PSX · CABLE & ELECTRICAL GOODS · 30 Min
WAVES Rising Wedge forming
Waves Corporation Limited · 11 Nov 2026 · 15:00 PKT
▼ Bearish Forming Chart pattern With the trend
Lines to watch
Awaiting breakout- Close
- 9.17
- ▲ 0.22%
- Upper line
- 9.47
- +3.3%
- Lower line
- 8.77
- -4.4%
- ATR
- 0.11
- 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 30 Min candles · click to enlarge
The breakdown
WAVES is compressing inside a rising wedge on the 30-minute chart - 5 swing points, 16.2x ATR wide at the start.
Upper line 9.47, lower line 8.77. The pattern favours a downside resolution: a 30-minute close above 9.49 confirms an upside breakout, a close below 8.75 a downside break.
Structure: bearish external, bullish internal (strong high 9.35). Nearest demand OB 8.82 - 8.91, supply OB 9.55 - 9.71.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 30 min chart.
- 2 A 30 min close above 9.47 (+3.3%) would be an upside breakout.
- 3 A 30 min close below 8.77 (-4.4%) would be a downside breakout.
- 4 Until one of the lines breaks, there is no target or invalidation level.
Pattern guide
About the rising wedge
A rising wedge is two upward-sloping lines that converge; the buying loses momentum and a break below the lower line is usually bearish.
- Confirmation
- A close below the lower wedge line.
- Target
- The wedge's widest height, projected down from the breakout.
- Fails if
- A close back above the lower line or above the wedge's last high.