PSX · SYNTHETIC & RAYON · 1 Hour
NSRM Head & Shoulders forming
The National Silk & Rayon Mills Limited · 06 Nov 2026 · 10:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 200.00
- ▲ 0.00%
- Target
- 136.93
- -31.5%
- Invalidation
- —
- ATR
- 5.90
- 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
NSRM has completed a head & shoulders on the hourly chart with the head at 215.98 and the neckline at 172.94.
The pattern is confirmed by a hourly close below 171.76. The measured move from the neckline points to 136.93 (-20.8%). A close beyond the head at 215.98 cancels it.
Structure: bearish external, bullish internal (strong high 207.00). Nearest demand OB 145.51 - 159.60, supply OB 258.00 - 259.00.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 200.00.
- 2 The target, 136.93 (-31.5%), is the pattern's height projected from the breakout.
- 3 Trend context: with the trend.
Pattern guide
About the head and shoulders
A head and shoulders is a topping pattern: three peaks with the middle one highest, resting on a "neckline" whose break often ends an uptrend.
- Confirmation
- A close below the neckline.
- Target
- The height from the head to the neckline, projected down from the break.
- Fails if
- A close back above the right shoulder or the neckline.