This is a diagram and some information i was reading up on regarding Triangles and pennants.
Triangles are some of the most well-known chart patterns used in technical analysis. The three types of triangles, which vary in construct and implication, are the symmetrical triangle, ascending and descending triangle. These chart patterns are considered to last anywhere from a couple of weeks to several months.
The symmetrical triangle in Figure 4 is a pattern in which two trendlines converge toward each other. This pattern is neutral in that a breakout to the upside or downside is a confirmation of a trend in that direction.
A pennant is a continuation patterns formed when there is a sharp price movement followed by a generally sideways price movement. This pattern is then completed upon another sharp price movement in the same direction as the move that started the trend. The pattern is generally thought to last from one to three weeks.
In a pennant, the middle section is characterized by converging trendlines, much like what is seen in a symmetrical triangle.