Nifty at Rising Wedge pattern for short term.
The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.
Overall: This pattern indicates bearish pattern. Check out my previous post to understand the next trending move.
The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.
Overall: This pattern indicates bearish pattern. Check out my previous post to understand the next trending move.
Trade closed: target reached:
Target reached in the rising wedge support line.
