Theory vs Real world.

Theoretically, FLag and Pennant patterns are short term patterns that take about 3-4 weeks for completion by which point consolidation ends and the prior trend picks up pace. But in this chart the consolidation had been taking place for 9-10 weeks. And finally the much anticipated breakout has occurred and the scrip is giving the classic flag style move ! But flags/pennants are short period patterns as earlier told, so is it a Pennant or not? Or is it what we call a measured move?
Funny world of chart patterns XD
PS: Just an observation

Kommentera:

PPS : many stocks are now making Flag patterns , like prior to the bloodbath on 21 december many stocks were forming inverted head and shoulders. Either we are going to witness a superbull market in 2021 or the markets are drunk and may soon fall face down like a drunkard .
I am no expert. just penning my thoughts so pardon my ignorance if my observation seem stupid.