When you use ascending and descending wedge or triangle chart patterns for trading, you know which way the price will go after the breakout, but symmetrical wedges and triangles dont give you a clear direction. … the profit target is measured by taking the height of the back of the wedge and by extending that distance up from the trend line breakout. It doesnt matter if this consolidation takes place after an uptrend or a downtrend.The ascending wedge pattern can form when the stock is either in an uptrend or a downtrend market. The pattern is also known as ascending wedge due to the way it appears on a chart.
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