Ummm..the POG trend is upwards Skol... (see chart) and the POG entered up into the triangle pattern via the bottom
Yes your TA book is correct ..descending triangles using Elliott wave discipline can exit the same way they entered into that triangle (5 waves)....the bad news is it aint a perfect world. Statistically they break downwards 64% of the time overall. See the pattern site
Worthy of a mention is the fact that descending triangles are also well known as continuation patterns...a breather (correction) during a up or down trend...
I can think of worse patterns gold could have atm... double tops, head and shoulders.....because of this I'm going to assume that this descending triangle is another continuation pattern... another Bull market correction.... unless as you say that breakout below $1540/30 happens which would bust the pattern and put the Bull in doubt.
As of now...For the short term at least POG is in a secondary swing reversal upwards
http://i458.photobucket.com/albums/q...12longterm.png