A chart pattern with converging support and resistance going against the trend usually reflecting a period of consolidation or congestion
The wedge formation should be narrow and have the support and resistance lines against the previous trend, and also eventually converging. This pattern reflects indecision, but can lead to continuation if the market breaks strongly in the same direction as the previous trend.
Upon a breakout in the direction of the trend, a a signal for a swing with the same strength as the previous is projected.
