An important feature of flags is they are placed on top of a pole or mast. This elevation symbolizes the exaltation of victory and self-assertion of a community. For these reasons, in dreams, a waving flag suggests you need encouragement to move forward, a backup that provides safety. If you are carrying this flag to the top of a mountain it means that you will soon attain your goals. But if you lose it or it is stolen from you, you could lose the position you hold. It also has a sexual interpretation due to phallic connotation of the mast; If the flag hangs loose from the top of the mast, it may be a strong symbol of sexual unconfidence, impotence, or frigidity.