Dow theory is important whereas price patters give indications of the nature in the market. hence following different patterns helps the traders to predict the certain movement in the market which allows them to take calculated risk during trading
Venkatasubramaniam Narasimhan, , Price Patterns, cup patter and flag and triangle., double top and double bottom, Head and Shoulder
Hi,
In response to your question
Your Question 1:: Entry price, Exit Price and Stop loss for flag pattern
This is an appropriate trade plan for bullish 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
Your Question 2 :: short position can be taken only during intraday?
Yes of course, you can take a short position on an intraday basis in the spot market but you cannot be carried the position overnight. However, the short position in the futures market can be carried forward overnight or up to expiry day.