PSX · ENGINEERING · Daily
ITTEFAQ Descending Triangle breakout
Ittefaq Iron Industries Limited · 12 Nov 2026
▲ Bullish Breakout Pattern breakout With the trend
Closed at 7.98 on the breakout. Target 10.70, invalidation 7.29.
Trade plan
- Close
- 7.98
- ▼ 0.99%
- Target
- 10.70
- +34.1%
- Invalidation
- 7.29
- -8.6%
RiskReward
- Reward : risk
- 3.9 : 1
- ATR
- 0.39
- 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 Daily candles · click to enlarge
The breakdown
ITTEFAQ broke above its descending triangle on the daily close at 7.98.
Projected target 10.70 (+34.1%). The pattern is invalidated beyond 7.29 (-8.6%), a reward-to-risk of about 3.9 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bullish external, bearish internal (strong low 4.02). Nearest demand OB 5.75 - 6.90, supply OB 8.79 - 9.79.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing above the pattern at 7.98.
- 2 The target, 10.70 (+34.1%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 7.29 (-8.6%), cancels the setup.
- 4 Reward : risk is 3.9 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with the trend.
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).