Hello, Just wondering if some experienced technical analysts could provide some information about the rising wedge pattern. Have noticed the upside breakout of this 1.5 year pattern in the NAS over the past week, but from what I understand the rising wedge is normally a bearish pattern... Are wedges normally shorter term patterns? Does that fact invalidate this pattern? Can we consider this to be a failed bearish signal and play it on the long side? Any help would be greatly appreciated! -Ben
ive been seeing something similar, except i see a monsterous bear flag going back to 2000, the flag starting in 2002, but for the flag /wedge to register it has to break to the downside (thru support).. right now it looks like its tracing out. Its true that rising wedges are NORMALLy bearish but that doesn't mean always!
Rising wedges can break either way. Most of the times down, But if up, it will follow. We are in a bull market right now for sure. This pullback retrace we are seeing right now is nothing.