Rising Wedge
A Rising Wedge is a chart pattern within the context of an uptrend composed of two upward sloping and converging trendlines connecting a series of higher swing/pivot highs and higher swing/pivot lows.
Rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend lines. It is considered a bearish chart formation which can indicate both reversal and continuation patterns – depending on location and trend bias. Regardless of where the rising wedge appears, traders should always maintain the guideline that this pattern is inherently bearish in nature.
HOW TO IDENTIFY A RISING WEDGE PATTERN:
~Establishing Downtrend.
~Rising wedge consolidation formation
~Linking higher highs and lower lows using a trend line assembling towards a narrowing point.
~Confirm divergence between price and volume may also be used.
~Look for break below support for short entry.
HOW TO TRADE THE RISING WEDGE PATTERN:
All Details are labelled in the Chart..
A Rising Wedge is a chart pattern within the context of an uptrend composed of two upward sloping and converging trendlines connecting a series of higher swing/pivot highs and higher swing/pivot lows.
Rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend lines. It is considered a bearish chart formation which can indicate both reversal and continuation patterns – depending on location and trend bias. Regardless of where the rising wedge appears, traders should always maintain the guideline that this pattern is inherently bearish in nature.
HOW TO IDENTIFY A RISING WEDGE PATTERN:
~Establishing Downtrend.
~Rising wedge consolidation formation
~Linking higher highs and lower lows using a trend line assembling towards a narrowing point.
~Confirm divergence between price and volume may also be used.
~Look for break below support for short entry.
HOW TO TRADE THE RISING WEDGE PATTERN:
All Details are labelled in the Chart..
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.