In fact, this chart provides a different perspective of the market. This type of charting idea never passed through my mind. It is always good to keep in touch with professional traders.
Thank you for sharing this chart. Continue your good work.
Almost a descending triangle would suggest if it doesn't break out as you see that it will move down to form descending triangle and that is a bearish signal to show continuation of more down....
If i was you i wouldn't be going long till it breaks threw that trend line :)