Rising Wedge

Two rising, converging trendlines with the lower one steeper; completes on a close below the lower line.

A rising wedge shows each new high making less progress. Bulkowski finds most break downward. Here only the breakdown counts.

Wedges are drawn with sloping lines, which leave more room for judgment than horizontal levels.

How we define it

Sloping lines: drawn through swing highs or lows with distinct touches (at least 3 candles apart) within about 0.4 ATR; no swing pokes through a line and no close is outside it before the break
At least 3 distinct touches on each line, both lines starting the pattern and both tested in its last third
Both lines rise clearly; the range narrows to 75% or less of its starting height; the break comes before 90% of the way to the apex
Closes reach the top and bottom fifth of the wedge at least twice each
Minimum length: 2 months on 1D, 3 months on 1W, 10 days on 4H
Breakout (up) / breakdown (down): the first candle close beyond the boundary by at least 3% on 1D and 1W (1.5% on 4H)
Failed breaks: a breakout or breakdown that closes back inside the boundary within 6 candles on 4H, 5 on 1D or 3 on 1W is removed from the list
Trend filter: breakouts only above the 200-period EMA (40-week EMA on 1W), breakdowns only below it
Watchlist: the pattern is complete but unbroken and price is within 3% (or 1 ATR, at most 6%) of the boundary