Two shapes of Rising Wedge Patterns
I have explained about Rising Wedge Patterns on this Tutorial in detail.
Rising Wedges are bearish pattern and it generates bearish signal; Rising Wedge Patterns forms with Higher Highs and Higher Lows.
Rising Wedge pattern basically forms in two shapes ; If rising wedge pattern forms in an uptrend it will make reversal and if rising wedge pattern forms in a downtrend it will make continuation.
The higher highs and the lower lows along makes a trend resistance and trend support. When breakout occurs downside, price breaks the trend support line.
In rising wedge breakout occurs downside 60 to 70% of the time.
To confirm a true breakout, we can take help of Volume indicator. In a true breakout there will be big volume than usual.
We should use other indicators like MACD and RSI also to confirm that it will turn bearish before taking entry in a trade. (We can see MACD divergence, RSI Divergence and where the RSI is...)
Thank You;
Stay Tuned 👍, more tutorials and strategies coming!
Rising Wedges are bearish pattern and it generates bearish signal; Rising Wedge Patterns forms with Higher Highs and Higher Lows.
Rising Wedge pattern basically forms in two shapes ; If rising wedge pattern forms in an uptrend it will make reversal and if rising wedge pattern forms in a downtrend it will make continuation.
The higher highs and the lower lows along makes a trend resistance and trend support. When breakout occurs downside, price breaks the trend support line.
In rising wedge breakout occurs downside 60 to 70% of the time.
To confirm a true breakout, we can take help of Volume indicator. In a true breakout there will be big volume than usual.
We should use other indicators like MACD and RSI also to confirm that it will turn bearish before taking entry in a trade. (We can see MACD divergence, RSI Divergence and where the RSI is...)
Thank You;
Stay Tuned 👍, more tutorials and strategies coming!
Catatan
Example : Catatan
Check out Falling Wedge pattern : 
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.