Price movement that is in the direction of the trend is called “trending”. Price movement that is in the opposite direction is called “correcting”. Corrections can be single legs of a smaller pattern, or a combination of legs and patterns that retrace a more sizeable leg. Regardless, the expected resolution to a correction is a resumption of the trend.
Following are examples of corrections within patterns. Each is linked to more examples of the pattern:
Ascending Triangle
Channel
Complex Triangle
Descending Triangle
Double Bottom, Double Top
Head & Shoulders
Island
Rounding Bottom, Rounding Top
Symmetrical Triangle
Wedge