RISING WEDGE

Top Reversal Pattern (Only Selling Trades)

Formation :
1. Uptrend with Narrow Trading Range in the end of pattern.
2. Price will try to form a new high but with a narrow trading range.
3. Both Support and Resistance lines are Slope Up.
4. Minimum 2 points of Support and 2 points of Resistance.

Points to Remember :
1. Short term formation so focus on 1-2 hour or 30 minutes time frame.
2. It’s a Kind of Triangle Pattern so target calculation from “C” point.
3. Make sure the Support line & Resistance line Is Slope up only up to
within 30 Degree.

Condition for Breakdown:

1. Healthy Red Candle Closing below Support Line.
2. Volume confirmation should be there always in all the case of
Breakdown. Check Volume above 20MA line.

Information By: CityInvest Divish S.

Website : ​https://www.cityinvestwisely.com
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How to Take trades :
Make Sure your Breakdown Candle is a Healthy RED Candle. Example is
for learning & Pattern formation Purpose.
Target Calculation from “C” Point.
Stop loss 1:1 Risk Reward.
Don’t try in long term charts, Only few Rising Wedge work in long term
charts, so short term charts good trades will be there.

Thumb rule time frame for Target :​ Half of the time frame of formation.
Like : If a pattern took 2 Months to form, then it will achieve tgt in the next
30-35 days that’s the minimum time frame for holding period.

Information By: CityInvest Divish S.

Website : ​https://www.cityinvestwisely.com
Facebook : ​www.facebook.com/cityinvestmentservices
Telegram Stocks: ​https://t.me/cityinvest
Telegram FNO: ​https://t.me/cityfno
Telegram Crypto : ​https://t.me/citycryptocurrency
Telegram Global Stocks :​ ​https://t.me/cityglobalstocks