PSX · TEXTILE COMPOSITE · 1 Hour
FML Descending Triangle forming
Feroze1888 Mills Limited · 05 Nov 2026 · 09:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 40.50
- ▲ 1.28%
- Upper line
- 41.16
- +1.6%
- Lower line
- 39.11
- -3.4%
- ATR
- 0.60
- 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
FML is compressing inside a descending triangle on the hourly chart - 5 swing points, 8.0x ATR wide at the start.
Upper line 41.16, lower line 39.11. The pattern favours a downside resolution: a hourly close above 41.28 confirms an upside breakout, a close below 38.99 a downside break.
Structure: bullish external, bearish internal (strong low 34.05). Nearest demand OB 37.50 - 38.00, supply OB 49.56 - 50.49.
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 41.16 (+1.6%) would be an upside breakout.
- 3 A 1 hour close below 39.11 (-3.4%) 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).