Trader's Logbook

The Rising wedge on BEL tells us to be careful. Although the price today went up by 1.7% and shy away from the support, the warning is still there. Does the upward move today should have been the best exit for ipits or there will still be some chances along the way?

The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias, rising wedges definitely slope up and have a bearish bias.

This is interesting as we also see an Ascending Triangle on weekly chart (BELLE CORPORATION (weekly chart))

Caveat!