PSX · COMMERCIAL BANKS · 1 Hour
BAFL Bull Pennant forming
Bank Alfalah Limited · 02 Nov 2026 · 09:30 PKT
▲ Bullish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 57.82
- ▲ 0.12%
- Upper line
- 57.79
- -0.1%
- Lower line
- 57.55
- -0.5%
- ATR
- 0.42
- 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
BAFL is building a bull pennant after a 2.30 rally (5.5x ATR) on the hourly chart.
The flag channel runs between 57.55 and 57.79. A hourly close above 57.87 signals continuation towards 60.09; a close below 57.55 fails the pattern.
Structure: bullish external, bullish internal (strong low 50.65). Nearest demand OB 56.27 - 56.30, supply OB 62.55 - 63.45.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 57.79 (-0.1%) would be an upside breakout.
- 3 A 1 hour close below 57.55 (-0.5%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the bull pennant
A bull pennant is a sharp rise followed by a small symmetrical triangle; a break above it usually continues the rise.
- Confirmation
- A close above the pennant.
- Target
- The length of the pole, projected up from the breakout.
- Fails if
- A close below the pennant.