PSX · EXCHANGE TRADED FUNDS · Daily
MZNPETF Bullish change of character
Meezan Pakistan ETF · 11 Nov 2026
▲ Bullish CHoCH Market structure · CHoCH
Structure levels
- Close
- 18.25
- ▲ 0.11%
- Broken level
- 18.24
- -0.1%
- CHoCH level
- 16.24
- -11.0%
- ATR
- 0.32
- 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
MZNPETF closed above the external strong high at 18.24 - the external trend turns bullish.
The daily close at 18.25 confirms it. The new external CHoCH level (strong low) is 16.24: a close beyond it would change the character back.
Structure: bullish external, bullish internal (strong low 16.24). Nearest demand OB 16.95 - 17.11, supply OB 19.40 - 19.88.
How to read this signal
- 1 Price closed above the swing level at 18.24, breaking the market structure.
- 2 The structure would flip back on a close beyond the CHoCH level, 16.24 (-11.0%).
- 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.