Chart pattern: Descending broadening wedge
Case 2: Formation of a descending broadening wedge after a peak
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+ In 79% of cases, the exit is bullish
+ In 23% of cases, a descending broadening wedge occurs in a consolidation movement
+ In 81% of cases, the pattern's price objective is achieved when the resistance line is broken
+ In 40% of cases, the price makes a pullback in support on the descending broadening wedge’s resistance line
Case 2: Formation of a descending broadening wedge after a peak
-------------------
+ In 79% of cases, the exit is bullish
+ In 23% of cases, a descending broadening wedge occurs in a consolidation movement
+ In 81% of cases, the pattern's price objective is achieved when the resistance line is broken
+ In 40% of cases, the price makes a pullback in support on the descending broadening wedge’s resistance line
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.