The rising wedge is a reversal pattern and here, the first pattern we see an inverted rising wedge. Therefore, the trend should have reversed, which it did.
The second pattern that we see is a falling wedge. When this pattern is found in an uptrend, it is considered a bullish pattern.
The third pattern we see currently forming is similar to the first. It is an inverted rising wedge which indicates a reversal of trend is near!
The second pattern that we see is a falling wedge. When this pattern is found in an uptrend, it is considered a bullish pattern.
The third pattern we see currently forming is similar to the first. It is an inverted rising wedge which indicates a reversal of trend is near!
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Disclaimer
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.