PSX · MODARABAS · 30 Min
FPJM Head & Shoulders forming
First Punjab Modaraba · 13 Nov 2026 · 15:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 18.31
- ▼ 0.49%
- Target
- 16.20
- -11.5%
- Invalidation
- —
- ATR
- 0.26
- 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
FPJM has completed a head & shoulders on the 30-minute chart with the head at 19.94 and the neckline at 18.33.
The pattern is confirmed by a 30-minute close below 18.28. The measured move from the neckline points to 16.20 (-11.6%). A close beyond the head at 19.94 cancels it.
Structure: bullish external, bullish internal (strong low 16.00). Nearest demand OB 9.90 - 10.20, supply OB 23.53 - 23.79.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 18.31.
- 2 The target, 16.20 (-11.5%), is the pattern's height projected from the breakout.
- 3 Trend context: against the trend.
Pattern guide
About the head and shoulders
A head and shoulders is a topping pattern: three peaks with the middle one highest, resting on a "neckline" whose break often ends an uptrend.
- Confirmation
- A close below the neckline.
- Target
- The height from the head to the neckline, projected down from the break.
- Fails if
- A close back above the right shoulder or the neckline.