This chart is for the trader.
Define the trend yes. But don't let it fool you either.
As a trader I must know the trend. On the daily chart, SOL is clearly up,
no problem. Higher tops / higher bottoms. Widening the time frame can
often be additionally useful however.
See the extreme high at $63, then the move down to $24. I calcualted the
daily up trend, as an upward retracement of the larger weekly down trend.
Buying at $34 (X marks the spot) gave me a target Gann mid point of $42 as
an exit. Mission accomplished. Yes I am proud of that exit.
ps; SOL is a little less heavily traded than other stocks, so I used the
closing price high at $62 plus the closing price low at $23.50 to get the
average mid point of $42 75. SOL may well move higher, but not first
without retracing, in the daily time frame at least, the move up to $42 off
$23. The fact that SOL fell slightly short of 42.75 in the first instance
shows a little weakness.