Allowable time frames:

What times frames will you trade this setup on? (Can be traded on all entry time frames—1m, 2m, 3m, 5m, 15m, 1H & 4H.)

Risk:

What risk level will you execute these trades at?

Management style:

How will you manage this setup—2R TP, % Trail, Structure Trail or Hybrid?

Criteria:

1. Impulsive move prior to the flag which forms either sideways or counter to the impulse

2. 2 clear rejections on the top and bottom

3. Doesn’t retrace more than 62% of the previous impulse

4. Stop entry order set on breakout

5. Stop loss placed underneath flag

Trade examples

Flag setup library: click here