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The impressive reaction around the ECB's decision almost two weeks ago has created a flag pole for a potential bull flag formation.
A Bull Flag is a continuation pattern that generally occurs after a large run up in price.
A Bull Flag can be identified a long green candlestick that resembles a flagpole, and a pennant that is identified by two converging trend lines that form a symmetrical triangle.
A Bull Flag is a <strong>bullish continuation pattern</strong>&nbsp;that generally occurs after a large run up in price.
In an uptrend, therefore, the bull flag has a downward slope; in a downtrend, the bear flag slopes upward.