AGX - Bullish Wedge Bullish Wedge CP Pattern on the Daily Timeframe (Daily TF)
The Bullish Wedge CP (Continuation Pattern) is a technical chart pattern that signals a potential uptrend continuation after a period of consolidation. On the daily timeframe, this pattern can provide strong signals for medium to long-term entries.
Characteristics of the Bullish Wedge CP Pattern:
Previous Trend is Uptrend:
This pattern appears after a strong upward price movement.
Price Moves in a Contracting Formation:
Price forms a narrowing wedge — with lower highs and lower lows that converge over time.
Declining Volume:
During the wedge formation, volume usually decreases, indicating a market pause or rest.
Breakout to the Upside:
Once the price breaks the resistance of the wedge with increasing volume, it signals a strong bullish continuation.
Continuation Pattern Confirmation:
After the breakout, the price typically retests the breakout zone before continuing upward — this indicates a healthy trend continuation.
Entry Strategy:
Entry: After a breakout and a confirmation candle closes above the wedge line.
Stop Loss (SL): Placed below the wedge’s low.
Take Profit (TP): Use the wedge’s height projection or target the next resistance level.
