Wedges Bullish and Bearish

[dny5k]

So with bullish and bearish wedges, despite being called bullish for example this means it is likely a breakout to the upside is likely but it could also be a breakout to the downside as well/

[flamingoproxy]

@dny5k

despite being called bullish for example this means it is likely a breakout to the upside is likely but it could also be a breakout to the downside

this is right

it’s about probabilities (isn’t everything, in trading?)

but you have the principle right, certainly

in practice, they’re difficult to interpret, and i do think it’s probably significant that Bulkowski (the widely acclaimed/accredited “arch-guru” of chart patterns) doesn’t think much of them

but i may be biased by always having found them very difficult, myself

these threads may help you:

Rising and Falling Wedge Patterns with Supply & Demand

The falling and rising wedge patterns occur frequently and play out as expected more often than not. However, you should avoid trading any and every wedge pattern that you see on the chart. It is best to make sure there is context for the pattern to play out as expected. The wedge patterns have a higher probability when combined with Supply and Demand. Having a falling wedge terminate at a demand zone or a rising wedge terminate at a supply zone is a strong confluence. Falling wedge terminati…

How to understand the falling wedge and rising wedge?

Hello there, traders! Here are some educational chart patterns that you should be aware of in 2022 and 2025. I hope you find this information useful and educational. We are new here, so please help us by liking and commenting on our posts. Please leave any questions in the comments, and we’ll do our best to answer them all. [image] What Is a Wedge? A wedge is a price pattern on a price chart that is defined by converging trend lines. The two trend lines are drawn to connect the highs and …

Rising Wedge Pattern

Please see this pattern from babypips school. Rising Wedge: [image] and [image] [I]In this first example, a rising wedge formed at the end of an uptrend. Notice how price action is forming new highs, but at a much slower pace than when price makes higher lows. See how price broke down to the downside? That means there are more forex traders desperate to be short than be long! They pushed the price down to break the trend line, indicating that a downtrend may be in the cards Read more: H…

[MattyMoney]

I stopped looking at patterns a long time ago, results are too inconsistent.

The only patterns I pay attention to now are double/triple tops/bottoms (indicating SR levels) and channels (indicating trend), on the 4H or higher timeframes.

Used in combination with long term price action, I personally find these quite reliable.

[dny5k]

Ah ok that makes sense. I think a lot of patterns are diificult to interpret and can be unreliable however what timeframes should I be focusing on for identifying patterns?

[flamingoproxy]

@dny5k

I think a lot of patterns are diificult to interpret and can be unreliable

yes, i agree

some more so than others (i find higher/lower highs and lows helpful and easier)

@dny5k

what timeframes should I be focusing on for identifying patterns?

i think it’s just a case of "the higher the timeframe, the more reliable and less ‘noisy’ "