Pipeline triggers and release branches

I'm migrating a TFS repo to git and looking at different branching strategies. I like the one suggested by Microsoft here https://docs.microsoft.com/en-us/azure/devops/repos/git/git-branching-guidance?view=azure-devops but am struggling a bit with the release branches.

The repository is a monorepo with a couple of different applications. When I create a new release branch I would ideally like it to trigger the pipelines to build the applications which have been changed since the last release, and not the pipelines for all the applications.

Is this possible to set up with pipeline triggers or am I better off with a long running release branch instead of a separate one for every new release?