Flag pattern
A flag is a short consolidation sloping against the trend, after a fast move (the pole). It often signals continuation.
The pole is a strong, fast impulse. The flag that follows is a small channel tilted slightly the other way, made of a few candles. When the two edges converge, it is called a pennant.
The signal comes when the flag breaks in the direction of the pole. The theoretical target projects the length of the pole from the breakout point, which often gives an attractive risk-reward with a stop below the flag.
A flag that lasts too long or retraces more than half of the pole loses its continuation reading. It is a pattern of a market in a hurry.