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Flags are excellent chart patterns for swing and day trading.
Where it forms in relation to Minor and Major Support or Resistance is a key concept.
The most bullish flags in and up trend will “create support” – and the most bearish flags will create resistance.
We will cover this Master Trader concept.
We are going to teach you basic and advanced concepts of the Flag Continuation Patterns — and how to trade using Flags.
Flags and Pennants are short-term continuation patterns that mark a small consolidation before the previous move resumes.
It is important that flags and pennants are preceded by a sharp advance or decline.
Without a sharp move, the reliability of the formation becomes questionable.
We will review multiple examples.
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