Friend asked what's a good looking chart for day trading.
Well if a small stock holds it's uptrend line on the daily chart.
As long as it does that's a hold.
See how it bounces off the blue 50 sma.
It never breaks below where it causes a sell signal.
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So for this example would you use the 10/50 SMA on the daily then support resistance for entry on smaller time frames for entry?
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Thanks for this! I notice that on virtually every stock that pumps, the price trends down for days, if not weeks before. They always seem to hit bottom before they spike. So, would you say the day trading rule of a “good chart” does not hold for pump & dumps?
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On this chart, if you come in mid way through a good uptrend holding above the 50 SMA, do you jump in anywhere along the line (seems like FOMO to me) or do you wait till it dips down to the 50 SMA?