An Introduction to Forex Trading - A Guide for Beginners by Matthew Driver

Author:Matthew Driver [Driver, Matthew]
Language: eng
Format: epub, mobi
Tags: Economics
Publisher: Wells Gray Press
Published: 2011-06-06T21:00:00+00:00

6.5.2 Falling Wedges

In a similar manner to the rising wedge, the falling wedge pattern can also signify either the continuation, or reversal of a trend. When a falling wedge pattern is observed towards the bottom of a downward trend, then this can often suggest that the market is preparing for a price reversal. Alternatively, when a falling wedge is found in a period with an upward trend, then it tends to signify a period of consolidation, where, upon completion of the full pattern, prices could be predicted to move in a continuation of the preceding trend.

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