$AIXBT Performing falling wedge pattern

Trading strategy

Identify and Confirm:

Look for the two converging, downward-sloping trendlines with at least two touches on each. Volume should ideally decrease as the pattern develops.

Wait for Breakout:

A bullish signal occurs when the price breaks above the upper trendline.

Confirm Breakout:

Confirm the breakout with an increase in trading volume.

Manage Risk:

Set a stop-loss order below the lower trendline and a take-profit target by projecting the wedge's widest point upward from the breakout.


Reliability
The falling wedge is considered a reliable bullish pattern with a reported success rate of 74% in bull markets. Its reliability is strengthened by increasing volume upon breakout.