ETHUSD is in a major downtrend. This does not mean we must wait for a sell entry - there are possible buy entries, too. In this chart, we are looking at the contraction of price before a descision is made about the value of ETHUSD in the immediate timeframe. if we see enough buying interest, i.e, a large bar bigger than the last 10 bars, there is a potential long trade to be taken. My advice is DO NOT BUY A BREAK OUT, BUT THE RETRACTION. Same applies if the price falls below the major green line, it is a sign the major down trend is still in play and could return back to the low pivot where it will meet buyers at the level or support marked on my chart.
@VincePrince, that looks good! the point is for those of us that are trading, is that we shouldn't limit to any prediction, we should do what the market is doing, go with it, not go with a prediction or idea, that's how we lose money and get our feelings hurt
here is the POV