11. How to Trade the Wedge Chart Pattern Like a Pro Part 1
June 9, 2010 by
Filed under futures market
www.informedtrades.com The 5th lesson in a series on charting patterns which goes over the rising and falling wedge patterns for traders of the forex market, stock market, and futures market.
What a bore this guy is!
Don’t day trade – buy good stocks at good prices, and build yourself a small fortune!
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Dave, how can you consider these wedges? I understand that you have been using wedges on these hourly, minute charts, but there are certain criteria that need to be met when considering wedges and pennant. As they are very much alike, though, the only difference is their time duration of the chart formation. Generally speaking from what I have read, wedges are required to have a minimum of 3 weeks, otherwise they are considered a pennant.
Thanks
FreakyShrimp, you can find all of those statistics in “Encyclopedia of Chart Patterns” it gives more than enough information on all questions you may have or don’t need. It’s written by I think Thomas Bulwiski or something like that
i found megapips sytem
todaymarketsignalsdotblogspotdotcom/
Hello David, thanks for your series of excellent videos.I am interested if you have any statistics on the various techniques that you mention.For example what percent of the time does a falling wedge lead to a trend reversal etc.?
How about riding the pattern with a good entry point and with a stop just above/below depending on the course of the pattern?
wow your a guru
Okay my bad for the misunderstanding. Thanks for clarifying that!
-Brendan
My comment was directed towards graveyard909, not Dave nor you( Brendan ), Dave is very clear and to the point.
Hey TheProphiting,
This is one of Dave’s older almost oldest videos. I think he has improved quite a bit from when he started, but I will forward your comment on to him.
-Brendan
Your sentence structure is not very clear or your point. Raise a clear well structured paragraph if you want to make a valid point, and as always, use correct spelling in all of your words. Thank you, this will help all of us learn from you.
who are u man…you know..nobody is compelling you to follow up. There are other videos in youtube..just get there out…leave us. we know how to trade/talk/walk and dump
Hey Graveyard, if you can do better, why dont you show us.
To be frankly, these videos doesn’t help and make worse when people believe your theories. Because these theories were all PAST, not future. If you want to teach or help new investors, tell them with the half chart, which means, the chart that doesn’t appear to be double top or double bottom, still in progress and take action, BUY or SELL? NOT just speak from chart, but do it LIVE, then you are real, or you are just lame. Talk the talk is EASY, a 6 year old can do that! Can you walk the walk?
LOL… The Falling Wedge continuation pattern: continuation of the uptrend – yeah, after it retraces 100% of its uptrend! Personally, I wouldn’t call that a continuation of the uptrend! In fact, when it got back up to its top, where it supposedly is continuing up from, it found resistance and turned back down! LOL…
Hi Dave, I noticed that you are not really using volume to establish the base of your wedge nor are you really using a volume increase to confirm your breakout… You did have an increase of volume on the breakout of your second and third wedge though. Is it that you do not use volume or did you just not have the time to mention it being that it is a relatively short video?
Hi JeffreyOsb, Thanks for the comment and for watching I am glad you like the videos. I am not familiar with funnel lines, are you referring to channel lines? Best Regards, Dave
Hello David, great tutorials. I’ve been watching all of them and I’m going to keep following up on the rest. This question isn’t related to the wedge but simply is there a good application that you can recommend for drawing funnel lines? I can generally tell with my eye where they stand but it’s always easier to physically see them.
Thanks in advance.
Hi aasyraf,
I mispoke there when I said bullish. My apologies will correct in the next version thanks for pointing that out. Best Regards, Dave
Hi dave
at 2:22 you mentioned that if you fing a Rising Wedge Continuation Pattern it is a Bullish Signal, which means it will continue in an uptrend. I understand that the Rising Wedge Continuation pattern when located in a downtrend results in a continuation of that downtrend.
I am confused!
thanks
Hi Evgenykravchenko, Thanks for the comment. As with any tool in technical analysis I think most traders would say you could use this on any time frame. As a general rule however the longer the time frame a pattern is found on the more relevant it is thought to be. Hope that helps. Best Regards, Dave
this pattern is really sketcy… What day range would you apply this to? weekly, hourly, monthly?
Thanks a lot for the comments Jawad I am glad you like the videos. Best Regards, Dave
thanks for the response and i would like to say i like u r videos a lot . anytime i ll have a question contact u .
jawad Morocco
Hi Afellatjawad, Thanks for the comment. They do not have to touch all the tops and bottoms in a trend however you need at least two points to draw the lines off of. The lines also do not have to be exact but should be as close to the top or bottom of the trend as possible. Hope that helps let me know if you have any other questions. Best Regards, Dave