PSX · TEXTILE SPINNING · 1 Hour
AMTEX Descending Triangle forming
Amtex Limited · 20 Oct 2026 · 10:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 3.85
- ▼ 2.53%
- Upper line
- 4.01
- +4.2%
- Lower line
- 3.84
- -0.3%
- ATR
- 0.07
- 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
AMTEX is compressing inside a descending triangle on the hourly chart - 5 swing points, 8.6x ATR wide at the start.
Upper line 4.01, lower line 3.84. The pattern favours a downside resolution: a hourly close above 4.02 confirms an upside breakout, a close below 3.83 a downside break.
Structure: bearish external, bullish internal (strong high 6.49). Nearest supply OB 4.47 - 4.53.
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 4.01 (+4.2%) would be an upside breakout.
- 3 A 1 hour close below 3.84 (-0.3%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- Confirmation
- A candle close outside the triangle.
- Target
- The triangle's widest height, projected from the breakout.
- Fails if
- A close back inside the triangle soon after the break (a fake-out).