What is the sequence of steps to interpret the figure of speech and dialogue?

Identify the allusion as a reference to the titanic, a famous ship that sunk on its first trip

Consider the context and what you already know about the titanic

Determined that Trisha thinks that Charley's business will fail like the Titanic

Analyze the figure of speech and dialogue to determine the meaning of the allusion

Interpret the figure of speech and dialogue to understand the implications of the allusion