Begun looking in to and back testing Flag patterns. Here's one I spotted while doing my usual checks of the charts.
Bottom chart is the 1440 showing us that we're still in a downward trend and have been since the first half of 2019. Top chart is the 240 showing an initial impulse legs or flag pole, with a nice retracement.
I'd be looking to go short once price breaks and closes below the bottom flag line. Two options for Stops and Targets.
Option A - Stops one ATR above the highest wick in the patterns and targets as an equal measured move.
Option B - Stops one ATR above the entry signal bar and targets at a re-test of the low.
Let me know what you think, any tips for someone who's looking to incorporate Flags in to my trading?