A Rising Wedge is a chart pattern in technical analysis that is formed when price moves in a diagonal upwards trend, with both trendlines converging.
This pattern is considered bearish because it signals a potential reversal of the current uptrend. As the pattern progresses, the price movement becomes more and more confined, which often results in a downward breakout.
This downward move signals a potential trend reversal, and traders often view it as a selling opportunity.
This pattern is considered bearish because it signals a potential reversal of the current uptrend. As the pattern progresses, the price movement becomes more and more confined, which often results in a downward breakout.
This downward move signals a potential trend reversal, and traders often view it as a selling opportunity.