Breakout Screens - Rising Wedge Pattern
A rising wedge patterns is considered a reversal pattern within technical analysis. The wedge formation consists of a support and resistance line running in the same direction (upwards) but with different slopes. The formation gradually narrows until eventually the lower trend line is broken, leading to a sell setup.
Wedge chart patterns
Wedge patterns are considered reversal patterns within technical analysis. The wedge formation consists of a support and resistance line running in the same direction but with different slopes. The formation gradually narrows until eventually the lower or upper trend line is broken, leading to a buy or sell signal.
Rising Wedge Pattern
A rising wedge is a chart pattern characterized by two rising trend lines running in the same direction but with different slopes. The lower trend line is steeper than the upper trend line which in itself is a sign that buyers are moving increasingly faster into the market during intermediate price dips.
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Chart Patterns: Rising Wedge - ST
The rising wedge pattern filter
Price: Above 5
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Average Volume: 50 SMA > 200K
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Support and Resistance lines on the chart
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