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Rising wedge pattern

Started by forex4you, Mar 22, 2022, 04:32 am

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forex4you

Mar 22, 2022, 04:32 am
Rising wedge pattern




Rising wedge pattern




Bitcoin / U.S. dollar BITSTAMP:BTCUSD

CRYPTO_GEM




Target – 40 .5 -39.5k (sell/short) tight stop loss


A rising wedge in an uptrend is considered a reversal pattern that occurs when the price is making higher highs and higher lows. As the chart below shows, this is identified by a contracting range in prices. The price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.


Source: Rising wedge pattern
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