Able to find the steeper pole and identified as a Flag pattern able go for a Long Position Also able to find the bearish Flag Pattern and there is steeper pole going downwards with high volume able to do the short position
, , FLAG Pattern
, , FLAG Pattern
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Bullish View
Bearish View
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Hi,
The first leg of the bullish flag pattern is characterized by a sharp rally in price in the direction of the current trend(at least 2-3 days sharp rally in the steeper pole) and volume should be high during the breakout day.
This is an appropriate trade plan for flag pattern:-
Your entry should be just above the breakouts of the consolidation range
Set a stop loss just below the flag formation
Your target should be based on the height of the flag
Identifying the flag pattern is an easy job if you have the right trading conditions.
Now is the time to go through the flag chart pattern strategy step-by-step conditions for the bearish flag pattern or Inverted flag pattern
A bearish flag pattern forms when the price falls sharply, then moves sideways. This sideways movement can be considered as a flag and volume should be low during the sideway movement meanwhile volume should be high during the breakout day.
Don’t consider a single-day steeper pole.
The duration of the sideways movement should be 4-7 days.
Trade Plan for bearish flag pattern-
Your entry should be just below the breakouts of the consolidation
Set a stop loss just above the flag formation
Your target should be based on the height of the flag.