Rising Wedge
a.k.a. Ascending wedge
A pattern where price climbs within two rising lines that squeeze together, often a sign the rally is…
In plain English
A pattern where price climbs within two rising lines that squeeze together, often a sign the rally is losing steam.
A rising wedge forms when price makes higher highs and higher lows, but the lows are rising faster than the highs, so the two trend lines converge. It looks bullish on the surface, yet each push higher gains less ground. The buyers are getting tired.
It is usually treated as a bearish pattern: traders watch for price to break down through the lower line. Its upside-down twin is the falling wedge.
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