re: the triangle break defined
spot on pilly.. in terms of the market psychology re triangle breaks, it goes something like this..
As the triangle pattern forms the daily price swings become smaller, at the same time the daily volume also contracts as the pattern progresses towards the apex. This essentially means that simultaneously buyers are becoming more determined to accumulate and sellers are becoming scarcer.
Finally at the point of the break, there are no sellers left at that price so determined buyers push the price up and we have our breakout.
