PSX · INSURANCE · Daily
RICL Descending Triangle breakout
Reliance Insurance Company Limited · 13 Nov 2026
▲ Bullish Breakout Pattern breakout With the trend
Closed at 12.00 on the breakout. Target 14.80, invalidation 10.88.
Trade plan
- Close
- 12.00
- ▲ 1.61%
- Target
- 14.80
- +23.3%
- Invalidation
- 10.88
- -9.3%
RiskReward
- Reward : risk
- 2.5 : 1
- ATR
- 0.54
- 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
RICL broke above its descending triangle on the daily close at 12.00.
Projected target 14.80 (+23.3%). The pattern is invalidated beyond 10.88 (-9.3%), a reward-to-risk of about 2.5 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bullish external, bullish internal (strong low 5.55). Nearest demand OB 9.08 - 9.81.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing above the pattern at 12.00.
- 2 The target, 14.80 (+23.3%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 10.88 (-9.3%), cancels the setup.
- 4 Reward : risk is 2.5 : 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).