PSX · TEXTILE SPINNING · 1 Hour
KOHTM Head & Shoulders forming
Kohat Textile Mills Limited · 11 Nov 2026 · 09:30 PKT
▼ Bearish Forming Chart pattern With the trend
Trade plan
- Close
- 89.70
- ▼ 1.41%
- Target
- 67.53
- -24.7%
- Invalidation
- —
- ATR
- 2.07
- 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
KOHTM has completed a head & shoulders on the hourly chart with the head at 102.50 and the neckline at 83.62.
The pattern is confirmed by a hourly close below 83.21. The measured move from the neckline points to 67.53 (-19.2%). A close beyond the head at 102.50 cancels it.
Structure: bearish external, bearish internal (strong high 210.00). Nearest demand OB 55.00 - 55.10, supply OB 98.00 - 102.50.
How to read this signal
- 1 The breakout was confirmed by the 1 hour candle closing below the pattern at 89.70.
- 2 The target, 67.53 (-24.7%), 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.