In this case, the price broke to the down side and the downtrend continued. That’s why it’s called a continuation signal yo!
See how the price made a nice move down that’s the same height as the wedge?
What did we learn so far these Japanese candlestick chart patterns?
A rising wedge formed after an uptrend usually leads to a reversal (downtrend) while a rising wedge formed during a downtrend typically results in a continuation (downtrend).
Simply put, a rising wedge leads to a downtrend, which means that it’s a bearish chart pattern!