PSX · TEXTILE SPINNING · 1 Hour
ELCM Descending Triangle breakout
Elahi Cotton Mills Limited · 06 Nov 2026 · 15:30 PKT
▲ Bullish Breakout Pattern breakout Against the trend
Closed at 232.95 on the breakout. Target 284.25, invalidation 210.00.
Trade plan
● Active- Close
- 232.95
- ▲ 7.85%
- Target
- 284.25
- +22.0%
- Invalidation
- 210.00
- -9.9%
RiskReward
- Reward : risk
- 2.2 : 1
- ATR
- 6.79
- Price now
- 226.50 -2.8%
Outcome measured on the 1 hour 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 1 Hour candles · click to enlarge
The breakdown
ELCM broke above its descending triangle on the hourly close at 232.95.
Projected target 284.25 (+22.0%). The pattern is invalidated beyond 210.00 (-9.9%), a reward-to-risk of about 2.2 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bearish external, bearish internal (strong high 369.99). Nearest demand OB 209.01 - 209.19, supply OB 304.39 - 307.99.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing above the pattern at 232.95.
- 2 The target, 284.25 (+22.0%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 210.00 (-9.9%), cancels the setup.
- 4 Reward : risk is 2.2 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: against the trend.
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).