View: Analyzing Chart Patterns: The Wedge | Investopedia

A rising wedge is a bearish pattern that signals that the security is likely to head in a downward direction. The trendlines of this pattern converge, with both trendlines slanted in an upward direction. 
Once the breakdown happens, the target is reached very quickly. Unlike other patterns, where a confirmation must be shown before a trade is taken, wedges often do not need confirmations; they normally break and drop fast to their targets. Targets are usually located at the beginning of the upper trendline, or the first pivot high where the trendline is connected.