Educational 07: Flag and Pennant Patterns
These are continuation trend pattern that are found frequently in the markets. I wanted to cover it and share it with you as I found some good charts during my research that are forming such patterns. One of them is Aban offshore, chart link attested below. (I have also provided some examples given in comments box below for your references and goodself.)
There are 3 important things to note:
1. The Initial Impulse (Flag Pole)
2. The retracement (Actual Flag or Pennant)
3. The Measured Move (an equal reaction swing to the pole)
These factors conclude to the formation of Flag and pennant patterns. They are easy to identify and provide high potential returns.
Comment below your questions regarding the same to improve your and other traders understanding of the patterns by providing examples and any explanations if required.
Thanks for the support,
With Regards,
There are 3 important things to note:
1. The Initial Impulse (Flag Pole)
2. The retracement (Actual Flag or Pennant)
3. The Measured Move (an equal reaction swing to the pole)
These factors conclude to the formation of Flag and pennant patterns. They are easy to identify and provide high potential returns.
Comment below your questions regarding the same to improve your and other traders understanding of the patterns by providing examples and any explanations if required.
Thanks for the support,
With Regards,
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