PSX · ENGINEERING · 30 Min
MUGHAL Falling Wedge forming
Mughal Iron & Steel Industries Limited · 28 Oct 2026 · 10:00 PKT
▲ Bullish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 59.81
- ▼ 1.12%
- Upper line
- 61.40
- +2.7%
- Lower line
- 57.53
- -3.8%
- ATR
- 0.54
- 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
MUGHAL is compressing inside a falling wedge on the 30-minute chart - 5 swing points, 9.7x ATR wide at the start.
Upper line 61.40, lower line 57.53. The pattern favours an upside resolution: a 30-minute close above 61.51 confirms an upside breakout, a close below 57.42 a downside break.
Structure: bearish external, bullish internal (strong high 94.25). Nearest supply OB 61.71 - 62.00.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 61.40 (+2.7%) would be an upside breakout.
- 3 A 30 min close below 57.53 (-3.8%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the falling wedge
A falling wedge is two downward-sloping lines that converge; the selling loses momentum and a break above the upper line is usually bullish.
- Confirmation
- A close above the upper wedge line.
- Target
- The wedge's widest height, projected up from the breakout.
- Fails if
- A close back below the upper line or below the wedge's last low.