Triangle presents a balance of forces between buyers and sellers, causing a sideways movement that is usually associated with decreasing volume and volatility. This pattern subdivide into 3-3-3-3-3 structures labeled as A,B,C,D,E.
It is a continuation pattern that breaks in direction of the preceding move. It could occur in wave 4 in an impulsive structure, wave B in a zig-zag, and wave X connector in double and triple threes Elliott wave structures. It could also occur in wave Y of a WXY structure in which case it marks the end of correction.