Flags and Pennants

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


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