Asset: Pakistan Stock Exchange Ltd. (PSX – PSX)
Timeframe: 30-Min Chart
Setup Type: Double Top + Rising Wedge Breakdown
Trade Plan – Short Position
Entry Zone: ~27.00 (Rejection near resistance trendline)
Stop-Loss (SL): 27.67 (Breakout high + wedge invalidation)
Take Profit Targets:
TP1: 25.98 – Previous breakout level
TP2: 25.03 – Horizontal support
TP3: 23.60 – Trendline base
Risk-Reward Calculation
🟥 Risk: ~0.67/share
🟩 Reward to TP3: ~3.40/share
R/R Ratio: ~1 : 5+ – High-efficiency pullback play
Technical Highlights
Double top rejection at supply zone
Rising wedge breakdown with selling pressure
Bearish engulfing near resistance
Volume spike confirms reversal intent
Risk Management Strategy
Move SL to breakeven after TP1
Lock profits at TP2
Let remainder trail to TP3
️ Setup Invalidation If:
Price breaks and closes above 27.67
Bullish consolidation instead of pullback
Breakout volume resumes
Final Thoughts
Bearish structure with strong reward potential
Clean rejection at multi-day resistance
Ideal short setup post breakout exhaustion
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