![]() ![]() This information is made available for informational purposes only. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. Tune in to our live webinars for live access to our DailyFX experts discussing trading strategies, tips, news and forecasts on many different markets.At DailyFX we researched over 100,000 live IG Group accounts to find out the secrets of successful traders and published the findings in our Traits of Successful Traders guide.For more insight on trading the forex market, take a look at our top forex strategies to find the one that suits you.If you are just starting out on your trading journey it is essential to understand the basics of forex trading in our new to forex guide.Consider other chart patterns like the head and shoulders, double top and double bottom that can enhance your pattern recognition.Opportunity for favourable risk-reward ratiosĬan signify reversal or continuation patternsįurther Reading on Forex Trading Patterns Requires additional confirmation using other technical indicators and oscillators Occurs frequently within financial marketsĭefines clear stop, entry and limit levels ![]() Advantages and Limitations of the Rising Wedge AdvantagesĮasy to identify for more experienced traders The limit in this example was taken from the previous swing low giving this trade an extremely positive risk-reward ratio. This identification point makes it relatively simple to locate the stop level for novice traders. The stop level as highlighted on the chart is elected from the high point of the rising wedge located on the resistance trend line.
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