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<span style=”color: #777777; font-family: ‘Roboto Slab’; font-size: 13px;”>Flag pattern is considered as favorable pattern for long position ,and is characterized by steeper pole with rectangular sideways movement and positive out break with high volume.</span>
After the stepper pole Rectangle shape side way movement form, takes lesser time to form may be positive breakout with high volume
The price pattern looks like a Flag.
Its should have steep pole (70 to 80 degrees) and then form a rectangular pattern for a while.
There should be a breakout following the rectangular pattern most probably the same direction of the pole, with the high volume.
Time taken for the pattern – 3 to 7 days
Flag pattern is a price pattern and it takes less time to form.
Conditions to qualify:
This should be rectangular shaped sideways movements.
Volume should be increased while giving a breakout.
Flag pattern looks like a flag with a pole
steeper pole – slope 75 to 80 degree
rectangular price movement expected – min 3 to 7 days
volume should be low during the flag
long positions can be created
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