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Flag Pattern Trading Strategy - Flag Pattern - Pennant patternA flag pattern, in technical analysis, is a price chart characterized by a sharp countertrend (the flag) succeeding a short-lived trend (the flag pole). Flag. A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Total views. A flag pattern can be an informative chart pattern that some traders A false breakout happens when a crypto asset breaks through the critical.