Quasimodo Double Method
Quasimodo is not one of the most popular patterns among forex traders but definitely one of the most reliable and powerful pattern to trade. it’s a reversal pattern that provides a great Risk Reward ratio potential.
The risk reward ratio that this pattern provides in potencial in amazing.
The quasi-modo pattern is a reversal pattern, it happens after a significant up trend or a significant downtrend.
From the point of the lower low the price rises up and creates a new high which is higher than the last one. That situation indicates that the bearish momentum has ended and the price has entered the bullish momentum area.
The price creates a higher high and makes one sharp movement. That forex pattern is Quasimodo.
When the price creates the higher high, the right level to enter is usually what we call the left shoulder which is the one before the recent downtrend. it’s like a head and shoulder pattern.
It’s a logical level to buy because it’s a demand level. That situation is a great time to buy.
The stop loss will be below that level, at the last low.
Quasimodo is usually a limit order strategy that doubles entries when the limit order is reached by a market uptrend or downtrend.
An instant buy/sell order function is added, which is similar to the main swing or higher high/lower low.
This can be used separately
1.Bool Pending order Buy/Sell
2.Bool Instant order Buy/Sell
3.Bool Account graphics
Time Frames & pairs
1. Instant Orders 1M [EURUSD GBPUSD EURAUD EURCHF GBPCHF AUDJPY XAUUSD XAGUSD]
5M[EURUSD GBPUSD USDDKK CHFJPY EURAUD EURCHF GBPCHF AUDJPY CADJPY]
2. Limit Orders1M[ EURUSD GBPUSD EURAUD EURCHF GBPCHF AUDJPY CHFJPY]
5M [EURUSD GBPUSD USDDKK CHFJPY EURAUD EURCHF GBPCHF AUDJPY CADJPY]