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- The Wedge chart pattern can be either a continuation or reversal pattern.
- It is similar to a Symmetrical Triangle except that the Wedge Pattern slants in an upward or downward direction, while the symmetrical triangle generally shows a sideways movement.
- The other difference is that Wedges tend to form over longer periods, usually between three and six months.
- The fact that Wedges are classified as both continuation and reversal patterns, can make reading signals confusing.
- However, at the most basic level, a falling wedge in an uptrend is bullish and a rising wedge in a downtrend is considered bearish.