PSX · CHEMICAL · 1 Hour
ICL Inverse Head & Shoulders forming
Ittehad Chemicals Limted · 23 Oct 2026 · 14:30 PKT
▲ Bullish Forming Chart pattern With the trend
Trade plan
- Close
- 127.00
- ▲ 1.90%
- Target
- 142.92
- +12.5%
- Invalidation
- —
- ATR
- 2.25
- 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
ICL has completed an inverse head & shoulders on the hourly chart with the head at 117.00 and the neckline at 128.86.
The pattern is confirmed by a hourly close above 129.31. The measured move from the neckline points to 142.92 (+10.9%). A close beyond the head at 117.00 cancels it.
Structure: bullish external, bearish internal (strong low 110.03). Nearest supply OB 151.50 - 152.55.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing above the pattern at 127.00.
- 2 The target, 142.92 (+12.5%), is the pattern's height projected from the breakout.
- 3 Trend context: with 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.