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Dr C. Roffey wrote:
>
> A rising wedge is certainly NOT a continuation pattern. It is the most
> vicious of all reversal patterns. You are confusing the rising wedge with a
> rising triangle. The normal rising wedge wipes out at least the whole of
> the wedge gains in about one third of the time taken to form the wedge.
Check Murphy page 160 and 161 (or any other book on the subject). Wedges
are continuation patterns more often than reversal patterns. However a
rising wedge is a BEARISH continuation pattern and certainly NOT a
bullish continuation pattern. In general rising wedges are bearish where
falling wedges are bullish.
Julius de Kempenaer.
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