PSX · TEXTILE SPINNING · 30 Min
IDRT Rising Wedge breakdown
Idrees Textile Mills Limited · 23 Oct 2026 · 09:30 PKT
▼ Bearish Breakout Pattern breakout Against the trend
Closed at 33.50 on the breakout. Target 32.13, invalidation 36.70.
Trade plan
✓ Target hit- Close
- 33.50
- ▼ 4.26%
- Target
- 32.13
- -4.1%
- Invalidation
- 36.70
- +9.6%
RiskReward
- Reward : risk
- 0.4 : 1
- ATR
- 1.09
- Price now
- 32.71 -2.4%
- Resolved
- 23 Oct · 15:30
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
IDRT broke below its rising wedge on the 30-minute close at 33.50.
Projected target 32.13 (-4.1%). The pattern is invalidated beyond 36.70 (+9.6%), a reward-to-risk of about 0.4 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bullish external, bullish internal (strong low 28.70). Nearest supply OB 46.50 - 47.20.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 33.50.
- 2 The target, 32.13 (-4.1%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 36.70 (+9.6%), cancels the setup.
- 4 Reward : risk is 0.4 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against the trend.
Pattern guide
About the rising wedge
A rising wedge is two upward-sloping lines that converge; the buying loses momentum and a break below the lower line is usually bearish.
- Confirmation
- A close below the lower wedge line.
- Target
- The wedge's widest height, projected down from the breakout.
- Fails if
- A close back above the lower line or above the wedge's last high.