Figure: Pennant and Flag

Figure: Pennant and Flag

During a correction on a trend, such figures as: Pennant and Flag are often formed.

Pennant and flag patterns are a common occurrence during a trend, so if you meet any of the figures, know that this is a sign of an imminent continuation of the existing trend.

Here is an example of the Pennant technical analysis figure:


pennant figure


flag figure

As we can see in the screenshot, when the boundaries of the figure are broken, the current trend continues to move in the same direction.

Read also - Shape: Triangle

It is worth using these figures in trading, it helps to refine the signal using trading strategies and consequently earn even more.

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