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...
In our previous post in this series about chart patterns we described the characteristics, rules, and causes of triangle patterns (if you haven't seen it, see the related idea below). In this post, we perform an advanced analysis of broadening wedges patterns. We provide a description of each pattern and its implications. We also review the literature in order to...
Simply switch this LINKUSD chart between the log and linear scale to see an ascending broadening wedge turn into a parallel channel. A nice example of this perspective.
OMGUSD Broadening Wedge