PSX · EXCHANGE TRADED FUNDS · 30 Min
MIIETF Head & Shoulders breakdown
Mahaana Islamic Index ETF · 23 Oct 2026 · 10:30 PKT
▼ Bearish Breakout Pattern breakout With the trend
Closed at 15.46 on the breakout. Target 15.07, invalidation 15.94.
Trade plan
● Active- Close
- 15.46
- ▼ 0.45%
- Target
- 15.07
- -2.5%
- Invalidation
- 15.94
- +3.1%
RiskReward
- Reward : risk
- 0.8 : 1
- ATR
- 0.06
- Price now
- 15.45 -0.1%
Outcome measured on the 30 min 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 30 Min candles · click to enlarge
The breakdown
MIIETF broke below its head & shoulders on the 30-minute close at 15.46.
Projected target 15.07 (-2.5%). The pattern is invalidated beyond 15.94 (+3.1%), a reward-to-risk of about 0.8 : 1.
Structure: bearish external, bearish internal (strong high 16.69). Nearest bearish FVG 15.60 - 15.61.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 15.46.
- 2 The target, 15.07 (-2.5%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 15.94 (+3.1%), cancels the setup.
- 4 Reward : risk is 0.8 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with 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.