Tred whith Arjun

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5. Flag chart pattern
A flag pattern is created when a market’s support and resistance lines run parallel to each other, either sloping upwards or downwards. It culminates in a breakout in the opposite direction to the trendlines.

In a bullish flag, both lines point downwards and a breakout through resistance signals a new uptrendIn a bearish flag, both lines point upwards and a breakout through support signals a new downtrend
Although they can be considered as reversal patterns – after all, the price action within the flag reverses when the breakout occurs – flags are usually classed as continuation signals because they tend to occur after uptrends (bullish flags) and downtrends (bearish flags).
Think of it in three parts: a strong directional move, followed by a slow counter trend – the ‘flag’ – and a breakout.#BinanceTurns7