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Weekly Pattern:Rising Wedge
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- 3/20/2020 -
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How to Trade Rising Wedge Chart Pattern

Rising Wedge Chart PatternA Rising Wedge (or Ascending Wedge) pattern is one of the most reliable, low-risk, and high-reward chart pattern. A Rising Wedge pattern is a triangle formation with noticeable slant to the upside. The line that connects the bottoms of the formation represents a support trend line. The resistance trend line connects the formation's tops. The Rising Wedge pattern is valid when the price touched both the support and resistance lines alternatively at least tree times. Unlike the Rising Channel formation, where support and resistance lines are parallel, in a Rising Wedge formation the support line is noticeably steeper than the resistance line. A Rising Wedge represents the loss of the upside momentum and has a bearish bias.
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