The most common bull flag mistakes are entering before the breakout confirms, trading loose flags, ignoring volume, mistaking any pullback for a flag, and poor stop placement. Common mistakes include trading loose flags with depth greater than 20% of the flagpole, early entry before breakout confirmation, poor stop placement, ignoring the higher timeframe trend, and holding failed patterns after invalidation.
A common mistake involves initiating trades when the flag's retracement is excessively deep; ideally, the flag should form in the upper half of the flagpole.
Look for orderly consolidation, not choppy reversals, and remember that weak breakout volume often signals that buyers lack conviction.