THE HAndbook oF TEcHnIcAl AnAlysIscontinuation patterns. Hence, a triangle at the end of a column of rising Xs
would be regarded as a potentially bullish triangle, whereas a triangle appearing
at the end of a column of declining Os would be regarded as a potentially bear-
ish triangle. See Figure 15.29 for an illustration of this trend‐driven sentiment
for triangle formations.
Conversely, Figure 15.30 shows the basic setup for a bullish triangle defined
by way of a breakout rather than being trend related.
Figure 15.31 is an example of a bullish triangle breakout in Pitney Bowes, Inc.
Refer to Figure 15.32 for an illustration of the basic setup for a bearish triangle.
Figure 15.33 is an example of a bearish triangle breakdown in CraiLar Tech-
nologies Inc.
Figure 15.29 Trend‐Determined Bullish and Bearish Triangle.
Figure 15.30 A Basic Three‐Box Reversal Bullish Triangle by Way of Breakout.