A Flag and Pole chart pattern is formed when the price consolidates in a narrow range after a sharp move. The consolidation part of the pattern replicates a flag on the pole, You can check the below image of Nifty 50 weekly.
When formed in an uptrend it is called as Bullish Flag and In a Downtrend it is called as Bearish Flag
Credits :- Fearless Trader by Prathamesh Tawde
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