PSX · EXCHANGE TRADED FUNDS · 30 Min
MIIETF Rising Wedge forming
Mahaana Islamic Index ETF · 13 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 16.85
- ▲ 0.60%
- Upper line
- 17.06
- +1.2%
- Lower line
- 16.67
- -1.1%
- ATR
- 0.09
- 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 30 Min candles · click to enlarge
The breakdown
MIIETF is compressing inside a rising wedge on the 30-minute chart - 5 swing points, 7.9x ATR wide at the start.
Upper line 17.06, lower line 16.67. The pattern favours a downside resolution: a 30-minute close above 17.08 confirms an upside breakout, a close below 16.65 a downside break.
Structure: bullish external, bullish internal (strong low 14.21). Nearest demand OB 16.61 - 16.68.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 17.06 (+1.2%) would be an upside breakout.
- 3 A 30 min close below 16.67 (-1.1%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the rising wedge
A rising wedge is two upward-sloping lines that converge; the buying loses momentum and a break below the lower line is usually bearish.
- Confirmation
- A close below the lower wedge line.
- Target
- The wedge's widest height, projected down from the breakout.
- Fails if
- A close back above the lower line or above the wedge's last high.