Chart Patterns and Technical Indicators

Chart Patterns and Technical Indicators

Flags and Pennants are short-term continuation patterns that mark a small consolidation before the previous move
resumes. These patterns are usually preceded by a sharp advance or decline with heavy volume, and mark a midpoint of the move.

Sharp Move: To be considered a continuation pattern, there should be evidence of a prior trend. Flags and
pennants require evidence of a sharp advance or decline on heavy volume. These moves usually occur on heavy
volume and can contain gaps. This move usually represents the first leg of a significant advance or decline
and the flag/pennant is merely a pause.

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