PSX · ENGINEERING · 1 Hour
CSAP Rising Wedge forming
Crescent Steel & Allied Products Limited · 13 Nov 2026 · 11:30 PKT
▼ Bearish Forming Chart pattern Against the trend
Lines to watch
Awaiting breakout- Close
- 89.01
- ▲ 2.91%
- Upper line
- 90.94
- +2.2%
- Lower line
- 85.23
- -4.2%
- ATR
- 1.28
- 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
CSAP is compressing inside a rising wedge on the hourly chart - 5 swing points, 7.1x ATR wide at the start.
Upper line 90.94, lower line 85.23. The pattern favours a downside resolution: a hourly close above 91.20 confirms an upside breakout, a close below 84.97 a downside break.
Structure: bullish external, bullish internal (strong low 77.10). Nearest demand OB 79.50 - 81.49, supply OB 92.30 - 92.43.
How to read this signal
- 1 Not triggered yet: the pattern is still forming on the 1 hour chart.
- 2 A 1 hour close above 90.94 (+2.2%) would be an upside breakout.
- 3 A 1 hour close below 85.23 (-4.2%) 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.