Bullish and Bearish Flag

The Flag price pattern marks a brief pause before resuming the ongoing trend.

Bullish Flag
Bullish continuation chart pattern
Follows a sharp upward move
Flag should slope against the trend
Flagpole : sharp almost vertical upward move
Flag : 2 parallel trendlines, looks like a rectangle
Flag usually appears at midpoint of the move
Volume is lighter as the flag takes shape
Breakout occurs on stronger volume
Price target : height of the flagpole

Bearish Flag
Bearish continuation chart pattern
Follows a sharp downward move
Flag should slope against the trend
Flagpole: sharp almost vertical downward move
Flag: 2 parallel trendlines, looks like a rectangle
Flag usually appears at midpoint of the move
Volume is lighter as the flag takes shape
Breakout occurs on stronger volume
Price target: height of the flagpole

                       Chart example below