PSX · TEXTILE COMPOSITE · 30 Min
TOWL Descending Triangle forming
Towellers Limited · 27 Oct 2026 · 15:00 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 122.00
- ▲ 0.54%
- Upper line
- 123.11
- +0.9%
- Lower line
- 119.12
- -2.4%
- ATR
- 1.01
- 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
TOWL is compressing inside a descending triangle on the 30-minute chart - 5 swing points, 20.2x ATR wide at the start.
Upper line 123.11, lower line 119.12. The pattern favours a downside resolution: a 30-minute close above 123.31 confirms an upside breakout, a close below 118.92 a downside break.
Structure: bullish external, bullish internal (strong low 113.00). Nearest demand OB 111.02 - 112.00, supply OB 128.25 - 130.68.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 123.11 (+0.9%) would be an upside breakout.
- 3 A 30 min close below 119.12 (-2.4%) 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).