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Bear Wedge
The Bear Wedge appears similar to the Ascending Triangle in that it has a rising
bottom. However the main difference is that the prior trend is down and it can
have a flat to slightly ascending top. The following diagram will illustrate this.
The Bear Wedge comes in after a downtrend and traders take profits and attempt
to accumulate, however volume often dries up and the pattern fails. Once the
prior swing lows are taken out and the trendline violated, traders liquidate long
positions and sellers begin to come in. The pattern has an extension the length of
the prior downleg. Notice that I refer to longs liquidating and new sellers
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