PSX · TEXTILE SPINNING · 1 Hour
IDRT Inverse Head & Shoulders forming
Idrees Textile Mills Limited · 21 Oct 2026 · 12:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Trade plan
- Close
- 35.50
- ▲ 6.77%
- Target
- 45.24
- +27.4%
- Invalidation
- —
- ATR
- 1.13
- 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 1 Hour candles · click to enlarge
The breakdown
IDRT has completed an inverse head & shoulders on the hourly chart with the head at 28.70 and the neckline at 37.15.
The pattern is confirmed by a hourly close above 37.38. The measured move from the neckline points to 45.24 (+21.8%). A close beyond the head at 28.70 cancels it.
Structure: bearish external, bullish internal (strong high 68.08). Nearest demand OB 27.97 - 28.50, supply OB 41.20 - 42.05.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing above the pattern at 35.50.
- 2 The target, 45.24 (+27.4%), 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.