Transition Types

Cut - Simplest form of editing. Reactions from characters are maximized with this cut style.

Fade - Fade usually occurs in emotional scenes and when one scene leads into another. Fading to black is usually the way editors use this, however if this is a death scene, fade to white would be used.

Dissolve - This would slow the film down for a romantic scene.

Wipe - This can speed up the film and is usually done to change location or time within a film.
Recently used in "Wall Street: Money Never Sleeps".
Common objects can be used in a natural wipe...
*Location change
-Cars
-People
-Grass
-Doors/Lifts
-Trees
-Bushes
-Pavements

*Passage of time
-Shadows
-Sunrises/Sunsets
-Sky/Clouds