PSX · TEXTILE COMPOSITE · 30 Min
NML Descending Triangle breakdown
Nishat Mills Limited · 23 Oct 2026 · 10:00 PKT
▼ Bearish Breakout Pattern breakout With the trend
Closed at 120.85 on the breakout. Target 119.30, invalidation 125.30.
Trade plan
✓ Target hit- Close
- 120.85
- ▼ 0.94%
- Target
- 119.30
- -1.3%
- Invalidation
- 125.30
- +3.7%
RiskReward
- Reward : risk
- 0.3 : 1
- ATR
- 1.07
- Price now
- 118.45 -2.0%
- Resolved
- 23 Oct · 10:30
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
NML broke below its descending triangle on the 30-minute close at 120.85.
Projected target 119.30 (-1.3%). The pattern is invalidated beyond 125.30 (+3.7%), a reward-to-risk of about 0.3 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bearish external, bearish internal (strong high 127.94). Nearest supply OB 122.93 - 123.88.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 120.85.
- 2 The target, 119.30 (-1.3%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 125.30 (+3.7%), cancels the setup.
- 4 Reward : risk is 0.3 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with the trend.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- Confirmation
- A candle close outside the triangle.
- Target
- The triangle's widest height, projected from the breakout.
- Fails if
- A close back inside the triangle soon after the break (a fake-out).