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Ascending and descending wedges are price action compression within trends, not standalone patterns.

From How to Spot a Liquidity Trap (Before You Lose Money) · jumps to 16:58 · speech

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Well, we could view this as a bull flag or we could just say, hey, this isn't an uptrend. We're getting a pullback within a higher time frame uptrend. It's generating liquidity in that pullback to give us more juice for higher. Same thing goes for all of these types of wedges and all of these types of triangles, right? When price is compressing into a point. Looking at this and saying, okay, well, this is a ascending wedge or a descending wedge. All you're describing is the price action going into the actual pattern, right? So if we have an ascending wedge, right, price is squeezing, but it's going up, right? That means it was in an uptrend on the way up there. And then maybe we're going to run that high and then break down.
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