A rising wedge is indeed bearish. However, he is saying there are more bullish signs -inverse head and shoulders and the Elliott Wave count- than the bearish signs. Although most rising wedges break down, not all do. He is suggesting that due to the bullish signs, the wedges may be invalidated.
A rising wedge is indeed bearish. However, he is saying there are more bullish signs -inverse head and shoulders and the Elliott Wave count- than the bearish signs. Although most rising wedges break down, not all do. He is suggesting that due to the bullish signs, the wedges may be invalidated.