A bull flag pattern is a chart pattern that occurs when a stock is in a strong uptrend. It is called a flag pattern because when you see it on a chart it looks like a flag on a pole and since we are in an uptrend it is considered a bullish flag.
When should you trade a flag pattern?
A flag chart pattern is formed when the market consolidates in a narrow range after a sharp move. The flag portion of the pattern must run between parallel lines and can either be slanted up, down, or even sideways. Enter a trade when the prices break above or below the upper or lower trendline of the flag
When should you trade a flag pattern?
A flag chart pattern is formed when the market consolidates in a narrow range after a sharp move. The flag portion of the pattern must run between parallel lines and can either be slanted up, down, or even sideways. Enter a trade when the prices break above or below the upper or lower trendline of the flag