Falling Wedge Pattern
Updated
Dear Bear-traders: The earth turns, but we don't feel it move!
Dear Bull-traders: It is the result of my efforts to offer a simple, clear, and correct (I hope) presentation.
1- Falling Wedges are Bullish Patterns. It is formed by two converging bearish lines.
2- The higher than average volume helps confirm the breakout.
3- To confirm a real breakout, we can take the help of RSI and other indicators.
4- The steeper the falling wedge’s trend lines, the more severe the upward breakout.
5- The breakout point generally occurs at 60% of the length of the falling wedge.
6- Wide falling wedges give better performance than narrow falling wedges
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