PSX · TEXTILE COMPOSITE · 1 Hour
SURC Bearish change of character
Suraj Cotton Mills Limited · 22 Oct 2026 · 09:30 PKT
▼ Bearish CHoCH Market structure · CHoCH
Structure levels
- Close
- 120.00
- ▼ 2.87%
- Broken level
- 123.30
- +2.8%
- CHoCH level
- 181.00
- +50.8%
- ATR
- 2.69
- 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
SURC closed below the external strong low at 123.30 - the external trend turns bearish.
The hourly close at 120.00 confirms it. The new external CHoCH level (strong high) is 181.00: a close beyond it would change the character back.
Structure: bearish external, bearish internal (strong high 181.00). Nearest demand OB 100.00 - 104.80, supply OB 124.00 - 127.95.
How to read this signal
- 1 Price closed below the swing level at 123.30, breaking the market structure.
- 2 The structure would flip back on a close beyond the CHoCH level, 181.00 (+50.8%).
- 3 Structure signals carry no fixed target: the next liquidity area is the usual objective.
Pattern guide
About the change of character (choch)
A change of character (CHoCH) is the first close against the trend's structure, breaking the swing low of an uptrend or the swing high of a downtrend: an early sign of reversal.
- Confirmation
- A candle close beyond the swing point that defined the trend.
- Target
- No fixed target: the first opposing liquidity area.
- Fails if
- A move back beyond the broken level that resumes the old trend.