Flags and Pennant Chart Patterns

The speaker discusses flags and pennants and talks about how they can develop throughout each of the five phases of a larger move, both up and down phases.

In a typical up-move, a few pennants will appear on each phase of an impulse cycle.  Pennants almost appear as asymmetrical triangles while pennants are consolidations in a parallel channel after a strong move, up or down.  Flags and pennants will typically be formed between 7 and 14 periods before breaking out to the up or downside.