Is a horizontal triangle always a corrective pattern?

The answer is yes… The drawn horizontal triangles following the classic technical analysis criteria, will greatly help the Elliott wave approach in establishing the main landmarks of the trend development and decision taking timing. However, keep in mind that it might also contain same-degree impulsive and corrective subwaves. The drawn horizontal triangles complying with the Elliott wave principle criteria, containing only corrective entities, represent genuine triangular corrective subwave, wave or pattern. We can talk here about a "pattern within a pattern". The doubling of the triangle upper / lower limit (not drawn here) with their parallel lines, prolongations and apexes, constitute a reliable source of information on the trading arena.