The flag is formed by two parallel bullish lines that form a rectangle. The bull flag pattern is one of the most common patterns found on charts. Another One Traders Usdcad On Daily After The Rally We Could See A Bull Flag Retracement Back To Resistance-turned-support A Forex Trading Forex System It is called a flag pattern because when you see it on a chart it looks like a flag on a pole and since we are in an uptrend it is considered a bullish flag. What is a bull flag in technical analysis . A bull flag pattern is a chart pattern that occurs when a stock is in a strong uptrend. Bull flag pattern much similarly looks like a horizontal parallel channel or downward parallel channel along with a strong bullish vertical rally; Once the stock peaks out, the bears regain some confidence as they add to their short positions only to get trapped again when the breakout forms causing more short covering. Therefore, a bull flag is a relatively rare bullish chart pattern. It is ther...