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In a bullish triangle breakout, the double top buy pattern occurs after the triangle pattern.
Triangle is a pattern of convergence. When it is followed by a bullish double top buy pattern, it triggers a convergence breakout pattern.
A strong uptrend is expected following the upward breakout of the convergence pattern. Triangle breakout patterns offer affordable trading opportunities.
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This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.