techisbest - maybe you should learn a little more T/A before posting T/A on this site. First of all I have never said we have started a new uptrend because we have not as of yet.
Up Trendline - A straight line drawn upward and to the right below the reaction lows. The longer the up trendline has been in effect and the more times it has been tested, the more significant it becomes. Violation of the trendline usually signals that the uptrend may be changing direction.
An uptrend requires to reaction lows, obviously inorder to draw a line, has not happened yet, at least not on the daily charts.
When and if we get a valley much above the .25 bottom, then we will have an uptrend.
FWIW, I am looking for a full 66% retracement, meaning tomorrow we will probably end in the low .40's before starting the second leg of a probably uptrend. This would create the start of a nice solid and maintainable uptrend IMO.
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