PSX · TEXTILE SPINNING · 30 Min
KSTM Head & Shoulders forming
Khalid Siraj Textile Mills Limited · 21 Oct 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 13.20
- ▲ 3.04%
- Target
- 7.50
- -43.2%
- Invalidation
- —
- ATR
- 0.39
- 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
KSTM has completed a head & shoulders on the 30-minute chart with the head at 16.39 and the neckline at 12.08.
The pattern is confirmed by a 30-minute close below 12.00. The measured move from the neckline points to 7.50 (-37.9%). A close beyond the head at 16.39 cancels it.
Structure: bullish external, bullish internal (strong low 11.63). Nearest demand OB 9.90 - 10.00, supply OB 14.12 - 14.47.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 13.20.
- 2 The target, 7.50 (-43.2%), 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.