---
title: "October Bullish Rising Wedge Breakout"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/272305607.md"
description: "The October 16th bullish rising wedge has confirmed a breakout, signaling a potential upward trend. However, the price is currently above the upper Bollinger Band, which may lead to a short-term decline back into the channel. A backtest to the top trend line of the wedge is expected, but not guaranteed. Investors are advised to use any weakness in price to accumulate positions."
datetime: "2026-01-12T18:00:47.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/272305607.md)
  - [en](https://longbridge.com/en/news/272305607.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/272305607.md)
---

# October Bullish Rising Wedge Breakout

_Image Source: Unsplash_  

This morning is the day I’ve been waiting for. The October 16th rising wedge is now a confirmed bullish rising wedge. Whenever you see a massive breakout gap above an important trend line you’ve been following that’s your confirmation signal.  

There is one small caveat for the very short term. Today the price action is trading above the top BB band which it can do for 1 to 3 days or so but the odds are very high that the price action will decline back into the channel. The price action can ride the upper band for long periods of time but you don’t want to see it pierce the upper band. A backtest to the top trend line of the bullish rising wedge should be expected but no 100% guarantee. Use any weakness to accumulate.  

* * *

_More By This Author:_

A Holiday Markets Update  
Unprecedented Bull Market In Precious Metals Complex: What’s Next?  
Backtest Nailed: Silver Breaks Out

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