Interestingly, flags and pennants are short, no longer than three weeks. This is an arbitrary value where there is a small knot of congestion in a strong price run and once the knot unties (breaks out), price should continue on its way. Moreover, if the chart pattern does not have a...
Trading Flags and Pennants Patterns Flags and pennants chart patterns are primarily known for signaling a continuation of the previous trend. The flag or pennant chart pattern is formed right after a bullish or bearish price movement followed by a period of consolidation. This is where price ...
Flags and Pennants are a series of tight and short price bars that often appear about 50% of the way through a sharp price move. I find that they provide excellent risk and reward trades. They may appear in bullish up moves or bearish down moves and they represent a small congestion are...
* Performance results for flags are based on the short-term price swing, not the change from the breakout to the ultimate high or low as in most other chart patterns. That's why I don't show a rank and that's why the average rise/decline is so small....
Flags and Pennants: Whats great about flags? Well for one thing they are everywhere and on every time frame. I actually have a technique on the 1 minute chart that is up close to 85% success rate when it appears. This you will find on the futures HPS section. Flags also usually consi...
Flags and Pennantsdoi:10.1002/9781119203537.ch11Flagsprice runcontinuation patternstriangular‐shaped chart patternpennantparallel trendlinesconverged trendlinesflagpoleJohn Wiley & Sons, Inc.Visual Guide to Chart Patterns
Flags and pennants are short-term continuation patterns; after the formation of one of these patterns, the exchange rate has a tendency to continue moving in the same direction as it was prior to the consolidation. These patterns are generally found on short-term or intraday charts.Ed Ponsi...