What Happens in Gold Trading after a Rising Wedge Pattern?
A Rising wedge chart pattern is a bullish continuation pattern - This is a market signal which shows the current gold trend is taking a pause before resuming the current up direction of the price gold.
If the Rising wedge up-ward continuation pattern forms it signals the market is taking a pause before resuming the present up trend. The Rising wedge continuation pattern in a up trend is known as a rising wedge pattern which signals that the price is consolidation but keeps moving higher and higher forming a pattern that resembles a rising wedge. Traders should await for confirmation of the Rising wedge pattern before you open a trade based on this bullish continuation pattern. Once there's a price breakout to the upside then the Rising wedge continuation pattern is confirmed & prices will then continue moving in the direction of the current up trend.
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