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A flag pattern is a graphical representation of a flag look, ie a steeper pole and a rectangular cloth representing the Flag.
1. The pole should be in the early phase and should be steeper as possible to show the aggression of the existing player in case of positive pole generally 75* to 80*
2. Rectangular price pattern happens after the steeper pole, and the side ward movement of price is expected which will happen for 3 ~7 days
3. Volume should be low during the flag area and
4. The volume should be high during positive break out and the flag should not drift
flag pattern is identified when a strong buying happens in market during 2-3 days and a consistent fight with good volume happen with minimal price change during 5-7 days and flag should not drift low . when break out happen volume should be low because because seller will lose its strength and a positive breakout is expected.
A flag pattern can happen at the early phase of the trend.
Conditions:
- It takes 4 to 7 days to form flag
- flag pole is steep
- volume is low during rectangle flag line
- volume is high during the positive breakout
Flag pattern is a type of price pattern with a steeper pole and a rectangle flag.
Conditions: Pole should be steep. Rectangular flag should form by 4 days. High volume at end of rectangular flag.
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