PSX · SYNTHETIC & RAYON · 30 Min
IMAGE Head & Shoulders forming
Image Pakistan Limited · 29 Oct 2026 · 13:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 23.49
- ▼ 2.08%
- Target
- 20.79
- -11.5%
- Invalidation
- —
- ATR
- 0.22
- 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
IMAGE has completed a head & shoulders on the 30-minute chart with the head at 25.30 and the neckline at 22.86.
The pattern is confirmed by a 30-minute close below 22.82. The measured move from the neckline points to 20.79 (-9.0%). A close beyond the head at 25.30 cancels it.
Structure: bullish external, bearish internal (strong low 22.54). Nearest supply OB 24.99 - 25.30.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 23.49.
- 2 The target, 20.79 (-11.5%), is the pattern's height projected from the breakout.
- 3 Trend context: against 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.