A reversal pattern, a variant of the head and shoulders. Price makes a new high, then breaks the most recent swing low to wreck the structure, and finally pulls back to the left shoulder's high. It reads the smart-money push for stop orders sitting above the prior high.
The Quasimodo is a reversal pattern that twists the head and shoulders by one step.
It is also called the Over and Under, and is written Quasimodo or, in short, QM. Like the head and shoulders, it is built from three peaks (left shoulder, head, right shoulder), but the decisive difference is the order: after the head prints, price first breaks the most recent swing low and wrecks the structure, and only then forms the right shoulder.
A topping Quasimodo unfolds like this.
First, price makes a new high and prints the head. Next, it breaks below the most recent swing low that had been supporting the trend, and the up structure breaks. This is the break of structure (BOS). Finally, price pulls back up toward the left shoulder's high (the QM line). That is where the short is set.
The final pull back to the QM line is not just a bounce. Read it as a deliberate run for the liquidity sitting just above the prior high: the stop orders (short covering, new long stops) parked there. It is most often framed as the phase where large players (smart money) draw in the fuel they need to build their own positions.
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