You'll have to define what you determine what a 'larger pullback' means.
Looking at the chart again, low $1.10-$1.15 would be perfectly acceptable (less than 15% retrace).
Second scenario is price retracing back to the last supply order block at $1-$1.10 (~20% retrace), before the next leg up.
Third scenario, and the worst of the three IMO, is price keeps going higher on the same trajectory - as this will cause a much larger pullback than the above two scenarios will experience. As much as it is exciting to see price rise as fast as it has, the experienced ones know slow and steady is always better for prices to rise and sustain.
The lowering volume is telling me the pullback is this week or next.
'The indicators can stay over bought for quite a while as price continues to rise.'
I don't use indicators, as they're lagging. Nothing price action and supply/demand cannot show you.
This is just TA, of course doesn't take into consideration if further drill results or a material announcement is released.
IMO only, DYOR.
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Last
56.5¢ |
Change
0.065(13.0%) |
Mkt cap ! $122.2M |
Open | High | Low | Value | Volume |
51.5¢ | 56.5¢ | 51.5¢ | $628.3K | 1.150M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 54.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
56.5¢ | 11036 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 50000 | 0.545 |
3 | 19962 | 0.540 |
1 | 10000 | 0.535 |
3 | 113080 | 0.530 |
2 | 203000 | 0.525 |
Price($) | Vol. | No. |
---|---|---|
0.565 | 1036 | 1 |
0.570 | 23080 | 3 |
0.580 | 15000 | 1 |
0.585 | 999 | 1 |
0.600 | 30000 | 1 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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