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Falling Wedge Reversal Pattern

Falling wedge reversal pattern is formed at a bottom of a downtrend, indicating that an uptrend would come next.

The falling wedge serves as a reversal signal. After a downtrend, the price made lower highs and lower lows.

Notice how the falling trend line connecting the highs is steeper than the trend line connecting the lows.

Upon breaking above the top of the wedge, the pair made a nice move upwards that’s approximately equal to the height of the formation.

In this case, the price rally went a few more pips beyond that target!

Strength of a bullish and bearish candlesticks

The Symmetrical triangle pattern is generally categorized as a “continuation pattern”, meaning that after the pattern completes, it’s assumed that price will continue in the trend direction it was moving before the pattern appeared.

A triangle pattern is generally considered to be forming when it includes at least five touches of support and resistance.

A symmetrical triangle is a chart formation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle.

What’s happening during this formation is that the market is making lower highs and higher lows.
This means that neither the buyers nor the sellers are pushing the price far enough to make a clear trend. This is also a type of consolidation.

As these two slopes get closer to each other, it means that a breakout is getting near.