PSX · EXCHANGE TRADED FUNDS · 30 Min
NITGETF Inverse Head & Shoulders forming
NIT Pakistan Gateway ETF · 03 Nov 2026 · 11:00 PKT
▲ Bullish Forming Chart pattern Against the trend
Trade plan
- Close
- 32.99
- ▲ 0.43%
- Target
- 35.43
- +7.4%
- Invalidation
- —
- ATR
- 0.24
- 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
NITGETF has completed an inverse head & shoulders on the 30-minute chart with the head at 31.44 and the neckline at 33.38.
The pattern is confirmed by a 30-minute close above 33.43. The measured move from the neckline points to 35.43 (+6.1%). A close beyond the head at 31.44 cancels it.
Structure: bearish external, bearish internal (strong high 37.60). Nearest bullish FVG 32.61 - 32.85.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing above the pattern at 32.99.
- 2 The target, 35.43 (+7.4%), is the pattern's height projected from the breakout.
- 3 Trend context: against 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.