NB: a line is said to be 'valid' if the price line touches the support or resistance at least 3 times. The upper line is the resistance line the lower line is the support line.Įach of these lines must have been touched at least twice to validate the pattern. It is formed by two converging bullish lines.Ī rising wedge is confirmed/valid if it has good oscillation between the two bullish lines.
A rising wedge is a bearish chart pattern (said to be 'of reversal').