FTSE triangle

Has the FTSE broken out of the triangle to the upside?

Triangles CAN be reversal patterns as well as continuation patterns, however continuation patterns are much more common.

4 hour chart

Shows the longer term support which was broken.
The triangle with potential break (or false break to the upside)

If it's a break to the upside the triangle will be a reversal pattern (rare)
If it's a false break - should reverse fairly soon and retrace the whole move up

Interestingly normally a break below long term support - usually sees a re-test of that support - so this move up may be doing that..

Key is getting back above that support.

Anything less increases the chances that the down move has not finished.