Wedge Chart Formation - Pause In Current Trend
Definition of Wedge Chart Formation A Wedge Chart Formation is created when price fluctuations converge to a point on a straight line. There are two types of wedge formations: rising and falling. The wedge chart formation is not a trend reversal pattern, but only a temporary pause in the current trend. Volume in a wedge formation like other triangles, diminishes as the formation develops. In order to draw a valid wedge, the trend pattern must be compact with frequent price fluctuations and tightly bound lines that converge to a point. Falling Wedge A falling wedge formation develops as price continues to converge to a point after falling rapidly. ...
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