TF 1/23 & DOW's Diamond And Pipe Bottoms

TF Hourly

This is what I'm thinking (and it's all conjecture of course):

1) TF is going to break out below the symmetrical triangle, finding support however, at 429 to 431, and move back up into the triangle, busting the breakout.

2) What follows would be a breakout above the top downtrend line (in blue), and then TF would be aiming for 475.

I'll be looking to buy during a pull back in the event that price breaks out of the blue top downtrend line. If that's too near 458 resistance, I'll wait for price to close above 458 before going long.

While waiting, I'll be scalping. Again, if market gets choppy, even if TF were to hit those numbers, I'm still not going to hold any positions for more than a few ticks.

DOW Daily

Busted diamond bottom. Or is it? Diamond bottoms don't usually fail. Besides, the pipe bottoms are providing support still. I'm speculating that market could very well close in the positive territory today.