PSX · TEXTILE COMPOSITE · 1 Hour
TOWL Head & Shoulders forming
Towellers Limited · 06 Nov 2026 · 08:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Trade plan
- Close
- 122.00
- ▼ 2.78%
- Target
- 107.25
- -12.1%
- Invalidation
- —
- ATR
- 2.29
- 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
TOWL has completed a head & shoulders on the hourly chart with the head at 135.00 and the neckline at 122.31.
The pattern is confirmed by a hourly close below 121.85. The measured move from the neckline points to 107.25 (-12.3%). A close beyond the head at 135.00 cancels it.
Structure: bullish external, bullish internal (strong low 92.50). Nearest demand OB 99.00 - 99.50, supply OB 146.16 - 154.00.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 122.00.
- 2 The target, 107.25 (-12.1%), is the pattern's height projected from the breakout.
- 3 Trend context: against 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.