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Rising Wedge

Technical Analysis

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A Rising Wedge is a bearish pattern that uses two highs to form an upwards sloping resistance line and 2 lows to form an upward sloping support line. The lines should be converging. It is important to know that the distance between the swing lows and the swing highs will narrow, even though price is rising. This implies weakening demand. When price breaks the lower support a short sale is signaled. A high risk entry is waiting for price to break the up sloping lower trendline and entering. For a low risk entry wait for the smallest or most recent trough before the break of the lower trendline to be broken before entering. The stop should be on the far side of the rising wedge, above the most recent swing high.

Volume will decrease as the pattern develops. The price will rise after the breakout to the bottom. The target is measured by taking the distance between the highest peak and the lowest trough and projecting that distance down from the resist line break.

Note that the rising wedge can also be a bearish reversal pattern. Rising Wedge Reversals are treated exactly the same as the continuation pattern. The only difference is the prior trend.

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