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I gathered that parabolic wedge is one where the slope of the wedge increases. I am seeing quite a few examples that dont fit this criteria. I am trying to figure out what the right definition is.
Can you help me understand this more clearly?
Here is an example from Encyclopedia of chart patterns which is marked as a Parabolic wedge but the slope does not increase:
Hi Ravi,
Course video 24D: Parabolic Wedges
Parabolic wedges may have accelerating slope but it's not a requirement to have a PW.
By Al's definition a PW:
- Consists of 3 consecutive climaxes (often can be seen as spike + 2 pushes)
- Is a Tight Channel
- Often leads to reversal if occurs at start of session
- Has gaps between legs
- Curve itself may or may not be parabolic
Hope that helped!
CH
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Mr. Carpet,
Thank you so much for clarifying and pointing out the video for me. I could not have asked for a better clarification on this!
