It is a continuation pattern that marks a pause in the movement of a price halfway through a strong uptrend, giving you an opportunity to go long and profit from the rest of the price rise. The uptrend then continues with another similar-sized rise in price. Wait for the triangle to break and confirm ... R : 5.7 - 6.56 - 8.35 S : 4.3 - 3 - 2.09
This is not a comment on the strength or weakness of the analysis but a statement about wave labelling. If the triangle is meant to be labelled according to Elliott Wave Theory, it is incorrect and the author is far from the only one on TradingView that makes this mistake. "A" should appear at the terminus of the first corrective wave, thus at position marked "B", and so on. Elliott considered triangles to be 5-wave structures.Right now, this could just as easily develop into an ABC zig-zag that bottoms around previous resistance at 3.0-3.5.