Formation of an ascending broadening wedge after a trough.
This type of pattern appears during the correction in a bearish movement, it is a bearish continuation pattern. Resumption of the bearish movement after correction.
Statistics of the ascending broadening wedge after a trough
- In 79% of cases, the exit is bearish.
- In 23% of cases, an ascending broadening wedge occurs in a consolidation movement.
- In 81% of cases, the pattern's price objective is achieved when the support line is broken.
- In 40% of cases, the price makes a pullback in resistance on the ascending broadening wedge’s support line.
This type of pattern appears during the correction in a bearish movement, it is a bearish continuation pattern. Resumption of the bearish movement after correction.
Statistics of the ascending broadening wedge after a trough
- In 79% of cases, the exit is bearish.
- In 23% of cases, an ascending broadening wedge occurs in a consolidation movement.
- In 81% of cases, the pattern's price objective is achieved when the support line is broken.
- In 40% of cases, the price makes a pullback in resistance on the ascending broadening wedge’s support line.