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Reverse Flag Pattern seen in Bank Nifty

Reverse Flag pattern formation is seen in Bank nifty today.

Flag Pattern basically in simple language a figuratively a pole and flag - drawn on the chart, either straight or reverse.

How does a flag pattern matters in trading? Flag patterns signify trend reversals or breakouts after a period of consolidation. So the important point to note is Bank Nifty is trading at all time high vs Nifty is not supporting in same way so chances of this reverse flag pattern break out are high. Even RSI is falling and on upper side, long can be seen only after crossing todays high.

As shown in the chart a retest to upper trend line can happen and reversal to take place, lets see how this works.

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How perfectly reverse flag pattern worked...

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Many people are asking how to take trades... so for this specific example where we identified reverse flag pattern below are the trades which could be triggered .. detailed explanation below for your reference :