Hi Sunil,
As per theory, the requirements for rising wedge confirmation are
a) a fall in volumes as the wedge forms
b) Wedge formation to be below 50% Fibonacci
In this case the volumes are increasing within the wedge and the current levels are just above 50% Fibonac (have to check the Fibonac bit).
May just be a false signal. What do you feel?
Also, what if this ends up generating an ascending triangle formation, in which case it would be a continuation pattern? (hopefully)
As per theory, the requirements for rising wedge confirmation are
a) a fall in volumes as the wedge forms
b) Wedge formation to be below 50% Fibonacci
In this case the volumes are increasing within the wedge and the current levels are just above 50% Fibonac (have to check the Fibonac bit).
May just be a false signal. What do you feel?
Also, what if this ends up generating an ascending triangle formation, in which case it would be a continuation pattern? (hopefully)