PSX · AUTOMOBILE PARTS & ACCESSORIES · 1 Hour
DWAE Head & Shoulders forming
Dewan Automotive Engineering Limited · 26 Oct 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 21.10
- ▼ 2.59%
- Target
- 12.36
- -41.4%
- Invalidation
- —
- ATR
- 0.78
- 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
DWAE has completed a head & shoulders on the hourly chart with the head at 26.89 and the neckline at 19.32.
The pattern is confirmed by a hourly close below 19.16. The measured move from the neckline points to 12.36 (-36.0%). A close beyond the head at 26.89 cancels it.
Structure: bearish external, bullish internal (strong high 42.81). Nearest supply OB 28.35 - 30.59.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 21.10.
- 2 The target, 12.36 (-41.4%), is the pattern's height projected from the breakout.
- 3 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.