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All About Ascending and Descending Wedges In Trading

Discussion in 'Candlestick Patterns' started by Lily, Oct 23, 2015.

  1. Lily

    Lily Forum Member

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    Ascending Wedge in an uptrend-bearish

    This pattern occurs when the slope of price candles; highs and lows join at a point forming an inclining wedge. The slope of both lines is up with the lower line being steeper than the higher one. Place an order to break down and out of the wedge. The drop out of the wedge can be very dramatic.

    upload_2015-10-23_9-49-0.png

    Descending Wedge in a downtrend – bullish

    This formation occurs when the slope of the price candle high and lows join at a point forming a declining wedge. The slope of both lines is down with the upper line being steeper than the lower one. To trade this pattern, place an order on a break up and out of the wedge.

    upload_2015-10-23_9-49-18.png

    upload_2015-10-23_9-49-40.png

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