PSX · ENGINEERING · 1 Hour
MUGHAL Bullish change of character
Mughal Iron & Steel Industries Limited · 10 Nov 2026 · 13:30 PKT
▲ Bullish CHoCH Market structure · CHoCH
Structure levels
- Close
- 63.48
- ▲ 1.23%
- Broken level
- 63.40
- -0.1%
- CHoCH level
- 56.96
- -10.3%
- ATR
- 0.84
- 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
MUGHAL closed above the external strong high at 63.40 - the external trend turns bullish.
The hourly close at 63.48 confirms it. The new external CHoCH level (strong low) is 56.96: a close beyond it would change the character back.
Structure: bullish external, bullish internal (strong low 56.96). Nearest demand OB 60.90 - 61.85, supply OB 74.40 - 75.39.
How to read this signal
- 1 Price closed above the swing level at 63.40, breaking the market structure.
- 2 The structure would flip back on a close beyond the CHoCH level, 56.96 (-10.3%).
- 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.