PSX · CHEMICAL · 30 Min
ICL Inverse Head & Shoulders forming
Ittehad Chemicals Limted · 23 Oct 2026 · 14:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Trade plan
- Close
- 126.55
- ▲ 1.54%
- Target
- 143.14
- +13.1%
- Invalidation
- —
- ATR
- 1.93
- 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
ICL has completed an inverse head & shoulders on the 30-minute chart with the head at 117.00 and the neckline at 129.05.
The pattern is confirmed by a 30-minute close above 129.44. The measured move from the neckline points to 143.14 (+10.9%). A close beyond the head at 117.00 cancels it.
Structure: bearish external, bearish internal (strong high 131.90). Nearest supply OB 136.95 - 137.00.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing above the pattern at 126.55.
- 2 The target, 143.14 (+13.1%), is the pattern's height projected from the breakout.
- 3 Trend context: against the trend.
Pattern guide
About the inverse head and shoulders
An inverse head and shoulders is a bottoming pattern: three troughs with the middle one lowest, whose neckline break often starts an uptrend.
- Confirmation
- A close above the neckline.
- Target
- The depth from the head to the neckline, projected up from the break.
- Fails if
- A close back below the right shoulder or the neckline.