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Significance of wedges
What is the significance of a wedge? I mean I know how to identify one and know what it is, but how is it useful for our trading purposes? what does coming across a wedge mean?
Have you done the course?
Wedges are what dreams are made of.
What i was told is a wedge is basically buying pressure and selling pressure and each is compressing. Sort of like when you shake up a soda bottle and the top finally blows off due to the pressure. One side has to win and the break out of the wedge is like the release of that compression. They're buy far my favorite setup. Wedges come in all shapes and sizes and arent created equal. There are different traits to look for to help you in deciding which have the higher probability of going in your favor.