PSX · OIL & GAS MARKETING COMPANIES · 1 Hour
HASCOL Descending Triangle forming
Hascol Petroleum Limited · 02 Nov 2026 · 11:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 15.90
- ▼ 0.50%
- Upper line
- 16.54
- +4.0%
- Lower line
- 15.71
- -1.2%
- ATR
- 0.27
- Target
- Invalidation
- Pattern lines
- Fair value gap (bull / bear)
- Order block
- Strong / weak high and low
- BOS · CHoCHstructure breaks
SMC Structure · Order Blocks · FVG · Pattern Detector 1 Hour candles · click to enlarge
The breakdown
HASCOL is compressing inside a descending triangle on the hourly chart - 5 swing points, 7.5x ATR wide at the start.
Upper line 16.54, lower line 15.71. The pattern favours a downside resolution: a hourly close above 16.59 confirms an upside breakout, a close below 15.66 a downside break.
Structure: bullish external, bearish internal (strong low 13.51). Nearest supply OB 17.00 - 17.42.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 16.54 (+4.0%) would be an upside breakout.
- 3 A 1 hour close below 15.71 (-1.2%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- Confirmation
- A candle close outside the triangle.
- Target
- The triangle's widest height, projected from the breakout.
- Fails if
- A close back inside the triangle soon after the break (a fake-out).