Rising Wedge
A rising wedge is a price chart pattern formed by two converging upward-sloping trendlines that enclose rising price action. It often reflects weakening upward momentum and can precede a breakout to the downside or, less commonly, continue higher.
Example: On a daily chart, prices form higher highs and higher lows within two converging upward trendlines; after several weeks the price breaks below the lower line, suggesting the next move could be down.
💬 Comments