I need to share my situation because I have no idea what to do.
I had many clients for SEO and I'm doing pretty good industry except one specific client - here it is. [EDITED]
It had huge traffic and results in previous years and months till the penalty came to them because previous SEOers have done massive amount of spammy links.
I took this client and I fixed a manual penalty (visible in GWT, all spammy links are in disavow right now) but still even though it's good website and has some very good natural links from forums, it still has results like it would be some fresh website (or even worse).
Does anybody have any hypothesis? Is it algorithmic penalty? How to get through this?