PSX · TEXTILE SPINNING · 30 Min
ELSM Descending Triangle breakdown
Ellcot Spinning Mills Limited · 21 Oct 2026 · 14:00 PKT
▼ Bearish Breakout Pattern breakout With the trend
Closed at 173.65 on the breakout. Target 149.40, invalidation 195.00.
Trade plan
● Active- Close
- 173.65
- ▼ 1.62%
- Target
- 149.40
- -14.0%
- Invalidation
- 195.00
- +12.3%
RiskReward
- Reward : risk
- 1.1 : 1
- ATR
- 5.13
- Price now
- 180.00 +3.7%
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 below its descending triangle on the 30-minute close at 173.65.
Projected target 149.40 (-14.0%). The pattern is invalidated beyond 195.00 (+12.3%), a reward-to-risk of about 1.1 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bearish external, bearish internal (strong high 195.00). Nearest demand OB 151.10 - 162.80.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 173.65.
- 2 The target, 149.40 (-14.0%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 195.00 (+12.3%), cancels the setup.
- 4 Reward : risk is 1.1 : 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).