PSX · TEXTILE SPINNING · 1 Hour
DWTM Inverse Head & Shoulders forming
Dewan Textile Mills Limited · 28 Oct 2026 · 11:30 PKT
▲ Bullish Forming Chart pattern With the trend
Trade plan
- Close
- 10.70
- ▲ 7.97%
- Target
- 13.61
- +27.2%
- Invalidation
- —
- ATR
- 0.46
- 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 1 Hour candles · click to enlarge
The breakdown
DWTM has completed an inverse head & shoulders on the hourly chart with the head at 8.57 and the neckline at 10.76.
The pattern is confirmed by a hourly close above 10.85. The measured move from the neckline points to 13.61 (+26.5%). A close beyond the head at 8.57 cancels it.
Structure: bullish external, bullish internal (strong low 6.60). Nearest supply OB 10.90 - 11.64.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing above the pattern at 10.70.
- 2 The target, 13.61 (+27.2%), is the pattern's height projected from the breakout.
- 3 Trend context: with 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.