PSX · REFINERY · 1 Hour
PRL Head & Shoulders breakdown
Pakistan Refinery Limited · 02 Nov 2026 · 09:30 PKT
▼ Bearish Breakout Pattern breakout Against the trend
Closed at 87.26 on the breakout. Target 69.99, invalidation 102.65.
Trade plan
● Active- Close
- 87.26
- ▼ 9.37%
- Target
- 69.99
- -19.8%
- Invalidation
- 102.65
- +17.6%
RiskReward
- Reward : risk
- 1.1 : 1
- ATR
- 2.46
- Price now
- 87.26 0.0%
Outcome measured on the 1 hour bars after the signal: target or invalidation, whichever is touched first; a bar touching both counts as invalidated.
- 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
PRL broke below its head & shoulders on the hourly close at 87.26.
Projected target 69.99 (-19.8%). The pattern is invalidated beyond 102.65 (+17.6%), a reward-to-risk of about 1.1 : 1.
Structure: bullish external, bearish internal (strong low 74.74). Nearest demand OB 81.50 - 84.12, supply OB 100.50 - 102.65.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 87.26.
- 2 The target, 69.99 (-19.8%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 102.65 (+17.6%), cancels the setup.
- 4 Reward : risk is 1.1 : 1: the distance to the target divided by the distance to invalidation.
- 5 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.