DXB Chart, page-1338

Slick... I'm curious... I've been following your comments here through this thread and interested in learning more. I've never really done my own TA, rather have just listened to other people's analysis and used it as another piece of information to consider. I have deliberately waited a couple of days from your post so nothing I write here sounds like and accusation or challenge, or to other readers, that I am down ramping or being negative - because I'm not, and as history shows as of close on the 8th Aug, your comment was correct and the downtrend was exhausted. This question is born purely out of my curiosity and desire to understand.

You stated in your post on the 6 Aug to Snowy... "Currently the chart is displaying that the downtrend may be exhausted and has found support".

In that chart I'm still seeing 2 candles printed below the lower bollie and below the 8ema, and with the MACD still well below the signal line and in the negative. I would have still taken this as a downtrend? Of course, history now shows over the last couple of days, it has come back up 8%... the candles are back within the bollies and have tagged the 8ema line.

Was your assessment that downtrend was exhausted based purely upon the hard stop at the 37c resistance line which you had identified in previous posts? I'm just curious to know how you made that call? (noted you didn't call a reversal... just that downtrend may be exhausted.

Cheers.