PSX · INSURANCE · 1 Hour
PIL Head & Shoulders forming
PICIC Insurance Limited · 03 Nov 2026 · 09:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 5.00
- ▲ 0.00%
- Target
- 2.76
- -44.8%
- Invalidation
- —
- ATR
- 0.16
- 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
PIL has completed a head & shoulders on the hourly chart with the head at 5.90 and the neckline at 4.34.
The pattern is confirmed by a hourly close below 4.31. The measured move from the neckline points to 2.76 (-36.4%). A close beyond the head at 5.90 cancels it.
Structure: bearish external, bullish internal (strong high 6.62). Nearest demand OB 3.86 - 4.20.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 5.00.
- 2 The target, 2.76 (-44.8%), 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.