Bullish Wedge CP Pattern on the Daily Timeframe (Daily TF)
The Bullish Wedge CP (Continuation Pattern) is a technical chart pattern that signals a potential uptrend continuation after a period of consolidation. On the daily timeframe, this pattern can provide strong signals for medium to long-term entries.
Characteristics of the Bullish Wedge CP Pattern:
Previous Trend is Uptrend:
This pattern appears after a strong upward price movement.
Price Moves in a Contracting Formation:
Price forms a narrowing wedge — with lower highs and lower lows that converge over time.
Declining Volume:
During the wedge formation, volume usually decreases, indicating a market pause or rest.
Breakout to the Upside:
Once the price breaks the resistance of the wedge with increasing volume, it signals a strong bullish continuation.
Continuation Pattern Confirmation:
After the breakout, the price typically retests the breakout zone before continuing upward — this indicates a healthy trend continuation.
Entry Strategy:
Entry: After a breakout and a confirmation candle closes above the wedge line.
Stop Loss (SL): Placed below the wedge’s low.
Take Profit (TP): Use the wedge’s height projection or target the next resistance level.
The Bullish Wedge CP (Continuation Pattern) is a technical chart pattern that signals a potential uptrend continuation after a period of consolidation. On the daily timeframe, this pattern can provide strong signals for medium to long-term entries.
Characteristics of the Bullish Wedge CP Pattern:
Previous Trend is Uptrend:
This pattern appears after a strong upward price movement.
Price Moves in a Contracting Formation:
Price forms a narrowing wedge — with lower highs and lower lows that converge over time.
Declining Volume:
During the wedge formation, volume usually decreases, indicating a market pause or rest.
Breakout to the Upside:
Once the price breaks the resistance of the wedge with increasing volume, it signals a strong bullish continuation.
Continuation Pattern Confirmation:
After the breakout, the price typically retests the breakout zone before continuing upward — this indicates a healthy trend continuation.
Entry Strategy:
Entry: After a breakout and a confirmation candle closes above the wedge line.
Stop Loss (SL): Placed below the wedge’s low.
Take Profit (TP): Use the wedge’s height projection or target the next resistance level.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.