As TON has been in a consolidation pattern and trading ranges for so long, today is a day we have longed for so its been a super day for all us long term TON-ners, as too, all our new holders who also saw the light earlier also done well. But then many traders have seen this type of day before with the exception that this is NOT a P&D so lets not even go there.
IMO, with such a close, there is still plenty room to move as no Grades have been talked of yet. Except of course that they are similar to that of previous visual findings. Which is a hint for more joy to come.
Once we get confirmation of this then up and up yet again, as from today's action its easy to see what has gone on and what will be going on in the very near future.
Previously, I mentioned that I would post a chart or two once we get over the 20c area.
Looks like we double that in one day so I will offer 2 charts here.
One shows a 3, 15 & 60 min chart with intraday, plus daily chart.
Common to both are the 60 Min Charts EMA structure confirms the daily EMA structures. This 60 min chart also can really assist folks in thinking or planning the daily more effectively IMO.
Rather than babble on about charts, I believe the chart is very Self Explanatory.
You don't need to be a chartist to figure out what has gone on so here they are.
Easy to read clear lower indicators also showing divergence offering quite simple entry signals as too the EMA spread.
Now for intraday, which is just a breakdown of the todays action into 3 time frames. I am a huge fan of a 60 minute chart for long or medium trades in various instruments, though a 1 or 3 minute for various scalping.
As viewed, in the daily and other charts, it seems a breakway gap has been presented. For those who are Gap fans or seem to only believe they always need to be filled, then this is not always the case from which you can read as follows.
Take note: Or for those who done know what this may or may not mean here is an extract from a typical TA site out there on the web, which also saves me a lot of typing :)
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Breakaway Gap
A breakaway gap occurs at the beginning of a market move - usually after the security has traded in a consolidation pattern, which happens when the price is non-trending within a bounded range. It is referred to as a breakaway gap as the gap moves the security out of a non-trending pattern into a trending pattern.
A strong breakaway gap out of a period of consolidation is considered to be much stronger than a non-gap move out. The gap gives an indication of a large increase in sentiment in the direction of the gap, which will likely last for some time, leading to an extended move.
The strength of this gap (and the accuracy of its signal) can be confirmed by looking at that volume during the gap. The greater the volume out of the gap, the more likely the security will continue in the direction of the gap, also reducing the chances of it being filled.
While the breakaway gap generally doesn't fill like the common gap, it will in some cases. The gap will often provide support or resistance for the resulting move. For an upward breakaway gap, the lowest point of the second candlestick provides support. A downward breakaway gap provides resistance for a move back up at the highest price in the second candlestick.
The breakaway gap is a good sign that the new trend has started.
There is an old saying that the market abhors a vacuum and all gaps will be filled. While this may have some merit for common and exhaustion gaps, holding positions waiting for breakout or runaway gaps to be filled can be devastating to your portfolio. Likewise, waiting to get on-board a trend by waiting for prices to fill a gap can cause you to miss the big move. Gaps are a significant technical development in price action and chart analysis, and should not be ignored.
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Some thought TON was rerated previously to and around 20c but with such action today, it clearly is the beginning of something brand new.
Fortunately this Gap is flowing with the river into what will be uncharted territory once we obtain further evidence in upcoming announcements.
Jaded, If I remember readintg previuos posts correctly, you made a bet with King Louie about TON finishing in above 30c by the end of June/July or something.
Well, all I can say is get down and resume the Kiss BUTT Position buddy as the King is by far the Clear Winner here....lol Well done KL.
On another note,
The TON weekly chart is also in Fantastic shape. Will post more charts in due time but meanwhile seems lets just wait to hear what the grades are which will aid our friendly fundementalists here about potential volumes and grade of product we have here of which will likely turn into reality over speculation.
Just being a part of this has been a ride since watching Triton change from Gold to Graphite.
Its also great to see BB stepping up with stronger dialog in announcements & bolding text that says: "one of largest high grade graphite projects in the world.
Well done Brad as I know your background is legal & you have been very reserved with what words you have used on most announcements.
Also great to see our Gorilla friend also in the driving seat of the Triton Chair. Great stuff AJ.
Well done to the all the longs, and party on traders.
Further information I am sure will come available to show that the scope of what we are dealing with should groom this baby right into a bride to be.
Cheers to all :)
TON Price at posting:
26.5¢ Sentiment: LT Buy Disclosure: Held
(20min delay)