A Beginner’s Guide to Classical Chart Patterns
FLAGS:
A flag is an area of consolidation that’s against the direction of the longer-term trend and happens after a sharp price move. It looks like a flag on a flagpole, where the pole is the impulse move, and the flag is the area of consolidation.
Bull Flag:
The bull flag happens in an uptrend, follows a sharp move up, and it’s typically followed by continuation further to the upside.
