A break of my marked range could see bears push price all the way to 35165 retracement level where as a break above resistance of marked range could see bulls push all the way to 37000 level. My reaction to the NY session(preferably 15:00 - 17:00) will depend on whether price is at the support or resistance level.
My overall swing analysis is a retracement...
Anticipating a retracement on the 61.8 fib level with a possible H&S for a trend reversal pattern. I will have my buy zone around 16015-16850 range & have my stop loss just below the previous support level.
*The triple bottom chart pattern typically follows a prolonged downtrend where bears are in control of the market.
*There is an existing downtrend.
*The three lows are roughly equal in price or rather at the same zone, we can see this from the horizontal trendline
*The volume drop from the 2nd touch at the resistance level could be a sign that bears are losing...
Considering the strong support zone around 34479-34400 zone and the retail support to the upside, i will be looking for a reversal to around 35389 level.
