Rising wedge trading11/18/2023 ![]() Never risk more than 1-2% of your account on a single trade. Manage risk appropriately for your account size.Book partial profits at Fibonacci levels.Set stop loss beyond opposite side of pattern.Enter on breakout confirmation near the breakdown point.Wait for a confirmed breakout – don’t anticipate.Identify previous trend – wedges are continuation patterns.When trading rising wedges, it’s essential to maintain disciplined strategies: Use Fib levels to target potential take profit zones. Take partial profits at the -127% or -161% Fibonacci extension levelsīearish breakdowns don’t occur as frequently, but can result in sharp declines when they do happen.Place a stop loss above the wedge resistance line.Enter a short position as close to the breakout as possible.Wait for a confirmed close below rising wedge support.Look for a preceding downtrend before the wedge formed. ![]() Use Fib levels to target potential take profit areas.
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