Example of Rising wedge in GBPUSD 4H TF
This is a pure example of Rising wedge chart pattern to trade on.
This pattern is bounded by two converging trend lines. We know this pattern is usually traded for a reversal trend. It is a bearish pattern which signals us the pair is likely heading downward.
Though, it is also indicates that a continuation of the trend. If it fails to break the bottom trendline (Support) and which can lead us to have new high.
Everything is depending on the trendlines are broken or not.
This pattern is bounded by two converging trend lines. We know this pattern is usually traded for a reversal trend. It is a bearish pattern which signals us the pair is likely heading downward.
Though, it is also indicates that a continuation of the trend. If it fails to break the bottom trendline (Support) and which can lead us to have new high.
Everything is depending on the trendlines are broken or not.
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