Not valid until bottom line is broken. Rising wedges can be long term patterns but are eventually broken.
The rising wedge pattern typically occurs after an uptrend and signals a potential reversal in the security's price. It is a bearish chart formation commonly observed in technical analysis within the context of trading and investment. It is characterized by converging trendlines, where both the support and resistance trendlines are sloping upward.
Strong trends are the result of an imbalance between buyers and sellers. At each price, buyers and sellers are transacting. If there’s an imbalance with a lot of buyers and no sellers, then the price must readjust quickly to higher levels, which will hopefully attract more sellers into the marketplace. This can lead to a sell off due to oversupply of buyers.
If the higher pricing fails to draw in more sellers, then the price will continue to quickly readjust higher. This swift readjustment creates strong uptrends that begin to attract more buyers, who fear missing out on a powerful trend (known as FOMO, or fear of missing out).
Overbought with RSI on 70. Mine is set on 80 for high momentum securities.
NO RECOMMENDATION
The rising wedge pattern typically occurs after an uptrend and signals a potential reversal in the security's price. It is a bearish chart formation commonly observed in technical analysis within the context of trading and investment. It is characterized by converging trendlines, where both the support and resistance trendlines are sloping upward.
Strong trends are the result of an imbalance between buyers and sellers. At each price, buyers and sellers are transacting. If there’s an imbalance with a lot of buyers and no sellers, then the price must readjust quickly to higher levels, which will hopefully attract more sellers into the marketplace. This can lead to a sell off due to oversupply of buyers.
If the higher pricing fails to draw in more sellers, then the price will continue to quickly readjust higher. This swift readjustment creates strong uptrends that begin to attract more buyers, who fear missing out on a powerful trend (known as FOMO, or fear of missing out).
Overbought with RSI on 70. Mine is set on 80 for high momentum securities.
NO RECOMMENDATION
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.