PSX · WOOLLEN · 30 Min
BNWM Head & Shoulders forming
Bannu Woollen Mills Limited · 29 Oct 2026 · 12:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 60.32
- ▼ 4.25%
- Target
- 48.89
- -18.9%
- Invalidation
- —
- ATR
- 1.24
- 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
BNWM has completed a head & shoulders on the 30-minute chart with the head at 67.99 and the neckline at 57.52.
The pattern is confirmed by a 30-minute close below 57.27. The measured move from the neckline points to 48.89 (-15.0%). A close beyond the head at 67.99 cancels it.
Structure: bullish external, bullish internal (strong low 59.83). Nearest demand OB 56.50 - 57.36, supply OB 66.00 - 67.00.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 60.32.
- 2 The target, 48.89 (-18.9%), is the pattern's height projected from the breakout.
- 3 Trend context: against the trend.
Pattern guide
About the head and shoulders
A head and shoulders is a topping pattern: three peaks with the middle one highest, resting on a "neckline" whose break often ends an uptrend.
- Confirmation
- A close below the neckline.
- Target
- The height from the head to the neckline, projected down from the break.
- Fails if
- A close back above the right shoulder or the neckline.