I'm not a professional so you should NOT put much weight to this answer.
From what I understand the strip shows monomorphic ventricular tachycardia at rate approx 190 bpm. I think the little notch is the baseline but it's hard to say from an one lead rhythm strip of this arrhythmia. One of the dangers with ventricular tachycardia is as far as I know that you don't have much of a baseline, and the baseline is when the heart fills. So cardiac output is more or less diminished.
not sure about the trace you provide, but I think most experts use the bottom of the P and T wave as the baseline.