can see all the above examples about the Quasimodo or Over and Under pattern is relatively a simple pattern, which when used in conjunction with other trading strategies or signals offers a great way to increase the probability of a trade set Up. @the_northgod https://t.me/smartmoneywithnorthgod Recommended broker https://my.ifxbrokers.com/live_signup?sidc=7C36B8F1-2085-431B-94FF-88C5466DFC39 Downloaded by Seun Etim (itssus95@gmail.com)
