📈🚩 Ascending Flag Pattern – A Strong Technical Signal for Continued Uptrend

The attached image clearly shows the "ascending flag" pattern, which is one of the most famous continuation patterns in technical analysis.

🔍 What is the pattern?

It is a temporary consolidation period within an uptrend, characterized by a sideways or downward-sloping corrective movement resembling a flag, preceded by a sharp upward movement known as the "flagpole".

📌 Pattern Details:

Flagpole: Represents the initial strong upward movement

Descending Channel: Represents temporary consolidation

Entry Point: After breaking the upper boundary of the channel

Expected Target: Equal to the length of the previous flagpole

✅ Trader's Strategy:

Buy upon a breakout upwards

Set a stop loss below the channel

Target = Length of the flagpole added to the breakout point

🧠 Information for Beginners: This pattern is considered a strong indication of continued bullish momentum in the market, especially if it coincides with high trading volume at the breakout.

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