Nova-56 › USDJPY (US Dollar / Japanese Yen) · 4h
Rising Wedge
Drag to rotate, scroll to zoom.
Draw it on TradingView
No bar counting. Copy the Pine Script and paste it into TradingView; the pattern, breakout, target and invalidation lines are drawn on exactly these candles.
- 1.Copy the script and open the chart on TradingView.
- 2.Open the Pine Editor at the bottom, clear it and paste.
- 3.Click "Add to chart"; the drawings appear.
Swing points
| Point | Candle open (UTC) | UTC | Bar # | Price |
|---|---|---|---|---|
| L1 | Sep 30, 01:00 AM | Sep 30, 01:00 AM | 0 | 156.383 |
| H2 | Oct 1, 05:00 AM | Oct 1, 05:00 AM | 7 | 158.467 |
| L3 | Oct 3, 01:00 PM | Oct 3, 01:00 PM | 21 | 156.390 |
| H4 | Oct 14, 12:00 PM | Oct 14, 12:00 PM | 87 | 158.962 |
| L5 | Oct 15, 12:00 PM | Oct 15, 12:00 PM | 93 | 157.501 |
| BRK | Oct 21, 08:00 AM | Oct 21, 08:00 AM | 157.919 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- ResistanceSep 30, 01:00 AM · 158.423 → Oct 21, 04:00 AM · 159.210
- SupportSep 30, 01:00 AM · 156.268 → Oct 21, 04:00 AM · 157.906
This pattern's track record
On the 4h chart
32%
Target reached after breakout
- Breakout rate
- 76%
- Reached half the target
- 54%
- Average time to target
- 8.3 days
- Cases
- 202 resolved cases
All timeframes
36%
Target reached after breakout
- Breakout rate
- 79%
- Reached half the target
- 56%
- Average time to target
- 11.6 days
- Cases
- 791 resolved cases
What is this pattern?
Highs and lows both rise, but lows rise faster so the channel narrows. A close below the lower line usually targets the area where the wedge began.
A close above the last high invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.