PSX · EXCHANGE TRADED FUNDS · 1 Hour
UBLPETF Head & Shoulders forming
UBLPakistan Enterprise ETF · 30 Oct 2026 · 08:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 27.83
- ▲ 0.32%
- Target
- 24.10
- -13.4%
- Invalidation
- —
- ATR
- 0.25
- 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
UBLPETF has completed a head & shoulders on the hourly chart with the head at 29.75 and the neckline at 26.87.
The pattern is confirmed by a hourly close below 26.82. The measured move from the neckline points to 24.10 (-10.3%). A close beyond the head at 29.75 cancels it.
Structure: bearish external, bullish internal (strong high 28.99). Nearest supply OB 30.90 - 31.10.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 27.83.
- 2 The target, 24.10 (-13.4%), 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.