Flags form when prices consolidate after strong trend moves. The preceding sharp trend movement is called a flagpole. In an uptrend, a flag pattern forms when prices consolidate by forming lower highs and lower lows to signal a period of profit-taking. A break outside the upper falling trend line is a signal that bulls are ready to push prices higher in the next phase.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.