Flag and pole Pattern in MINSIND

rrajesh145 Updated   
How to Trade a Flag Pattern

Entry: Even though flags suggest a continuation of the current trend, it is prudent to wait for the initial breakout to avoid a false signal. Traders typically expect to enter a flag on the day after the price has broken and closed above (long position) the upper parallel trend line . In a bearish pattern , the day after the price has closed below (short position) the lower parallel trend line .

Stop Loss: Traders typically expect to use the opposite side the flag pattern as a stop-loss point.

Profit Target: Conservative traders may want to use the difference, measured in price, between the flag pattern’s parallel trend lines to set a profit target.

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Trade closed: target reached


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