PSX · ENGINEERING · 30 Min
MUGHAL Falling Wedge breakout
Mughal Iron & Steel Industries Limited · 29 Oct 2026 · 09:30 PKT
▲ Bullish Breakout Pattern breakout Against the trend
Closed at 61.90 on the breakout. Target 62.34, invalidation 58.52.
Trade plan
✓ Target hit- Close
- 61.90
- ▲ 2.86%
- Target
- 62.34
- +0.7%
- Invalidation
- 58.52
- -5.5%
RiskReward
- Reward : risk
- 0.1 : 1
- ATR
- 0.60
- Price now
- 62.37 +0.8%
- Resolved
- 29 Oct · 10:00
Outcome measured on the 30 min bars after the signal: target or invalidation, whichever is touched first; a bar touching both counts as invalidated.
- 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
MUGHAL broke above its falling wedge on the 30-minute close at 61.90.
Projected target 62.34 (+0.7%). The pattern is invalidated beyond 58.52 (-5.5%), a reward-to-risk of about 0.1 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bearish external, bullish internal (strong high 94.25). Nearest demand OB 59.75 - 60.59, supply OB 62.65 - 62.75.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing above the pattern at 61.90.
- 2 The target, 62.34 (+0.7%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 58.52 (-5.5%), cancels the setup.
- 4 Reward : risk is 0.1 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against the trend.
Pattern guide
About the falling wedge
A falling wedge is two downward-sloping lines that converge; the selling loses momentum and a break above the upper line is usually bullish.
- Confirmation
- A close above the upper wedge line.
- Target
- The wedge's widest height, projected up from the breakout.
- Fails if
- A close back below the upper line or below the wedge's last low.