In the following chart, ideal trade setup was forming on trend reversal point. We can see that price was running in the long standing channel and once it was hitting the upper channel line it was forming nice impulse to the downside and retesting the same place again but with the corrective wave. Which we call flag and is being used by traders as ideal trend continuation pattern for reversal.
In the following chart, we can see that flag broken down and completed the wave which was being expected by us. So this is the common pattern and market repeat this pattern very often. Identification on time is very important for timed entry.