This type of pattern appears during the correction in a bearish movement, it is a bearish continuation pattern. Resumption of the bearish movement after correction. The break in the support line definitively validates the pattern. The price objective is given by plotting the wedge’s maximum height onto the breaking point NB: pullbacks are harmful to the pattern’s performance.
Statistics of the ascending broadening wedge after a trough
- In 79% of cases, the exit is bearish. - In 23% of cases, an ascending broadening wedge occurs in a consolidation movement. - In 81% of cases, the pattern's price objective is achieved when the support line is broken. - In 40% of cases, the price makes a pullback in resistance on the ascending broadening wedge’s support line.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.