Bull Flag
A sharp rally (the pole) followed by a short, tight, flat or downward-sloping channel; completes on a close above the flag's upper line.
Flags are brief pauses after a fast move. Edwards & Magee say they "fly at half-mast": the move after the break often resembles the pole.
Flags are short by nature, so the usual 2-month minimum length does not apply.
How we define it
- Pole: a run of at least 5 ATR and 8% (4H) / 15% (1D) / 25% (1W) in 3-30 candles (4H), 3-20 (1D) or 2-8 (1W), at least 0.6 ATR per candle, no single candle making up half of it
- Flag: 6-36 candles on 4H, 5-25 on 1D, 3-8 on 1W, and no longer than twice the pole
- Two parallel lines with at least 2 touches each, flat or sloping against the pole; no close outside them; the flag gives back at most half of the pole and is no taller than half of it
- Breakout (up) / breakdown (down): the first candle close beyond the boundary by at least 3% on 1D and 1W (1.5% on 4H)
- Failed breaks: a breakout or breakdown that closes back inside the boundary within 6 candles on 4H, 5 on 1D or 3 on 1W is removed from the list
- Trend filter: breakouts only above the 200-period EMA (40-week EMA on 1W), breakdowns only below it
- Watchlist: the pattern is complete but unbroken and price is within 3% (or 1 ATR, at most 6%) of the boundary
No recent breakout or breakdown
No bull flag has completed recently. See all patterns.
Nothing on the watchlist
No mature bull flag is close to its breakout or breakdown level right now.