PSX · TEXTILE WEAVING · 1 Hour
ASHT Descending Triangle forming
Ashfaq Textile Mills Limited · 06 Nov 2026 · 08:30 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 39.78
- ▲ 2.26%
- Upper line
- 39.70
- -0.2%
- Lower line
- 35.72
- -10.2%
- ATR
- 1.11
- 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
ASHT is compressing inside a descending triangle on the hourly chart - 5 swing points, 9.9x ATR wide at the start.
Upper line 39.70, lower line 35.72. The pattern favours a downside resolution: a hourly close above 39.92 confirms an upside breakout, a close below 35.50 a downside break.
Structure: bearish external, bullish internal (strong high 70.00). Nearest demand OB 22.00 - 23.52, supply OB 54.20 - 57.00.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 39.70 (-0.2%) would be an upside breakout.
- 3 A 1 hour close below 35.72 (-10.2%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- Confirmation
- A candle close outside the triangle.
- Target
- The triangle's widest height, projected from the breakout.
- Fails if
- A close back inside the triangle soon after the break (a fake-out).