A bull flag is a technical continuation pattern which can be observed in stocks with strong uptrends. The pattern takes shape when the stock retraces by going sideways (or by slowly declining) after an initial big rise in price. When you see the graphical representation of this pattern, you’ll notice that it somehow looks like a flag on a pole.
I don't trade ETF's
We need high volume prior to flag formation.
Flags are chart patterns in technical analysis. They are called 'continuation patterns' as the flag embeds prices that are consolidating in a range after a strong move up or down. Price is expected to continue in the direction of the prior move once it breaks out of the flag pattern.
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