Forex Trading using the Rising Wedge Pattern

A common reversal pattern that is predictive and may provide traders a hint as to the direction and size of the upcoming price move is the rising wedge. They occur frequently in the financial markets, and traders are drawn to the pattern due to how easy it is to recognize and exploit. The identification and trading of rising wedges on forex charts will be covered in this article.
WHAT IS A RISING WEDGE PATTERN?

This pattern in forex sometimes referred to as the ascending wedge pattern, is a strong price consolidation pattern that develops when the price is constrained between two rising trend lines. It is regarded as a bearish chart formation that, depending on the position and trend bias, may show both reversal and continuation patterns. Traders should always adhere to the rule that the rising wedge is essentially negative regardless of where it emerges (see image below).

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