Flag & Pennant Formations are very common. There is not much difference between them.
Flags & Pennants Formations are continuation pattern hence assumption is there exists a trend (up trend or down trend). In addition to the trend assumption, they have one more requirement. That they be preceded by sharp & almost straight-line move.
Once price gets breakout from these pattern the original trend continues.
Bullish Flag
Bullish Pennants
Other Continuation Patterns
Technical Analysis Symmetrical Triangle
Technical Analysis Ascending Triangle
Technical Analysis Descending Triangle
Technical Analysis Rectangle Formation
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Technical Analysis Flags & Pennants Pattern
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1 comment:
How can one tell if a pennant breakout is going to turn into flag or channel? After all a pennant looks like the early part of a flag or channel.
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