What's Bull Flag Pattern?
Index Identify a Bull Flag Pattern in Stock Index Trading
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This Bull Flag trading patterns charts guide explains and describes how to identify setups - spotting chart setups is the first step when it comes to learning how to trade with Bull Flag chart setups in Indices.
Bull Flag price setups commonly form on charts & this chart pattern setup formation analysis lesson explains and describes how to trade and analyze charts using Bull Flag setups.
Bull Flag Pattern
This bull flag chart pattern forms what resembles a rectangle. The rectangle is formed by 2 parallel lines that act as support & resistance for the price til the price breaks out. In general, the bull flag trading setup won't be perfectly flat but it will be sloping.
The bull flag chart pattern setup formation is found within a upwards trend. In this bull flag chart pattern is a continuation pattern where the trading market pulls back slightly, it is therefore a slight retracement with narrow price action which has a slight downward tilt. The technical buy point is when the price penetrates the upper line of the bull flag pattern. Flag portion has highs & lows that can be connected by small lines which are parallel, giving it what looks like a small channel.
The bull flag chart pattern occurs at half-way point of a bullish upwards trend and after a break out a similar move equal to the height of the flag-pole is expected.
What's Bull Flag Pattern?
The bull flag chart pattern above was just a resting period as the trading market gathered strength to break-out & move higher. Bull flag chart pattern indices continuation signal was confirmed as the upper line was broken to the up side.
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