PSX · TEXTILE COMPOSITE · 1 Hour
PASM Ascending Triangle forming
Paramount Spinning Mills Limited · 06 Nov 2026 · 14:30 PKT
▲ Bullish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 9.90
- ▼ 0.90%
- Upper line
- 10.52
- +6.3%
- Lower line
- 9.74
- -1.6%
- ATR
- 0.42
- 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
PASM is compressing inside an ascending triangle on the hourly chart - 5 swing points, 9.0x ATR wide at the start.
Upper line 10.52, lower line 9.74. The pattern favours an upside resolution: a hourly close above 10.60 confirms an upside breakout, a close below 9.66 a downside break.
Structure: bullish external, bullish internal (strong low 6.11). Nearest demand OB 8.07 - 8.93, supply OB 12.00 - 12.81.
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 10.52 (+6.3%) would be an upside breakout.
- 3 A 1 hour close below 9.74 (-1.6%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the ascending triangle
An ascending triangle is rising support meeting flat resistance; a close above resistance usually continues the rise, a close below support signals weakness.
- 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.