PSX · TEXTILE SPINNING · 30 Min
IDYM Head & Shoulders forming
Indus Dyeing & Manufacturing Co. Limited · 19 Oct 2026 · 15:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 133.00
- ▼ 1.60%
- Target
- 117.62
- -11.6%
- Invalidation
- —
- ATR
- 2.13
- 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
IDYM has completed a head & shoulders on the 30-minute chart with the head at 144.00 and the neckline at 132.04.
The pattern is confirmed by a 30-minute close below 131.61. The measured move from the neckline points to 117.62 (-10.9%). A close beyond the head at 144.00 cancels it.
Structure: bullish external, bullish internal (strong low 120.00). Nearest demand OB 107.60 - 108.71.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 133.00.
- 2 The target, 117.62 (-11.6%), 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.