PSX · CABLE & ELECTRICAL GOODS · 1 Hour
WAVESAPP Falling Wedge forming
Waves Home Appliances Limited · 30 Oct 2026 · 09:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 6.83
- ▼ 1.01%
- Upper line
- 7.06
- +3.4%
- Lower line
- 6.46
- -5.4%
- ATR
- 0.15
- 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
WAVESAPP is compressing inside a falling wedge on the hourly chart - 5 swing points, 10.0x ATR wide at the start.
Upper line 7.06, lower line 6.46. The pattern favours an upside resolution: a hourly close above 7.09 confirms an upside breakout, a close below 6.43 a downside break.
Structure: bearish external, bullish internal (strong high 10.54). Nearest supply OB 7.25 - 7.37.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 7.06 (+3.4%) would be an upside breakout.
- 3 A 1 hour close below 6.46 (-5.4%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
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.