PSX · TEXTILE SPINNING · 30 Min
IDRT Rising Wedge forming
Idrees Textile Mills Limited · 23 Oct 2026 · 09:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 34.99
- ▲ 0.69%
- Upper line
- 36.80
- +5.2%
- Lower line
- 33.90
- -3.1%
- ATR
- 0.90
- 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
IDRT is compressing inside a rising wedge on the 30-minute chart - 5 swing points, 7.2x ATR wide at the start.
Upper line 36.80, lower line 33.90. The pattern favours a downside resolution: a 30-minute close above 36.98 confirms an upside breakout, a close below 33.72 a downside break.
Structure: bullish external, bullish internal (strong low 28.70). Nearest supply OB 46.50 - 47.20.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 36.80 (+5.2%) would be an upside breakout.
- 3 A 30 min close below 33.90 (-3.1%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the rising wedge
A rising wedge is two upward-sloping lines that converge; the buying loses momentum and a break below the lower line is usually bearish.
- Confirmation
- A close below the lower wedge line.
- Target
- The wedge's widest height, projected down from the breakout.
- Fails if
- A close back above the lower line or above the wedge's last high.