PSX · POWER GENERATION & DISTRIBUTION · 30 Min
ALTN Head & Shoulders forming
Altern Energy Limited · 23 Oct 2026 · 16:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 6.38
- ▼ 1.09%
- Target
- 5.76
- -9.7%
- Invalidation
- —
- ATR
- 0.09
- 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
ALTN has completed a head & shoulders on the 30-minute chart with the head at 7.10 and the neckline at 6.38.
The pattern is confirmed by a 30-minute close below 6.36. The measured move from the neckline points to 5.76 (-9.8%). A close beyond the head at 7.10 cancels it.
Structure: bullish external, bearish internal (strong low 6.20). Nearest supply OB 6.76 - 6.90.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 6.38.
- 2 The target, 5.76 (-9.7%), 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.