Thread by @TRADEPROAcademy

THE BULL FLAG PATTERN - an explanatory thread 👇
The #bullflag is one of the best breakout patterns in technical analysis. There are 2 main ways to play the flag. 1. Through the first resistance.
2. Through the top of the flag pole

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There are 3 typical types of bull flag patterns as shown here.
You always want to consider the break of the prior lower high in the descending and wedging flags.
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Bull flags can be identified on any time frame, they're great for day trading and swing trading. The blue box is the "lower risk entry for the breakout" The break of the green trendline is the first and higher risk entry.
Contd...

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Swing trade example of $APPS 👇

Always consider volume on these moves and the expected target is the length of the flag pole. So in this case $20 move. So from 56 breakout we are expecting a move to 76.

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Swing trade example of $APPS 👇

This is the intraday bull flag seen on the 5-min chart of $EBAY. You typically notice these shape out until the end of the day so they are really useful trade opportunities into the start of the next day for day traders.

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For a deeper dive into Bull Flags, watch our video on "Trading Bull Flags" on our YouTube channel.
Link below👇


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