Use of wedges.
There are kinds of forex chart pattern that takes after the resemblance of a wedge. Just like the triangles and flags, the wedge has its boundaries defined by two support and resistance trendlines. It could indicate a trend reversal that has formed in the wedge. Such trendlines would converge on each other- they could be directed in a slant downward or upward directions.
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The wedges are similar in construction to a symmeric triangle in that there are trend lines -support and resistance- which band thr price of a security. It signal that traders are still deciding where to take the pair next. There are two types of wedges the falling and the rising wedge. The falling wedge differs on the overall slant of the pattern. It is generally bullish pattern ,signalling that one likely see the price break upwards through the wedge and move uptrend. The rising wedge is a bearish pattern that signal that the security is likely to lead in downward direction. A good upside target would be the height of a wedge formation.