PSX · TEXTILE SPINNING · 30 Min
ELSM Descending Triangle breakout
Ellcot Spinning Mills Limited · 20 Oct 2026 · 10:30 PKT
▲ Bullish Breakout Pattern breakout Against the trend
Closed at 194.00 on the breakout. Target 203.89, invalidation 180.01.
Trade plan
● Active- Close
- 194.00
- ▲ 0.00%
- Target
- 203.89
- +5.1%
- Invalidation
- 180.01
- -7.2%
RiskReward
- Reward : risk
- 0.7 : 1
- ATR
- 4.40
- Price now
- 194.04 +0.0%
Outcome measured on the 30 min bars after the signal: target or invalidation, whichever is touched first; a bar touching both counts as invalidated.
- 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
ELSM broke above its descending triangle on the 30-minute close at 194.00.
Projected target 203.89 (+5.1%). The pattern is invalidated beyond 180.01 (-7.2%), a reward-to-risk of about 0.7 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bearish external, bullish internal (strong high 215.00). Nearest demand OB 151.10 - 162.80.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing above the pattern at 194.00.
- 2 The target, 203.89 (+5.1%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 180.01 (-7.2%), cancels the setup.
- 4 Reward : risk is 0.7 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against 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).