There are many different ways to draw things lines squiggles and shapes on a chart. That's why TA is so great for all sorts of purposes, like leading groups of people into believing that the price of an asset is going to go down or up based solely on imaginary shapes and concepts.
Why did you pick the August high instead of a April low to draw your line from anyway?
Draw a line from the April low, to a current low. You still see a downtrend? What you call a "downtrend" can be seen as a "correction" on a larger timeframe chart. But then again, being an experienced trader, you probably already know that. Just like you know the fact that there are many different ways to draw things on a chart.
Look at the 5 year chart - no down-trend in sight. In fact you'll probably see that we're in a range )))
P.S If I was blind - there'd be no point in posting up a chart, I wouldnt have seen it anyway.
NTL Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
