PSX · MODARABAS · 1 Hour
FECM Head & Shoulders forming
First Elite Capital Modaraba · 11 Nov 2026 · 14:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 17.98
- ▼ 0.06%
- Target
- 12.37
- -31.2%
- Invalidation
- —
- ATR
- 0.47
- 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
FECM has completed a head & shoulders on the hourly chart with the head at 21.23 and the neckline at 16.53.
The pattern is confirmed by a hourly close below 16.44. The measured move from the neckline points to 12.37 (-25.2%). A close beyond the head at 21.23 cancels it.
Structure: bearish external, bearish internal (strong high 21.23). Nearest demand OB 15.54 - 15.56, supply OB 23.10 - 23.89.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 17.98.
- 2 The target, 12.37 (-31.2%), is the pattern's height projected from the breakout.
- 3 Trend context: with 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.