A wedge formation is an indication that forex traders are still deciding where to take their next trading position.Ī falling wedge is a chart pattern that signals future bullish movement, occurring when price moves in an upward direction, with the trend lines sloping down.Ī rising wedge is a chart pattern that indicates future bearish price movement that takes place in a downward price trend, with the trend lines sloping up.Ī rising wedge chart pattern is formed when the price movement of a currency or security (asset) tightens and consolidates between two upward sloping and converging trend lines, respectively the support and resistant line. The rising wedge, also called the ascending wedge, is one of two wedge patterns, the other one being the falling or descending wedge.Ī wedge pattern signals a pause in a current price trend and can be observed as either a continuation or reversal pattern, depending on where it occurs on a price chart. Best banks for Forex Trading in South AfricaĪ rising wedge is a bearish chart pattern used in technical analysis comprising two upward sloping and converging trendlines, respectively connecting a series of higher pivot highs and a series of higher pivot lows.What time the Forex Market opens in South Africa.Forex Traders to Follow on Youtube Forex Trader.
