Trading Wedges - Quick Guide in 5 Steps

[lingriiddd]

Welcome back everyone to another guide, today we will speed run "Trading wedges" in a quick 5 step guide. Be sure to like, follow and join the community!

1. Identify the wedges:

• Falling Wedge
• Rising Wedge
• Symmetrical Wedge (Triangle)
  

2. Identify Breakout Direction:

• Falling Wedge > Bullish Breakout Expected
• Rising Wedge > Bearish Breakout Expected
• Symmetrical Wedge (Triangle) > Consolidation Expected
  Breakout should show a candle closing outside the wedge.
  

3. Wait for retest to take place on previous key level or resistance (which would now be support)
   If the retest holds with a strong rejection candle or consolidation - begin to long.
   
   RESULTS:
   Price has soared up high and hit all three Take profits.
   
   For trader who are wanting more profits you can potentially enable TP trailing afterwards - however I don't recommend this as you need to factor in your emotions of "GREED"

Thank you all so much for reading! Hopefully this is a useful guide in the future or present! If you would like me to make any simplified guides, let me know in the comments below or contact me through trading view!

[Nahid Hossen]

Wedges are underrated—clean breakouts often follow them.

[Rimon Khan]

People are finally realizing the true value—downtrend expected.

[Rimon Khan]

Focus beats multitasking—own one skill deeply, then expand.