Rising wedge
Rising wedge or diagonal triangle is a bearish chart pattern that signals an increase to sell, decrement to buying; it consists of two converging trend line where the prices makes a series of higher high, higher lows.
A rising wedge/ diagonal triangle can occur either in an uptrend or downtrend. In a downtrend it occurs as a ‘continuation pattern’ whereas in an uptrend is considered or can be considered as a ‘reversal pattern’ (another form of motive wave can be categorized as two IMPULSE and DIAGONAL TRIANGLE which is also called wedge shaped) .
After the wedge pattern is completed watch out for an imminent breakout to the downside.
A rising wedge/ diagonal triangle can occur either in an uptrend or downtrend. In a downtrend it occurs as a ‘continuation pattern’ whereas in an uptrend is considered or can be considered as a ‘reversal pattern’ (another form of motive wave can be categorized as two IMPULSE and DIAGONAL TRIANGLE which is also called wedge shaped) .
After the wedge pattern is completed watch out for an imminent breakout to the downside.
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