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
Flag
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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