Timeframe: Any
Recommend pair: Any major pair
Indicator: Flag Pattern
Platform: MT4, TradingView
Long trade setup
Entry
There should be an uptrend before the appearance of the flag. The price should consolidate downwards. Enter when the price breaks the flag to the upside.
Take-profit
Set take-profit at the start of the flag.
Stop-loss
Place a stop-loss at the recent low from the entry point.
Example:
In the chart below, the price consolidates in a downtrend forming a bullish flag.
Long trade setup
Short trade setup
Entry
There should be a downtrend before the appearance of the flag. The price should consolidate upwards. Enter when the price breaks the flag to the downside.
Take-profit
Set take-profit at the start of the flag.
Stop-loss
Place a stop-loss at the recent high from the entry point.
Example:
In the chart below, the price consolidates in an uptrend forming a bearish flag.
Short trade setup
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