Flags and Pennants

Triangles  Triangles Symmetrical broadening wedge  Symmetrical broadening wedge
Descending wedges  Wedges Broadening wedges  Broadening wedges
Flags and pennants  Flags and pennants right-angled broadening wedge Right-angled broadening wedge
Head and shoulders Head and shoulders Double tops  Double (or triple)
 tops (or bottoms)
Rectangle  Rectangles cup with handle  Cup with handle

 

Flags and pennants fall into the category of forex price continuation patterns. They typically form after a strong price movement are they don't last very long. Statistics have shown that flags and pennants are among the most reliable price continuation chart patterns.

Flags consist of a channel of parallel trend lines that go against the trend.

Pennants look very similar to symmetrical triangles, but they are generally smaller in size (volatility) and in duration.

Flags and pennants