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The Quasimodo Pattern is one of the best and frequently encountered patterns in trading across Forex, Crypto, and Stocks. In this article, we will delve into the Quasimodo Pattern to understand how to properly identify bottoms and tops, increasing the probability of improving your win rate
First, let's delve into the basic Quasimodo pattern.
MPL: Maximum Pain LevelQML: Quasimodo Maximum Line
In the pattern mentioned above, it's a reversal pattern.
To identify a reversal, we follow these steps:
The price is in an uptrend/downtrend phase.The price continues to rise/fall, surpassing the previous high/low.At this stage, we may encounter situations like a fakeout or the price being in an overbought/oversold region.Subsequently, the price reverses, breaking the old structure (Break of Structure).At this stage, there is confirmation of the reversal.After confirming the reversal in step 3, we set up an entry, take profit (TP), and stop loss (SL) as follows.
So, the structure of a Quasimodo pattern includes:
High, Low, Higher High, Maximum Pain Level, Lower Low, Support/Resistance Flip (SR Flip), Fail to Return (FTR), Fakeout.
Head and Shoulders (H&S) is a simple pattern, so its effectiveness is not highly regarded. On the other hand, Quasimodo is a complex pattern that involves reading the structure within the model.
Quasimodo is a reversal pattern, determined based on market structure - the most important aspect in a trade.The MPL (Maximum Pain Level) area of the Quasimodo Pattern exhibits HH - LL (Higher High - Lower Low) structure, indicating Market Maker manipulation (referred to by retail traders as "killing long/short"). We sell at the MPL when the price retraces. This is also the area of supply/demand zones, order blocks, imbalance, and more...
Basic setup

Always pay attention to having BOS before you can enter orders
Examples:
With Quasimodo Pattern, an order usually achieves quite high RR. To achieve 5R is not too difficult for the quasimodo pattern.
About in-depth Quasimodo setups, we will read the next article.

Friend.tech's Total Value Locked (TVL) has experienced a significant decline recently. Notably, Friend.tech's TVL dropped by as much as 7.8% in just one day at the beginning of October, marking a record single-day decrease.
Analyst Tom Wan pointed out this decline in Friend.tech's TVL using data from Dune Analytics. On October 4th, the TVL of Friend.tech decreased by 2.3 thousand Ethereum.
According to DefiLlama, the TVL on the Base platform dropped from 29.19K ETH to 27.14K ETH on October 4th. This was part of a TVL decrease trend that began on October 1st, with a decrease of approximately 1.30K ETH. By the beginning of October 6th, TVL had further decreased to 26.48K ETH.
Notably, the most significant TVL decrease occurred on October 4th, with a decrease of approximately 7.8%, as reported by Tom Wan. Despite the TVL decline, the available liquidity remained stable at 10.34K ETH (around 17 million USD) on October 4th, as conversion keys had been entirely withdrawn from the network.
Rapid Increase in Activity Tom Wan highlighted statistics related to key conversions. September 14th was considered the peak, with a notable 6.7K ETH worth of keys being converted. It's worth noting that 6.9K ETH worth of keys were created during the same period.
On October 4th, the number of key redemptions saw a significant spike, reaching a new high of about 2.1 thousand ETH, valued at 3.5 million USD, as reported in this topic.
When users convert their keys, they can either hold Ethereum within the application or completely withdraw from the system. On October 4th, key converters chose to withdraw funds from their accounts, leading to no increase in available liquidity within the network.
Chang, one of the largest keyholders, was among those who repurchased keys. According to the report, Chang sold 43 of his keys, earning a profit of approximately 140 ETH ($232K).
The decrease in demand led to a significant decrease in key prices, dropping from 3.89 ETH per key to 2.64 ETH per key.
However, Chang's profits were still held in his FT account. He spent 77 ETH to mint new keys on October 4th, with 39 ETH of that used to repurchase 15 of his keys at a lower price of 2.27 ETH each.

Venom Network is an exclusive layer 0 blockchain platform developed by the Venom Foundation and is the first network to be supervised by ADGM - Abu Dhabi Global Market's global financial center.
With the scheduled plan, Venom Network is set to launch its testnet at the end of April 2023, with the aim of becoming an extremely fast transaction blockchain with unlimited scalability to meet the growing needs of the user community.
Although Venom Blockchain is expected to release its testnet in 2023, the technology behind Venom has been researched and developed since 2017. Specifically, this technology is known as 'workchains' and has been implemented in Everscale, a layer 1 blockchain invested in by the Venom Foundation."Hệ sinh thái của Venom Network