Customer Support : 020-61923200, [email protected] | Call and Trade : 020-61923220
Flags and Pennants are short-term continuation patterns that signify a brief consolidation before the prevailing trend resumes.
Flags: Small rectangular patterns that slope against the prevailing trend, the falling channel for the bullish flag and the rising channel for the bearish flag. They represent a brief period of consolidation after a sharp price movement.
Pennants: Small symmetrical triangles resembling a flagpole pennant. They represent a brief period of consolidation with converging trendlines, usually following a significant price movement.