PSX · MODARABAS · 1 Hour
FIBLM Bear Pennant forming
First IBL Modaraba · 23 Oct 2026 · 15:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 15.50
- ▼ 1.96%
- Upper line
- 15.88
- +2.5%
- Lower line
- 15.37
- -0.8%
- ATR
- 0.48
- 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
FIBLM is building a bear pennant after a 2.95 drop (6.1x ATR) on the hourly chart.
The flag channel runs between 15.37 and 15.88. A hourly close below 15.27 signals continuation towards 12.42; a close above 15.88 fails the pattern.
Structure: bullish external, bullish internal (strong low 9.12). Nearest demand OB 12.00 - 12.60, supply OB 18.86 - 19.10.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 15.88 (+2.5%) would be an upside breakout.
- 3 A 1 hour close below 15.37 (-0.8%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
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.