The Handbook of Technical Analysis + Test Bank_ The Practitioner\'s Comprehensive Guide to Technical Analysis ( PDFDrive )

Point‐and‐Figure Charting

bullish and bearish Catapults

The catapult pattern is probably the most well‐known complex pattern in Point‐

and‐Figure charting. It consists of two formations, that is, a triple top or bottom

and a double top or bottom. For example, a bullish catapult starts off with a break-

out of a triple top, which is followed by a retreat back into the triple top formation.

It then catapults beyond the original triple top breakout and forms a tentative

Figure 15.31 A Basic Three‐Box Reversal Bullish Triangle Breakout on a Point‐and‐

Figure Chart of Pitney Bowes, Inc.

Courtesy of Stockcharts.com

Figure 15.32 A Basic Three‐Box Reversal Bearish Triangle by Way of Breakout.