Identifying the Forex Flag Pattern

From vantagefx.com

We’ve touched on flag patterns before in our ‘flags and pennants’ post, but let’s go into a little more detail. After all, flag patterns come in all sorts of shapes and sizes, and it’s not as simple as calling a flag a flag, so to speak. Typically, flag patterns indicate a continuation of the existing trend. So, if a currency pair in the forex market is showing a bullish trend and then forms a flag, there’s a pretty decent chance that the break will be to the upside. And of course, the opposite applies in a downtrending market. But here’s a key element that can often go overlooked. See, a flag is only a ... (full story)