PSX · TEXTILE COMPOSITE · 1 Hour
KTML Head & Shoulders forming
Kohinoor Textile Mills Limited · 29 Oct 2026 · 13:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 38.41
- ▼ 1.49%
- Target
- 33.56
- -12.6%
- Invalidation
- —
- ATR
- 0.56
- 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
KTML has completed a head & shoulders on the hourly chart with the head at 42.50 and the neckline at 37.92.
The pattern is confirmed by a hourly close below 37.81. The measured move from the neckline points to 33.56 (-11.5%). A close beyond the head at 42.50 cancels it.
Structure: bullish external, bullish internal (strong low 37.02). Nearest supply OB 42.52 - 43.30.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 38.41.
- 2 The target, 33.56 (-12.6%), 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.