PSX · EXCHANGE TRADED FUNDS · 1 Hour
NITGETF Inverse Head & Shoulders forming
NIT Pakistan Gateway ETF · 03 Nov 2026 · 14:30 PKT
▲ Bullish Forming Chart pattern With the trend
Trade plan
- Close
- 32.93
- ▲ 0.00%
- Target
- 35.41
- +7.5%
- Invalidation
- —
- ATR
- 0.25
- 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
NITGETF has completed an inverse head & shoulders on the hourly chart with the head at 31.44 and the neckline at 33.37.
The pattern is confirmed by a hourly close above 33.42. The measured move from the neckline points to 35.41 (+6.1%). A close beyond the head at 31.44 cancels it.
Structure: bullish external, bearish internal (strong low 30.55). Nearest bullish FVG 32.42 - 32.85.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing above the pattern at 32.93.
- 2 The target, 35.41 (+7.5%), is the pattern's height projected from the breakout.
- 3 Trend context: with the trend.
Pattern guide
About the inverse head and shoulders
An inverse head and shoulders is a bottoming pattern: three troughs with the middle one lowest, whose neckline break often starts an uptrend.
- Confirmation
- A close above the neckline.
- Target
- The depth from the head to the neckline, projected up from the break.
- Fails if
- A close back below the right shoulder or the neckline.