Rising Wedge vs Ascending Triangle

The differentiation of rising wedge and ascending triangle patterns is exceptionally difficult task to automate. The reason being is that ascending triangle with slighly tilted trangle does look like risging wedge.

 

So we have not included the separate ascending triangle pattern detection in our software. So in fact, slightly tilted ascending triangle may be deteced within risging wedge patterns.  

So when there is rising wedge pattern appear. You will see ocassional rear breakout text on our Price Breakout Pattern Scanner. This is exactly what I meant by "ocassional rear breakout".

When you see quite flat angle rising wedge patterns, you have be doubt about having slighly tilted ascending triangle and you need to be prepared for rear breakout.

Here is very good example, where rising wedge patterns and slightly tilted ascending triangle looks very similar. Rear breakout pattern happens.

 

 

 

 

Just for compariosn purpose, I will also show you more complete form of rising wedge patterns. Also note that even with complete form of rising wedge patterns you can still have rear breakout. The essense of this trading strategy is that you trade on breakout.