Price must CLOSE above the wedge for confirmation.
Chart is self explanatory. Don't trade until a breakout. Down breakout, if confirmed by closing below the flag, has a higher probability of reaching target than upper breakout because of already existing downward momentum.
Chart is self-explanatory. Watch out for a pullback. If price closes above the top of the pattern it's invalid, but otherwise we have about a 70% success rate for this pattern.