PSX · EXCHANGE TRADED FUNDS · 30 Min
MIIETF Inverse Head & Shoulders forming
Mahaana Islamic Index ETF · 04 Nov 2026 · 10:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Trade plan
- Close
- 16.09
- ▲ 0.12%
- Target
- 18.31
- +13.8%
- Invalidation
- —
- ATR
- 0.10
- 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
MIIETF has completed an inverse head & shoulders on the 30-minute chart with the head at 14.21 and the neckline at 16.40.
The pattern is confirmed by a 30-minute close above 16.42. The measured move from the neckline points to 18.31 (+11.7%). A close beyond the head at 14.21 cancels it.
Structure: bearish external, bullish internal (strong high 16.69). Nearest bullish FVG 16.01 - 16.09.
How to read this signal
- 1 The breakout was confirmed by the 30 min candle closing above the pattern at 16.09.
- 2 The target, 18.31 (+13.8%), is the pattern's height projected from the breakout.
- 3 Trend context: against the trend.
Pattern guide
About the inverse head and shoulders
An inverse head and shoulders is a bottoming pattern: three troughs with the middle one lowest, whose neckline break often starts an uptrend.
- Confirmation
- A close above the neckline.
- Target
- The depth from the head to the neckline, projected up from the break.
- Fails if
- A close back below the right shoulder or the neckline.