PSX · TEXTILE SPINNING · 30 Min
ELSM Bullish change of character
Ellcot Spinning Mills Limited · 29 Oct 2026 · 12:30 PKT
▲ Bullish CHoCH Market structure · CHoCH
Structure levels
- Close
- 200.33
- ▲ 6.56%
- Broken level
- 195.00
- -2.7%
- CHoCH level
- 165.70
- -17.3%
- ATR
- 10.70
- 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
ELSM closed above the external strong high at 195.00 - the external trend turns bullish.
The 30-minute close at 200.33 confirms it. The new external CHoCH level (strong low) is 165.70: a close beyond it would change the character back.
Structure: bullish external, bullish internal (strong low 165.70). Nearest demand OB 151.10 - 162.80.
How to read this signal
- 1 Price closed above the swing level at 195.00, breaking the market structure.
- 2 The structure would flip back on a close beyond the CHoCH level, 165.70 (-17.3%).
- 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.