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When the movement of the price looks like flag in the graph, it is flag pattern. First it should form a steeper pole, in this stage instead of the price going high, it will travel side ways like rectangle form. This rectangular form should be formed in 3 to 4 days and high volumes at end of flag.
A steep pole of 75 to 80 degrees forms and then a sideways movement takes place with less volume for at least 4 to 7 days and then a breakout takes place and volume is high when breakout happens, this pattern is called as the flag pattern.
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The price pattern looks like a flag. With a steeper pole and a rectangle flag. Duration 3-7 days, volume low at rectangle flag and high only at positive breakout .
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As the name suggests, the Flag pattern have a flag like shape. A steep pole and a flag flying side wards. Flag pattern can only be bullish. It usually takes 3-7 days for a flag to break out.
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