I understand that you may find this request silly, but I am eager to learn more. Could someone kindly provide a detailed explanation of the wedge pattern and its functioning? Thank you, everyone.
Hi,
There is no such thing as a silly question. Look at the top right hand side of the screen to the left of your avatar, you will see a magnifying glass icon. Hover your mouse over it and it will show the text “Search topics, posts, users, or categories”. Click on the magnifying glass icon and type in “wedge patterns”, and you will see many references to past posts on this subject. Example snipped below. May the search be with you.
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it is a chart formation that happen in price charts.
and also it has 2 kinds rising and falling wedge.
My bible for chart and candlestick patterns is always Thomas Bulkowski’s work - see thepatternsite.com.
He forensically analyses patterns but also then couples this research with actual trading tactics. Actually he doesn’t think much of wedges.
Please note his research is based on D1 charting of various markets, but excluding forex.
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interesting (didn’t know that) … neither do i
they’re very “open to interpretation” (i’m trying to be polite)
in my mind, they’re in the same group as Elliott waves, Fibonacci retracements, homeopathic remedies and all the other stuff people swear by, for which i’ve never seen anything other than carefully cherry-picked, anecdotal evidence, myself
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Not something I’ve ever tried personally. On D1 I would get too bored waiting for the wedge to print.
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What are your thoughts on wedges and patterns in general?
I think they’re maybe 50% illusion. Like the canals of Mars.
For practical purposes, I can’t see the advantage of waiting for as long as it takes for a good wedge to form, surely there will be numerous trend-following entry signals before that if price is in a trend, and as many counter-trend signals if that’s the preference.
HI @Mondeoman
hope doin’ well.
Thank you for saying that.
I didn’t know about that. sorry for bothering you.
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so you are saying that it is not practical??
and your bible think it is not commonly used 
? yes?
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hey.
I didn’t get that finally you agree or not about wedge?
Yeah i understand that how it would be a pain in the neck to wait an hour and watch the chart.
you think that because you should wait more than an hour to see the chart it is not useful?
they’re not helpful to me, and i find them hard to interpret, so i don’t use them, myself … but you might find some value in them that i have missed, so don’t let me put you off! 
There will have been plenty of alternative entry signals given by the chart well before the wedge completes, and many will have the advantage of being objective.
What I mean is that there can be no doubt when price moves or closes above a certain previous level or MA. But if any group of average traders looks at a wedge, several will argue it’s not there, or it’s not complete, or it’s too weak to trade off, or it’s a trap.
You must surely agree that wedges are not simple to trade, else we wouldn’t be having this discussion in the first place.
There is no “functioning” in a wedge pattern…
A wedge is simply a price action formation where price is trending but at the same time finding a support or resistance area, so the trend is “slowing down”, and momentum is contracting.
This said, the trend may resume or reverse at any time… you can’t know What Will happen, so if you’re trading wedges, keep a jornal and see if they are profitable for you after trading at least 50 of them ( demo or real, Who cares)
Thank you very much.
I get what you’re attempting to say.
However, understanding what others think is another method to learn.
Your analysis’s are all based on chart moving?
I did knew that wedge is sort of complex
thanks it was helpful.
I see mostly in this topic disagree and find this wedge pattern sort of not helpful or handy.
thank you all