(initial post: 9.4.2024)

I want to be able hold overnight so I am going to build this blog post and modify it as i go. I WANT TO CONTINUALLY TEST THESE ASSUMPTIONS TO REFINE AND IMPROVE. I WANT TO TEST THESE CONTINUALLY. Assume we always start are around the Tim Sykes Framework around penny stocks:

- float (0 - 5M)

- volume (> 1M or more on the day)

- catalyst (news, partnership, earnings, other -- see Vids for info)

- evaluate if this is a supernova on 1st day, FGD, FRD, etc. From what I am seeing, Ideally want to have a strong 1st day spike, strong catalyst with news catalysts. (where does this fit in the framework - should be clear)

 

Ok so during the afternoon trading session (2p - 4p) we want to:

- Chart the resistance support lines using 5m, 15m, 1h, 1D candles to confirm levels. (want to do this during the day as we go)

- Determine if volume remains strong during afternoon session (we want M upon M - MuM in volume), we don't want fading volume on 1st day spike,

- Chart High of Day (HOD) and then determine at any time if price action is rising near or breaks HOD

 

If the following occur, then we could consider holding for possible gap up

- Price - action breaks HOD as we are going into latter part of trading day 2p - 4p

- Volume increases during the HOD break

- Determine time of day (whether close to 4p or not)