The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Wedge
Number of records: 26
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- 5/26/2023 -
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ALK 45.101.30%73.0652.74 9 66 Downtrend Broken Resist.Add to Watch List
AON 310.67-5.03%15.5160.92 4 102 1 05/23/23	Bearish  Long Red Real Body
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BWA 47.172.21%71.3749.82 7 37 05/22/23	Bullish  Long White Real Body
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CMG 2071.02-1.67%42.7486.39 7 108 5 Add to Watch List
CSX 30.81-4.64%21.0062.82 9 74 2 Add to Watch List
ED 92.69-2.63%10.2754.68 6 65 1 Add to Watch List
EWI 30.47-2.43%20.7163.59 3 05/25/23	Bullish  Doji
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GLD 180.92-1.48%17.1057.68 2 Add to Watch List
KR 47.31-4.69%35.3168.19 10 114 5 Add to Watch List
LKQ 53.59-3.89%15.0741.04 7 62 1 05/25/23	Bullish  Meeting Lines
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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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