PSX · PAPER, BOARD & PACKAGING · 30 Min
SPEL Bullish change of character
SPEL Limited · 23 Oct 2026 · 11:30 PKT
▲ Bullish CHoCH Market structure · CHoCH
Structure levels
- Close
- 40.60
- ▲ 0.25%
- Broken level
- 40.50
- -0.2%
- CHoCH level
- 38.00
- -6.4%
- ATR
- 0.55
- 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
SPEL closed above the external strong high at 40.50 - the external trend turns bullish.
The 30-minute close at 40.60 confirms it. The new external CHoCH level (strong low) is 38.00: a close beyond it would change the character back.
Structure: bullish external, bullish internal (strong low 38.00). Nearest demand OB 38.00 - 38.64, supply OB 41.35 - 42.00.
How to read this signal
- 1 Price closed above the swing level at 40.50, breaking the market structure.
- 2 The structure would flip back on a close beyond the CHoCH level, 38.00 (-6.4%).
- 3 Structure signals carry no fixed target: the next liquidity area is the usual objective.
Pattern guide
About the change of character (choch)
A change of character (CHoCH) is the first close against the trend's structure, breaking the swing low of an uptrend or the swing high of a downtrend: an early sign of reversal.
- Confirmation
- A candle close beyond the swing point that defined the trend.
- Target
- No fixed target: the first opposing liquidity area.
- Fails if
- A move back beyond the broken level that resumes the old trend.