What's a rising wedge?

Rising wedge is a bearish chart pattern with two intersecting trend lines. Trend lines converge.

First trend line connects recent lower and higher highs; second connects recent lows. The shape is a right triangle. Rising wedges fall.

Since the low is higher than the high and the lower trend line is steeper than the upper one, the rising wedge pattern is bearish.

The only differences between the falling wedges are the triangle angle and the pattern.

The rising wedge (ascending) pattern forecasts declining prices or a breakout to a downtrend, making it bearish.

Despite the wedge capturing higher prices, trading volume reductions may imply sellers are consolidating for a bearish breakout.

The falling wedge (descending) pattern has a negative slope and predicts a rebound, making it bullish.

Rising wedges can be continuation patterns in downtrends or reversal patterns in uptrends.

Wedges rise.

The rising wedge pattern becomes a pizza slice when two trend lines connect. Rising wedges have greater highs and lower lows.

The resistance trend line must encompass pattern peaks. Resistance needs two higher highs.

Create a support trend line from higher lows. You'll need two swing lows to build the support trend line.

The resistance and support trend lines should create a triangle wedge. Rising wedge triangles must point upward.

For a rising wedge pattern, the resistance trend line must slope upward.

The rising wedge pattern is a favorite among traders and technical gurus.

Rising wedges are reversal formations, while triangles are continuation formations.

The ascending wedge pattern's clear entry and exit signals make it ideal for shorting the market or managing long-term HODL positions.

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