A P&F Bull Trap is a Triple Top Breakout that fails: the column of X's breaks the resistance by only one box and then reverses down into a column of O's. Point and Figure charts plot rising prices as columns of X's and falling prices as columns of O's, ignore time, and add a new column only on a reversal of several boxes, which filters out minor moves. Buyers who chased the breakout are trapped, and their selling can fuel a sharp decline.
