PSX · EXCHANGE TRADED FUNDS · Daily
NITGETF Descending Triangle breakout
NIT Pakistan Gateway ETF · 05 Nov 2026
▲ Bullish Breakout Pattern breakout With the trend
Closed at 34.05 on the breakout. Target 40.39, invalidation 31.44.
Trade plan
- Close
- 34.05
- ▲ 1.43%
- Target
- 40.39
- +18.6%
- Invalidation
- 31.44
- -7.7%
RiskReward
- Reward : risk
- 2.4 : 1
- ATR
- 0.75
- 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 Daily candles · click to enlarge
The breakdown
NITGETF broke above its descending triangle on the daily close at 34.05.
Projected target 40.39 (+18.6%). The pattern is invalidated beyond 31.44 (-7.7%), a reward-to-risk of about 2.4 : 1. A close back inside the pattern within 12 candles is treated as a fake-out.
Structure: bullish external, bearish internal (strong low 30.55). Nearest demand OB 20.00 - 20.11.
How to read this signal
- 1 The breakout was confirmed by the daily candle closing above the pattern at 34.05.
- 2 The target, 40.39 (+18.6%), is the pattern's height projected from the breakout.
- 3 A move to the invalidation level, 31.44 (-7.7%), cancels the setup.
- 4 Reward : risk is 2.4 : 1: the distance to the target divided by the distance to invalidation.
- 5 Trend context: with the trend.
Pattern guide
About the descending triangle
A descending triangle is a falling upper trendline meeting flat support; a close below support usually continues the fall, a close above the trendline signals a reversal.
- 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 (a fake-out).