NeeteshJain
Education

Educational 07: Flag and Pennant Patterns

FX_IDC:EURINR   EURO / INDIAN RUPEE
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36
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,

Related Ideas

Comments

Thank you for sharing. Potential Bull pennant in making in NIFTY.
+3 Reply
@nirav5 Thats is something I'm looking forward too as well. Well crafted, wish you all the best. Regards
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nirav5 NeeteshJain
When do we consider the break of bullish pennant or flag pattern? break of 8480 ? please suggest.
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do we draw x ABCD in Nifty pennant as of this stage? is it technically correct?
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Nicely presented. Great information. Keep posting Neetesh. Thanks !
+1 Reply
NeeteshJain dev_trader
Thanks Dev, I shall be posting similar educational post by this weekend. Regards.
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good article
+1 Reply
Thank you for this post as well. Like in H&S you can co-relate the moves to EW running flats and triangles i.e. the flags and pennats are corrective moves and end with a thurst in the direction of the larger trend. How wonderful to see it this way. Once again thanks and appreciate your time and efforts in preparing these series.
+1 Reply
NeeteshJain ShanTrader
@ShanTrader Thats absolutely rightly said, Triangles, channels, flags are all part of corrective waves of EW. These patterns provide a good confirmation to the corrective waves and instant action play. I'm sure you're good at reading EW as your observations are simply clear and correct. I wish you all the best, and appreciate your kind motivating words. Regards.
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Saw Adani Ports break a flag today. And VEDL too. :)
+1 Reply
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