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Flags and Pennants Chart Formation

Flags and Pennants Chart Formation
A ragged chart pattern is characterized by two parallel trend lines connecting the peaks on the one hand and the other low points during a rally downtrend. the parallelogram leaning slightly against the direction of the prevailing forex trend. Chart pattern feathered end upon breach of the support line or crossing the line of resistance forex, we identify the flag forex chart pattern upside bullish with their peaks and valley below , and the figure goes against the trend , it identifies the bearish flag bearish with their high peaks and troughs and the figure goes against the trend , in contrast wedge forex chart pattern, trend lines and bullish flag chart pattern bear flags a parallel, many traders are based on the slope of the flags which follows the direction of the forex trend.

The chart formation is similar to the flag appears in symmetrical triangle , the difference lies in the smaller size of the flag and the shorter period during which the chart formation flag is set , in short the flags can be seen as triangles established short term,

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