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