PSX · PAPER, BOARD & PACKAGING · 1 Hour
IPAK Bearish change of character
International Packaging Films Limited · 28 Oct 2026 · 11:30 PKT
▼ Bearish CHoCH Market structure · CHoCH
Structure levels
- Close
- 28.00
- ▼ 0.43%
- Broken level
- 28.10
- +0.4%
- CHoCH level
- 44.29
- +58.2%
- ATR
- 0.45
- 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
IPAK closed below the external strong low at 28.10 - the external trend turns bearish.
The hourly close at 28.00 confirms it. The new external CHoCH level (strong high) is 44.29: a close beyond it would change the character back.
Structure: bearish external, bearish internal (strong high 44.29). Nearest demand OB 24.30 - 24.85, supply OB 29.15 - 29.50.
How to read this signal
- 1 Price closed below the swing level at 28.10, breaking the market structure.
- 2 The structure would flip back on a close beyond the CHoCH level, 44.29 (+58.2%).
- 3 Structure signals carry no fixed target: the next liquidity area is the usual objective.
Pattern guide
About the change of character (choch)
A change of character (CHoCH) is the first close against the trend's structure, breaking the swing low of an uptrend or the swing high of a downtrend: an early sign of reversal.
- Confirmation
- A candle close beyond the swing point that defined the trend.
- Target
- No fixed target: the first opposing liquidity area.
- Fails if
- A move back beyond the broken level that resumes the old trend.