We've been requested many times to explain trading flags, so here is a quick video explaining on how to identify them and trade them!
Flags are often seen as continuation patterns, so the entry points are usually on the breakout of the flag with the stop loss being set below the support of the last low of the flag. The theory behind flag patterns is that the momentum seen during the flag pole stage should continue once the price breaks out of the flag. The profit target is usually found by measuring the initial move and adding it to the breakout of the flag.
Hope this video helped! We appreciate all feedback. Have a great week!