A rising wedge is a bearish pattern when it appears at the top of a mature uptrend. It signifies that a potential top might be in the offing. The duration (short/medium/long term) of the top depends upon the timeframe on which it appears.
Preconditions
------------------
> A strong mature (multi-day/week)trend in the background
> Wave HH1 to be extremely smaller...
We generally talk about breakdown and breakout confirmations. I have tried to present what confirmations actually are and how they are traded.
Some traders use indicators for confirmations, but in this post i have discussed confirmations based on price action only.
Same strategy can be used for breakouts.
Notes on the chart.
Hit like/comment for better...