THE HAndbook oF TEcHnIcAl AnAlysIsFigure 15.25 A Basic Three‐Box Reversal Spread Triple Top Bullish Breakout.
Figure 15.26 A Basic Three‐Box Reversal Spread Triple Top Breakout on a Point‐
and‐Figure Chart of Keycorp.
Courtesy of Stockcharts.com
triangles. But unlike a conventional triangle breakout, the actual buy and sell
trigger is based on the first double top or bottom violation. It is normally dif-
ficult to determine if a triangle is bullish or bearish until a breakout has oc-
curred. A triangle is regarded as bullish if it experiences an upside breakout and
bearish if it has a downside breakout, or breakdown. Another approach is to
determine if a triangle is bullish or bearish with respect to its existing or pre-
dominant trend. As such, all triangles would then be expected to be potentially