Falling and Rising Wedge

The Wedge price patterns are shaped like cones.

Falling Wedge
Bullish reversal chart pattern
Appears after an extended downtrend
Pattern starts wide then prices contract
2 converging falling trendlines
Wedge slopes down against the trend
Prices make lower highs and lower lows
Requires at least 2 reaction highs and 2 reaction lows
Volume expands at the breakout of the upper resistance trendline
Projected price target:  add the widest part of the wedge to the breakout point

Rising Wedge
Bearish reversal chart pattern
Appears after an extended uptrend
Pattern starts wide the prices contract
2 converging rising trendlines
Wedge slopes up against the trend
Prices make higher highs and higher lows
Requires at least 2 reaction highs and 2 reaction lows
Volume expands at the breakout of the lower support trendline
Projected price target:  add the widest part of the wedge to the breakout point