PSX · MODARABAS · 30 Min
FTMM Bearish change of character
First Treet Manufacturing Modaraba · 06 Nov 2026 · 10:00 PKT
▼ Bearish CHoCH Market structure · CHoCH
Structure levels
- Close
- 18.01
- ▼ 5.31%
- Broken level
- 18.02
- +0.1%
- CHoCH level
- 22.70
- +26.0%
- ATR
- 0.21
- 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
FTMM closed below the external strong low at 18.02 - the external trend turns bearish.
The 30-minute close at 18.01 confirms it. The new external CHoCH level (strong high) is 22.70: a close beyond it would change the character back.
Structure: bearish external, bearish internal (strong high 22.70). Nearest demand OB 15.50 - 16.00, supply OB 19.35 - 19.39.
How to read this signal
- 1 Price closed below the swing level at 18.02, breaking the market structure.
- 2 The structure would flip back on a close beyond the CHoCH level, 22.70 (+26.0%).
- 3 Structure signals carry no fixed target: the next liquidity area is the usual objective.
Pattern guide
About the change of character (choch)
A change of character (CHoCH) is the first close against the trend's structure, breaking the swing low of an uptrend or the swing high of a downtrend: an early sign of reversal.
- Confirmation
- A candle close beyond the swing point that defined the trend.
- Target
- No fixed target: the first opposing liquidity area.
- Fails if
- A move back beyond the broken level that resumes the old trend.