Rising or falling wedge patterns are modifications of a triangle and can also lead to price reversals. As with the triangle, prices move into a narrower and narrower range as the pattern progresses, looking somewhat like a coil. In a rising wedge, the price highs do not advance as much as the price lows.
When the uptrend line along the lows does give way, prices tend to spring out to the downside. In some cases after the breakout, prices will stage a little rally back to the trend line but will then submit to the loss of buying momentum by sliding into the downtrend direction indicated by the breakout. This kick back price action is a familiar occurrence with a number of breakout patterns.