Quote from: Zilon on June 10, 2023, 07:00:33 AM

Nice job! This rising wedge forms higher lows and lower highs and this is one strong indication for a reversal because since the highs is not going above the highs of the previous high it Shows the bears are gradually entering the market in which if this moves and forms a wedge in an uptrend there is a big chance of a sell. Some times there is a fake break out towards the bull and if one doesn't understand this wedge pattern the fall towards the wrong price direction following the fake break out.

Thanks! That is correct, the higher highs are getting shorter and shorter which indicates the bears are getting in control. Fake break out it is always important to wait for the confirmation and watch out guidelines strictly.