Consolidation between Supply and Demand
At the point A, the imbalance happened from the base (equilibrium). The price shot high quickly to the point B. After that the price retrace to the point C. The price rose again and broke the swing high of the B. and make the higher high. After that the price got down and broke the low of C.
The price dropped slower than the rally of A. So the projection of the drop is to the point of D where the demand zone lies. After that, the price will rise (at least) to the level of B creating pattern Quasimodo.
For your information, Quasiomodo is like head and shoulders but with an additional requirement of left shoulder. The left shoulder should get down and break the low of the right shoulder.
The price dropped slower than the rally of A. So the projection of the drop is to the point of D where the demand zone lies. After that, the price will rise (at least) to the level of B creating pattern Quasimodo.
For your information, Quasiomodo is like head and shoulders but with an additional requirement of left shoulder. The left shoulder should get down and break the low of the right shoulder.
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