PSX · ENGINEERING · 30 Min
ASTL Bear Pennant breakdown
Amreli Steels Limited · 04 Nov 2026 · 10:30 PKT
▼ Bearish Breakout Pattern breakout Against the trend
Closed at 17.26 on the breakout. Target 15.06, invalidation 17.59.
Trade plan
● Active- Close
- 17.26
- ▼ 0.98%
- Target
- 15.06
- -12.7%
- Invalidation
- 17.59
- +1.9%
RiskReward
- Reward : risk
- 6.7 : 1
- ATR
- 0.28
- Price now
- 17.30 +0.2%
Outcome measured on the 30 min bars after the signal: target or invalidation, whichever is touched first; a bar touching both counts as invalidated.
- 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
ASTL broke below its bear pennant on the 30-minute close at 17.26.
Projected target 15.06 (-12.7%). The pattern is invalidated beyond 17.59 (+1.9%), a reward-to-risk of about 6.7 : 1.
Structure: bullish external, bullish internal (strong low 14.10). Nearest demand OB 16.28 - 16.36, supply OB 19.41 - 19.78.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing below the pattern at 17.26.
- 2 The target, 15.06 (-12.7%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 17.59 (+1.9%), cancels the setup.
- 4 Reward : risk is 6.7 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against the trend.
Pattern guide
About the bear pennant
A bear pennant is a sharp fall followed by a small symmetrical triangle; a break below it usually continues the fall.
- Confirmation
- A close below the pennant.
- Target
- The length of the pole, projected down from the breakout.
- Fails if
- A close above the pennant.