The wedge formation is also similar to a symmetrical triangle in appearance, in that they have converging trendlines that come together at an apex.  However, wedges are distinguished by a noticeable slant, either to the upside or to the downside.   (As with triangles, volume should diminish during its formation and increase on its resolve.)

A falling wedge is generally considered bullish and is usually found in uptrends.  But they can also be found in downtrends as well.  The implication however is still generally bullish.  This pattern is marked by a series of lower tops and lower bottoms.

A rising wedge is generally considered bearish and is usually found in downtrends.  They can be found in uptrends too, but would still generally be regarded as bearish.  Rising wedges put in a series of higher tops and higher bottoms.  

The information contained here was gathered from sources deemed reliable, however, no claim is made as to its accuracy or content.  This does not contain specific recommendations to buy or sell at particular prices or times, nor should any of the examples presented be deemed as such. There is a risk of loss in trading and investing and you should carefully consider your financial position before making any trades.  The reference to statistical probabilities does not pertain to profitability, but rather to the direction of the market. The size and the duration of the markets move, as well as entry and exit prices ultimately determines success or failure in a trade and is in no way represented in these statistics.  This is not, nor is it intended to be, a complete study of chart patterns or technical analysis and should not be deemed as such.