The descending wedge pattern appears within an uptrend when price tends to consolidate, or trade in a more sideways fashion.
Connecting the lower highs and lower lows will reveal the slight downward slant to the wedge pattern before price eventually rises, resulting in a falling wedge breakout to resume the larger uptrend.
Personally I will wait for an additional confirmation of trend continuation looking for a divergence between price and RSI .
I will consider a long entry on the break above resistance ( for those conservative wait for a retest of resistance )
Stop loss will be placed above the last swing low of the wedge or for who is more conservative above the wedge itself .
Always trade with caution :)
Connecting the lower highs and lower lows will reveal the slight downward slant to the wedge pattern before price eventually rises, resulting in a falling wedge breakout to resume the larger uptrend.
Personally I will wait for an additional confirmation of trend continuation looking for a divergence between price and RSI .
I will consider a long entry on the break above resistance ( for those conservative wait for a retest of resistance )
Stop loss will be placed above the last swing low of the wedge or for who is more conservative above the wedge itself .
Always trade with caution :)