Bullish flag formations are found in stocks with strong uptrends and are considered good continuation patterns. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation.
What is a bullish flag pattern?
The bullish Flag pattern is usually found in assets with a strong uptrend. It is called a flag pattern because it resembles a flag and pole. Pole is the preceding uptrend where the flag represents the consolidation of the uptrend. How does Bullish Flag Pattern? The flag pattern resembles a parallelogram or rectangle marked by...
Can a bull flag pattern be used to trade trend reversal?
I have just learnt from this lecture that the bull flag pattern can also used to trade trend reversal as well as rangt breakouts. Before, I only use it to juim into uptrends on GBP/JPY 4hr timeframe. Thank you bunch!
What do bull flag candlesticks look like?
Candlesticks group together over some time to form these patterns. Bull flag candlesticks often look like they can be a part of a larger pattern. For example, you may find them within bullish patterns like the cup and handle pattern or inverse head and shoulders pattern. Not every pattern will look exactly like the textbooks.
