Yes, that image from
@h00ts is very relevant here.
It is likely this stock will see the end of the speculative exploration phase, and move into the transitional orphan phase, before the mark up into the mining phase.
Nice charts as usual Beany.
I note you were looking for a test after a breakout.
Sadly, testing is often seen on a smaller timeframe (most often intraday testing - on a daily timeframe, but also daily testing on a weekly for instance - although a weekly test will look more like a more serious pullback and recovery on a daily chart.). This isn't a great help for you, as I know you can't watch the markets during the day. I don't know why it happens like this, but it does....perhaps it is difficult (or too expensive) to bring a stock back to test for a longer period.
I'll have a look later, but I expect there was probably some testing done on that Domino's chart within that bar you mentioned, just that it was done and dusted prior to the last bar completing...if you know what I mean.......
Yep, good job HF. It doesn't actually mean it is 'all over' in the short term. But what I wanted to show was the end of an exploration phase in mining stocks. This happens all the time, and needs to be identified and understood.
Spot on again Mel, I'm starting to wonder if you are hiding in my house and looking over my shoulder when I make these tests.
If our positions were changed, and you were setting the tests, I don't think I would have a good a record as you.
Very good effort.
Thanks Cabbie, good answer
Nice charts
@Infidel75
Could you add a little commentary to the charts, so we can see what you are seeing ??
Thanks mirren, lots of good detail in that answer
cheers
