PSX · AUTOMOBILE ASSEMBLER · 1 Hour
MTL Bear Pennant breakdown
Millat Tractors Limited · 21 Oct 2026 · 13:30 PKT
▼ Bearish Breakout Pattern breakout With the trend
Closed at 290.00 on the breakout. Target 277.04, invalidation 292.98.
Trade plan
● Active- Close
- 290.00
- ▼ 0.66%
- Target
- 277.04
- -4.5%
- Invalidation
- 292.98
- +1.0%
RiskReward
- Reward : risk
- 4.3 : 1
- ATR
- 1.70
- Price now
- 287.98 -0.7%
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
MTL broke below its bear pennant on the hourly close at 290.00.
Projected target 277.04 (-4.5%). The pattern is invalidated beyond 292.98 (+1.0%), a reward-to-risk of about 4.3 : 1.
Structure: bearish external, bearish internal (strong high 318.90). Nearest demand OB 269.00 - 270.50, supply OB 291.00 - 292.98.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 290.00.
- 2 The target, 277.04 (-4.5%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 292.98 (+1.0%), cancels the setup.
- 4 Reward : risk is 4.3 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with the trend.
Pattern guide
About the bear pennant
A bear pennant is a sharp fall followed by a small symmetrical triangle; a break below it usually continues the fall.
- Confirmation
- A close below the pennant.
- Target
- The length of the pole, projected down from the breakout.
- Fails if
- A close above the pennant.