Let us now look at a recent chart to see how the rising wedge played out.
As evidenced by the above chart, the breakout did occur, and the price traded at lows below R192 before bouncing back to retest the breakout level.
This is a trade we still have on the radar, and a retest of the breakout level around R203-R205, will be the signal to go short for a take profit target below R192.
Moving on, let us also look at JSE Listed PSG Group, which had a rising wedge pattern which also played out nicely:
Last week I featured a Bitcoin daily chart breaking out of a descending triangle chart pattern.
Today I have a lower timeframe Bitcoin chart; the hourly chart, showing how the price broke out of a rising wedge pattern that had formed.
On our trading desk, we do have a lot more trading ideas and set up that we come up with.
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That is how we conclude our 5 Part series of 5 CHART PATTERNS THAT WORKS.