PSX · ENGINEERING · 30 Min
MUGHALC Head & Shoulders forming
Mughal Iron & Steel Industries Ltd(C) · 30 Oct 2026 · 16:00 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 60.50
- ▼ 2.42%
- Target
- 46.34
- -23.4%
- Invalidation
- —
- ATR
- 1.48
- 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
MUGHALC has completed a head & shoulders on the 30-minute chart with the head at 68.00 and the neckline at 55.86.
The pattern is confirmed by a 30-minute close below 55.56. The measured move from the neckline points to 46.34 (-17.0%). A close beyond the head at 68.00 cancels it.
Structure: bearish external, bearish internal (strong high 70.00). Nearest demand OB 49.45 - 49.46.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 60.50.
- 2 The target, 46.34 (-23.4%), 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.