Point and Figure Charts
Triangles
For a valid triangle there must be at least two retracements counter to the prevailing trend: two falling columns of Os in an up-trend or two rising columns of Xs in a down-trend.
Symmetrical
Ford [F] presents an example of a symmetrical triangle at [11] on the chart below.
The chart also presents a good example of a wide bear trap at [10].
Ascending & Descending Triangles
You will also find (bullish) ascending and (bearish) descending triangles.
Flight Centre (Australia) presents a good example of a bullish ascending triangle, with equal highs and two ascending columns of Xs (with higher lows).
