Let’s check an example showing Bearish Flag in one time frame and Bullish Flag in another time frame. This is an example of Bearish Flag by NIFTY Bank in 15 Minutes time frame –
The outcome is quite fantastic as You can see here
As said earlier, This is 15 minutes time frame.
But, when we check the 1 hour time frame, You can see a bullish flag in formation.
But, There is no trigger on this bullish flag. It broke the lower trend line.
So, our initial Flag’s lower trendline is broken making the flag invalid. So, We need to fix our flag –
This tells the story that Flag Pattern also is subject to modification based on the conditions. Anyways, It finally it broke upside –