ascending wedge patternState Street SPDR S&P 500 ETFBATS:SPYEVIL-Bpattern also known as Ascending Wedge pattern is one of the most reliable, low-risk, and high-reward chart pattern. A Rising Wedge (Ascending Wedge) pattern is a triangle formation with noticeable slant to the upside. The line that connects the bottoms of the formation represents a support trend line. The resistance trend line connects the formation's tops. The Rising Wedge pattern is valid when the price touched both the support and resistance lines alternatively at least tree times. Unlike the Rising Channel formation, where support and resistance lines are parallel, in a Rising Wedge formation the support line is noticeably steeper than the resistance line. A Rising Wedge represents the loss of the upside momentum and has a bearish bias. Is a bearish pattern that usually marks a reversal in an uptrend. In a downtrend, the Rising Wedge is considered as a continuation pattern. As with other triangle formations, the volume usually diminishes as the price rises and then increases during a breakout. The Rising Wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates Divergence on long-term indicators. The height of the formation is the distance between the support and resistance lines at the beginning of the triangle formation (AB). Usually the breakout price's change (CD) approximately equals the height of the pattern formation.