Rising Wedge Pattern. The rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend lines. It becomes bearish once price fails the base of the wedge.
It is a type of formation in which trading activities are confined within converging straight lines which form a pattern. The rising wedge (also known as the ascending wedge) pattern is a powerful consolidation price pattern formed when price is bound between two rising trend lines. The formation of the rising wedge pattern in a downtrend has only one difference there will be a prior downtrend and then there will be rising wedge pattern.