How to trade RISING WEDGE?
Trend: Bullish/Bearish
Type: Bilateral
Timeframe: From 1h
Shape: Two narrowing support and resistance lines between
which the price moves
Entry point: After the price closes outside of the pattern
Differences from a
triangle: The main difference from the triangle pattern - is the
slope of the resistance and support lines
Touches: The minimum number of touches is 5, three on one line
and two on the other
Line angle: The slope of the support line is steeper than the slope
of the resistance line
Volume: Increase of the volumes in the breakout zone
Confirmation: The pattern is confirmed when the price closes outside
one of the trendlines
Support/Resistance: After the price closes outside of the pattern, the
support or resistance line may become a mirror level
Breakout chance: 70% - Downward/30% - Upward