Ascending and Descending Wedges
Ascending Wedges in an uptrend-bearish
This pattern occurs when the slope of price candles highs and lows join at a point forming and inclining wedge. The slope of both lines is up with the lower line being steeper than the higher one. Place and order to breakdown and out of the wedge. The drop out of the wedge can be very dramatic.
( click to enlarge the image)
Descending Wedge in a downtrend-bullish
Ascending Wedges in an uptrend-bearish
This pattern occurs when the slope of price candles highs and lows join at a point forming and inclining wedge. The slope of both lines is up with the lower line being steeper than the higher one. Place and order to breakdown and out of the wedge. The drop out of the wedge can be very dramatic.
( click to enlarge the image)Descending Wedge in a downtrend-bullish
This formation occurs when the slope of price candle high and lows join a forming a declining wedge. The slope of both line is down with the upper line being steeper than the lower one. To trade this pattern, place an order on a break up and out of the wedge.
(Click to enlarge the image)
(Click to enlarge the image)
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