Al Brooks: Final Flag
The Final Flag begins as a continuation pattern, but ends up as trend reversal pattern. According to Al Brooks, the components of a Final Flag are:
Pullback that is usually mostly horizontal. It can be as brief as a single bar
Usually almost to a magnet (resistance in a bull, support in a bear)
Usually other signs of a possible reversal (in a bull, examples include building selling pressure near the top of a channel).
After a Final Flag forms on the chart, we can wait fr a pullback and entry in the direction of the new trend.