PSX · CABLE & ELECTRICAL GOODS · 1 Hour
WAVES Inverse Head & Shoulders forming
Waves Corporation Limited · 04 Nov 2026 · 12:30 PKT
▲ Bullish Forming Chart pattern Against the trend
Trade plan
- Close
- 8.70
- ▲ 1.75%
- Target
- 10.44
- +20.0%
- 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
WAVES has completed an inverse head & shoulders on the hourly chart with the head at 7.90 and the neckline at 9.14.
The pattern is confirmed by a hourly close above 9.17. The measured move from the neckline points to 10.44 (+14.3%). A close beyond the head at 7.90 cancels it.
Structure: bearish external, bullish internal (strong high 9.35). Nearest demand OB 8.25 - 8.43, supply OB 9.62 - 9.88.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing above the pattern at 8.70.
- 2 The target, 10.44 (+20.0%), 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.