Rising WedgePrice has broken bottom trendline of upper rising wedge. Price has not broken the2nd lower rising wedge except for one candle close. (orange question mark) A rising wedge is not valid until lower trendline is broken and is a bearish chart formation.
Both trendlines slope up in a RW and narrow at the apex. The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.
The wedge pattern can be used as either a continuation or reversal pattern, depending on where it is found on a price chart. There are two types of wedge pattern: the rising (or ascending) wedge and the falling (or descending wedge).
A rising wedge in an uptrend is considered a reversal pattern that occurs when the price is making higher highs and higher lows. As the chart below shows, this is identified by a contracting range in prices. The price is confined within two lines which get closer together to create a pattern. This indicates a slowing of momentum and it usually precedes a reversal to the downside. This means that you can look for potential selling opportunities.
No recommendation/The alligator is trying to tilt upward but in an ideal alligator the red line should be on top in this chart.
