Note: When trading penny stocks
1. Look at the in 15 min TF
2. Trade using 1 min TF
2. If the price is increasing with decreasing , stop at the next fib usually 1.618
3. Observe the at each fib level extension, enter at .5 retracement or .38 retracment, stoploss below .38 retracement.
5. Never even think about averaging out, else you will avg . out for life in penny.
Now that you are ready to trade penny, have fun :D I am going in with 1K, something to play with